• IDBI, BOI plan to raise equity/debt capital
IDBI Bank plans to raise Rs26,000 crore through a mix of equity and bonds to fund its business growth. The bank proposes to raise Rs6,000 crore (inclusive of premium amount) via equity and remaining via debt.
Bank of India has taken shareholders approval and is also looking to raise up to Rs6,000 crore through Tier-I or Tier-II bonds, apart from issuing 26 crore equity shares.
• Raymond reworking on consumer products strategy
The Raymond Group is reworking its consumer products strategy to enter newer categories, and has roped in a celebrity endorser to bump up sales of its deodorants. The textile major's FMCG company, JK Helene Curtis (JKHC), has signed up actor-director Farhan Akhtar to push sales of its Park Avenue brand of deodorants in the Rs3,500-crore segment that has close to 1,000 brands.
• RIL enters in agreement with Versalis subsidiary to sell SBR
Reliance Industries Ltd ( RIL) has joined hands with Versalis Pacific Trading (Shanghai) - a wholly-owned subsidiary of Italian firm Versalis (Eni), a major producer in the polymers and elastomers industry to market its styrene butadiene rubber (SBR) to tyre producers in China.
• Force Motors opens facility near Chennai for BMW engines
Force Motors opens facility near Chennai for BMW engines; positive for the company. Force motors has inaugurated the Rs200 crore facility at Mahindra World City near Chennai for the assembly and testing of BMW engines. The company has invested Rs200 crore on the plant which will be producing 20,000 units of premium engines. The plant will also produce gearbox and other components for BMW.
• Jet Airways optimises fleet utilisation, expands Abu Dhabi flights
Jet Airways optimises fleet utilisation, expands Abu Dhabi flights and within India as a part of its network optimisation efforts.
• ENIL surges on approval to buy 4 TV Today Network's radio stations
Shares of ENIL surged over 12% to Rs816 on NSE as the company gets I&B Min approval to buy TV Today Network");'> 4 TV Today Network's radio stations. Big positive for ENIL as the approvals to acquire TV today radio network was not approved earlier by ministry, now as the I&B ministry has given the approvals ENIL will consolidate its number one position in the India’s.
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