News 22 février 2012

HCL Infosytems: HCL Infosystems has bagged a Rs2.78bn laptop contract from the Tamil Nadu Government.

Bajaj Auto: The company is expecting to substitute 15-20 % of the current three wheeler model with its upcoming four wheeler RE60 variant in Ahmedabad.

Tata Motors: Tata Motors will double investments in its Jaguar Land Rover brands to pound 1.5bn a year.

Sun Pharma: Sun Pharma, which was slapped with a US$960mn damage notice by US-based Wyeth over the launch of the generic Protonix, may settle for an out-of-court settlement.

Kingfisher Airlines: The Director-General of Civil Aviation has asked Kingfisher Airlines to submit a revised operating schedule based on the number of aircraft it is actually in a position to operate.

Mahindra Satyam: The company has set up a US$50-mn joint investment fund in association with SBI Holdings, the Japanese venture capital firm, to invest in companies that hold promise.

Reliance Industries: Reliance Industries and Russian rubber giant Sibur have entered into a joint venture company called Reliance Sibur Elastomers that aims to become the fourth largest supplier of butyl rubber (input for tyres) in the world.

JSW Steel: JSW Steel plans to raise US$275 mn through external commercial borrowings (ECBs) at an interest rate of Libor + 4 per cent a year .

REC: Rural Electrification Corp has received the Finance Ministry’s approval to raise Rs.30bn through issue of tax-free bonds this fiscal.

GTL Infra: GTL Infra may get about Rs.10bn from Aircel since the telco will not be able to deliver on its promise to rent 20,000 additional towers by mid-2013.

Coal India: Coal India may be asked to make additional supplies of approximately 50 mn tonnes of coal in 2012-13 and, reach them to power stations ignoring concerns on the logistics front.