TOP CORPORATE NEWS
Banks seek 50 bps cut
in Cash Reserve Ratio
Ahead of the
monetary policy review, the Indian Banks’ Association (IBA) has sought a
50-basis point cut in the cash reserve ratio ( CRR). The Banks have been
suggesting RBI that they continue to hold surplus funds (SLR) and borrowings
from RBI is nominal.
Ashok Leyland receives rating
upgrade from ICRA
Ashok Leyland
has received a rating upgrade from ICRA. The rating agency has upgraded Ashok
Leyland’s long term debt from A+ to AA-. The short term loans and
commercial paper continue to be rated A+. Positive for the company.
SSWL bags Hyundai India's
Passenger Car Program
Steel Strips Wheels ( SSWL) has announced that company has bagged Hyundai
India's Passenger Car Program worth Rs110 crores.
Crompton Greaves wins
contract in Europe
Crompton Greaves
won an important contract to supply ZIV data concentrator units (Distribution
Tranformer Controller) to EDP, one of the major European operators in Energy
sector. ZIV’s DCU is gaining strong acceptance in market which retrieves
and store data from the meters and periodically send to management system,
apart from several other management functions.
ITNL emerges lowest
bidder for Rs315 crore road project
IL&FS
Transportation Networks along with its wholly owned subsidiary, Elsamex SA was
declared as the lowest bidder in the bids submitted to Madhya Pradesh Road
Development Corporation Limited for upgradation of 2 road projects namely, 1.
Bandri-Jaruwakheda, Nirtala-Mandi-Bamora and Damoh-Hindoriya-Patera Sections
comprising of 76.23 kms and 2. Pachawali
- Rannod, Rannod- Pichhore, Bhasula-Chainpur, Vijaypur- Dhanrawad and Ashok
Nagar-Thubon Sections comprising of 110.62 kms aggregating to 186.85 kms in the
State of Madhya Pradesh on Output and Performance based Road Contract.
Kolte Patil board approves
merger scheme
Kolte Patil
Developers has announced that the Board of Directors of the Company at its
meeting held on May 26, 2015, has approved a scheme of merger of Olive Realty
and Yashowardhan Promoters and Developers Pune, Wholly Owned Subsidiary
Companies of the Company. This merger is being planned in order to synergize
the operational and business efficiencies of this Company.
TVS Srichakra will develop
radial two wheeler tyres
TVS Srichakra,
the tyre manufacturing arm of TVS Group, will be developing radial two wheeler
tyres for the BMW- TVS Motor joint venture products. Positive for the company.
Kaveri seeds Management
concall key take away
As per
management expectation of cotton acreage is likely to remain at current level.
During current year income of farmer remain on the lower side hence it has
impacted the spending by farmers.
Timely monsoon
is likely to help increase in acreage of cotton in Andhra Pradesh, Maharashtra
and Karnataka however cotton acreage is likely to see marginal decline in
northern parts of the country.
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