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Grasim Industries in focus after ABNL merger approval
Apr 12,2017

Grasim Industries will be watched. The shareholders of Grasim, Aditya Birla Nuvo (ABNL) and Aditya Birla Financial Services (ABFSL) at their meetings held on 6 and 10 April 2017, respectively have approved the scheme of amalgamation of ABNL with Grasim followed by the demerger and listing of the financial services business, in line with the NCLT order and the Sebi requirements. The announcement was made after market hours yesterday, 11 April 2017.

Tech major Wipro said it has completed the acquisition of Brazilian IT service provider InfoSERVER. The impact of the buyout will reflect in the financials of the company from the Q1 June 2017, it added. In January this year, Wipro signed an agreement to acquire InfoSERVER, an IT service provider focused on the Brazilian market for $8.7 million. The announcement was made after market hours yesterday, 11 April 2017.

Tata Power Company will be in focus. The company announced after market hours yesterday, 11 April 2017, that the Supreme Court on Tuesday, 11 April 2017, conveyed its judgment on the Compensatory Tariff mailer on the Mundra Ultra Mega Power Projects (UMPP). The order verbally conveyed set aside the previous favourable order of Appellate Tribunal for Electricity (APTEL) which had allowed compensatory tariff on account of Forced Majeure conditions at Indonesia. It did not mention about the use of Regulatory Powers of the Central Electricity Regulatory Commission (CERC) in adjudicating compensatory tariff as per previous order. The final order has got uploaded in the evening and the company is studying the same. The company will continue to pursue all alternatives options at Coastal Gujarat Power (CGPL), including sourcing of competitive coal from other relevant geographies as also use low grade and blended coal options to contain the onslaught of under recovery at Mundra UMPP.

Reliance Industries (RIL) will be watched. RILs subsidiary, Reliance Jio Infocomm (Jio) announced that the Jio Summer Surprise has been fully withdrawn, following the advice of Telecom Regulatory authority of India (TRAI). Jio further announced new all unlimited plans with special benefits, exclusively for its Jio Prime members and aimed at encouraging Jio subscribers to live the Digital Life without restrictions - Jio Dhan Dhana Dhan! The plans start with the most affordable Rs. 309 all unlimited plan, which provides unlimited SMS, calling and data (1GB per day at 4G speed) for 3 months on first recharge. The company also announced the Rs 509 all unlimited plan for daily high data users offering unlimited SMS, calling and data (2GB per day at 4G speed) for 3 months on first recharge. The announcement was made after market hours yesterday, 11 April 2017.

Vedanta and Cairn India announced after market hours yesterday, 11 April 2017, that the merger of Cairn India with Vedanta pursuant to the scheme of arrangement has become effective. Thursday, 27 April 2017 has been fixed as the record date for determining the list of the shareholders of Cairn India to whom the equity and preference shares of Vedanta will be allotted as per terms of the scheme. Shareholders of Cairn India will receive, for each equity share held, one equity share in Vedanta of face value Rs 1 each and four 7.5% redeemable preference share (RPS) in Vedanta with a face value of Rs 10 each.

Cairn India shareholders as on said record date, who will become shareholders of Vedanta, would also receive an interim dividend of Rs 17.70 per equity share as approved by the board of Vedanta on 30 March 2017. No shares will be issued to Vedanta or any of its subsidiaries for their shareholding in Cairn India. Vedanta will arrange for a third-party facility enabling a cash exit for RPS holders at par within 30 days from issuance.

This merger consolidates Vedantas position as one of the worlds largest diversified natural resources companies, with world-class, low-cost assets in metals & mining and oil & gas. The merged company will have a larger pro forma market capitalisation of $15.60 billion, and higher free float of 49.9%.

NBCC (India) announced that its subsidiary, Hindustan Steelworks Construction (HSCL), as on 1 April 2017, had an order book of Rs 8000 crore (approximately). For the financial year 2015-2016, the companys total revenue and net profit was Rs 1416 crore (approximately) and Rs 30.19 crore respectively. Presently, HSCL is a debt free company. The announcement was made after market hours yesterday, 11 April 2017.

Jammu & Kashmir Bank said that its board will meet on Saturday, 15 April 2017 to consider preferential issue of equity shares for an amount of Rs 282 crore to the Government of Jammu & Kashmir, the promoter and majority shareholder of the bank. The board will also consider rising funds through allotment of unsecured, redeemable, subordinated, non convertible, Basel III Compliant Tier 2 Bonds in the nature of debentures/bonds aggregating to Rs 1000 crore. The announcement was made after market hours yesterday, 11 April 2017.

Pincon Spirit announced that its board at a meeting held on 11 April 2017, approved a proposal to raise funds through issue of up to 57.06 lakh equity share warrants on preferential basis to Monoranjan Roy, Aptex Enterprises, K.D. Liquor & Fertilizer, Majestic Bottlers, Priya Purnima Credits, Westwell Iron & Steel, Maa Tarini Natural Resources, Sudarshan Commtrade, Ecospace Infotech and Pincers Commodities. The announcement was made after market hours yesterday, 11 April 2017.

Fag Bearings India turns ex-dividend today, 12 April 2017, for dividend of Rs 12 per share for the year ended 31 December 2016.

KSB Pumps turns ex-dividend today, 12 April 2017, for dividend of Rs 5.50 per share for the year ended 31 December 2016.

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Suzlon in spotlight after winning repeat order
Apr 11,2017

Suzlon Energy said it has won a repeat order of 50.40 megawatts (MW) wind power project in Karnataka from a leading IPP company. The announcement was made after market hours yesterday, 10 April 2017. The project will be completed by June 2017. Suzlon will execute the entire project on a turnkey basis and will also provide operation and maintenance services.

