Tech Mahindra after market hours yesterday, 5 October 2015, announced bagging a contract to provide digital solutions to Bombardier. As per the agreement with Bombardier Commercial Aircraft, Tech Mahindra will develop the Aircraft Ground Support System (AGSS) for Bombardier’s Aircraft Health Management System (AHMS) for the C Series family of aircraft. The AGSS will facilitate real-time and post-flight recorded data management, fault notification and diagnostic reporting, Tech Mahindra and Bombardier said in a joint press release.

Maruti Suzuki India said that its total production rose 1.53% to 1.18 lakh units in September 2015 over September 2014. The announcement was made after market hours yesterday, 5 October 2015.

Housing finance major HDFC after market hours yesterday, 5 October 2015, announced a reduction in its Retail Prime Lending Rate (RPLR) by 25 basis points, with effect from today, 6 October 2015. This reduction would benefit all customers. The effective home loan rates for new customers would be 9.65% per annum (p.a.) and for women will be 5 basis points lower at 9.60% p.a. The reduction in the RPLR will also be applicable on loans to Non-Resident Indians (NRIs)/ PIO’s Card holders. HDFC has recently made similar reduction in its deposit rates across all maturities.

Tata Steel will be in focus. Canadian iron ore miner New Millennium Iron Corp. after market hours yesterday, 5 October 2015, announced that it is reviewing its agreement with Tata Steel Global Minerals Holdings, a subsidiary of Tata Steel, for an iron ore project in Canada.

A review process for the heads of agreement was signed between New Millennium and Tata Steel Global Minerals Holdings, which governs the feasibility study of the Taconite project the two companies are currently engaged in. As part of the review, Tata Steel will consider current or potentially future participation in the development of the iron mines. The parties intend to conclude a definitive agreement during the first quarter of 2016 subject to the respective board approvals of the parties, the statement said.

Canara Bank said that the board of the bank approved reduction in the base rate by 25 basis points from 9.90% to 9.65% for loans / advances effective from 7 October 2015. The announcement was made after market hours yesterday, 5 October 2015.

Apollo Hospitals Enterprise will be in focus. With reference to the recent reports titled “Expansion in mind, Apollo Hospitals to raise funds” & “Apollo, IHH’s Decade-old Alliance on Shaky Ground” respectively, Apollo Hospitals Enterprise after market hours yesterday, 5 October 2015 clarified that no board meeting is being planned to be convened by this month end to seek consent for raising further funds for funding new expansions.

PTC India Financial Services (PFS) yesterday, 5 October 2015, announced introduction of Credit Enhancement Scheme as part of efforts to step up lending to quality infrastructure projects in the country. As part of the scheme, PFS will offer credit guarantee after detailed appraisal to eligible projects along with other financial institutions for providing partial guarantees for projects and the same shall be backed by adequate security. The announcement was made after market hours yesterday, 5 October 2015.

Indian Overseas Bank (IOB) after market hours yesterday, 5 October 2015, announced that Reserve Bank of India (RBI) has initiated a Prompt Corrective Action on the bank and that this action will not have any material impact on the growth prospects/performance of the bank. The directions given by RBI are for improving the internal control of the bank and for the purpose of consolidation of the activities of the bank, IOB said in a statement.