·SBI Chief warns government about potential NPAs
SBI Chairman, has red-flagged the power sector as a fast-ticking time bomb that could escalate the banking system's NPAs to an alarming level over the next couple of months.
The power sector accounts for amount 9-10% of the total loans in the system has been facing challenges from weak financials of state discoms and project delays.
·Delhi HC stays order restraining Lupin from using LUCYNTA
Lupin: Delhi High Court stays an earlier order restraining Lupin from using the trademark LUCYNTA for its medicines deceptively similar to the trademark NUCYNTA used by Johnson & Johnson.
·Government gives fertilizer subsidies a cold shoulder
The government has shown no urgency in implementing long-pending reforms, such as rationalization of urea prices, or timely subsidy payments.Some of these measures are indeed politically sensitive as they can raise costs of farm inputs. Not implementing them, however, prolongs the industry’s woes.
·IGL acquires 50% stake in Maharashtra Natural Gas
Indra Prastha Gas Ltd ( IGL) has acquired 25 lakh more shares at price of Rs38 of Maharashtra Natural Gas Ltd ( MNGL) to become a 50 per cent shareholder in the company. Earlier this year, IGL acquired 4.75 crore shares in MNGL in the first tranche at a price of Rs38.
·Jet Airways to boost Domestic Connectivity with Additional flights
Jet Airways announced the expansion of its domestic network with additional frequencies on India's high demand routes and by linking cities with expanding potential. The new services being launched in July and September 2015 include the following routes - Mumbai and Chennai (ninth daily service), Kolkata and Bengaluru (second service), Mangalore and Mumbai (fourth daily service), Bhopal and Indore with Lucknow (via Delhi) (new service), Bhopal with Hyderabad (via Mumbai) (new daily service) and Hyderabad and Rajahmundry (third daily service)
·Radha Madhav opens of 10 new distribution outlets in Surat
Radha Madhav Corporation announced the opening of 10 new exclusive distribution Outlets in ' Surat' District on the auspicious occasion of Eid i.e. July 19, 2015. With this the total tally of exclusive Distribution outlets becomes 38. These outlets are designed for Express Deliveries of 'rmcluniverse.com' products. ·Ashiana Housing enters into development agreement
Realty firm Ashiana Housing said that it has tied up with Bengaluru-based Shriram Properties to develop a housing project in Kolkata. The company has entered into a development agreement with Bengal Shriram Hi Tech City Pvt Ltd (a group company of Shriram Properties Ltd), for development of senior living and regular housing project on a piece of land measuring 19.72 acres, the company said.
·HCL Technologies acquires assets of US-based Trygstad
HCL Technologies will buy certain assets of Trygstad Technical Services in an all-cash deal. Trygstad is a US-based IT consulting services and solutions firm and has deep expertise in areas of core engineering, Internet of Things, embedded systems and Intelligent Systems. With this strategic acquisition, HCL enhances its ability to provide additional value and turnkey solutions to ecosystems of large Independent Software Vendors (ISVs).
·June WPI In-Line with Estimates
WPI inflation for June 2015 came in at -2.4% compared to expectations of -2.3%. The WPI inflation for April 2015 was revised to -2.43% Vs provisional number of -2.65%.
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