Majesco announced that a tier two specialty insurer renewed its application management services agreement with Majesco for three years to support a number of key operational systems. The insurer is focused on specialty related insurance in the US. The agreement will provide the insurer end to end support of some of their key operational systems for three years. The application management services are part of Majescos ADM services. The insurer has been a long-term strategic client of Majesco. The announcement was made after market hours yesterday, 10 April 2017.

Indiabulls Ventures said it has allotted an aggregate of 3.36 crore fully paid up equity shares to promoter group entities of the company, upon exercise/conversion of equivalent number of warrants. The announcement was made after market hours yesterday, 10 April 2017.

Hindustan Composites said its board at a meeting held on 10 April 2017, considered a proposal for 2-for-1 stock split. The board decided to seek shareholders approval through postal ballot process for the stock split proposal. The announcement was made after market hours yesterday, 10 April 2017.

Capital First said the meeting of the debenture committee of the board of directors of the company will be held on Thursday, 13 April 2017, inter-alia, to consider the private placement of rated, listed, secured/unsecured/perpetual, redeemable, non-convertible securities in the nature of debentures to be listed on the debt market segment of National Stock Exchange of India. The announcement was made after market hours yesterday, 10 April 2017.

Redington (India) announced that its overseas step down subsidiary, Arena Bilgisayar Sanayi Ve Ticaret A.S sold its entire holding of 51% in its subsidiary, Adeo Bilisim Danismanlik Hizmetleri San ve Tic AS, Turkey, for $1.65 million. The announcement was made after market hours yesterday, 10 April 2017.

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Maruti Suzuki in focus after good production in March
Apr 10,2017

Maruti Suzuki India said its total production rose 10.29% to 1.53 lakh units in March 2017 over March 2016. The announcement was made after market hours on Friday, 7 April 2017.

L&Ts board at a meeting held on Friday, 7 April 2017, approved appointment of A. M. Naik as the Non-Executive Chairman of the company with effect from 1 October 2017 for a period of three years, immediately upon his retirement as the Executive Chairman on 30 September 2017. The board also approved appointment of S. N. Subrahmanyan as the Chief Executive Officer & Managing Director with effect from 1 July 2017. The announcement was made after market hours on Friday, 7 April 2017.

Central Bank of India said that a meeting of the capital raising committee of the board of directors of the bank will be held on 12 April 2017 to consider and approve raising of equity capital by conversion of entire innovative perpetual debt instruments (IPDI) capital of Rs 583 crore (5,830 IPDI of Rs 10 lakh each) held by Government of India, by allotment of equity shares of the face value of Rs 10 each at such conversion price including premium per equity share as may be determined as per SEBI (ICDR) Regulations, to Government of India on preferential basis. The announcement was made after market hours on Friday, 7 April 2017.

IndusInd Bank said it has recently inaugurated its first branch in Gaya, Bihar. With the inauguration of this branch, the bank now has 18 branches in Bihar. The announcement was made after market hours on Friday, 7 April 2017.

Apollo Tyres announced about the inauguration and commencement of commercial production at its manufacturing facility in Hungary with effect from 7 April 2017. Onkar S Kanwar, Chairman, Apollo Tyres said, this facility will help the company further increase its presence and market share in Europe. The announcement was made after market hours on Friday, 7 April 2017.

Indiabulls Housing Finance said it allotted its sixteenth tranche of secured, redeemable, non-convertible debentures (NCDs) of face value Rs 10 lakh each aggregating to Rs 43 crore. The announcement was made after market hours on Friday, 7 April 2017.

Brigade Enterprises announced the launch of Brigade Buena Vista, a luxury apartment project off Old Madras Road near Budigere Cross, Bengaluru. Brigade Buena Vista consists of 4 elegant residential towers spread across 7 acres, large parts of which are reserved for green, open spaces. The project is strategically located with excellent 3-way connectivity to Whitefield, Central and North Bengaluru and offers a strategic mix of accessibility and convenient living. The announcement was made after market hours on Friday, 7 April 2017.

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RIL in focus as Reliance Jio to withdraw Summer Surprise offer
Apr 07,2017

Reliance Industries (RIL) will be watched. The company said that the Telecom Regulatory Authority of India (TRAI) has advised Reliance Jio Infocomm (Jio) to withdraw the 3 months complementary benefits of Jio Summer Surprise. Jio accepted this decision. It is in the process of fully complying with the regulators advice, and will be withdrawing the 3 months complimentary benefits of Jio Summer Surprise as soon as operationally feasible, over the next few days.

However, all customers who have subscribed to Jio Summer Surprise offer prior to its discontinuation will remain eligible for the offer, RIL said. The announcement was made after market hours yesterday, 6 April 2017.

GE Power India said it was awarded a contract worth approximately Rs 237.60 crore (approximately $35.40 million) by GE Power AG to supply 1x150 megawatts (MW) CFB Boiler and Electrostatic Precipitator Components. The companys scope of work consists of majorly supply of CFB boiler components including steel structure, pressure parts, all auxiliaries, duct work, refractory, electrical & instrumentation etc. and electrostatic precipitator components including steel structure, ducting etc. The announcement was made after market hours yesterday, 6 April 2017.

Karur Vyasya Bank announced lending rates based on marginal cost of funds to be effective from 7 April 2017. The banks Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 9.10%, for one month will be 9.10% and for three months will be 9.10%. The MCLR on 6-month loans will be 9.30% and for one-year loans the rate would be 9.50%, the bank said. The announcement was made after market hours yesterday, 6 April 2017.

