·
Govt plans to auction 69
marginal oil fields
Govt. modified
to revenue sharing method and plans to auction 69 marginal oil fields-positive
read thru for smaller upstream companies.The petroleum and natural gas ministry
announced policy change in the sector and few other changes to monetize idle
assets and improve production. From the existing production sharing contract
formula, the ministry is shifting to revenue sharing method, which will be
linked to market price of the spot oil price.
·
Telangana to spend Rs81,000
crore in irrigation segment
The Telangana
government will be spending Rs 81,000 crore in next three years to complete
pending irrigation projects and take up new projects to lift water from the
Godavari and Krishna rivers. As Gayatri Projects has considerable orders in
irrigation segment in the states of Andhra Pradesh and Telangana, the move will
help in expediting the execution of slow moving irrigation projects of the
company.
·
Coal India falls on
production concerns
Coal India
dipped over 1%, touching to Rs339.6, after a majority of nearly 4 lakh coal
workers across the country joined the strike yesterday called by trade unions,
affecting 50% of the about 1.7 million tonne (MT) day's production.Coal workers
across the nation joined the nationwide strike on the call of major trade unions
like INTUC, AITUC and CITU to pitch for their agenda that includes opposition
to any further stake sale in Coal India
·
HCL, Manchester enters into
global partnership
HCL Technologies
and Manchester United have entered into a global partnership. As part of this
partnership HCL and Manchester United will work together to explore and unveil
a number of digital initiatives to transform the experience of the Club's 659
million global followers. As the first step, HCL will create a state-of-the-art
United Xperience Lab to be housed within the iconic Old Trafford stadium, which
will make it the seventh such lab across the world.
·
Ratnamani rises on receiving
Rs528 crore order from L&T
Shares of
Ratnamani Metals gained 3% to Rs606.75 on NSE as the company has received an
order for supply of CS pipes from L&T amounting to Rs528 crore which shall
be completed by June, 2017.
Order book at
the end of June 2015 was Rs944 crore new order from L&T will boost its
order book. Positive for the company.
·
Government to take NH length to
1.5 lakh km by Dec
The government
is committed to adding about 50,000 km of National Highways by the year end to
take their length to 1.5 lakh km. Besides, 10,000km of highways would be widened
to four lanes from two lanes in two years. Recently, 9 projects were awarded on
a PPP model as against only 3 last year. Of the stuck projects worth Rs3.8 lakh
crore, a majority have been rolled out and problems related to projects worth
about Rs60,000 crore are being addressed.
·
Infosys Finacle launches
solutions for Payments Banks
Infosys Finacle,
part of Edge Verve Systems, a product subsidiary of Infosys has launch Finacle
Payments Bank and Finacle Small Finance Bank solutions for the India market.
These solutions are specifically modified for organizations seeking payments
banks and small finance banks licenses from the Reserve Bank of India (RBI).
With these solutions, licensees can set up the required technology backbone and
become operational quickly.
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