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JSW Steel on Tuesday said the company will invest Rs 75,000 crore in brownfield and greenfield expansion...

JSW Steel to inject Rs 75,000 cr by 20

Mumbai: JSW Steel on Tuesday said the company will invest Rs 75,000 crore in brownfield and greenfield expansion,taking its total capacity to the 32 million tonne per annum mtpa by 2020. JSW Steel vice-chairman amp; managing director Sajjan Jindal said,Coal and iron mining leases in various regions within the country are in different stages of regulatory approvals.

Piramal shareholders OK Abbott deal

New Delhi: Shareholders of Piramal Healthcare have approved the 3.72-billion about Rs 18,000 crore deal by the company to sell its domestic solutions business to US-based Abbott Laboratories. The company,which had sought shareholders approval through a postal ballot in May,informed the Bombay Stock Exchange BSE last week that an overwhelming majority had approved it. Of the total non-promoter votes that were exercised,99.85 per cent votes are in favour8230; the company said.

Abbott India Q2 net down 20 per cent

New Delhi: Drug maker Abbott India has reported a net profit of Rs 14.07 crore for the quarter ended on May 31,2010,a decline of 19.9 per cent compared to the similar period last year when it had reported a net profit of Rs 17.58 crore. Abbott said in a statement on Tuesday that during the quarter under consideration,net sales rose to Rs 224 crore,a growth of 15 per cent compared to Rs 193.82 crore in the same quarter last year. The company follows a December-November fiscal year.

MMTC net rises 54 pc in FY10

New Delhi: State-run trading firm MMTC on Tuesday reported a 54.21 per cent rise in net profit at Rs 216.24 crore for the year ended March 2010. The company had clocked Rs 140.22 crore net profit in the last fiscal. Turnover of the company increased to Rs 46,263.91 crore during the year against Rs 37,017.44 crore in 2008-09,it said in a release here. The MMTC board has recommended the final dividend of 90 per cent on every share of Rs 10 face value and a 1:1 bonus share issue besides share split of 1:10.

Vedanta to invest Rs 350 cr in hospital

New Delhi: Mining giant Vedanta on Tuesday said that it is setting up a 360-bed cancer hospital in Raipur,Chattisgarh,with an investment of around Rs 350 crore. This 360-bed hospital is being built on 50 acres of land with an estimated cost of over Rs 350 crore. Once fully operational,it will employ about 125 doctors and 300 nurses, the company said.

Union Bank raises Rs 500 cr via bonds

New Delhi: Public sector lender Union Bank of India has said it has raised Rs 500 crore as capital by way of debt. In a filing to the stock exchanges,the bank said it has raised capital to the extent of Rs 500 crore by issuing bonds. The bonds would mature after 15 years from June 28.