Gammon Infrastructure Projects, through amendment agreement, 2.43 crore equity shares, or 24% stake, in ICTPL from Noatum Ports, S. L., Spain for an aggregate consideration of Rs 15 crore. Upon acquisition, ICTPL has become subsidiary of Gammon Infrastructure Projects with increased shareholding from 50% to 74% in the paid up equity share capital of ICTPL. The announcement was made after market hours yesterday, 6 April 2017.

Dynamatic Technologies said that on 6 April 2017 a cooperation agreement was signed between Magal Security Systems (Magal-S3), an Israeli company and Dynamatic Technologies (DTL). With this arrangement Magal-S3 will cooperate with DTL to pursue integrated security projects in India. The announcement was made after market hours yesterday, 6 April 2017.

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Interest rate sensitives in spotlight on RBI policy
Apr 06,2017

Interest rate sensitive auto, banking and realty stocks will be watched ahead of the Reserve Bank of Indias (RBI) monetary policy meeting today, 6 April 2017. The RBI had left its key repo rate unchanged at 6.25% for the second time at its February 2017 meeting. Purchases of automobiles, including that of cars, utility vehicles and commercial vehicles are substantially driven by financing. Purchases of both residential and commercial property are largely driven by finance.

IndusInd Bank said it proposes to raise funds by issue and allotment of rated, listed, non-convertible, perpetual, subordinated and unsecured basel III compliant bonds in the nature of debentures towards non-equity regulatory additional tier I capital (AT1 Bonds), for face value of Rs 10 lakh each for cash aggregating to Rs 1000 crore on private placement basis. The announcement was made after market hours yesterday, 5 April 2017.

Mahindra & Mahindra (M&M) announced that its Farm Equipment Sector (FES) launched Mahindra JIVO. A new age, superior technology small tractor platform in the sub 25 horsepower (HP) category, the Mahindra JIVO is suitable for row crop and horticulture farming. The tractor is available in the 4 wheel drive (WD) version with engine power of 24HP and power take-off (PTO) of 22HP. It will be sold in the states of Maharashtra and Gujarat from 25 April 2017 at a starting price of Rs 3.90 lakh for the 4WD model, ex-showroom Maharashtra. The announcement was made after market hours yesterday, 5 April 2017.

Repco Home Finance said its board will meet on 11 April 2017, to consider a proposal to raise Rs 272 crore by issuing secured, redeemable, non-convertible, non-cumulative, taxable debentures to International Finance Corporation on private placement basis. The announcement was made after market hours yesterday, 5 April 2017.

Bank of India said it will hold an extraordinary general meeting (EGM) of shareholders on 4 May 2017 for their approval for issuing share capital by way of preferential issue to Government of India. The announcement was made after market hours yesterday, 5 April 2017.

Reliance Defence and Engineering scheduled a board meeting on Tuesday, 11 April 2017, to consider rights issue of equity shares upto Rs 1200 crore, which was approved at the board meeting held on 22 April 2016. The announcement was made after market hours yesterday, 5 April 2017.

Canada Pension Plan Investment Board (CPPIB) has on 5 April 2017, executed a Share Subscription and Purchase Agreement (SSPA) and Shareholders Agreement (SHA) with ISMDPL and the Phoenix Mills. Pursuant to the execution of the agreements, CPPIB proposes to invest in the equity share capital of ISMDPL in multiple tranches. CPPIB shall, in the first tranche, subject to fulfilment of the conditions precedent in the agreements, acquire 30% equity shareholding in ISMDPL through a combination of fresh equity subscription in ISMDPL and secondary transfer of equity shares held by the company in ISMDPL. Post the completion of first tranche investment by CPPIB, the company and CPPIB shall hold 70% and 30% respectively, of the paid up equity share capital of ISMDPL. The announcement was made after market hours yesterday, 5 April 2017.

Great Eastern Shipping Company announced that GGOS Labuan, a step-down subsidiary of the company, has been struck off from the registry under the provisions of the Labuan Companies Act, 1990 with effect from 4 March 2017. The announcement was made after market hours yesterday, 5 April 2017.

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Shankara Building Products in focus on debut
Apr 05,2017

Shares of Shankara Building Products will debut on the bourses today, 5 April 2017. The initial public offer (IPO) of Shankara Building Products received bids for 22.17 crore shares compared to 52.94 lakh shares on offer. The IPO was subscribed 41.88 times. The IPO opened on 22 March 2017 and closed on 24 March 2017. The issue price was fixed at top end of the price band of Rs 440 to Rs 460 per share.

The qualified institutional buyers (QIBs) category was subscribed 51.62 times. The non institutional investors category, made up of high net-worth individuals, was subscribed 90.68 times. The retail individual investors (RIIs) category was subscribed 15.35 times.

Shankara Building Products is one of the leading organized retailers of home improvement and building products in India, operating under the trade name, Shankara BuildPro, since the past two decades.

Dr Reddys Laboratories will be watched. With reference to a news item captioned, US FDA started Srikakulam inspection on March 27, 2017. No major observation from US FDA yet on Srikakulam plant, the company clarified that the reports being flashed by some media are speculative and unverified.

The company has not issued any statement as the audit is still in progress. The company said it regularly informs all concerned on material events and presently does not have any other information which is material to the companys operations or consolidated results. The clarification was issued after market hours on Monday, 3 April 2017.

