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Bharti Airtel in focus on pact to acquire Tikonas 4G biz
Mar 24,2017

Bharti Airtel announced that it has entered into a definitive agreement with Tikona Digital Networks (Tikona) to acquire Tikonas 4G business including broadband wireless access (BWA) spectrum and 350 sites, in five telecom circles for about Rs 1600 crore.

The acquisition will be funded in the way of cash and debt. The indicative time period for the completion of the acquisition is up to 60 days. Airtel plans to roll-out high speed 4G services on the newly acquired spectrum in the five circles immediately after the closure of the transaction. The announcement was made after market hours yesterday, 23 March 2017.

BPCL announced that the board of directors have declared second interim special dividend of Rs 12 per share for the year ending 31 March 2017 (FY 2017). The board fixed 27 March 2017 as record date to determine the eligibility of the shareholders to receive the second interim special dividend. The announcement was made after market hours yesterday, 23 March 2017.

Yes Bank announced that its capital raising committee yesterday, 23 March 2017, passed resolutions approving and adopting the preliminary placement document dated 23 March 2017, in connection with the qualified institutional placement (QIP) and authorizing the opening of the QIP on 23 March 2017. The floor price for the QIP is fixed at Rs 1,498.95 per equity share.

The bank may at its discretion offer a discount of up to 5% on the floor price in the QIP. The capital raising committee of the board of directors of the bank on 29 March 2017, would consider and determine the price for equity share of the bank to be issued in the QIP. The announcement was made after market hours yesterday, 23 March 2017.

Siemens announced that it has won an order worth about Rs 187.4 crore from Bangladesh Rural Electrification Board (BREB), Dhaka. The project includes construction of new 33/11 kV Air Insulated Switchgear substations in Dhaka, Chittagong and Sylhet. BREB is an electricity distribution provider under the Government of Bangladesh responsible for providing electricity to the rural parts of Bangladesh.

All the products and solutions delivered for the project have been manufactured in factories at Siemens India. The announcement was made after market hours yesterday, 23 March 2017.

Adani Power said it has allotted 1.73 crore equity shares upon partial conversion of the convertible warrants as earlier allotted on preferential basis to promoter group entities. The shares were allotted at Rs 32.54 per share. Subsequent to this allotment, the shareholding of the promoter and promoter group has increased to 68.08% of the enhanced paid up equity share capital of the company. The announcement was made after market hours yesterday, 23 March 2017.

Can Fin Homes announced that the board of directors of the company at a meeting held on 23 March 2017 renewed/revalidated the approval/authorizations for borrowing upto Rs 3000 crore by way of issue of non-convertible debentures on private placement basis. The announcement was made after market hours yesterday, 23 March 2017.

Himachal Futuristic Communications announced that the meeting of the debentures allotment committee of the board of directors will be held on 28 March, 2017 to consider and approve the allotment of non-convertible debentures (NCDs) aggregating to Rs 29.49 crore on private placement basis by way of conversion of outstanding right of recompense amount payable to the banks. The announcement was made after market hours yesterday, 23 March 2017.

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Hindustan Zinc may gain after boards nod for special interim dividend
Mar 23,2017

Hindustan Zinc said its board of directors at a meeting held on Wednesday, 22 March 2017, approved special interim dividend of Rs 27.50 per share for the year ending 31 March 2017 (FY 2017). The record date for the payment of interim dividend is 30 March 2017. The announcement was made after market hours yesterday, 22 March 2017.

State Bank of India (SBI) announced that it has made payment of Rs 219.93 crore (principal amount plus interest) on 22 March 2017, to the eligible bondholders of under Upper Tier-II subordinated bonds issued on 22 March 2007, by the erstwhile State Bank of Indore since merged with SBI. The announcement was made after market hours yesterday, 22 March 2017.

IndusInd Bank announced that the finance committee of the board yesterday, 22 March 2017, allotted debentures for cash aggregating to Rs 1000 crore on Private Placement basis towards non-equity regulatory Additional Tier 1 Capital (AT1 Bonds). The bonds will be listed on the wholesale debt market (WDM) segment of National Stock Exchange of India (NSE). The announcement was made after market hours yesterday, 22 March 2017.

Axis Bank announced that its board passed a resolution approving the allotment of 1 year senior fixed rate notes aggregating to $16.2 million under the MTN Programme through its Dubai International Financial Centre (DIFC) branch. The announcement was made after market hours yesterday, 22 March 2017.

Menon Bearings announced that the company has transferred its entire stake held in Flyga Auto, a wholly owned subsidiary and hence ceases to be subsidiary of the company from 22 March 2017. The announcement was made after market hours yesterday, 22 March 2017.

Flyga Auto was incorporated on 30 September 2016 and is yet to commence commercial operations. The consideration received from sale in Rs 3.67 crore. The shares are transferred to promoters and promoter group members, namely, Nitin Menon, Sucheta Menon, Aditya Menon and Anshul Menon.

HIL said that the company is holding 33% stake in Supercor Industries, Nigeria as a joint venture between the company and other shareholders including State Government of Bauchi. The JV is under losses since 2014 and facing cash crisis and could not meet their routine obligation of paying salaries/wages and other payments and is under winding up proceedings under the Courts of Nigeria. In view of the above mentioned reasons, company is unable to consolidate the financial statements of its overseas joint venture with the financial statements of company. The announcement was made after market hours yesterday, 22 March 2017.

