· Govt to infuse Rs 2455 cr in
Bank of India
Bank of India
has announced that the Government of India ( GOI) in its letter dated August
19, 2015 has informed the bank about its decision to infuse capital funds to
the tune of Rs2455 crore in the Bank by way of preferential allotment of equity
shares. In this regard, the Board of Directors have decided to convene an
Extra-Ordinary General Meeting (EGM) of the shareholders of the Bank on
September 28, 2015. In the meeting the bank will seek to get the shareholders'
approval for the proposed preferential Issue of equity shares to Government of
India, by way of Special Resolution.
· Hindalco seeks
shareholders nod to raise up to Rs 6,000 cr
Aluminium maker
Hindalco Industries said that it will seek shareholders' approval to raise up
to Rs6,000 crore through issuance of non convertible debentures (NCDs) on
private placement basis.
'Consent is
sought to offer or invite subscription to non convertible debentures up to an
amount not exceeding Rs6,000 crore on private placement basis from time to time
until September 15, 2016,' Hindalco said.Hindalco said its Board will consider
raising funds in one or more series/ tranches. The company's AGM will be held
on September 16.
· KPTL receives new orders of
Rs880 cr
Kalpataru Power
Transmission has secured new orders/ notification of award of approx. Rs880
crore, details are as follows -Five international transmission line projects in
Tanzania, Ukraine, Thailand, Tajikistan and Ethiopia of approx. Rs465
crore.Turnkey contract for 400 kV transmission line of approx. Rs342 crore from
Karnataka Power Transmission Corporation. A pipeline laying project of approx.
Rs75 crore from GAIL (India).
· Bharti plans to sell
Bangladesh and Srilankan operations
Bharti Airtel is
looking to exit operations of the Bangladesh and Srilanka market. It is further
learnt that it would separately sell the tower business and the services
business.
This move is
aimed at focusing operations and consolidating the balance sheet and hence
serves positive for the company.
·Vodafone India to launch 4G
services
Vodafone India
Ltd, India’s second largest telco, will launch 4G services by the end of the
year, the company announced on Friday. 'Important data markets including
Mumbai, Delhi, Kolkata, Bengaluru and Kochi will be part of the first wave of
the roll-out,” the company said in a statement. 'In addition, Vodafone India
will also roll out its own 3G networks in seven circles—Assam, North East, UP
West, Rajasthan, Karnataka, Kerala and Odisha—to expand its overall 3G
footprint to 16 circles across the country.'
·Lupin gets FDA Approval for
Generic Prilosec® Capsules
Lupin received USFDA
approval for Omeprazole delayed release capsules which is generic version of
Astrazeneca Pharma Prilosec. It is used for short term treatement of Duoden
Ulcer, Gastric Ulcer, treatment of Gastro Esophageal Reflux Disease etc.
Total annual US sales of the drug is around Rs1200 crore ($185 million) as per
IMS MAT June 2015.
· ONGC gets one-year extension
to explore Vietnam block
Oil &
Natural Gas Corporation (ONGC) has received a one-year extension to explore in
a Vietnam deepsea oil Block 128 in the contested waters of the South China Sea.
The company has not found any hydrocarbon in the block but is continuing to
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