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Lupin receives tentative approval for Diclofenac Capsules
Dec 06,2016

Lupin announced that its US subsidiary Lupin Pharmaceuticals, Inc. has received tentative approval for its Diclofenac Capsules USP, 18 mg and 35 mg from the United States Food & Drug Administration to market a generic version of Iroko Pharmaceuticals LLCs Zorvolexn++ Capsules 18 mg and 35 mg.

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Amal announces resignation of MD
Dec 06,2016

Amal announced that in view of other professional engagements, Prashant Ogale - Managing Director of the Company has resigned and will be relieved from his duties on 14 December 2016 after office hours.

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Outcome of board meeting of Syndicate Bank
Dec 06,2016

Syndicate Bank announced that the Board of Directors in its meeting held on 28 November 2016 has accorded approval for the Bank to exercise the call option for Upper Tier II Bonds 2022 Series of Rs. 200.10 crore, which is due for call option on 28 February 2017, subject to obtaining necessary approvals from Government of India/ Regulatory Authorities.

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Dabur India declines on near term pressure on business from demonetization
Dec 06,2016

The company gave an update on impact of demonetization by the government on the company after market hours yesterday, 5 December 2016.

Meanwhile, the BSE Sensex was up 115.36 points, or 0.44%, to 26,470.30.

On the BSE, 20,113 shares were traded in the counter so far, compared with average daily volume of 95,340 shares in the past one quarter. The stock had hit a high of Rs 284.95 and a low of Rs 280.25 so far during the day.

The large-cap company has equity capital of Rs 176.15 crore. Face value per share is Re 1.

Dabur India said that the impact varies across channels and geographies and stress is highest for wholesalers and small town grocery shops, who are facing a severe liquidity crisis and are destocking. The impact is likely to be positive on modern trade outlets and plastic money enabled retailers who are likely to benefit from this change.

On account of continuity of current uncertain situation it is difficult to quantify the impact on Q3 December 2016 at this point of time, however it is temporary in nature and situation will improve with increase in availability of new currency.

In the meanwhile, the company is focusing more on modern retail, e-commerce and institutional sales and also is encouraging general trade retailers to adopt cashless payment systems. This will help in mitigating the overall impact of demonetization and pave the way for normalization in the next few months, Dabur added.

It may be recalled that government from 9 November 2016 had banned legal tender of higher denomination notes; namely Rs 500 and Rs 1000 notes, dubbed as demonetization in its crackdown on black money.

Dabur India is one of the largest FMCG companies in India. The company operates in key consumer products categories like hair care, oral care, health care, skin care, home care & foods.

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Inox Wind advances after order win from SJVN
Dec 06,2016

The announcement was made during market hours today, 6 December 2016.

Shares of SJVN gained 0.45% to Rs 33.40.

Meanwhile, the BSE Sensex was up 103.46 points, or 0.39%, to 26452.81.

On the BSE, 18,235 shares were traded in Inox Winds counter so far, compared with average daily volume of 75,044 shares in the past one quarter. The stock had hit a high of Rs 194.45 and a low of Rs 187.25 so far during the day.

The mid-cap company has equity capital of Rs 221.92 crore. Face value per share is Rs 10.

Inox Wind bagged an order for a 50 megawatts wind power project to be deployed in Gujarat from SJVN, category-I Mini Ratna, central public sector enterprise and hydroelectric power major. The project is scheduled to be commissioned by November 2017 and will be executed on turnkey basis.

On a consolidated basis, net profit of Inox Wind declined 39.9% to Rs 56.42 crore on 21.3% decline in net sales to Rs 797.67 crore in Q2 September 2016 over Q2 September 2015.

Inox Wind is a fully integrated player in the wind energy market with three manufacturing plants at Gujarat, Himachal Pradesh and Madhya Pradesh.

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L&T Infotech provides updates on its contract with Insurity
Dec 06,2016

L&T Infotech announced that it has completed transition phase of strategic long term managed services engagement with Insurity to provide end-to-end quality assurance services across clients and product lines. The multi-year, multi-million dollar contract was signed in July 2016. The transition phase for this complex engagement was completed in 90 days, as stipulated.

