Tata Steel said after market hours yesterday, 10 June 2015, that Tata Steel UK, indirect subsidiary of Tata Steel has been now notified by the four unions namely Community Union, Unite, GMB and Ucatt of their plans to take industrial action in dispute over the company's proposals to revise the British Steel Pensions Scheme's contribution and benefits framework.
As per the notice, the Unions in UK propose a UK wide ban on overtime working and work to rule commencing 16 June 2015 and additionally strike action at most of the UK operating units on 22 June 2015.
The company said Tata Steel Europe has strategies and actions to manage disruption of business and minimise customer and financial impact.
BEML announced after market hours yesterday, 10 June 2015, that it has received order worth Rs 645 crore from Delhi Metro Rail Corporation (DMRC) for design, manufacture, supply testing and commissioning of 74 no's broad guage Metro Cars for their RS-13 project (Rolling Stock). In this regard, H S Anand, Director (Rolling stock) Delhi Metro Rail Corporation signed an Contract Agreement with BEML for supply of Metro Coaches.
BEML has forayed into manufacture and supply of Metro Cars during 2002 and is the reliable Make in India partner in Metro Rolling Stock, having supplied so far more than 600 Metro Cars to Delhi Metro. BEML has already supplied 150 Metro Cars to Bangalore Metro for their Phase I. BEML is also the rolling stock supplier to the Jaipur Metro project and supplied 40 Cars, the revenue operations of which have commenced recently.
With this, BEML emerged as the preferred Metro Coach manufacturer in the country to encash emerging opportunities in the Metro segment.
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With respect to news article titled "Odisha govt threatens to take back 26 acre Wipro land on work delay", Wipro clarified after market hours yesterday, 10 June 2015, that the company remains committed to its investment and to grow in the city of Bhubhaneshwar.
Axis Bank will be in focus after the Ministry of Urban Development after trading hours yesterday, 10 June 2015, announced that Axis Bank has decided to issue co-branded cards to the users of Kochi Metro for paying the fares. Axis Bank will issue co-branded cards to the users of Kochi Metro for paying the fares as well as using them for all kinds of merchandise including e-commerce, according to a statement from the Ministry of Urban Development. Axis Bank will install the required complex hardware and software for fare collection from passengers and in addition will pay Kochi Metro Rail (KMRL) a sum of Rs 208 crore over the next 10 years besides undertaking the entire maintenance of Automated Fare Collection (AFC) for ten years. KMRL will also be paid 0.2% of Axis Bank's gross revenues from the utlilisation of co-branded pre-paid cards outside Kochi Metro system. Axis Bank has formed a consortium of service providers and will soon start work on installing AFC system. KMRL is undertaking the metro rail project in Kochi, Kerala. Of the project length of 25.612 kms, 18 km is scheduled to be commissioned by June 2016 and the rest by June 2017.
Bhushan Steel will be watched. With respect to news titled, "2 Bhushan Steel VPs held guilty," clarified after market hours yesterday, 10 June 2015, that on 9 June 2015, seven (7) cases were listed for hearing before the court of Chief Judicial Magistrate, Dhenkanal under the Factories Act, 1948. These cases were taken up on applications as were moved by the concerned officials before the Court. The Court after hearing the parties has been pleased to dispose off these seven (7) matters with a direction to pay fine of Rs 1 lakh for each of the officials in each case and on failure to do so, to undergo imprisonment of one (1) year. The fines as directed by the Court have been deposited and consequently the matters stand closed, the company said.
Engineers India announced after market hours yesterday, 10 June 2015, that its Abu Dhabi office has till date in the current year secured orders worth Rs 150 crore from clients in Middle East. These orders are from the oil and gas companies as well as through EPC contractors for providing engineering services. The company has expanded its office in Abu Dhabi to cater to its clients in the region. The office has state of art facilities and has been well appreciated by the clients, the company added.
IVRCL will be watched. With reference to news item titled, "IVRCL, Royal Smals ink pact for water projects in India, abroad," IVRCL clarified after market hours yesterday, 10 June 2015, that it is a fact that it has signed an Memorandum Of Understanding with Royal Smils, a Netherlands company, to collaborate in lake rejuvenation and water projects in India and other countries, in connection with the visit of Prime Minister of Netherlands, and media coverage has been made in connection there with. Signing of letters of agreements/Undertakings/Joint Venture Agreements for prospective bidding is a routine business development activity for us in infrastructure sector. The IVRCL-Royal Smals signing is one such understanding for a potential bidding.
Sequent Scientific announced after market hours yesterday, 10 June 2015, that its board has allotted 8 lakh equity shares at Rs 222.15 per share and 2 lakh equity shares at Rs 236 per share to Chayadeep Ventures LLP, a promoter group entity and 11 lakh equity shares at Rs 475 per share to Shivanand Shankar Mankekar HUF jointly with Kedar Shivanand Mankekar, a non-promoter pursuant to conversion of equivalent number of warrants. Consequent to the allotment, the paid up equity share capital of the company has increased from Rs 39.16 crore consisting of 3.91 crore equity shares of Rs 10 each to Rs 41.26 crore consisting of 4.12 crore equity shares of Rs 10 each.
Goodyear India turns ex-dividend today, 11 June 2015, for a dividend of Rs 10 per share for the year ended 31 December 2014.
MindTree turns ex-dividend today, 11 June 2015, for a final dividend of Rs 10 per share for the year ended 31 March 2015.
Torrent Power turns ex-dividend today, 11 June 2015, for a dividend of Rs 1.50 per share for the year ended 31 March 2015.
Videocon Industries turns ex-dividend today, 11 June 2015, for a dividend of Rs 2 per share for the year ended 31 March 2015.
IOL Chemicals & Pharmaceuticals announced after market hours yesterday, 10 June 2015, that the allotment committee of the board has allotted 5 lakh equity shares of Rs 10 each to Innova Marchantiles, Non-Promoter on the exercise of option attached with the warrants allotted on 4 July 2014 and the said shares shall be remain locked in for a period of one year from the date of trading approval. Consequent upon the issue of the above 5 lakh equity shares, the total paid-up capital of the company stands increased to 4.91 crore fully paid equity shares of Rs 10 each.
Vascon Engineers said after market hours yesterday, 10 June 2015, that a meeting of the board of directors of the company will be held on 13 June 2015, to consider and approve the details of the proposed rights issue including the rights issue structure, rights issue price, rights issue entitlement ratio, rights issue fractional entitlement and a date of book closure / record date for issuance of the securities to the existing shareholders of the company.
Orient Green Power Company said after market hours yesterday, 10 June 2015, that a meeting of the board of directors of the company will be held on 13 June 2015, to discuss the proposal of merger of one of the wholly owned subsidiaries with itself and the demerger of biomass business of the company to another entity.
National Buildings Construction Corporation said after market hours yesterday, 10 June 2015, that Government of India is intending to develop smart cities and Redevelopment of existing cities including improvement of Quality of civic amenities. To contribute to the objectives of GOI, NBCC is currently working on re-development of various scheme(s) in the capital.
Further, NBCC has formed strategic partnership by executing Memorandum of Business Exploration on 10 June 2015 with Malaysian Joint Venture Company China Railway Engineering Corporation (M) Sdn Bhd & Amona Group for exploring further areas of Re-development around New Delhi Railway Station.
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