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Network 18 Media gains after board OKs selling BURRP

Network 18 Media gains after board OKs selling BURRP

Apr 20,2017

The announcement was made after market hours yesterday, 19 April 2017.

Meanwhile, the S&P BSE Sensex was up 72.16 points, or 0.25% to 29,408.73.

On the BSE, 3.35 lakh shares were traded in the counter so far, compared with average daily volumes of 2.29 lakh shares in the past one quarter. The stock had hit a high of Rs 42.90 and a low of Rs 40.45 so far during the day. The stock hit a 52-week high of Rs 49.20 on 29 September 2016. The stock hit a 52-week low of Rs 30.50 on 27 December 2016.

The stock had outperformed the market over the past one month till 19 April 2017, rising 12.08% compared with 0.50% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.16% as against Sensexs 7.43% rise.

The mid-cap company has equity capital of Rs 523.47 crore. Face value per share is Rs 5.

The board of directors of Network 18 Media & Investments at its meeting held yesterday, 19 April 2017, evaluated the proposal of restructuring its business of food and restaurant search and recommendation engine operated under the name of BURRP, which has insignIficant contribution to the revenue of the company.

The board has given in-principle approval to sell/transfer/dispose-off or transfer BURRP to any other entity including a related party/getting a strategic investor.

In this regard, the board has authorised certain directors and officers of the company to evaluate the various options and take such further action in the matter, as may be suitable, after complying with necessary regulatory requirements.

On a consolidated basis, Network 18 Media & Investments reported net loss of Rs 33.32 crore in Q4 March 2017 as against net loss of Rs 24.99 crore in Q4 March 2016. Net sales declined 18.08% to Rs 387.67 crore in Q4 March 2017 over Q4 March 2016.

Network18 Media and Investments is a media and entertainment company with interests in television, internet, filmed entertainment, digital business, magazines, mobile content and allied businesses.

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Omkar Speciality Chemicals in-house R&D unit gets renewal of registration
Aug 22,2017

Omkar Speciality Chemicals announced that the Department of Scientific and Industrial Research has accepted the application of the Company for renewal of recognition to the in-house R&D unit of the Company located at Badlapur, Thane. The recognition and registration of the in-house R&D unit is renewed up to 31 March 2020.

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Outcome of board meeting of SAB Events & Governance Now Media
Aug 22,2017

SAB Events & Governance Now Media announced that the Board of Directors of the Company at its meeting held on 22 August 2017 has considered the following matters -

1. Upon recommendation of Nomination and Remuneration Committee, appointed Manav Dhanda as an Additional (Non-Executive) Director of the Company w.e.f 22 August, 2017.

2.Appointed Rakesh G. Jain as an Additional (Independent) Director of the Company for a term of 5 (Five) consecutive years w.e.f 22 August, 2017

3.Approved the Issue and offer of stock options upto 75,000 (Seventy Five Thousand) not exceeding 0.7% approximately of the paid-up equity share capital of the Company, to the permanent Employees including Directors of the Company

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Cambridge Technology Enterprises acquires new client
Aug 22,2017

Cambridge Technology Enterprises announced the acquisition of a new client in Al as a Service (Alaas). Based in North America, the client has strong focus on the BFSI vertical. Under the Alaas model, CTE benefits from receiving a share in the incremental revenues of its clients business by deploying its proprietary algorithums.

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Visa Steel expects to resume operations at plant in Kalinganagar
Aug 22,2017

Visa Steel announced that movement of raw materials to the Companys plant site at Kalinganagar was abruptly suspended by local Truck Owners Union, backed by local politicians for pressing their unreasonable demands. In absence of raw materials, operation at the Companys plant site at Kalinganagar have come to grinding halt. The matter was escalated to the Office of the Honble Chief Minister of Odisha. The Company expects to resume production at various units from late evening today or tomorrow.

