Future Group acquires supermarket chain Nilgiris for Rs 300 crore
Future Consumer Enterprises (FCEL), the food and FMCG (fast-moving consumer goods) arm of the Kishore Biyani-led Future Group, has acquired Nilgiris, which runs a chain of convenience stores in South India, the company said in a statement on Thursday. The Future Group acquired a 98 per cent stake... read more »
Kotak Mahindra, ING Vysya shares soar following merger buzz
Shares of ING Vysya Bank and Kotak Mahindra Bank are witnessing aggressive buying on unconfirmed reports that Kotak Mahindra Bank to acquire ING Vysya Bank and may merge ING with itself. ING Vysya shares were up by Rs. 103 (13.7 per cent) to quote at Rs. 863.70. Shares of Kotak Mahindra Bank have... read more »
Coal block auction to have cushion against tariff shock
NEW DELHI: The government will protect power consumers from getting a tariff shock from coal block auction and cap the number of mines or quantity of reserves that goes to one entity with a view to prevent a monopoly scenario. “It (auction) is not a revenue-maximizing approach … the... read more »
US court overturns bid by Ranbaxy to block launch of rival generic drugs
A US court has denied a request by drugmaker Ranbaxy Laboratories Ltd to stop competitors from launching copies of AstraZeneca Plc’s heartburn pill Nexium and Roche’s antiviral Valcyte, a court filing showed. Ranbaxy had sought the restraining order against Dr Reddy’s Laboratories... read more »
