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Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Sep 14,2016

Net profit of Jindal Drilling & Industries declined 3.66% to Rs 9.48 crore in the quarter ended June 2016 as against Rs 9.84 crore during the previous quarter ended June 2015. Sales rose 11.24% to Rs 92.66 crore in the quarter ended June 2016 as against Rs 83.30 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales92.6683.3011
OPM %9.8912.74-
PBDT14.5518.68-22
PBT12.0915.01-19
NP9.489.84-4

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Power Grid Corporation of India in spotlight on fund raising plan
Nov 24,2016

Power Grid Corporation of India (PGCIL) after market hours yesterday, 23 November 2016 said that a meeting of Committee of Directors for Bonds is planned to be held on 28 November 2016, to consider issue of secured, redeemable, non-convertible, non-cumulative, taxable bonds (debenture) under private placement.

Software major Infosys after market hours yesterday, 23 November 2016, announced that it has signed a definitive agreement to a Limited Partner investment of Rs 31.6 crore from its Innovation Fund in Stellaris Venture Partners, an India-based early stage venture fund. This investment is towards the first close of Stellaris fund. The investment is expected to complete by 15 December 2016.

Zee Entertainment Enterprises (Zee) after market hours yesterday, 23 November 2016, announced the acquisition of general entertainment television broadcasting undertakings from Anil Ambani led Reliance Group (Reliance) under a composite scheme of arrangement subject to requisite approvals. Reliances TV business comprises two entertainment channels (Big Magic, Big Ganga) and four other TV licenses. The business shall get demerged into Zee from three Reliance entities viz. Big Magic, Reliance Big Broadcasting (RBBL) and Azalia Broadcast (Azalia). The consideration payable by the company for the proposed acquisition shall be by way of taking over off debt of the demerged undertakings aggregating about Rs 295 crore and issuance of unlisted preference shares aggregating to Rs 3.95 crore to the shareholders of transferor companies. The appointed date of the demerger scheme shall be 31 March 2017. The transaction is expected to close in the second half of the calendar year 2017. Reliance also operates a news and current affairs channel (BTV) which is not part of the transaction.

RBL Bank said it entered into an agreement with Bajaj Finance for launching a series of co-branded credit cards in partnership for the Indian market. These co-branded credit cards are proposed to be launched in December 2016. The announcement was made after market hours yesterday, 23 November 2016.

AXIS Bank said that its board allotted 18,000 unsecured redeemable non-convertible subordinated debentures (Basel-III compliant Tier II debentures) (Series - 25) of the face value of Rs 10 lakh each for cash at par aggregating to Rs 1800 crore on a private placement basis. The said debentures will be listed on the wholesale debt market segment of the BSE and National Stock Exchange of India. The said debentures is rated n++AAA by ICRA and Ind-Ra. The announcement was made after market hours yesterday, 23 November 2016.

Seamec said it has entered into a contract for the charter hire of vessel n++REVELATIONn++ with Resolve Salvage and Fire (Asia) for undertaking a job in West Coast of India. The tenure of the contract is for a firm period of 25 days subject to extension. The contract will commence around the first week of January 2017. The value of charter during firm period is $244,000. The announcement was made after market hours yesterday, 23 November 2016.

Rallis India said it signed an agreement for increasing its stake in its subsidiary, Zero Waste Agro - Organics, to 100% from 73.63% earlier. Consequently, ZWAOL will become a wholly owned subsidiary of the company. The announcement was made after market hours yesterday, 23 November 2016.

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HPL Electric & Power gets revision in credit ratings
Nov 23,2016

HPL Electric & Power has received revision in ratings for various facilities from India Rating & Research.

Long term - IND A / Positive outlook (upgraded from IND A- / Stable outlook)

Short term - IND A1 (reaffirmed)

Commercial paper - IND A1 (reaffirmed)

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Bannari Amman Sugars gets High Court approval for scheme of amalgamation
Nov 23,2016

Bannari Amman Sugars announced that the Honble High Court of Judicature at Madras on 15 November 2016 has passed an Order sanctioning the Scheme of Amalgamation of Madras Sugars with the Company. The appointed date for the Scheme of Amalgamation is 01 January, 2016. The Company have filed the certified copy of the scheme of amalgamation with the Registrar of Companies on 23 November 2016.

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Board of Bannari Amman Sugars announced recommends dividend
Nov 23,2016

Bannari Amman Sugars announced that the Board of Directors of the Company at its meeting held on 23 November 2016 recommended payment of dividend @ Rs. 7.50 per equity share on 1,14,39,700 equity shares of Rs. 10/- each for the year ended 31 March 2016.

