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DAILY CORPORATE NEWS
Godrej subsidiary acquires Cream line Dairy's 25% stake for Rs150 crore
Godrej Industries subsidiary Godrej Agrovet has acquired a majority stake in Hyderabad-based Cream line Dairy, making its foray into the country's Rs4 lakh crore dairy business.
The Godrej Group firm has bought a 25 per cent stake in Cream line at an enterprise value of about Rs550 crore, taking its total holding in the dairy firm to 51%. Godrej Agrovet (GAVL) had bought 26% of Cream line in 2005.
Havells to start manufacturing small domestic appliances
Havells to start manufacturing small domestic appliances like mixer grinder, juicer mixer grinder, electric iron, induction cook top, among others from January 2016- positive read thru for Havells.
RCom in talks with Aircel to combine wireless business
Reliance Communications (RCOM) has said that it has entered into a 90-day exclusivity period with Maxis Communications Berhad (MCB) and Sindya Securities and Investments Private Limited, the shareholders of Aircel Limited, to consider the potential combination of the Indian wireless business of RCOM and Aircel to mutually derive the expected substantial benefits of in country consolidation, including opex and capex synergies and revenue enhancement.
Aurobindo rises on USFDA approval for Olopatadine Hydrochloride
Aurobindo Pharma Limited has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Olopatadine Hydrochloride Ophthalmic Solution USP, 0.1%. This product is ready for launch.
Marico drops on bonus issue of 1:1
Shares of Marico have dropped 4% to Rs222 on NSE as the company has announced a bonus issue of 1:1.
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