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Reliance Capital gains after board approves independent listing of home finance business

Reliance Capital gains after board approves independent listing of home finance business

Sep 14,2016

The announcement was made yesterday, 13 September 2016, when stock market remained closed on account of Bakri Id.

Meanwhile, the S&P BSE Sensex was down 46.19 points or 0.16% at 28,307.35.

On BSE, so far 6.75 lakh shares were traded in the counter as against average daily volume of 5.01 lakh shares in the past one quarter. The stock hit a high of Rs 561.50 and a low of Rs 546.65 so far during the day. The stock had hit a 52-week high of Rs 574 on 9 September 2016. The stock had hit a 52-week low of Rs 303.60 on 12 February 2016. The stock had outperformed the market over the past one month till 12 September 2016, rising 21.96% compared with 0.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 32.06% as against Sensexs 6.45% rise.

The large-cap company has equity capital of Rs 252.63 crore. Face value per share is Rs 10.

Reliance Capital said the independent listing of Reliance Home Finance (RHF) is expected to unlock substantial value for existing shareholders of Reliance Capital. The listing of Reliance Home Finance will also lead to increased management focus and accelerated growth in the home finance business. As per the proposal, 49% stake in Reliance Home Finance Limited will be allotted to all shareholders of Reliance Capital, in the ratio of one share free of cost in Reliance Home Finance for every one share held in Reliance Capital.

Reliance Capital will hold a 51% stake in Reliance Home Finance, and the company will be adequately capitalised to grow the lending book to over Rs 20000 crore in the next 18 months. The proposal is subject to necessary shareholders and other approvals. Reliance Home Finance, a 100% subsidiary of Reliance Capital, provides a wide range of loan solutions like home loan, LAP, construction finance and affordable housing loans. The company reported an AUM of Rs 8259 crore ($1.2 billion) during the quarter ended 30 June 2016.

Mr. Anmol A. Ambani, Director, Reliance Capital said Prime Minister, Narendra Modi has set a goal of affordable housing for all by 2022. There is presently an estimated shortage of 10 crore residential units in India. To address the needs of this sector, Reliance Home Finance has charted an aggressive growth plan in this space, and aims to increase its book size to over Rs 50000 crore in the next few years.

On a consolidated basis, Reliance Capitals net profit rose 3% to Rs 207 crore on 48.3% growth in total income to Rs 3663 crore in Q1 June 2016 over Q1 June 2015.

Reliance Capital, a part of the Reliance Group, is one of Indias leading private sector financial services companies.

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Divis Lab extends Mondays rally
Jul 11,2017

Meanwhile, the S&P BSE Sensex was up 158.32 points or 0.5% at 31,873.96.

On the BSE, 2.55 lakh shares were traded on the counter so far as against the average daily volumes of 2.46 lakh shares in the past one quarter. The stock had hit a high of Rs 755.65 and a low of Rs 741.75 so far during the day. The stock had hit a record high of Rs 1,380 on 16 September 2016 and a 52-week low of Rs 533.10 on 29 May 2017.

The stock had outperformed the market over the past one month till 10 July 2017, advancing 12.81% compared with the Sensexs 1.45% rise. The stock had also outperformed the market over the past one quarter, gaining 11.72% as against the Sensexs 7.24% rise. The scrip had, however, underperformed the market over the past one year, sliding 34.56% as against the Sensexs 16.92% rise.

The large-cap company has equity capital of Rs 53.09 crore. Face value per share is Rs 2.

Shares of Divis Laboratories have surged 9.66% in two trading sessions from its closing of Rs 680.15 on 7 July 2017, after the company announced during market hours yesterday, 10 July 2017 that the US health regulator will lift the import alert imposed on the companys Unit-II at Visakhapatnam. The stock surged 7.94% in a single trading session to settle at Rs 734.15 yesterday, 10 July 2017.

Divis Laboratories had earlier informed that the United States Food and Drug Administration (USFDA) has issued an Import Alert under clauses 99-32 and 66-40 in March of 2017 and a warning letter in May of 2017 for its Vishakhapatnam facility.

