·
Ahluwalia Contracts bags new
order worth Rs220.47 cr
Ahluwalia
Contracts has secured new orders aggregating to Rs220.47 crore for construction
of Institutional/ commercial buildings. The company is currently L1 in projects
valued at Rs412 crores and projects bidded under pipeline are Rs1800 crores.
The company’s current order book stands at Rs4300 crores. The development is
positive for Ahluwalia Contracts.
·
Asian Paints to invest
Rs2,300-crore on new plant in Karnataka
Asian Paints plans
to invest up to Rs2,300 crore to set up a (6 lakh KL per annum) manufacturing
plant at Mysuru in Karnataka. The proposal for setting up the manufacturing
facility in Karnataka is towards fulfilling the long term capacity requirements
of the company and is subject to the future demand conditions.
·
Maruti Suzuki board approves
pact with parent for Gujarat plant
Maruti Suzuki
board approves pact with parent for Gujarat plant; paves way for minority
shareholder approval.The Maruti Suzuki board has approved the contract
manufacturing agreement with parent, Suzuki Motor Japan for its upcoming
Gujarat facility. The contract manufacturing agreement is for 15 years and will
be automatically extended for another 15 years.
·
AAI asks SpiceJet to pay
additional Rs70 lakh per day
Airports Authority
of India ( AAI) has asked SpiceJet to pay an additional Rs70 lakh per day
over and above the daily payment of Rs1.3crore (towards landing, parking and
other support services) to clear its dues, totaling around Rs150 crore
–sentimentally negative for the stock.
·
Government to take up on SEB
debt recast issue
Union Cabinet is
likely to consider to recast Rs 4.3 lakh crore loan of 9 discoms. The proposal
is that for these 9 discoms the interest on loans could be brought down to 9%
compared to 14% currently which could bring a lot of relief for these nine
discoms (UP, Tamil Nadu, Telengana, MP, Rajasthan, Jharkhand etc). These
discoms are facing interest burden with poor tariff structure.
·
Biocon acquires
Vishakhapatnam-based company's mfg plant
Biocon acquires
Vishakhapatnam-based company's manufacturing plant – Positive for the company
Biocon has acquired a manufacturing unit of Vishakhapatnam- based Acacia Life
sciences for an undisclosed amount. The company has acquired business assets of
the pharmaceutical manufacturing unit of Acacia Life sciences with effect from
October 1 2015.
·
Godrej Consumers to target
urban consumers with new launches
Godrej Consumer
Products to launch new products targeting urban consumers; impact of deficient
monsoon on rural demand will be lesser for the company – positive read through
for the stock .Godrej Consumer Products Ltd (GCPL) is banking on new products,
mainly targeted at urban consumers, to offset impact of decline in rural demand
due to deficient monsoon. The company is set to launch new products in personal
care and home care segments in the next two weeks which is expected to boost
its urban sales in the coming quarters.