NTPC said that Unit 2 of 250 megawatts (MW) of Bhartiya Rail Bijlee Company (BRBCL-a subsidiary of NTPC) has been commissioned on 3 April 2017. Further, NTPC has also commissioned its first wind turbine of 2 MW at Rojmal Wind Power Project (50 MW). With this, the commissioned capacity of NTPC and NTPC group has become 43534 MW and 50750 MW respectively. The announcement was made on Tuesday, 4 April 2017, when the stock markets were shut on account of local holiday.

The Committee of Directors of IL&FS Transportation Networks had approved on 31 March 2017, the allotment of 7,500 Rated, Listed, Redeemable, Non-Convertible Debentures of the face value of Rs 10,00,000 aggregating to Rs 750 crore on a private placement basis. The announcement was made on Tuesday, 4 April 2017, when the stock markets were shut on account of local holiday.

TVS Motor Company said its total sales rose 10% to 2.56 lakh units in March 2017 over March 2016. Total two-wheeler sales increased by 10.7% to 2.50 units in March 2017 over March 2016. Total three-wheeler sales fell 8.72% to 5,362 units in March 2017 over March 2016. Total exports grew 23.6% to 38,462 units in March 2017 over March 2016. The announcement was made after market hours yesterday, 3 April 2017.

Further, the company informed that it had commenced manufacture and sale of BS IV compliant inventory much before the transition date of 31 March 2017. Consequently, the stocks of BS III compliant products with the dealers were progressively coming down. However, on 29 March 2017 by its order, the Supreme Court of India permitted sale of such BS III emission compliant products only up to 31 March 2017. Accordingly, the company within the framework provided by the court order extended suitable required support to the dealers to enable them to offer attractive incentive schemes to customers to sell the BS III compliant stocks. The dealers have confirmed that majority of such stocks have been sold by 31 March 2017. The company is assessing the one-time impact of this transition on the financials of the company.

NMDC kept its iron ore prices unchanged in April 2017 compared with March 2016. NMDC said its lump ore prices were constant at Rs 2425 per wet metric tonne (WMT) in April 2017. Price of fines were constant at Rs 2185 per WMT in April 2017. The announcement was made after market hours yesterday, 3 April 2017.

MEP Infrastructure Developers said it entered into memorandum of understanding (MoU) with CIDB Holdings SDN BHD, a fully-owned subsidiary of the Construction Industry Development Board (CIDB Malaysia), to strengthen, promote and develop their cooperation by knowledge sharing and introducing best practices towards joint development of sustainable highway and expressways projects in India and related investments. The activities mentioned above may be carried out in India or any other country as may be mutually agreed upon. The announcement was made after market hours yesterday, 3 April 2017.

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Auto stocks in focus after declaring monthly sales volume data
Apr 03,2017

Maruti Suzuki Indias total sales rose 8.1% to 1.39 lakh units in March 2017 over March 2016. The companys total domestic sales rose 7.7% to 1.27 lakh units in March 2017 over March 2016. Exports grew by 12.6% to 11,764 units in March 2017 over March 2016. The announcement was made on Saturday, 1 April 2017.

Mahindra & Mahindras (M&M) total auto sales rose 6% to 56,031 units in March 2017 over March 2016. M&Ms total tractor sales rose 32% to 19,337 units in March 2017 over March 2016. The announcement was made on Sunday, 1 April 2017.

Tata Motors passenger and commercial vehicle total sales rose 8% to 57,145 vehicles in March 2017 over March 2016. The announcement was made on Saturday, 1 April 2017.

SML Isuzus sales rose 26.4% to 2,094 units in March 2017 over March 2016. The announcement was made on Sunday, 1 April 2017.

Shares of public sector oil marketing companies (PSU OMCs) will be in focus after Indian Oil Corporation (IOCL) on Friday, 31 March 2017, announced reduction in selling price of petrol and diesel with effect from midnight of 31 March 2017. Petrol price was decreased by Rs 3.77 per litre and diesel price was reduced by Rs 2.91 a litre at Delhi (excluding state levies).

Indiabulls Housing Finance said that it has on Friday, 31 March 2017, allotted its fourteenth tranche of secured, redeemable, non-convertible debentures (NCDs) aggregating to Rs 37.5 crore. This was part of the companys proposal announced in November 2016, to issue, secured, redeemable, NCDs aggregating Rs 6000 crore, on a private placement basis. The announcement was made after market hours on Friday, 31 March 2017.

Everest Kanto Cylinder has entered into the Asset Purchase Agreement with SNF Flopam India to sell companies land, building and electric installations in Gandhidham, Gujarat for consideration of $29 million. The expected date of completion of sale would be 30 April 2017. The announcement was made after market hours on Friday, 31 March 2017.

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Berger Paints in focus after commencing production at Assam plant
Mar 31,2017

Berger Paints India said it has commenced commercial production of its integrated paint and putty plant at Naltali, Nagaon, Assam on 30 March 2017. The plant has an annual capacity of 48,000 KL/MT per annum of water based paints, 24,000 KL of solvent based paints, 14,000 MT of Resin and 24,000 MT of wall putty. Thus, Berger Paints India has now commenced production at two of its plants in Assam - one for the Berger Division at Naltali and the other for the British Paints Division at Nalbari. The announcement was made after market hours yesterday, 30 March 2017.

NTPC said that consequent upon testing and commissioning, 260 megawatts (MW) capacity (4x65 MW) of Bhadla solar PV project at Bhadla Rajasthan, is declared on commercial operation on 25 March 2017. With this, the commercial capacity of NTPC and NTPC group has become 40,522 MW and 47,293 MW respectively. The announcement was made after market hours yesterday, 30 March 2017.

