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Allahabad Bank announces cessation of Chairman and MD
May 02,2017

Allahabad Bank announced that Rakesh Sethi, Chairman and MD of the Bank has demitted office on 30 April 2017 upon superannuation.

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SML ISUZU announces sales figures
May 02,2017

SML ISUZU announced that the Company sold 768 units in the month of April 2017 compared to sale of 1404 units in April 2016. 275 BSIII vehicles have been returned by customers/dealers during April 2017 (not adjusted in above) pursuant to Honble Supreme Court judgment pronounced on 29 March 2017, banning sale of BSIII vehicles post 1 April 2017. As the sales return is out of vehicles sold before 31 March 2017, appropriate adjustment is carried out in the books of accounts for FY 2016-17.

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Tata Steel UK completes sale of its Speciality Steels business to Liberty House Group
May 02,2017

Tata Steel UK has completed the sale of its Speciality Steels business to Liberty House Group for a total consideration of n++n++100 million.

The sale covers several South Yorkshire-based assets including the electric arc steelworks and bar mill at Rotherham, the steel purifying facility in Stocksbridge and a mill in Brinsworth as well as services centres in Bolton and Wednesbury, UK and in Suzhou and Xian, China. Speciality Steels directly employs about 1700 people making steels for the aerospace, automotive and the oil & gas industries.

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Aliviras Animal Health API facility gets USFDA approval
May 02,2017

Sequent Scientific announced that Alivira has received US FDA approval for its Animal Health API facility at Visakhapatnam, Andhra Pradesh.

This ~225KL capacity multi-product facility at Vizag was inspected for the first time by USFDA in November 2016 and has now received Establishment Inspection Report (EIR) from US FDA. The receipt of the EIR will enable Aliviras entry into $8 billion US veterinary healthcare market.

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Board of Scandent Imaging approves expansion of business
May 02,2017

Scandent Imaging announced that the Board of Directors of the company at its meeting held on 02 May 2017 approved the expansion of business into primary healthcare and support services. The Company intends to open new Family Care centers to provide modern day convenience, care and basic support to masses.

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Reliance Infrastructure InViT Fund files updated DRHP with SEBI and exchanges
May 02,2017

Reliance Infrastructure announced that Reliance Infrastructure InvIT Fund has filed an updated draft offer document with the SEBI, BSE and NSE on 28 April 2017 of the initial public offer of units representing an undivided beneficial interest in the Trust, in accordance with the InvIT Regulations. The revised proposed issue size is Rs 2500 crore with an option to retain over-subscription up to 25% of the issue size.

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Outcome of board meeting of RBL Bank
May 02,2017

RBL Bank announced that the Board of Directors of the Bank at its meeting held on 02 May 2017 has inter-alia, approved the following:
1. Audited Standalone Financial Statements for the quarter and year ended 31 March 2017.
2. Audited Consolidated Financial Statements for the year ended 31 March 2017.
3. Recommended payment of final dividend @ 18% i.e. Rs. 1.80/- per equity share to be payable after approval of the shareholders at the ensuing Annual General Meeting.
4. Issue of Debt Securities on Private Placement basis

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Indian Bank plans to issue long term bonds up to Rs 5000 crore
May 02,2017

Indian Bank announced that a proposal for issue of Long Term Bonds for financing of Infrastructure and Affordable Housing upto an amount of Rs.5,000 crore will be taken up for the approval of the Board in the Meeting of the Board of Directors of the Bank, scheduled to be held on 05 May 2017.

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Shriram Transport Finance Company considers raising of funds
May 02,2017

Shriram Transport Finance Company announced that the Company is considering raising of funds through various options of borrowings including by way of issue of securities in onshore/offshore market on private placement basis. Based on the market conditions the meeting(s) of Banking and Finance Committee/Debt Issuance Committee will be held during the current month ending 31 May 2017 to consider and approve the terms and conditions of such borrowings.

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Nestle India launches MAGGI Masalas of India Noodles range
May 02,2017

Nestle India announced the launch of its MAGGI Masalas of India Noodles range. The new range of MAGGI noodles consist of four new flavours - Amritsari Achari, Mumbaiya Chatak, Super Chennai and Bengali Jhaal.

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Ashok Leyland provides update on scheme of amalgamation
May 02,2017

Ashok Leyland has received the National Company Law Tribunal (NCLT), Chennai Bench approval vide order dated 24 April 2017 for Scheme of Amalgamation of Hinduja Foundries with Ashok Leyland.

Ashok Leyland and Hinduja Foundries have filed e-Form No INC-28 with the Registrar of Companies (RoC), Chennai along with the Certified True Copy of the Order on 28 April 2017. Accordingly, the Scheme has become effective from 28 April 2017 with the appointed date of 01 October 2016.

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Sagar Cements bags Best Management Award 2017
May 02,2017

Sagar Cements has been conferred with Best Management Award by the Government of Telangana for year 2017. It is also the second time that the Company has received this award.

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Karnataka Bank opens branch at Kottayam, Kerala
May 02,2017

Karnataka Bank has opened its 766th branch at Kottayam, Kerala on 02 May 2017.

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Board of Kitex Garment approves further investment in Kitex USA LLC
May 02,2017

Kitex Garment announced that the Board of Directors at its meeting held on 28 April 2017 has approved further investment upto $ 1.5 million in the capital of Kitex USA LLC for the FY 2017-18.

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Aditya Vision to hold board meeting
May 02,2017

Aditya Vision will hold a meeting of the Board of Directors of the Company on 8 May 2017, to consider and approve Standalone Financial Results for the period ended 31 March 2017.

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