Mahindra Satyam in spotlight after winning Bridgestone order

IT services firm Mahindra Satyam said it has bagged a multi-year managed services contract with Bridgestone Europe. The company will work on SAP-based mission critical applications for Bridgestone Europe, Mahindra Satyam said in a statement. No financial details were disclosed. As a part of the deal, Mahindra Satyam will support Bridgestone in sales, planning procurement and finance functions, it said.

Car major Maruti Suzuki India has decided to suspend production for a day at both of its plants in Manesar and Gurgaon today, 7 June 2013, to adjust inventory levels in response to falling sales.

Shares of organised retailers will be watched as the government said on Thursday, 6 June 2013, while clarifying rules for entry to the organised retail sector that global retailers planning to enter India in the multi-brand retail sector will have to make fresh investments in back-end infrastructure and acquisition of supply chain or back-end assets from existing entities would not be allowed.

Godrej Properties (GPL) announced the launch of phase 5 of its residential project in Kolkata - Godrej Prakriti. The new tower, standing 19 floors tall, will offer 3 bedroom, hall and kitchen (BHK) modern apartments measuring between 1,100 square feet (sq. ft.) and 1,400 sq. ft. In addition to Godrej Prakriti, GPL is also developing two commercial projects in Kolkata - Godrej Waterside and Godrej Genesis in Salt Lake Sector 5 and a super luxury residential project, Godrej Platinum, in Alipore.

The issue committee of the board of Fortis Healthcare has allotted 1.88 crore equity shares of the company to International Finance Corporation on preferential basis at Rs 99.09 per share, aggregating to Rs 186.62 crore.

RPG Life Sciences (RPGLS) has sold the leasehold rights of its surplus land admeasuring 14,149 square metres in Navi Mumbai for Rs 76.91 crore to Maruti Suzuki India. The proceeds from the transaction will be used for reducing the company's debt and investing in projects, said Ajit Singh Chouhan, managing director of RPGLS.

Kansai Nerolac Paints turns ex-dividend today, 7 June 2013, for dividend of Rs 11 per share for the year ended March 2013.

GVK Power & Infrastructure will be watched after GVK Hancock Coal appointed Thiess as preferred mine operations contractor for its $10 billion Alpha thermal coal project in the Galilee Basin. An early services agreement will see GVK Hancock working exclusively with Thiess to develop a 10-year mine plan and budget. Thiess' technical, engineering and plant expertise will be applied to develop the operational strategy and management plans, ensuring the thermal coal mine is a world-class, cost competitive operation. The team is expected to finalise the operational strategy, mine planning and management plan by the end of the year.

In September 2011, GVK had acquired 79% equity stake each in Alpha Coal and Alpha West Coal Mines and 100% equity stake in Kevin's Corner Coal Mines, located in Queensland, Australia from Hancock Coal Pty. for $1.26 billion. These mines have reserves of about 8 billion tonne and a capacity of more than 60 million tonne per annum. When combined, these projects will create one of the largest thermal coal mining operations in the world. GVK had acquired 100% stake in a 500 km rail link and 60 million tonne per annum port as part of the 'pit-to-port' logistics solution.

Powered by Capital Market - Live News