TCS said that the company has collaborated with SATS, Asias leading provider of airport ground handling and food solutions services, to develop a smart watch solution that is believed to be the worlds first mobile solution for airport Technical Ramp operations. The Technical Ramp Smart Watch solution is now supporting SATS operations at Singapores Changi Airport, a leading global hub of travel, technology adoption and efficiency. The announcement was made after market hours yesterday, 30 March 2017.

Jindal Steel & Power (JSPL) said its board at a meeting held yesterday, 30 March 2017, approved issue of 4.80 crore convertible warrants to Opelina Finance and Investment, a promoter group entity on preferential basis, subject to the approval of the shareholders of the company and other necessary regulatory approvals. The board also approved the issue of 14.20 lakh equity shares to Nalwa Steel & Power on preferential basis, subject to the approval of the shareholders of the company and other necessary regulatory approvals. The announcement was made after market hours yesterday, 30 March 2017.

State Bank of Travancore (SBT) said it has allotted Basel III compliant Additional Tier 1 Bonds aggregating to Rs 300 crore, for inclusion in Tier 1 Capital of the bank, on private placement basis with call option on 30 March 2022. The coupon rate is 9% per annum. The announcement was made after market hours yesterday, 30 March 2017.

Central Bank of India said that the capital raising committee of the board of directors of the bank at its meeting held on 30 March 2017, approved raising of equity capital by conversion of entire IPDI capital of Rs 583.00 crore held by Government of India (GoI), into equity shares to be issued and allotted to GoI on preferential basis, at such conversion price as may be determined as per SEBI ICDR Regulations subject to requisite approvals. The announcement was made after market hours yesterday, 30 March 2017.

Bharat Financial Inclusion said it has assigned a pool of receivables of an aggregate value of Rs 192.58 crore to one of the largest public sector banks on a direct assignment basis as per the guidelines prescribed by the Reserve Bank of India. This is the third direct assignment transaction during FY17. The aggregate value of the three direct assignment transactions is Rs 778.09 crore. The announcement was made after market hours yesterday, 30 March 2017.

Indiabulls Housing Finance said it has allotted its twelfth and thirteenth tranche of secured, redeemable, non-convertible debentures aggregating to Rs 485 crore. The announcement was made after market hours yesterday, 30 March 2017.

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RIL in focus after completing stake sale in GAPCO
Mar 30,2017

Reliance Industries (RIL) will be in spotlight. Pursuant to the sale agreements signed by Reliance Exploration & Production DMCC (REPDMCC), an indirect wholly owned subsidiary of RIL and TOTAL, for the sale of the entire 76% interest held by REPDMCC in the Mauritius-incorporated Gulf Africa Petroleum Corporation (GAPCO), REPDMCC, TOTAL and GAPCO have obtained requisite regulatory approvals, consents and successfully completed the sale transaction.

GAPCO is a holding company with operating subsidiaries in Tanzania, Kenya and Uganda which are primarily engaged in petroleum product import, and trading, storage, distribution, marketing, supply and transportation of oil products in East Africa.

Since the acquisition of 76% equity interest in GAPCO by REPDMCC in 2007, GAPCO has significantly grown and is one of leading petroleum marketing company in East Africa owning retail outlets as well as onshore and offshore terminals.

REPDMCCs sale of its interest in GAPCO is pan of a joint transaction, wherein REPDMCC as well as the minority shareholder have sold their entire respective holdings in GAPCO for cash. The announcement was made after market hours yesterday, 29 March 2017.

Bharti Airtel announced that it has completed sale of 11.32% stake in its mobile tower arm Bharti Infratel to its wholly-owned subsidiary Nettle Infrastructure. Post the inter-se transfer, Bharti Airtel will hold 50.33% while Nettle will hold 11.32% in Bharti Infratel. The announcement was made after market hours yesterday, 29 March 2017.

Punjab National Bank (PNB) announced that it has raised Rs 250 crore through unsecured, subordinated, fully paid-up, non-convertible, Basel III compliant, perpetual debt instruments (series X) in the nature of debentures for inclusion in additional tier I capital. The coupon rate is 9.21% payable annually. The announcement was made after market hours yesterday, 29 March 2017.

Union Bank of India announced that it has issued 2,500 non-convertible, unsecured subordinated Basel III Compliant perpetual debt instruments aggregating to Rs 250 crore, eligible for inclusion in Additional Tier 1 (AT1) Capital. The bonds were issued on private placement basis. They carry a coupon rate of 9.1% per annum payable annually.

The AT1 bonds are rated BWR AA+/Stable by Brickwork Rating India (Brickwork) and IND AA by India Ratings and Research (India Ratings). The announcement was made after market hours yesterday, 29 March 2017.

Alkem Laboratories said that the United States Food and Drug Administration (USFDA) has issued an Establishment Inspection Report (EIR) for the companys active pharmaceutical ingredient (API) manufacturing facility located at Ankaleshwar, which was inspected in December 2016.

The inspection has now been closed by the USFDA. In response to the Form 483 issued by the USFDA, the company had submitted a detailed corrective and preventive action (CAPA) plan to the regulator within the stipulated timelines. The USFDA has reviewed the CAPA and has found them acceptable. The announcement was made after market hours yesterday, 29 March 2017.

Bharat Financial Inclusion said it has completed a securitization transaction for a pool amount of Rs 223.42 crore. With this, the company has completed four securitization transactions aggregating to Rs 1075.86 crore in FY17. 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 very low credit risk. The announcement was made after market hours yesterday, 29 March 2017.

