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Adani Ports may gain on fund raising plan
Jun 23,2017

Adani Ports & Special Economic Zone said that its finance committee approved the issuance of fixed rate senior unsecured notes aggregating $500 million and has approved the pricing tenure and other terms of the note. The notes will mature on 30 July 2017. The announcement was made after market hours yesterday, 22 June 2017.

HDFC has executed a subscription agreement with International Finance Corporation (IFC), Washington whereby IFC would subscribe to the rupee denominated bonds to be issued overseas by the company upto an amount of Rs 1300 crore, subject to the approval of the Reserve Bank of India. The announcement was made after market hours yesterday, 22 June 2017.

V-Mart Retail has opened two stores in the State of Uttar Pradesh and Madhya Pradesh. With this, the total number of stores increases to 148 stores. The announcement was made after market hours yesterday, 22 June 2017.

La Opala RG announced that suspension of activities at the companys Madhupur plant has been lifted, following an amicable settlement with the Workers Union on 21 June 2017. The operations at the plant are expected to resume gradually on a planned basis, which will reach full normalcy by 10 July 2017. The announcement was made after market hours yesterday, 22 June 2017.

Quess Corp has signed the definitive agreements to acquire 46% equity in Heptagon Technologies, on 21 June 2017. The transaction entails a cash consideration of Rs 9.77 crore.

Separately, Quess Corp announced that on 21 June 2017 Quesscorp Holdings, wholly owned subsidiary of the company has entered into definitive agreement to acquire 51% shareholding in Comtel Pro, a private limited company incorporated under the laws of Singapore. The announcement was made after market hours yesterday, 22 June 2017.

Shriram EPC announced that it has won multiple orders under its water management business amounting to Rs 165 crore. The announcement was made after market hours yesterday, 22 June 2017.

The first order amounting to Rs 83.37 crore from City Corporation Davanagere, involves designing, building and improving bulk water supply for 24X7 water supply to Davanagere city and O&M of the Bulk Water Supply Scheme for 3 months. The ADB funded project is to be executed over a period of 30 months with 3 months for O&M.

The second order amounting to Rs 82.56 crore from Tamil Nadu Water Supply & Drainage Board (TWAD Board) entails implementation of Water supply scheme in Hosur Municipal Corporation, Krishnagiri district. The order is to be executed over a period of 24 months.

Sakthi Sugars announced that consequent to issue and allotment of further equity shares by Sakthi Auto Component (SACL) Associate Company, the Companys shareholding in the share capital of SACL stands reduced from 25.93% to 22.67%. The announcement was made after market hours yesterday, 22 June 2017.

Separately, Shakti Sugar had given corporate guarantee for the loan availed by Orlandofin BV, Netherlands, erstwhile wholly owned subsidiary of the Company, amounting to EUR 40 million. As this loan has been fully settled by the borrower, the corporate guarantee given by the Company has been released and discharged.

Mindtree proposes to buyback equity shares of the Company. The Board will consider the proposal on 28 June 2017. The announcement was made after market hours yesterday, 22 June 2017.

Indiabulls Real Estate said that the company proposes to issue secured, redeemable, non-convertible debentures of face value Rs 10 lakh each aggregating Rs 500 crore, on a private placement basis. The announcement was made after market hours yesterday, 22 June 2017.

EID Parry India said that Parry Nutraceuticals (a division of EID Parry and part of the Murugappa Group) has forged a partnership with Synthite Industries, to apply proprietary patented technologies for extraction of Phycocyanin, a natural blue pigment found in Spirulina. The announcement was made after market hours yesterday, 22 June 2017.

Natural Blue is one of the Primary colours, which is difficult to master and has very limited sources that are acceptable by regulatory bodies. Phycocyanin (Extracted from Spirulina) is approved by all major regulatory bodies in USA, EU, Japan and South Korea as food colour. Moreover Phycocyanin offers excellent stability and flexibility for application in a variety of food and beverages. Spirulina is being consumed for many decades as a health supplement and is proven safe. Therefore huge growth is expected in the natural food colours segment mainly driven by the consumers demand for clean labels and favourable regulations.

Synthite Industries, with its strong global presence in the natural colour segment, will focus on this market, while Parry Nutraceuticals will continue catering to the Human nutrition segment.

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Piramal Enterprises may gain on fund raising plan
Jun 22,2017

Reliance Communications clarified with regards to news titled Rcom puts Mumbai, Delhi real estate assets on the block to pare debt,that the company has initiated the monetization programme for its real estate properties. The announcement was made after market hours yesterday, 21 June 2017.

Piramal Enterprises announced that a meeting of the administrative committee of the board will be held on 27 June 2017 for consideration of issue of secured non-convertible debentures of upto Rs 500 crore on private placement basis. The announcement was made after market hours yesterday, 21 June 2017.

Tata Motors said that duly authorised committee approved offering for subscription, on a private placement basis, up to 5,000 rated, listed, unsecured, 7.50% coupon, redeemable, non-convertible debentures (NCDs) of face value Rs 10 lakh each, at par, aggregating up to Rs 500 crore. The announcement was made after market hours yesterday, 21 June 2017.

Federal Bank said that a committee meeting will be held on or after 27 June 2017 to consider the issue price of qualified institutional placement. The announcement was made after market hours yesterday, 21 June 2017. QIP opened on 21 June 2017 and floor price of Rs 117.04 per share has been fixed.

Mindtree has introduced Mindtree Integrated Services. The service combines next-practice methods and tools to tightly integrate infrastructure and applications into a unified foundation that provides up to 30% cost savings from traditional operating models. The announcement was made after market hours yesterday, 21 June 2017.

