Tata Motors announced that it has signed a contract to supply 25 Tata Starbus Diesel Series hybrid electric buses with the Mumbai Metropolitan Region Development Authority (MMRDA). This is the single largest order awarded for hybrid electric vehicle technology. The announcement was made after trading hours yesterday, 16 March 2016.
Shares of public sector oil marketing companies (PSU OMCs) will be in spotlight after Indian Oil Corporation (IOCL) yesterday, 16 March 2016, announced an increase in the price of petrol and diesel with effect from the midnight of 16/17 March 2016. Petrol price was hiked by Rs 3.07 per litre and diesel price was raised by Rs 1.90 a litre at Delhi (including state levies) with corresponding price revision in other states. After the latest revision, petrol in Delhi costs Rs 59.68 per litre and diesel costs Rs 48.33 a litre.
Shares of oil exploration & production (E&P) firms, PSU OMCs and aviation firms will be watched after a sharp jump in international crude oil prices yesterday, 16 March 2016. Brent for May settlement was currently up 31 cents at $40.64 a barrel. The contract had jumped $1.59 a barrel or 4.1% to settle at $40.33 a barrel during the previous trading session.
TCS announced the successful launch of Norway's first peer-to-peer mobile payment solution with DNB, the largest financial services group in Norway. With 25% of Norway's population using DNB's peer-to-peer mobile payments application 'Vipps' within six months of launch, the P2P payment solution has helped DNB become a significant player in the highly competitive mobile payments space in a short space of time. The announcement was made after trading hours yesterday, 16 March 2016.
Wipro announced the launch of cargo reservations, operations, accounting and management information systems (CROAMIS), a next gen end-to-end cargo management system for the aviation industry. CROAMIS has been developed jointly between Wipro and Qatar Airways, through an innovative co-funded model. The announcement was made after trading hours yesterday, 16 March 2016.
Idea Cellular and Videocon Telecommunications mutually agreed to terminate their earlier agreement regarding 'Transfer of Right to Use 1800 MHz Spectrum' in two service areas with immediate effect. The announcement was made before market hours today, 17 March 2016. On 24 November 2015, the Board of Directors of Idea had empowered the company to enter into an acquisition agreement for right to use 1800 MHz spectrum of Videocon Telecommunications (VTL), in the telecom service areas of Gujarat and UP (West) for an aggregate consideration of around Rs 3310 crore, pursuant to the Department of Telecommunications (DoT) Guidelines for Trading of Access Spectrum by Access Service Providers dated 12 October 2015. No joint intimation of this Transfer Agreement for Right to Use Spectrum under Spectrum Trading Guidelines was filed with DoT, by the parties. Also, there is no cost implication to Idea on termination of the agreement.
Meanwhile, Idea Cellular continues to aggressively launch its high speed mobile broadband 4G LTE services. Idea has launched its 4G LTE services in the tenth telecom service area of Maharashtra & Goa, from Nagpur city. The company remains on track to launch 4G LTE services in 750 key towns across 10 telecom circles latest by end of June 2016.
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Shriram Transport Finance Company said that it is considering raising funds by issuing secured redeemable non-convertible debentures (NCDs) on private placement of basis. Based on the market conditions the meeting of banking and finance committee will be held during the current month ending 31 March 2016 to consider and approve the terms of such borrowings. The announcement was made after trading hours yesterday, 16 March 2016.
Gammon India said that the securities allotment committee of directors allotted 63.62 lakh equity shares at Rs 11.89 each, aggregating to Rs 7.56 crore, to the company's corporate debt restructuring (CDR) lender, United Bank of India, on conversion of part of its outstanding loan and interest into equity shares of the company. With this allotment, the CDR lenders collectively hold 62.65% of the total equity capital of the company. The announcement was made after trading hours yesterday, 16 March 2016.
IRB Infrastructure Developers said that it received an approval from the Securities and Exchange Board of India (Sebi) for formation of infrastructure investment trust (InvIT). Sebi has granted the certificate of registration to IRB InvIT Fund to which IRB Infrastructure Developers is a sponsor, to carry out the activities as an InvIT subject to the conditions. The announcement was made after trading hours yesterday, 16 March 2016.
VST Tillers Tractors said it signed memorandum of understanding (MoU) with Karnataka Government for establishment of 92 custom hire service centres (CHSC) in nine districts. These CHSCs will provide farm machinery at affordable rental rates to farmers. The hiring and service charges will be determined by the committe constituted for the purpose after taking into consideration farmer's affordability and economic feasibility of the CHSC. The announcement was made after trading hours yesterday, 16 March 2016.
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