Auto stocks will be watched after the Supreme Court yesterday, 29 March 2017, passed an order for ban on sale of vehicles that do not meet BS IV emission standards on and from 1 April 2017.

In this context, Hero MotoCorp, the leading two-wheeler manufacturer, said that, recognizing the need of the hour, it carefully planned a proactive move to switch from BS III to BS IV compliant products across all its range well in time and has been producing only BS IV compliant products since one month before the given deadline.

Hero MotoCorp said it has reduced its BS III inventory significantly in the past few months with the aim to minimize its stakeholder losses. However, environmental protection will take precedence over temporary financial benefits, it added. The announcement was made after market hours yesterday, 29 March 2017.

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Hindustan Zinc may drop on ex-dividend
Mar 29,2017

Shares of Hindustan Zinc turn ex-dividend today, 29 March 2017 for special dividend of Rs 27.50 per share for the year ending 31 March 2017.

Coffee Day Enterprises said that step-down subsidiary of the company Way2Wealth Brokers Private Limited has transferred entire 100% shares in its subsidiary namely Way2Wealth Illuminati Pte. to Alphagrep Securities, a fellow subsidiary with effect from 28 March 2017. The announcement was made after market hours yesterday, 28 March 2017.

Balasore Alloys said that the committee for preferential issue of warrants of the board of directors will be held on 31 March 2017 for allotment of 1 crore shares at Rs 21.50 per shares in lieu of 1 crore convertible warrants to the promoters on preferential basis pursuant to the authority given by the shareholders through postal ballot notice on 26 September 2016.

The company said that out of the 2.30 crore convertible warrants the remaining 1.30 crore warrants shall be converted into equity shares in the financial year 2017-18. The announcement was made after market hours yesterday, 28 March 2017.

Sundaram Fasteners announced that on 27 March 2017, the company acquired 16.80 lakh equity shares or 24% from Bleistahl Produktions GmbH & Co. KG (Bleistahl), in the share capital of Sundram Precision Components (SPCL), formerly Sundram Bleistahl, a subsidiary of the company. The company has acquired the equity shares from Bleistahl in SPCL for a cash consideration at Rs 31.45 per share.

With this acquisition, our company has 100% equity stake in SPCL compared to earlier holding of 76% and SPCL has thus become a wholly owned subsidiary of the company with effect from 27 March 2017. The announcement was made after market hours yesterday, 28 March 2017.

Karnataka Bank announced that it opened its 759th and 760th branch at Bengaluru. The announcement was made after market hours yesterday, 28 March 2017.

Mic Electronics announced that the meeting of the board of directors of the company is scheduled to be held on 31 March 2017 to consider and approve the allotment of 4.32 crore shares at Rs 20 per share to non-promoters. The announcement was made after market hours yesterday, 28 March 2017.

Himachal Futuristic Communications announced that debentures allotment committee of the board of directors of the company at a meeting held on 28 March, 2017 has approved the allotment of 10.3%, 29.49 lakh secured unlisted non-convertible debentures (NCDs) of the company of Rs 100 each aggregating to Rs 29.49 crore on private placement basis by way of conversion of outstanding right of recompense amount payable to the banks. The announcement was made after market hours yesterday, 28 March 2017.

Indowind Energy announced the successful re-powering of 1.920 megawatts (MW) wind farm capacity at Hanumsagar, Karnataka & has commenced make change of 3.025 MW wind farm capacity at Tirunelveli, Tamil Nadu after obtaining necessary approval from TANGEDCO. It is expected to generate additional yearly revenue of around Rs 2.5 crore. The announcement was made after market hours yesterday, 28 March 2017.

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Kotak Mahindra Bank may gain on capital raising plans
Mar 28,2017

Kotak Mahindra Bank said that the banks board of directors has scheduled a meeting on 30 March 2017 to consider raising of equity capital by the bank through rights issue, private placement, follow-on public offering (FPO), Qualified Institutions Placement (QIP), Global Depository Receipts (GDR), American Depository Receipts (ADR) or through any other permissible mode or a combination thereof, as may be considered appropriate. The announcement was made after market hours yesterday, 27 March 2017.

Axis Bank said that the board of directors of the bank has passed a resolution approving the allotment of 3 year senior floating rate notes aggregating to $10 million under the MTN programme through its Dubai International Financial Centre (DIFC) branch. The announcement was made after market hours yesterday, 27 March 2017.

Technofab Engineering won new orders including three orders from Power Grid Corporation of India for about Rs 255 crore in Tripura. All three orders are in the Industrial and Rural Electrification Sector and works related to 33/11 KV Sub Stations & associated lines. The orders have a timeline of thirty three months for completion. One order from the Ministry of Agriculture and Animal Resources, Kigali , Rwanda for construction contract for establishment of centre of excellence in farm mechanization for $12.29 million exclusive of taxes and duties in Rwanda. The order has a timeline of twelve months for completion. The announcement was made after market hours yesterday, 27 March 2017.

Berger Paints India has commenced commercial production of its automotive and general industrial paints production plant having a capacity of 4,800 KL/MT per annum at Jejuri near Pune in Maharashtra on 27 March 2017. This facility will strengthen the companys supply capabilities in respect of automotive and general industrial paints and the capacity will be enhanced to 24,000 KL/MT per annum in phases. The announcement was made after market hours yesterday, 27 March 2017.

UCO Bank said that the board of directors of the bank approved proposal for issue of equity shares to Government of India against the proposed capital infusion of Rs 1150 crore by way of preferential allotment of equity shares. The announcement was made after market hours yesterday, 27 March 2017.

