Government moves to protect banks’ exposure in highways
The government is set to incorporate a number of changes in contract conditions which will significantly reduce the risk on loans given to highway projects becoming NPA. The amendments that have been cleared include lenders getting 'stepping right' in projects where they find huge difference between physical progress compared to the amount of loan they have released.
L&T terminal likely to be taken over by Adani group
Adani Group is in the final stage of getting into an arrangement with L&T to take over the operational and management control of Kattupalli International Container Terminal near Chennai.
The terminal was built at a cost of Rs 4,000 crore and this deal is as part of L&T’s strategy to unlock value from non-core assets. The container terminal currently has two container berths and it handles 1,200 containers per month and got three regular services. The deal would be value unlocking for L&T.
LUPIN: Brazil Suspends Import of Antibiotic Ingredients
Brazilian drug regulator ANVISA has suspended import of active ingredients, used to make antibiotics, produced by pharmaceuticals major Lupin citing 'unsatisfactory inputs' and deviation from good manufacturing practices (GMP). However, ANVISA don’t have concerns with Lupin using another plant at the same location to continue supply of antibiotics. Company expect clearance from ANVISA to resume supply by September. Brazil contribute around 1% of the total revenue for the company.
Delhi HC asks Centre to resume gas supply to Deepak fertiliser
Delhi HC asks Centre to resume gas supply to Deepak fertiliser which was disconnected in May 2014. Delhi High Court has ask government to implement policy uniformly without discrimination. Positive for the company.
Tata Comm to expand its network presence in India
Tata Communications announced that Orange Business Services has entered into an agreement with Tata Communications to expand its network footprint in India. The Network-to- Network Inter connet (NNI) agreement is part of a strategic partnership between the two companies and will increase Orange domestic coverage ten-fold to over 120 cities to meet customer demand.
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