TOP CORPORATE NEWS
TVS Motors launches special
edition TVS XL Super
In celebration
of crossing the milestone 1 crore mark in sales, TVS Motors Company has
introduced a special edition of its legendary TVS XL Super. The new variant
will come in two never before colours of Silver Grey and Titanium Grey, which
have been specially created for the occasion. In addition TVS XL Super will
have special graphics, a dual texture seat with stich lines, chrome plated grab
ribs and silencer guard and will carry a specially designed 1 crore celebration
sticker.
BHEL successfully modernises
Unit-7 at Harduaganj Thermal Power Station
Bharat Heavy
Electricals Ltd (BHEL) has announced the successful renovation and
modernisation of 110 MW Unit-7 at Harduaganj Thermal Power Station ( TPS) Plant
of Uttar Pradesh Rajya Vidyut Utpadan Nigam. After successfully running for 30
years, this unit, originally supplied and commissioned by BHEL, was undertaken
for renovation and modernisation. Following the R&M, not only was the
working life of the machine extended by another 15-20 years, the capacity was
also uprated to 120 MW from its original capacity of 110 MW.
RIL to gain from likely price
cut in some Saudi crudes
Saudi Arabia is reported to be considering a cut in prices of the medium and
heavy grades of crude used by complex refiners, while leaving price of its most
popular export, light crude, unchanged. According to industry sources the Arab
Heavy crude price could fall as much as 70 cents a barrel in August, while Arab
Light could post a small drop of up to 20 cents. Reliance imports more than 15%
of its oil from Saudi Arabia hence it will benefit.
PGCIL in talk with ADB and WB
for Rs12000 crore of loan
PGCIL in talk with ADB and WB for Rs
12000 crore of loan to support strong capex plan; positive read thru for
T&D EPC players like L&T, Kalpataru power, KEC International. The World
Bank and the Asian Development Bank ( ADB) are in talks with the Indian
government for providing a loan of around Rs12000 crore ($2 billion) to Power
Grid Corporation of India Ltd (PGCIL).
Infosys Invests in Ireland on
the Back of Strategic Partnership with AIB
Infosys
announced that it has been selected as a strategic partner by Allied Irish
Bank, p.l.c. ( AIB), a financial services group operating predominantly in the
Republic of Ireland and the UK. Leveraging the momentum of this partnership,
Infosys will also make significant investments in the Republic of Ireland.
GSFC to invest Rs10,000 crore
for 4 new projects at Dahej
The Gujarat
State Fertilisers & Chemicals Ltd (GSFC) will invest Rs10,000 crore for
setting up four new projects at Dahej. These new projects are urea, ammonia,
caprolactam (raw material for manufacturing of nylon) and MMA. The work on the
new nylon plant with a capacity of 15,000 tonne per annum is over and will be
commissioned later this month. It has come up at a cost of Rs125 crore.
HPCL plans to raise $200
million for expansion
Hindustan
Petroleum Corporation is planning to raise $200 million (Rs1,260 crore) by this
August, which would be used for its expansion of ongoing four pipeline project
and new as well.
Govt decides new kerosene
subsidy sharing formula
The government has decided upon a new
kerosene subsidy sharing formula for FY2016. According to the formula, the
finance ministry will now bear Rs12 per litre of kerosene as a subsidy for
FY2016. Currently, loss per ?litre of kerosene is around Rs18.50. During
FY2015, the loss per ?litre of kerosene was Rs28 and the total kerosene subsidy
was Rs24,800 crore (a third of total oil subsidy burden).
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