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Government may do away with blanket exemption for industrial corridors
Government may do away with blanket exemption for industrial corridors – Negative for construction sector players like L&T, HCC, Gayatri Projects, Pratibha Industries among others

As per media reports, the government could do away with the provision that allows industrial corridors to acquire up to one kilometre of land on either side of a designated railway line or road without being subject to the onerous requirements of social impact assessment, limits on acquiring multi-cropped land and consent provisions.

Bank of Baroda reduces base rate to 9.90%
Bank of Baroda has decided to reduce Base Rate by 10 basis points from 10.00% to 9.90% and also to reduce Bench-mark Prime Lending Rate ( BPLR) by 10 basis points from 14.25% to 14.15%. The reduction in both rates will be effective from July 13, 2015

RIL receives net proceeds of $528 million in first tranche
Reliance Industries announced that its subsidiary, Reliance Holding USA, Inc. has closed the sale of its interest in EFS Midstream LLC ( EFS) to an affiliate of Enterprise Product Partners L.P.                The transaction closed on July 08, 2015 with the effective date for the transaction being July 01, 2015. Under the terms of the definitive agreements, Reliance received gross cash consideration of $574 million towards first tranche of sale proceeds.

JK Paper gets upgrade for Long-term Issuer Rating
JK Paper announced that India Ratings & Research, a Fitch Group Company, has upgraded JK Paper's Long-term Issuer Rating to “IND BBB+” from “IND BBB”. The Outlook is Positive.

Caplin Point gains on receiving EU GMP approval
Caplin Point Laboratories' shares surged nearly 5%, touching to Rs1033, after the company received EU GMP approval for its small volume sterile injectable liquids facility in Chennai. Caplin Point Laboratories said the site was inspected by the EU authorities in March 2015 and has been certified as complaint with the guidelines stated in Art. 111 (5) of directive 2001/83/EC. The facility is capable of manufacturing liquid injectables in vials, ampoules, lyophilized vials and ophthalmic dosages.

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