TOP CORPORATE NEWS - 18 AUG 2015

· Q1FY16 Result update: Strong show

 Other income has increased to Rs8.1 crore against Rs3.1 crore in Q1FY15, which aided in 48.7% yoy growth in net income to Rs 53.4 crore. The company has started the year with back to back blockbusters like Tanu Weds Manu Returns, followed by super success of like Bajrangi Bhaijaan  other regional movies

· Rajesh Exports secures Rs1170 cr worth export order

Rajesh Exports has bagged an export  order worth Rs1170 crores of designer range of  gold and  diamond studded jewellery and medallions from M/s. AI Malek  Jewellery, UAE. The  order is to be completed by October 31, 2015. Execution of this  order will significantly add to the bottom line of the company.

·  Asian Paints to double Rohtak plant capacity to 4 lakh kilo litres

Asian Paints is looking to increase its capacity by 20 per cent to 12 lakh kilo litres (KL) per annum by March 2016, which will be mostly powered by a doubling of capacity at its Rohtak facility. The expansion would be driven by capacity enhancement at its Rohtak (Haryana) plant to 4 lakh KL from the existing 2 lakh KL.

·         ITNL board to mull on rights issue; stk up

IL&FS  Transportation  Networks Ltd (ITNL) has announced that a meeting of the board of directors of the Company will be held on August 26, 2015 to consider issue of  equity shares of the Company on rights basis

· United Bank of India revises interest rates on deposits; stk up

Shares of United Bank of India gained nearly 5%, touching to Rs25.3, after the bank reduced  interest rate on  domestic term  deposits by 25-50 basis points across various maturities. For  deposits 181 to 269 days the bank has reduced  rates to 7% from 7.25% earlier. For a period of 270 days to less than a year for amounts upto Rs 1 crore the new rate will be 7.25% against 7.50% earlier, the bank said in a release.

·  SBI cuts deposit rates by 25-50 bps on select maturities

SBI has reduced its  deposit rates by 25-50 bps for selected maturities. The bank has been reducing its  deposit rates to match cut in base rates which will be reflected in the coming quarters and thereby cushion the NIMs.

· Siemens wins orders worth Rs75 crore

Siemens is modernizing the electricity distribution networks of Amritsar, Jallandhar, Ludhiana, Dehradun and Faridabad through SCADA/DMS functionality.

The objective of these projects is to improve the quality and availability of the power supply to residents as well as to reduce the downtimes in the event of blackouts in the entire grid. The volume of the orders amounts to a total of approximately Rs75 crore.

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