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HUL in spotlight after signing agreement to sell rice exports business
Mar 18,2016

Hindustan Unilever (HUL) announced that it has signed an agreement for the sale of its rice exports business carried out primarily under the brands Gold Seal Indus Valley and Rozana to LT Foods Middle East DMCC, a group company of LT Foods. HULs decision to divest is in line with its strategy to exit non-core businesses, while continuing to drive its growth agenda in the core packaged foods business. The deal envisages transfer of the brands and inventory for a consideration of Rs 25 crore, subject to adjustments on closing. The transaction is subject to fulfillment of certain conditions and the parties will work together to complete this over the next few months, HUL said. HUL will continue to manage the business until the completion of the transaction, it added. The announcement was made after trading hours yesterday, 17 March 2016.

MOIL said that the state government of Madhya Pradesh has granted mining lease over 48.974 hectare in village Lugma, Tehsil Paraswada of Balaghat District in Madhya Pradesh in favour of the company. The lease has been executed and registered by the company, MOIL said. This area falls under Ukwa mine of the company. The announcement was made after trading hours yesterday, 17 March 2016.

Dewan Housing Finance Corporation (DHFCL) said that it proposes to issue 250 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating to Rs 25 crore on private placement basis. The announcement was made after trading hours yesterday, 17 March 2016.

Crompton Greaves (CG) said it won an order of $35 million (Rs 236 crore approximately) from PT PLN (Persero), the state-owned electricity company of Indonesia, to manufacture and install 28 power transformers ranging from 83.3 mega-volt ampere (MVA) to 167 MVA and rated voltage 500 kilovolt (kV)/150 kV. CGs power transformers will be installed across PT PLNs transmission network, spread over multiple substations and power plants in the Java, Sumatra and Kalimantan provinces of Indonesia. The delivery period is scheduled between May 2016 and March 2017. The power transformers will be manufactured in CGs manufacturing facility in Indonesia. The announcement was made after trading hours yesterday, 17 March 2016.

Religare Enterprises said that meeting of investment and borrowing committee of board of directors of company is scheduled to be held on 22 March 2016 to consider and approve the raising of funds through issue of non-convertible debentures (NCD) on private placement basis. The announcement was made after trading hours yesterday, 17 March 2016.

Oil India said that Moodys Investor Service has confirmed credit rating of Baa2 to the companys senior unsecured regular bond/debenture. The outlook is stable. The announcement was made after trading hours yesterday, 17 March 2016.

Dhanuka Agritech said it has received a licence to manufacture insecticides from Joint Director of Agriculture (Plant & Protection), Rajasthan. Insecticides will be manufactured at the companys unit situated at Keshwana, Kotputli (Jaipur), Rajasthan. The announcement was made after trading hours yesterday, 17 March 2016.

Hinduja Foundries said that the finance committee of the board of directors of the company has decided opening the global depository receipts (GDR) issue on 18 March 2016. Further, a meeting of the finance committee of the board of directors of the company is scheduled to be held on 21 March 2016, to consider and determine the issue price of the GDRs offering. The announcement was made after trading hours yesterday, 17 March 2016.

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Tata Motors in focus after securing an order for supply of electric buses
Mar 17,2016

Tata Motors announced that it has signed a contract to supply 25 Tata Starbus Diesel Series hybrid electric buses with the Mumbai Metropolitan Region Development Authority (MMRDA). This is the single largest order awarded for hybrid electric vehicle technology. The announcement was made after trading hours yesterday, 16 March 2016.

Shares of public sector oil marketing companies (PSU OMCs) will be in spotlight after Indian Oil Corporation (IOCL) yesterday, 16 March 2016, announced an increase in the price of petrol and diesel with effect from the midnight of 16/17 March 2016. Petrol price was hiked by Rs 3.07 per litre and diesel price was raised by Rs 1.90 a litre at Delhi (including state levies) with corresponding price revision in other states. After the latest revision, petrol in Delhi costs Rs 59.68 per litre and diesel costs Rs 48.33 a litre.

Shares of oil exploration & production (E&P) firms, PSU OMCs and aviation firms will be watched after a sharp jump in international crude oil prices yesterday, 16 March 2016. Brent for May settlement was currently up 31 cents at $40.64 a barrel. The contract had jumped $1.59 a barrel or 4.1% to settle at $40.33 a barrel during the previous trading session.

TCS announced the successful launch of Norways first peer-to-peer mobile payment solution with DNB, the largest financial services group in Norway. With 25% of Norways population using DNBs peer-to-peer mobile payments application Vipps within six months of launch, the P2P payment solution has helped DNB become a significant player in the highly competitive mobile payments space in a short space of time. The announcement was made after trading hours yesterday, 16 March 2016.

Wipro announced the launch of cargo reservations, operations, accounting and management information systems (CROAMIS), a next gen end-to-end cargo management system for the aviation industry. CROAMIS has been developed jointly between Wipro and Qatar Airways, through an innovative co-funded model. The announcement was made after trading hours yesterday, 16 March 2016.

Idea Cellular and Videocon Telecommunications mutually agreed to terminate their earlier agreement regarding Transfer of Right to Use 1800 MHz Spectrum in two service areas with immediate effect. The announcement was made before market hours today, 17 March 2016. On 24 November 2015, the Board of Directors of Idea had empowered the company to enter into an acquisition agreement for right to use 1800 MHz spectrum of Videocon Telecommunications (VTL), in the telecom service areas of Gujarat and UP (West) for an aggregate consideration of around Rs 3310 crore, pursuant to the Department of Telecommunications (DoT) Guidelines for Trading of Access Spectrum by Access Service Providers dated 12 October 2015. No joint intimation of this Transfer Agreement for Right to Use Spectrum under Spectrum Trading Guidelines was filed with DoT, by the parties. Also, there is no cost implication to Idea on termination of the agreement.

Meanwhile, Idea Cellular continues to aggressively launch its high speed mobile broadband 4G LTE services. Idea has launched its 4G LTE services in the tenth telecom service area of Maharashtra & Goa, from Nagpur city. The company remains on track to launch 4G LTE services in 750 key towns across 10 telecom circles latest by end of June 2016.

Shriram Transport Finance Company said that it is considering raising funds by issuing secured redeemable non-convertible debentures (NCDs) on private placement of basis. Based on the market conditions the meeting of banking and finance committee will be held during the current month ending 31 March 2016 to consider and approve the terms of such borrowings. The announcement was made after trading hours yesterday, 16 March 2016.

Gammon India said that the securities allotment committee of directors allotted 63.62 lakh equity shares at Rs 11.89 each, aggregating to Rs 7.56 crore, to the companys corporate debt restructuring (CDR) lender, United Bank of India, on conversion of part of its outstanding loan and interest into equity shares of the company. With this allotment, the CDR lenders collectively hold 62.65% of the total equity capital of the company. The announcement was made after trading hours yesterday, 16 March 2016.

IRB Infrastructure Developers said that it received an approval from the Securities and Exchange Board of India (Sebi) for formation of infrastructure investment trust (InvIT). Sebi has granted the certificate of registration to IRB InvIT Fund to which IRB Infrastructure Developers is a sponsor, to carry out the activities as an InvIT subject to the conditions. The announcement was made after trading hours yesterday, 16 March 2016.

VST Tillers Tractors said it signed memorandum of understanding (MoU) with Karnataka Government for establishment of 92 custom hire service centres (CHSC) in nine districts. These CHSCs will provide farm machinery at affordable rental rates to farmers. The hiring and service charges will be determined by the committe constituted for the purpose after taking into consideration farmers affordability and economic feasibility of the CHSC. The announcement was made after trading hours yesterday, 16 March 2016.

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Wipro in spotlight after strategic pact with Schneider Electric
Mar 16,2016

IT major Wipro announced a strategic partnership with Schneider Electric, a global specialist in energy management and automated systems, to develop convergent solutions for Indias Smart Cities. Wipro and Schneider Electric will collaborate to enable the delivery of cost-effective and efficient citizen services to urban and rural communities. Both organizations will jointly develop solutions in the smart city space for India and global markets. Smart Cities have a strong and equal play of operational technology (OT) along with information technology (IT) to provide convergent solutions. Wipro and Schneider already have a strong partnership around IT, Data Centers, connectivity, Intelligent Building Management Systems and Data Center Infrastructure Management solutions. Both the companies are now collaborating to focus on key OT areas like energy optimization, analytics and citizen service improvement for smart cities, Wipro said in a statement. The announcement was made after market hours yesterday, 15 March 2016.

