New Delhi
Singapore’s sovereign wealth fund GIC on Tuesday said it is acquiring 63.9% stake in the Mumbai-based realty firm Nirlon Ltd for Rs 1,280 crore. In December, GIC had announced that its affiliate Reco Berry Pvt Ltd signed a definitive agreement to acquire stake in Nirlon. PTI
New Delhi
M&M cuts electric car e2o price by Rs 92,000
Mahindra & Mahindra has slashed the price of its electric small car 'e2o' by Rs 92,000 following the launch of a Central government scheme offering incentives on electric and hybrid vehicles. The car will now be available at Rs 4.79 lakh (on road Delhi), while the fixed energy fee remains the same. PTI
New Delhi
Welspun records 11-fold jump in Q4 net at Rs 144 cr
Welspun Corps on Tuesday reported 11-fold jump in consolidated net profit at Rs 144 crore for the quarter ended March 2015 on higher income. The total income from operations rose to Rs 2,375 crore during the quarter as against Rs 1,534 crore in the same quarter of 2013-14. PTI
New Delhi
Gold surges Rs 305, silver zooms Rs 1,000/kg on global cues
Gold regained sheen with its price surging by Rs 305 to over 7-week high of Rs 27,355 per 10 grams at the bullion market here on Tuesday, tracking a firm global trend along with brisk buying by jewellers to meet wedding demand. Silver also spurted by Rs 1,000 to Rs 37,500 per kg on increased offtake by industrial units. PTI
New Delhi
Bank of India to raise $750m via bonds
Bank of India on Tuesday opened its bond issue to raise $750 million (about Rs 4,750 crore) under its medium-term notes programme. PTI
New Delhi
Wockhardt recalls select drugs from US
Pharmaceuticals major Wockhardt is recalling select drugs in the US, manufactured at its two units at Chikalthana and Waluj in Maharashtra, which were under import restrictions from the USFDA. PTI
New Delhi
Reliance Power terminates 3,960 MW Tilaiya UMPP
Reliance Power on Tuesday said it has terminated the contract for Rs 36,000-crore Tilaiya ultra mega power project (UMPP) in Jharkhand over inordinate delays in land acquisition. PTI
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