Hindustan Composites announced that a meeting of the board of directors of the company is scheduled to be held on 10 April 2017, to consider further issue of shares by way of bonus shares, to consider the sub division of face value of equity shares of the company and to consider seeking approval of the shareholders of the company through postal ballot process for the same. The announcement was made after market hours yesterday, 22 March 2017.

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HUL in focus after commencing commercial production at Assam unit
Mar 22,2017

Hindustan Unilever (HUL) announced that it has commenced the commercial production in its new manufacturing unit at Assam on 15 March 2017. The announcement was made after market hours yesterday, 21 March 2017. The company had earlier informed about setting up new manufacturing unit in Assam to augment the production capacity of personal care products of the company.

Indiabulls Housing Finance announced that it has allotted its seventh tranche of secured, redeemable, non-convertible debentures of face value Rs 10 lakh each (NCDs) aggregating Rs 600 crore i.e. Rs 500 crore plus Greenshoe option of Rs 100 crore. The announcement was made after market hours yesterday, 21 March 2017.

Mawana Sugars announced that the board of directors of the company, vide resolution dated 21 March 2017, has agreed to enter into one time settlement (OTS) with Punjab National Bank (PNB) Muzaffarnagar, Uttar Pradesh. The purpose of the OTS was for resolution of non performing asset (NPA) debt. The company settled total memoranda dues of Rs 109.46 crores (as per PNB), for a consolidated agreed amount of Rs 79.79 crore, payable over 15 month without interest. The announcement was made after market hours yesterday, 21 March 2017.

ABC Bearings announced that it has sold its entire 2.5% equity stake in NSK-ABC Bearings Private Ltd (NABI) to NSK India Sales Company Pvt. Ltd, pursuant to the terms of a share purchase agreement dated 21st March 2017 entered into between ABC, NABI, NSK and the purchaser. The announcement was made after market hours yesterday, 21 March 2017.

Dena Bank announced that the board of directors of the bank approved raising of share capital of the bank upto an amount of Rs 800 crore. The capital will be raised by issue of shares to Government of India upto an amount of Rs 600 crore, by issue of shares to LIC of India upto an amount of Rs 180 crore and to GIC of India upto an amount of Rs 20 crore on preferential issue basis. The announcement was made after market hours yesterday, 21 March 2017.

Wockhardt announced that abbreviated new drug application (ANDA) of Piperacillin and Tazobactam for Injection USP, 40.5 g/vial, pharmacy bulk package submitted by Wockhardt Bio AG, subsidiary of the company has been approved by US Food and Drug Administration (USFDA). Wockhardts ANDA was determined to be therapeutically equivalent to the reference listed drug (RLD) Zosyn for Injection 40.5g/vial, pharmacy bulk package of Wyeth Pharmaceuticals Inc.

Wockhardt Bio AG had filed this ANDA in collaboration with Fresinius Kabi, Italy (FKAI), where the product development was completed. The ANDA will be manufactured commercially at FKAI, Mitim, Italy. The announcement was made after market hours yesterday, 21 March 2017.

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Avenue Supermarts may garner steep premium on debut
Mar 21,2017

Shares of Avenue Supermarts gets listed on the stock exchanges today, 21 March 2017. The issue price was fixed at Rs 299 per share, the top end of the IPO price band of Rs 295 to Rs 299 per share. The IPO of Avenue Supermarts received strong response from investors. It was subscribed a whopping 105 times. Avenue Supermarts is an emerging national supermarket chain. The companys stores operate under the D-Mart brand, registered as a trademark under various classes of products.

HCL Technologies said that it has been chosen as the strategic IT services provider to the Volvo Ocean Race. HCL will be responsible for developing and delivering IT solutions for the 2017-18 edition of the race around the world. The Volvo Ocean Race held every three years witnesses the coming together of the best sailors across the world. The announcement was made after market hours yesterday, 20 March 2017.

Separately, HCL Technologies announced that its board approved buyback of up to 3.50 crore fully paid-up equity shares of the company at Rs 1000 per share for an aggregate amount not exceeding Rs 3500 crore. The buyback is proposed to be made from the shareholders of the company on a proportionate basis, through the tender offer route. The announcement was made after market hours yesterday, 20 March 2017.

Aurobindo Pharma announced that it has received final approval from the US Food & Drug Administration (USFDA) to manufacture Guaifenesin and Dextromethorphan Hydrobromide extended-release tablets, 600/30 mg and 1200/60mg (OTC). Aurobindos Guaifenesin and Dextromethorphan Hydrobromide extended-release tablets are the AB rated generic equivalent of Reckitt Benckisers Mucinex DM tablets. The product will be launched in Q1 FY2018.

Guaifenesin and Dextromethorphan Hydrobromide extended-release tablets helps loosen mucus and phlegm, and thin out bronchial secretions, making coughs more productive. The approved product has an estimated market size of $235 million for the twelve months ended December 2016, according to IRI database. The announcement was made after market hours yesterday, 20 March 2017.

