TOP CORPORATE NEWS
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Fin Tech jumps 5% as Tech Mah,
L&T Infotech eye stake in co
Shares of Financial Technologies are locked at 5 percent upper
circuit on buzz that Tech Mahindra and L&T Infotech are eyeing stake in
the company. Financial Technologies is in talks with
investors for out of court settlement and may pay more than Rs 1,100 crore to
investors.
·
Coal India units to increase
output in FY15
Coal India unit Western Coalfields expects to increase its
production by 10% to 44 million tonnes in the next fiscal year. In the Interim
Budget, Finance Minister P Chidambaram said that India’s coal production
seen at 554 million tonne.
·
Hero Motocorp falls 1% on price
cut of up to Rs 4,500
Shares of Hero MotoCorp fell over 1 percent as the auto major
slashed price rates by up to Rs 4,500. Following excise duty cut announced by
Finance Minsiter P Chidambaram in the Vote on Account 2014-15, both Honda
Motorcycle & Scooter India (HMSI) and Hero MotoCorp reduced product prices.
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Canara Bank plans to sell NPAs of
Rs10bn
Canara Bank is planing to sell its non-performing assets or bad
loans worth Rs. 10 billion by the end of this financial year. Gross NPAs of the bank, at the end of third quarter ending
December 31, 2013, were Rs. 80.73 billion as against Rs. 60.90 billion in the
same period last year. The gross NPA ratio stood at 2.79
per cent compared with 2.77 last year
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