• HCC surges on fund raising plan
Hindustan Construction Company (HCC) rose over 7%, touching to Rs26.15, on reports that company is planning to raise up to Rs1000 crore or equivalent in any foreign currency through available financial instruments. The funds will be utilised in meeting long-term working capital and capital expenditure requirements of the company and subsidiaries, joint ventures and affiliates.
• Axis Bank introduces secure+ debit card
Private-sector lender, Axis Bank said that it has launched a Secure+ debit card with security features that allow customers to adjust limits and switch off card usage when not required, as per reports.
The card can be switched off by using a mobile phone application or Internet banking gateway or through the phone-banking application. At Rs300 per year, it will cost a customer twice as much as a regular debit card offering.
• Gujarat HC approves Rishiroop Rubber-Puneet Resins Amalgamation
Rishiroop Rubber International Ltd has informed that the Hon’ble High Court of Gujarat has on June 23, 2015 orally pronounced an Order, approving the Scheme of Amalgamation with Puneet Resins Limited of the Company, under Sections 391 to 394, read with applicable provisions of the companies act, 1956 (to the extent applicable provisions of the Companies act, 2013.
• Rajan says rates cut are possible in case monsoon is normal
RBI governor Dr Rajan has said that rates cut are possible in case monsoon is normal. Since earlier monsoon trends are favorable it is sentimentally positive for Banks (PSU Banks) from rate cuts and economic recovery perspective.
• NTPC to spend Rs1,000 crore on research and development
NTPC to spend Rs1,000 crore on research and development in 6 years – Positive for NTPC & BHEL. NTPC has embarked on a near Rs1,000 crore research and development exercise that will involve groundbreaking work in areas of new and renewable energy, waste management, efficiency improvement and cost reduction.