Realty stocks will be in spotlight after the Lok Sabha yesterday, 15 March 2016, approved the Real Estate (Regulation and Development) Bill, 2016. The bill seeks to create a set of rights and obligations for both the consumers and developers and encourage both of them to live up to the expectations of each other as per the agreement entered into by both of them. The bill got passed in Rajya Sabha on 6 March 2016.

Cipla announced that its wholly owned subsidiary Cipla (EU) Limited, UK (Cipla UK) has made an additional investment of $3 million in Chase Pharmaceuticals Corporation Inc., US (Chase) towards full settlement of its obligation under the agreed arrangement for investment in Chase. Consequently, Cipla UKs total investment in Chase would aggregate to approximately $5.12 million for a 16.7% stake on a fully diluted basis. The announcement was made before market hours today, 16 March 2016.

Reliance Power announced after market hours yesterday, 15 March 2016, that a meeting of the board of directors of the company will be held on 18 March 2016 to consider and approve issue of non-convertible debentures on private placement basis.

Balasore Alloys board of directors at its meeting held yesterday, 15 March 2016, approved the issuance of upto 2.30 crore convertible warrants of Rs 5 each, to the promoters group companies on a preferential allotment basis. Out of these warrants, 1 crore warrants shall be converted into equity shares in the next financial year (FY 2017) and the remaining 2.30 crore warrants shall be converted into equity shares in FY 2018 subject to necessary statutory compliances/approvals. Balasore Alloys said that the funds shall be utilized for funding growth, expansion and modernization projects to be undertaken by the company. The announcement was made after market hours yesterday, 15 March 2016.

Puravankara Projects said that ratings agency ICRA has reaffirmed (ICRA) BBB rating for Rs 1650 crore long term credit line of the company including [ICRA] A3+ rating for short term limits (interchangeable). The outlook on the long term rating has been revised from positive to stable. ICRA has also assigned [ICRA BBB] rating for Rs 500 crore long term credit line of the company with a [ICRA]A3+ for short-term limits (interchangeable) for Provident Housing Limited, a 100% and material unlisted subsidiary of the company. Puravankara Projects made the announcement after market hours yesterday, 15 March 2016.

Rana Sugars announced after market hours yesterday, 15 March 2016, that a meeting of its board of directors will be held on 26 March 2016, to give effect to the sale/transfer of power units of Rana Sugars situated in Uttar Pradesh to Rana Energy and Rana Green Power.

Alphageo (India) announced after market hours yesterday, 15 March 2016, that it has received a contract from Oil India for provision of 2D seismic acquisition services in the areas covering parts of Assam & Arunachal Pradesh for an estimated contract value of Rs 102.42 crore. The contract is to be executed by November 2018. This contract is under National Seismic Program for acquisition of 2D Seismic Data in unappraised areas of North East India entrusted to Oil India.

NCC announced after market hours yesterday, 15 March 2016, that its subsidiary, NCC Infrastructure Holdings, has entered into share sale agreement with Sembcorp Utilities for sale of a portion of the stake held in Sembcorp Gayatri Power.

As a part of its strategic initiatives to divest the stake held in the various special purpose vehicles (SPVs) in which it has invested, NCC Infrastructure Holdings (NCCIHL), a subsidiary of NCC, has entered into share sale agreement with Sembcorp Utilities (SCU) for sale of the stake held in Sembcorp Gayatri Power (SGPL) (formerly NCC Power Projects) which is linplementing the 1,320 megawatts (MW) Coal Fired Power Project near Krishnapatnam, Nellore, Andhra Pradesh. The present transaction involves sale of 25.68 crore equity shares of Rs 10 each held by NCCIHL in SGPL to SCU for a gross consideration of Rs 352 crore. NCC is the engineering, procurement, and construction (EPC) contractor for the power project being implemented by SGPL, NCC said in a statement.

SCU is a leading developer, owner and operator of energy and water assets with strong operational and technical capabilities. SCU has over 10,600 MW of power capacity installed and under development with an established presence in Asia and a strong growing presence in emerging markets around the world, NCC added.

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ICICI Bank in spotlight after raising $700 million via offshore bonds
Mar 15,2016

ICICI Bank before market hours today, 15 March 2016 said that the bank through its DIFC (Dubai) branch, priced an issuance of 10 year fixed rate notes of an aggregate principal amount of $700 million. The notes were sold under the rule 144A/RegS format. The notes carry a coupon of 4% and were offered at an issue price of 99.592.

Zee Entertainment Enterprises (Zee) after market hours yesterday, 14 March 2016 announced that its board of directors at a meeting held on 14 March 2016, approved in-principle an acquisition of 100% equity stake in Fly By Wire International (FBW), Bangalore. FBW provides aircraft charter services under a NSOP license obtained from Director General of Civil Aviation (DGCA) and currently owns/operates one Bombardier Challenger 605 aircraft. FBW clocked turnover of Rs 1.33 crore in the financial year ended 31 March 2015.

The acquisition shall be an all-cash deal. In addition to the consideration of Rs 2.75 crore payable for the entire stake in FBW, FBW which has the aircraft as the main asset in its books, also has an outstanding bank loan of Rs 58.50 crore availed earlier by FBW for financing the aircraft, Zee said. Zee initially proposes to acquire 49% equity stake in FBW and the balance 51% equity stake shall be acquired within 5 days of receipt of approval from Ministry of Civil Aviation. The process is expected to be completed by mid-July 2016, Zee said.

During FY 2015-16, subsequent to sale of the smaller aircraft owned by the company, Zee has been chartering the aircraft from FBW on an exclusive basis. However, due to frequent use of the aircraft owned by FBW, besides dependency on the aircraft, the cost of hiring has also increased, Zee said. Hence in order to save costs and for ensuring better operational and administrative efficiency, it is considered expedient to own the aircraft by acquiring 100% equity stake in FBW, Zee said.

Coal India (CIL) will be watched. As on 13 March 2016, CIL and its subsidiaries surpassed half a billion tonne of coal production. Till 13 March 2016, CIL and its subsidiaries produced 501.34 million tonne of coal with a positive growth of 9.1% compared to the same period last year. CIL and subsidiaries also achieved an off-take of 504.09 million tonne with a positive growth of 9.4% compared to same period last year as on 13 March 2016. The announcement was made after trading hours yesterday, 14 March 2016.

Persistent Systems said that on 14 March 2016 it signed an agreement to acquire assets of PRM Cloud Solutions, an Australia-based company engaged in salesforce implementation services. PRM Cloud Solutions is a subsidiary of Datetix Group, a company listed on Australian Securities Exchange (ASX). The announcement was made after trading hours yesterday, 14 March 2016.

Indian Hume Pipe Company said it has received letter of acceptance for executing comprehensive water supply service improvements in Anantapuramu Municipal Corporation (Package - I) under Andhra Pradesh Municipal Development Project (ADMDP) for the contract price of Rs 147.36 crore from Anantapuramu Municipal Corporation, Andhra Pradesh. The announcement was made after trading hours yesterday, 14 March 2016.

Dharani Sugars & Chemicals after trading hours yesterday, 14 March 2016 said that its board of directors will meet on 26 March 2016 to consider allotment of equity shares to promoter group entity Dharani Developers on a preferential basis. Dharani Developers held 9.44% stake in Dharani Sugars & Chemicals as per the shareholding pattern as on 31 December 2015.

Greenply Industries said that its board of directors has approved incorporation of a private company in Singapore as a wholly-owned subsidiary company of Greenply Industries, to cater to export markets of MDF and laminated flooring products.

Further, the board also approved transfer of 3.80 lakh equity shares of Rs 10 each of Himalaya Granites held by the company as an investment, to Saurabh Mittal, a related party of the company, at prevailing market price in one or more transactions. The announcement was made after trading hours yesterday, 14 March 2016.

Satra Properties India said that its board of directors will meet on 1 April 2016 to consider the extension of date of redemption of 18% secured redeemable non-convertible debentures (unlisted) issued on private placement basis alongwith alteration in other terms and conditions. The announcement was made after trading hours yesterday, 14 March 2016.

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Apollo Hospitals in focus after completing acquisition of majority stake in Assam Hospitals
Mar 14,2016

Apollo Hospitals Enterprise announced that it has completed the acquisition of a 51% majority stake in Assam Hospitals, Guwahati. The acquisition of 51% controlling stake is in the form of a primary issuance of shares for a cash consideration of Rs 57.25 crore. The proceeds will be utilitised for refurbishing the hospital including addition of new equipments as well as towards expansion of the existing hospital block, Apollo Hospitals said. Assam Hospitals recorded turnover of Rs 83.10 crore in the the financial year ended 31 March 2015. The announcement was made on Saturday, 12 March 2016.