Divis had filed detailed responses and given updates to the Form-483 and the warning letter within the stipulated time. Divis Laboratories, along with its external consultants, specialists and subject matter experts, had taken up appropriate remediation measures to address the concerns raised by USFDA.

Divis Laboratories net profit fell 19.5% to Rs 259.29 crore on 3.5% decline in net sales to Rs 1063.14 crore in Q4 March 2017 over Q4 March 2016.

Divis Laboratories is primarily engaged in the manufacture of active pharmaceutical ingredients (APIs) & intermediates for generics; custom synthesis of APIs and advanced intermediates for discovery compounds for pharma giants; building blocks for peptides; building blocks for nucleotides; carotenoids; and chiral ligands.

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Ministry of Civil Aviation seeks to upgrade its AirSewa web portal; consults stakeholders for designing AirSewa 2.0
Jul 11,2017

The Ministry of Civil Aviation held a meeting of all stakeholders last week to invite suggestions for designing AirSewa 2.0, the upgraded version of the AirSewa web portal and mobile app that was launched in November last year to make air travel convenient and hassle-free. Nodal Officers of all stakeholders like Airlines, Airports, Immigration, Customs, DGCA, etc attended the meeting. Valuable suggestions for service improvement, enhancing user comfort and quick redressal of complaints were received and will be considered for incorporation in the design of AirSewa 2.0.

This follows the success of AirSewa1.0 which has been received well, with around 19,000 app downloads so far and over 65,000 web portal hits since its launch. More than 92% of grievances have been resolved and most of them within the stipulated time limits.

The Ministry is committed to providing a safe, and comfortable air travel experience to users. Flight delays, problem in refunds, long queues, inadequate facilities at airports and complaints of lost baggage are the most common problems that air travelers face. n++There was a need to respond to these problems in a systematic manner rather than on ad-hoc basis. n++The Ministry had launched AirSewa web portal and mobile app on 26.11.2016 to address this need.

AirSewa is operated through an interactive web portal and a mobile app for both Android and iOS platforms. n++e-portal includes a mechanism for grievance redressal, back office operations for grievance handling, flight status/schedule information, airport Information and FAQs.

Users can now check live flight status for all inbound and outbound flights in a single click. Information regarding weather conditions and services for some selected airports is also available on this portal. Flights can be searched by flight number or for all flights to or from a particular airport. Information such as airport services like wheel chair, transport/parking, rest and relax, Wifi services etc. can also be easily accessed.

Timely and satisfactory grievance redressal was an important priority as users had to approach several stakeholders to get their grievances redressed. AirSewa is a one-stop solution for grievance redressal as passengers can now register any grievance on the mobile app or web portal. Thn++ey can also upload voice or video along with an elaborate description of their issues.

Thn++e portal has helped make the grievance redressal system responsive, transparent, accountable and efficient by using technology. Users can now track the status and response through reference number provided. n++There are stipulated timelines in place to address the issue. n++The portal is closely monitored by control room to ensure timely and effective redressal. A message is sent to the concerned nodal officer if any grievance remains unattended or unresolved. To improve the user experience an option to provide feedback and rate the overall experience and satisfaction has been provided.

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KEC International extends recent gains
Jul 11,2017

Meanwhile, the S&P BSE Sensex was up 136.59 points, or 0.43% at 31,852.23. The S&P BSE Mid-Cap index was up 8.43 points, or 0.06% at 15,049.97.

On the BSE, 1.18 lakh shares were traded on the counter so far as against the average daily volumes of 1.09 lakh shares in the past one quarter. The stock had hit a high of Rs 281.25 and a low of Rs 273.15 so far during the day. The stock had hit a record high of Rs 283.50 on 1 June 2017 and a 52-week low of Rs 111.20 on 9 November 2016.

The stock had outperformed the market over the past one month till 10 July 2017, advancing 4.42% compared with the Sensexs 1.45% rise. The scrip had also outperformed the market over the past one quarter advancing 26.93% as against the Sensexs 7.24% rise. The scrip had also outperformed the market over the past one year advancing 87.79% as against the Sensexs 16.92% rise.

The mid-cap company has equity capital of Rs 51.42 crore. Face value per share is Rs 2.

