Lenders led by State Bank of IndiaBSE -1.18 % are set to approve a bid for Jyoti StructuresBSE 4.92 % by a clutch of ultra-high net worth individuals, led by Netmagic founder Sharad Sanghi, said two bankers in the know...
RInfra emerges lowest bidder for NTPC Rs 567 crore contract
Anil Ambani-led Reliance Infrastructure has emerged as the lowest bidder to bag a Rs 567 crore turnkey contract from NTPC for carrying out of Flue Gas Desulphurisation (FGD) works of its 1,500-mw power plant at Jhajjar...
Burn Standard’s readies resolution plan, looks to raise Rs 100 crore and sell land
State-owned wagon maker Burn Standard is planning to put up its land on sale to pay off about Rs 100 crore dues to creditors of about Rs 100 crore as the last ditch attempt to get out of bankruptcy proceedings. Burn...
Hyundai Heavy Industries plans to raise $1.2 billion in sale of new shares
Hyundai Heavy Industries Co., the world’s second-biggest shipbuilder, plans to raise about 1.29 trillion won ($1.2 billion) selling new shares for working capital amid shrinking orders in the global industry. The...
L&T may sell some assets by March to fund acquisition spree
Larsen and Toubro Ltd (L&T), India’s largest engineering and construction group, said it expects to sell its electrical unit and spin out its road assets trust by March 2018, a sign that funding for plans to acquire...
Naik recalls thwarting takeover bids from Ambanis & Birlas
A M Naik, the non-executive chairman of the country’s largest construction and engineering firm Larsen & Toubro (L&T), has recalled in his biography how he thwarted hostile takeover bids from the Ambanis and...
Larsen & Toubro Infotech to acquire Syncordis SA
Larsen & Toubro Infotech (LTI) today said it will acquire Luxembourg-based Syncordis SA along with its subsidiaries in France, UK, Luxembourg and India for 15 million euros (about Rs 115.28 crore). The transaction...
General Electric mulls options for aircraft leasing unit – sources
General Electric Co (GE.N) is exploring options for its aircraft leasing operations, including the sale of all or part of the business, as Chief Executive John Flannery searches for new divestitures, according to people...
AXISCADES acquires Mistral for Rs 175 crore
AXISCADES, the product engineering services firm backed by Rajeev Chandrasekhar’s Jupiter Capital, has acquired Bengaluru-based defence product firm Mistral for Rs 175 crore as it looks to expand newer business...
L&T to sell subsidiary EWAC Alloys for Rs522 crore
Engineering major Larsen and Toubro Ltd (L&T) on Wednesday announced the sale of unlisted subsidiary EWAC Alloys Ltd as part of its strategy to exit non-core businesses. In a stock exchange filing, Larsen and Toubro...
Larsen & Toubro acquires full stake in L&T Cassidian
Larsen & Toubro today said it has acquired the remaining 26 percent stake in L&T Cassidian Ltd — a joint venture between the engineering conglomerate and Airbus Defence and Space GmbH (Airbus DS)...
Talking to GE to tweak $2.5 billion locomotive deal: Piyush Goyal
Two years after signing an agreement with General Electric Co. for a local diesel-engine factory, India said it is in talks to alter the contract as it favors electric locomotives. Railway Minister Piyush Goyal said the...