Integrated Services is powered by Mindtree CAPE, a customizable plug-and-play platform that integrates the enterprise technology landscape and accelerates the automation journey. It is equipped with converged capabilities of DevOps and Agile along with technologies like Robotic Process Automation and Cognitive Computing.

NHPC has signed a memorandum of understanding on 20 June 2017 with Ministry of Power, Government of India for year 2017-18. The salient features of the MoU include generation target under excellent rating has been set as 24000 MU as against last year target of 23500 MU. Excellent targets for revenue from operations has been kept as Rs 7350 crore. The announcement was made after market hours yesterday, 21 June 2017.

Operating profit as a % of revenue from operations (Net) has been kept as 25.09%. PAT/average networth has been kept as 7.15%. Ensure optimum utilisation of budget CAPEX programme of NHPC has been assigned 10% weightage in the MOU 2017-18.

Further, targets regarding plant availability Factor, Forced Outage and Reduction in outstanding claims, Trade Receivables, dividend/ PAT etc have been included in the MoU. Human Resources Management (HRM) related parameters have also been included with 10% weightage in the MOU.

Persistent Systems and Attivio announces Engage 360, on the salesforce AppExchange. Built on Attivios Cognitive Search and Insights Platform, Engage 360 helps organizations improve customer service productivity and effectiveness with optimized turnaround on customer issues and cases, better mean time resolution, faster agent on-boarding and effective service supervision. The result is better customer satisfaction and loyalty, improved service staff productivity and fulfillment and higher customer and staff retention rates. The announcement was made after market hours yesterday, 21 June 2017.

Prism Cement announced that its step down joint venture, Sanskar Ceramic, has completed the expansion of 4.2 million m2 (MSM) per annum Vitrified Tiles capacity at its Dhuva plant, Morbi. The commercial production has commenced from 21 June 2017. With this expansion, the company would be able to reduce outsourcing of vitrified tiles from third party sources and become more self-reliant. The capacity of Sanskar now stands at 2.3 MSM of wall tiles and 4.2 MSM of vitrified tiles.

The overall capacity of H & R Johnson (India), a Division of Prism Cement, along-with its joint ventures and subsidiaries would stand at over 65 MSM per annum. The announcement was made after market hours yesterday, 21 June 2017.

Ashok Leyland announced that the board of directors of its subsidiary, Hinduja Leyland Finance at their meeting held on 23 May 2017 had decided withdraw the Draft Red Herring Prospectus (DRHP) and accordingly the DRHP had been withdrawn from SEBI on 16 June 2017. The announcement was made after market hours yesterday, 21 June 2017.

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Thomas Cook may gain after subsidiary acquires stake in JV
Jun 21,2017

Thomas Cook (India) said that Travel Corporation (India) Limited, wholly owned subsidiary of the company, intimated that it has successfully subscribed to 49% of equity share capital of TCI-Go Vacation India Private Limited, a joint venture Company with DER Touristik Group. The announcement was made after market hours yesterday, 20 June 2017.

Tech Mahindra said that one of the companys step down subsidiary, LCC Middle East FZ LLC agreed to sell its 100% shareholding in LCC Pakistan (Pvt) Ltd. to Talkpool AG, Switzerland. The announcement was made before market hours today, 21 June 2017.

ICICI Bank announced that the Committee of Executive Directors of the Bank at its meeting held on 20 June 2017 has approved the proposal for fund raising by way of issuance of senior unsecured long term bonds in the nature of debentures in single/multiple tranches on private placement basis. The announcement was made after market hours yesterday, 20 June 2017.

Kirloskar Oil Engines said that, the board of directors in its meeting held on 19 June 2017, had approved the proposal for acquisition of 100% equity shares of La-Gajjar Machineries Private Limited (LGM). This is subject to signing of definitive agreements. The announcement was made after market hours yesterday, 20 June 2017.

Somany Ceramics said that the company has issued commercial paper of Rs 40 crore value dated 20th June 2017 having maturity on 15th September, 2017. The issuance of commercial paper is to reduce high interest bearing cash credit limits and in turn reducing cost of borrowing. The announcement was made after market hours yesterday, 20 June 2017.

Capital First that the meeting of the debenture committee of the board of directors of the company will be held on 23 June 2017 to consider and approve the private placement of rated, listed, secured/ unsecured/ perpetual, redeemable non-convertible securities in the nature of debentures. The announcement was made after market hours yesterday, 20 June 2017.

JK Paper said that India Ratings and Research (Ind-Ra), has upgraded JK Papers (JKPL) Long-Term Issuer Rating to IND A- from IND BBB+, the outlook is positive and Short-term Issuer Rating to IND A1 from IND A2+. The announcement was made after market hours yesterday, 20 June 2017.

NHPC said that company has awarded EPC contract for the development of 50 megawatts (MW) Solar Power project in Tamil Nadu to L&T for an amount of Rs 287.48 crore. The project is slated to complete in 9 months. The announcement was made after market hours yesterday, 20 June 2017.

Glenmark Pharmaceuticals has entered into a licensing agreement with Boston-based APC Therapeutics Inc., a biopharmaceutical company focused on building a portfolio of best-in-class immuno-oncology (IO) therapies, for exclusive rights to a small molecule, oncology compound based on Antigen Presenting Cell (APC) biology. The compound has the potential to be used as a monotherapy or in combination with approved therapies to address unmet needs in cancer treatment. The announcement was made before market hours today, 21 June 2017.

Under the terms of the agreement, Glenmark will license the product from APC Therapeutics, and manage all clinical development including regulatory filings and commercialization worldwide. APC Therapeutics will receive development milestones and sales royalty payments.

ALTBalaji has integrated with JioMoney, the mobile wallet from Reliance Payment Solutions to provide digital transaction experience to its subscribers. The integration will enable easy and hassel-free subscription payments for ALTBalajis customers. The announcement was made after market hours yesterday, 20 June 2017.

