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Surya Industrial Corporation to hold AGM

Surya Industrial Corporation to hold AGM

Sep 14,2016

Surya Industrial Corporation announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Lupin gets ANDA approval for Hydrocodone Bitartrate and Homatropine Methylbromide Oral Solution (Syrup)
Feb 16,2017

Lupin has received USFDA approval for ANDA Hydrocodone Bitartrate and Homatropine Methylbromide Oral Solution (Syrup), 5 mg/1.5 mg per 5 ml, Generic of Hycodann++ Oral Solution, 5 mg/1.5 mg per 5 mL, of Endo Pharmaceuticals, Inc.

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Lupin gets ANDA approval for Hydrocodone Bitartrate and Homatropine Methylbromide Oral Solution (Syrup)
Feb 16,2017

Lupin has received USFDA approval for ANDA Hydrocodone Bitartrate and Homatropine Methylbromide Oral Solution (Syrup), 5 mg/1.5 mg per 5 ml, Generic of Hycodann++ Oral Solution, 5 mg/1.5 mg per 5 mL, of Endo Pharmaceuticals, Inc.

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Adani Power allots 2,74,09,956 equity shares
Feb 16,2017

Adani Power announced that the convertible warrant holders, to whom the warrants were allotted in the month of May, 2016 on preferential basis, have exercised their rights for conversion and applied for conversion of part of the warrants into equity shares. Consequently, Management Committee of the Board of Directors of the Company at its meeting held on 16 February 2017 has made allotment of total 2,74,09,956 Equity Shares of the face value of Rs. 10/- each (with a premium of Rs. 22.54 per equity share) to the said convertible warrant holders.

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Adani Power allots 2,74,09,956 equity shares
Feb 16,2017

Adani Power announced that the convertible warrant holders, to whom the warrants were allotted in the month of May, 2016 on preferential basis, have exercised their rights for conversion and applied for conversion of part of the warrants into equity shares. Consequently, Management Committee of the Board of Directors of the Company at its meeting held on 16 February 2017 has made allotment of total 2,74,09,956 Equity Shares of the face value of Rs. 10/- each (with a premium of Rs. 22.54 per equity share) to the said convertible warrant holders.

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HMT appoints director
Feb 16,2017

HMT announced that Ravindra Singh, has been appointed as Non-Official Independent Director on the Board of the Company with effect from 02 February 2017 vide Presidential Order dated 02 February 2017 and in terms of Article 77(1) of the Articles of Association of the Company.

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HMT appoints director
Feb 16,2017

HMT announced that Ravindra Singh, has been appointed as Non-Official Independent Director on the Board of the Company with effect from 02 February 2017 vide Presidential Order dated 02 February 2017 and in terms of Article 77(1) of the Articles of Association of the Company.

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Lupin receives final approval for Moxifloxacin Hydrochloride Tablets
Feb 16,2017

Lupin announced that the Company has received final USFDA approval for ANDA Moxifloxacin Hydrochloride Tablets, 400 mg. Generic of Avloxn++ Tablets of Bayer Healthcare Pharmaceuticals, Inc.

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Lupin receives final approval for Moxifloxacin Hydrochloride Tablets
Feb 16,2017

Lupin announced that the Company has received final USFDA approval for ANDA Moxifloxacin Hydrochloride Tablets, 400 mg. Generic of Avloxn++ Tablets of Bayer Healthcare Pharmaceuticals, Inc.

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OFS Technologies announces change in corporate office
Feb 16,2017

OFS Technologies announced that the corporate office address of the Company hereby shifted from No.5, Second Floor, Software Technology Park of India, Rajiv Gandhi Salai, Taramani, Chennai - 600113, Tamilnadu to Unit No.2, 4th Floor, Pinnacle Building, Ascendas International Tech park, Taramani Road, Taramani, Chennai - 600113, Tamilnadu with effect from 16 February 2017.

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OFS Technologies announces change in corporate office
Feb 16,2017

OFS Technologies announced that the corporate office address of the Company hereby shifted from No.5, Second Floor, Software Technology Park of India, Rajiv Gandhi Salai, Taramani, Chennai - 600113, Tamilnadu to Unit No.2, 4th Floor, Pinnacle Building, Ascendas International Tech park, Taramani Road, Taramani, Chennai - 600113, Tamilnadu with effect from 16 February 2017.

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Larsen & Tubro intimates of its contribution in ISROs record mission of launching 104 satellites
Feb 16,2017

Larsen & Toubro announced that its Aerospace business unit has been closely involved with ISROs record mission of launching 104 satellites.

PSLV - C37 was rocketed into orbit using S139 Motor Castings (Middle Segment) manufactured by the Aerospace Business Group of L&T.

Electronic packages are mounted on upper state of PSLV-C37 and Heat Shield using honeycomb deck panels. These honeycomb deck panels are manufactured at L&Ts Advance Composite facility in Vadodara.

