TOP CORPORATE NEWS
Bharti Airtel commercially
launches 4G in 296 towns
Bharti Airtel has
commercially launched 4G services in 296 towns across India it has also formed
alliances with Flipkart and Samsung to support its 4G services – Positve.
BHEL commissions 500 MW Thermal
Unit at Vindhyachal STPS
Bharat Heavy
Electricals Ltd (BHEL) has added one more coal-based power plant to the grid by
successfully commissioning the 500 MW Unit-l3 of Vindhyachal Super
Thermal Power
Station ( STPS), Stage-V of NTPC. The project is located irt Vindhyanagar
in Singrauli district of Madhya Pradesh.
Uflex to invest Rs550 crore in
new plant at Sanand
Uflex to invest Rs550 crore in new plant at Sanand – positive read thru.The
company is in the process of setting up a plant for packaging material for
liquid products with a capital expenditure of Rs550 crore in the first phase.
The project is proposed to be commissioned and operational by April 2017. The
factory will produce approximately seven billion packs per year for liquid
products such as energy drinks, milk and juices. About 90% of the output from
this factory will cater to the domestic market.
Maruti Suzuki aims to sell up
to 5,000 units of S-Cross monthly
The Maruti Suzuki
management has stated that they look to sell 4,000 – 5,000 units of the S-Cross
on a monthly basis. View: The sales target as mentioned by the company looks
ambitious. While the S-Cross is expected to do well n the initial months,
we expect the vehicle to settle at a lower run-rate after the demand settles
down.
Coal India will invest Rs13,900
crore for production
Coal India will invest
Rs 13,900 crore to take its production to 908 million tonnes (MT) by 2020 –
Positive for Coal India.
Aviva plans to increase stake
in Indian business to 49%
British insurer
Aviva plans to raise its stake in its Indian joint venture with Dabur Invest Corp
to 49 per cent, following Indian rule changes on foreign direct investment (
FDI). Aviva will raise its stake to the maximum level allowed for foreign
companies up to 49%. Aviva is the fourth foreign insurer to have decided to
raise stake in its local venture since amendments to the Insurance Act.
Earlier, French insurer Axa, Japan's Tokio Marine and London-based Bupa had
announced similar plans.
M&M positive surprise on
margins; PAT beats est
Mahindra &
Mahindra (M&M) Q1FY16 results: Positive surprise on margins due to sharp
jump in profitability of tractor business; PAT beat estimates .M&M volumes
continued to remain with the auto and tractor segment volumes declining by 2.7%
and 16.4% respectively in Q1FY2016. Revenues for the quarter were lower by 3.9%
YoY to Rs9,437 crore which was in-line with estimates.
NTPC commissions 500MW Unit-1
of Vindhyachal STPS
NTPC announced
that Unit - 1 of 500 MW of Vindhyachal Super Thermal Power Station, Stage has
been commissioned on 06 August 2015. With this, the total installed capacity of
Vindhyachal Super Thermal Power Station has become 4760 MW and the total
installed capacity of NTPC group has become 45548 MW.
BHEL Q1 shocks; profit tanks
83%, EBITDA loss Rs 209 cr
Bharat Heavy
Electricals (BHEL) disappointed street on Friday with first quarter profit
falling 82.5 percent to Rs 33.9 crore compared to Rs 193.5 crore in the
year-ago period, impacted by lower revenue and loss at operating level. The
stock price lost more than 10 percent intraday.
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