TOP CORPORATE NEWS
Ahluwalia Contracts bags
Rs318 crore orders
Ahluwalia
Contracts has secured new orders aggregating Rs317.65 crores for construction
of Institutional/Residential building, including Electrical, Plumbing and
firefighting services.
Eros to fetch Rs100 crore
from ‘Bajrangi Bhaijaan’ release
Eros
International: Eros’s much anticipated film of the year ‘ Bajrangi
Bhaijaan’ hit the theatres and the film had an excellent first and second
day at the Box Office. As per the trade sources, box office collection of the
movie will cross Rs100 crore in the first weekend. Positive read-thru for Eros
International.
Maruti Suzuki plans to
hire 2,500 relationship managers for Nexa outlets
Maruti Suzuki planning to hire 2,500 relationship managers for its Nexa
outlets; company plans for a premium buying experience with Nexa Domestic passenger
vehicle market leader ie Maruti Suzuki plans to hire upto 2,5000 relationship
managers for its upcoming Nexa outlets.
Government planning to start
work on 10 express highways
Government
planning to start work on 10 express highways – Positive for IRB Infrastructure,
IL&FS Transportation, Ashoka Buildcon, Sadbhav Engineering, KNR
Constructions among others
The government
is planning to start work on 10 world class express highways on the pattern of
Mumbai Pune express highways. These include Nagpur-Mumbai, Bangalore-Chennai,
Baroda-Mumbai, Katra-Amritsar and Ludhiana-Delhi.
Tata Motors plans capex of
upto Rs4,000 crore
Tata Motors will
be making significant investments to develop new models both in the passenger
vehicle and commercial vehicle segments. The company plans to invest between
Rs3,000 to Rs4,000 crore in FY2016 in capital expenditure bulk of which will be
into product development. The company also plans to raise Rs4,000 crore via
NCDs during the year. Additionally the management has guided for a capital
spend of GBP3.5bn in Jaguar Land Rover operations
PTC India to eye for more
medium term contracts
PTC India is
eyeing increasing the number of medium-term power purchase agreements with
power generators and utilities, as per media reports. This is in line with the
company’s efforts to enhance volume with a right mix of long term and
medium term volume as transmission constraints have hampered PTC India’s
short-term sales which have reflected in the company’s declining sales
volumes.
Crompton Greaves in talks for
sale of overseas power business
Crompton Greaves
in talks with First Reserve for sale of overseas power business to reduce group
debt –Positive for Crompton Greaves .CG has been on a selling spree and
had targetted hiving off the overseas power business and sell the unit by
Q2FY16, this plan is on track with First Reserve showing interest in the
assets.
Banks seek RBI nod to spread
Q1 bond losses over four quarters
Banks have
requested the RBI to allow them to amortise mark-to -market losses (writing
down assets at current values) over the next four quarters as they are worried
over mounting losses in their bond portfolio in the Q1FY16. The Yields on G-Sec
which were on a declining path since early October last year, reversed their
trajectory and have gone up by ~15 bps after RBI announced a hawkish stance in
its bimonthly policy review in June.
RPP Infra bags order from
Chennai Corp
RPP Infra
Projects has announced that the company has bagged prestigious order worth
Rs456 million from Chennai Corporation.
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