Future Enterprises announced that the committee of directors of the company at its meeting held 20 March 2017, allotted of 1,406, 9.6% secured redeemable non-convertible debentures (NCDs) and 2,114, 9.6% secured redeemable NCDs aggregating to Rs 352 crore, on private placement basis. The announcement was made after market hours yesterday, 20 March 2017.

Havells India announced that it has commenced the commercial production of its plant situated at District- Kamrup(Rural), Assam, with effect from 20 March 2017. The announcement was made after market hours yesterday, 20 March 2017.

Kaveri Seed Company announced that a meeting of the board of directors of the company will be held on 27 March 2017, to consider a proposal for share buyback. The announcement was made after market hours yesterday, 20 March 2017.

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Indian Bank in focus after board approves fund raising
Mar 20,2017

Indian Bank announced on Saturday, 18 March 2017, that its board approved to raise capital by issuing 4.75 crore equity shares through follow-on issue/rights issue/private placement /qualified institutional placement (QIP)/preferential issue, subject to necessary approval from Reserve Bank of India, Government of India, shareholders of the bank and other regulatory authorities, at appropriate time.

Dena Bank announced after market hours on Friday, 17 March 2017, that it received a communication from Government of India informing capital allocation of Rs 600 crore as part of turnaround linked infusion plan. The board approval for raising of capital of the bank through issue of equity shares to Government of India, LIC of India and GIC of India on preferential basis, is being obtained.

Key IT stocks will in focus after media reports suggested that Cognizant may cut at least 6,000 jobs, which represents 2.3% of its total workforce, as it struggles with growth in an IT environment that is fast shifting towards new digital services. The layoffs are likely to be more this year than the routine annual exercise.

NTPC announced on Sunday, 19 March 2017, that second unit of 660 MW of Mouda Super Thermal Power Station Stage-II (2 X 660 MW) has been commissioned. With this, the commissioned capacity of Mouda Super Thermal Power Station, NTPC and NTPC group has become 2320 MW, 41907 MW and 48873 MW respectively.

NTPC announced on Saturday, 18 March 2017, that first unit of 195 megawatts (MW) of Kanti Thermal Power Station Stage-II (2 X 195 MW) of Kanti Bijlee Utpadan Nigam (a subsidiary of NTPC) is declared on commercial operation from 00:00 Hrs of 18 March 2017. Separately, NTPC announced on Saturday, 18 March 2017, that 25 MW of Bhadla Solar Power Project of NTPC has been commissioned. With this, the installed capacity of Bhadla Solar Power project has become 185 MW and that of NTPCs solar power projects has become 545 MW.

Welspun India announced on Saturday, 18 March 2017, that it has forayed into new technologies in its technical textile business with its needle entangled advance textile plant in Anjar. The plant was inaugurated on 18 March 2017. The Rs 150 crore facility, will have unique capabilities of spun lace and needle punch lines which can manufacture multilayer composites for various applications. This advanced and innovative technology will provide non-woven solutions for high-end industrial applications such as filtration, acoustics, automotive, fire safety, thermal insulation, vibration control, noise control, aero-space, defence and mass transportation. The initial capacity of the manufacturing unit will be 2,400 MT per annum. With this facility, Welspun has also invested in a wide range of finishing technologies which include coating, laminating, dyeing, and printing to provide innovative solutions; all under one roof. Further, Welspun has invested Rs 100 crore to set up a fresh state- of- the-art fully automated cut and sew unit in the made-ups segment with a capacity of 10 mn units per annum. The new initiatives are a testimony of Welspuns commitment in enhancing employment opportunities in the region, particularly for the women workforce.

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Lupin in spotlight after launching generic contraceptive pill in US
Mar 17,2017

Lupin announced the launch of Mibelas 24 Fe (Norethindrone Acetate and Ethinyl Estradiol Chewable Tablets, 1mg/0.02mg and Ferrous Fumarate Tablets, 75mg) having received an approval from the United States Food and Drug Administration (FDA) earlier. The announcement was made after market hours yesterday, 16 March 2017.

Lupins Mibelas 24 Fe is the AB rated generic equivalent of Allergan Pharmaceuticals Internationals Minastrin 24 Fe Tablets. It is indicated for use by females of reproductive age to prevent pregnancy. Minastrin 24 Fe chewable tablets had US sales of $360.5 million as per IMS MAT December 2016.

Shoppers Stop announced that it has opened its Shoppers Stop store at Nucleus Mall, Ranchi. With this, the company has now 80 Shoppers Stop (including six airport stores) stores under its operations. The announcement was made after market hours yesterday, 16 March 2017.

Nocil announced that its board at a meeting held on 16 March 2017, approved expansion of capacities of rubber chemicals and their intermediates at the companys plants situated at Navi Mumbai and Dahej. The total capital expenditure envisaged is about Rs 170 crore. The expansion project is likely to be commissioned by the end of Q2 of FY 2019. The capital expenditure will be financed largely through internal accruals. The announcement was made after market hours yesterday, 16 March 2017.

