TOP CORPORATE NEWS - 16 FEB 2016

HCL signs IT outsourcing deal with Volvo Group

HCL Technologies (HCL) a leading global IT services provider, has said that it has signed a significant IT outsourcing deal with the Volvo Group, one of the world’s leading manufacturers of commercial vehicles and the customers of its external IT business.

HCL also acquired Volvo’s external IT business, adding 40 new customers from the Nordics and France to its portfolio, further enhancing its market leading position in these regions. Approximately 2,500 highly skilled people working for the Volvo Group will transfer to HCL across 11 countries.

Gati gains on plan to invest in logistics start-ups

Shares of Gati rose over 9%, touching to Rs118.4, after the company said it will invest in startups in the delivery space as the company tries to achieve its target of delivering 1 million packages per day by 2020.

Biocon gets approval for generic Crestor in Europe

Biopharma major Biocon has received its first generic formulations approval in the regulated markets for a drug to reduce cholesterol. The company will begin selling its Rosuvastatin Calcium tablets indicated for hyperlipidemia or mixed dyslipidemia in 15 European countries starting financial year 2017.

M&M to invest Rs8, 000 cr on automotive plants in Maharashtra

Automotive manufacturer Mahindra & Mahindra (M&M) plans to invest Rs 8,000 crore in manufacturing plants in Maharashtra as part of its expansion plan.

M&M has 4 plants in Maharashtra – Chakan (Pune), Nashik, Kandivali and Igatpuri. This investment will be made over a period of 7 years and will be utilised towards infrastructure development, product development and capacity expansion for vehicles to be rolled out from Mahindra's plants in Maharashtra.

Punj Lloyd gains on winning contracts in Oman

Shares of Punj Lloyd gained over 6%, touching to Rs23.7, after the company won pipeline contracts worth Rs 2070 crore in Oman.

Punj Lloyd announced winning oil & gas EPC orders worth Rs2070 crore from Oman Oil Refineries and Petroleum Industries Company (Orpic) and Oman Gas Company (OGC) which are owned by the Government of the Sultanate of Oman and Oman Oil Company SAOC.

                                                         

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