Dilip Buildcon said that it has been declared as the lowest-1 (L-1) bidder for two projects of Ministry of Road Transport & Highways (MORTH) in the state of Maharashtra. The projects include rehabilitation and up-gradation of two lane with paved shoulders on engineering, procurement and construction (EPC) mode from Kalamb to Wadki of total length of the project is 50.275 kilometers worth Rs 292.50 crore. The second project is rehabilitation and up-gradation of two lane with paved shoulder on EPC mode, from Mantha Taluka Border to Barshi, having total length of the project of 57.518 kilometers and worth Rs 288 crore. The announcement was made before market hours today, 28 March 2017.

India Home Loan announced that the company has entered into MOU with National Housing Bank (NHB) for implementation of Credit Linked Subsidy Scheme for MIG (Middle Income Group) for providing interest subsidy to cater to the housing needs of middle income group segments. The announcement was made after market hours yesterday, 27 March 2017.

Bank of India said that it has raised Rs 1000 crore by issue of Basel-III compliant tier-II bonds (Series XIV) on 27 March 2017. The bonds bear coupon rate of 8% per annum. . The announcement was made after market hours yesterday, 27 March 2017.

Aurobindo Pharma clarified with reference to article published with heading n++Aurobindo Pharma may face the brunt of suspension calln++ that it has five products with different strengths in select EU countries which are affected due to decision by European Medicines Agency (EMA) on the CRO. Some of these products are not currently on market and, in fact, are awaiting for approval in some countries. The combined sales of these products is less than $5 million per annum for the company. The clarification was issued after market hours yesterday, 27 March 2017.

Jindal Steel & Power said that a meeting of the board of directors of the company is scheduled to be held on 30 March 2017, to consider various modes of fund raising by way of preferential allotment of securities to different entities including the promoter(s)/promoter group entity(ies). The announcement was made after market hours yesterday, 27 March 2017.

Andhra Bank said that the board of directors of the bank, in the meeting held on yesterday, 27 March 2017 has approved. raising of equity capital of the bank by way of preferential allotment to Government of India (GOI) to the tune of Rs 1100 crore. The board also approved raising of equity capital of the bank through qualified institutional placement, follow-on public offer, etc. at an appropriate time. The announcement was made after market hours yesterday, 27 March 2017.

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HDFC may gain after completing issuance of masala bonds
Mar 27,2017

HDFC said it has completed the issuance of masala bonds aggregating Rs 3300 crore (Rs 2000 crore issue plus green shoe option) on Friday, 24 March 2017. The bonds issue received a strong response from 29 investors across Asia and Europe.

The aggregate demand for the transaction was 2.16 times at Rs 4315 crore. The announcement was made after market hours on Friday, 24 March 2017.

The issue size is Rs 3300 crore with a yield of 7.35% per annum payable semi-annually. The maturity date of bonds is 30 April 2020.

Reliance Industries (RIL) said that the Securities and Exchanges Board of India (Sebi) has uploaded in its website its order in the matter relating to trading in RPL shares by RIL in November 2007. The trades in RPL shares which were examined by Sebi were genuine and bona fide transactions, RIL said. These were carried out keeping the best interest of the company and its shareholders, in view, it added.

RIL said that Sebi appears to have misconstrued the true nature of the transactions and imposed unjustifiable sanctions.

RIL said it is in the process of consulting its legal advisors. It proposes to prefer an appeal and challenge the order in Securities Appellate Tribunal. RIL said it remains confident of fully justifying the veracity of the transactions and vindicating its stand.

RIL said that it has full confidence in the judicial process and it proposes to vigorously exercise all options available to it to challenge the untenable findings in the order. The announcement was made after market hours on Friday, 24 March 2017.

Coal India will be in focus. The Competition Commission of India (CCI) has found Coal India (CIL) and its subsidiaries to be in contravention of the provisions of Section 4(2)(a)(i) of the Competition Act, 2002 for imposing unfair/discriminatory conditions in Fuel Supply Agreements (FSAs) with the power producers for supply of non-coking coal.

The final order has been passed on a batch of informations filed by Maharashtra State Power Generation Company and Gujarat State Electricity Corporation against Coal India and its subsidiaries (Mahanadi Coalfields Ltd., Western Coalfields Ltd., South Eastern Coalfields Ltd.).

The order has been passed by CCI pursuant to the directions issued by Competition Appellate Tribunal remanding the matter back while setting aside the original order of CCI in which a penalty of Rs 1773.05 crore had been imposed upon CIL. After hearing the parties afresh in terms of the directions issued by Competition Appellate Tribunal, CCI held that CIL through its subsidiaries operates independently of market forces and enjoys dominance in the relevant market of production and supply of non-coking coal in India.

CCI noted in the order that CIL did not evolve/ draft/ finalize the terms and conditions of FSAs through a bilateral process and the same were imposed upon the buyers through a unilateral conduct. CCI found CIL and its subsidiaries to be in contravention of the provisions of Section 4(2)(a)(i) of the Competition Act, 2002 for imposing unfair/ discriminatory conditions in FSAs with the power producers for supply of non-coking coal.

Apart from issuing a cease and desist order against CIL and its subsidiaries, CCI has directed modification of FSAs in light of the findings and observations recorded in the order. The impugned clauses related to sampling and testing procedure, charging transportation and other expenses for supply of ungraded coal from the buyers, capping compensation for supply of stones etc.

For effecting the modifications in FSAs, CIL has been ordered to consult all the stakeholders. CIL has also been directed to ensure uniformity between old and new power producers as well as between private and PSU power producers.