SEAMEC announced that upon completion of contract with Kreuz Subsea Technologies, the company has entered into a contract for charter hire of vessel SEAMEC III with L&T Hydrocarbon Engineering for undertaking a job in Mumbai High. The tenure of the contract is for a period of 7 days with option for extension. The contract will commence from around 22 June 2017. The announcement was made after market hours yesterday, 20 June 2017.

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Thomas Cook may gain after subsidiary subscribes stake in JV
Jun 21,2017

Thomas Cook (India) said that Travel Corporation (India) Limited, wholly owned subsidiary of the company, intimated that it has successfully subscribed to 49% of equity share capital of TCI-Go Vacation India Private Limited, a joint venture Company with DER Touristik Group. The announcement was made after market hours yesterday, 20 June 2017.

Tech Mahindra said that one of the companys step down subsidiary, LCC Middle East FZ LLC agreed to sell its 100% shareholding in LCC Pakistan (Pvt) Ltd. to Talkpool AG, Switzerland. The announcement was made before market hours today, 21 June 2017.

ICICI Bank announced that the Committee of Executive Directors of the Bank at its meeting held on 20 June 2017 has approved the proposal for fund raising by way of issuance of senior unsecured long term bonds in the nature of debentures in single/multiple tranches on private placement basis. The announcement was made after market hours yesterday, 20 June 2017.

Kirloskar Oil Engines said that, the board of directors in its meeting held on 19 June 2017, had approved the proposal for acquisition of 100% equity shares of La-Gajjar Machineries Private Limited (LGM). This is subject to signing of definitive agreements. The announcement was made after market hours yesterday, 20 June 2017.

Somany Ceramics said that the company has issued commercial paper of Rs 40 crore value dated 20th June 2017 having maturity on 15th September, 2017. The issuance of commercial paper is to reduce high interest bearing cash credit limits and in turn reducing cost of borrowing. The announcement was made after market hours yesterday, 20 June 2017.

Capital First that the meeting of the debenture committee of the board of directors of the company will be held on 23 June 2017 to consider and approve the private placement of rated, listed, secured/ unsecured/ perpetual, redeemable non-convertible securities in the nature of debentures. The announcement was made after market hours yesterday, 20 June 2017.

JK Paper said that India Ratings and Research (Ind-Ra), has upgraded JK Papers (JKPL) Long-Term Issuer Rating to IND A- from IND BBB+, the outlook is positive and Short-term Issuer Rating to IND A1 from IND A2+. The announcement was made after market hours yesterday, 20 June 2017.

NHPC said that company has awarded EPC contract for the development of 50 megawatts (MW) Solar Power project in Tamil Nadu to L&T for an amount of Rs 287.48 crore. The project is slated to complete in 9 months. The announcement was made after market hours yesterday, 20 June 2017.

Glenmark Pharmaceuticals has entered into a licensing agreement with Boston-based APC Therapeutics Inc., a biopharmaceutical company focused on building a portfolio of best-in-class immuno-oncology (IO) therapies, for exclusive rights to a small molecule, oncology compound based on Antigen Presenting Cell (APC) biology. The compound has the potential to be used as a monotherapy or in combination with approved therapies to address unmet needs in cancer treatment. The announcement was made before market hours today, 21 June 2017.

Under the terms of the agreement, Glenmark will license the product from APC Therapeutics, and manage all clinical development including regulatory filings and commercialization worldwide. APC Therapeutics will receive development milestones and sales royalty payments.

ALTBalaji has integrated with JioMoney, the mobile wallet from Reliance Payment Solutions to provide digital transaction experience to its subscribers. The integration will enable easy and hassel-free subscription payments for ALTBalajis customers. The announcement was made after market hours yesterday, 20 June 2017.

SEAMEC announced that upon completion of contract with Kreuz Subsea Technologies, the company has entered into a contract for charter hire of vessel SEAMEC III with L&T Hydrocarbon Engineering for undertaking a job in Mumbai High. The tenure of the contract is for a period of 7 days with option for extension. The contract will commence from around 22 June 2017. The announcement was made after market hours yesterday, 20 June 2017.

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Rama Steel Tubes may gain after installing solar project
Jun 20,2017

Rama Steel Tubes announced that it has installed solar project at Khopoli facility, Maharashtra. This solar project will be generating 1100 MWh / Year of energy, same amount of energy needed to power the installed and upcoming capacities. The announcement was made after market hours yesterday, 19 June 2017.

The solar project has a capacity of 750 KWp and will generate the same amount of energy needed to power the current as well as the planned upcoming capacity. An array of 2400 solar panels carpets the land, converting sunlight into electrical currents. lt will save money and energy whilealso protecting the environment. The estimated amount of reduction in the Carbon Footprint will reduce by LL20 MT pa by reducing the emission of Carbon dioxide into the atmosphere.

Rama Steel Tubes has unveiled one of the lndias largest solar energy projects of its kind in the ERW pipes segment. The company has executed the entire project in less than 3 months time at a cost of Rs 3.75 crore. Working with Visa Powertech P Ltd, the sustainable energy developer, Rama Steel Tubes has mounted 24OO solar panels on the factory land at its Khopoli facility, Maharashtra - an area equivalent to 3.75 acres. Currently this facility has an overall manufacturing capacity of 72,OOO MT per annum, however the company has plans to bring in additional 60,000 MT capacity at the same location. These facility is going to boost the performance of the company. ln line with its vision of profitable growth, the company has been successful in further strengthening its presence in highly profitable geographies. The companys products have been well accepted and appreciated in all the markets that it caters to.

