TOP CORPORATE NEWS - 15 JUN 2016

Tech Mahindra gets Bombay High Court relief on bonus payment

The Bombay High Court has passed an interim order staying the retrospective operation of the Payment of Bonus (Amendment) Act, 2015.

The verdict was passed based on a writ petition filed by Tech Mahindra and also directed the Union Government not to take any coercive action till a final order is passed in the matter.

Tech Mahindra had challenged that the retrospective operation of the Amendment Act with effect from April 1, 2014.

M&M aims to double market share in MHCV segment

M&M to enter intermediate CV market and strengthen bus portfolio; aims at doubling market share in MHCV segment over the next two years

M&M is set to enter the intermediate CV space, a category it is absent in, and is putting Rs 700 crore for this, over three years. M&M plans to come up with 11 different products in the six to 16-tonne category (ICV space).

Info Edge subsidiary partner for Apple's new Maps platform

Info Edge: Zomato (a subsidiary of Info Edge) is one of the launch partners for Apple's new Maps platform

Zomato is among the launch partners for Apple's new maps platform. This new platform, dubbed as Map extensions, will allow third party developers to integrate their app functionalities directly into Apple Maps in iOS 10.

Zomato told that customers will be able to make table bookings from within Apple Maps.

Bharti Airtel, Singtel join hands to provide data network coverage

Singapore Telecommunications Limited ( Singtel) and Bharti Airtel  has announced that they have joined hands to deliver high-speed, secure data network coverage to Asia-Pacific, the Middle East, Africa, Europe and the US.

The companies have combined resources into one network to provide high speed data connectivity to 325 cities across the world through 370 Points of Presence (PoP). This will form one of the largest Internet Protocol Virtual Private Networks (IP VPN) globally.

Dewan Housing to issue NCDs on private placement basis

Leading housing finance company, Dewan Housing Finance Corporation has announced that it is planning to issue Secured Redeemable Non-Convertible Debentures amounting to Rs400 crore and a Greenshoe option upto Rs175 crore on Private Placement basis.

Aurobindo gets USFDA nod for minocycline hydrochloride

Aurobindo gets USFDA nod for minocycline hydrochloride extended release tablets, used to treat bacterial infections such as urinary tract infections, respiratory infections, skin infections, severe acne and others – Positive for Aurobindo.

                                        

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