TOP CORPORATE NEWS
ADAG companies will bag Rs10000 crore contract
Anil Ambani-led Reliance ( R-Power, RInfra) will bag a Rs10,000-crore contract for the $3-billion power-cum-LNG Bangladesh project backed by a power purchase pact with a statutory body.
NTPC may shut Farraka Thermal Plant
NTPC has served notices to West Bengal, Bihar and Jharkhand governments saying it will be forced to shut Farraka thermal power plant if law and order situation is not maintained at the facility. Farraka generates 2,100 MW of which 500 MW comes to Bengal and rest is distributed among Bihar and Jharkhand.
ONGC to invest Rs41,678 crore to boost output
ONGC to invest Rs41,678 crore for bringing to production newer oil and gas fields and redeveloping ageing fields to boost output, in an effort to reverse the declining trend in output at bulk of its old and ageing fields. The company produced 25.94 million tonnes of crude oil and 23.52 billion cubic meters of gas in 2014-15. It will invest Rs24,188 crore in development of six projects both on the east and west coast.
IOC to expand capacity at Panipat refinery
Indian Oil will expand its refining capacity at Panipat refinery to 20.2 million tonne per annum with an investment of Rs15,000 crore – Positive for Indian Oil.
Alstom T&D wins transformer contract from PGCIL
Alstom T&D India won a contract worth about Rs108.8 crore from Power Grid Corporation of India to supply auto transformers. The contract is to provide ten 765 kV 500 MVA 1-ph auto transformers, which will be installed at two locations at the 765kV Gas Insulated Substation situated at Vemagiri, Andhra Pradesh, and 765kV Air Insulated substation at Vindhyachal, Uttar Pradesh.
HAL, BEL sign MoU to share their expertise in design
Hindustan Aeronautics Ltd ( HAL) and Bharat Electronics Ltd ( BEL) have signed an MoU to share their expertise in design, development, engineering and manufacturing to develop advanced airborne communication equipment to meet the requirement of the Defence services.
FSSAI orders recall of all nine approved variants of Maggi
FSSAI today ordered recall of all nine approved variants of Maggi instant noodles from the market, terming them 'unsafe and hazardous' for human consumption and also said that Nestle violated labelling regulations on taste enhancer 'MSG' and ordered company to submit compliance report on its orders within three day.
Torrent Pharma gets USFDA approval of hypertension drug
Torrent Pharma has got USFDA approval for generic version of Exforge HCT (Amlodipine, Valsartan, Hydrochlorothiazide) Tablets, marketed by Novartis Pharmaceuticals. Earlier Lupin also got approval for this drug. Teva had 180 days exclusivity on this product starting from December 1, 2014. We expect more players to join the fray. The drug had annual sales of approximately $158 million in the United States, according to IMS data as of September 2014.
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