Corporate Snippets
² Tata Power announced termination of a share purchase agreement (SPA) with Ideal Energy Projects Limited (IEPL) for acquisition of 100% stake in a 270-mw coal based thermal power project in Maharashtra, extendable to 540 Mw. (BS)
² Blue Star, is eyeing around 12% market share in the Indian AC market by end of FY17 from the current 10.5%. After launching THE company's new range of star rated inverter ACs, B Thiagarajan, Executive Director & President - AC&R Products Business, Blue Star Limited said that the room AC segment is estimated to be around Rs110bn in the overall AC market, which is estimated to be around Rs150bn. (BS)
² Low cost carrier SpiceJet announced its cheaper deals for domestic base fares as low as Rs826 and overseas base fares starting at Rs3026. (BS)
² Mahindra and Mahindra (M&M) had offered its new generation Scorpio for bookings online on e-commerce portal Snapdeal in September 2014. The success of the endeavour encouraged the company to now offer its latest offering the micro sports utility vehicle (SUV) KUV100 online on Flipkart and two other platforms. (BS)
² Eros International Media Ltd has announced its pipeline of 65-plus films across multiple languages for this year. The titles include Housefull 3, Shivaay, Singam 3 and Rock On 2. (BL)
² Emami Ltd has launched a new product Zandu Pure Honey. In a statement, the company said the product's 100% purity is guaranteed, and no sugar is added to it. It is available in pack sizes of 100 gm, 250 gm and 500 gm and priced at Rs75, Rs165 and Rs270, respectively. (BL)
² At least five Indian drug companies — Torrent Pharmaceuticals, Dr Reddy's Laboratories, Aurobindo Pharma, Cipla and Lupin — are in initial discussions to bid for Sagent Pharmaceuticals, a Nasdaq-listed specialty injectables maker, sources familiar with the talks said. (ET)
² Looking to exit the stalled 4,000 MW Krishnapatnam power project, Reliance Power has written to Andhra Pradesh government suggesting that it could be done on similar lines to that of Tilaiya UMPP, which was acquired by procurers from the company. (BS)
² Indian naval ship (INS) Vikrant, the first aircraft carrier, which played a pivotal role in the 1971 Indo-Pak war, has made its way into a commuter bike to be launched by Bajaj Auto next month. It will launch a 150-cc motorcycle on February 1 christened 'V' which is built from metal used in the country's most celebrated aircraft carrier. (BS)
² The Paradip Refinery of Indian Oil, which is set to be dedicated to the nation on February 7, will massively boost the bottomline of the largest oil marketeer to the tune of 20-30%, thanks to the latest technologies deployed at the facility that's coming up after a delay of 14 long years. (BS)
² Drug discovery firm Sun Pharma Advanced Research Company (SPARC) has received markets regulator Sebi's approval to raise up to Rs2.50bn through a rights issue. (BS)
² Apollo Energy Company Limited, an Apollo Hospitals Group company, has approved the divestment of 23.3% shareholding in Apollo Munich Health Insurance Company Limited to its joint venture partner, Munich Re of Germany for Rs1.6bn. The proposed transaction values Apollo Munich at Rs7bn. (BS)
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