TOP CORPORATE NEWS-20 FEB

TOP CORPORATE NEWS

·        RIL plans to raise over $1 bn through export credit

                                                                                        

Reliance Industries is in talks with four or five export credit agencies to raise over $1 bn (Rs 6,220 crore) in the next four months. This move is a part of the company’s plan to raise $13 bn debt to fund expansion of its petrochemical production capacity and gasification project.

·        TCS gains after Diageo deal

TCS rose 0.45% after the company said that Diageo, the world's leading premium drinks business, has selected TCS as its new global IT provider.

·        Thomas Cook Q4 net profit up 52% to Rs 13.1 cr

Thomas Cook's fourth quarter (October-December) consolidated net profit grew 52 percent to Rs 13.1 crore compared to same quarter last year on account of higher revenues. Total income from operations jumped 4.8 times to Rs 465.6 crore from Rs 97.7 crore during the same period.

·        CCEA approves setting up of coal regulator

                                                    

The Cabinet Committee on Economic Affairs has approved the setting up of a coal regulator that was first tabled in December 2013. While there is no clarity on the timeline of when this execution order will be released, but since the cabinet has approved the setting up, it will happen in the next couple of weeks because the general election announcements should be out any moment now.