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Music Broadcast to list today
Mar 17,2017

Music Broadcast debuts on the secondary equity market today, 17 March 2017. The company priced the initial public offer (IPO) at Rs 333 per share, the top end of the Rs 324 - Rs 333 price band. The IPO of Music Broadcast ended with strong response from investors. The IPO received bids for 41.58 crore shares compared with 1.04 crore shares on offer. The IPO was subscribed 39.67 times. The issue opened for bidding on 6 March 2017. It closed on 8 March 2017. Music Broadcast, promoted by Jagran Prakashan, operates radio stations under the brand Radio City.

Lupin announced the launch of Mibelas 24 Fe (Norethindrone Acetate and Ethinyl Estradiol Chewable Tablets, 1mg/0.02mg and Ferrous Fumarate Tablets, 75mg) having received an approval from the United States Food and Drug Administration (FDA) earlier. Lupins Mibelas 24 Fe is the AB rated generic equivalent of Allergan Pharmaceuticals Internationals Minastrin 24 Fe Tablets. It is indicated for use by females of reproductive age to prevent pregnancy. Minastrin 24 Fe chewable tablets had US sales of $360.5 million as per IMS MAT December 2016. The announcement was made after market hours yesterday, 16 March 2017.

Reliance Infrastructure announced that its board has approved raising upto Rs 2000 crore by issuing equity shares/other securities convertible into equity shares through qualified institutional placement (QIP), subject to approval of the shareholders of the company. The funds raised from the proposed QIP would be utilized for capitalising on business opportunities in the defence sector, for reduction of debt and for general corporate purposes. The board has also approved the postal ballot notice seeking approval of the shareholders of the company for the said QIP. The announcement was made after market hours yesterday, 16 March 2017.

Shoppers Stop announced that it has opened its Shoppers Stop store at Nucleus Mall, Ranchi. With this, the company has now 80 Shoppers Stop (including six airport stores) stores under its operations. The announcement was made after market hours yesterday, 16 March 2017.

Nocil announced that its board at a meeting held on 16 March 2017, approved expansion of capacities of rubber chemicals and their intermediates at the companys plants situated at Navi Mumbai and Dahej. The total capital expenditure envisaged is about Rs 170 crore. The expansion project is likely to be commissioned by the end of Q2 of FY 2019. The capital expenditure will be financed largely through internal accruals. The announcement was made after market hours yesterday, 16 March 2017.

ABG Shipyard will be in focus. With reference to news report titled, Reliance Defence expresses interest in buying Agreed Assests of ABG Shipyard, ABG Shipyard clarified after market hours after market hours yesterday, 16 March 2017, that lenders have invited expression of interest for acquisition of majority shareholding in ABG Shipyard. Accordingly, few parties have expressed their interest. Information/details will be submitted to the Stock Exchanges on completion of the process. The company does not have any information which is required to be disclosed to stock exchanges in terms of SEBI (LODR) Regulations, 2015, it said in a statement.

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HCL Technologies in focus as board to consider buyback
Mar 16,2017

Shares of HCL Technologies will be in focus after the company said that a meeting of the board of directors of the company will be held on Monday, 20 March 2017, to consider, a proposal for buyback of the equity shares of the company. The announcement was made after market hours yesterday, 15 March 2017.

Wipro announced the opening of an Automotive Engineering Center (AEC) in Detroit. The center aims to drive innovation in connected vehicle concepts - design, product engineering, digital customer-vehicle experiences, artificial intelligence, and sensors-driven advanced vehicle data analytics. The announcement was made after market hours yesterday, 15 March 2017.

The Wipros AEC is part of the companys vision to build a global network of delivery centers that offer best-in-class engineering and IT services, augmented by leading-edge automotive domain and digital solutions. The center will serve as a hub to support the automotive engineering and IT requirements of original equipment manufacturers (OEMs) and tier-I suppliers, based in North America.

Zee Entertainment Enterprises said that the companys board of directors has approved acquisition of 80% stake in technology startup Margo Networks for Rs 75 crore. The announcement was made after market hours yesterday, 15 March 2017.

Shares of Idea Cellular will be in focus after the company in clarification to reports about Idea to demerge tower business portfolio and sell majority stake in ATC, replied that there was no such proposal to sell majority stake in tower business. The announcement was made after market hours yesterday, 15 March 2017.

Container Corporation of India said that the company has fixed 6 April 2017 as the record date for ascertaining the eligibility of shareholders for issuance of bonus shares in the ratio of 1:4 (one bonus share for every four shares held). The announcement was made after market hours yesterday, 15 March 2017.

Beardsell announced that its board at its meeting held on 15 March 2017, approved 5-for-1 stock split. The board approved issue of bonus shares in the ratio of one equity share of face value of Rs 2 each for every five existing equity shares of Rs 2 each (post stock split). The announcement was made after market hours yesterday, 15 March 2017.

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TCS will be watched after Israels Bank Yahav deploys TCS BaNCS
Mar 15,2017

TCS announced that its customer, Bank Yahav, is successfully operational with the TCS BaNCS Univeral Banking platform, in a first of its kind for the Israeli market. The announcement was made after market hours yesterday, 14 March 2017.

Wipro announced the launch of the Wipro HOLMES Cloud BOT - a continuously learning digital consultant, that leverages Wipros BoundaryLess Data Center solution. The Wipro HOLMES Cloud BOT uses a gamified natural language processing (NLP)-based chat interface to have an intelligent interaction with stakeholders to enrich the data for cloud analysis. The announcement was made after market hours yesterday, 14 March 2017.

