Quick View : Essar Power plans foray into distribution business

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Jan 16 2012, 00:46 IST

likely to sign a deal by mid-February to acquire 50% stake in Wonarah phosphate deposits of Australia’s Minemakers for an undisclosed sum. “Negotiations for the deal is in its final stages and the NMDC Board is likely to take a final call by January-end of early-February,” a source close to the development said. The source added that for the deal NMDC will form a 50:50 joint venture with Minemakers and the asset will be transferred to the JV.

Denso to invest R300 crore for new plant at Gurgaon

Japan-based auto component maker Denso Corporation plans to invest R300 crore to set up a new manufacturing facility at Gurgaon in Haryana as it looks to augment its production capabilities in India. The company, which is present in India through its unit ‘Denso International India’, is also scouting for land in South India to set up a manufacturing plant to cater to the increasing demand. Denso has already acquired 1.5 lakh sq metre site for this plant, and we are now preparing to start production by the end of 2013,” Denso International India chairman Yasushi Nei told PTI.

Glenmark eyes 20% sales growth in India in 3years

Glenmark Pharmaceuticals expects sales of its speciality business, which focuses on branded products, to grow by around 20% in India in next three years. “Objective of India business is to grow 18-20% sales CAGR for next three years. India, Russia and Brazil will remain focus markets,” Glenmark said in an investor report. Mumbai-based firm’s sales from speciality segment from

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