Indiabulls Ventures said that IVL Finance, a non-public deposit taking NBFC registered with the Reserve Bank of India, a wholly owned subsidiary of Indiabulls Ventures has appointed Pinank Shah, as its CEO with immediate effect. The announcement was made after market hours yesterday, 19 June 2017.

Pinank Shah has been with Indiabulls Group for nearly 6 years. At Indiabulls Housing Finance (IHFL), Pinank Shah has been involved in various functions from time to time including credit and treasury functions and has over time gained very vast and wide experience in context to running a finance business. Prior to joining Indiabulls, Shah has worked with HDFC for about 10 years. Shah holds a Bachelor degree in Commerce from Mumbai University and a Master degree in Management Studies (Finance) from Jamnalal Bajaj Institute of Management Studies.

Tayo Rolls said that a meeting of the committee of the board will be held on 22 June 2017 for allotment of non-cumulative redeemable preference shares. The announcement was made after market hours yesterday, 19 June 2017.

Mindtree said that Magnet 360, a Mindtree company, announced the release of ConsumerConnect 360n++a Salesforce Fullforce Solution Accelerator for consumer goods brands. The announcement was made after market hours yesterday, 19 June 2017.

Bhushan Steel clarified on news item appeared in the channels captioned SFIO grilled Bhushan Steels CFO Nittin Johari; Allegation-Rs 5000 Cr. Re-routed Via Hawala Operators To Promoters? that at the outset the news item as aired is incorrect and wrong for the reason that there has been no grilling of Nittin Johari, CFO by SFIO as mentioned. It is necessary to mention that the allegation(s) as made in news on 19th June, 2017 are completely wrong, baseless and hence, denied in their totality. The announcement was made after market hours yesterday, 19 June 2017.

SpiceJet and Boeing on 19 June 2017 signed a memorandum of understanding for 40 737 MAX airplanes. The agreement, valued at approximately $4.74 billion at current list prices, is split evenly between 20 new orders for the 737 MAX 10 and conversions of 20 of the low-cost carriers 737 MAX 8 airplanes of its current order to 737 MAX 10s. The announcement was made after market hours yesterday, 19 June 2017.

SpiceJet operates a fleet of 35 Next-Generation 737s and 19 Bombardier Q400s. The carrier plans to grow its operational fleet to 100 airplanes by 2020 and looks to expand regionally with the new 737 MAX family of airplanes. SpiceJet will take delivery of its first 737 MAX in 2018.

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Tata Steel may gain on plans to sell stake in Tata Motors
Jun 19,2017

Tata Steel announced that it proposes to sell 8.36 crore shares of face value of Rs 2 each of Tata Motors to Tata Sons. The transaction is expected to be executed on or after 23 June 2017 at or around the prevailing price on the date of proposed sale, subject to no material market movements in price since the date of this disclosure. The announcement was made on Saturday, 17 June 2017.

POWERGRID Warora Transmission, a 100% subsidiary of Power Grid Corporation of India, secured through Tariff Based Competitive Bidding, has successfully completed an element Gadarwara STPS - Jabalpur Pool 765 kV D/C transmission line and declared the element for commercial operation on 31 May 2017. The announcement was made after market hours on Friday, 16 June 2017.

Dr Reddys Laboratories announced that the audit of its Formulations Srikakulam Plant (SEZ) Unit I, Andhra Pradesh, by the USFDA, has been completed on 16 June 2017. The company has been issued a Form 483 with one observation. The announcement was made after market hours on Friday, 16 June 2017.

IndusInd Bank has acquired 75 lakh shares of Rs 10 each, pursuant to exercise of conversion option on Optionally Convertible Redeemable Preference Shares, i.e., conversion of each Optionally Convertible Preference Share held by the bank into 10 shares of Kesoram Industries at a price of Rs.120 per share. The announcement was made on Saturday, 17 June 2017.

Axis Bank has revised Marginal Cost of Funds based Lending Rate (MCLR) rates in the short tenors. The 1 year MCLR stands unchanged at 8.25%. New rates are effective from 17 June 2017. The announcement was made after market hours on Friday, 16 June 2017.

NTPC has commissioned 225 megawatts (MW) out of 250 MW of Mandsaur Solar Power Project of NTPC. With this, the installed capacity of NTPCs solar power projects has become 845 MW. The total installed capacity of NTPC on standalone basis has become 44419 MW and that of NTPC group has become 51635 MW. The announcement was made after market hours on Friday, 16 June 2017.

MSPL Steel & Power said that the board of directors of the company approved conversion of 6% redeemable non-cumulative preference shares to equity shares owing to the Scheme for Sustainable Structuring of Stressed Assets.

The board also approved implementation of Scheme for Sustainable Structuring of Stressed Assets (S4A Scheme) and conversion of loan by lenders into equity shares/optionally convertible debentures (OCDs) of the company and also issue and allot pursuant to implementation of the Reserve Bank of India S4A Scheme for the company. The announcement was made on Sunday, 18 June 2017.

Wheels India and Topy Industries, Japan have reached an agreement regarding a strategic partnership in the passenger car steel wheels business in India, whereby Topy will invest a 26% stake in WIL Car Wheels, a wholly owned subsidiary of Wheels India. The investment will be made through new issue of equity shares by WCWL to Topy. The announcement was made after market hours on Friday, 16 June 2017.

WCWL was set by WIL to carry on the passenger car steel wheel business in India. WIL has entered into agreements to transfer its entire passenger car steel wheel business carried out at its plants in Padi, Chennai and Bawal, Haryana, on slump sale basis, to the new company.

Nucleus Software Exports announced that the buyback committee approved share buy-back of upto 33.43 lakh fully paid-up equity shares under the buyback offer, representing 10.32% of the total paid-up equity share capital of the company at final buyback price of Rs 350 per share for an aggregate amount not exceeding Rs 117 crore which is 24.83% of the paid-up equity share capital and free reserves of the company for the Financial Year ended 31 March 2017. The announcement was made after market hours on Friday, 16 June 2017.

