India Ratings downgrades SAIL’s
rating
Credit rating
agency, India Ratings and Research has downgraded Steel Authority of India's
(SAIL) rating to 'AA' from 'AAA' with negative outlook. The downgrade
reflects the company's credit metrics being lower than the rating agency's
expectation for the first nine months of last fiscal. The steep fall in steel
prices since January 2015 led to SAIL registering Ebita losses in first three
quarters of last year and the consequent worsening of its credit metrics. The
state-owned company is undertaking capital expenditure of Rs 61,870 crore. This
apart, it will spend an additional Rs 10,260 crore to augment raw-material
availability. SAIL is
India's largest steel producing company. The company is among the five Maharatnas
of the country's Central Public Sector Enterprises. The company has five
integrated steel plants, three special plants, and one subsidiary in different
parts of the country.
Apollo Hospital’s arm partners with
JIYO
Apollo
Hospitals Enterprise's arm Apollo Life has entered into partnership with JIYO,
a wellness company on April 18, 2016, to launch a wellbeing platform 'Apollo
JIYO' to address employee health and wellbeing. The platform
has personalisation and health tracking tools like sleep patterns, stress
reduction and exercise tips for corporate users through mobile and web
application. Through this partnership, Apollo will be able to bring global
experts, products and services faster and directly to the smart phones and the
desktops. Apollo
Hospitals is the leading private sector healthcare provider in Asia and owns
and manages a network of speciality hospitals and clinics, a chain of Pharmacy
retail outlets across the country, and provides Consultancy Services for
commissioning and managing the Speciality Hospitals.
Tata Power installs water softener
exchange at Jojobera Plant
Tata Power,
India's largest integrated power company has installed a softener exchanger of
15 M3 capacity / hour to improve the performance of waste water recovery system
at its Jojobera plant, Jamshedpur. The objective of installing the softener
exchange was to keep the cooling towers of the power plants in a healthy
condition, so that the portion of water that is shed on a routine basis, is
free from impurities and can be reused for other purposes instead of being
disposed of as waste water. The system
consists of various filters such as press sand filter, carbon filter, ultra
filtration units and reverse osmosis units in addition to various chemical
dosing systems. This installation will not only enhance the life of the plant
by preventing choking of filters, but will also keep the treatment system in a
healthy condition. Tata Power is
India's largest integrated power company with a growing international presence.
The company together with its subsidiaries and jointly controlled entities has
an installed gross generation capacity of [9100] MW and a presence in all the
segments of the power sector viz. Fuel Security and Logistics, Generation
(thermal, hydro, solar and wind), Transmission, Distribution and Trading.
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After a tepid showing over the past two weeks when the benchmark indices declined up to 3 per cent, the equity market made a strong comeback on Monday.
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