SeQuent Scientific will be in focus after the Reserve Bank of India (RBI) on Friday, 11 March 2016, notified that foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can now invest up to 49% of the paid-up capital of the company under the Portfolio Investment Scheme (PIS). The RBI has stated that the company has passed resolutions at its Board of Directors level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges.

National Buildings Construction Corporations (NBCC) board of directors at its meeting held on Friday, 11 March 2016, approved 5-for-1 stock split. The announcement was made after market hours on Friday, 11 March 2016.

Jain Irrigation Systems (JISL) announced that it has successfully raised Rs 289.60 crore long term capital from funds/entities managed by Mandala Capital, a fund focused exclusively on investing in agribusiness in India. This is in addition to the preferential issue and allotment of 1.41 crore equity warrants of Rs 80 each issued on 24 February 2016, to the promoters on receipt of 25% deposit, JISL said. This fund raise is part of a total equity investment of $120 million, including an investment by Mandala in Jain Farm Fresh Foods (JFFFL), a wholly owned subsidiary of JISL under which its global food business is being organized, JISL said. The announcement was made after market hours on Friday, 11 March 2016.

Kwality said that its board of directors at a meeting held on 12 March 2016, approved the conversion of 51.81 lakh warrants issued at a price of Rs 48.25 per share into equal numbers of equity shares of face value of Rs 1 each allotted to Sonika Gupta. The announcement was made on Saturday, 12 March 2016.

Gammon India said that it has received a notice of conversion from ICICI Bank acting as a monitoring institution on behalf of the corporate debt restructuring (CDR) lenders for conversion of part of United Bank of Indias outstanding debt into equity shares under the strategic debt restructuring (SDR) package of the company. United Bank of India has decided to convert part of its outstanding debt and interest aggregating to 7.56 crore into equity shares of the company at a price of Rs 11.89 per equity share. Post this conversion the total shareholding of the CDR lenders will be 62.65% of the total equity capital of the company. The announcement was made after market hours on Friday, 11 March 2016.

Indian Hume Pipe Company said it has secured a contract worth Rs 145.15 crore for a water supply project in Alwar, Rajasthan from the government of Rajasthan. The announcement was made after market hours on Friday, 11 March 2016.

CMI said that its board of directors will meet on 19 March 2016, to consider issue of equity shares/warrants/convertible securities on preferential basis to promoter group, associates and non promoters and to decide the relevant date for the purpose of preferential issue. The board would also consider the allotment 7 lakh equity shares in lieu of 7 lakh convertible warrants. Further, the board would discuss current business developments and future plans. The announcement was made after market hours on Friday, 11 March 2016.

Dewan Housing Finance Corporation (DHFL) said that the allotment committee of its board of directors at a meeting held on 11 March 2016, approved the issue and allotment of 2.12 crore warrants at an issue price of Rs 235.515 per warrant to Wadhawan Global Capital, the promoter entity of the company, upon receipt of 25% of the total consideration. The warrants are convertible into equivalent number of equity shares of Rs 10 each and will be allotted within 18 months from the date of allotment in one or more tranches. The announcement was made after market hours on Friday, 11 March 2016.

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Crompton Greaves may gain after consortium with Cofely Fabricom secures new contract
Mar 11,2016

Crompton Greaves after market hours yesterday, 10 March 2016, announced that its consortium with Cofely Fabricom, lemants has secured a new contract for the EnBW Hohe See offshore wind farm in the North Sea. The consortium will design, supply and install the complete offshore substation for the German utility EnBW, Crompton Greaves said in a statement.

Oil & gas exploration stocks will be in focus. In a major policy drive to give a boost to petroleum and hydrocarbon sector, the Government has unveiled a series of initiatives yesterday, 10 March 2016. The Union Cabinet and the Cabinet Committee on Economic Affairs in its meeting has approved Hydrocarbon Exploration Licensing Policy, HELP, an innovative policy for future which provides for a uniform licensing system to cover all hydrocarbons such as oil, gas, coal bed methane etc. under a single licensing framework. There will be marketing and pricing freedom for new gas production from Deepwater, Ultra Deepwater and High Pressure-High Temperature Areas. Policy outlines grant of extension to the Production Sharing Contracts for small, medium sized and discovered fields.

Hero MotoCorp announced after market hours yesterday, 11 March 2016 that it has inauguarated Hero Global Centre of Innovation and Technology (CIT) with an investment of Rs 850 crore in Jaipur, Rajasthan. CIT will design and develop world class products for the global markets.

Shares of Jindal Steel & Power (JSPL) will be in focus. In the backdrop of various media reports about the companys weak financials, JSPL in a press release issued after market hours yesterday, 10 March 2016, said that the companys investment in enhancing steel capacities in Angul and power capacity in Jindal Power (JPL) Tamnar have been completed/commissioned and are in stable level of operation. With these additional capacities and better outlook for steel demand/fair sales price realisation and better outlook for power demand/realization, JSPL said it will be in a better position to generate higher cash flows as compared to last four quarters. The companys efforts in bringing cash through divestment of assets and strategic collaborations through joint ventures (JVs) will add to its cash flows, and also result in reduction in bank borrowings, JSPL said. The company added that it has an excellent track record of meeting all its financial commitments and recent reduction in credit rating, in its opinion, merely presents rating downgrade on technical grounds. JSPL said it had met all its financial commitments till November-December 2015. In discussion with banks, the company has launched 5/25 scheme, and also exploring various options with all lenders to reschedule payments considering likely short/medium term cashflow mis-matches, JSPL said. When these are completed, there will not be any overdue situation, the company added.

Considering better cash flow outlook from better demand/realization for steel/power, rescheduled financial commitments through 5/25 scheme and others and cash flow from disinvestments/JVs, JSPL will be in much stronger position to meet all its liabilities and emerge as financially strong and sustainable company in 2016-17, the company said in a statement.

Linde India announced that it has commissioned the first air separation unit in Odisha, which has started gas supplies to Tata Steels steel-works at Kalinganagar. It may be recalled that Linde India had entered into a long term gas supply contract with Tata Steel, for catering to the gases requirement at its Kalinganagar steel works project. The company had undertaken construction of two air separation units with a total capacity of 2,400 tonnes per day at Tata Steels premises at Kalinganagar, Odisha for supply of gases to Tata Steel as well as for additional liquid products for merchant markets. The announcement was made after market hours yesterday, 10 March 2016.

Educomp Solutions announced that India Education Fund, a Sebi registered venture capital fund, redeemed all its units issued to the company. Educomp Solutions said it has received an amount of Rs 15 crore from the redemption of all its units held in India Education Fund. The announcement was made after market hours yesterday, 10 March 2016.

Container Corporation of India will be in focus. The government said yesterday, 10 March 2016, that offer for sale (OFS) for 5% divestment of paid-up equity out of Government of India for equity shares of 97.48 lakh shares amounts to Rs 1165 crore at floor price. The total demand for the OFS from retail and non retail investors, which got over yesterday, 10 March 2016 was for 1.93 crore equity shares amounting to Rs 2317.20 crore.

Welspun Corp announced before market hours today, 11 March 2016, that the company has won an order for supply of 2 lakh metric tonnes pipes for an offshore project in the Middle East. With the addition of this order, current order book of the company has crossed 11.36 lakh metric tonnes worth Rs 6500 crore.

Sri Adhikari Brothers Television Network announced before market hours today, 11 March 2016, that the board of directors of the company at its meeting held on 10 March 2016,approved issuance and allotment of 23.81 lakh fully paid-up redeemable preference shares of the company to the shareholders of Sri Adhikari Brothers Assets Holding on proportionate basis pursuant to the Composite Scheme of Amalgamation and Arrangement between Maiboli Broadcasting and Sri Adhikari Brothers Assets Holding and Sri Adhikari Brothers Television Network and UBJ Broadcasting and HHP Broadcasting Services and MPCR Broadcasting Service and TV Vision and SAB Events & Governance Now Media and their respective shareholders.

Skipper announced after market hours yesterday, 10 March 2016 that the company has secured two new orders from Power Grid Corporation of India for the supply of transmission towers in the domestic market. The total order is valued to be approximately worth Rs 120 crore.