HIL said that the company is holding 33% stake in Supercor Industries Limited, Nigeria as a joint venture (JV) between the company and other shareholders including State Govt. of Bauchi and the said company is not in a position to prepare any accounts/management accounts FY 2016-17 due to cash crisis situation which forced them to stop their operations since November 2015. The company also initiated winding up petition to expedite the process.

Further, as per the provisions of Regulation 33 of Listing Regulations, the company has decided to opt for submission of standalone quarterly and yearly results for FY 2018 in view of the above reasons. Apart from the above joint venture, company does not have any other joint ventures or subsidiaries or associates companies and hence the company will not prepare any consolidated accounts. The announcement was made after market hours on Friday, 16 June 2017.

Shriram Transport Finance Company announced that the allotment committee non-convertible debentures (NCDs) of the company approved and allotted 1,000 secured redeemable, rated, listed NCDs of face value of Rs 10 lakh each, aggregating to Rs 100 crore on private placement basis. The announcement was made after market hours on Friday, 16 June 2017.

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TCS in focus after launching ignio for SAP operations
Jun 16,2017

TCS announced that it has launched ignio for SAP ERP to help customers run their operations in SAP more effectively. ignio is a cognitive automation solution for enterprise IT. ignio has also achieved certified integration with SAP ERP. The announcement was made after market hours yesterday, 15 June 2017.

Infosys announced the appointment of Karmesh Vaswani as the Global Head - Retail, CPG & Logistics (RCL) and Nitesh Banga as the Global Head of Manufacturing, effective 15 July 2017. Karmesh Vaswani and Nitesh Banga are both career Infoscions who have held strategic portfolios across the organization for nearly a decade. The announcement was made after market hours yesterday, 15 June 2017.

MphasiS issued clarification on news item titled Mphasis raises $500 million dollar bond sale that the said issuance has been undertaken by its parent company, Marble II Pte. Ltd., Singapore and not by the company. The proceeds will be utilized by Marble II Pte. Ltd., Singapore and not by the company, it added. The announcement was made after market hours yesterday, 15 June 2017.

Reliance Industries (RIL) and BP yesterday, 15 June 2017 announced that they are moving forward to develop already-discovered deepwater gas fields, bringing new gas production for India. The two companies have agreed to deepen and expand their partnership to work jointly across a wide range of areas throughout Indias energy sector. The announcement was made after market hours yesterday, 15 June 2017.

RIL and BP announced that they will award contracts to progress development of the R-Series deep water gas fields in Block KGD6 off the east coast of India. The project is expected to produce up to 12 million cubic metres (425 million cubic feet) of gas a day, coming on stream in 2020.

This is the first of three planned projects in Block KGD6 that are expected to be developed in an integrated manner, producing from about 3 trillion cubic feet of discovered gas resources.

Development of the three projects, with total investment of Rs 40000 crore ($6 billion), is expected to bring a total 30-35 million cubic metres (1 billion cubic feet) of gas a day new domestic gas production onstream, phased over 2020-2022.

ICICI Bank said that the committee of executive directors of the bank is scheduled to meet on 20 June 2017 to consider fund raising by way of issuance of senior unsecured long term bonds in the nature of debentures in single/multiple tranches on private placement basis. The announcement was made after market hours yesterday, 15 June 2017.

Pennar Industries said that the company and Pennar Engineered Building Systems intend to set up a 50:50 joint venture (JV) in United States of America to supply their goods and services. The announcement was made after market hours yesterday, 15 June 2017. The JV will help both the companies to increase their addressable market and contribute to an increase in revenue and profitability.

Deepak Fertilisers and Petrochemicals Corporation (DFPCL) said that the Department of Fertilisers (DoF), Ministry of Chemicals and Fertilisers, Government of India, has decided to release the pending Rs 310.52 crore fertiliser subsidy on a bank guarantee of equivalent amount. DoF had withheld the subsidy pending decision on recovery of alleged undue gain on account of supply of cheap gas. The announcement was made after market hours yesterday, 15 June 2017.

Canara Bank said it plans to raise up to Rs 6300 crore for business and regulatory requirements. The bank said the board of directors approved the proposal to raise equity capital up to Rs 3500 crore, inclusive of premium to be decided, by way of qualified institutional placement/rights issue/preferential allotment/follow-on public offer. The bank may raise fund by any other means as well, it said in a regulatory filing.

Additionally, Canara Bank will also raise Rs 1800 crore by issuing Basel III compliant additional Tier I bonds, it said. The board has also approved the plan to issue Basel III compliant Tier II bonds up to Rs 1000 crore. The bank would seek the approval of the shareholders for raising of equity capital in the ensuing AGM of the bank, it said. The announcement was made after market hours yesterday, 15 June 2017.

IPCA Laboratories said that drugs manufactured at its facilities at SEZ Indore (Pithampur), Piparia (Silvassa) and Ratlam (Madhya Pradesh) have been banned from the US market by the US Food and Drug Administration (USFDA). The drug regulator cited violation of current good manufacturing norms for taking the step against the company. The USFDA has refused admission to all drugs made at the companys Pithampur and Silvassa facility. All drugs, except API Chloroquine Phosphate, made at Ratlam (Madhya Pradesh) unit have also been denied entry in the US, it further said. The ban will continue until the company can demonstrate that the drugs manufactured from these manufacturing sites and intended for the US market are in compliance with the current good manufacturing practice regulation (cGMP). The announcement was made after market hours yesterday, 15 June 2017.

