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ICRA upgrades ratings for Titan Inds
Titan Industries, the manufacturer of mechanical, digital and quartz watches, jewellery watches etc., has announced that ICRA has upgraded the rating assigned to the Rs 52.83 crore, or 6.75 per cent non-convertible debentures and the Rs 100 crore bond programme of the company to LAA (pronounced as L Double A) from LAA- (pronounced as L Double A Minus) earlier.

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Gold falls the most in a year
With the greenback making gains, there is short term pressure on the yellow metal

News of the day

First medical device cluster to come up next to Nano in Sanand
State"s first medical device manufacturing cluster having a common research and development (R&D) facility in products and human resource development, will come up next to Tata Motors Nano"s plant in Sanand, official said.
Corporate

Gammon Infra hikes stake in Vizag Seaport

Gammon Infrastructure Projects has acquired 22.8 million shares of Vizag Seaport (VSPL) increasing its stake in the firm to 73.76 per cent and made it a subsidiary of the company. - Gammon achieves Rs 566 cr financial closure for bridge project - Natural rubber output dips 9% in September; export slumps - Four Soft gets contract from Dutch firm - Rupee at four-month high, rises 26 paise a dollar - Singapore, Paris firms keen on state airports - Leather units hit by declining orders VSPL owns two berths, handling bulk cargo, at the Visakhapatnam port. "The company has concluded the purchase of 22.8 million equity shares of Rs 10 each of VSPL from International Port Services, the investment arm of Portia Management Services of the UK," Gammon Infrastructure Projects said in a filing to the Bombay Stock Exchange (BSE) today. "The shareholding of the company in VSPL stands increased to 73.76 per cent, making VSPL a subsidiary of the company with effect from October 1," it further said. Shares of Gammon Infra were trading at Rs 95.95, down 2.29 per cent in the afternoon trade on the BSE.


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