Balasore Alloys announced after market hours yesterday, 10 March 2016 that a meeting of the board of directors of the company will be held on 15 March 2016 for issuance of the securities to the promoters group companies on preferential basis for the purpose of funding growth, expansion and modernization projects to be undertaken by the company.

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Bhel may decline after ratings downgrade
Mar 10,2016

Shares of Bharat Heavy Electricals (Bhel) will be in focus after ratings agency CRISIL in a report dated 9 March 2016, downgraded its rating on the long-term bank facilities of Bhel to CRISIL AA+/Negative from CRISIL AAA/Negative. CRISIL has reaffirmed its ratings on the companys short-term bank facilities at CRISIL A1+. The downgrade reflects CRISILs belief that Bhels business risk profile will remain constrained over the medium term by continued weak profitability and stretch in working capital cycle. CRISIL expects Bhels profitability to remain under pressure, and its working capital stretched over the medium term on account of the challenging operating environment in the power sector. The rating may be further downgraded if project execution is slower than expected and costs remain high, leading to continued losses and a high receivable position, CRISIL said. Conversely, the outlook may be revised to stable if profitability improves, backed by a structural revival in the power sector, translating into faster project execution, and improvement in working capital position, CRISIL said.

HDFC announced after market hours yesterday, 9 March 2016, that it intends to raise Rs 525 crore through private placement of senior secured redeemable non-convertible debentures. The coupon rate of debentures is 8.72% per annum with a tenor of 3 years 35 days. The issue opens and closes on the same day on 11 March 2016. The object of the issue is to augment the long-term resources of the company. The proceeds of the issue would be utilized for financing/refinancing the housing finance business requirements of the company.

Bajaj Auto said that the board of directors of the company at its meeting held yesterday, 9 March 2016, has considered and declared an interim dividend of Rs 50 per share for the year ending 31 March 2016. The announcement was made after trading hours yesterday, 9 March 2016.

The Reserve Bank of India (RBI) has announced removal of restrictions placed on the purchase of shares of Kotak Mahindra Bank by foreign investors. The RBI said that the aggregate share holdings by foreign investors in the private sector bank has gone below the prescribed limit stipulated under the prevailing foreign direct investment (FDI) policy and hence the restrictions are removed. The RBI made the announcement after trading hours yesterday, 9 March 2016.

Corporation Bank announced that its board of directors at a meeting held on 8 March 2016, approved raising of capital of the bank to the extent of Rs 1000 crore in one or more tranches with Green Shoe option if any by way of either issue and allotment of equity shares on preferential basis or by way of additional Tier I bonds or through various other means subject to necessary approvals. This is exclusive of earlier approval of the board on 6 November 2014 where in Rs 500 crore by way of additional Tier I bonds and Rs 500 crore by way of Tier II bonds is yet to be raised, Corporation Bank said. The announcement was made after market hours yesterday, 9 March 2016.

Greenply Industries said it has received permission from the Excise Authorities to avail the benefit of exemption and consequential refund of excise duty under Notification dated 25 April 2007 for a period of 10 years from July 2015, in respect of the companys plywood unit situated at Tizit (Nagaland). The announcement was made after market hours yesterday, 9 March 2016.

IVRCL after market hours yesterday, 9 March 2016 said it has made an allotment of 18.19 crore equity shares at a price of Rs 8.765 per share to the banks/lenders as part of strategic debt restructuring (SDR).

PTC India after market hours yesterday, 9 March 2016, announced that PTC Energy has achieved successful commissioning of its 30 megawatts (MW) wind power project at Jaora, Ratlam district in Madhya Pradesh.

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Maruti Suzuki India in focus after launch of first compact urban sport utility vehicle
Mar 09,2016

Maruti Suzuki India (MSIL) after market hours yesterday, 8 March 2016, announced that it has launched its first compact urban sport utility vehicle (SUV), Vitara Brezza, at a striking price point. Bookings for the Vitara Brezza also opened yesterday, 8 March 2016 at the companys 1,799 strong dealer network across the country, MSIL said. With Vitara Brezza, MSIL is now present across all critical segments of the passenger vehicle market, the company said in a statement. The introductory price for the base variant of Vitara Brezza is Rs 6.99 lakh ex-showroom Delhi and Rs 7.35 lakh ex-showroom Mumbai.

Container Corporation of India (Concor) will be in focus as its promoter and principal shareholder Government of India (GoI) has decided to sell up to 97.48 lakh equity shares, constituting 5% of the total paid up equity share capital of the company through Offer for Sale (OFS) via the stock exchanges mechanism. The floor price for the OFS has been fixed at Rs 1,195 per share. Bidding for the shares in the OFS by non-retail investors takes place in a single trading session called T day today, 9 March 2016. However, those non-retail investors who have placed their bids on T day and have chosen to carry forward their bids to T+1 day will be allowed to revise their bids on T+1 day. Bidding by retail investors will take place in a single trading session called T+1 day on Thursday, 10 March 2016. GoI currently holds 61.79% stake in Concor (as per shareholding pattern as on 31 December 2015). The OFS floor price of Rs 1,195 per share is at a discount of 2.58% to the stocks closing price of Rs 1,226.65 on BSE yesterday, 8 March 2016.

Shares of Future Consumer Enterprise (FCEL) and LT Foods will be in spotlight. FCEL said that its board of directors at a meeting held yesterday, 8 March 2016, considered and has in-principally approved entering into a joint venture arrangement with LT Foods, a leading company undertaking the business of rice, for possible opportunities to manufacture, market and distribution of rice and other products. The announcement was made after market hours yesterday, 8 March 2016.

Ashoka Buildcon after market hours yesterday, 8 March 2016, announced that a consortium of the company along with Bhartia Infra Projects has received letter of acceptance from National Highways & Infrastructure Development Corporation (NHIDCL) for a highway project in Arunachal Pradesh to be executed in engineering, procurement and construction (EPC) mode. The accepted bid value of the project is Rs 155.81 crore. Ashoka Buildcons share in the consortium is 49%.

Elecon Engineering Company said that the company has been awarded an order from Garden Reach Shipbuilders and Engineers for supply of Marine Gearboxes aggregating worth of Rs 225 crore. The announcement was made after market hours yesterday, 8 March 2016.

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Maruti Suzuki India in focus after launch of compact urban sport utility vehicle
Mar 09,2016

Maruti Suzuki India (MSIL) after market hours yesterday, 8 March 2016, announced that it has launched its first compact urban sport utility vehicle (SUV), Vitara Brezza, at a striking price point. Bookings for the Vitara Brezza also opened yesterday, 8 March 2016 at the companys 1,799 strong dealer network across the country, MSIL said. With Vitara Brezza, MSIL is now present across all critical segments of the passenger vehicle market, the company said in a statement. The introductory price for the base variant of Vitara Brezza is Rs 6.99 lakh ex-showroom Delhi and Rs 7.35 lakh ex-showroom Mumbai.

Container Corporation of India (Concor) will be in focus as its promoter and principal shareholder Government of India (GoI) has decided to sell up to 97.48 lakh equity shares, constituting 5% of the total paid up equity share capital of the company through Offer for Sale (OFS) via the stock exchanges mechanism. The floor price for the OFS has been fixed at Rs 1,195 per share. Bidding for the shares in the OFS by non-retail investors takes place in a single trading session called T day today, 9 March 2016. However, those non-retail investors who have placed their bids on T day and have chosen to carry forward their bids to T+1 day will be allowed to revise their bids on T+1 day. Bidding by retail investors will take place in a single trading session called T+1 day on Thursday, 10 March 2016. GoI currently holds 61.79% stake in Concor (as per shareholding pattern as on 31 December 2015). The OFS floor price of Rs 1,195 per share is at a discount of 2.58% to the stocks closing price of Rs 1,226.65 on BSE yesterday, 8 March 2016.

Shares of Future Consumer Enterprise (FCEL) and LT Foods will be in spotlight. FCEL said that its board of directors at a meeting held yesterday, 8 March 2016, considered and has in-principally approved entering into a joint venture arrangement with LT Foods, a leading company undertaking the business of rice, for possible opportunities to manufacture, market and distribute rice and other products. The announcement was made after market hours yesterday, 8 March 2016.

Ashoka Buildcon after market hours yesterday, 8 March 2016, announced that a consortium of the company along with Bhartia Infra Projects has received letter of acceptance from National Highways & Infrastructure Development Corporation (NHIDCL) for a highway project in Arunachal Pradesh to be executed in engineering, procurement and construction (EPC) mode. The accepted bid value of the project is Rs 155.81 crore. Ashoka Buildcons share in the consortium is 49%.

