United Bank of India plans to issue additional Tier 1 bonds
United Bank of India announced that the Bank proposes to issue and allot through private placement rated, unsecured, non-convertible, perpetual, listed BASEL-III compliant Additional Tier-1 Bonds of Face Value of Rs10.00 lac per bond aggregating up to Rs200 crore including oversubscription. The issue is proposed to open on September 23, 2015 and close on September 28, 2015.
Infosys wins Rs1,380 crore contract to build GST technology network
The Government has awarded a contract worth Rs1,380 crore to Infosys Ltd to build and maintain the technology network crucial for implementing the proposed goods and services tax ( GST) system across the country for five years. The government had created a company called GST Network ( GSTN) to provide the technology backbone to introduce GST and connect the databases of states and the centre.The information technology (IT) system will allow taxpayers to register themselves using their permanent account numbers and file tax returns, as well as process payments online.
Bombay HC approves TCS, CMC amalgamation
Bombay High court has approved the amalgamation of CMC Limited with Tata Consultancy Services. TCS has informed BSE that the High Court of judicature at Bombay has sanctioned the Scheme of Amalgamation between CMC Limited and Tata Consultancy Services Limited on August 14, 2015 with respect to petition filed by TCS.
Government mulls Axis Bank-like makeover of IDBI Bank
The central government is considering several proposals to ease discom issue which includes proposal of discom loans be converted into state government loans or state bonds. While details of the proposal are to be worked out, the payment of dues from state’s budget will ease the pressure and conversion to state securities will facilitate SLR ratio of banks.
Hero MotoCorp to launch new scooter on September 29
Hero MotoCorp to launch its new scooter on September 29; positive for the company.Hero MotoCorp will be launching a new scooter on September 29. The scooter to be launched would be either the Hero Duet or the Maestro Edge. Hero MotoCorp is scheduled to launch two new scoters before the festive season to increase presence in the fast growing scooter segment and pose a challenge to market leader Honda Motorcycle & Scooters Ltd (HMSI).
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