TOP CORPORATE NEWS
IDFC surges as RBI grants
bank licence
Shares of IDFC
rose 4% to Rs161 on the NSE after the company announced that IDFC bank has
received bank license from the Reserve Bank of India ( RBI). The Reserve Bank
of India on July 23, 2015 has granted banking licence to IDFC Bank Limited' for
undertaking banking business in India under Section 22(1) of the Banking
Regulation Act, 1949.
Surya Roshni wins Rs85 crore
order from EESL
Surya Roshni Ltd
has been awarded orders for supply of LED Bulbs, Street Lights and other
lighting products worth Rs 85 crores from Energy Efficiency Services Limited (
EESL) and from NTPC.
The said orders
includes supply of 86 lac LED Bulbs under Domestic Efficient Lighting Programme
(DELP) through competitive bidding – positive for the stock.
Tata Power plans to
scale up generation capacity to 18,000 MW
Tata Power plans to scale up generation capacity to 18,000 MW, with
20-25 per cent coming from clean and green sources, by 2022. – Positive
for Tata Power
BHEL signs 3 strategic
MoU’s in Kazakastan
BHEL has signed three strategic
MoU’s in Kazakastan during PM Narendra Modi’s visit.
After Maggi noodles, Nestle
halts pasta supply to change labeling
After Maggi
noodles, Nestle halts pasta supply to change labeling – Sentimentally
negative read thru .Nestle's Maggi Pazzta too has gone off shop shelves as the
Indian arm of the Swiss foods giant has temporarily halted supplying its
instant pasta brand to retailers to change its pack labels and remove the 'no
added MSG' declaration.
Government release draft
Financial code
Government has
come out with draft of Indian financial code whereby government and RBI with
determine the inflation target at every three years. As per the draft the chief
of RBI, may not have veto on the interest rate decision of the central bank's
monetary policy committee. The draft has also proposed that the
all-powerful committee would have four representatives of the government and
only three from the central bank, including the 'RBI Chairperson'. The comments
are invited till August 8th, 2015 and post that final legislation can be
drafted.
NIIT Tech recognised as
'50-Best IT-BPM Company to Work For in 2015'
NIIT
Technologies has been recognised as one of the '50-Best IT-BPM Company to Work
For in 2015' by Great Place to Work® Institute. Additionally, the Company
has also been conferred as the 'Top 5 Large Organisations ' in the IT-BPM
domain which include companies having over 5000 employees.
Coal India plans tariff-based
bidding for future contracts
CIL plans a
tariff-based bidding mechanism to award all contracts in the future. Coal India
is likely to allot fuel supply contracts to state distribution companies that
in turn will call tariff-based competitive bids from companies. This will also
solve the problem of lack of power purchase agreements to power companies, in a
way. Consequently, power companies that undertake to supply electricity at
lowest rates to distributors stand to win coal supply contracts from Coal
India.
Bank of Baroda gains as RBI
lifts FII limit
Bank of Baroda
gained nearly 2% to Rs155.10 on NSE after RBI lifted restrictions on foreign
investors to buy company shares; positive for BOB. The stock opened at Rs154
marking days low at Rs153.50 and hit an intraday high of Rs155.70 on NSE so
far. RBI has removed restrictions placed on foreign investors to buy shares in
Bank of Baroda, saying the limit has gone below threshold. As of quarter ended
June 2015, FIIs held a 13.55% stake in Bank of Baroda.
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