TOP CORPORATE NEWS - 26 AUG 2015

·  M&M achieves sales milestone of 1.25 lakh LCVs

Mahindra & Mahindra (M&M) announced that Mahindra Truck and Bus Division has rolled out its 15000th heavy commercial vehicle from the state-of-the-art plant in Chakan, Maharashtra. In addition, the company also reached a sales milestone of 125,000 light commercial vehicles ( LCVs) on Indian roads.

· Cambridge announces contract with leading Netherlands

Cambridge Technology Enterprises ( CTE) announced its engagement with a Netherlands based private leading technology company connecting the worlds of print, archive and online. CTE's relationship with this company is to provide operations support for their e-publishing services. The client requires faster turnaround time for its e-paper and magazine operations, a need CTE's domain expertise can play an instrumental role in meeting.

                                                                                

·   Gayatri Projects spurts on receiving Rs3,318 crore worth of orders

Shares of Gayatri Projects rose 9% to Rs450 on the BSE after the company announced that it has received Rs3,318 crore worth of orders from NHAI. The development is positive for Gayatri Projects.

The company received another set of orders amounting to Rs 1,792 crore for development of four-lane Sultanpur to Varanasi section of NH-56 on EPC mode. Gayatri Projects is a Hyderabad-based infrastructure and construction company with a presence across the segment, primarily undertaking road and irrigation projects.

·  L&T Construction wins order from KAHRAMAA

Larsen & Toubro ( L&T) announced that L&T Construction has won 494.45 Mn QAR (Rs864 Crores) Order from KAHRAMAA.

·  Lupin gains on USFDA nod for Diclofenac Sodium

Shares of Lupin rose 3% to Rs1875 on NSE after the pharma major received approval from the US Food & Drug Administration for anti-inflammatory drug Diclofenac Sodium. The stock opened at Rs1838 and touched a high of Rs1895 on NSE. The stock has gained nearly 11% during August 2015 so far against nearly 7.5% decline in the Sensex.

                                                                                                                                                                                                                                                    

·  TCS donates $35 mn to Carnegie Mellon University

Tata Consultancy Services ( TCS)  has announced a $35 million gift from TCS to Carnegie Mellon University, marking a new era of partnerships between leaders of Industry and academia. Representing the largest corporate gift to the University and from outside the US, this donation will fund a new facility, the Tata Consultancy Services Building, which will support education and cutting-edge research by Carnegie Mellon University faculty and students.

                                                    

· IOB gains after approval of preferential issue price

Indian Overseas Bank (IOB) said that in a meeting of committee of directors held on August 25, 2015, the committee of directors approved that the issue price for allotment of equity shares under preferential issue to Government of India is fixed at Rs41.37 per share and number of shares to be allotted to Government of India is 48.56 crore shares aggregating to Rs2008.99 including share premium.

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