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Friday, February 6, 2015

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JSW Steel cuts capex plans by 20% this year
JSW Steel has cut capex plans by 20% this year becoming the latest victim of a global commodity price plunge that has spooked global markets and threatened the growth prospects of many countries.
The Sajjan Jindal-led steel firm will spend only Rs6000 crore for the year ending March versus the earlier estimated Rs7500 crore.

Cipla fights Indacaterol patent battle in HC
Indian generic drug manufacturer Cipla Ltd urged the Delhi high court on Thursday to consider public interest and set aside an order restraining it from manufacturing and selling Indacaterol, used for the treatment of chronic obstructive pulmonary disorder (COPD).

RBI issues norms for CCCB in banks
As per the RBI framework the activation of CCCB to take place when circumstances warrant (currently circumstances do not warrant activation).CCCB buffer maybe kept in form of equity Tier-I capital Buffer may be 0-2.5% of banks total risk weighted assets so as to build capital buffer in good times, which may be used to maintain flow of credit in difficult times. It also restricts indiscriminate lending by banks in periods of excess credit growth.

Tata Comm signs $20 million Global WAN deal with KION Group
Tata Communications announced that it has won a multi-year contract with the KION Group, the second largest global manufacturer of forklift trucks and warehouse technology, to provide global WAN services to the group's 280 sites and 22,000 employees across 30 countries worldwide.

Tech Mahindra announces opening of new customer service centre
Tech Mahindra announced that Three Ireland opened a new customer service centre in Waterford. Tech Mahindra currently provides customer care services for Three's consumer customers as well as various back office services.

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