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Thursday, March 5, 2015

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Lok Sabha passes Coal Mines bill to allow e-auction
Lok Sabha passed the Coal Mines bill yesterday to allow e-auction of coal blocks. Hence, the Coal Mines (Special Provisions) Bill, 2015, would replace two ordinances issued by the government..

DHFL raises over Rs800 crore via QIBs
Dewan Housing Finance Corporation Ltd ( DHFL) today said it has raised Rs809.61 crore by issuing shares to institutional investors.The company said it has issued and allotted 1,69,31,102 equity shares to the Qualified Institutional Buyers ( QIBs) at a price of Rs478.18 per equity share, including a premium, aggregating to Rs809.61 crore.
                                                                                                  Asian Paints to get concessions for new plant
Asian Paints to get concessions for new plant in Andhra Pradesh – positive read through for the stock.The Andhra Pradesh Government approved the proposal of Asian Paints Limited for setting up of a Rs1750 crore Greenfield paints manufacturing unit near Visakhapatnam. The State government has also approved VAT rebate and other concessions for the company.

SC agrees to transfer all cases related to quadric cycles
The Supreme Court has agreed to transfer all cases pertaining to introduction of quadric cycles to itself and put a stay on all petitions against the proposed launch. Eight writ petitions had been filled in various courts across the country challenging introduction of quadric cycles. The government had on February 5th requested clubbing and transfer of all cases related to quadric cycles to SC. The move is sentimentally positive for Bajaj Auto.

Tech Mahindra to expand operations
Tech Mahindra announced that it has inaugurated its Vietnam sales office in Hanoi, bringing jobs, IT expertise and expanding operations in the country and across the region. Tech Mahindra has been working with customers, especially in the banking sector, in Vietnam since 2012.

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