Cipla, Maruti Suzuki, JSW Steel in Focus Today
- Maruti Suzuki India has launched its mid-sized sedan Ciaz, priced between 6.99 lakh-9.8 lakh (ex-showroom Delhi) yesterday. Through the launch of Ciaz, Maruti is looking to compete with Honda's City and Hundai's Verna.
- Cipla has signed an definitive agreement with its existing Iranian distributor to set up a plant in Iran. Under this agreement Cipla will invest around Rs 225 crore over a period of three years for 75 per cent stake in the plant.
- JSW Steel is reportedly in talks to buy debt laden iron ore minor London Mining. London Mining is a British mining company which has iron ore resources in Sierra Leone. Shares of London Mining had dropped nearly 96 per cent so far this year.
- Bharat Heavy Electricals (Bhel) has bagged an order worth Rs 359 crore from NMDC. Under this order Bhel will set up a power plant distribution system for NMDC's integrated steel plant in Chhattisgarh.
- Ranbaxy Laboratories has launched Absorica capsules in the US market. Absorica capsules are used for the treatment of severe recalcitrant nodular acne in patients of 12 years and older. The capsule is to be sold in the strength of 25 mg and 35 mg.
- Redington India: Pre booking for iphone 6 and 6 plus starts in India from today. Redington India is a distributer of iphone 6 in India.
- Ballarpur Industries has signed a definitive agreement with International Finance Corporation (IFC), USA for $100 million equity investment in its subsidiary Bilt Paper B.V. IFC will buy 14.29 per cent stake in Bilt Paper B.V.
- Apollo Tyres: Reserve bank of India has increased the investment limit to 45 per cent from 40 per cent for Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs), through primary market and stock exchanges.
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