• Market is expected to open on flattish note and likely to remain range bound during the day. • Reliance Jio Infocomm is set to roll out its 4G LTE services in 800 Indian cities between April and June next year. According to sources, the company will in the initial stage offer 4G dongles, as well as mi-fi devices. The mi-fi devices will allow users to access 4G on any wi-fi-enabled phone - even the feature phones priced at around Rs 2,500 - thereby obliterating the need to buy expensive 4G handsets • The alleged irregularity in the coal block allocation to Hindalco took a new turn with a special court rejecting a closure report filed by the CBI in the case two months ago. The court directed the agency to examine former PM Manmohan Singh, who held the additional portfolio of coal minister at the time of the controversial allotment. • Bata India plans to increase its focus on e-commerce and digital platforms, having increased its appeal among the younger generations. Bata, which currently operates around 1,400 stores nationwide with an annual revenue of about Rs 2,000 cr is eyeing $1-bn (approx. Rs 6,000 cr) revenues in the next three-four years, says Thomas G Bata, Chairman. • The realty fund of IL&FS Investment Managers has exited the phase 1 of developer Wadhwa Groups residential project, The Address in the Ghatkopar suburb of Mumbai for Rs 225 cr. In 2011, IL&FS India Realty Fund had invested Rs 300 cr in the projects two phases, aggregating nearly 2.6 mn sq ft. • Foraying into radio business, Jagran Prakashan announced acquisition of Music Broadcast Pvt Ltd, which operates the popular Radio City FM stations • Dr Reddys Laboratories announced that it has launched anti viral drug Valganciclovir in the US market after the USFDA granted the approval. The drug is a therapeutic equivalent generic version of Roche Holdings AGs Valcyte. • Kirloskar Oil Engines aims to more than double its exports to Rs 500 cr in the next two years and plans to focus on developed and Asian markets to achieve the target. • Emami eyes big share in homeopathy segment. Emami group announced a partnership with German homeopathic company Hevert-Arzneimittel. The partnership between the Frankfurt-based company and Emamis homeopathic vertical M Bhattacharya & Co will enable the company to import and market Heverts products in India. • JBF to consider fund raising through FCCB/QIP. • Samsung launches apps for emergency support to woman children along with ZICOM ELECTRONIC. • Mahindra & Mahindra may observe up to 7 days in a month as No Production Days at some of its plants till March 2015. • The committee of Directors of Natco Pharma Ltd at a meeting held on December 16, 2014 allotted 1,61,775 equity shares of Rs. 10/- each at a premium of Rs. 1190/- per share on preferential basis other than cash to the promoters of Natco Organics Limited. • The Odisha government has issued orders to restart operations of four captive iron ore mines of Tata Steel following an interim order of the Odisha High Court (HC).
Posted on: Wed, 17 Dec 2014 05:23:45 +0000
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