Elecon Engineering Company said that the company has been awarded an order from Garden Reach Shipbuilders and Engineers for supply of Marine Gearboxes aggregating worth of Rs 225 crore. The announcement was made after market hours yesterday, 8 March 2016.

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Coal India may advance after declaring interim dividend
Mar 08,2016

Coal India said that the board of directors of the company at its meeting held on 5 March 2016, has approved payment of interim dividend of Rs 27.40 per share for the year ending 31 March 2016. The announcement was made on Saturday, 5 March 2016. The stock offers a dividend yield of 8.42% based on its closing price of Rs 325.20 on the BSE on Friday, 4 March 2016.

Meanwhile, the Prime Minister Narendra Modi on Friday, 4 March 2016, reviewed the progress of key infrastructure sectors including power, coal, housing, ports, and Digital India, a statement released by the government on Saturday, 5 March 2016 said. Coal India has achieved a 9.2% increase in production this year, as compared to an average of just 3% growth over the last 5 years, the government said in a statement.

Asian Paints after trading hours on Friday, 4 March 2016, announced that it has filed First Information Report (FIR) with the Police department against its Registrar & Transfer Agent Sharepro Services (India) Pvt. Ltd. and its employees on certain irregularities by Sharepro with respect to share transfer operations and dividend encashment activities. Asian Paints has issued a termination notice to Sharepro for the termination of Registrar & Transfer Agent services with effect from 1 April 2016. The company is currently in the process of appointing a new Registrar & Transfer Agent.

L&T has completed the transaction for the sale of its casting manufacturing unit located at Coimbatore to Australias Bradken Limited for total consideration of Rs 163 crore. The business transfer agreement was signed in November 2014. This unit clocked revenue of Rs 122 crore in the year ended 31 March 2015 (FY 2015), which was less than 1% of the total revenue of the company for the year. The sale of the Coimbatore foundry is in line with the companys strategic plan to exit non-core businesses and rationalize its portfolio. The company continues to operate two other foundries in Odisha and Gujarat. L&T made the announcement after trading hours on Friday, 4 March 2016.

Stocks of public sector banks (PSU banks) will be in focus after Finance Minister Arun Jaitley on Saturday, 5 March 2016, said that an Experts Group would be constituted immediately to consider a proposal for consolidation of PSU banks in order to have strong banks. Speaking to the media at the end of a two-day conference of top management of PSU banks, finance sector regulators and finance ministry officials organized by the finance ministry, Jaitley also said that the Department of Financial Services (DFS) is considering amending the Debt Recovery Tribunal (DRT) Act and SARFESI Act to help banks expedite the process of recovery of bad loans. Jaitley was quoted as saying at the press conference that the government is also considering a proposal to allow PSU banks to institute employee stock option plan for bank employees.

Shares of Siemens may edge higher after the company announced that its board of directors has decided to consider the distribution of 50% of the proceeds from the sale of its healthcare undertaking as a special dividend to the companys shareholders. The board will take the decision on special dividend at its first board meeting after the completion of the transaction. The transaction is expected to be completed by 1 July 2016. Siemens has approved the sale and transfer of the healthcare undertaking as a going concern on a slump sale basis to the subsidiary of its parent firm Siemens AG, Germany for total consideration of Rs 3050 crore. The unit clocked revenue of Rs 1424.80 crore in the year ended 30 September 2015 (FY 2015), accounting for 13.55% of the companys revenue for the year. The unit had negative networth of Rs 88.50 crore as on 30 September 2015. The transaction is subject to the approval of the companys shareholders through an ordinary resolution.

Regarding the rationale for the sale of the healthcare unit to the parent firm, Siemens said that it would allow the parent firm increased flexibility, greater entrepreneurial freedom and faster decision making to grow its India healthcare segment independently. The healthcare unit is highly dependent on the parent company and its subsidiaries for products and technical know-how and that significant long-term investments are required for localization of products and solutions of the unit, Siemens said. Siemens further said that currently there are limited synergies between the healthcare business and its other business segments. The sale of the unit will allow Siemens to increase its focus and capital allocation to power generation, transmission and distribution, mobility, industrial automation and Smart Cities segments. The transaction will be margin accretive for Siemens. The company made the announcement on the sale of the healthcare unit after trading hours on Friday, 4 March 2016.

Shares of jewellery makers will be in focus after the finance ministry said in its clarifications issued on the levy of excise duty on articles of jewellery in the Union Budget 2016-17 that the central excise officers have been directed not to visit the premises of jewellery manufacturers. The facility of Optional Centralized Registration has also been provided for jewellery manufacturers for payment of excise duty. Thus, there is no need for a jewellery manufacturer to take separate registrations for all his premises. Jewelers private records or records for State VAT or records for Bureau of Indian Standards (in the case of hallmarked jewellery) will be accepted for all Central Excise purposes. Further, there is no requirement for the jewellery manufacturer to file a stock declaration to the jurisdictional central excise authorities. The finance ministry also said that a simplified export procedure is available for exempted units.

The government announced the imposition of excise duty at 1% without input tax credit (ITC) or 12.5% with input tax credit on articles of jewellery (excluding silver jewellery) in the Budget, with a higher exemption and eligibility limits of Rs 6 crore and Rs 12 crore respectively.

Ajanta Pharma said it has received final approval from the United States Food and Drug Administration (USFDA) for Almotriptan Malate Tablets (6.25 mg & 12.5 mg), a generic version of Axert, for treatment of acute migraine pain relief. The companys US subsidiary, Ajanta Pharma USA Inc. is scheduled to launch Almotriptan Tablets in US shortly, the company said. The announcement was made on Monday, 7 March 2016. The stock market was closed on that day due to Mahashivratri.

Alkem Laboratories said that its manufacturing plant at Mandva, Gujarat, has successfully obtained the Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA). The plant manufactures active pharmaceutical ingredients (APIs) and was inspected by USFDA in September 2015. The announcement was made on Monday, 7 March 2016. The stock market was closed on that day due to Mahashivratri.

Ashoka Buildcon said that the companys subsidiary Ashoka Concessions has informed the company that one of its associate companies viz. PNG Tollway (SPV) has given notice of termination of the concession agreement to NHAI in respect of the project viz. to undertake design, engineering, finance, procurement, construction, operation and maintenance of six laning of Pimpalgaon - Nashik - Gonde section of NH - 3 in Maharashtra on design, build, finance, operate and transfer (DBFOT) basis. The announcement was made after market hours on Friday, 4 March 2016.

Future Retail said that the High Court of Judicature at Bombay, on 4 March 2016 has sanctioned the composite scheme of arrangement between Future Retail and Bharti Retail and their respective shareholders and creditors with some minor modifications. The announcement was made after market hours on Friday, 4 March 2016.

ISGEC Heavy Engineering said that in order to execute a project in the Hashemite Kingdom of Jordan, the company is considering for opening a branch in the Hashemite Kingdom of Jordan and the branch is called as Operating Foreign Company in Jordan. The project involve erection and civil work of machinery and equipment for 30 megawatts coal based thermal power plant. The announcement was made after market hours on Friday, 4 March 2016.

Eveready Industries India said that the company is in the process of launching in various parts of the country, a range of electrical/non-electrical appliances being ceiling fans, choppers, coffee maker espresso, dry irons, food processors, immersion water heaters, induction cookers, juicer mixer grinders, juicers, kettles, mixer grinders, multi grills, oven toasters grillers, pop-up toasters, rice cookers, roti makers, sandwich makers, steam irons and water heaters in the product category of consumer goods. These products will cater to the domestic market, Eveready Industries India said. The announcement was made after market hours on Friday, 4 March 2016.

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Coal India may advance after declaring hefty interim dividend
Mar 08,2016

Coal India said that the board of directors of the company at its meeting held on 5 March 2016, has approved payment of interim dividend of Rs 27.40 per share for the year ending 31 March 2016. The announcement was made on Saturday, 5 March 2016. The stock offers a dividend yield of 8.42% based on its closing price of Rs 325.20 on the BSE on Friday, 4 March 2016.

Meanwhile, the Prime Minister Narendra Modi on Friday, 4 March 2016, reviewed the progress of key infrastructure sectors including power, coal, housing, ports, and Digital India, a statement released by the government on Saturday, 5 March 2016 said. Coal India has achieved a 9.2% increase in production this year, as compared to an average of just 3% growth over the last 5 years, the government said in a statement.