Larsen & Toubro (L&T) said that L&T Realty has executed share purchase deal for selling its entire stake of 51% in L&T South City Projects to Pragnya Group for a consideration of Rs 190 crore. L&T South City Projects is engaged in the development of a 92-acre residential township at Siruseri, Chennai. The announcement was made after market hours yesterday, 14 March 2017.

Engineers India said that its board will meet on Monday, 20 March, 2017, to consider the proposal for buyback of fully paid up equity shares of the company. The announcement was made after market hours yesterday, 14 March 2017.

Tata Chemicals announced that the Central Pollution Control Board (CPCB) has directed the company to shut down its fertilizer plant in Haldia (West Bengal) for violating liquid waste discharge rules. The CPCB directive follows an analysis of the companys samples, which showed a non-compliance in effluent discharge norms. The company said that it has written to the CPCB to rescind the order after an independent lab confirmed that its samples comply with prescribed norms. The company told the CPCB that the report by the independent lab was also approved by the West Bengal Pollution Control Board and the ministry of environment and forests. The announcement was made after market hours yesterday, 14 March 2017.

Bank of Baroda (BoB) said that the capital raising committee of the board approved raising funds through issuance of Basel III compliant Additional Tier-I bonds (perpetual debt instrument) amounting to Rs 500 crore with green shoe option of Rs 500 crore. In a stock exchange notification, the bank said the issuance will be on private placement basis depending on market conditions. The announcement was made after market hours yesterday, 14 March 2017.

TVS Motor Company said it has launched its BSIV compliant TVS Jupiter and added two new colours - Jade Green and Mystic Gold. The refreshed scooter is now BSIV compliant, with auto headlamp on (AHO) and equipped with sync braking system (SBS). The announcement was made after market hours yesterday, 14 March 2017. SBS ensures rider safety as it automatically activates the front brakes when the rear brakes are used. The feature, previously available on ZX range will now be available on the base variant as well, TVS Motor said. There is no revision in the prices for the BSIV models of Jupiter, priced at Rs 49,666 (ex-showroom Delhi), the scooter is available across all TVS dealerships, the company said.

Rupa & Company announced that Oban Fashions, one of the companys subsidiaries, concluded a deal with the US-based Fruit of the Loom Inc, a unit of Warren Buffets Berkshire Hathaway Co., to manufacture and sell products in India under the US companys brands. Fruit of the Loom sells a wide range of underwear and casual wear in the US and Europe. The announcement was made after market hours yesterday, 14 March 2017.

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ACC in focus after selling shares in Shiva Cements
Mar 14,2017

Cement major ACC announced that it has on 9 March 2017, sold its entire 12.13% stake in Shiva Cement, comprising 2.36 crore shares, at a total consideration of Rs 38.66 crore to JSW Cement. The open market transaction took place at Rs 16.35 per share. The announcement was made after market hours on Friday, 10 March 2017. The transaction is part of an earlier share purchase agreement (SPA) dated 15 February 2017, entered into between the company and JSW Cement. ACC was holding 12.13% in Shiva Cement in the public shareholders (non-promoter) category.

Shiva Cement had executed a SPA with JSW Cement in January this year for sale of shares held by the promoters of Shiva Cement, followed by an open offer to the public shareholders of Shiva Cement, to enable JSW Cement to get a controlling stake in the Odisha-based company. JSW Cement had agreed to buy a 35.6% stake from Shiva Cements promoters for Rs 97.24 crore. Further, JSW Cement had made an open offer to the public equity shareholders of Shiva Cement to acquire up to 6.24 crore fully paid-up equity shares, constituting 32% of the total fully diluted voting equity share capital of the company.

The total promoter holding in Shiva Cement end December 2016 stood at 35.62%. Shiva Cement runs an integrated plant near Rourkela in Odisha. It sells cement under the Sumangal brand and caters primarily to the eastern states.

Power Grid Corporation of India (PGCIL) said that its board of directors at a meeting held on Friday, 10 March 2017, accorded approval for various investment proposals aggregating to Rs 1197.10 crore. The announcement was made on Saturday, 11 March 2017.

NBCC (India) announced that the company has signed an agreement on Friday 10 March 2017, with the State of Mauritius (Government of Mauritius) and Landscope (Mauritius) for construction of new supreme court building on PMC basis in Mauritius. The approximate value of the project is Rs 250 crore having completion period of 24 months. The announcement was made after market hours on Friday, 10 March 2017.

Alkem Laboratories announced that US Food and Drug Administration (USFDA) had conducted an inspection at the companys manufacturing facilities located at Baddi from 2 March 2017 to 10 March 2017. The company has received the inspection report which contains three 483 observations. Alkem said it shall put together a detailed response with adequate corrective and preventive measures to address the USFDA observations and the same is proposed to be filed within the timeline stipulated by USFDA. The announcement was made after market hours on Friday, 10 March 2017.

