GlobalLogic, a provider of software product development services, plans to acquire a Bangalore-based captive R&D unit of a US company this month. The target captive centre employs 40-50 professionals and focuses on...
Steel Ministry proposes 8.38% NMDC stake sale
The Government has taken an important step towards disinvestment of an 8.38 per cent equity stake in the iron ore producer NMDC with the Steel Ministry recommending the stake sale to the Department of Disinvestment in...
Essar Steel to acquire Shree Precoated
Essar Steel entered into a definite business transfer agreement on Monday to acquire Pune-based Shree Precoated Steels (SPS) for an undisclosed sum. Mr J. Mehra, Chief Executive Officer, Essar Steel, said at a press...
ABG raises offer price for Great Offshore to Rs 520
The battle for Great Offshore has intensified with ABG Shipyard again hiking the offer price to Rs 520 a share after making a series of bulk and block purchases of Great Offshore stocks in the last few days. ABG...
Novopan drops amalgamation plan
Novopan Industries Ltd has decided to drop the proposal for amalgamation of Vertex Projects Ltd (erstwhile GVK Projects Ltd) along with its wholly owned subsidiary, GVK Aviations (P) Ltd (transferor companies) with...
Defiance Tech scouting for buys
Defiance Tech, the Chennai-based engineering services company of the Hinduja Group, is set to establish an a centre in Bangalore. It is also on the lookout for acquisitions. The Bangalore centre would focus on aerospace...
L&T seeks SEBI nod to exit Mahindra Satyam
Engineering and construction major Larsen and Toubro has sought the Securities and Exchange Board of India’s approval to sell its stake in IT services company Mahindra Satyam. L&T will be able to exit the...
HCL Tech completes US data centre buy
HCL Technologies on Monday announced that it had completed the acquisition of a 35,000 sq ft data centre from a Fortune 500 organisation in New Jersey. The new data centre would help HCL expand its delivery footprint in...
RINL-Manganese Ore JV
Rashtriya Ispat Nigam Ltd (the Vizag steel plant) and the Manganese Ore India Ltd have formed a joint venture – RINMOIL Ferro-Alloys Pvt Ltd – to manufacture ferro-alloys, according a press release. The JV...
Carborundum Universal demerger
Carborundum Universal Ltd is considering a demerger of its joint venture in China. CUMI has informed the exchange that the company is exploring a demerger proposal of the joint venture in China, Jingri-CUMI Super Hard...
Kazakh field: OVL, Mittal can join hands
Decks have been cleared for ONGC Videsh Ltd, the overseas investment arm of ONGC, to partner with Mittal Investments for acquiring stake in Satpayev oilfield in Kazakhstan. The Cabinet Committee on Economic Affairs...
ABG Shipyard hikes stake in Great Offshore, raises open offer price
The bid to control Great offshore took a new turn on Wednesday after ABG Shipyard acquired over 19.26 lakh shares of Great Offshore in separate bulk deals on the BSE and NSE at Rs 450 a share. This has automatically...
