Today in intraday market JSW Steel has entered into a
definitive agreement with Welspun Enterprise (WEL), to acquire the entire
equity shares held by the latter in Welspun Maxsteel (WMSL) for an enterprise
value of Rs 1000 crore plus net current assets as of 31 August 2014. The move
is aimed at achieving the strategic goal to enhance its steel production to 40
MTPA in the next decade. The agreement is subject to the relevant regulatory
approvals and customary closing conditions.
HCL Technologies has reportedly bagged a deal worth about
AUD 35 million (over Rs 198 crore) from Sydney Trains to support and maintain 107
of its business applications.Shares of Sesa Sterlite, the subsidiary of London-listed
Vedanta Resources, gained more than 4 percent on Goa government's announcement
of resuming operations in the mining industry by year-end.
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