Karnataka Bank announced that the bank entered into Memorandum of Understanding with Bajaj Allianz General Insurance Company (BAGICL) for general insurance business. Karnataka Banks Managing Director & CEO P Jayarma Bhat said the bank will be able to provide vast choice of non-life insurance products to its customers across all its 747 branches, supported by the customer centric products of BAGICL. The announcement was made after market hours on Friday, 10 March 2017.

Bombay Burmah Trading Corporation announced that the company has issued commercial paper for an aggregate amount of Rs 50 crore on 10 March 2017 for 90 days and having maturity on 8 June 2017. India Ratings & Research has granted rating of A1+ for issue of commercial paper by the company. The announcement was made after market hours on Friday, 10 March 2017.

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Tata Motors in spotlight after declaring global wholesales for February 2017
Mar 10,2017

Shares of Tata Motors will be watched. The Tata Motors Group global wholesales, including Jaguar Land Rover (JLR), rose 3% to 1.03 lakh units in February 2017 over in February 2016. Global wholesales of all Tata Motors commercial vehicles and Tata Daewoo range were flat at 36,057 units in February 2017 over in February 2016. Global wholesales of all passenger vehicles rose 5% to 67,007 units in February 2017 over in February 2016. Global wholesales for Jaguar Land Rover were 54,576 vehicles (Contains CJLR volume of 5,268 units in February 2017). CJLR is a joint venture between JLR and Chery Automobiles and is an unconsolidated subsidiary for JLR. Jaguar wholesales for the month were 16,096 vehicles, while Land Rover wholesales for the month were 38,480 vehicles. The announcement was made after market hours yesterday, 9 March 2017.

Shares of ICICI Bank will be in focus after the Committee of Executive Directors of the bank at its meeting held yesterday, 9 March 2017 approved the proposal for fund raising by way of issuance of Basel III compliant unsecured subordinated perpetual Additional Tier 1 Bonds in single/multiple tranches in any currency through public/private placement on terms as may be decided at the time of issuance. The announcement was made after market hours yesterday, 9 March 2017.

Hindalco Industries announced after market hours yesterday, 9 March 2017, that the capital raising committee of the board of directors of the company at the meeting held yesterday, 9 March 2017, approved allotment of 17.68 crore equity shares to qualified institutional buyers at Rs 189.45 each. The company recently concluded its qualified institutional placement (QIP) of shares.

Varun Beverages said it has divested 41% stake in its subsidiary Varun Beverages Mozambique, which contributed 0.6% to its net revenue in 2016. The divestment was done keeping in perspective the limited opportunity to scale up the operations of the loss-making subsidiary, the company said. However, it will continue to hold 10% residual stake in the unit, it said. For 2016, the subsidiary recorded a loss of Rs 9.9 crore. The announcement was made after market hours yesterday, 9 March 2017.

The board of directors of Kirloskar Ferrous Industries at its meeting held on 28 July 2016 had granted its in-principle approval for acquisition of movable and immovable assets relating to the pig iron plant VSL Steels for a cash consideration of Rs 155 crore. However, on account of certain ongoing disputes between VSL Steels and one of its related parties, the proposed transaction has not been completed till date. Consequently, in view of the unaccounted delays caused by the pending disputes, the board of directors of the company at its meeting held yesterday, 9 March 2017 has resolved to not to proceed with the proposed transaction. The announcement was made after market hours yesterday, 9 March 2017.

A2Z Infra Engineering has been awarded three contracts from Chhattisgarh State Power Distribution Company (CSPDCL). The aggregate value of the contracts is Rs 222.57 crore for execution of works for supply of material and erection of lines & substations under IPDS of Durg, Raipur and Bilaspur Region in Chhattisgarh. The announcement was made after market hours yesterday, 9 March 2017.

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Kotak Mahindra Bank in focus as Uday Kotak pares stake
Mar 09,2017

Shares of Kotak Mahindra Bank will be in focus after Canadian pensions funds Canada Pension Plan Investment Board (CPPIB) and Caisse De Depot ET Placement DU Quebec (CDPQ) have bought 1.5% stake in the bank from Uday Kotak, its executive vice-chairman and managing director. CPPIB bought 92 lakh shares at Rs 817 per share in a bulk deal on BSE yesterday, 8 March 2017. CDPQ bought 1.84 crore shares at Rs 817 per share in a bulk deal on BSE yesterday, 8 March 2017. Uday Suresh Kotak sold 2.76 crore shares at Rs 817 per share in a bulk deal on BSE yesterday, 8 March 2017. Uday Kotak held 33.3% stake in Kotak Mahindra Bank (as per the shareholding pattern as on 31 December 2016).

Wipro announced after market hours yesterday, 8 March 2017, that it has become a member of the LoRa Alliance, one of the fastest growing Internet of Things (loT) alliances with over 400 members. This membership will help Wipro accelerate its Internet of Things (IoT) solution deployments, using Low Power Wide Area Networks (LPWAN) technology for customers across industry sectors such as energy, utilities, natural resources, smart cities, ports, and logistics.

Shares of Welspun Enterprises will be in focus after the company said that Welspun Energy has completed sale of entire investment of the company i.e. 6.04 crore equity shares representing 15.49% in the paid up equity share capital of Welspun Energy at a consideration of Rs 285.80 crore. Further consideration is contingent upon occurrence of certain future events. The announcement was made after market hours yesterday, 8 March 2017.

