Investing News - Page 27
RBI clears RPower's $2.2-bn loan from US, Chinese banks
Apart from $2.2 billion, the Sasan power project has also received $150 million funding from other sources, a statement from the company said.<br /><br /> <br /><br />
Intel Capital to invest $20 mn in six Indian firms
While investment in three companies - Saankhya Labs, Testing Czars, and FINO - has been completed, Intel Capital has signed agreements for investment in What's on India, enStage and DURON Energy as well.
No tower unit IPO this fiscal: Bharti Airtel
Bharti Infratel, the mobile phone carrier's telecoms tower arm, was looking at a minimum $500 million IPO, for which it was expected to file regulatory papers in September or October.
Swajas Air lowers IPO price band after poor response
Swajas Air Charters has cut the price band of initial share sale offer to Rs 84-90 a share and extended the issue by five more trading sessions.
GAIL to buy 20 percent in US shale gas assets for $ 100 mn
GAIL's investment includes upfront cash payment of $63.7 million and a carry amount of $31.3 million linked to Carrizo's future drilling and development costs
Lower gas output at RIL's KG-D6 won't have much impact: Moody's
Rating agency Moody's today said the decline in the production of natural gas at RIL's KG-D6 block will lower the company's cash flows but impact on its overall financial health will only be modest.
Pipavav enters aviation sector with Airbus
Pipavav Defence and Offshore Engineering Company (formerly Pipavav Shipyard) today announced its foray into the aviation sector by signing a pact with Airbus to set up an aircraft maintenance facility in the country through a joint venture.
Gitanjali Gems to invest Rs 150 cr in 50 stores
The company is also in talks with several cash and carry and hypermarket operators in India for setting up shop-in-shop stores.
Ipca Laboratories earmarks $20 mn for Indonesian acquisition
Mumbai-based Ipca Laboratories Ltd plans to acquire a pharmaceutical company in Indonesia with a view to enter the largest South-East Asian market.
UBS's new CEO commits to keeping US brokerage
The trading loss and Gruebel's departure also has breathed new life into a long-standing rumor that UBS would divest or spin off its US brokerage arm, which is not as profitable as the Swiss company's private banking businesses.
Dr Reddy's, JB Chemicals call off Russia deal
In July, Dr Reddy's had agreed to buy the business for about $34.9 million, which involved acquiring 20 brands from JB Chemicals.
Jaiprakash Associates gets Rs 2,079 cr orders from Bhutan
The orders are related to construction of 990MW Punatsangchhu II Hydro- Electric Project - which is being jointly developed by the Bhutan and Indian governments.
India pips China in private equity-backed acquisitions
India has edged ahead, with $4.9 billion from 105 private equity-backed M&A deals, while China has $4.8 billion from 96 deals.<br /><br />
Wipro in talks to sell data centres, assets of US unit
Wipro has received initial offers from several US telecom firms for sale of five data centres that could be worth between $300 million to $400 million.
New UBS chief awaits markets' verdict
The 67-year-old German resigned on Saturday, with the UBS board appointing as his interim replacement Sergio Ermotti.
UBS board meets to consider fate of crisis-hit investment bank
The crisis has left Gruebel facing not only strategic issues, such as whether the bank should stick to its safer core wealth management business, but also concern about his management team and lax risk supervision.
ArcelorMittal faces recession fitness grilling
ArcelorMittal shares have plunged 50 percent in the past two months.
PE deals slump amid volatile markets
Private equity deals typically need leveraged loans and high-yield bonds - the riskier form of lending that carries some of the highest interest rates and often is among the first financing to be withdrawn when credit tightens.
ABB wins $71 mn order from SAIL
Power and automation technology group, ABB has won a $71 million order from Steel Authority of India Limited to supply a sub-station package for its Bhilai Steel Plant in Chhattisgarh.
Tata Steel to give 18.5 percent of salary as bonus
The total payout on account of annual bonus for 2010-2011 will be Rs 171 crore approximately against Rs 143 crore last year
NMDC buys 50% in Australia's Legacy Iron Ore for Rs 93 crore
The deal will be first foreign acquisition for NMDC, which has been scouting for natural resources abroad in countries like Russia, United States, Afghanistan, Uzbekistan, Canada and South Africa, among other countries.
GVK in talks with Indonesian firm to divest stake in Australian coal mines
GVK will need the financial support and technical expertise of partners to develop the mines, and the rail and port projects, with the overall investment required in the first phase pegged at $10 billion.
IDFC to raise Rs 5,000 cr through tax-saving infra bonds
Infrastructure Development Finance Company (IDFC) is planning to raise up to Rs 5,000 crore through tax-saving bonds in the current fiscal.
Titan to enter Indonesia through distribution tie-up, stock gains 3%
The stock market reacted positively to the news, with the stock touching a high of Rs 237.45 at 3pm today.
Voltas in talks to buy Wipro's water biz, stock gains
Shares of India's third-largest software services exporter, Wipro, surged 2 percent in morning trade on a media report that electro-mechanical projects firm Voltas Ltd is in advanced talks to buy the water purification and treatment business of Wipro Ltd.<br /><br /> <br /><br /> The soaps-to-software maker has mandated investment bank Anand Rathi to find a suitor for the water treatment business, which it entered about four years ago.
UBS chief pretty sure board will back him despite scandal
Gruebel is expected to ask UBS' board to back plans for a radical overhaul of investment banking under his leadership at a meeting in Singapore, a plan sources said would be sped up after the trading scandal.
Essar official endorses CBI line, says Essar controlled Loop
The statement of CFO of Essar Telecom Businss Group Somasundaram Subramaniam, who was the CEO of BPL Mobile (BMCL) which took over Loop Telecom Private Limited, was recorded before the magistrate on September 9.<br /><br /> <br /><br />
ABB margins under pressure on slowing demand, growth
Its shares were down just over 1.7 percent at Rs 818 ($17.43) at 3:15 pm, on global concerns.
Lenders approve GTL's debt recast plan, stock up 11%
Post the announcement, GTL stock is trading higher by 11.27 percent at Rs 71.
Sun Pharma's US arm resolves issues with health regulator
he USFDA had pulled up the US arm of Sun Pharma for violation of manufacturing standards, such as its inability to produce batches of consistent quality and lack of sufficient corrective actions.