TOP CORPORATE NEWS - 14 OCT 2015

·Deep Industries wins contract worth Rs90.33 cr

Deep Industries has received Notification of Award of Contract for charter hiring of No. 1 of 1000HP Mobile Drilling Rig for Tripura Asset of ONGC for a period of three years. The total value of the said award is of US $ 14 Mn i.e. approx Rs90.33 crore.

·Royal Enfield opens exclusive showrooms in Madrid and Paris

Royal Enfield (subsidiary of Eicher Motors) has opened exclusive showrooms in Madrid and Paris as part of its growth strategy in Europe. The company also unveiled its gear collection in these markets. Positive for Eicher Motors.   

·  ABB bags order worth Rs141 crore from PGCIL

 ABB has bagged order worth Rs141 crore from PGCIL for supplying ultrahigh voltage power transformers for substations in Uttarakhand and Uttar Pradesh – Positive for ABB I

·ED arrests 6 people in Bank of Baroda money laundering scam

ED arrests 6 people in Bank of Baroda money laundering scam – negative read thru. In a probe into the suspected laundering of about Rs6000 crore through one of its branches, the Enforcement directorate has arrested six people including two employees of Bank of Baroda and an employee of HDFC Bank.

· Asian Oilfield arm completes project in Iraq

Asian Oilfield Services has said that its Dubai based subsidiary has completed a 3D seismic survey over 100 square kilometers in the challenging terrain of the exploration area of Shakal license block for Gazprom NEFT ME B.V in Kurdistan region of Iraq. The survey was completed safely with zero loss time injuries.

· Cairn India to exit Sri Lankan gas block

Cairn India will exit its Sri Lankan gas block after two discoveries it had made were found to be commercially unviable. However the street was expecting positive outcome from these blocks - Negative for Cairn India.

· Conference call highlights of Cox & Kings acquisition of Late Rooms

 Cox & Kings has acquired 100% stake in Late Rooms Ltd (online travel booking website) from TUI group for GBP 8.5 million (Rs85crore). Late Rooms is a profitable online hotel booking in specialist in UK with over 54,800 properties globally. Cox & Kings plans to sell its Holiday breaks leisure travel products through Late Rooms website in UK. Over the long run the plan is to sale all the Cox & kings holiday products globally through this website.
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