TOP CORPORATE NEWS -06 JULY 2015

 
·Gujarat government extends ban on Nestle's Maggi
The Gujarat government on Saturday extended the ban on Nestle's Maggi noodles for another month as the company failed to produce safety standard reports – Negative read thru
·Centre allows NTPC and PTC India to charge dollar-linked tariffs
The Centre has allowed NTPC and PTC India to charge dollar-linked tariffs for their new solar projects. Currently, NTPC and PTC to go for dollar-linked tariffs for 1,000 MW each on a pilot basis and they can go up to 10,000 MW each with the same tariff mechanism if it is successful.
·Adani Group proposes to set up solar park in Tamil Nadu
Adani Group has proposed to set up a solar park in Tamil Nadu; to be among the world's largest with an investment of Rs 4,536 crore; The power generated from the plant would be purchased at a price of Rs7.01 per unit by the government.
·Sangam forays into women's branded apparel segment
Sangam (India) announced its foray into women's branded apparel category with the launch of a new aspirational brand ' Channel Nine'. The Company has introduced seamless technology in women's intimate, active and casual wear category. Sangam has installed 36 circular knitting machines imported from Italy and has installed capacity to manufacture 10,000 pieces of seamless garments a day.
·Hinduja recognizes as Leader in Payer and Provider Categories
Hinduja Global Solutions (HGS) announced its ranking as a ' Leader' in the Nelson Hall Vendor Evaluation and Assessment Tool (NEAT) for Customer Management Services (CMS) in Healthcare under both Payer and Provider categories. Nelson Hall recognized HGS as a ' Leader' in the following market segments: Payer Capability, Payer Back Office Capability, Payer Cost Reduction Capability, and Provider Capability.
·Subdued demand hits NMDC; cuts iron ore rates by 30%
Subdued demand hits NMDC; cuts iron ore rates by 30% since January to Rs2,950 per tonne for the current month on the back of subdued demand in the domestic market. For July 2015, NMDC has put the price of iron ore fines at Rs1,660 per tonne – Negative for the stock.                                                                                                                                                 ·TVS Motor launches special edition of moped XL Super
TVS Motor has launched a special edition of its moped XL Super to commemorate sales of one crore units of the moped. Sentimentally positive.
·Competition Commission dismisses plea against 18 auto makers
The Competition Commission of India (CCI) has dismissed the complaint against 18 auto makers on allegations of unfair business practice and conditions put forward in their dealership pacts. The 18 companies included M&M, Tata Motors, Ashok Leyland, Bajaj Auto, Hero MotoCorp and TVS Motor. No adverse impact on business or financials was envisaged from the CCI appeal, however the relief is sentimentally positive.

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