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Friday, June 19, 2015

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GAIL signs MoU with SDMC
Gail (India) has announced that GAIL has signed a Memorandum of Understanding ( MoU) with South Delhi Municipal Corporation ( SDMC) to voluntarily provide civic Services such as sweeping, cleaning and upkeep in Bhikaiji Cama Place where the GAIL corporate Office is located. The MoU was signed by Shri C Uday Kumar, Dy. Commissioner, SDMC and Shri Amit Ray, Executive Director (HR & HRD), GAIL in the presence of senior officials of SDMC and GAIL

Infosys allots equity shares under 1:1 bonus issue
Infosys announced that the Board of Directors allotted 114,84,72,332 equity shares each aggregating Rs. 574.23 crore issued by capitalization of general reserve / securities premium and distributed as fully paid-up bonus shares in the ratio of 1 (one) equity share for every 1 equity share held to those shareholders whose names appear on the Register of Members / Register of Beneficiaries as at the closing of June 16, 2015.
                                                                                     
Intellect Design to manage its Indian treasury management operations
Intellect Design Arena announced that Bank of Ceylon has chosen its One Treasury Solution to drive end-to-end treasury management for their Indian operations. This is the first foreign bank in India to choose Intellect's One Treasury solution to deliver front-mid-back office functionality for its Indian operations. The fast-track deployment, of five months, is expected to go live in last week of June, 2015.

Yes Bank cuts Base Rate by 25 bps to 10.50%
Yes Bank has cut its Base Rate by 25 basis points from 10.75% p.a. to 10.50% p.a. The revised rates will be effective from June 22, 2015. The reduction is a consequence of the recent term deposit rate cuts of upto 25 Basis Points carried out by the Bank across various tenors which were made effective from June 17, 2015.

Insilco board decides to use Coal Fired Hot Air Unit
Insilco announced that the Board of Directors has passed a resolution through Circulation on 18 June 2015 for using Coal Fired Hot Air Unit during its manufacturing process. The same will result into significant cost saving in the area of energy consumption.

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