Pennar would have an outlay of $ 43.21 mn.on acquisitions.
Pennar Industries is into the manufacturing of cold rolled steel strips and cold formed metal profiles and engineering components. It provides its products to railways, road construction and automobile sectors. The company`s plants are located in Maharashtra, Andhra Pradesh and Tamil Nadu.
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Pennar will spend $ 43.21 mn on acquisitions.
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Founders of ICEX would divest 5% of its stake to International bourses.
ICEX , a Public Private partnership of MMTC Ltd and Indiabulls Financial Services Ltd started off in Novemeber 2009 is on look out for an overseas buyer to sell its 5% stake. It offers contracts primarily in metals and energy. ICEX is soon planning to launch zinc, nickel and mustard seed futures.
Technology
US based Co. acquires M2Junction: Eyes Indian Mobile Advertising Market
US based mobile messaging company, SinglePoint has acquired Indian mobile advertising firm, M2Junction for an undisclosed sum.
M2Junction is a provider of SMS/Mobile advertising platform, Ad-Junction. It allows publishers and advertisers to insert interactive clickable ads in text messages and also has...
Basic Industries
Dalmia Cement may acquire Sugar mill.
Dalmia Cement
has manufacturing business majorly in Cement, Sugar & Power Sector.Sugar manufacturing being second to Cement.
It has three sugar plants in Uttar Pradesh with a combined capacity of 22,500 tonnes crushed per day (tcd) and is looking at bidding for 3-4 government sugar mills in Karn...
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