Asian Paints after trading hours on Friday, 4 March 2016, announced that it has filed First Information Report (FIR) with the Police department against its Registrar & Transfer Agent Sharepro Services (India) Pvt. Ltd. and its employees on certain irregularities by Sharepro with respect to share transfer operations and dividend encashment activities. Asian Paints has issued a termination notice to Sharepro for the termination of Registrar & Transfer Agent services with effect from 1 April 2016. The company is currently in the process of appointing a new Registrar & Transfer Agent.

L&T has completed the transaction for the sale of its casting manufacturing unit located at Coimbatore to Australias Bradken Limited for total consideration of Rs 163 crore. The business transfer agreement was signed in November 2014. This unit clocked revenue of Rs 122 crore in the year ended 31 March 2015 (FY 2015), which was less than 1% of the total revenue of the company for the year. The sale of the Coimbatore foundry is in line with the companys strategic plan to exit non-core businesses and rationalize its portfolio. The company continues to operate two other foundries in Odisha and Gujarat. L&T made the announcement after trading hours on Friday, 4 March 2016.

Stocks of public sector banks (PSU banks) will be in focus after Finance Minister Arun Jaitley on Saturday, 5 March 2016, said that an Experts Group would be constituted immediately to consider a proposal for consolidation of PSU banks in order to have strong banks. Speaking to the media at the end of a two-day conference of top management of PSU banks, finance sector regulators and finance ministry officials organized by the finance ministry, Jaitley also said that the Department of Financial Services (DFS) is considering amending the Debt Recovery Tribunal (DRT) Act and SARFESI Act to help banks expedite the process of recovery of bad loans. Jaitley was quoted as saying at the press conference that the government is also considering a proposal to allow PSU banks to institute employee stock option plan for bank employees.

Shares of Siemens may edge higher after the company announced that its board of directors has decided to consider the distribution of 50% of the proceeds from the sale of its healthcare undertaking as a special dividend to the companys shareholders. The board will take the decision on special dividend at its first board meeting after the completion of the transaction. The transaction is expected to be completed by 1 July 2016. Siemens has approved the sale and transfer of the healthcare undertaking as a going concern on a slump sale basis to the subsidiary of its parent firm Siemens AG, Germany for total consideration of Rs 3050 crore. The unit clocked revenue of Rs 1424.80 crore in the year ended 30 September 2015 (FY 2015), accounting for 13.55% of the companys revenue for the year. The unit had negative networth of Rs 88.50 crore as on 30 September 2015. The transaction is subject to the approval of the companys shareholders through an ordinary resolution.

Regarding the rationale for the sale of the healthcare unit to the parent firm, Siemens said that it would allow the parent firm increased flexibility, greater entrepreneurial freedom and faster decision making to grow its India healthcare segment independently. The healthcare unit is highly dependent on the parent company and its subsidiaries for products and technical know-how and that significant long-term investments are required for localization of products and solutions of the unit, Siemens said. Siemens further said that currently there are limited synergies between the healthcare business and its other business segments. The sale of the unit will allow Siemens to increase its focus and capital allocation to power generation, transmission and distribution, mobility, industrial automation and Smart Cities segments. The transaction will be margin accretive for Siemens. The company made the announcement on the sale of the healthcare unit after trading hours on Friday, 4 March 2016.

Shares of jewellery makers will be in focus after the finance ministry said in its clarifications issued on the levy of excise duty on articles of jewellery in the Union Budget 2016-17 that the central excise officers have been directed not to visit the premises of jewellery manufacturers. The facility of Optional Centralized Registration has also been provided for jewellery manufacturers for payment of excise duty. Thus, there is no need for a jewellery manufacturer to take separate registrations for all his premises. Jewelers private records or records for State VAT or records for Bureau of Indian Standards (in the case of hallmarked jewellery) will be accepted for all Central Excise purposes. Further, there is no requirement for the jewellery manufacturer to file a stock declaration to the jurisdictional central excise authorities. The finance ministry also said that a simplified export procedure is available for exempted units.

The government announced the imposition of excise duty at 1% without input tax credit (ITC) or 12.5% with input tax credit on articles of jewellery (excluding silver jewellery) in the Budget, with a higher exemption and eligibility limits of Rs 6 crore and Rs 12 crore respectively.

Ajanta Pharma said it has received final approval from the United States Food and Drug Administration (USFDA) for Almotriptan Malate Tablets (6.25 mg & 12.5 mg), a generic version of Axert, for treatment of acute migraine pain relief. The companys US subsidiary, Ajanta Pharma USA Inc. is scheduled to launch Almotriptan Tablets in US shortly, the company said. The announcement was made on Monday, 7 March 2016. The stock market was closed on that day due to Mahashivratri.

Alkem Laboratories said that its manufacturing plant at Mandva, Gujarat, has successfully obtained the Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA). The plant manufactures active pharmaceutical ingredients (APIs) and was inspected by USFDA in September 2015. The announcement was made on Monday, 7 March 2016. The stock market was closed on that day due to Mahashivratri.

Ashoka Buildcon said that the companys subsidiary Ashoka Concessions has informed the company that one of its associate companies viz. PNG Tollway (SPV) has given notice of termination of the concession agreement to NHAI in respect of the project viz. to undertake design, engineering, finance, procurement, construction, operation and maintenance of six laning of Pimpalgaon - Nashik - Gonde section of NH - 3 in Maharashtra on design, build, finance, operate and transfer (DBFOT) basis. The announcement was made after market hours on Friday, 4 March 2016.

Future Retail said that the High Court of Judicature at Bombay, on 4 March 2016 has sanctioned the composite scheme of arrangement between Future Retail and Bharti Retail and their respective shareholders and creditors with some minor modifications. The announcement was made after market hours on Friday, 4 March 2016.

ISGEC Heavy Engineering said that in order to execute a project in the Hashemite Kingdom of Jordan, the company is considering opening a branch in the Hashemite Kingdom of Jordan and the branch is called as Operating Foreign Company in Jordan. The project involves erection and civil work of machinery and equipment for 30 megawatts coal based thermal power plant. The announcement was made after market hours on Friday, 4 March 2016.

Eveready Industries India said that the company is in the process of launching in various parts of the country, a range of electrical/non-electrical appliances being ceiling fans, choppers, coffee maker espresso, dry irons, food processors, immersion water heaters, induction cookers, juicer mixer grinders, juicers, kettles, mixer grinders, multi grills, oven toasters grillers, pop-up toasters, rice cookers, roti makers, sandwich makers, steam irons and water heaters in the product category of consumer goods. These products will cater to the domestic market, Eveready Industries India said. The announcement was made after market hours on Friday, 4 March 2016.

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HDFC may gain on fund raising plans
Mar 04,2016

HDFC has filed another term sheet for issuing secured redeemable non-convertible debentures worth Rs 1000 crore on private placement basis. HDFC said that the coupon rate on debentures is nil. The instrument has a tenor of four years. With redemption premium of about Rs 39.89 lakh on the face value of Rs 1 crore for each debenture, the effective yield works out to 8.75% per annum. The issue opens and closes on the same day on 9 March 2016. The object of the issue is to augment long-term resources of the company, HDFC said. The announcement was made after market hours yesterday, 3 March 2016.

ONGC said that a meeting of the board of directors of the company will be held on 9 March 2016, to consider and declare second interim dividend, if any, for the year ending 31 March 2016 (FY 2016). The company has fixed 17 March 2016 as the record date for the purpose of payment of second interim dividend for FY 2016, if any. The announcement was made after market hours yesterday, 3 March 2016.

Asian Paints after market hours yesterday, 3 March 2016 announced that the operations at the companys paint plant situated at Rohtak, Haryana, have restarted. On 22 February 2016, the company had informed of the operations at the its plant were shut down due to agitation at lMT, Rohtak with effect from 19 February 2016.

Bank stocks will be in focus as two days n++Retreat for Banks and Financial Institutionsn++ called n++Gyan Sangamn++would at held today, 4 March 2016 and tomorrow, 5 March, 2016 at State Bank Academy, Gurgaon (Haryana). This is second Gyan Sangam. First one was held last year in January, 2015 at Pune. Participants in this Bankers Retreat include Ms Anjuli Chib Duggal,, Secretary, Department of Financial Services (DFS), Regulators, Officers of the Ministry of Finance, top Management of all public sector banks (PSBs), insurance companies and financial institutions (FIs). This retreat has been held to take forward the Governments commitment to reforms in the banking and financial sector. The growth and change in the financial sector ought to be in tune with the development in the real sector. The idea of organising such a retreat is to provide an informal academic environment, which can bring out the creative best of the minds of professionals and regulators.

