TOP CORPORATE NEWS
Bharti
Airtel up after commencing 4G trials in Chennai
Shares
of Bharti Airtel rose over 2%, touching to Rs394.5, after it decided to
commence 4G services trials for its existing customers located in Chennai,
according to media reports.
The
customers belonging to the city can avail a complimentary upgrade to Airtel 4G
at 3G prices to experience Airtel 4G speed.
Reliance Jio to
source devices from China
Reliance
Jio aims to roll out India’s first national 4G LTE service in the coming
months. Reliance Jio is in negotiations with smart phone vendors in China
— Gionee, Huawei and Xiaomi; to source phones that could be sold in 4G
data packages at $30.
KNR Constructions
bags order worth Rs 669 cr
KNR
Constructions Limited has bagged an order worth Rs669 crores towards “4
laning of Kazhakkottam to Mukkola Section from Km. 0.0 to Km 26.5 of NH-47 in
the State of Kerala under NHDP Phase-III on EPC mode to be completed within a
period of 24 months from the appointed
date.
Power Grid to
invest over Rs1000 cr; + for Power Grid
Power
Grid Corporation of India will invest over Rs1000 cr. in the next few years for
execution of two projects including creating transmission network in Anantpur
district of Andhra Pradesh.
NTPC to buy
15,000 MW of solar power; + for NTPC
NTPC
will call for bids from solar project developers for buying 15,000 megawatts
(MW) on behalf of the ministry of new and renewable energy (MNRE). This is in
addition to NTPC’s plans to set up 10,000 MW of solar power capacity on
its own.
Strides Arcolab
gets ANDA approval
Strides
Arcolab announced that it has received approval from the United States Food
& Drug Administration (USFDA) for Lamivudine and Zidovudine Tablets USP,
150 mg/300 mg.
The
product will be manufactured at the Company's Oral Dosage facility in Bangalore
and marketed by Strides in the US market. The product will be launched in the
markets immediately.
According
to IMS data, the US market for Lamivudine and Zidovudine Tablets is
approximately USD 120 million.
Tata Motors to
expand dealership network to small towns; + for company
According
to reports, Tata Motors is planning a significant expansion of its distribution
network so as to tap demand in small towns. The company plans to expand
presence from 359 districts presently to 651 districts over the next few years.
The company also plans to continue sales of older models such as Indica and
Indigo in addition to the new generation vehicles such as Zest and Bolt.
NPA situation may
not have peaked: RBI governor Dr Rajan
RBI
Governor Dr Rajan has said that India's banking system may not yet have seen
the peak in bad loans. He also added that the RBI was working with lenders to
recognise and resolve these non-performing assets. The general industry trends
and RBIs statement suggests that concerns may persist on PSU banks asset
quality and hence we remain very selective in PSU Banks space (SBI, BOB, Union
Bank etc)
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