Market News : 23rd Nov 09
GMR Infrastructure : Its Krishnagiri Tamilnadu SEZ is going to start its first phase construction from 2010. The company had signed a MoU with the Tamil Nadu Industrial Development Corporation (Tidco) in Aug 2007 to set up a multi-product SEZ but got late due to recession and now as the demand increases from IT and IT-enabled services (ITeS) companies GMR starts its first phase.
Emami : A Kolkata-based FMCG major is scouting for acquisitions in the domestic and overseas markets and says it can spend up to Rs 800 crore on this. The company acquired Zandu Pharmaceuticals for Rs 7000 crore last year and very soon it will become a debt free company. the company is currently exploring opportunities in the US and UK markets, and the size of the deal could be up to Rs 600-800 crore.
Tata Power : The company has raised $300 million Rs 1396.5 crore by issuing foreign currency convertible bonds (FCCBs). The FCCBs have a coupon rate of 1.75% for a period of five year and one day.
Medicis Pharmaceutical Corporation : US-based company has filed a case in a US court against Lupin, alleging the latter has infringed its patent in applying for marketing approval for a dermatology medicine.
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