The spacecraft was tracked using a Deep Space Network Antenna at ISTRACs tracking facility in Bangalore. This 32m diameter DSN Antenna was installed and commissioned by L&T. The Antenna Mount Structure and 13 m diameter Bull Gear (made for the first time in India) were also manufactured by L&T.

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Larsen & Tubro intimates of its contribution in ISROs record mission of launching 104 satellites
Feb 16,2017

Larsen & Toubro announced that its Aerospace business unit has been closely involved with ISROs record mission of launching 104 satellites.

PSLV - C37 was rocketed into orbit using S139 Motor Castings (Middle Segment) manufactured by the Aerospace Business Group of L&T.

Electronic packages are mounted on upper state of PSLV-C37 and Heat Shield using honeycomb deck panels. These honeycomb deck panels are manufactured at L&Ts Advance Composite facility in Vadodara.

The spacecraft was tracked using a Deep Space Network Antenna at ISTRACs tracking facility in Bangalore. This 32m diameter DSN Antenna was installed and commissioned by L&T. The Antenna Mount Structure and 13 m diameter Bull Gear (made for the first time in India) were also manufactured by L&T.

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Melstar Information Technologies announces cessation of CFO
Feb 16,2017

Melstar Information Technologies announced that with the cessation of employment of Anil Korpe, He ceased as Chief Financial Officer & Compliance Officer with the close of the business hours of the 15 February 2017.

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Asia Pacific Market: Stocks edge to new 19-month highs
Feb 16,2017

Asia Pacific share market edged to new 19-month highs on Thursday, 16 February 2017, with gains underpinned by an ongoing rally on Wall Street, even as rising expectations of a March rate increase by the Federal Reserve kept investors cautious. MSCIs broadest index of Asia-Pacific shares outside Japan rose 0.2% to its highest since July 2015.

Stocks tracked Wall Street as the US market indexes pushed further into record-high territory on Wednesday, helped by upbeat retail sales data for January and ongoing optimism that President Donald Trump will cut corporate taxes.

Yesterdays data lifted the odds for a Fed rate hike in March to 42% from 30% two days ago, helped by Fed chair Janet Yellens testimony that the central bank doesnt need to wait for Trump to outline plans on fiscal stimulus before resuming rate hikes. US year-on-year inflation reached 2.5% for January, the fastest pace since 2012.

In Commodities- In commodity markets, oil prices softened as record high U.S. crude and gasoline inventories fed concerns about a global glut. U.S. crude was down 0.1% at $53.07 a barrel and Brent was flat at $55.75 a barrel.

Among Asian bourses

Australia Market ends near two-year high

Australian equity market ended near two-year high on tracking positive lead from Wall Street overnight, with financial and material stocks leading gains, while the telecommunications sector proved a laggard. ASX sectoral performance was mixed, with earnings worries dragged on consumer and healthcare stocks. At the close, the benchmark S&P/ASX 200 index climbed 7.2 points, or 0.12%, of 5,816.3, the highest since early May 2015, while the broader All Ordinaries index inched up 3.9 points, or 0.07%, to 5,863.

Financial stocks were biggest contributor to the ASX rally, with Commonwealth Bank of Australia leading the gains after logging a fresh record first-half profit and pointed to a broadly positive economic backdrop for the sector. National Australia Bank, Australia & New Zealand Banking and Commonwealth Bank of Australia each added 0.7% and Westpac Banking was 1.1% higher.

The healthcare care sector also managed a rise, helped by strong gain in blood products and vaccine maker CSL after it reported a 12% rise in its half-year profit.

The telecommunication sector was pressured by biggest drag on Telstra, which lost 6.6% after the telecommunications operator said first-half earnings fell 14% as it was dented by regulatory price cuts and it trimmed income guidance for the full-year after disappointing mobile phone sales in the first six months.

Nikkei falls 0.47% on strong yen

The Japan share market settled down, as risk sentiment weighed down by yen ascent to 114 level against the dollar and skeptical about a possible March interest rate hike by the U.S. Federal Reserve, overshadowing another record close on Wall Street. The 225-issue Nikkei average shed 90.45 points, or 0.47%, to close at 19,347.53. The Topix index of all first-section issues finished down 2.62 points, or 0.17%, at 1,551.07.

Shares of Japanese exporters finished the session down due to yens advance against the U.S. dollar. The yens advance hurts exporters profits earned overseas when repatriated and dents the price competitiveness abroad of their products made in Japan. Toyota Motor ended down 0.5% to 6,457 yen, Nissan Motor fell 0.3% to 1,123.50 yen, while Mitsubishi Heavy Industries was down 2.4% at 444.90 yen. Semiconductor production-equipment maker Tokyo Electron fell 2.2% to 11,300 yen and optics-product maker Olympus lost 2.0% to Y3,940 yen.

The financial sector bucked the downward trend, tracking overseas counterparts on a rise in U.S. Treasury yields after Federal Reserve Chair Janet Yellen reiterated that she sees a solid U.S. recovery in her second day of testimony before Congress. Mitsubishi UFJ Financial Group rose 0.3% to 770.70 yen, while nonlife insurer Sompo Holdings finished up 1.7% at 4,308 yen.

