Bosch announced after market hours yesterday, 29 December 2015 that with a view to adjust production to meet the demand for products and to avoid unnecessary buildup of inventory, the company is suspending all manufacturing operations at its Bangalore plant and Bidadi plant for two days on 30 and 31 December 2015. There is no financial impact on account of the proposed suspension of operations, Bosch said.
Bharti Airtel after market hours yesterday, 29 December 2015, announced that it has acquired 74% capital of Augere Wireless Broadband India (Augere). With this acquisition, Augere has become a subsidiary of Bharti Airtel. It may be recalled that Bharti Airtel had announced on 27 October 2015 that its board of directors had approved the scheme of amalgamation of Augere with the company.
DLF after market hours yesterday, 29 December 2015 announced that subsequent to receipt of funding and issuance of securities, two joint venture (JV) companies namely, DLF Urban and DLF Midtown ceased to be subsidiaries of DLF. Accordingly, DLF Home Developers (DHDL), a wholly owned subdidiary of DLF owns 49% equity shares in each of these entities viz. DLF Urban and DLF Midtown. It may be recalled that DHDL and GIC, Singapore's sovereign wealth fund had announced on 2 September 2015 that they had signed an agreement to enter into a JV to invest in two upcoming projects located in Central Delhi. Subsequent to the Competition Commission of India's (CCI) approval for the same on 12 November 2015, and having met other pre-closing conditions, the funding for the transaction had been concluded on 23 December 2015 with the receipt of Rs 1992 crore from GIC.
Petron Engineering Construction announced after market hours yesterday, 29 December 2015 that it received letter of intent from JSW Cement (JSWCL) for civil and structural work for 2x1.2 million tonnes per annum (MTPA) GGBS grinding unit at JSWCL, Salboni, West Bengal for a total contract price of Rs 75 crore.
Powered by Capital Market - Live News