Reliance Infrastructure (R-Infra) will be watched. Reliance Defence, a wholly owned subsidiary of Reliance Infrastructure, and Russia's leading developer and manufacturer of air defence missile systems AlmazAntey, have decided to work jointly on the entire range of AD missile and radar systems that are required for Indian defence forces. Both the firms identified the air defence missile systems including the TOR-1M missile program, radars and automated control systems as areas of partnership under the 'Make in India' as well as offset policies of the Indian Ministry of Defence. The two firms also discussed the joint implementation of modernization, repair and deep overhauls of AlmazAntey systems already in service with the Indian armed forces. They also discussed R&D cooperation for developing new products in the defence sector. The announcement was made after market hours on Thursday, 24 December 2015.
Simplex Projects announced after market hours on Thursday, 24 December 2015, that it has received a notice from one of its creditors intimating that they have filed a winding up petition before the Calcutta High Court. However, the company said that it has already initiated appropriate legal recourse in the matter.
Info Edge (India) announced after market hours on Thursday, 24 December 2015, that it has, through its wholly-owned subsidiary, invested Rs 15 crore in Canvera Digital Technologies. Accordingly, the total investment by the company, including that through its subsidiary, is Rs 90.10 crore which would translate, as on date, into a 49% stake in Canvera on a fully converted & diluted basis. This investment was made at a pre-money valuation of Canvera at about Rs 75 crore.
Maruti Suzuki India (MSIL) announced on Saturday, 26 December 2015, that it will contribute Rs 2 crore to the Prime Minister's National Relief Fund to strengthen the relief and rebuilding efforts of the government for victims of the recent floods in Tamil Nadu. Alongside, MSIL has taken several customer care initiatives for vehicles impacted by the floods. The company has rushed spare parts to Tamil Nadu and has made special arrangements with the insurance companies to speed up survey and approval process. To support customers in this time of hardship, for the flood affected vehicles repaired under insurance, 50% of the depreciation amount will be borne by Maruti Suzuki. Normally, the total depreciation amount is payable by the customer. Additionally the company is offering 50% waiver on cleaning and polishing charges.
Oil India, along with Indian Oil Corporation, signed a memorandum of understanding with the Russian oil & gas major Rosneft. The scope of the memorandum of understanding is cooperation in the exploration and production of hydrocarbons onshore in the Russian Federation. The memorandum of understanding is a stepping stone for a long-term partnership between the three companies to jointly work in Russia. Through the memorandum., the parties have agreed to examine the possibility of cooperating in the Taas-Yuryakh Neftegazodobycha LLC asset, which is one of the largest oil assets in Eastern Siberia, Oil India said. The announcement was made after market hours on Thursday, 24 December 2015.
Tata Power Company said it signed a memorandum of understanding (MoU) with the Ministry for Development of Russian Far East, Government of the Russian Federation, to explore and develop investment opportunities in the energy sector. Under the provisions of the MoU, the Ministry for Development of Russian Far East will cooperate with and support Tata Power at all stages of the investment projects) including assisting the company's communications with federal and regional authorities, state-owned companies, and the private sector. The announcement was made after market hours on Thursday, 24 December 2015.
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KEI Industries said that it has bagged an order worth Rs 384.53 crore from Power Grid Corporation of India. The company said the order is for supply and service contracts for package A & B under integrated power development scheme (IDPS) works in Varanasi, Uttar Pradesh. The announcement was made on Friday, 25 December 2015.
Adani Ports and Special Economic Zone said that its board will meet on 28 December 2015, to consider change in key managerial personnel of the company. The announcement was made on Friday, 25 December 2015.
Tube Investments of India said that its board has approved the divestment of 4.18 crore equity shares of the face value of Rs 10 each held by the company in its general insurance subsidiary viz., Cholamandalam MS General Insurance Company, constituting 14% of the equity share capital of Chola MS, to its joint venture partner Mitsui Sumitomo Insurance Company, Japan (MSI) for a consideration of Rs 211 per equity share, aggregating Rs 882.67 crore. The announcement was made on Friday, 25 December 2015.
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