Tata Motors has launched its global range of Tata Prima trucks in the Sri Lankan market along with its partner, Diesel & Motor Engineering PLC. The Tata Prima range is the most technologically advanced offering in the medium and heavy commercial vehicles segment, from Tata Motors. The models introduced in Sri Lanka are the Tata PRIMA 4023 LX ( 4X2), Tata PRIMA 4923 LX (6X4), Tata PRIMA 4028 ( 4X2), Tata PRIMA 4938 (6X4), Tata PRIMA 4038 (4X2) and the Tata PRIMA 4928 (6X4), which are primarily targeted at container movement, cement transportation & the gas logistics across the island.
According to Mr. Ravindra Pisharody, Executive Director, Commercial Vehicles Business Unit, Tata Motors, "The Tata PRIMA range is an output of collaboration across the Tata Motors family, supplemented by inputs from partners across the world. The revamped infrastructure in Sri Lanka makes it possible for transporters to reap the benefit of the Tata PRIMA trucks with higher power, speed and carrying capacity. This new range from Tata Motors will meet the changing needs in the Sri Lankan market."
Adani Power said after market hours on Wednesday, 3 April 2013 that it had filed a petition with CERC to review the tariff in the Power Purchase Agreement (PPA) with Govt. utilities of Gujarat and Haryana. CERC has issued an order, by virtue of the power vested to the Hon. Commission and the statutory responsibility to balance the interest of the consumers and the project developers, while regulating the tariffs of the generating companies. Hon. Commission has therefore seen a need to direct the parties to set down a consultative process to find out an acceptable solution in the form of compensatory tariff over and above the tariff decided under the PPAs to mitigate the hardship arising out of absence of full domestic coal linkage and the need to import coal at benchmark price on account of Indonesian Regulation.
As per the order of the Hon. Commission, the stakeholders viz. the Petitioners, Respondents and the respective State Govts. have been directed to constitute a Committee within one week. Further, the Committee has been directed to go into the impact of the price escalation and suggest a package for compensatory tariff which can be allowed to the Petitioner over and above the tariff in the PPAs. The Committee is required to provide its recommendations keeping certain parameters in consideration, by 30 April 2013, the company said in a statement.
The Order by Hon. Commission clearly affirms the need for adequate return on the investment made which would improve the quality and supply of electricity to the consumers. Thus the Hon. Commission has achieved the twin objective of contribution to consumer interest and recovery of cost of services provided by the generating Companies. The order passed by the Hon. Commission is in line with its responsibility to intervene in the matter in the interest of the consumers, investments and the power sector as a whole, Adani Power said.
Colgate-Palmolive (India) turns ex-dividend today, 4 April 2013, for interim dividend of Rs 9 per share for the year ended 31 March 2013.
GlaxoSmithkline Pharmaceuticals turns ex-dividend today, 4 April 2013, for dividend of Rs 50 per share for the year ended 31 December 2012.
Claris Lifesciences turns ex-dividend today, 4 April 2013, for dividend of Rs 2 per share for the year ended 31 December 2012.
MT Educare has entered into shareholders' agreement dated 1 April 2013 with 'Lakshya' and its shareholders with respect to acquire 51% stake in Lakshya Forum for Competitions (Lakshya), a leading North India based IIT Entrance teaching institute. Further, the company has informed that 'Lakshya' holds 10% stake in Lakshya Educare (subsidiary of MT Educare) a Special Purpose Vehicle (SPV) created for the purpose of launching JEE advanced coaching services in Mumbai and rest of India. MT Educare holds 90% stake in this SPV.
FDC said it bought back 20.87 lakh equity shares upto 31 March 2013 for an aggregate consideration of Rs 19.33 crore, being 38.67% of the maximum buyback offer size of Rs 50 crore.
Great Eastern Shipping Company (G E Shipping) delivered its 1988 built General Purpose (GP) product carrier "Jag Parwar" (about 29,900 deadweight tonnage) to the buyers. With the delivery of this vessel, the company's current fleet stands at 31 vessels, comprising 22 tankers (9 crude carriers, 1 2 product carriers, 1 LPG carrier) and 9 dry bulk carriers (1 Capesize, 3 Kamsarmax, 4 Supramax, 1 Handymax) with an average age of9.6 years aggregating 2.50 million deadweight tonnage.
Persistent Systems will open a new facility in Bengaluru, in line with its ongoing expansion strategy and strengthening its existing footprint in the Indian IT market.
Powered by Capital Market - Live News
