Thursday, 21 April 2016

News Brief (21st April 2016)

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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