Godrej Industries said that the High Court of Judicature at Bombay on 26 February 2016 has sanctioned the Scheme of Amalgamation of GIL Vikhroli Real Estate with Godrej Properties and their respective shareholders. The announcement was made after market hours yesterday, 3 March 2016.

Minda Industries announced an acquisition of the global lighting business of Spain-based Rinder Group that manufactures automotive lamps - headlamp, tail-lamps and small lamps. The enterprise value for the total deal is about 20 million euros. The acquisition includes 100% equity holding in Rinder India and Light Systems and Technical Center, Spain along with 50% equity holding in Rinder Riducu, Colombia. The deal will be financed through internal accruals and the debts. The announcement was made after market hours yesterday, 3 March 2016.

Sundram Fasteners said that Cramlington Precision Forge , United Kingdom, the companys wholly-owned overseas subsidiary has redeemed the companys preferential shareholding of 5 lakh shares at par (GBP 1 each) equivalent to Rs 4.74 crore on 1 March 2016. The announcement was made after market hours yesterday, 3 March 2016.

Fertilizers and Chemicals Travancore (FACT) will be in focus. Ministry of Chemicals and Fertilizers said yesterday, 3 March 2016 that an agreement to release Rs 1000 crore to the FACT, for its revival was signed yesterday, 3 March 2016. FACT due to various reasons, had fallen sick and its revival has been one of the priority item on the Governments agenda. As per this MoA, FACT will be getting a loan of Rs 1000 crore, to be repaid with interest within a period of five years, with a moratorium of one year. The company which has been facing severe financial crunch for the last more than a decade, has now got a breather in the form of this loan, which will ease its liquidity crisis. The new resources will be helpful in clearing long pending dues of the company, and facilitate much needed working capital, as well as for augmenting production. This will help FACT to maintain production at optimum level on a sustainable basis in the coming years. The company is initiating steps to enhance the production capacity of Factamfos by setting up a new stream of production of 1000 tonnes per day at FACTs Cochin division at Ambalamedu in Kochi.

Vijaya Bank announced after market hours yesterday, 3 March 2016 that the board of directors of the bank at its meeting held on 3 March 2016 has approved the proposal for preferential issue of equity shares to Life Insurance Corporation of India aggregating upto Rs 226 crore (inclusive of premium amount) subject to Government of Indias approval and to convene an extra ordinary general meeting of the shareholders to pass the necessary special resolution in this regard.

Pioneer Distilleries announced after market hours yesterday, 3 March 2016 that the manufacturing activities of the 100 kilo liters per day (KLPD) molasses based extra neutral alcohol (MENA) plant at the factory of the company located at Balapur (V), Dharmabad (Taluk), Nanded District, Maharashtra, have been stopped with effect from 1 February 2016 on account of shortage in water availability due to less rains during monsoon season in the region. The company had explored various options of procuring water from various other sources for operating the MENA plant which have not been fruitful. The revenue of Rs 69.25 crore constituting 46 % of turnover of the company was contributed by the aforesaid MENA plant during the financial year 2014-15.

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HDFC may gain after announcing fund raising plans
Mar 03,2016

HDFC after market hours yesterday, 2 March 2016, announced that the company has filed term sheet for issuing secured redeemable non-convertible debentures worth Rs 2000 crore on private placement basis. The coupon rate on debentures is 8.75% per annum. The tenor of the debentures is five years. The issue opens and closes on the same day on 4 March 2016. The object of the issue is to augment long term resources of the company, HDFC said.

TCS announced that as a new member of the GE Digital Alliance Program created by GE Digital, it will develop innovative digital solutions that increase the productivity of mobile workforces and assets in motion by leveraging Predix, GEs cloud platform for the industrial internet. TCS and GE will work together to create an innovative industry solutions ecosystem by leveraging TCS comprehensive business and digital expertise to enrich GEs Predix platform, TCS said. The announcement was made after market hours yesterday, 2 March 2016.

Adani Ports and Special Economic Zone (APSEZ) will be in focus. With reference to the media reports titled Govt approves Adani Ports proposal to club 3 SEZs in Gujarat, Adani Ports and Special Economic Zone after market hours yesterday, 2 March 2016, clarified that the company has not received any formal communication from the central government about the consolidation of the special economic zones (SEZ). APSEZ said that the clubbing of the three SEZs at Mudra will result in higher operating flexibility for the SEZs and is not a material event. News reports suggested that APSEZ had submitted a proposal to the government for clubbing of three SEZs at Mudra.

Coal India said that Northern Coalfields, a subsidiary of Coal India in its 202nd board meeting held on 1 March 2016 has revised the standard stripping ratio for OBR accounting for 10 opencast projects. The financial impact due to the change in stripping ratio till December 2015 would be around Rs 59.76 crore. The announcement was made after market hours yesterday, 2 March 2016.

Shares of BPCL turn ex-dividend today, 3 March 2016 for second interim dividend of Rs 3.50 per share for the year ending 31 March 2016.

HPCL announced that a meeting of the board of directors of the company will be held on 11 March 2016, to consider declaration of second interim dividend, if any, for the year ending 31 March 2016. The company has fixed 19 March 2016 as the record date for the purpose of payment of second interim dividend. The announcement was made after market hours yesterday, 2 March 2016.

NHPC announced after market hours yesterday, 2 March 2016, that unit 1 of 160 megawatts Teesta Low Dam HE Project, Stage-IV declared commercial operation from 3 March 2016. .

National Buildings Construction Corporation said that a meeting of the board of directors of the company will be held on 11 March 2016, to consider the proposal for the split of equity shares of the company. The announcement was made after market hours yesterday, 2 March 2016.

Vijaya Bank announced before market hours today, 3 March 2016, that a meeting of the board of directors of the bank will be held today, 3 March 2016, to consider, the proposal for issue of equity shares to Life Insurance Corporation of India (LICI) through preferential issue upto Rs 226 crore.

Muthoot Finance announced before market hours today, 3 March 2016, that the company has acquired 3.95 crore equity shares of Muthoot Homefin (India) Limited (MHIL) by subscribing to preferential issue of shares having nominal value of Rs10 per share at an issue price of Rs 11.37 per share, investing Rs 44.91 crore. Post-acquisition, Muthoot Finance holds 79% of the equity share capital of MHIL making MHIL its subsidiary. The issued and paid up capital of MHIL stands at Rs 50 crore after the above allotment. MHIL is a housing finance company licensed by National Housing Bank.

Indiabulls Housing Finance announced before market hours today, 3 March 2016, that the company proposes to issue 4,000 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating to Rs 400 crore, on private placement basis, pursuant to special resolution passed by the shareholders of the company at the 10th Annual General Meeting held on 7 September 2015, on the terms and conditions.

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Hero MotoCorp may gain after reporting good sales in February
Mar 02,2016

Hero MotoCorp (HMCL) announced that its total two-wheeler sales rose 13.6% to 5.50 lakh units in February 2016 over February 2015. These numbers have been possible in spite of the production at the companys manufacturing facilities at Gurgaon and Dharuhera in Haryana and at Neemrana in Rajasthan being impacted for a few days due to the local agitations in the region during the month, HMCL said. The announcement was made after market hours yesterday, 1 March 2016.

Wipro announced that it has completed the acquisition of HealthPlan Services, earlier-than-expected, on 29 February 2016. The companys acquisition of Viteos Group, announced on 23 December 2015, is pending regulatory approvals and is yet to be completed, Wipro said. Impact of these developments is expected to be reflected in the financials of company for the current quarter, Wipro said in a statement. The announcement was made after market hours yesterday, 1 March 2016.

Cipla announced that its consumer healthcare business has been transferred to Cipla Health, a subsidiary of the company with effect from the close of business hours on 29 February 2016. The announcement was made after market hours yesterday, 1 March 2016.

Tata Power Company (Tata Power) announced that its wholly-owned subsidiary Bhira Investments has successfully refinanced $460 million of debt, which was due on 29 February 2016. The new facility carries a coupon rate linked to LIBOR and has a tenure of 5 years, Tata Power said. The announcement was made after market hours yesterday, 1 March 2016.

Bharat Heavy Electricals (Bhel) after market hours yesterday, 1 March 2016, said that the company has bagged a large contract worth Rs 5600 crore for a setting up 1,600 megawatts (MW) supercritical power project in Tamil Nadu. The project is slated to be commissioned by September 2019 and the power generated from this 1,600 MW power project will help foster growth in Tamil Nadu and provide easy access to electricity to the people of the state, Bhel said.

