Rajasthan-based Shree Cement Ltd has decided to invest Rs 1,200 crore in the current financial year to expand its production capacity, including setting up two greenfield plants and installing four captive power plants.

According to company officials, the investments would be made in two grinding units in Rajasthan and Uttaranchal, and two power plants of 50MW each at Bangur city.

The Godrej group has exited the pest control service business by selling its entire shareholding in Godrej HiCare to ISS a leading Denmark-based facility services company at a consideration of around Rs 100 crore.

Godrej group flagship, Godrej Industries, had a controlling stake of about 80% in Godrej HiCare, while the balance 20% being held by individuals like A Mahendran, director, Godrej HiCare.

Indian drug maker Piramal Healthcare Ltd, which is presently scouting for acquisitions in the US and Europe, expects the same level of growth during the current fiscal year as it witnessed in the in FY09.

The company expect to buy 2-3 companies in advanced markets like the US and Europe.

Apart from acquisitions, the company has also decided to hire 300-400 professionals in the super-specialty marketing division, by the end of this year across the country, taking its total employee base to 7,400.

KEC International, one of the largest Power Transmission EPC companies in the world, has received two new orders worth Rs 95 crore in Mozambique and Namibia.
 
According to an official statement, the first order, which is for Mozambique includes construction of a 100 km-110 kv transmission line and substation in Cabo Dalgado region.

FMCG company Marico has finally agreed to sell its stake in Sundari LLC to US-based Wellness Systems (WS), for an undisclosed amount.

Sundari LLC is engaged in the manufacturing and marketing of skincare cosmetics and accessories, primarily in the US and Europe.

While, Wellness Systems is a limited liability company promoted by two of Marico Group's senior managers who were in charge of the Sundari business.

However, it should be noted that the transaction is, subject to necessary regulatory approvals.