TOP CORPORATE NEWS
Punj Lloyd bags project
from NHAI
Punj Lloyd has
announced that the Company has secured a 41 km long, Rs541.84 crore road
project from National Highways Authority of India ( NHAI) in Bihar. The scope
of the work for the project includes Four laning from 360.915 km to 402.000 km
of the Gorakhpur – Gopal gang section of NH-28 in Bihar.
Adani Enterprises fixes
record date for scheme of arrangement, demerger
Adani
Enterprises has announced that the company has fixed June 04, 2015, as the
record date for the purpose of scheme of arrangement & demerger. In January
2015, the company had announced a plan to demerge the group’s port and
power operations into Adani Ports & Special Economic Zone ( SEZ) and Adani
Power. The group’s transmission company will be listed on the stock
exchanges and mining company merged with Adani Enterprises.
Corporation Bank cuts base
lending rate by 25 bps
Corporation Bank has announced that the Bank has revised the Base Rate for
lending from 10.25% p.a. to 10.00% p.a. with effect from June 01, 2015.
Govt confident of achieving
direct tax collection target
The Indian
Government has said that the Direct Tax collection target of Rs7.98 lakh crore
for the current financial year is likely to be met due to the improvement in
economic growth.
Further reports
added that, Revenue Secretary Shaktikanta Das says that the target of Rs7.98
lakh crore that has been set for 2015-16 is very much achievable. It is a very
realistic target, aligned with the kind of GDP growth which has been forecast
in the economic survey and it is also based on our internal analysis and past
and historical trends; Revenue Secretary Shaktikanta Das as saying this.
CESC eyes acquisition
of generation assets
CESC is eyeing
acquisition of power assets and ensuring fuel security for new plants. Further,
CESC's revival of its long planned 1320 mw project at Balagarh in West Bengal
depends on the ability of the company to win coal linkages in the upcoming
e-auction. Apart from thermal power, renewable would be another focus area- it
is adding 17 mw solar power capacity in Tamil Nadu in next couple of months
taking total renewable capacity to 75 mw.
Grasim sells consumer
products business to Future Group
Grasim
Industries, will sell its consumer products business to Future Consumer
Enterprise Ltd on a slump sale basis. Grasim’s consumer products division
makes face care wipes, baby wipes and other products in baby/house care
segments under brands including Kara, Puretta, Handys and Prim.
Metals and Mining: States to
start auction of 200 mines next month
States to start
auction of 200 mines next month, positive for Sesa Goa among others, could be
sentimentally negative for NMDC as it will reduce it competitive advantage for
supply of Iron ore
Beginning next
month, eight mineral-rich states will start the e-auction of 200 mines with
iron ore, limestone and bauxite deposits. The
states have been empowered by the centre to auction mines with these three
mineral resources. These 200 mines are mainly concentrated in Rajasthan,
Jharkhand, Madhya Pradesh, Chhattisgarh, Karnataka, Gujarat and Odisha.
GMR Infra subsidiary
increases stake in DIAL
GMR Airports
Limited, a subsidiary of GMR Infrastructure has acquired 10% equity stake in
Delhi International Airport Pvt. Limited ( DIAL) from Malaysia Airports Private
Limited for a revised consideration of $80 million. With the acquisition of
stake GMR Airports equity stake in DIAL has increased to 64%.
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