Shares of Shree Renuka Sugars will be in focus after the company said that as per the rectification package approved by the Joint Lenders Forum (JLF) under the Corrective Action Plan, the allotment committee of the board of directors of the company has approved the allotment of 1.64 crore equity shares at Rs 16.56 per share to Standard Chartered Bank (SCB), one of the JLF Lenders in lieu of and against the conversion of a part of the loans availed by the company from SCB. The announcement was made after market hours yesterday, 8 March 2017.

Tamil Nadu Newsprint & Papers said that due to water shortage, the company has stopped production in Paper Machine II (PM II), in Unit I (Karur) from 7 March 2017 afternoon. The other two paper machines are in operation. The production in PM II will be resumed on availability of water. The announcement was made after market hours yesterday, 8 March 2017.

Bharat Financial Inclusion will be watched. With reference to news item captioned, n++Bharat Fin Close to merger deal with IndusInd Bank and merger ratio decided to be 10:7, Bharat Financial Inclusion clarified after market hours yesterday, 8 March 2017, that the news item is merely market speculation. As informed earlier, the company has been exploring various options from time to time and will make an announcement in accordance with the relevant regulations as and when a transaction, if any, is approved by the board.

Bombay Burmah Trading Corporation announced after market hours yesterday, 8 March 2017, that a meeting of the finance committee of the board of directors of the corporation will be held on 14 March 2017, to consider the proposal for issue of secured, listed, redeemable, non-convertible debentures (NCDs) upto Rs 150 crore for cash, at par, to be issued on private placement basis and to be listed on the wholesale debt market segment of the BSE.

MTNL will be watched. With reference to news item captioned, BSNL, MTNL merger plan back on discussion table, clarified after market hours yesterday, 8 March 2017, that the company was not aware of any such news. As and when any such direction/proposal comes from the Department of Telecommunications (DoT), the company will inform the stock exchanges accordingly.

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Hero MotoCorp in focus after announcing interim dividend
Mar 08,2017

Hero MotoCorp announced after market hours yesterday, 7 March 2017, that the board of directors of the company at its meeting held on 7 March 2017, declared interim dividend of Rs 55 per equity share of Rs 2 each for the financial year 2016-2017. The board has fixed 18 March 2017 as record date for payment of interim dividend. The payment of interim dividend will be completed by 5 April 2017.

Infosys announced after market hours yesterday, 7 March 2017, that Algerias The Housing Bank has selected lnfosys Fn++nacle to power its operations. The Housing Bank, one of the most respected banks in the Middle East, and Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, announced the selection of the Finacle suite of solutions to power the banks operations in Algeria.

The Housing Bank Algeria is one among the 22 private & public banks in the country, and provides its banking operation through a network of 7 branches distributed among cities of Algiers. Finacle is a universal banking solution from EdgeVerve Systems, a wholly owned product subsidiary of Infosys.

Tata Steel will be watched. Tata Steel UK yesterday, 7 March 2017, informed employees it will close the British Steel Pension Scheme to future accrual with effect from 31 March 2017. From 1 April 2017, employees will save for their retirement through a new and competitive defined contribution pension scheme.

Tata Steel UK continues to be deeply engaged with the pension scheme trustee, the trade unions and relevant regulatory and government bodies to identify the best prospects for the future sustainability of its UK operations and a fair and practical outcome for the members of the British Steel Pension Scheme, a press release said. The company believes that finding a structural solution to address the risks from the pension scheme to the viability of the business is a crucial part of its ongoing UK transformation plan. The announcement was made after market hours yesterday, 7 March 2017.

Wockhardt announced that the Health Products Regulatory Authority of Ireland (HPRA) inspected the companys Shendra facility in Aurangabad and has recommended the renewal of certificate based on the general compliance with the principles and guidelines of Good Manufacturing Practice of the Shendra manufacturing unit. The announcement was made after market hours yesterday, 7 March 2017.

Central Bank of India said it successfully raised Rs 500 crore and have allotted 5000 bonds of Rs 10 lakh each. The announcement was made after market hours yesterday, 7 March 2017.

Dilip Buildcon said that the company has acquired 100% equity shares of Bhavya Infra & Systems. By the virtue of the acquisition Bhavya Infra & Systems has become a wholly owned subsidiary of the company. The announcement was made after market hours yesterday, 7 March 2017.

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PNC Infratech in focus after being declared as lowest bidder for highway project
Mar 07,2017

PNC Infratech was declared the L1 (lowest) bidder for NHAI project of six laning Chitradurga - Davanagere including Chitradurga bypass, design chainage km 0.000 to km 20.700 and Km 208.000 to km 260 of NH 48 (Old NH-4) in the state of Karnataka under NHDP V, to be executed on Hybrid Annuity Mode for a bid project cost of Rs 1434 crore. Four firms participated in the bidding and the price bids were opened on 6 March 2017, with PNCs bid being the lowest (L1). This is the second hybrid annuity project won by PNC having construction period of 2 n++ years and operation period of 15 years.

Bharat Electronics has fixed 17 March 2017 as record date for its 10-for-1 stock-split proposal. The announcement was made after market hours yesterday, 6 March 2017.