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Shriram Transport Finance Company allots NCDs aggregating Rs 25 cr
Aug 22,2017

Shriram Transport Finance Company on 22 August 2017 has allotted 250 Secured Redeemable Rated Listed Non-Convertible Debenture of face value of Rs.10,00,000/- (Rupees Ten Lakh only) each, aggregating to Rs. 25 crore on private placement basis.

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Bijlee Textiles gets in-principle approval for delisting of shares from BSE
Aug 22,2017

Bijlee Textiles has received in-principle approval for voluntary delisting of equity shares from BSE on 22 August 2017. The Company will now proceed with the delisting process as per the applicable delisting regulation.

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Rosekamal Textiles receives in-principle approval for delisting of shares from BSE
Aug 22,2017

Rosekamal Textiles has received in-principle approval for voluntary delisting of equity shares from BSE on 22 August 2017. The Company will now proceed with the delisting process as per the applicable delisting regulations.

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SML ISUZU gets reaffirmation in credit ratings
Aug 22,2017

SML ISUZU announced that ICRA has reaffirmed the long-term rating for Line of Credit at [ICRA]AA (pronounced ICRA double A) and short term rating for Line of Credit and Commercial Paper/ Short Term Debt programme at [ICRA]A1+ (pronounced ICRA A one plus) of SML Isuzu.

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Subros raises Rs 50 cr through NCD issue
Aug 22,2017

Subros has raised an amount of Rs 50 crore on 22 August 2017 by way of allotment of 500 Rated, Listed, Secured, Redeemable, Non Convertible Debentures of face value of Rs 10 lakh.

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Ruchi Infrastructure appoints director
Aug 22,2017

Ruchi Infrastructure has appointed Mohan Das Kabra as an Additional Director of the Company with effect from 22 August 2017.

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Deccan Cement fixes record date for stock split
Aug 22,2017

Deccan Cement has fixed 12 September 2017 as record date for sub-division of equity shares of the Company having face value of Rs 10 each into 2 equity shares of Rs 5 each.

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Board of NIIT gives in-principle approval for voluntary liquidation of subsidiary
Aug 22,2017

The Board of NIIT at its meeting held on 22 August 2017 has approved in-principle, the voluntary liquidation of NIIT Antilles NV, Netherlands, a wholly owned subsidiary of the Company. Upon completion of the process of voluntary liquidation of Antilles NV, there would be a potential positive impact of approx. Rs 10 crore in the financial statements of the company.

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Outcome of board meeting of Sri Adhikari Brothers Television Network
Aug 22,2017

The Board of Sri Adhikari Brothers Television Network at its meeting held on 22 August 2017 has appointed Rakesh G Jain as Additional Director with effect from 22 August 2017. The Board noted relinquishment of office of Manav Dhanda as Chief Executive Officer of the Company w.e.f 31 August, 2017, for taking up a leadership role at group level in TV Vision (Broadcasting Arm).

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Outcome of board meeting of TV Vision
Aug 22,2017

TV Vision announced that the Board of Directors of the Company at its meeting held on 22 August 2017 have approved the following -

1)Approved the appointment of Manav Dhanda as the Chief Executive Officer w.e.f 1 September, 2017.

2)Re-designated Gautam Adhikari (DIN: 00026444) from Chairman and Non-Executive Director to Chairman and Whole Time Director for a period of 5 (Five) years w.e.f. 22 August 2017 to 21 August 2022, subject to the approval of the members of the Company at the ensuing Annual General Meeting.

3)Approved to Issue and offer options upto 2,00,000 (Two Lakh) being not exceeding 0.6% approximately of the paid-up equity share capital of the Company, to the permanent Employees including Directors of the Company under TV Vision Limited Employee Stock Option Scheme 2017 (TVL ESOS 2017) exercisable into not more than 2,00,000 (Two Lakh) fully paid-up equity shares in the Company in aggregate of the face value of Rs.10/- (Rupees Ten Only).

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TCI Express gets revision in ratings for bank facilities
Aug 22,2017

TCI Express announced that CRISIL has revised its ratings for the bank facilities (Rs 100 crore) availed by the Company as from CRISIL A+/ Stable to CRISIL AA-/Stable.

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