• Bharti Airtel up after commencing 4G trials in Chennai
Shares of Bharti Airtel rose over 2%, touching to Rs394.5, after it decided to commence 4G services trials for its existing customers located in Chennai, according to media reports.
The customers belonging to the city can avail a complimentary upgrade to Airtel 4G at 3G prices to experience Airtel 4G speed.
• Reliance Jio to source devices from China
Reliance Jio aims to roll out India’s first national 4G LTE service in the coming months. Reliance Jio is in negotiations with smart phone vendors in China — Gionee, Huawei and Xiaomi; to source phones that could be sold in 4G data packages at $30.
• KNR Constructions bags order worth Rs 669 cr
KNR Constructions Limited has bagged an order worth Rs669 crores towards “4 laning of Kazhakkottam to Mukkola Section from Km. 0.0 to Km 26.5 of NH-47 in the State of Kerala under NHDP Phase-III on EPC mode to be completed within a period of 24 months from the appointed date.
• Power Grid to invest over Rs1000 cr; + for Power Grid
Power Grid Corporation of India will invest over Rs1000 cr. in the next few years for execution of two projects including creating transmission network in Anantpur district of Andhra Pradesh.
• NTPC to buy 15,000 MW of solar power; + for NTPC
NTPC will call for bids from solar project developers for buying 15,000 megawatts (MW) on behalf of the ministry of new and renewable energy (MNRE). This is in addition to NTPC’s plans to set up 10,000 MW of solar power capacity on its own.
• Strides Arcolab gets ANDA approval
Strides Arcolab announced that it has received approval from the United States Food & Drug Administration (USFDA) for Lamivudine and Zidovudine Tablets USP, 150 mg/300 mg.The product will be manufactured at the Company's Oral Dosage facility in Bangalore and marketed by Strides in the US market. The product will be launched in the markets immediately.According to IMS data, the US market for Lamivudine and Zidovudine Tablets is approximately USD 120 million.
• Tata Motors to expand dealership network to small towns; + for company
According to reports, Tata Motors is planning a significant expansion of its distribution network so as to tap demand in small towns. The company plans to expand presence from 359 districts presently to 651 districts over the next few years. The company also plans to continue sales of older models such as Indica and Indigo in addition to the new generation vehicles such as Zest and Bolt.
• NPA situation may not have peaked: RBI governor Dr Rajan
RBI Governor Dr Rajan has said that India's banking system may not yet have seen the peak in bad loans. He also added that the RBI was working with lenders to recognise and resolve these non-performing assets. The general industry trends and RBIs statement suggests that concerns may persist on PSU banks asset quality and hence we remain very selective in PSU Banks space (SBI, BOB, Union Bank etc)
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