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Monday, July 27, 2015

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ITNL secures Rs2288 cr project from NHAI
IL&FS Transportation Networks Ltd ( ITNL) has bagged Rs 2,288.18-crore worth project from NHAI for four-laning of Amravati-Chikhli section of NH-6 in the state of Maharashtra.
The company has been awarded the project through issuance of a letter of award dated July 24, 2015 by NHAI. The company had quoted a grant of Rs183.05 crore for project.

Rajesh Exports buys world's largest Gold Refining Firm
Rajesh Exports through its wholly owned subsidiary in Singapore has fully acquired European Gold Refineries, the 100% holding company of Valcambi in an all cash deal with a total investment of $ 400 million.

Grant Thorton assisted Rajesh Exports in due diligence and Credit Suisse is part financing the acquisition through a long term debt.
                                                                                   
ONGC plans to invest $8.8 billion in KG-basin
ONGC plans to invest over USD 8.8 billion in bringing to production KG-basin oil and gas discoveries by 2018-19.

Railways project worth Rs81,459 cr to be completed by 2019
Railways 'Dedicated Freight Corridor' project worth Rs81,459 cr to be completed by 2019 – Positive for wagon manufacturers like Texmaco, Titagarh, BEML.

Hero MotoCorp planning to buyout Erik Buell Racing
Hero MotoCorp (Hero) is looking to buyout Erik Buell Racing (EBR) its Us based technology partner. In 2013, Hero had picked up a 49.2% stake in EBR at Rs150 crore.
However, due to financial difficulties EBR had filed for bankruptcy in April’15. This had jeopardized some of Hero’s projects such as the HX250R and the Hastur showcased in Auto Expo 2014.

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