TOP CORPORATE NEWS -19 AUG 2015

·Petron Engineering secures order worth Rs11.75 crore

Petron Engineering Construction announced that the Company has received work order from Shree Cement, Bewar, Rajasthan for Civil construction work and Reinforcement & M. S. Steel work of Ball Mill Structure for a total contract value of Rs11.75 crore (excluding service tax).

· Glenmark Pharma has been grant final approval by USFDA

Glenmark Pharmaceuticals has been granted final approval by the United Stated Food & Drug Administration ( USFDA) for Drospirenone and Ethinyl Estradiol Tablets USP, 3 mg/0.02 mg, the generic version of Yaz Tablets of Bayer Healthcare Pharmaceuticals Inc. Glenmark plans to commence shipping of Drospirenone and Ethinyl Estradiol Tablets USP, 3 mg/0.02 mg immediately.

                                                                                

· PM announces Rs 54,713 crore package for Bihar Highways

PM announces Rs54,713 crore package for Bihar Highways – Positive for IRB Infrastructure, IL&FS Transportation, Ashoka buildcon, Sadbhav Engineering, KNR Constructions, Gayatri Projects among others .Prime Minister Mr. Narendra Modi announced package of Rs54,713 crore for development of highways for the state of Bhiar. The package comprises of 2,775km of national highways, construction of bridges and construction of 12 rail over bridges.

·DLF sells four acre land parcel in Kochi for Rs111 crore

DLF sells four acre land parcel in Kochi for Rs111 crore as part of its plan to sell noncore assets to boost cash flows and reduce debt – Positive for DLF.

·Infosys bags order from Fidelity Bank of Nigeria

Infosys bags order from Fidelity Bank of Nigeria – positive read thru .Infosys Finacle a product subsidiary of Infosys has bags order from Fidelity bank of Nigeria, it will migrate core banking platform from finacle version 7 to finacle version 10. This migration is part of the bank transformation initiative, enhance its operational efficiency, strengthen innovation capabilities and support scalable growth. It will help the bank with in depth customer analytics, right-sell opportunities, and personalized offerings.

· Intellect Design bags order from Hong Leong Bank

Intellect Design Arena announced that Malaysian Hong Leong Bank Berhad has appointed the Company as its partner in the bank's effort to transform and digitise its wholesale banking offerings.

The bank's adoption of Intellect's multi-award winning Intellect Global Transaction Banking (‘iGTB') suite is in line with the global Banking 3.0 trend whereby technologies such as mobility and cloud are redefining financial services and payments worldwide.

                                                                                                                                                                                                                                                    

·AAP demands action against discoms on leaked CAG report

AAP demands action against discoms on leaked CAG report on Delhi discoms; Delhi BJP unit demands CBI probe - Sentimentally negative for Rinfra and Tata power. As per leaked CAG report the three private power distribution companies (discoms) in the Delhi –R infra owned  BSES Yamuna Power Ltd (BYPL) and BSES Rajdhani Power Ltd (BRPL) and Tata power owned TPDDL have inflated their dues to be recovered from consumers by almost Rs8,000 crore.

                                                    

·Gammon India plans to separate two businesses

Gammon India is planning to separate two of its businesses and transfer them to its wholly owned subsidiaries as the company looks to reduce its high debt by raising fresh money in the two new firms.

The company will separate its EPC and transmission & distribution businesses and transfer them to Gammon Retail Infrastructure and Transrail Lighting.


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