TOP CORPORATE NEWS - 10 SEP 2015

· M&M launches TUV3OO at Rs6. 9 Lakh

Mahindra & Mahindra ( M&M) launched its compact utility vehicle TUV 3OO priced between Rs6.9 Lakh and Rs9.12 lakh (ex-showroom Pune). The vehicle will be available in three trim levels and will also have an option of an automated manual transmission (AMT). The vehicle is powered by a new three cylinder m Hawk engine with a power output of 80bhp. The vehicle will also have an option of micro-hybrid in the top variant.

                                                                                                                                                                                                                                                      

· L&T looks at Rs3,000 crore orders from Sri Lanka

L&T looks at Rs3,000 crore orders from Sri Lanka as three infrastructure projects are expected to come up as per media reports. – Positive read thru

                                                                                

· RSGL to build natural gas infrastructure in Rajasthan

 RSGL (JV of GAIL & RSPC) to raise upto Rs2,700 crore to build natural gas infrastructure in the state of Rajasthan – Positive for GAIL

·  NTPC to raise Rs700 cr via tax free bonds

State-run power utility NTPC said that it will raise up to Rs700 crore through tax free secured non-convertible bonds. The government has authorized the company for raising Rs1,000 crore through tax free bonds, during the fiscal 2016, including Rs700 crore to be raised through public issue, the company said. NTPC is diversified its businesses into hydro power, coal mining, power equipment manufacturing, oil & gas exploration, power trading & distribution.

· Suven Life jumps on securing 5 product patent

Suven Life Sciences secured five (5) Product Patents in China, Israel, Mexico, Singapore and Sri Lanka .Reacting to this news share of Suven Life Sciences surged nearly 7%, to Rs221.20.

                                                                                                                                                                                                                                                    

·  ITC lines up Rs2,500 crore investment in Tamil Nadu

ITC lines up Rs2,500 crore investment in Tamil Nadu as part of tapping food processing and hotel businesses; the company has planned to invest Rs25,000 crore country wide – positive from long term perspective

                                                    

·  LIC, United India assurance increase holding in Axis Bank

 LIC and United India assurance increase holding in Axis Bank amid weakness in stock price  -- positive read thru for Axis Bank .Leading shareholders in Axis Bank such as LIC and United Insurance Corporation have purchased 64.29 lakh shares from the open market amid the recent weakness in stock prices.

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