SAIL has won the PSE Excellence Award-2013 for Corporate Social Responsibility & Sustainability in Maharatna & Navratna category. Advisor to the Hon’ble Prime Minister of India Mr TKA Nair, and Secretary, DPE Mr OP Rawat, presented the trophy and the certificate to Chairman, SAIL Mr CS Verma in the award function held at New Delhi on 16th December, 2013. In his acceptance speech, Mr Verma dedicated the award to SAIL team and stated that while investing in addition of new capacities, SAIL would also invest more in social and sustainability initiatives. The PSE Excellence Awards have been instituted by the Department of Public Enterprises, Government of India and Indian Chamber of Commerce.
Oberoi Hotels & Resorts Voted As Leading Luxury Brand At World Travel Awards
Oberoi Hotels & Resorts has been voted for the second consecutive year as ‘World’s Leading Luxury Hotel Brand 2013’ at the World Travel Awards (WTA). “The award is an affirmation of The Oberoi Group’s unwavering commitment towards offering guests world-class facilities and unsurpassed service,” The Oberoi Group Executive Chairman P R S Oberoi said in a statement. The Group has presence in six countries under the luxury ‘Oberoi’ and five-star ‘Trident’ brand.
HCC Wins Rs 1,597-Crore Contract For Hydro Project In Uttarakhand
Hindustan Construction Company (HCC) has won a Rs 1,597-crore contract to construct a Hydro Power Project in Chamoli in Uttarakhand from THDC India Limited (formerly Tehri Hydro Development Corporation Limited), which is jointly promoted by the central government and UP state government . “Vishnugad Pipalkoti Hydel power project is a 444 MW (4×111 MW) run-of-river scheme on Alaknanda river, which is a major tributary of river Ganga,” the company said in a statement. The project to construct Vishnugad Pipalkoti Hydro Electric Power project in Chamoli district of Uttrakhand will be under the EPC (Engineering, Procurement and Construction) mode for civil and hydro-mechanical works and is to be completed in 54 months.
Carlyle Group Buys 28 Per Cent Stake In Global Health
Carlyle Group a private equity fund has made a strategic investment of Rs 960 crore in Dr Naresh Trehan promoted hospital chain Global Health. The investement includes a significant equity stake held by an affiliate of Avenue Capital Group. Carlyle Group has picked up 28 per cent stake in the company. “We will leverage our healthcare industry expertise to support the company’s growth plans and further improve the quality of its medical services,” said Neeraj Bharadwaj, MD, The Carlyle Group. Global Health, founded by Dr Trehan, a cardiac surgeon, operates a 900- bed hospital in New Delhi, providing super-specialty care in cardiology, neurology, gastro and liver transplant.
Pepsico India To Set Up New Beverage Plant In AP
PepsiCo has announced to invest over Rs 1,200 crore to build a new beverage manufacturing facility in Dri City in Andhra Pradesh. “PepsiCo intends to invest more than Rs 1,200 crore in the project, which is part of the recently announced plans by PepsiCo and its partners to invest Rs 33,000 crore in India by 2020,” the company said in a statement. This would be the largest beverage plant in India. “Sri City is ideally located and offers the perfect opportunity to harness the benefits of superior connectivity, great infrastructure and an ample talent pool, which are the prerequisites for every industry,” PepsiCo India Chairman and CEO D Shivakumar said.
NHPC COMPLETES RS 2,368 CRORE SHARE BUYBACK
State-run NHPC has bought back equity worth Rs 2,368 crore in which 123 crore equity shares was brought back at Rs 19.25 apiece. More than 142.6 crore shares were tendered in the offer, which started on November 29 and closed on December 12. The company purchased 110.7 crore shares worth more than Rs 2,130 crore from the government, equivalent to 90 per cent of the buyback. The government’s stake in the company was reduced to 85.96 per cent from 86.36 per cent.
BRITANNIA INDUSTRIES QUARTERLY NET PROFIT UP 65.5 PER CENT
Confectionery major the Britannia Industries today posted 65.66 per cent rise in net profit at Rs 87.85 crore for the fourth quarter ended March 31. The company had reported net profit of Rs 53.03 crore during the January-March quarter of 2011-12 fiscal. Net sales rose to Rs 1,486.63 crore during Q4, 2012-13, as against Rs 1,309.57 crore in the same period of 2011-12 fiscal, Britannia Industries said in a statement.
SIDHARTH BIRLA TAKES CHARGE AS FICCI CHIEF
Chairman of Xpro India Ltd. And Digjam Limited Sidharth took over as the President of Federation of Indian Chambers of Commerce and Industry (FICCI) succeeding HSBC India Country Head Naina Lal Kidwai. Sidharth Birla has been a Director on various corporate bodies since 1977. He is a Master of Business Administration (MBA), 1980, IMEDE (now known as IMD), Switzerland. He has also participated in Owner-President Management Program (OPM 33), 2002, 03 & 04, Other Executive Education programs at Harvard Business School & IMD. Sidharth Birla is a Bachelor of Science (B.Sc. Hons.) in Physics, 1976, Calcutta University.