TO CORPORATE NEWS - 12 OCT 2015

· BHEL gains on robust project commissioning

Bharat Heavy Electricals (Bhel) said it commissioned 2,730 megawatts (MW) of utility power projects in the first half of the current financial year (2015-16). This is the highest achievement in the corresponding period in last 4 years. It is also more than double the power project commissioning achievement of 1,167 MW in the corresponding period of last year. 

· HCC wins Rs942.58 crore contract from BARC

Hindustan Construction Company Ltd has informed that the Company has been awarded a prestigious BARC contract worth Rs942.58 crore for constructing the first phase of Integrated Nuclear Recycle Plant of BARC. The scope of work includes construction of fuel processing plant, lab building, disposable material block along with in-situ fabricated stainless steel tanks & liners and electromechanical works. The Project will be completed in 36 months.

· Inox Wind bags 50 MW repeat order from Tata Power

Inox Wind Ltd has submitted to BSE a copy of Press Release dated October 12, 2015 titled 'Inox Wind Bags 50 MW Repeat Order from Tata Power Renewable Energy Ltd'.

· Yes Bank gets approval to set up Mutual Fund

Yes Bank has received approval from the Reserve Bank of India to sponsor a Mutual Fund and to set up a Asset Management Company ( AMC) and a Trustee Company.

The AMC and the Trustee Companies shall be set up as wholly owned subsidiaries of Yes Bank. Yes Bank will now apply to SEBI to seek necessary approvals.

· Ramco Systems implements its Payroll software for GE

Ramco Systems announced that its Payroll software is being implemented by GE. With this implementation, Ramco's end to end payroll is all set to provide modules for payroll, taxes, time & attendance, leave management, loans and reimbursements and self service to GE's employee base in the Middle East, thus providing automation for GE MENA with comprehensive integration of various HR processes of the organisation.

·  Hero MotoCorp sells 3 lakh two wheelers via Snapdeal

Hero MotoCorp has sold 3 lakh two wheelers on e-commerce platform Snapdeal in the last 10 months since tie-up. The e-commerce platform complements its strong sales and distribution network. Positive for Hero MotoCorp.  

·CEA identifies 57 coal plants to upgrade

The Central Electricity Authority has identified 57 coal-based power units (both Central as well State enterprises) with a total capacity of 32,000 MW for being upgraded to Super critical become more efficient and reduce emission.This follows a directive from the Ministry of Power to replace units that are more than 25 years old with super critical units of 660 MW and above. This will open up opportunities for equipment manufacturers like BHEL, L&T and several others.
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