·Ahluwalia Contracts bags Rs318 crore orders
Ahluwalia Contracts has secured new orders aggregating Rs317.65 crores for construction of Institutional/Residential building, including Electrical, Plumbing and firefighting services.
·Eros to fetch Rs100 crore from ‘Bajrangi Bhaijaan’ release
Eros International: Eros’s much anticipated film of the year ‘ Bajrangi Bhaijaan’ hit the theatres and the film had an excellent first and second day at the Box Office. As per the trade sources, box office collection of the movie will cross Rs100 crore in the first weekend. Positive read-thru for Eros International.
·Maruti Suzuki plans to hire 2,500 relationship managers for Nexa outlets
Maruti Suzuki planning to hire 2,500 relationship managers for its Nexa outlets; company plans for a premium buying experience with Nexa Domestic passenger vehicle market leader ie Maruti Suzuki plans to hire upto 2,5000 relationship managers for its upcoming Nexa outlets.
·Government planning to start work on 10 express highways
Government planning to start work on 10 express highways – Positive for IRB Infrastructure, IL&FS Transportation, Ashoka Buildcon, Sadbhav Engineering, KNR Constructions among others
The government is planning to start work on 10 world class express highways on the pattern of Mumbai Pune express highways. These include Nagpur-Mumbai, Bangalore-Chennai, Baroda-Mumbai, Katra-Amritsar and Ludhiana-Delhi.
·Tata Motors plans capex of upto Rs4,000 crore
Tata Motors will be making significant investments to develop new models both in the passenger vehicle and commercial vehicle segments. The company plans to invest between Rs3,000 to Rs4,000 crore in FY2016 in capital expenditure bulk of which will be into product development. The company also plans to raise Rs4,000 crore via NCDs during the year. Additionally the management has guided for a capital spend of GBP3.5bn in Jaguar Land Rover operations
·PTC India to eye for more medium term contracts
PTC India is eyeing increasing the number of medium-term power purchase agreements with power generators and utilities, as per media reports. This is in line with the company’s efforts to enhance volume with a right mix of long term and medium term volume as transmission constraints have hampered PTC India’s short-term sales which have reflected in the company’s declining sales volumes. ·Crompton Greaves in talks for sale of overseas power business
Crompton Greaves in talks with First Reserve for sale of overseas power business to reduce group debt –Positive for Crompton Greaves .CG has been on a selling spree and had targetted hiving off the overseas power business and sell the unit by Q2FY16, this plan is on track with First Reserve showing interest in the assets.
·Banks seek RBI nod to spread Q1 bond losses over four quarters
Banks have requested the RBI to allow them to amortise mark-to -market losses (writing down assets at current values) over the next four quarters as they are worried over mounting losses in their bond portfolio in the Q1FY16. The Yields on G-Sec which were on a declining path since early October last year, reversed their trajectory and have gone up by ~15 bps after RBI announced a hawkish stance in its bimonthly policy review in June. ·RPP Infra bags order from Chennai Corp
RPP Infra Projects has announced that the company has bagged prestigious order worth Rs456 million from Chennai Corporation.
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