Strike at Bajaj Auto Chakan plant
KOLKATA, 25 JUNE: Bajaj Auto today said that its employees working at Chakan plant have stopped reporting to duty from today, thereby affecting production, as the management of the company refused to accept their demand for Bajaj Auto shares allotment at a discount."The workmen have stopped coming to the Chakan plant from 25 June… without assigning any reason…," the company said in a filing to the Bombay Stock Exchange.
The company, however, informed that it had received a notice from the workmen’s union of its Chakan plant stating that they propose to stop work in the Chakan plant from the morning shift of 28 June 2013. sns
RBI curb on RRBs
MUMBAI, 25 JUNE: The Reserve Bank of India today tightened norms for lending against gold coins as well as units of gold exchange-traded funds (ETFs) and mutual funds (MFs) by regional rural banks (RRBs) with an aim to curb demand for the precious metal. pti
Ranbaxy case
NEW DELHI, 25 JUNE: The Supreme Court today dismissed a PIL seeking a probe against Ranbaxy Laboratories Ltd for allegedly manufacturing and selling substandard medicines due to lack of evidence against the company. pti
Gift expo in Tokyo
NEW DELHI, 25 JUNE: The Export Promotion Council for Handicrafts is participating in the three-day Giftex World 2013 ~ 8th international variety gift expo in Tokyo from 26 to 28 June. Ms Deepa Gopalan Wadhwa, India’s ambassador to Japan, will be inaugurating the India pavilion on 26 June, according to Mr Rakesh Kumar, executive director, EPCH. sns
Amul turnover
AHMEDABAD, 25 JUNE: Gujarat Cooperative Milk Marketing Federation, which markets products under the Amul brand, today posted 18 per cent jump in turnover at Rs 13,735 crores for 2012-13. pti
UBI bonds
KOLKATA, 25 JUNE: United Bank of India, which came out with a BASEL-III compliant bond issue, today raised Rs 500 crore through Tier-II bonds. The issue, rated AA+ by Crisil and Brickwork, was at a coupon of 8.75 per cent and entirely subscribed by Life Insurance Corporation. sns
United India dividend
KOLKATA, 25 JUNE: Mr Milind Kharat, CMD, United India Insurance Company, has presented a dividend cheque of Rs 106 crore for the year 2012-13 to the Union finance minister Mr P Chidambaram in New Delhi today. sns