Shares of KEC International have gained 4.81% in two trading sessions from its close of Rs 266.80 on 7 July 2017 after the company before market hours yesterday, 10 July 2017 said that the company secured new orders worth Rs 1,845 crore. The stock had rallied 1.74% to settle at Rs 271.45 yesterday, 10 July 2017.

The stock had also surged 4.24% in a single trading session to settle at Rs 266.80 on 7 July 2017.

KEC Internationals consolidated net profit rose 90.5% to Rs 145.56 crore on 11.3% increase in net sales to Rs 2849.20 crore in Q4 March 2017 over Q4 March 2016.

KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission and distribution, cables, railways, renewables and civil.

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Outcome of board meeting of Just Dial
Jul 11,2017

Just Dial announced that the Board of Directors at its meeting held on 11 July 2017 transacted the following -

Considered and approved new Employee Stock Option Scheme 2017 and issuance of 41,73,000 equity shares (nearly 6% of the paid up capital) of the Company, to be utilised over the next 4 years, subject to approved shareholder of the Company through postal ballot.

Decided to amend terms of Just Dial Employee Stock Option Scheme, 2016, subject to approval of shareholders of the Company through posted ballot.

Considered and approved Draft Postal Ballot Notice for the aforesaid purpose.

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Board of Onesource Ideas Venture allots 28.50 lakh equity shares on preferential basis
Jul 11,2017

The Board of Directors of Onesource Ideas Venture at its meeting held on 10 July 2017 transacted the following -

Pursuant to the In-principal Approval received from BSE on 22 June, 2017 and in accordance with the Special Resolution passed by the Company on 26 June,2017, the Board of Directors have allotted 28,50,000 Equity Shares of Rs.10 per share fully paid at a premium of Rs.6/- per share on Preferential basis thereby increasing the Paid up Share Capital of the Company from Rs. 22,50,000/- divided in to 2,25,000 Equity Shares of Rs. 10/- per share to Rs. 3,07,50,000/- divided in to 30,75,000 Equity Shares of Rs. 10/- per share

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Sugar stocks surge after Govt hikes import duty
Jul 11,2017

Meanwhile, the S&P BSE Sensex was up 99.34 points or 0.31% at 31,814.98.

Empee Sugars & Chemicals (up 5%), Sakthi Sugars (up 4.49%), Rana Sugars (up 3.94%), KCP Sugar & Industries (up 3.38%), Shree Renuka Sugars (up 1.66%), Dhampur Sugar Mills (up 1.24%), Triveni Engineering & Industries (up 0.96%), Bajaj Hindusthan Sugar (up 0.82%), Balrampur Chini Mills (up 0.81%) and Dwarikesh Sugar Industries (up 0.37%) edged higher.

A notification issued by the revenue department yesterday, 10 July 2017 said that import duty on sugar (raw sugar, refined or white sugar, raw sugar if imported by bulk consumers) has been increased from the present 40% to 50% with immediate effect and without an end date.

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Residential real estate prices increase in half of the cities and declined in other half of cities surveyed
Jul 11,2017

The revamped and expanded official online user friendly NHB RESIDEX that captures movements in the prices of residential real estate prices released today revealed that prices during January-March, 2017 have increased over that of October-December, 2016, in about half of the cities covered under the survey while the other half have either registered a decline or remained the same.

Minister of Housing & Urban Affairs Shri M.Venkaiah Naidu today released the new version of NHB RESIDEX on the occasion of the National Housing Bank entering its 30th year.

Speaking on the RESIDEX, Shri Naidu said the price indices for the last quarter of last financial year i.e 2016-17 proved wrong the critics of demonetization who said that economy will take a hit. He also said that the National Housing Bank also collected data on land prices which showed that a correction in land prices is taking place which again reflects the declining trend in transactions of unaccounted money.

NHB RESIDEX for January-March,2017 revealed that price indices for residential properties based on actual market prices for ongoing construction prices have increased over the previous quarter in 24 of the 47 cities covered in the Index including in Jaipur, Chennai, Lucknow, Guwahati, Howrah, Hyderabad, Bidhannagar etc. In Delhi, Faridabad, Chandigarh, Patna and Nashik etc, prices have come down. This component of RESIDEX, called Housing Price Index@Market Prices is based on actual market information.

