Petronet LNG socks will be in focus as RasGas of Qatar has agreed to not to press for the $1 billion in penalty that Petronet LNG Ltd, India’s biggest import of liquefied natural gas (LNG), has to pay for buying only 68 per cent of the contracted 7.5 million tons this year.
The BSE Sensex and NSE Nifty opened in negative zone on Tuesday following weak global cues. At 9.35 am, Sensex was down 0.45 points at 25,818.89. Similarly, Nifty was down 2.50 points at 7,846.75 during the same time.
JSW Steel: Credit ratings agency Fitch on Monday downgraded its outlook on JSW Steel to ‘Negative’ from ‘Stable’ due to risk of further decline in product prices.
Nestle India: Stocks of the company will be in focus as it has resumed production of Maggi noodles from its fourth plant at Pantnagar in Uttarakhand.
Petronet LNG: Stocks of the company will be in focus as RasGas of Qatar has agreed to not to press for the USD 1 billion in penalty that Petronet LNG Ltd, India’s biggest import of liquefied natural gas (LNG), has to pay for buying only 68 per cent of the contracted 7.5 million tons this year.
Tata Motors: Tata Motors’ Jaguar Land Rover (JLR) will post a lower pre-tax profit in 2015 than in the previous fiscal year, its CEO told Reuters, due to major investments and a blast at China’s Tianjin port that destroyed thousands of its cars.
Maruti Suzuki: Asserting that it will have full control over upcoming plant in Gujarat despite letting parent Suzuki own and invest there, Maruti Suzuki India has hit back at proxy advisory firm IiAS, which asked minority shareholders to vote against the move, saying the “conclusions” are not based on “any facts or logic”.
Pfizer: Pfizer Inc on Monday said it would buy Botox maker Allergan Plc in a deal worth $160 billion to slash its US tax bill, rekindling a fierce political debate over the financial maneuver. The acquisition, which would create the world’s largest drugmaker and shift Pfizer’s headquarters to Ireland.
Lanco Infratech: Lanco Infratech on Monday announced that its subsidiary Lanco Solar Private Limited signed a landmark agreement with Chhattisgarh Government to bring Chhattisgarh on the global silicon map. As per the MOU inked on Monday with the Chhattisgarh Government, Lanco Solar will set up 100 MW solar cell manufacturing plant.
IDBI Bank: The bank on Monday launched an issue of US dollar-denominated green bonds through its Dubai branch. The bank will utilise the proceeds to fund new and existing green projects.
Tata Steel: According to media reports, Tata Steel is likely to raise $1.5 bln to refinance debt.
Wockhardt: Drug regulator National Pharmaceutical Pricing Authority has exempted Wockhardt’s three insulin products from price controls for a period of five years with effect from January 8 this year.
ONGC: More than a year after it sacked three UPA-appointed independent directors on ONGC board, the government has appointed ex-IFS Ajai Malhotra and two others as non-oficial part-time directors on the board of the nation’s biggest oil and gas producer.
Gammon India: The company on Monday informed BSE that the Corporate Debt Restructuring Empowered Group-(CDR EG) in its meeting held on Nov 23 discussed and noted the invocation of Strategic Debt Restructuring (SDR) in the Company by the CDR Lenders, pursuant to RBI Circular dated June 08, 2015.
UPL and Advanta: UPL, formerly known as United Phosphorus, has received its board’s approval to merge its agriculture seed company Advanta with itself in a bid to improve shareholder value and simply the group structure. The merger is backdated to 1 April 2015. The merger will result in access to newer territories, enhanced coverage in existing markets, leveraging channel capabilities. The company expects to achieve annual cost savings of Rs 90 crore as well.
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