TOP CORPORATE NEWS
Siemens secures turnkey order
worth Rs123 cr
Siemens
announced that it has won a turnkey order worth approximately Rs123 crore from
Power Grid Company of Bangladesh (PGCB), the country's leading transmission
utility. The scope of the work includes design, procurement, supply,
installation, testing and commissioning of 230/132 kV GIS Substation at
Shyampur and 132/33 kV GIS substation at Dhamrai- both sites located at Dhaka.
Bharti Infratel in talks to
buy Idea & Vodafone towers for $1.6 bn
Bharti Infratel
is in advanced talks with British telecom major Vodafone and the Aditya Birla
Group's Idea Cellular to buy out their telecom towers at a valuation of up to
$1.6 billion (Rs10,080 crore).
Bharti Airtel,
Vodafone and Idea, India's top three cellular service providers, jointly own
stakes in unlisted telecom tower company Indus Towers, apart from having their
own tower arms. Banking sources said Vodafone might sell 11,000-12,000 towers
and Idea Cellular 9,000 to Bharti Infratel.
Ramco identified as a Leader
on multiple parameters
Ramco Systems announced that it has been named as a ' Leader' in Nelson
Hall's NEAT Vendor Evaluation & Assessment Tool for Payroll Outsourcing
2015.The report identified Ramco as a Leader on multiple parameters including
overall capability, multi country, HR cloud integration focus and analytics and
reporting focus.
RIL starts selling diesel to
railways
As per media
flash, Reliance Industries has started selling diesel to railways, also co's
oil product exports flowing more to Asian markets (positive read-thru)
Adani Power bags 3
transmission projects
Adani Power bags
3 transmission projects Sipat - Rs863 crore, Chhattisgarh (A) - Rs823 crore and
Chhattisgarh (B) - Rs823 crore while Sterlite Grid bagged a transmission
project Maheshwaram worth Rs396 crore
IOC shuts crude unit of
300,000 barrels-per-day
Indian Oil Corp
shut the crude unit of its 300,000 barrels-per-day Paradip plant in May and
will restart the same in August.
Essar Oil will shut 400,000
barrels-per-day
Essar Oil Ltd
will shut its 400,000 barrels-per-day (bpd) Vadinar refinery from mid September
for a month, while Chennai Petroleum Corp Ltd will put a 1.85 million
tonnes-per-year hydrocracker plant on maintenance from July 19 for a month.
Delhi Govt increases VAT on
Petrol and Diesel
Delhi government
increases VAT on petrol from 20% to 25% and on diesel from 12.5% to 16.6% thus
resulting increase in the price of petrol by Rs2.78 per liter and in the price
of diesel Rs1.83 per liter.
Thus Delhi will
not benefit from price cut by OMC’s but will actually see a rise in
petrol prices by 78 paise while decrease in diesel would be limited to 50
paise.
Petrol and Diesel prices cut
by Rs2 per litre
Petrol and diesel prices cut by Rs 2 per
litre, excluding local levies, second reduction of rates this month by oil
companies.
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