Corporate News

Videocon Industries has decided to buy Finnish company
Elcoteq, engaged in contract manufacturing of mobile
phones and other electronic items, in a deal estimated at
around $73 million. - BS

􀂄 As a part of its strategy to unlock the value of its 1,100 acre
huge land-bank, Patel Engineering, plans to foray into the
realty business and build commercial and residential
property, IT parks and SEZs over the next three-years. - BS

􀂄 Ashok Leyland's Rs 1,300-crore Pantnagar (Uttarakhand)
plant is likely go on stream within the next few months. - BS

􀂄 Global conglomerate GE stated that all its standalone
healthcare business units in India will be merged into its
joint venture with Indian IT giant Wipro to "accelerate growth"
in the country as well as South Asia. - BS

􀂄 Grasim Industries announced that it will demerge its cement
business into another group company, Samruddhi, as part
of a restructuring plan. - BS