TOP CORPORATE NEWS - 19 NOV 2015

Infosys completes acquisition of Noah Consulting

Infosys today announced that it has completed the acquisition of Noah Consulting, LLC, a leading provider of advanced information management consulting services for the oil and gas industry. The acquisition is in accordance with the terms set out in the agreement announced by the company on October 19, 2015.

Canara Bank to raise fund

Canara Bank has announced that the Board of the Bank, during the course of their meeting on November 19, 2015, has discussed the issues as mentioned in the letter dated November 17, 2015 and permitted Bank to raise additional capital of Rs2400 crore through issue of BASEL-III compliant Tier II Bonds by way of Private Placement at a Coupon Rate as decided by the Bond Committee of the Bank to support the asset growth during 2015-16 and also to maintain healthy level of CRAR.

IIFL Holdings jumps as FIPB clears FDI proposals

IIFL Holdings surged nearly 11%, touching to Rs206.2, after finance ministry on Wednesday approved company’s foreign direct investment proposals.

The Foreign Investment Promotion Board ( FIPB) allowed foreign investor to increase stake in the company from 50.16% to 80%. This proposal is expected to result in foreign investment of Rs1,800 crore.

Britannia plans to scale up its dairy products biz

Britannia Industries plans to scale up its dairy products business into a full-fledged unit, targeting a fivefold increase in sales, and re-launch the portfolio of Tiger biscuits to improve market share. The company intends to set up a standalone division for its fledgling milk product business, which accounts for less than 5% of Britannia's sales.

Rail stocks gain after CCEA approves many rail projects

Indian railways rose after the Cabinet Committee on Economic Affairs ( CCEA) approved rail projects worth Rs9598.32 crore.

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