TOP CORPORATE NEWS
Cabinet
approves Rs20,000 crore budget for 'Namami Ganga Programme
The
Union Cabinet has approved a massive Rs20,000 crore budget for ' Namami Ganga
Programme' for the next five years towards the conservation of the river
– positive for Va Tech Wabag and ITD cementation.
Glenmark Pharma
gains after CLSA starts coverage with Buy
Glenmark
Pharmaceuticals' shares rose over 2%, touching to Rs913, after CLSA starts
coverage with BUY rating and target price of Rs1,060.
Government allows companies to exit road projects
As
per media reports, the government today allowed developers to exit highway
projects two years after they are completed, a move that will unlock
investments worth Rs4,500 crore and provide renewed thrust to the sector. Once
this amount is unlocked and re-invested in new projects, it could support 1500
kms of new highways on PPP mode reviving the response to BOT projects.
Pantaloons Fashion posts improved operational performance
Pantaloons
Fashion Retail posted a topline growth of 12% yoy growth for the quarter; aided
by realignment of the product mix, the cost of goods sold saw a major
improvement (down 420 bps yoy), resulting in sharp improvement in the operating
performance.
TCS China awarded
at Global CEO Innovation
Tata
Consultancy Services ( TCS) has announced that TCS China has been conferred
with two awards at the Global CEO Innovation Summit 2015 in Shenzen.TCS China
President accepted the Innovative CEO of the Year Award and TCS China HR
received the Best Achievement Award for TCS China University Program.
MAN Inds gets
export orders worth Rs510 cr; stk gains
Shares
of Man Industries 16% to Rs70.65, after the company said it received orders
worth approximately Rs510 crore from international market for oil & gas
sector.With these new orders the outstanding executable order book stands at
around Rs1300 crore as on date. The new order intake will result in significant
improvement in performance of the company in the current financial year,
company said.
E-tourist visa
arrivals for January-April 2015 stand at 94,988 tourists
The Tourist
arrival on e-tourist visa during January-April 2015 stood at 94,988 tourists a
growth of 1086% over January-April 2014 – positive read through for
travel companies such as Cox & Kings and Thomas Cook India.
UFO Moviez debut
on bourses at Rs600 per share
Shares
of UFO Moviez India listed at Rs 600, a discount of 4 per cent to issue price
of Rs 625, on the BSE & NSE, respectively. On the BSE stock had touched a
high of Rs623 and a low of Rs600 in trade. It has so far failed to breach the
issue price of Rs625 while on the NSE stock had touched a high of Rs622.80 and
a low of Rs600.
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