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Board of Nestle India recommends final dividend
Feb 16,2017

Nestle India announced that the Board of Directors of the Company at its meeting held on 15 January 2017, inter alia, have recommended the final dividend of Rs 23 per equity Share (i.e. 230%) , subject to the approval of the shareholders.

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Board of CESC recommends dividend
Feb 16,2017

CESC announced that the Board of Directors of the Company at its meeting held on 15 February 2017, inter alia, have recommended the dividend of Rs 10 per equity Share (i.e. 100%) , subject to the approval of the shareholders.

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Reliance Infrastructure intimates of incorporation of Dassault Reliance Aerospace
Feb 16,2017

Reliance Infrastructure promoted Reliance Aerostructures Joint Venture (JV) with Dassault Aviation DASSAULT RELIANCE AEROSPACE (DRAL) has been incorporated.

Eric Trappier, Chairman of Dassault Aviation France, will be the Chairman, and Anil D Ambani, Chairman of Reliance Group, will be the Co-Chairman of DRAL.

Reliance Aerostructure (RAL) will have 51% shareholding in the JV, while Dassault Aviation (DA) will hold 49%.

On 23 September 2016, India and France signed a purchase agreement for supply of 36 Rafale fighter jets at a value of n++7.87 billion, or about Rs.60,000 crore. The contract includes a 50% offset obligation to the tune of approximately Rs. 30,000 crore, which is the largest ever offsetcontract in the history of India. DRAL will be a key player in the execution of offset obligations.

DRAL has finalized the Infrastructure requirements at Dhirubhai Aerospace Park at Mihan, Nagpur and the construction work for the greenfield facility will start in May 2017, and production by end-2017.

DRAL will execute the programs in phases, with Phase I resulting in the generation of more than 700 highly-skilled direct jobs and 2,800 indirect jobs.

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Super Crop Safe receives GMP Certificate
Feb 16,2017

Super Crop Safe has received from GMP (Good Manufacturing Practice) Certificate no: G-RS-1702-1587 issued on 02 February 2017 and valid till01 February 2020 after successful inspection of manufacturing facilities of Nutraceuticals - Spirulina Powder, Tablet, Capsules and other Spirulina based Formulations and Compliance with the requirement of the GMP (Good Manufacturing Practice). This will facilitate the Company toexpand market ofNutraceuticals- Spirulina Po wder, Tablet, Capsules and other Spirulina based Formulations in domestic as well as international market.

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IL&FS Engineering & Construction Co secured two pipeline laying contract worth Rs 123.05 crore
Feb 16,2017

IL&FS Engineering & Construction Co has received Fax of Acceptance from Gas Authority of India for two pipeline laying contracts worth Rs 123.05 crore (plus Service Tax) in Kerala and Karnataka. Both the spreads are contiguous and are part of Kochi-Koottanad- Mangalore pipeline project.

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City Union Bank opens two branches
Feb 16,2017

City Union Bank has inaugurated two new branches at TVS Nagar and Modakurichi in Tamil Nadu on 16 February 2017.

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BEL receives Offset Contract for CoMPASS
Feb 16,2017

Elbit Systems Electro-Optics Elop (ELOP), Israel has awarded Bharat Electronics an Offset Contract for the supply of 10 numbers of CoMPASS Systems for use in the Light Combat Helicopters (LCH) being manufactured by Hindustan Aeronautics (HAL). The CoMPASS Offset contract was awared to Bharat Electronics at Aero India 2017, Bangalore on 15 February 2017.

BEL has entered into a Technical Collaboration Agreement with ELOP for the joint production and D-Level maintenance of Compact Multi-Purpose Advanced Stabilised System (CoMPASS, the trade name for EO/IR payload) for the helicopter programmes.

BEL has absorbed transfer of technology (ToT) for production and maintenance of CoMPASS in India. BEL will not only supply but also provide maintenance support for CoMPASS to the user.

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State Bank of Travancore to merge with State Bank of India
Feb 16,2017

State Bank of Travancore announced that the Finance Minister of India, in a press briefing on 15 February 2017, has announced that the Cabinet has approved the proposal for merger of State Bank of Travancore (SBT) with State Bank of India.

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State Bank of Bikaner and Jaipur to merge with State Bank of India
Feb 16,2017

State Bank of Bikaner and Jaipur announced that the Finance Minister of India, in a press briefing on 15 February 2017, has announced that the Cabinet has approved the proposal for merger of State Bank of Bikaner & Jaipur (SBBJ) with State Bank of India.

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Avance Technologies to hold board meeting
Feb 16,2017

Avance Technologies will hold a meeting of the Board of Directors of the Company on 3 March 2017.

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Board of Greaves Cotton recommends dividend
Feb 16,2017

Greaves Cotton announced that the Board of Directors of the Company at its meeting held on 14 February 2017, inter alia, have recommended the dividend of Rs 4 per equity Share (i.e. 200%) , subject to the approval of the shareholders.

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Asian Paints to acquire Causeway Paints Lanka
Feb 16,2017

Asian Paints announced that Berger International (BIPL), Singapore, indirect subsidiary of the Company, has entered into a Share Purchase Agreement with the existing shareholders of Causeway Paints Lanka (Private) (CPLPL), Sri Lanka, for acquisition of 100% stake in CPLPL in an all cash deal (transaction).

The aforesaid transaction is with an objective of enhancing the groups presence in the Sri Lankan market where the Company through its subsidiary Company, Asian Paints (Lanka), already has operations.

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Hindustan Oil Exploration Company consortium awarded two contract areas
Feb 16,2017

Hindustan Oil Exploration Company announced the award of two contract areas to the company in consortia with Oil India, Prize Petroleum and other private company by the Government of India in the recently concluded bidding for Discovered Small Field Bids Round (DSF 2016).

One of the contract area is offshore field B-80, located in the Mumbai Offshore about 56 square kilometer discovered by ONGC in 1997. This discovered field produced about 3,737 barrels of oil and 7.5 million cubic feet of gas per day during the testing with in place reserves of about 13.20 million barrels of oil and gas in place of 10.50 billion cubic feet.

The other contract area is onshore field Kherem located in Arunachal Pradesh, discovered by Oil India in 1994 with the area of 16.45 square kilo meter, with initial oil in place of about 3 million barrels and gas in place of about 17 billion cubic feet.

HOEC has 50% participating interest in the offshore field B-80 and 40% in the onshore field Kherem. HOEC is the Operator for both the fields.

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Dr Reddys Laboratories gets unfavourable decision of US District Court
Feb 16,2017

Dr Reddys Laboratories announced that the United States District Court for the District of New Jersey issued its opinion regarding Helsinn Healthcares patent infringement claims against Dr Reddys Laboratories.

The Court found that Dr Reddys proposed palonosetron hydrochloride 0.25 mg / 5 ml product infringes claims of US patent Nos. 7947724, 8729094 and 9066980, and that the asserted claims of the 094 and 098 patents were not valid.

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Honble Bombay High Court dismisses winding up petition against Ruchi Soya
Feb 16,2017

Ruchi Soya Industries announced that the Honble Bombay High Court has dismissed the winding up petition against Ruchi Soya filed by IDFC Bank. The order of dismissal was pronounced on 14 February 2017.

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