The other component of RESIDEX called as HPI@Assessment Prices based on the information furnished by banks and other lending agencies showed that prices have increased in 27 of the 50 cities surveyed. These include; Gurgaon, Mumbai, Vadodara, Raipur, Kanpur, Chandigarh, Bhubaneswar, Visakhapatnam and Coimbattore. Prices, however, have declined in Ranchi, Gandhinagar, Surat, Ludhiana, Kolkata etc.

The RESIDEX has been computed for three categories of houses with carpet of below 60 sq.mtre, 61-110 sq.mtres and 111 sq.mtres and above.

RESIDEX, the countrys first official housing price index (HPI) was launched in 2007 covering 26 cities and was published till March, 2015 on a quarterly basis. The revamped RESIDEX has been expanded to 50 cities spread over 18 States and UTs. These include 38 smart cities, of which 18 are state capitals.

Base year for the new RESIDEX has been moved from 2007 to 2012-13 to capture the changing structure of the economy besides capturing the latest information to accurately reflect the current economic situation, as per the internationally accepted practices.

Shri Shriram Kalyanaraman, CMD of National Housing Bank informed that RESIDEX will soon cover 100 cities and also will be further widened to include Land Price Indices, Building Materials Price Indices and Housing Rental Index.

NHB RESIDEX helps buyers and sellers to check and compare prices before entering a transaction. They can also analyse the price trends across different cities both at composite level and product category level. It helps lenders in credit evaluation. It provides promoters with a standardized tool to assess the housing demand. Government agencies can monitor trends in macro and micro markets and predict future behavior of the housing market.

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Jubilant FoodWorks drops after recent sharp rally
Jul 11,2017

Meanwhile, the S&P BSE Sensex was up 90.91 points, or 0.29% at 31,806.55. The S&P BSE Mid-Cap index was up 10.49 points, or 0.07% at 15,052.03.

On the BSE, 22,000 shares were traded on the counter so far as against the average daily volumes of 58,611 shares in the past one quarter. The stock had hit a high of Rs 1,125 and a low of Rs 1,093 so far during the day. The stock had hit a 52-week high of Rs 1,298.80 on 2 August 2016 and a 52-week low of Rs 761 on 26 December 2016.

The stock had outperformed the market over the past one month till 10 July 2017, advancing 14.92% compared with the Sensexs 1.45% rise. The scrip had also outperformed the market over the past one quarter advancing 8.1% as against the Sensexs 7.24% rise. The scrip had, however, underperformed the market over the past one year declining 5.96% as against the Sensexs 16.92% rise.

The mid-cap company has equity capital of Rs 65.98 crore. Face value per share is Rs 10.

Shares of Jubilant FoodWorks had rallied 17.48% in the preceding six trading sessions to settle at Rs 1,110.75 yesterday, 10 July 2017, from its close of Rs 945.45 on 30 June 2017.

Jubilant FoodWorks net profit fell 75.9% to Rs 6.72 crore on 0.8% decrease in net sales to Rs 612.78 crore in Q4 March 2017 over Q4 March 2016.

Jubilant FoodWorks is part of Jubilant Bhartia group and Indias largest food service company with a network of Dominos Pizza restaurants pan India. The company & its subsidiary have the exclusive rights to develop and operate Dominos Pizza brand in India, Sri Lanka, Bangladesh and Nepal. The company also has exclusive rights for developing and operating Dunkin Donuts restaurants for India.

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Mixed finish for US stocks
Jul 11,2017

US stocks finished in a mixed mode on Monday, 10 July 2017 at Wall Street. The Nasdaq and the S&P 500 finished higher Monday as a pair embattled sectors, technology and energy, drew bidders, while the Dow industrials closed fractionally lower,

The Dow Jones Industrial Average after clinging to modest gains over the session, finished with a loss of 5.82 points, or less than 0.1%, at 21,408.52. The S&P 500 index advanced 2.25 points, or 0.1%, to close at 2,427.43, with the tech sector helping to lead the advance. Meanwhile, the Nasdaq Composite Index was the sessions best performing benchmark, closing up 23.31 points, or 0.4%, to 6,176.39, as the tech-heavy gauge added to its Friday rally following a solid reading of U.S. jobs.

