August 16, 2017

TOP CORPORATE NEWS

BPCL falls on buzz of Govt stake sale

Bharat Petroleum Corporation Ltd ( BPCL) slipped over 3%, touching to Rs808.2, on reports that  the Government is planning to sell 3% stake in the company. According to reports, the Finance Ministry has send proposals to BPCL with regard to government’s stake-sale.

Delhi urges to penalize power distribution companies

The AAP government in Delhi has urged the regulatory body to penalize power distribution companies for indeterminate power cuts and roll back the recently announced tariff increase – Sentimentally negative for RInfra and Tata power.

Capital infusion in PSU Banks would be need-based

The government has decided to infuse capital in public sector banks (PSBs) based on the requirement of individual lenders, which is a departure from the precedent set last year where it had infused capital based on performance under certain parameters.The government has asked PSBs to make detailed presentations on their capital requirement for the current financial year. If the government is convinced that a bank needs funds, then it will infuse capital.

Suven Life secures 3 Product Patents in Israel, Macau and USA

Suven Life Sciences announced the grant of one (1) product patent from Israel (198821), one product patent from Macau (J/001515) and one (1) product patent from USA (9018231) corresponding to their New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases.

Adani Enterprise signs pact for 10,000 MW solar park

Adani Group has signed a joint venture agreement with the government of Rajasthan to set up a 10,000 MW. Adani Renewable Energy Park, a subsidiary of Adani Enterprise has signed a pact with the Rajasthan government for a 50:50 joint venture, namely Adani Renewable Energy Park Rajasthan which will be largest such integrated facility in India.

T-Mobile Poland selects Wipro to provide services

T-Mobile Poland selects Wipro to provide integrated applications & infrastructure services .Wipro has announced that it has won a contract from T- mobile Poland to provide integrated applications and infrastructure services. The company has committed to T-mobile a significant improvement of its legacy application consolidation & rationalization, transforming its operating model from application focus to domain focus leading to better customer service.

Nestle in process of withdrawing Maggi Noodles; stk down

Shares of Nestle dipped over 2%, touching to Rs5791, after the company said it is in the process of withdrawing MAGGI Noodles stock from the market and destroying it. Nestle India is in the process of destroying Maggi instant noodles worth Rs320 crore after it was banned by central food safety regulator FSSAI due to presence of lead and taste enhancer monosodium glutamate (MSG) beyond permissible limits.

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