Reliance Industries (RIL) and Kuwait Petroleum (KPC), the national oil major of Kuwait, have reportedly begun the first round of discussions for scripting a mega joint collaboration across the oil and gas vertical. KPC is keen to rope in RIL as a partner in its upcoming projects in Kuwait in both refining and petrochemicals.

Kishore Biyanis Indivision Capital, the private equity arm of Future Capital, announced that it would buy 4.9% in Subhash Chandras direct-to-home (DTH) business Dish TV for Rs 250 crore. Dish TV will raise the money in two tranches. Dish TV's board has approved a preferential allotment of 12.5 million equity shares of Re 1 each at a price of Rs 100. The company will raise Rs 125 crore through this allotment.

Maharashtra Seamless (MSL), the flagship company of Rs 3,000-crore DP Jindal Group, is reportedly close to acquiring the seamless pipes plant of SC Republica SA in Romania. The deal size is expected to be around Rs 250 crore. The plant, based at Bucharest, has two lakh tonne annual capacity, the report added.

Glenmark Pharmaceuticals reportedly plans to acquire a distribution and marketing company in Indonesia, in a bid to increase its foothold in Asias emerging markets. The comapny is rapidly firming up plans to expand its presence across Asia through both organic and inorganic growth opportunities, the report added.

Unitech reportedly plans to hive off its retail business (mall development) as a separate profit and loss centre. At a later stage, the company would even look at listing the business in a foreign exchange, the report added.

JSW Steel said on Wednesday, 5 December 2007, its crude steel production rose 16% in November 2007 over November 2006.

Powered byCapital Market - Live News