[T.S.R:11632] notes to read

Dear All,

Japanese conglomerate NTT Group has entered the race to acquire a majority stake in Mumbai-based Patni Computer System along with L&T Infotech and Japan's Fujitsu.

Gilbarco Inc, a US-based fuel control service provider would acquire the petroleum dispensing pump business of L&T for a deal close to Rs 200 cr. L&T's move is part of it's ongoing exercise to get out of non-core businesses.

IDBI Bank, which has raised $225 million foreign currency loan to fuel its business growth, is planning to mop up $1.5 billion through bond issue by early next year.

SAIL is looking at acquiring licences for coking coal mines abroad to insulate itself from raw material price fluctuations. Furthermore, the company plans to invest around Rs 60,000 crore over the next three years for an additional capacity of 9 mn tones of steel from its current level of 13 mn tones.

Sun pharmaceutical has secured tentative approval from the US FDA for the generic version of gleeven, used to treat chronic myeloid leukaemia. The drug has an estimated market size of close to $900 million.

JK Lakshmi Cement will invest Rs1,200 cr for setting up a 2.7 million tonne capacity Greenfield plant in Chattisgarh that will increase the company's total production capacity by over 50%.

The government has approved NRI billionaire LN Mittal-led Arcelor Mittal's over Rs.500 cr FDI for acquisition of 35% stake in Uttam Galva.

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