Dow was weighed down by a 2.8% drop in Wal-Mart Store shares, offsetting gains of 1% or more from Visa and Nike. The lesser-weighted materials sector rose 0.6%, and the energy sector was up 0.3%.

Looking ahead to this week, a trio of banks are expected to report quarterly results, including J.P. Morgan Chase, Wells Fargo and Citigroup.

Last week, the Dow, S&P 500 and the Nasdaq Composite ended modestly higher. The three gauges have all tacked on 8% or more so far this year, but theyre trading below their record peaks hit in June.

On Friday, the closely watched nonfarm-payrolls report showed 222,000 jobs were added to the U.S. economy in June, easily beating expectations. That helped to cement views that the Federal Reserve is likely to tighten monetary policy again later in 2017. Higher interest rates can lift the appeal of holding dollars. That also means that a stronger dollar undercuts the benefit of investing in gold that is priced in the currency and doesnt offer a yield.

Reviewing Mondays economic data, it was limited to May Consumer Credit. The Consumer Credit report for May showed an increase of $18.4 billion while the consensus expected growth of $12.7 billion. The prior months credit growth was revised to $12.9 billion from $8.1 billion. Provided consumers werent making greater use of revolving credit lines to cover basic needs due to a shortfall in income, this report can ostensibly be looked upon as a good sign for the economy since the expansion of credit is an integral contributor to economic growth.

Bullion prices ended higher at Comex on Monday, 10 July 2017 at Comex. Gold saw a modest bounce back on Monday, rising after a solid U.S. jobs report issued late last week contributed to a drop in prices to their lowest level in about four months.

Gold for August delivery tacked on $3.50, or 0.3%, to settle at $1,213.20 an ounce. The metal lost 1.1% on Friday to end the session at $1,209.70. On Monday, silver for September rose 20.4 cents, or 1.3%, to end at $15.629 an ounce. The metal on Friday had briefly tumbled almost 10% in a n++flash crash,n++ likely due to a trading error.

Oil ended modestly higher on Monday, 10 July 2017 at Nymex as news that Libya and Nigeria have been invited to join OPECs meeting with other major producers later this month provided support to futures prices, which suffered from a drop of nearly 4% last week. The two countries had been exempted from the pact among major oil producers, led by the Organization of the Petroleum Exporting Countries, to limit global production and ease a glut of oil that has plagued the industry.

On the New York Mercantile Exchange, August West Texas Intermediate crude tacked on 17 cents, or 0.4%, to settle at $44.40 a barrel, after tapping a low of $43.65. September Brent on Londons ICE Futures exchange, also added 17 cents, or 0.4%, to $46.88.

The ICE Dollar Index traded flat at 95.998 on Monday as gold prices settled.

Economic data will be limited again on Tuesday with investors receiving just two reports--May Wholesale Inventories (consensus 0.3%) and May JOLTS. Both reports will be released at 10:00 ET.

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Biocon recovers after recent slide
Jul 11,2017

Meanwhile, the S&P BSE Sensex was up 76.46 points or 0.24% at 31,792.10.

On the BSE, 1.30 lakh shares were traded on the counter so far as against the average daily volumes of 1.64 lakh shares in the past one quarter. The stock had hit a high of Rs 329 and a low of Rs 323.50 so far during the day. The stock had hit a record high of Rs 396 on 25 April 2017 and a 52-week low of Rs 229.66 on 19 July 2016.

The stock had underperformed the market over the past one month till 10 July 2017, sliding 5.74% compared with the Sensexs 1.45% rise. The stock had also underperformed the market over the past one quarter, declining 12.71% as against the Sensexs 7.24% rise. The scrip had, however, outperformed the market over the past one year, advancing 32.46% as against the Sensexs 16.92% rise.

The large-cap company has equity capital of Rs 300 crore. Face value per share is Rs 5.

