Bharti Airtel: The telecom major on Tuesday said its subsidiary Network i2i has entered into a definitive agreement with Egyptian firm Orascom to acquire the latter’s entire equity stake in Middle East North Africa Submarine Cable Systems for an undisclosed amount.
Tata Global Beverages: A day after Cyrus Mistry quit from six Tata group firms, Independent Director Analjit Singh, who was supporting the ousted Chairman, resigned from the board of Tata Global Beverages.
Godrej Consumer Products Ltd: FMCG major Godrej Consumer Products has made Kenyan firm Charm Industries as its wholly-owned subsidiary by acquiring the rest 49 per cent share for an undisclosed amount.
Reliance Communications: Fitch Ratings on Tuesday said it has downgraded credit rating of Reliance Communications as it feels that ongoing joint venture plan of the company with Aircel and proposal to sell stake in its mobile tower arm will be negative for creditors.
Sun Pharmaceutical: The pharma company said it has completed the acquisition of 85.1 per cent stake in Russia-based JSC Biosintez.
Sasken Communication: The company on Tuesday informed bourses that a meeting of the buyback committee of the board of directors of the company will be held on December 23, to finalise the price at which the shares will be bought back and to fix the record date to ascertain the shareholders who are eligible to participate in the buyback.
Rural Electrification Corporation: Global financial services firm UBS has increased target price of REC to Rs 165 from Rs 145 earlier.
Essel Propack: This is to inform that the company is raising funds through issue of commercial papers for Rs 20 crore on private placement basis.
Satin Creditcare: The company informed bourses that a meeting is scheduled to be held on December 23 for issuance of non-convertible debentures upto the amount of Rs 15 crore through private placement basis.
NHPC: The company informed bourses that it may propose and consider interim dividend on the equity share capital of the company for 2016-17 in its meeting scheduled to be held on Thursday, December 22.