Corporate News Headline
•BHEL has bagged a Rs. 1.7 bn order from Chennai Petroleum Corporation for setting up gas turbine-based co-generation power plant at its Manali refinery. (BS)
•Welspun-Gujarat Stahl Rohren has bagged orders worth Rs. 9.6 bn from India and overseas for producing pipes and others. (BS)
•Areva T&D has bagged an order from aluminium major Hindalco for erecting 440 KV substations at its plants in Singrauli (MP) and Sambalpur (Orissa). (BS)
Economic and Political Headline
•The government has decided to compensate states for any revenue loss on account of the implementation of the Goods and Services Tax, a move that will encourage states to go in for the new tax structure scheduled to be implemented from April 1, next year. (BS)
•Japan's manufacturers plan to limit production increases this month and in July, signaling the economy may be slow to recover from its worst postwar slump. (Bloomberg)
•European confidence in the economic outlook rose 73.3, more than economists forecast in June, adding to signs that record low interest rates and stimulus measures are helping to pull the region out of a recession. (Bloomberg)
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