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Board of Saboo Sodium Chloro to consider preferential issue of shares
Dec 06,2016

Saboo Sodium Chloro announced that a meeting of the Board of Directors of the Company will be held on 15 December 2016, interalia to receive, consider and take on record the following:

To Discuss a Suitable plan relating to further issue of shares on preferential allotment basis.

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Nectar Lifescience to announce September quarter results
Dec 06,2016

Nectar Lifescience announced that a meeting of the Board of Directors of the company will be held on 14 December 2016 to consider and approve, inter alia amongst items, the Unaudited Financial Results of the Company for the Quarter ended on 30 September 2016.

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Board of Marathon Nextgen Realty to consider September quarter results
Dec 06,2016

Marathon Nextgen Realty announced that at the Meeting of Board of Directors of the Company is scheduled to be convened on 14 December 2016, to consider interalia the Un-audited Financial Results for the quarter ended 30 September 2016.

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Oracle Financial drops as devaluation in Egyptian Pound to hit receivables
Dec 06,2016

The announcement was made after market hours yesterday, 5 December 2016.

Meanwhile, the BSE Sensex was up 82.16 points, or 0.31%, to 26,431.26.

On BSE, so far 220 shares were traded in the counter, compared with an average volume of 2,109 shares in the past one quarter. The stock hit a high of Rs 3,020 and a low of Rs 2,994.40 so far during the day.

The large-cap company has an equity capital of Rs 42.51 crore. Face value per share is Rs 5.

Oracle Financial Services Software announced that due to significant devaluation of Egyptian Pound post the recent liberalization of the exchange rates by the Egypt Government, the company is estimating a charge of Rs 60 crore on its receivables from customers in Egypt during the current quarter.

Oracle Financial Services Software is a world leader in providing products and services to the financial services industry and is a majority owned subsidiary of Oracle Corporation.

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Board of Bloom Industries to consider sale of assets and shifting of registered office
Dec 06,2016

Bloom Industries announced that Meeting of the Board of Directors of the Company will be held on 08 December 2016, inter alia, to transact the following Business:

1. To Consider and decide sale of Companys Land, Building and Other Assets.

2. Shifting the Registered Office of the Company from its present location to 5, Devpark, Opp. Chandan Cinema, J,V.P.D.Scheme, Juhu, Vile-Parle (W), Mumbai - 400049, under Section 12 of the Companies Act, 2013.

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Fiberweb (India) receives new export order worth Rs 15.4 crore
Dec 06,2016

Fiberweb (India) has received a new export order worth Rs 15.4 crore from USA. This is a repeat order and the delivery is after six months as there is over-booked position of orders in the company.

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Bajaj Hindusthan Sugar to announce Q2 results
Dec 06,2016

Bajaj Hindusthan Sugar announced that a meeting of Board of Directors of Company is scheduled to be held on 13 December 2016, inter alia, to take on record and approve the un-audited financial results for the second quarter ended on 30 September 2016 of the Financial Year 2016-17.

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OM Metals Infraprojects jumps after bagging contract
Dec 06,2016

The announcement was made after market hours yesterday, 5 December 2016.

Meanwhile, the S&P BSE Sensex was up 108.95 points or 0.41% at 26,458.05.

On the BSE, 32,584 shares were traded in the counter so far as against average daily volume of 27,622 shares in the past one quarter. The stock had hit a high of Rs 45.50 and a low of Rs 43.50 so far during the day.

The small-cap company has equity capital of Rs 9.63 crore. Face value per share is Re 1.

OM Metals Infraprojects announced that the company has been awarded a works contract for hydro mechanical works package for modernization and renovation of 180 megawatts Baira Siul hydro electric power station in Himachal Pradesh by NHPC. The contract value is Rs 19.91 crore and this contract has to be executed in 28 months time period.

Om Metals Infraprojects is a conglomerate having diverse business activities and interests related to hydro mechanical equipments, turn key solutions for steel fabrication, hydro power developments, real estate, leasing, finance, entertainment centers, hotels and tourism.

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Rupee sags
Dec 06,2016

Rupee on Monday closed lower at 68.2175 per Dollar on Monday (05 December 2016), versus its previous close of 68.03/04 per Dollar last Friday.

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