Shares of IDFC rose 4% to Rs161 on the NSE after the company announced that IDFC bank has received bank license from the Reserve Bank of India ( RBI). The Reserve Bank of India on July 23, 2015 has granted banking licence to IDFC Bank Limited' for undertaking banking business in India under Section 22(1) of the Banking Regulation Act, 1949.
·Surya Roshni wins Rs85 crore order from EESL
Surya Roshni Ltd has been awarded orders for supply of LED Bulbs, Street Lights and other lighting products worth Rs 85 crores from Energy Efficiency Services Limited ( EESL) and from NTPC.
The said orders includes supply of 86 lac LED Bulbs under Domestic Efficient Lighting Programme (DELP) through competitive bidding – positive for the stock.
·Tata Power plans to scale up generation capacity to 18,000 MW
Tata Power plans to scale up generation capacity to 18,000 MW, with 20-25 per cent coming from clean and green sources, by 2022. – Positive for Tata Power
·BHEL signs 3 strategic MoU’s in Kazakastan
BHEL has signed three strategic MoU’s in Kazakastan during PM Narendra Modi’s visit.
·After Maggi noodles, Nestle halts pasta supply to change labeling
After Maggi noodles, Nestle halts pasta supply to change labeling – Sentimentally negative read thru .Nestle's Maggi Pazzta too has gone off shop shelves as the Indian arm of the Swiss foods giant has temporarily halted supplying its instant pasta brand to retailers to change its pack labels and remove the 'no added MSG' declaration.
·Government release draft Financial code
Government has come out with draft of Indian financial code whereby government and RBI with determine the inflation target at every three years. As per the draft the chief of RBI, may not have veto on the interest rate decision of the central bank's monetary policy committee. The draft has also proposed that the all-powerful committee would have four representatives of the government and only three from the central bank, including the 'RBI Chairperson'. The comments are invited till August 8th, 2015 and post that final legislation can be drafted.
·NIIT Tech recognised as '50-Best IT-BPM Company to Work For in 2015'
NIIT Technologies has been recognised as one of the '50-Best IT-BPM Company to Work For in 2015' by Great Place to Work® Institute. Additionally, the Company has also been conferred as the 'Top 5 Large Organisations ' in the IT-BPM domain which include companies having over 5000 employees.
·Coal India plans tariff-based bidding for future contracts
CIL plans a tariff-based bidding mechanism to award all contracts in the future. Coal India is likely to allot fuel supply contracts to state distribution companies that in turn will call tariff-based competitive bids from companies. This will also solve the problem of lack of power purchase agreements to power companies, in a way. Consequently, power companies that undertake to supply electricity at lowest rates to distributors stand to win coal supply contracts from Coal India.
·Bank of Baroda gains as RBI lifts FII limit
Bank of Baroda gained nearly 2% to Rs155.10 on NSE after RBI lifted restrictions on foreign investors to buy company shares; positive for BOB. The stock opened at Rs154 marking days low at Rs153.50 and hit an intraday high of Rs155.70 on NSE so far. RBI has removed restrictions placed on foreign investors to buy shares in Bank of Baroda, saying the limit has gone below threshold. As of quarter ended June 2015, FIIs held a 13.55% stake in Bank of Baroda.
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