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Board of Gillanders Arbuthnot & Company allots preference shares
Nov 21,2016

Gillanders Arbuthnot & Company announced that the Board of Directors at its Meeting held on 19 November 2016, inter alia, has decided /approved the following:

- Allotment of 6,50,000 numbers of 7.75% Cumulative Redeemable Preference Shares of Rs.100/-each to Kothari Investment & Industries and 5,60,000 numbers of 7.75% Cumulative Redeemable Preference Shares of Rs.100/- each to Kothari & Company Private Limited on private lacement basis being the Promoter Group Companies.

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HDFC declines after announcement of selling Unitechs loan
Nov 21,2016

The announcement was made after market hours on Friday, 18 November 2016.

Meanwhile, the S&P BSE Sensex was down 271.37 points or 1.04% at 25,878.87.

On BSE, so far 9,026 shares were traded in the counter as against average daily volume of 4.62 lakh shares in the past two weeks. The stock hit a high of Rs 1,252 and a low of Rs 1,223 so far during the day. The stock had hit a 52-week low of Rs 1,012 on 25 February 2016. The stock had hit a record high of Rs 1,463.25 on 7 September 2016. The stock underperformed the market over the past one month till 18 November 2016, sliding 7.46% compared with 6.78% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 8.97% as against Sensexs 7.02% fall.

The large-cap company has equity capital of Rs 316.80 crore. Face value per share is Rs 2.

Detailing the rationale behind the move, HDFC stated that over the last three decades, it has funded various projects of the Unitech Group and that HDFCs current exposure to the Group involves funding of certain projects across various locations. In the recent past, the Unitech Group has faced sluggishness in the sale of apartments in its projects. This has affected the cashflows of the Group, which in turn has had an adverse impact on the progress of construction, and has resulted in irregular servicing of the loans. Under these circumstances, HDFC has assigned the outstanding loans in these projects to JM Financial Asset Reconstruction Company (JMFARC). All these projects are located in prime locations, are financially viable but require additional funding. JMFARC will arrange for funds to support and kick-start these projects. The progress of the projects and the resultant cash flows will thereafter be closely monitored.

Against the total dues of Rs 869 crore in respect of these projects, JMFARC has paid HDFC Rs 155 crore upfront and has issued security receipts (SRs) to HDFC amounting to Rs 705 crore which will be redeemable over the period of construction. Though these accounts were standard assets as at 30 September 2016, and turned non-performing assets (NPA) only at the end of October 2016, in view of the irregular payment history, HDFC said, it has over the last few quarters as a matter of prudence, made provisions amounting to Rs 240 crore in respect of these accounts. No further provisioning is required as a result of the sale of the loans to JMFARC. After considering the provision of Rs 240 crore already made (34% of the SRs) the net carrying value of the SRs will be Rs 465 crore.

HDFCs consolidated net profit rose 16.1% to Rs 2446.21 crore on 16.5% increase in total income to Rs 14526.69 crore in Q2 September 2016 over Q2 September 2015.

HDFC is Indias first retail housing finance company and is currently one of the largest originators of housing loans in the country.

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Board of Capital Trust allots equity shares under ESOS
Nov 21,2016

The Board of Capital Trust at its meeting held on 19 November 2016 has allotted 143,915 equity shares of face value of Rs 10 each to Capital Welfare Trust under Capital Trust ESOS 2016. Consequently, the paid up capital of the Company has increased to 14811415 equity shares of face value of Rs 10 each.

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Outcome of board meeting of Vardhman Industries
Nov 21,2016

The Board of Vardhman Industries at its meeting held on 19 November 2016 has decided to purchase 220000 equity shares of Rs 100 each in the capital of Vallabh Steel West. The said purchase transaction has been effective on 19 November 2016 and with this effect Vallabh Steel West has become an associate company of Vardhman Industries.

The Board has decided to sell 2000000 equity shares of Rs 10 each in the capital of its associate company namely JSW Vallabh Tinplate. The sale transaction has been effective on 19 November 2016 and with this effect JSW Vallabh Tinplate ceased to be associate company of Vardhman Industries.

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Outcome of board meeting of Integrated Capital Services
Nov 21,2016

The Board of Integrated Capital Services at its meeting held on 19 November 2016 transacted the following -

Took on record the resignation of R L Kaura from the post of Director Finance with effect from 14 November 2016.

The proposed scheme of merger of Deora Associates with the Company was discussed and will be continued at board meeting scheduled to be held on 30 November 2016.

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Arvind provides update on subsidiary - Arvind Fashions
Nov 21,2016

Arvind announced that Arvind Fashions, a wholly owned Subsidiary of the Company, has completed the transaction and raised equity capital of Rs. 740 crore pursuant to Share Subscription and Shareholders Agreement dated 25 October 2016 signed with three funds managed by Multiples. The transaction was done at overall enterprise valuation of Rs. 8000 crore for Companys branded apparel business.

