TOP CORPORATE NEWS
Punj Lloyd plans to invest
Rs2,000 crore in Gwalior unit
Punj Lloyd –
As per media reports, the company plans to invest Rs2,000 crore to expand Gwalior
manufacturing unit. The development is positive for Punj Lloyd.
TVS Motor August 2015 dispatch
volumes up 0.9% YoY
TVS Motor August
2015 dispatch volumes up a modest 0.9% YoY to 227,653 units; in-line with
estimates. TVS Motor reported a 0.9% YoY growth in overall volumes for August
2015 to 227,653 units.
The motorcycle
segment volumes were up by 4.6% YoY to 87,044 units. The scooter volumes rose
by 10.0% YoY to 72,865 units. Moped volumes were down 14.2% YoY to 56,872
units.
Nucleus Software partners with
Magnum FinCorp
Nucleus Software
Exports announced that Magnum FinCorp will implement Nucleus Software's
recently launched flagship lending product, FinnOne Neo, for its loan origination
and loan management operations.
Govt accepts AP Shah panel
report on MAT
The government has
accepted recommendation of a high level panel that minimum alternate tax (MAT)
should not be imposed on overseas portfolio investors retrospectively (capital
gain made by FIIs prior to 1 April 2015, on 25 August). The discrepancy had
arisen when Authority for Advance Rulings (AAR) held that Section 115JB was
applicable to foreign companies, even if they have no Permanent Establishment
or place of business in India.
DLF plans to raise Rs 7,500
crore
DLF’s shareholders
have approved the resolution to create charge, lien or pledge on its over 50%
shares in three subsidiaries, holding rental commercial assets for raising up
to Rs7,500 crore.
Cigarette Players approach government
to curb sales of illicit cigarettes
Cigarette Players
and tobacco industrial body approach government to curb sales of illicit
cigarettes (constitutes 20% of total cigarette sales in India) – if government
illicit cigarettes sales it will positive for ITC and other players.Top
cigarette players and the industry body have approached the central government
about the booming illegal and smuggled cigarettes sold in India from China and
Southeast Asian countries. Illicit/smuggled cigarettes currently form 20% of
overall cigarette sales in India.
Crompton Greaves wins order
from Korea
Crompton Greaves
won orders from Korea electric power corp for 365 kV and 154 kV capacitive voltage
transformer to upgrade Korea’s transmission network with latest polymeric
technology. The value of the order is not disclosed in the announcement.
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