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Wipro in focus after securing contract from Valmet
Jun 15,2017

Wipro announced that it has won IT Applications Managed Services engagement with Finnish company, Valmet, a leading global developer and supplier of technologies, automation and services for the pulp, paper, and energy industries. The announcement was made after market hours yesterday, 14 June 2017.

Valmet has selected Wipro as the partner for supporting its renewed Infor LN ERP platform. As part of the multi-year engagement, Wipro will deliver the maintenance and support of the new ERP platforms in a Managed Services model covering all global locations in which Valmet operates.

Repco Home Finance announced that the securities allotment committee of the board of directors of the company approved the allotment of 2,720 secured, redeemable, non-convertible, non-cumulative debentures (SRNCD) aggregating to Rs 272 crore on private placement basis to International Finance Corporation. The announcement was made after market hours yesterday, 14 June 2017.

Corporation Bank has revised the banks tenor based Marginal Cost of Funds based Lending Rate (MCLR) for all new rupee loans and advances including renewals from 15 June 2017.

MCLR for overnight loans will be 8.15%, the rate for one month will be 8.15% and for three months it will be 8.25%. The MCLR on 6-month loans will be 8.65% and for one-year loans the rate will be 8.75%, the bank said. The announcement was made after market hours yesterday, 14 June 2017.

Central Bank of India said that the Reserve Bank of India (RBI) has put the bank under prompt corrective action in view of high net non performing assets (NPA) and negative return on assets (RoA). The bank believes that corrective measures arising out of the PCA will help in improving overall performance of the bank. The announcement was made after market hours yesterday, 14 June 2017.

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Dr Reddys in spotlight after receiving USFDA clearance for plant
Jun 14,2017

Dr Reddys Laboratories said that it has received Establishment Inspection Report (EIR) from the United States Food and Drug Administration on 13 June 2017 after closure of audit for the companys API manufacturing plant at Miryalaguda. This unit was inspected by the USFDA in February 2017 and Dr Reddys was issued form 483 with three observations. The announcement was made after market hours yesterday, 13 June 2017.

Mahindra & Mahindra said that its board of directors at a meeting held on 13 June 2017, approved sale of a part of its shareholding in Mahindra Logistics (MLL), a subsidiary of the company, as part of the proposed initial public offer (IPO) of MLL, subject to requisite approvals and market conditions. The size of the stake sale, price and other details of the IPO will be determined in due course by a Committee of Directors. The announcement was made after market hours yesterday, 13 June 2017.

Shriram Transport Finance Company said that the allotment committee of non-convertible debentures (NCDs) of the company approved and allotted 9,650 secured, redeemable, rated, listed, of face value of Rs 10 lakh each, aggregating to Rs 965 crore on private placement basis. The announcement was made after market hours yesterday, 13 June 2017.

Emkay Global Financial Services said that company and DBS Vickers Securities (Singapore) Pte Ltd, a wholly owned subsidiary of DBS Bank have signed an exclusive agreement for sharing of knowledge, co-branding of research and its distribution to the global clients of DBS Vickers. The alliance would facilitate DBS Vickers to enhance its service offering to its clients, while enabling Emkay to expand its reach. The announcement was made after market hours yesterday, 13 June 2017.

Kellton Tech Solutions said that BEC (Systems Integration), a leading provider of automated data capture and voice solutions for use within the supply chain, logistics and manufacturing industries, has formed a partnership with the company.

The partnership will help infuse SAPs latest capabilities into BECs solutions, enabling them to successfully implement S/4 HANA migration. Based on its eSmart Data Capture software suite, BECs innovative solutions leverage the power of ERP to deliver improved accuracy and productivity within its clients warehouse, distribution centre and manufacturing departments. The announcement was made after market hours yesterday, 13 June 2017.

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TCS in focus on collaboration with Intel Corp
Jun 13,2017

TCS announced a new collaboration with Intel Corporation to build a future ready reference architecture for the internet of things (IoT), cloud, network, 5G, AI and data center infrastructure management, helping to meet rapidly evolving digital transformation requirements of global markets. The announcement was made after market hours yesterday, 12 June 2017.

TCS and Intel are also investing in Centre of Excellence (CoE) in the US and India, which will be hubs for next generation datacenter technologies, IoT and cloud-ready network architectures to support customers.

Wipro said that in view of market activity in the companys shares on Monday, 12 June 2017, the New York Stock Exchange (NYSE) has contacted the company in accordance with its usual practice. The company felt that it was important to clarify to the market that the payable date and ex-dividend date for its ADR (American Depository Receipts) bonus issue, or stock dividend, are yet to be determined, Wipro said.

At NYSE, for ADR stock dividends or bonus issue, the ex-dividend date is set as the first business day after the stock dividend is paid, which is also after the record date. Therefore NYSE has not yet declared an ex-dividend date for Wipros ADR program. Once the payable date is declared NYSE will announce the ex-dividend date for the ADR, Wipro clarified. The announcement was made after market hours yesterday, 12 June 2017.

Axis Bank said it proposes to raise funds by issuing unsecured redeemable non-convertible subordinated debentures, Basel-III Compliant Tier 2 debentures aggregating to Rs 5000 crore. The board of the bank will consider the proposal to issue and allot the aforesaid securities through circular resolution. The announcement was made after market hours yesterday, 12 June 2017.

Shriram Transport Finance Company announced that the allotment committee-non convertible debentures (NCDs) of the company approved and allotted 5,500 secured, redeemable, rated, listed NCDs of face value of Rs 10 lakh each, aggregating to Rs 550 crore on private placement basis. The announcement was made after market hours yesterday, 12 June 2017.

