Tuesday, 7 April 2015

Top corporate news of the day - April 07, 2015

Bajaj Auto reported 22% slide in overall two-wheeler volumes in March at 209,937 units as against 270,578 units sold in the same month last year.

Cairn India has filed a writ petition in the Delhi High Court against Rs204.9bn tax demand from the government.
 
A consortium of companies led by GMR Infrastructure has bagged Rs50.80bn contract from Dedicated Freight Corridor Corporation of India to design and construct a 417-km stretch of the project's eastern arm.
 
Bajaj Auto reported 22% slide in overall two-wheeler volumes in March at 209,937 units as against 270,578 units sold in the same month last year.
 
KEC International Ltd has won new orders worth Rs15.65bn under its transmission and distribution and cables businesses.
 
MOIL Ltd slashed prices of various grades of manganese ore by up to 25% for the April-June quarter. 
 
Larsen & Toubro said its construction arm has bagged orders worth Rs 54.92bn across various segments in March. 
 
Maruti Suzuki India it sold 62,996 factory-fitted CNG vehicles in the last financial year (2014-15), a growth of 23% over the previous year. 
 
Oil Ministry has allowed national oil companies ONGC and Oil India Ltd to sell any new natural gas supplies from their small and isolated fields through an open tender. 
 
NTPC is looking at bringing its coal import bill to 'zero' in the next five years and will rely on the fossil fuel made available by Coal India and the company's own mines.
 
Ramky Infratructure Limited through a joint venture with TK Engineering Consortium has announced that it has bagged a road project worth Rs8.29bn in Assam. 
 
Hero MotoCorp is working to extend its fuel efficient i3S technology, which helped improve mileage of Splendor iSmart model, to other sub-brands under the Splendor range. 
 
ICICI Bank has become the first in the country and among the few in the world to deploy voice-recognition technology for biometric authentication. The new facility will enable customers to call up and ask for funds to be transferred to registered beneficiaries or bills to be paid without having to enter 16-digit numbers or keying in their PIN.
 
Bosch has declared a lockout at its Jaipur plant due to the ongoing worker unrest in the facility.

Canara Bank is looking at raising Rs15.20bn from Life Insurance Corporation of India (LIC) by making a preferential allotment of 40mn equity shares. 
 
SAILTata Steel and other players in the sector today inked a pact with the government for setting up a research and development body SRTMI with an initial corpus of Rs2bn.

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