• Hero MotoCorp planning to buyout Erik Buell Racing
Hero MotoCorp (Hero) is looking to buyout Erik Buell Racing (EBR) its Us based technology partner. In 2013, Hero had picked up a 49.2% stake in EBR at Rs150 crore.
However, due to financial difficulties EBR had filed for bankruptcy in April’15. This had jeopardized some of Hero’s projects such as the HX250R and the Hastur showcased in Auto Expo 2014.
• SpiceJet marks 52-week high on stake sale plans
Shares of SpiceJet rallied 5% to Rs25.20, extending their previous day’s 3% gain on the BSE, after the company said that a few parties approached it and evinced interest in making investments.
The stock hit a high of Rs25.50 and is now slightly away from its 52-week high of Rs25.70 touched on February 25, 2015 on the BSE.
• ONGC plans to invest $8.8 billion in KG-basin
ONGC plans to invest over USD 8.8 billion in bringing to production KG-basin oil and gas discoveries by 2018-19.
• Railways project worth Rs81,459 cr to be completed by 2019
Railways 'Dedicated Freight Corridor' project worth Rs81,459 cr to be completed by 2019 – Positive for wagon manufacturers like Texmaco, Titagarh, BEML.
• Tata Power eyes Africa, S-E Asia, SAARC for growth
Tata Power to evaluate investment opportunities in Africa, Turkey and West Asia, South-East Asia and the SAARC region. In line with its international strategy, the company is to continue to assess favorable circumstances to scale up its generation capacity.
• IndusInd Bank completes acquisition of Diamond financing
IndusInd Bank announced that the Bank has completed the acquisition of the Diamond & Jewellery financing business and related deposit portfolio of Royal Bank of Scotland N.V. in India. The acquired loan portfolio is approximately Rs 4100 crore.
• Nestle India surges in weak markets
Shares of Nestle India rose 4% to Rs 6269.50 on the National Stock Exchange (NSE) in otherwise weak markets after the company on Friday, July 24, 2015, after market hours Nestle India announced that Mr. Etienne Benet, managing director, is leaving the company with effect from July 25, 2015 and will be relocating to Nestle Group head office in Switzerland.
• ITNL secures Rs2288 cr project from NHAI
IL&FS Transportation Networks Ltd ( ITNL) has bagged Rs 2,288.18-crore worth project from NHAI for four-laning of Amravati-Chikhli section of NH-6 in the state of Maharashtra.
The company has been awarded the project through issuance of a letter of award dated July 24, 2015 by NHAI. The company had quoted a grant of Rs183.05 crore for project.
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