06 April 2015 TOP CORPORATE NEWS

TOP CORPORATE NEWS

·         RBI bi-monthly monetary policy on April 07

Reserve Bank of India ( RBI) bi-monthly monetary policy – On April 07, 2015. RBI will release its monetary policy review and as per Bloomberg survey, the repo rates may be kept unchanged.

However market participants expect some easing in CRR ( cash reserve ratio) rates which will help in better transmission of rates by banks.

·         KEC International wins orders of Rs1565 cr

KEC International has announced that the company has secured new orders of Rs1565 crore in its Transmission & Distribution and Cables businesses.

Orders in Transmission & Distribution are total amounting to Rs1458 crore, including orders in India, Bangladesh, Oman, Malaysia and the Americas. This includes India orders of Rs1185 crore.

 

·         Ramky Infra bags order valued Rs829 cr

Ramky Infrastructure, an integrated construction and infrastructure development company in India, announced that the joint venture (JV) comprising Ramky Infrastructure and T K Engineering Consortium has been awarded the project worth Rs829 crore. The project is for four laning of NH 52 from of Biswanath Chariali by-pass (Km 208) to Gohpur (Km 265.50) (Total length = 57.50 km) in the state of Assam on EPC basis.

·         L&T Construction wins orders valued at Rs5492 cr

Larsen & Toubro ( L&T) announced that its construction arm won orders worth Rs 5492 crore across various business segments in March 2015.          

                                                                                                                                                                                                                                             

·         Natraj Proteins enters into MOU for Sale of Wind Power project

Natraj Proteins announced that the Company has entered into a MOU for selling of its Wind Power unit of 750 KW on 30 March 2015 for total consideration of Rs 2.40 crore.

·         Dr Reddy's to buy select UCB brands for Rs 800 cr

Dr Reddy's Laboratories, has entered into a definitive agreement to acquire a select portfolio of the established products business of UCB, a Belgian biopharmaceutical firm, in the territories of India, Nepal, Sri Lanka and the Maldives for Euro 118 million (close to Rs800 crore).

·         Aurobindo gains on USFDA nod for Sildenafil Injection

Shares of Aurobindo Pharma rose over to Rs1289.85, after the company said it received approval from the US health regulator to manufacture and market Sildenafil injection in the US market.

·         HSBC PMI: Services growth slowed in March

The HSBC Services Purchasing Managers' Index ( PMI) eased to 53.0 in March from February's eight-month high of 53.9. A reading above 50 indicates growth, and March was the 11th straight month of expansion.

·         M&M to stop vehicle sales in Brazil; sentimentally negative

Mahindra & Mahindra ( M&M) has decided to exit the Brazilian market owing to sluggish economy, changes in regulation and depreciating currency. The company was selling pick-up trucks and SUVs in the Brazilian market and had local assembly operations there. The company had managed to sell just 4,000 units over the last seven years. The company would however continue to sell tractors in Brazil.

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