Punj Lloyd plans to invest Rs2,000 crore in Gwalior unit
Punj Lloyd – As per media reports, the company plans to invest Rs2,000 crore to expand Gwalior manufacturing unit. The development is positive for Punj Lloyd.
TVS Motor August 2015 dispatch volumes up 0.9% YoY
TVS Motor August 2015 dispatch volumes up a modest 0.9% YoY to 227,653 units; in-line with estimates. TVS Motor reported a 0.9% YoY growth in overall volumes for August 2015 to 227,653 units.
The motorcycle segment volumes were up by 4.6% YoY to 87,044 units. The scooter volumes rose by 10.0% YoY to 72,865 units. Moped volumes were down 14.2% YoY to 56,872 units.
Nucleus Software partners with Magnum FinCorp
Nucleus Software Exports announced that Magnum FinCorp will implement Nucleus Software's recently launched flagship lending product, FinnOne Neo, for its loan origination and loan management operations.
Govt accepts AP Shah panel report on MAT
The government has accepted recommendation of a high level panel that minimum alternate tax (MAT) should not be imposed on overseas portfolio investors retrospectively (capital gain made by FIIs prior to 1 April 2015, on 25 August). The discrepancy had arisen when Authority for Advance Rulings (AAR) held that Section 115JB was applicable to foreign companies, even if they have no Permanent Establishment or place of business in India.
Crompton Greaves wins order from Korea
Crompton Greaves won orders from Korea electric power corp for 365 kV and 154 kV capacitive voltage transformer to upgrade Korea’s transmission network with latest polymeric technology. The value of the order is not disclosed in the announcement.