Corporate Highlights

• TCS gets multi-year deal from Avaya GlobalConnect. The IT major gets Avaya GlobalConnect deal for Internal IT Operations Management.

• JHS Svendgaard board has given nod for 11 lakh fresh warrants. The warrants will be alloted to promoters and strategic investors. These warrants will be convertible in 18 months. Last year, the company allotted 16 lakh warrants at Rs 46 per share. The company is looking to raise funds for starting personal care arm and working capital and to launch detergents. The company will look forAGM approval on September 22.

• IOL Chemicals & Pharmaceuticals is going to invest Rs 256 crore to expand its operations. The company is arranging Rs 170 crore via term loan. The company has equity share capital of Rs 58 crore, internal accruals, unsecured loans are worth Rs 28 crore. The company is going to up Ibuprofen raw material production. It is planning to focus on the Europe & US markets. Company targets Rs 500 crore revenue in FY11.

• GMR Official said that the company is going to raise Rs 800 crore debt and Rs 200 crore equity in FY11-FY13 for Hydropower.

• PSL has bagged an order valuing approximately Rs 500 crore from Gail India for supplying pipes for their Dahej-Vijaipur pipeline upgradation project (DVPL-II).