Tech Mahindra said it will buy US-based healthcare provider CJS Solutions Group for an enterprise value of $110 million. The deal includes an upfront cash payment of $89.5 million to buy an 84.7% stake in CJS with the remaining 15.3% to be acquired over three years, the company said in a press release. The transaction is expected to close before the end of April 2017. The announcement was made after market hours yesterday, 6 March 2017.

Coal Indias board of directors yesterday, 6 March 2017, approved payment of interim dividend of Rs 18.75 per share for the year ending 31 March 2017 (FY 2017). The record date for the interim dividend is 15 March 2017. The announcement was made after market hours yesterday, 6 March 2017.

Arfin India said it bagged an order worth around Rs 107 crore from JSW Steel for supplying its three units located at Bellary, Dolvi and Salem for the financial year 2017-2018. The announcement was made after market hours yesterday, 6 March 2017.

Central Bank of India said that ICRA has revised its rating on banks bonds. ICRA has revised the banks lower tier II bonds - credit rating to [ICRA]A+ (outlook : negative) from [ICRA]AA- (outlook : negative). The rating on upper tier II bonds - credit rating was revised to [ICRA]A (outlook : negative) from [ICRA]A+ (outlook : negative). The rating downgrade factors the continuing deterioration in asset quality, poor financial results for past three quarters upto Q3 December 2016 wherein the bank had to make large provision towards NPAs, and their effect on capital adequacy ratio. The announcement was made after market hours yesterday, 6 March 2017.

Cairn India said it has appointed senior oil & gas advisors, Melody Meyer and Atul Gupta. These senior leaders bring on board more than 70 years of combined experience across oil & gas conglomerates such as Chevron, Petrofina and Burren Energy, across geographies as diverse as Middle East, Central Asia and Alaska. They will provide strategic direction and delivery focus to Cairn India, as the company embarks upon its growth journey of contributing to 50% of Indias overall crude production, through 5 billion barrels of oil equivalent reserves and growing and sustaining production at 300,000 barrels of oil and oil equivalent per day. The announcement was made after market hours yesterday, 6 March 2017.

Mangalore Chemicals & Fertilizers said it has completed the reassessed capacity of urea production for the financial year 2016-2017, as fixed by the Department of Fertilizers (DoF), Government of India. The company is also carrying out annual maintenance of its plants. In view of this, the company has shutdown its ammonia, urea and ABC plants from 3 March 2017. The company will inform once it resumes operations of these plants. The announcement was made after market hours yesterday, 6 March 2017.

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Bharti Airtel in focus on entering into an agreement with Millicom to merge telecom operations in Ghana
Mar 06,2017

Bharti Airtel and Millicom International Cellular SA announced that they have through their respective subsidiaries entered into an agreement for Tigo Ghana and Airtel Ghana to combine their operations in Ghana. As per the agreement, Airtel and Millicom would have equal ownership and governance rights in the combined entity. The announcement was made after market hours on Friday, 3 March 2017.

The combined business would serve nearly 10 million customers, of which 5.6 million are data customers. It would cover more than 80% of Ghanas population with high speed data and would have revenues close to $300 million, making it one of the largest communications companies in Ghana, Airtel said.

Cipla announced that it has entered into agreements, through its Wholly Owned Subsidiary Inyanga Trading 386 Proprietary (Inyanga), with the group companies of Ascendis Health, South Africa for divesting its animal health business in South Africa and Sub-Saharan Africa. The announcement was made on Saturday, 4 March 2017.

Under the agreements, Cipla will divest its 100% stake in Cipla Agrimed Proprietary (Cipla Agrimed), South Africa and Cipla Vet Proprietary (Cipla Vet), South Africa. The total consideration of transaction would be ZAR 375 million with potential revision linked to FY2017 performance along with customary adjustment (within the price band of R250m and R500m) in relation working capital and net debt/cash adjustments. The deal is subject to customary closing conditions including approval from competition commission of South Africa and is expected to close in the next 3 months.

Dr Reddys Laboratories has announced the completion of the acquisition of 100% stake in Imperial Credit, a non-banking finance company, based in Kolkata, for a consideration of Rs 2.05 crore. The acquisition process was consummated on receipt of applicable regulatory approvals. The company proposes to undertake the groups captive financial activities through this entity. The announcement was made after market hours on Friday, 3 March 2017.

IndusInd Bank opened a new branch in Gurgaon to expand presence across Haryana. IndusInd Bank had recently inaugurated a branch in Gurgaon, one of the leading financial and industrial hubs in India. With the inauguration of this branch, the bank now has 29 branches in Gurgaon city. The announcement was made after market hours on Friday, 3 March 2017.

Punjab National Bank said that it has raised Rs 1500 crore Additional Tier I (Basel III Compliant) Capital Bonds at a coupon rate of 8.95% per annum, payable semi - annually on private placement basis on 3 March 2017. The announcement was made after market hours on Friday, 3 March 2017.

Shares of Jagran Prakashan will be in focus as the initial public offer (IPO) of Music Broadcast will open for subscription today, 6 March 2017. The price band for the IPO is Rs 324 to Rs 333 per share. The IPO closes on 8 March 2017. Music Broadcast, promoted by Jagran Prakashan, operates radio stations under the brand Radio City.

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