Corporate News 24-Sep-15

·         Government de-licenses use of very low frequency bands

Government de-licenses use of very low frequency bands for the automotive sector; positive for Maruti Suzuki. The government has de-licensed some very low frequency bands for use to the automotive sector. These bands are used for next generation safety systems like blind spot monitoring, adaptive cruise control and lane departure warnings.The move will immediately benefit automakers in exports to developed markets wherein these systems are currently used and could not be tested in India due to the restrictions.

                                                               

·         Bharti Airtel partners with Liquid Telecom to provide faster internet

Bharti Airtel partners with Liquid Telecom to provide faster internet speeds using the Liquid Telecom’s 20,000 long terrestrial fibre networks.

                                                                                

·         HCL Tech launches a Digital Service Exchange platform

HCL Technologies announced the launch of a new Digital Service Exchange platform enabled by Service Now software. This platform provides Service Integration and Management ( SIAM) capabilities to enterprises allowing them to request and receive business services efficiently across their organizations. This offering combines Service Now's industry-leading service management platform with HCL's expertise in enterprise service management process design, process and technology integration and organizational change enabling a united service experience.

·         MindTree Ltd allots 3,124 equity shares under ESOPs

MindTree Ltd has informed regarding 'Allotment of 3,124 Equity Shares of Rs.10/- each, under Employee Stock Option Plan 2001 (Program 2) and 1,771 Equity Shares of Rs.10/- each under Mindtree Employee Restricted Stock Purchase Plan 2012 (Program 8) on September 24, 2015'

·         Suzlon bags contracts to supply 105 MW wind turbines

Suzlon has bagged contracts to supply 105 MW (50 turbines of 2.1 MW each) wind turbines in projects located across Andhra Pradesh, Gujarat, Karnataka, Madhya Pradesh and Tamil Nadu.                                                                                                   

·         Balmer Lawrie plans capex of Rs400 crore

Balmer Lawrie in Its AGM announced a capex plan of Rs400 crore for the next three years. The mini-ratna company will also infuse another Rs100 crore for further expansion and modernisation of its ongoing activities. All these will go to help the company double its turnover to Rs 3,000 crore over the next five years.   

                                           

·         RECL inks MoU with for extending financial assistance

Rural Electrification Corporation Ltd (RECL) has announced that the company has on September 23, 2015 signed Memorandum of Understanding ( MoU) with Andhra Pradesh Power Generation Corporation and Transmission Corporation of Andhra Pradesh, for extending financial assistance to: 1. Andhra Pradesh Power Generation Corporation (APGENCO) of Rs3,000 crore for the proposed 500 MW Solar Power Generation Project in Anantapur District of Andhra Pradesh; and 2. Transmission Corporation of Andhra Pradesh (APTRANSCO) of Rs6,000 crore for various Transmission & System improvement projects coming up in the Capital region of Andhra Pradesh.