Corporate Announcement

In an effort to protect the domestic steel industry from surging Chinese imports, the Finance Ministry has hiked the duty imposed on various categories of steel.

The Centre took a number of key decisions on Wednesday, including raising the minimum support price for a range of pulses and approving a 'Housing for all by 2022' scheme.

Competition in the banking sector is set to intensify with Bandhan Financial Services getting the final approval to become a full-fledged bank from the Reserve Bank of India with IDFC set to get approval soon.

The Centre has approved 16 proposals of foreign direct investment (FDI) worth Rs. 67.5 bn.

Bharti Airtel has terminated its agreement with Helios Towers Africa (HTA) for sale of tower assets in Tanzania and Tchad signed last year.

HDFC Bank, the country's second-largest private sector bank, has cut its base rate by 15 basis points (bps) to 9.70 per cent. The new rate came into effect on June 15.

PTC India Financial Services Ltd (PFS) has raised about $60 million from two international development finance bodies to fund renewable energy projects.

GMR Airport Developers Ltd (GADL), a subsidiary of GMR Infrastructure Ltd, has signed a memorandum of understanding (MoU) with the Oman Airport Management Company (OAMC) for providing training and consultancy services.

Dhanuka Agritech Ltd plans to launch two new molecules in India in the next few months, one of which will be an herbicide for soyabean and the other a fungicide for horticultural crops and paddy.

Unions representing Tata Steel workers in the UK have temporarily suspended industrial action that began yesterday, and will begin consulting members, after the company made a new offer to the unions over pension arrangements.

Torrent Pharma has got approval from the government to raise the limit of investment by foreign institutional investors (FII) from 13.09 per cent to 35 per cent.

Nestle India was investigating the complaint of live beetles reportedly found in a baby milk food supplement produced by it and was fully cooperating with the authorities on the matter.

ACC has resumed limestone mining operations at Bargarh, Odisha, after about nine months.

The board of NLC Tamil Nadu Power Limited (NTPL), a joint venture company involving Neyveli Lignite Corporation, gave its nod to borrow Rs 12 bn from Power Finance Corporation.

Cipla Ltd is planning to enter Latin America and Eastern Europe to tap into growing demand for generic drugs in emerging markets.

The Bombay High Court has ruled that Madhu Kapur, the widow of YES Bank's co-founder Ashok Kapur and the legal heir, has the right to jointly nominate directors to the board of the bank.

The Centre's resolve to defend its position in the Rs. 20,494 Cr retrospective taxation case with Cairn India.

 

Suzuki signs deal with Malaysian carmaker Proton for assembly and sale of entry level model. The deal to drive exports for Maruti Suzuki. 

NTPC has entered into an agreement with Jammu and Kashmir State Power Development Corporation Ltd to form a JV company for mining at Kudanali-Luburi coal block in Odisha.

 

HDFC Bank has cut its base rate, or minimum lending rate, by 0.15%, a move which will lower EMIs for its borrowers.

 

Lakshmi Vilas Bank Increases Interest Rate On Savings Balances and says Fixed Deposits Rates Have Been Reduced By 10-25 bps Across Various Tenors.

 

Talwalkars Fitness Opens QIP Issue, May Offer Max Discount Of 5% on Floor Price Of Rs. 319.26/Share.

 

Dhanuka Agritech to launch a herbicide and a fungicide molecule in India in next few months.

 

City Union Bank Board To Consider Seeking Shareholders Approval To Raise Capital Through QIP.

 

Mahindra Aerospace & GE Aviation In Partnership For Aerostructure Mfg (M&M in focus).