TOP CORPORATE NEWS
SSWL bags
order from overseas passenger Car
Steel Strips
Wheels Ltd (SSWL) it has bagged an order from Canadian Passenger Car
aftermarket. This would mark the entry of SSWL wheels in North America. Wheels
would be shipped by end of Jun 2015.
This order
volumes are expected to go up to 40K wheels next year with total value of
around USD 1 million per annum. The program will run for 5 years and resulting
in volumes of 175K and revenue addition of 4.5 Mn Dollar. Apart from this the
Company are also in advance stages of bagging an order from Polish aftermarket
party for Passenger Car wheels.
Government
approves stake worth Rs50,000 cr in 20 PSUs
As per media
reports, the Cabinet Committee on Economic Affairs (CCEA) has granted approval
for stake sale worth about Rs50,000 crore (at current prices) in about 20
companies.
This
disinvestment will happen keeping in mind market conditions as govt has
Rs41,000-crore target for stake sale in PSUs in FY16.
The PSUs in the
pipeline include ONGC, Dredging Corporation, Power Finance Corp, NMDC, NTPC,
Nalco, BHEL, MMTC, National Fertilizers, Rashtriya Chemicals and Fertilizers
Syndicate Bank
approves Rs2000 crore equity capital raising
Syndicate
Bank’s Board has approved to raise equity capital of Rs2,000 crore
including to be decided as per the guidelines by way of QIP/Rights Issue /FPO
/ at an appropriate time. Since, this is just an enabling resolution it is
neutral for the stock.
Government
releases draft norms for gold monetization scheme
Government
has released a draft norms for gold monetization scheme under which a person
or entity can earn interest by depositing the gold metal with banks. To make
the scheme attractive to households, the interest earned on it will likely be
exempt from income tax, wealth tax, and capital gains tax. As per the draft
guidelines, minimum gold deposit is proposed at 30gm, maturity will be one year
(can be rolled over) and rates will be decided by banks.
IDBI Bank to
unveil e-huts to connect with rural public
Government-owned
IDBI Bank has planned to launch e-huts with the aim to connect with the rural
public, according to a bank official. According to the report, e-hut concept
will be completely unmanned units which will help the customer understand
technology. The e-huts will be located at a relatively populated place.
Lupin gets USFDA
approval for Azithromycin tablets
Lupin has
got USFDA approval to market Azithromycin Tablets. Azithromycin is an
antibiotic used to treat many different types of infections caused by bacteria.
Although, the
market size of the drug is not immediately known, the development is positive
for Lupin.
Wipro announces
partnership with Activestate
Wipro announced
a partnership to deliver cloud technologies and services to enterprises across
the globe. Activestate is the creator of Stackato Private Platform-as-a-Service
(PaaS), the world's leading independent distribution of the Cloud Foundry open
source project. This partnership brings together the cloud implementation
expertise of Wipro with the cutting edge technology of Stackato, enabling agile
enterprises to innovate faster than ever before.
NHPC gets
environment nod for Dibang Multipurpose Project
NHPC has
announced that Ministry of Environment, Forest and Climate change (MOEF&CC)
vide its Order dated May 19, 2015 has accorded environmental clearance for
Dibang Multipurpose project (2880 MW) subject to certain conditions stated in
the aforesaid order
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