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Business Briefs

Tata Motors debt

New Delhi, May 20: Tata Motors has raised Rs 4,200 crore (about $880 million) in fresh debt for part repayment of its $3-billion bridge loan taken for acquiring Jaguar and Land Rover. The company has raised the amount through sale of non-convertible rupee debentures, guaranteed by the SBI, in four tranches with maturities ranging from 23 to 83 months.

Pfizer pact

New Delhi, May 20: Drug firm Pfizer has entered into licensing pacts with two Indian pharma firms — Aurobindo Pharma and Claris Lifesciences — for strengthening its emerging market business and expanding its portfolio of off-patented medicines under the established products business.

Crude surges

London, May 20: The price of New York oil has struck $62.14 a barrel, the highest level since November 10, as traders reacted to a bigger-than-expected drop in US crude reserves and a weak dollar. The new price peak came after the US government announced that American oil inventories tumbled 2.1 barrels in the week ending May 15.

Growth forecast

Mumbai, May 20: Barclays today revised India’s growth projection for 2009-10 to seven per cent from the earlier forecast of 5.5 per cent on the prospects of a stable government.

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