Cosmo Films announced expansion of its range of direct thermal printable products. The company would now offer an extended range of direct thermal printable (DTP) products. This would include standard DTP films, top coated DTP films, high temperature DTP films and DTP paper. The announcement was made after market hours yesterday, 12 June 2017.

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Bank stocks in spotlight as Jaitley to meet heads of PSU banks
Jun 12,2017

Bank stocks will be in focus. Finance Minister Arun Jaitley will meet heads of public sector banks (PSU banks) today, 12 June 2017 to discuss the issue of non-performing assets (NPAs) and the steps being taken by them to expedite the recovery of bad loans. Major issues on the agenda of the meeting include issues and solutions relating to NPAs of the PSU banks, status of MSE Credit, Stand-up India and Mudra Yojana among others.

Oriental Bank of Commerce (OBC) said it has revised the marginal cost of funds based lending rate (MCLR) for different tenors with effect from 12 June 2017. The banks MCLR for overnight loans will be 8.1%, the rate for one month will be 8.2% and for three months it will be 8.25%. The MCLR on 6-month loans will be 8.35% and for one-year loans the rate will be 8.5%, the bank said. The announcement was made after market hours on Friday, 9 June 2017.

Tata Motors said that its global wholesales including Jaguar Land Rover (JLR) declined by 1% to 86,385 units in May 2017 over May 2016. The announcement was made after market hours on Friday, 9 June 2017.

Coal India (CIL) issued clarification to the stock exchanges with regard to media news item titled CIL to shut 37 mines ignoring unions threatn++. The company said that every year, subsidiaries of CIL generally undertake an exercise to determine profit/loss making operating mines for comparative study of the performance of such mines over previous years as well as for opening of new mines.

Government of India (Ministry of Coal) during the review meeting with CIL & its subsidiaries noted that substantial number of mines which are not been able to recover salary of the workers and directed that all subsidiaries of CIL to conduct a detailed study of such mines and report the action taken to list out the unviable mines, the company said.

In view of above, an action plan has been prepared by subsidiaries in which 37 unviable UG mines has been envisaged to be closed in 2017-18. The identified surplus manpower from these mines would be gainfully redeployed in nearby mines of areas to reduce further loss in these mines, CIL said. The announcement was made after market hours on Friday, 9 June 2017.

Shriram Transport Finance Company said that the allotment committee at a meeting held on 9 June 2017, allotted 3,500 non-convertible debentures (NCDs) aggregating to Rs 350 crore on private placement basis. The announcement was made after market hours on Friday, 9 June 2017.

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TCS in spotlight on launching launching app development kit for banks
Jun 09,2017

TCS announced the launch of BaNCS App Development Kit (ADK) that enables banks to design and build their own apps faster and seamlessly deploy across devices and desktops. The announcement was made after market hours yesterday, 8 June 2017.

Pidilite Industries announced that Pidilite USA Inc (PUSA), a wholly owned subsidiary of the company has entered into an agreement with Niteo Products LLC, USA for sale of business of the Cyclo Division of PUSA. Cyclo Division has been engaged in the business of automobile grooming, performance and maintenance products and other such products.

Some of the trademarks used by the Cyclo Divisions were owned by Pidilite International pte Ltd, Singapore, a wholly owned subsidiary of the company and the same will also stand assigned to Niteo Products LLC, USA, Pidilite said. The announcement was made after market hours yesterday, 8 June 2017.

IndusInd Bank said it raised a $225 million loan from the Overseas Private Investment Corporation (OPIC) for supporting the expansion of the banks micro, small and medium enterprise (MSME) lending programs across India. At least 25% of the proposed facility will support women entrepreneurs and reach previously unbanked populations. This eight-year loan is part of the agencys commitment to supporting $1 billion in loans to underserved Small and Medium Enterprises in India. The announcement was made after market hours yesterday, 8 June 2017.

Next Mediaworks said that the board of directors of Next Radio (NRL), the companys subsidiary, at its board meeting held on 8 June 2017, approved transfer of its FM radio broadcasting business at Ahmedabad (the undertaking ) to its wholly owned subsidiary viz. Syngience Broadcast Ahmedabad.

The board of directors of NRL has also, at the aforementioned meeting, approved the scheme of arrangement, with appointed date as 1 April 2017. The said transfer of the undertaking is subject to the approval of the National Company Law Tribunal and the Ministry of Information & Broadcasting. The announcement was made after market hours yesterday, 8 June 2017.

Zee Media Corporation announced that Mumbai Bench of National Company Law Tribunal (NCLT) at hearing held yesterday, 8 June 2017, approved the scheme of arrangement and amalgamation between Zee Media Corporation; and Diligent Media Corporation; and Mediavest India; and Pri-Media Services and Maurya TV and their respective shareholders and creditors. The announcement was made after market hours yesterday, 8 June 2017.

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Infosys in focus after clarification
Jun 08,2017

Infosys clarified after market hours yesterday, 7 June 2017, that the news reports on pricing cuts seen by the IT industry being attributed to the Infosys chief operating officer (COO) are incorrect. His comments have been misrepresented. The comments made in the media interview refer to cost take out efforts by clients towards reducing their program investments in the run side of business, to reinvest them in newer technologies or the change side of business. Cost take outs by clients do not necessarily translate into an impact on vendor pricing. There are enough levers available to meet the client demand on cost take-outs without necessarily impacting the pricing. Infosys commentary on pricing is no different from what it had shared with the market earlier. Infosys reiterated that it is not seeing anything new on pricing. This has also been clarified in the webcast of the Morgan Stanley India Summit, the company said.

The clarification was issued after a media report quoted Infosys COO Pravin Rao saying that the companys clients were asking for 20-30% cut in prices for projects.

