RBI releases discussion paper on reducing large corporate exposures
RBI has proposed to lower the ceiling on how much a bank can lend to a single corporate group, in a move to curb risks in the banking sector at a time when bad loans are on the rise. Under the proposal, banks would only be allowed to lend up to 25% of their core capital, down from the earlier ceiling of up to 55%, starting Jan. 1, 2019.
Transformers jumps on winning Rs440 crore order
Shares of Transformers and Rectifiers (India) soared 20% to Rs200.20 on the NSE after the company announced that it has received export order amounting of Rs440 crore.The stock opened at Rs168 and hit a high of Rs200.20 on the NSE. With this order, company’s order book as on date stands around Rs 800 crore, Transformers and Rectifiers (India), a leading manufacturer of transformers said in a BSE filing.
BHEL surges after securing contract from TSGENCO
Bharat Heavy Electricals Ltd ( BHEL) rose over 2%, touching to Rs237.8, after the company bagged contract for 1080 megawatts Manuguru thermal power project from Telangana State Power Generation Corporation. The newly formed Telangana state utility, Telangana State Power Generation Corporation (TSGENCO) has awarded Bharat Heavy Electricals ( BHEL) with an EPC (engineering, procurement & construction) order for setting up a 4x270 MW (megawatts) thermal power plant, valued at over Rs5000 crore in the Telangana state.
Honda to make investments to increase capacity in India
Honda Motorcycles & Scooter India ( HMSI) will be investing Rs585 crore to increase the two wheeler production capacity at Narsapura, Karnataka. The capacity at the plant would be increased from 18 lakh to 24 lakh units per year. Similarly, Honda Cars would be investing Rs380 crore to increase capacity at Tapukara plant from 1.2 lakh units to 1.8 lakh units per annum. Both the enhanced capacities are expected to be on stream in 2016. The capacity increase at Narsapura is positive for Gabriel India and Suprajit Engineering which supply to this plant. Infosys offers 15-20% wage hikes for top performers
As per media news, Infosys is set to give a 15-20% salary hike to top performers a move to retain high performers and curb attrition. (Currently highest among the top 4 IT companies).
Infosys identifies top performers across onshore & offshore centers. This the highest compensation hike given by Infy to high performers in 4 years.
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