Tata Motors total sales of Tata Motors passenger and commercial vehicles (including exports) rose 6% to 46,674 vehicles in February 2016 over February 2015. The domestic sale of Tata commercial and passenger vehicles for February 2016 rose 3% to 41,532 units in February 2016 over February 2015. The announcement was made after market hours yesterday, 1 March 2016.

In commercial vehicles, medium & heavy commercial vehicles (M&HCV) sales rose 22% to 14,872 units and light & small commercial vehicle (LCV) sales rose 10% to 15,698 units in February 2016 over February 2015. The overall commercial vehicles sales for Tata Motors in the domestic market rose 15% to 30,570 units in February 2016 over February 2015. This increase, has been enabled by the growth in LCVs, supplementing the already prevailing M&HCV growth, Tata Motors said. This is the third consecutive month of growth in LCVs after many months, and if sustained, could see return of growth in this segment, albeit on a low base, the company said.

Tata Motors passenger vehicles sales fell 20% to 10,962 units in February 2016 over February 2015. The wholesales of passenger cars fell 21% to 9,284 units and the UV sales declined by 14% to 1,678 units in February 2016 over February 2015. The companys sales from exports rose 31% to 5,142 units in February 2016 over February 2015.

Bank stocks will be in focus after the Reserve Bank of India (RBI) announced amendments to the treatment of certain balance sheet items for the purpose of determining banks regulatory capital. Revaluation reserves arising from change in the carrying amount of a banks property consequent upon its revaluation would be considered as common equity tier 1 capital (CET1) instead of Tier 2 capital as hitherto. This would continue to be reckoned at a discount of 55%. The RBI also said that commercial banks may, at their discretion, reckon foreign currency translation reserve arising due to translation of financial statements of their foreign operations as CET1 capital at a discount of 25%. In another amendment, the RBI said that instead of full deduction from CET1 capital, the banks deferred tax assets (DTAs), which relate to timing differences may be recognised in the CET1 capital up to 10% of a banks CET1 capital. These amendments to the capital treatment of banks balance sheet items have been made with a view to further align the definition of regulatory capital with the internationally adopted Basel III capital standards. The amendments are with immediate effect, the RBI said in a notification issued after trading hours yesterday, 1 March 2016.

Coal India and its subsidiaries on provisional basis achieved 98% of targeted production at 51.01 million tonnes in February 2016. Coal India and its subsidiaries on provisional basis achieved 97% of targeted offtake at 45.53 million tonnes in February 2016. The announcement was made after market hours yesterday, 1 March 2016.

Tata Chemicals will be in focus. The Reserve Bank of India yesterday, 1 March 2016 notified that the further purchases of equity shares of Tata Chemicals by foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) would be allowed only after obtaining prior approval of the Reserve Bank of India as foreign shareholding by FIIs/RFPIs in the company has reached the trigger limit.

VE Commercial Vehicles, an unlisted subsidiary of Eicher Motors reported 57.25% jump in total sales to 5,032 units in February 2016 over February 2015. The announcement was made after market hours yesterday, 1 March 2016.

TVS Motor Company recorded 7% growth in sales to 2.19 lakh units in February 2016 over February 2015. The companys total exports fell 10.12% to 34,804 units in February 2016 over February 2015. Total two wheeler sales increased by 8% to 2.11 lakh units in February 2016 over February 2015. The three wheeler sales of the company fell 8.13% to 8,319 units in February 2016 over February 2015. The announcement was made after market hours yesterday, 1 March 2016.

SML Isuzu said that the companys sales rose 2.95% to 1,010 vehicles in February 2016 over February 2015. The announcement was made after market hours yesterday, 1 March 2016.

SKS Microfinance said it has yesterday, 1 March 2016 completed the fifth securitization transaction for a pool value of Rs 216.21 crore during the financial year ending 31 March 2016 (FY 2016). With this transaction, the total sum of securitization completed during FY 2016 (year-to-date) is Rs 1567.21 crore. The entire pool qualifies for priority sector treatment as per the Reserve Bank of Indias Priority Sector Lending guidelines. The pool has been rated AA (SO) by a leading rating agency, signifying a high degree of safety regarding timely servicing of financial obligations. Such instruments carry a very low credit risk, the company said. The announcement was made after market hours yesterday, 1 March 2016.

Dewan Housing Finance Corporation announced before market hours today, 2 March 2016, that the company proposes to issue 500 secured non-convertible redeemable debentures with a face value of Rs 10 lakh each aggregating to Rs 50 crore on private placement basis, pursuant to special resolution passed by the shareholders of the company at the 31st Annual General Meeting held on 23 July 2015. The issue will be opened on 4 March 2016 and will close on 8 March 2016. The deemed date of allotment of debentures is 8 March 2016. The tenure of debentures is 5 years and has coupon rate of 9.2% per annum.

Siemens announced after market hours yesterday, 1 March 2016 that a meeting of the board of directors of the company will be held on 4 March 2016 to consider a sale of the companys healthcare undertaking to a subsidiary of its parent company, Siemens AG, Germany.

Plastiblends India announced after market hours yesterday, 1 March 2016 that in view of market potential and demand, the company has plans to further increase the manufacturing capacity and has acquired land near Kolkatta, West Bengal to setup new manufacturing unit. The expansion will be funded mainly through internal accruals. The new manufacturing facility will be commissioned in phased manner subject to receipt of requisite approvals from statutory authorities.

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Vedanta may gain after winning Baghmara gold block in Chhattisgarh
Mar 01,2016

Vedanta said that the Baghmara gold block in Chhattisgarh was put on auction as composite licence (Prospecting License cum Mining Lease). Vedanta participated in the forward auction on 26 February 2016 after being technically qualified in an e-auction has been declared as the successful bidder for gold mines at royalty at 12.55% of value of mineral despatched. The winning bidder has to submit a performance bank guarantee of Rs 1.60 crore and invest in exploration. The block requires extensive exploration and the process will commence in due course. The announcement was made after market hours yesterday, 29 February 2016.

Axis Bank and Max Financial Services separately announced after market hours yesterday, 29 February 2016, that Axis Bank has purchased 9.57 crore shares of face value of Rs 10 each, or 4.99% equity stake, in Max Life Insurance Company (MLIC) from Max Financial Services (MFSL), formerly known as Max India, and Mitsui Sumitomo Insurance Company (MSI) for a total cash consideration of Rs 95.75 crore. The announcement was made by the bank after market hours yesterday, 29 February 2016.

Of this, Axis Bank has acquired 7.65 crore shares or 3.99% equity stake in MLIC, from MFSL for an aggregate cash consideration at par of Rs 76.56 crore and 1.91 crore shares or 1% equity stake in MLIC, from MSI for an aggregate cash consideration of Rs 19.19 crore, post receipt of requisite regulatory approvals. Consequent to this transaction. Axis Banks equity stake in MLIC has increased to 5.99%. MLIC, a joint-venture between MFSL and MSI, was incorporated on 11 July 2000 and is primarily engaged in the business of life insurance in India.

With respect to media reports titled Lupin Plans to Step Up Japanese Play, Lupin after market hours yesterday, 29 February 2016, clarified that Kyowa Pharmaceutical Industry Co., Japan, (Kyowa), which is a wholly-owned subsidiary of Lupin, has a plant at Sanda, Japan. In order to meet the rapidly growing demand of generics, the Kyowa board has proposed the setting-up of a 2 billion tablets capacity plant at Tottori, Japan which would be designed to efficiently handle mass volume products and provide flexibility in allowing easy future expansion.

BEML has received order valued at Rs 900 crore for supply of metro coaches to Kolkata east-west metro line. The announcement was made after market hours yesterday, 29 February 2016.

Jaiprakash Associates said that unit-1 of 660 megawatts (MW) of Bara Super Critical Thermal Power Project, being implemented by Prayagraj Power Generation Company (a subsidiary of Jaiprakash Power Ventures which is also a subsidiary of the company) has successfully commenced commercial operations on 28 February 2016. The announcement was made after market hours yesterday, 29 February 2016.

Auto companies will be in focus as these companies will start unveiling sales figures for February from today, 1 March 2016.

PSU OMCs will be in focus as these companies cut petrol price by Rs 3.02 per litre and hiked diesel price by Rs 1.47 a litre in Delhi with corresponding price revision in other states based on state levies. The revised prices took effect from today, 1 March 2016.

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