Reliance Capital announced after market hours yesterday, 7 June 2017, that the board of Reliance Nippon Life Asset Management (RNAM) has approved the plans to list the equity shares of RNAM, subject to necessary regulatory and corporate approvals. RNAM is the asset manager to Reliance Mutual Fund and will be the first among the top 3 players in the asset management company (AMC) industry to list its shares on exchanges. Discussions with merchant bankers, lawyers and auditors for IPO process would be initiated soon. The percentage of dilution, which shall be subject to regulatory norms, is yet to be decided, the company said in a statement.

RNAM is a subsidiary of Reliance Capital (RCL), with Nippon Life Insurance Company as its strategic partner. RCL holds 51% of the total issued and paid-up equity share capital of RNAM.

Cyient announced after market hours yesterday, 7 June 2017, that its subsidiary, Cyient DLM, has been qualified as an approved product supplier to UTC Aerospace Systems. This expands Cyients 15 years relationship with United Technologies Corporation (UTC) as a valued engineering service provider. Cyient and UTC also extended the master terms agreement through 2020, enabling Cyient to provide technical services to UTC company-wide. With the qualification of DLM, the portfolio of offerings to UTC now includes both services and product development.

Endurance Technologies announced after market hours yesterday, 7 June 2017, that it has planned expansion of its annual installed capacity for manufacture of aluminium die casting (high pressure) and machining components/parts at its plant in Chennai. The company said it will expand its annual installed capacity to 12250 M. tonnes from 8161 M. tonnes. It requires an investment of about Rs 9.12 crore.

Biocon announced after market hours yesterday, 7 June 2017, that it has fixed 17 June 2017 as the record date to determine the eligible shareholders entitled to receive the bonus equity shares.

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Oil India in focus after hydrocarbon discovery in Assam
Jun 07,2017

Oil India said that it has made one hydrocarbon discovery in the Baghjan Petroleum Mining Lease (PML) in the Upper Assam Basin in May 2017 in the well South Baghjan-2. Oil India has made ten discoveries in its operational areas of Assam during 2016-17. The discoveries have opened up avenue for further exploration of already identified leads/prospects in the area. The announcement was made after market hours yesterday, 6 June 2017.

Shares in interest rate sensitive sectors such as banks, automobiles and real estate will be watched. The outcome of the Reserve Bank of India (RBI)s monetary policy meeting is scheduled at 14:30 IST today, 7 June 2017. RBI held its benchmark repo rate at a six-year low of 6.25% on 6 April 2017, as widely expected, and raised its reverse repo rate by 0.25% to 6%, saying there are upside risks to the inflation outlook amid an uncertain global economic environment.

TCS announced that the company and Siemens unveiled a new collaboration around Internet of Things (IoT) innovation. Focused on customers in the manufacturing, energy, building technology, healthcare and railway industries the partnership will enable customers to benefit from new data insights and services based on MindSphere, the cloud-based, open IoT operating system from Siemens. The announcement was made after market hours yesterday, 6 June 2017.

Adani Power announced after market hours yesterday, 6 June 2017, that its board approved a proposal to hive off its flagship Mundra power station to its subsidiary so that it can focus on investment and power generation separately. The companys objectives is to source funds more efficiently for investing in capacity expansion of its arms or acquiring assets.

Sical Logistics said it has been awarded a letter of acceptance for a contract worth Rs 289 crore by Mahanadhi Coal Fields for extraction of coal/coal measure strata. The announcement was made after market hours yesterday, 6 June 2017.

Moodys and Fitch yesterday, 6 June 2017, cut Reliance Communications (RCom) rating for the second time in a week, even as the telco received a seven-month respite from bankers on debt repayment.

Moodys Investors Service cut its rating to Ca from Caa1. The new rating suggests that the debt is highly speculative and likely in, or very near, default, with some prospect of recovery of principal and interest. It had downgraded RCom to Caa1, indicating high risk, on 30 May 2017.

Fitch Ratings lowered RComs rating to RD from CCC, saying the situation constituted restricted default, as multiple waivers or forbearance periods have been extended in parallel following a non-payment event. Fitch last cut RComs rating on 2 June 2017.

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Grasim Inds in spotlight as NCLT OKs ABNL merger
Jun 06,2017

Grasim Industries will be watched. The company said that the National Company Law Tribunal (NCLT), bench at Ahmedabad, approved of the merger of Aditya Birla Nuvo (ABNL) and Grasim Industries to be followed by the listing of Aditya Birla Financial Services (ABFSL). The announcement was made after market hours yesterday, 5 June 2017.

State Bank of India (SBI) has reportedly raised Rs 15000 crore from domestic and foreign institutional investors through qualified institutional placement (QIP) of shares. The IPO closed today, 6 June 2017, morning and is believed to have received demand in excess of Rs 20000 crore, media reported.

SBI announced after market hours yesterday, 5 June 2017, that the meeting of the committee of directors will be held on Thursday, 8 June 2017, to consider and approve the issue price for the equity shares under the QIP. The floor price of the QIP was fixed at Rs 287.58 each for a face value of Re 1 each. The bank said in a statement that it may offer a discount of not more than 5% to the floor price.

Wipro issued clarification to the stock exchanges regarding media news item titled Wipro promoters in early stage of evaluating sale of part or whole business. The company said that the news article is baseless and malicious. There is no truth to these unsubstantiated rumors, it added. The announcement was made after market hours yesterday, 5 June 2017.

Cadila Healthcare announced after market hours yesterday, 5 June 2017, that its formulations manufacturing facility at Baddi has received an Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA). This receipt of EIR indicates the successful closure of the inspection points (483s) raised based on the inspection carried out between 21 February 2017 to 1 March 2017.

The board of Adani Power will meet later today, 6 June 2017, to consider slump sale of its mundra power generating business undertaking to its subsidiary company, namely, Adani Power (Mundra).

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