Corporate News of the Day --- IIFL IJK The plans of Bharti Airtel to raise its stake in Qualcomm’s broadband venture to 93.45 % from 51 % may face bureaucratic hurdles. (BL) Hindalco Industries Ltd’s Australian copper mining arm Aditya Birla Minerals Ltd (ABML) may sell its Mt Gordon project in northern Queensland, sources said. (BL) The green initiative undertaken by Hindustan Zinc, , has resulted in an annual saving of Rs2.8bn. (BL) Cairn India wants the Government to renew its contract for operating oilfields in Barmer, Rajasthan, beyond five years. The oil major’s contract is valid till May 14, 2020, and it is keen on operating till the economic life of these oilfields. (BL) CARE Ratings plans to float an international arm with participation from rating agencies and financial institutions from emerging market economies (EMEs). (BL) With growth in rural markets beating slowdown trends, Godrej Consumer Products Ltd (GCPL) is engaging with a fresh set of wholesalers to enhance its indirect reach across villages. (BL) Cognizant Technology Solutions Corp said it had acquired France‐based Equinox Consulting, a financial services consultancy, for an undiclosed sum. (BS) Vodafone India is planning to expand its data services to every village with more than 5,000 residents. (BS) Ashok Leyland has offloaded its Detroit‐based testing and engineering company Defiance Testing & Engineering Services (DTE) to Exova. (BS) The demand for US dollars is so strong from clients that the State Bank of India may not be of much help to the RBI Governor Raghuram Rajan in shoring up the foreign exchange reserves through subsidised swap plans. (ET) NMDC is considering a stake in an Indonesian thermal coal mine owned by Renuka Coalindo, an acquisition aimed at expanding the profile of the minerals producer that has been focused mainly on iron ore and coking coal. (ET) Other News The Asian Development Bank (ADB) has lowered its growth forecast for the Indian economy in 2013‐14 to 4.7 %, which is significantly less than the 6 % projected in April. (BL) A high‐level panel headed by Economic Affairs Secretary Arvind Mayaram would finalise by the month‐end its report on the definition of foreign direct investment (FDI) and foreign institutional investor (FII), aimed at removing ambiguity on the two types of foreign investment. (BS) The Union government is pushing states to agree to its proposed Constitution amendment Bill on a goods and services tax (GST) when the Empowered Committee (EC) of State Finance Ministers meets here on October 21. (BS) Some of the television channels have approached appellate tribunal TDSAT against 12‐minute per hour cap on advertisements imposed by sectoral regulator TRAI. (ET)
Posted on: Thu, 03 Oct 2013 03:27:41 +0000
Trending Topics
Recently Viewed Topics
© 2015