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Bodal Chemicals gets High Court approval for scheme of amalgamation
Nov 23,2016

Bodal Chemicals announced that Honble High Court of Gujarat vide its Oral Order dated 11 November 2016 (received on 23 November 2016) approved the Scheme of Amalgamation Bodal Agrotech with Bodal Chemicals. The Appointed date of Scheme of Amalgamation is 01 April 2016.

Further, Company is awaiting the certified copy of the Order of Honble High Court of Gujarat for further action.

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AXISCADES Engineering Technologies gets High Court approval for scheme of amalgamation
Nov 23,2016

AXISCADES Engineering Technologies announced that the Honble High Court of Karnataka has sanctioned the Scheme of amalgamation of India Aviation Training Institute with the Company, without any modifications and a copy of the Certified Order sanctioning the Scheme has been received by the Company on 23 November 2016. The Company will be taking necessary steps to give effect to the Certified Order.

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RBL Bank and Bajaj Finance partner to launch co-branded credit card
Nov 23,2016

RBL Bank announced that the Bank and Bajaj Finance have on 23 November 2016 entered into an agreement for launching a series of co-branded credit cards in partnership for the Indian market. These co-branded credit cards are proposed to be launched in December 2016.

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Noida Toll Bridge Company announces change in nominee director
Nov 23,2016

Noida Toll Bridge Company announced about the following change in Composition of the Board of Directors of the Company with immediate effect:-

1. Resignation of Arun K Saha, Non Executive, Nominee Director of IL&FS Transportation Networks.

2. Appointment of Pradeep Puri as Executive Vice Chairman representing IL&FS Transportation Networks.

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UltraTech Cement proposes to raise Rs 400 crore
Nov 23,2016

UltraTech Cement announced that the Company has proposed to issue unsecured redeemable non-convertible debentures amounting to Rs 400 crore on private placement basis.

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Rallis India to acquire remaining stake holding in subsidiary
Nov 23,2016

Rallis India announced that the Company has on 23 November 2016 signed an Agreement for increasing its stake in its Subsidiary, Zero Waste Agro - Organics from 73.63% to 100%. Consequently, ZWAOL will become a wholly owned subsidiary of the Company, on completion of the acquisition of the balance shares in ZWAOL.

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Ruchi Infrastructure announces resignation of director
Nov 23,2016

Ruchi Infrastructure announced that due to pre-occupation, Amrtia Shahra Sachdev has resigned from the Board of Directors of the Company.

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Shares of High Ground Enterprise get listed on NSE
Nov 23,2016

High Ground Enterprise announced that the National Stock Exchange of India vide its letter dated 23 November 2016 have admitted 115,115,949 equity shares of Re. 1/- of the Company for trading on its exchange w.e.f. 24 November 2016.

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ITC allots equity shares
Nov 23,2016

ITC announced that the Company on 23 November 2016 issued and allotted 1,83,800 Ordinary Shares of Rs. 1/- each, upon exercise of 18,380 Options by Optionees under the Companys Employee Stock Option Schemes.

Consequently, with effect from 23 November 2016, the Issued and Subscribed Share Capital of the Company stands increased to Rs. 1211,93,84,761/- divided into 1211,93,84,761 Ordinary Shares of Rs. 1/- each.

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Axis Bank allots Tier II Debentures aggregating Rs 1800 crore
Nov 23,2016

Axis Bank announced that the Board of Directors of the Bank vide its Resolution passed by Circulation on 23 November 2016, allotted 18,000 Unsecured Redeemable Non-Convertible Subordinated Debentures (Basel- III Compliant Tier II Debentures) (Series - 25) of the face value of Rs. 10 lakh each for cash at par aggregating to Rs. 1800 crore (Rupees Eighteen Hundred Crore only), on a private placement basis. The said Debentures will be listed on the Wholesale Debt Market segment of the BSE and National Stock Exchange of India.

The said Debentures is rated n++AAA by ICRA and Ind-Ra

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Pratibha Industries secures a contract valued Rs 92.22 crore
Nov 23,2016

Pratibha Industries announced that Tamil Nadu Water Supply and Drainage Board has awarded a contract to the Company for providing combined water supply scheme to 293 rural habitations in Musiri, Thathyanagarpettai, Thuraiyur and Uppiliyapuram unions in Trichy District including paid maintenance for five years. The total value of the contract is Rs 92.22 crore.

With this, the Company has won contracts aggregating Rs 700 crore in recent times. The Company emerged as the lowest bidder in tenders for contracts worth Rs 370 crore and they are expected to be finalised soon.

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