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Wednesday, May 20, 2015

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Government approves stake worth Rs50,000 cr in 20 PSUs
As per media reports, the Cabinet Committee on Economic Affairs (CCEA) has granted approval for stake sale worth about Rs50,000 crore (at current prices) in about 20 companies.This disinvestment will happen keeping in mind market conditions as govt has Rs41,000-crore target for stake sale in PSUs in FY16.The PSUs in the pipeline include ONGC, Dredging Corporation, Power Finance Corp, NMDC, NTPC, Nalco, BHEL, MMTC, National Fertilizers, Rashtriya Chemicals and Fertilizers

Syndicate Bank approves Rs2000 crore equity capital raising
Syndicate Bank’s Board has approved to raise equity capital of Rs2,000 crore including to be decided as per the guidelines by way of  QIP/Rights Issue /FPO / at an appropriate time. Since, this is just an enabling resolution it is neutral for the stock.

IDBI Bank to unveil e-huts to connect with rural public
Government-owned IDBI Bank has planned to launch e-huts with the aim to connect with the rural public, according to a bank official. According to the report, e-hut concept will be completely unmanned units which will help the customer understand technology. The e-huts will be located at a relatively populated place.

Lupin gets USFDA approval for Azithromycin tablets
Lupin has got USFDA approval to market Azithromycin Tablets.  Azithromycin is an antibiotic used to treat many different types of infections caused by bacteria.
Although, the market size of the drug is not immediately known, the development is positive for Lupin.

Wipro announces partnership with Activestate
Wipro announced a partnership to deliver cloud technologies and services to enterprises across the globe. Activestate is the creator of Stackato Private Platform-as-a-Service (PaaS), the world's leading independent distribution of the Cloud Foundry open source project. This partnership brings together the cloud implementation expertise of Wipro with the cutting edge technology of Stackato, enabling agile enterprises to innovate faster than ever before.

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