Friday, 17 April 2015

Top corporate news of the day - April 17, 2015

TCS announces one-time bonus worth Rs26bn for employees. The company will pay staff one week salary for every year served. 

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TCS announces one-time bonus worth Rs26bn for employees. The company will pay staff one week salary for every year served.
 
US-based sport bike maker Erik Buell Racing, Inc. in which Hero MotoCorp holds a 49% stake, has announced a closure of operations and filed for bankruptcy protection from creditors.
 
Tata Steel's FY15 crude steel output up 2% at 9.33mn tonne. 
 
Hindustan Construction Company said its infrastructure development arm will sell its stake in a highway project to Sadbhav Group for Rs.2040mn as part of a strategy to exit operational assets.
 
BHEL said it has fully commissioned 2,400 Mw OP Jindal thermal power project in Chhattisgarh. 
 
MRF Ltd outlined its plans to expand its manufacturing facility located at Sadasivpet in Medak district of Telangana. 
 
KEC International said it has entered into a pact with ATC Telecom Tower for sale of telecom assets in Chhattisgarh, Meghalaya and Mizoram comprising 381 telecom sites. 
 
National Mineral Development Corporation is aiming to raise its output by 20% to 35mn tonnes by the end of this fiscal year. 
 
Future Group, Bharti Retail in talks for partnership. A multi-structured deal based on share swap is being worked out between the two, post which Kishore Biyani-led Future Group will become majority partner. 
 
SpiceJet has sought a deferment of three years on the payment of dues of Rs.2110mn to AAI. 
 
Jindal Saw shareholders have approved a proposal for entering into a contract worth up to Rs.100bn with group firm JSW Steel, from which it purchases raw material. 
 
Blue Star said it is looking to commission a new manufacturing facility in South India and will be making an investment of about Rs.1500mn this year. 

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