Check out the companies which will be in focus during trade today based on recent and latest news developments.
Reliance Communications: RCOM is planning to further strengthen its strategic partnership with Reliance Jio by extending their cooperation in offering 4G services.
Nestle India: The company told the National Consumer Disputes Redressal Commission (NCDRC) that the Government was being biased by banning its popular Maggi instant noodles while not taking action against other manufacturers of similar products.
M&M: Mitsubishi Agricultural Machinery and Mahindra announces start of their strategic partnership.
PI Industries Limited: The company has commenced the commercial production as its second unit located at Sterling SEZ facility, Jambusar in the state of Gujarat, w.e.f. September 26, 2015. The new unit will enhance the production by nearly 1000 MT per annual at its peak production.
AXIS Bank Ltd: The bank has announced that the Board of Directors of the Bank vide Resolution passed by Circulation on September 30, 2015 has allotted 15000 Unsecured Redeemable Non Convertible Subordinated Debentures (Basel - III Compliant Tier II Debentures) (Series - 23) of the face value of Rs. 10 lakh each for cash at par aggregating to Rs. 1500 crores on a private placement basis.
GSK and Novartis: GlaxoSmithKline Pharmaceuticals Ltd has announced that the Company has completed its transaction with Novartis Healthcare on September 30, 2015 whereby the Company has acquired Novartis’ vaccines business and divested its marketed oncology portfolio to Novartis India.
Bharat Forge Limited: The company has announced that its subsidiary BF Infrastructure Ventures Limited, has divested its 50% stake in its JV (David Brown Bharat Forge Gear Systems India Limited) to its Joint Venture partner, David Brown Systems India (Holdings) Limited, for a sum of Rs. 30.91 million.
Inox Wind: The company has bagged a 50 Mw wind power project in Gujarat from a major minerals and lignite mining company GMDC.
IDBI Bank: IDBI Bank on Wednesday cut its base rate by 0.25 per cent to 9.75 per cent, a day after the Reserve Bank slashed its key repo rate by 50 basis points.
Godrej Properties: The company announced the sale of 4.35 lakh square feet in its commercial project at BKC, Mumbai for about Rs 1,480 crore.
Punjab National Bank: The bank has cut its Base Rate by 40 bps to 9.6% with effect from October 1.
Abbott India: The largest health care product company in India, is deepening its commitment to India through several new initiatives, building on the Rs. 25,600 crore ($4 billion USD) the company has invested in India over the last five years.
Kalpataru Power Transmission: The company has secured new orders worth Rs. 781 crore.
ICICI Bank: The bank has reduced Interest Rates on Bulk Deposits by up to 25 bps.
Axis Bank: The country's third largest private sector lender, has reduced its base rate by 35 basis points to 9.50%.
Larsen & Toubro: The company said its construction arm has won contracts worth Rs. 13.76 billion in power transmission and distribution business this month.
Tata Communications: The company and MasterCard have partnered to financially empower 25,000 women in developing economies like India, Nigeria, Indonesia and Guatemala and aim to take the number to 100 million by 2020.
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