HCL Technologies, Tata Steel, Reliance Industries may see action
HCL Technologies has completed the acquisition of Axon Group Plc, the UK-based consulting firm, for £441.1 million on Monday (15 December 2008). The acquisition makes HCL's SAP business three times bigger than that of Satyam, its closest SAP competition in the domestic market. Satyam's revenues from SAP implementation is said to be about $150 million.
Tata Steel's UK-based arm Corus has clarified that the media reports stating that the Corus is to be merged with Tata Steel, to save as much as 350 million euro, is entirely false.
Reliance Industries has reportedly raised Rs 1000 crore in two tranches through the issue of debentures. The first Rs 500 crore tranche of secured redeemable non-convertible debentures had a maturity of 10 years and carried an annual coupon rate of 10.75%. The second had a maturity of three years and carred a coupon of 10.10%. Both issues were completed last week, the report added.
S Kumars Nationwide has reportedly received Rs 43.72 crore after its founders exercised 5.3 million warrants, converting them into shares, it said on Monday. The warrants were convertible at a premium of Rs 72.5 a share. The founders held 10.47 crore shares, or 46.9% of equity as of 30 September 2008, according to data from the BSE. The textiles firm said Mauritius Debt Management Ltd has not exercised its option to convert 66 lakh of its warrants into equity. As a result, the 10% deposit has been forfeited by S Kumars, it said in a statement.
GMR Infrastructure is reportedly close to buying Indonesian coal mine company for $80 million.
Bajaj Auto has reportedly decided to shut down production at its Waluj plant near Aurangabad for 10 days this year against the five-day annual block closure that has been the routine for the past few years.
PTC India is reportedly planning to collaborate with power generation companies in a bid to diversify its business.
Apollo Hospitals is reportedly eyeing foray into drug manufacturing and early-stage clinical trials.
Source : Capitalmarket.com
HCL Technologies has completed the acquisition of Axon Group Plc, the UK-based consulting firm, for £441.1 million on Monday (15 December 2008). The acquisition makes HCL's SAP business three times bigger than that of Satyam, its closest SAP competition in the domestic market. Satyam's revenues from SAP implementation is said to be about $150 million.
Tata Steel's UK-based arm Corus has clarified that the media reports stating that the Corus is to be merged with Tata Steel, to save as much as 350 million euro, is entirely false.
Reliance Industries has reportedly raised Rs 1000 crore in two tranches through the issue of debentures. The first Rs 500 crore tranche of secured redeemable non-convertible debentures had a maturity of 10 years and carried an annual coupon rate of 10.75%. The second had a maturity of three years and carred a coupon of 10.10%. Both issues were completed last week, the report added.
S Kumars Nationwide has reportedly received Rs 43.72 crore after its founders exercised 5.3 million warrants, converting them into shares, it said on Monday. The warrants were convertible at a premium of Rs 72.5 a share. The founders held 10.47 crore shares, or 46.9% of equity as of 30 September 2008, according to data from the BSE. The textiles firm said Mauritius Debt Management Ltd has not exercised its option to convert 66 lakh of its warrants into equity. As a result, the 10% deposit has been forfeited by S Kumars, it said in a statement.
GMR Infrastructure is reportedly close to buying Indonesian coal mine company for $80 million.
Bajaj Auto has reportedly decided to shut down production at its Waluj plant near Aurangabad for 10 days this year against the five-day annual block closure that has been the routine for the past few years.
PTC India is reportedly planning to collaborate with power generation companies in a bid to diversify its business.
Apollo Hospitals is reportedly eyeing foray into drug manufacturing and early-stage clinical trials.
Source : Capitalmarket.com
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