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Sun gets support of RMG in battle against Taro
Sun Pharmaceutical Industries’ attempts to take over Israeli drug major Taro Pharmaceutical is gaining more support from independent advisory firms. RiskMetrics Group’s ISS Governance Services (RMG), an independent proxy advisory firm, has recommended that shareholders of Taro Pharmaceutical Industries vote against all the proposals made by Taro’s board of directors, including all of its nominees for election and re-election as directors in the upcoming Annual General Meeting (AGM) scheduled for December 31, Sun Pharma said in a press release.

Bank employees get 17.5% wage hike, pension benefit
SBI unions walk out of pact saying interests not served

News of the day

Maytas Infra bags Rs 790 cr road project
Maytas Infra Ltd (MIL) has announced that it has bagged the Rs 790-crore Pune-Solapur road contract from IL&FS Transportation Networks Ltd (ITNL). The project is to be completed in 20 months.
Corporate

Indian Overseas Bank to raise Rs 800 cr by issuing bonds

Public sector Indian Overseas Bank today said it will raise an amount totalling to Rs 800 crore by issue of bonds on private placement basis. - Indian Bank to increase branches in Kerala to 100 in 2009-10 - IDBI Bank may shelve variable pay plan - Jharkhand asks Centre to rein in PSUs from "reckless" mining - BoB to hire 3,500 people by March 2010 - SAIL chief wins SCOPE award - Kerala HC ratifies HMT land sale The bank will garner Rs 510 crore by issue of unsecured redeemable non-convertible subordinate (Upper Tier II) bonds (Series III), Indian Overseas Bank said in a filing to the Bombay Stock Exchange (BSE). The bank would further raise Rs 290 crore by issuing unsecured redeemable non-convertible subordinate bonds (Series XII), it added. Shares of Indian Overseas Bank today closed at Rs 82.45 on the BSE, up 0.43 per cent from the previous close.


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