Shares of Biocon had fallen 5.43% in the preceding two trading sessions to settle at Rs 321.25 yesterday, 10 July 2017, from its closing of Rs 339.70 on 6 July 2017. The stock settled lower by 4.69% in a single trading session yesterday, 10 July 2017 on reports that the French health regulator found lapses in quality compliance at its Bangalore plant during a March inspection.

In a stock exchange filing on Sunday, 9 July 2017, Biocon said the French inspecting authority (ANSM) conducted pre-approval inspection audits of the companys Bangalore drug substance and drug product sites related to the pending EMA Marketing Authorization Applications for Trastuzumab, Pegfilgrastim and related to Insulin Glargine (pen assembly only).

While there were no critical observations mentioned in the final report, ANSM notified Biocon that the receipt of a GMP compliance certificate for the drug product facility will require a follow up inspection from ANSM to verify implementation of the proposed corrective and preventive actions (CAPAs).

ANSM has reviewed the proposed CAPA plan and Biocon is progressing towards completion of the implementation of these CAPAs. Biocon, with its partner Mylan, will work with the French and European regulatory authorities with regard to the follow-up inspection of the drug product facility and the Marketing Authorization Applications with the goal of an early re-inspection.

ANSM has issued GMP compliance certificates for Biocons two drug substance manufacturing facilities in Bangalore. This is important as the drug substance manufacture is core to the production of the actual biologic product in GMP compliance, Biocon said in a statement.

On a consolidated basis, net profit of Biocon declined 61.7% to Rs 127.50 crore on 1.5% decline in net sales to Rs 919.20 crore in Q4 March 2017 over Q4 March 2016.

Biocon is Indias largest and fully-integrated, innovation-led biopharmaceutical company.

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Extension of NPS Fortnight from 11th July, 2017 to 21st July, 2017
Jul 11,2017

With a view to promote and create awareness about the National Pension System (NPS) and improve the quality of services provided to the subscribers, PFRDA is observing NPS fortnight from 27th June, 2017 to 11th July, 2017 successfully. Keeping in view the demand raised by Government Nodal Offices and also benefits to the NPS subscribers, PFRDA has decided to extend the NPS Service Fortnight from 11th July, 2017 to 21st July 2017. During this extended period also all the nodal offices, Pay and Account Offices and DDOs under the Central and State Governments, Points of Presence/ banks/ aggregators/ banking correspondents etc. will be involved with the acquisition, servicing of NPS subscribers and creating awareness about the National Pension System, in a proactive manner.

NSDL has also developed an exclusive web link i.e. https://npscra.nsdl.co.in/nps.php ,which encapsulates all the information and functionalities related to NPS subscriber, including NPS Mobile App, which may be instrumental for effective & efficient use of NPS Service Fortnight.

Benefits of downloading mobile app:

The NPS Mobile APP gives details of Subscribers account online without approaching their respective nodal offices. The Subscriber can access latest account details as is available on the CRA web site using user ID (PRAN) and password. The APP gives better user experience and provides additional functionalities such as

(i) View of current Holdings viz Percentage of Asset allocation among PFMs (Unit , NAV & Amount) & total value of holdings etc.

(ii) Request for Transaction Statement for the year on your email ID.

(iii) Change of contact details like Telephone, Mobile no. and email ID.

(iv) Change of Password / Secret Question

(v) View of Accounts detail viz name, address, associated nodal office and registration no. etc.

(vi) Regeneration of password using secret question.

(vii) View of last 5 contribution transactions carried out

(viii) Processing of voluntary contributions for Tier I as well as Tier II

(ix) Modification of address using Aadhaar authentication

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Dharani Finance to hold board meeting
Jul 11,2017

Dharani Finance will hold a meeting of the Board of Directors of the Company on 15 July 2017.

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Tech Mahindra to hold board meeting
Jul 11,2017

Tech Mahindra will hold a meeting of the Board of Directors of the Company on 1 August 2017.

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NEPC Agro Foods to hold board meeting
Jul 11,2017

NEPC Agro Foods will hold a meeting of the Board of Directors of the Company on 29 July 2017.

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National Wind Power Corporation to hold board meeting
Jul 11,2017

National Wind Power Corporation will hold a meeting of the Board of Directors of the Company on 29 July 2017.

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