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Zydus receives final approval for Metronidazole Tablets
Nov 21,2016

Zydus Cadila has received final approval from USFDA to market Metronidazole Tablets USP in strengths of 250 mg and 500 mg. The drug which is used to treat infections caused by bacteria or parasite will be produced at the groups formulations manufacturing facility at Baddi.

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Board of Spice Mobility decides not to acquire any stake in New Spice Solutions
Nov 21,2016

Spice Mobility announced that the Board of Directors of the Company has now decided not to acquire any stake in New Spice Solutions.

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Board of Spice Mobility decides not to acquire any stake in New Spice Solutions
Nov 21,2016

Spice Mobility announced that the Board of Directors of the Company has now decided not to acquire any stake in New Spice Solutions.

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3M India drops after dull Q2 financial performance
Nov 21,2016

The result was announced after market hours on Friday, 18 November 2016.

Meanwhile, the S&P BSE Sensex was down 55.89 points, or 0.21%, to 26,094.35

On BSE, so far 52 shares were traded in the counter as against average daily volume of 270 shares in the past one quarter. The stock hit a high of Rs 11,910 and a low of Rs 11,640.30 so far during the day. The stock hit a record high of Rs 15,200 on 26 July 2016. The stock hit a 52-week low of Rs 9,405 on 27 January 2016.

The large-cap companys equity capital is Rs 11.27 crore. Face value per share is Rs 10.

3M India provides industrial, automotive, electrical, telecom and safety products.

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Equitas Holdings allots equity shares
Nov 21,2016

Equitas Holdings announced that the Stakeholders Relationship Committee (SRC) of Board of Directors of the Company has, on 19 November 2016, approved allotment of 1,21,310 Equity shares of Rs.10/- each to the option grantees who have exercised their options vide Resolution by Circulation dated 18 November 2016.

The paid up share capital of the Company will accordingly increase from Rs. 337,09,37,680 to Rs. 337,21,50,780.

The new equity shares issued shall rank pari passu with existing equity shares.

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RCF falls after poor Q2 result
Nov 21,2016

The result was announced after market hours on Friday, 18 November 2016.

Meanwhile, the S&P BSE Sensex was down 40.46 points, or 0.15%, to 26,109.78

On BSE, so far 21,000 shares were traded in the counter, compared with average daily volume of 2.94 lakh shares in the past one quarter. The stock hit a high of Rs 42 and a low of Rs 41.05 so far during the day. The stock hit a 52-week high of Rs 53.75 on 7 July 2016. The stock hit a 52-week low of Rs 35.25 on 12 February 2016.

The small-cap company has an equity capital of Rs 551.69 crore. Face value per share is Rs 10.

State-run Rashtriya Chemicals and Fertilizers (RCF) is one of the leading producers of urea in India. The Government of India (GoI) currently holds 80% stake in RCF (as per the shareholding pattern as on 30 September 2016).

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HPL Electric & Power provides business update
Nov 21,2016

HPL Electric & Power announced that the Company has reduced its debt around Rs 320 crore from IPO proceeds. The Company was listed on stock exchange on 04 October 2016. The Company has order book pipeline of around Rs 365 crore including lighting and switchgear segments and exports have grown by 14.5%. Order book includes Rs 234 crore of meter orders from utilities including a new order from Gujarat Urja Vikas Discoms in Q2FY2017.

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NBCC (India) slips after muted Q2 outcome
Nov 21,2016

The result was announced after market hours on Friday, 18 November 2016.

Meanwhile, the S&P BSE Sensex was down 83.75 points or 0.32% at 26,066.49

On BSE, so far 27,000 shares were traded in the counter as against average daily volume of 1.91 lakh shares in the past one quarter. The stock hit a high of Rs 223 and a low of Rs 212.40 so far during the day. The stock had hit a record high of Rs 299.20 on 5 October 2016. The stock had hit a 52-week low of Rs 162 on 12 February 2016.

The large-cap company has equity capital of Rs 120 crore. Face value per share is Rs 2.

NBCC (India) is a blue-chip Government of India (GoI) Navratna Enterprise under the Ministry of Urban Development, in construction sector. The GoI held 90% stake in the firm (as per shareholding pattern as on 30 September 2016).

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Board of Sharad Fibres & Yarn Processors approves scheme of amalgamation
Nov 21,2016

The Board of Sharad Fibres & Yarn Processors at its meeting held on 19 November 2016 has approved the scheme of amalgamation of BST Exports (first transferor company), wholly owned susbsidiary of Sharad Fibres & Yarn Processors , Dalmia Exim (second transferor company), wholly owned subsidiary of BST Exports with Sharad Fibres & Yarn Processors (transferee company).

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