TOP CORPORATE NEWS:- 7 June 2017

Corporate News

TOP Headlines Of The Day:- 7 June 2017

RBI maintains status quo
Airtel-Telenor India merger gets CCI nod
Siemens and TCS join forces for Industrial IoT on MindSphere
Oil India makes hydrocarbon discovery in Assam Basin
CEAT aims to achieve leadership position in 2W tyre segment
ICICI Bank approves stake sale ICICI Lombard via IPO

RBI maintains status quo
Reserve Bank of India (RBI) has come out with its monetary policy and has maintained status quo on the key interest rates i.e. Repo rate @ 6.25% and
reverse repo rate @ 6.00%.
The SLR, however, has been reduced by 50BPS to 20%.
RBI has reduced the risk weights on the certain categories of home loans. The Inflation forecast has been reduced indicating a dovish stand.

Airtel-Telenor India merger gets CCI nod
Fair trade regulator, the Competition Commission of India (CCI) has approved the merger of the Indian arm of Norwegian telecom operator Telenor with
Bharti Airtel.
Last week, the country’s largest telecom operator had got approval from the capital markets regulator Sebi and the stock exchanges – BSE and NSE –
on the proposed scheme of the merger between Airtel and Telenor (India) Communications.

Siemens and TCS join forces for Industrial IoT on MindSphere
TCS and Siemens unveiled a new collaboration around Internet of Things (IoT) innovation.
Focused on customers in the manufacturing, energy, building technology, healthcare and railway industries the partnership will enable customers to
benefit from new data insights and services based on MindSphere, the cloud-based, open IoT operating system from Siemens.

Oil India makes hydrocarbon discovery in Assam Basin
Oil India Limited (OIL) has made a hydrocarbon discovery in Baghjan petroleum mining lease in the Upper Assam Basin in May-2017.
The company plans to further appraisal of the discovery to enhance the oil & gas production through appraisal and development activities.
The reserves and production profile for the discovery has not been disclosed as it in appraisal phase currently – sentimentally positive for OIL.

CEAT aims to achieve leadership position in 2W tyre segment
CEAT aims to achieve a leadership position in 2 wheeler tyre segment; to consolidate its position in passenger car Tyre segment in the near term.
Ceat aims to achieve incremental market share and targets for a leadership position in the two-wheeler tyre segment. Also the company plans to
consolidate its position in the passenger car radial tyres in the near term.
Currently Ceat is the second largest player in the motorcycle tyre segment (replacement market) with about 30% market share, next only to leader
MRF.
Ceat has been consistently outpacing the industry growth in the two-wheeler tyre segment in the past 4-5 years and expects to further strengthen the
growth momentum on the back of wide product range and higher spend on consumer communication.

ICICI Bank approves stake sale ICICI Lombard via IPO
ICICI Bank: The ICICI Bank management has approved the stake sale in its general insurance venture ICICI Lombard General Insurance through an

initial public offering (IPO).
The size and other details of the offer would be determined later– Positive Read thru for ICICI Bank.

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