Insurers rose as the prospect of a higher-yield environment increased after Federal Reserve Chairwoman Janet Yellen signaled more rate increases this year on Tuesday. Tokio Marine Holdings gained 2.2% to 5,129 yen and Dai-ichi Life Holdings rose 0.7% to 2,241 yen.

Toshiba continued stumbling, dropping 3.3% to 202.70 yen. The company has decided not to sell any stake in its chip business before the current business year ends next month, in a move that makes it certain the company will have a negative net worth at the end of the period,

Coal-Metal stocks lead China market gains

Mainland China stock market settled higher, with gains led by coal miners and metal firms, as the publication of regional governments investment targets lifted commodities markets. At the close, the blue-chip CSI300 index, which tracks large companies in Shanghai or Shenzhen, advanced 0.56% to close at 3,440.93. The Shanghai Composite Index added 0.52% to close at 3,229.62. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, increased 0.57% to 1958.11. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, drorose 0.28% to 1,897.63 points.

An index tracking Chinas major non-ferrous metals added as much as 2.8% to hit a fresh two-month high, while an index tracking coal miners gained 2.2%. Chinas high-profile One Belt, One Road initiative to link markets from Asia to Europe and its accelerated infrastructure investment at home have boosted demand for building-related resources and raw materials, including steel, cement and base metals. Shares in China Molybdenum soared by their 10% trading limit to a more than seven-month high. The stock has gained some 20% in the last month alone, and more than 30% over the past year on stronger demand for high-strength steel alloys.

From the economic news section- China should prudently manage its process of deleveraging to avoid a liquidity crisis, a debt-deflation trap and asset bubbles, the Research Bureau of the Peoples Bank of China (PBOC) said in a working paper Wednesday. China should take steps to prevent debt-deflation risks caused by excessively squeezed credit and investments, and should also curb liquidity risks and asset bubbles stemming from rapidly rising leverage ratios, noted the paper, which was published on the PBOCs website. The paper also said that markets should play the main role in deciding who to leverage and who to deleverage.

Hong Kong Stocks up on solid U.S. lead

The Hong Kong stock market climbed to best close in 18 months, thanks to an ongoing rally on Wall Street and bolstered by gains in Chinese stocks. The benchmark Hang Seng Index climbed 0.47% or 112.83 points higher to 24,107.70, the highest since August 2015 and the first close above 24,000 since September last year. The Hang Seng China Enterprises Index, or the H-share index, edged up 0.18% or 18.98 points to 10,455.02. Turnover decreased to HK$107.6 billion from HK$111 billion on Wednesday.

Stocks tracked Wall Street as the US market indexes pushed further into record-high territory on Wednesday, helped by upbeat retail sales data for January and ongoing optimism that President Donald Trump will cut corporate taxes.

Chinese banks extended their gains after data published this week showed new loans on the mainland rose to their second-highest level in history last month. China Construction Bank (CCB) rallied 2.87% to HK$6.45 following a 5% jump on Wednesday. The Bank of Communications climbed 1.62% to HK$6.28 while the Bank of China (BOC) was up 1.51% to HK$4.03.

Property counters bucked the uptrend as US Fed Chair Janet Yellen made it clear that she would speed up the rate hike pace. CK Property (01113) slipped 1.5% to HK$52. SHKP (00016) fell 0.7% to HK$108.3. Sino Land (00083) inched down 0.6% to HK$12.64.

Lenovo tumbled 6.69% to HK$4.88 after it posted a 67% drop in third-quarter net profit.

Healthcare, realty stocks push Sensex up

Indian stock market closed higher, due to heavy buying in healthcare, realty, IT and metal stocks amid firm global cues. The benchmark BSE index closed 145.71 points or 0.52% up at 28,301.27. The broader NSE index rose 53.3 points or 0.61% to 8,778.

IT stocks led the gains after Tata Consultancy Services said its board would consider a share buyback plan at a meeting next week. Shares of TCS, the countrys biggest software services exporter, gained 1.3% to their highest since September 7, 2016, heading for their 10th session of gains in 12 this month.

State Bank of India climbed 0.7% after the federal cabinet had on Wednesday approved its planned merger with five subsidiary banks.

Sun Pharmaceutical Industries rose 4.3%. Media reports that the drug maker has received approval from the U.K. regulator for generic drug Tobramycin helped the gains, dealers said.

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Australia Market ends near two-year high
Feb 16,2017

Australian equity market ended near two-year high on Thursday, 16 February 2017, on tracking positive lead from Wall Street overnight, with financial and material stocks leading gains, while the telecommunications sector proved a laggard. ASX sectoral performance was mixed, with earnings worries dragged on consumer and healthcare stocks. At the close, the benchmark S&P/ASX 200 index climbed 7.2 points, or 0.12%, of 5,816.3, the highest since early May 2015, while the broader All Ordinaries index inched up 3.9 points, or 0.07%, to 5,863.

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