Further, CCI has imposed a penalty of Rs 591.01 crore upon CIL for the abusive conduct. While reducing penalty, CCI noted the steps taken by CIL to improve the sampling procedure even post-passing of the original order by CCI.

However, while holding the extant sampling procedure as unfair, CIL has been directed to incorporate suitable modifications in fuel supply agreements to provide for a fair and equitable sampling and testing procedure besides considering the feasibility of sampling at the unloading-end in consultation with power producers and adopting international best practices. The announcement was made after market hours on Friday, 24 March 2017.

ITC will be in focus. Government through specified undertaking of the Unit Trust of India (SUUTI) has divested 2% shares of the total shares of ITC to LIC through block trade on 7 March, 2017. Government has received an amount of Rs 6682 crore from this transaction.

Disinvestment of Government of India equity is under taken as per the disinvestment policy of the GoI keeping in view the resource requirement of the Government and the prevailing market condition.

This was stated by Arjun Ram Meghwal, Minister of State in the Ministry of Finance in written reply to a question in Lok Sabha on Friday, 24 March 2017.

HCL Technologies said MillerCoors, LLC, a client of the company has filed a lawsuit in the United States District Court for the Northern District of Illinois against the company and HCL America Inc., a wholly owned subsidiary of the company.

MillerCoors allegations under the complaint is that HCL did not deliver an enterprise software project as per the agreed timelines. The specific project started in December 2013 and ended in June 2016. The company continues to have a good business relationship with MillerCoors. The company has other ongoing projects with MillerCoors running smoothly.

The company is in discussions with MillerCoors to resolve this matter amicably. The project in consideration has already ended and the company is not expecting any adverse financial impact of the same for Q4 March 2017. The company issued the clarification on Saturday, 25 March 2017 with regards to news appearing in the media.

Bank of Maharashtra announced that its board of directors at a meeting held on 24 March 2017 approved the proposal of raising of equity capital upto Rs 300 crore by way of preferential allotment in favour of Government of India. The announcement was made after market hours on Friday, 24 March 2017.

Music Broadcast, subsidiary of Jagran Prakashan has commenced broadcast from its radio station at Patna (which was acquired under Phase III auctions held last financial year). The frequency for Patna location is 91.1 F.M. The announcement was made after market hours on Friday, 24 March 2017.

Reliance Capital announced completion of transfer of its commercial finance division - Reliance Commercial Finance (RCFL) - into a separate wholly owned subsidiary. The company had announced the transfer of its Commercial Finance division into a separate subsidiary on 25 February 2016, subject to requisite Regulatory, High Court and Reliance Capital shareholders approvals, which have since been received.

RCFL is amongst the leading SME lenders in the Indian non-banking finance space with a focus on asset backed lending and productive asset creation. The Commercial Finance division has an aggregate asset under management (including securitized portfolio) portfolio of Rs 16191 crore ($2.4 billion) as of 31 December 2016.

Anmol Ambani, ED, Reliance Capital said Reliance Commercial Finance now stands as a fully owned subsidiary of Reliance Capital. This completes the restructuring process as Reliance Capital moves to become a Core Investment Company from next fiscal.

This transfer will align RCFL with the overall operating structure of Reliance Capital wherein all operating businesses are held either as wholly owned or majority owned subsidiaries. The proposal will enhance management focus and provide flexibility to the company to unlock value through stake sale.

Reliance Nippon Life Insurance and Reliance Nippon Life Asset Management, both subsidiaries of Reliance Capital, already have a strategic partner - Nippon Life Insurance - with 49% stake in each business.

The transfer will also enhance employee engagement and retention through ability to grant ESOPs in the business. The transfer, pursuant to the Scheme of Arrangement, will be effective from 1 April 2016. Reliance Capital would be applying to the RBI for registering itself as a Core Investment Company (CIC) and expects to become a CIC soon, subject to necessary approvals. The announcement was made after market hours on Friday, 24 March 2017.

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Bharti Airtel in focus on pact to acquire Tikonas 4G biz
Mar 24,2017

Bharti Airtel announced that it has entered into a definitive agreement with Tikona Digital Networks (Tikona) to acquire Tikonas 4G business including broadband wireless access (BWA) spectrum and 350 sites, in five telecom circles for about Rs 1600 crore.

The acquisition will be funded in the way of cash and debt. The indicative time period for the completion of the acquisition is up to 60 days. Airtel plans to roll-out high speed 4G services on the newly acquired spectrum in the five circles immediately after the closure of the transaction. The announcement was made after market hours yesterday, 23 March 2017.

BPCL announced that the board of directors have declared second interim special dividend of Rs 12 per share for the year ending 31 March 2017 (FY 2017). The board fixed 27 March 2017 as record date to determine the eligibility of the shareholders to receive the second interim special dividend. The announcement was made after market hours yesterday, 23 March 2017.

Yes Bank announced that its capital raising committee yesterday, 23 March 2017, passed resolutions approving and adopting the preliminary placement document dated 23 March 2017, in connection with the qualified institutional placement (QIP) and authorizing the opening of the QIP on 23 March 2017. The floor price for the QIP is fixed at Rs 1,498.95 per equity share.

The bank may at its discretion offer a discount of up to 5% on the floor price in the QIP. The capital raising committee of the board of directors of the bank on 29 March 2017, would consider and determine the price for equity share of the bank to be issued in the QIP. The announcement was made after market hours yesterday, 23 March 2017.

Siemens announced that it has won an order worth about Rs 187.4 crore from Bangladesh Rural Electrification Board (BREB), Dhaka. The project includes construction of new 33/11 kV Air Insulated Switchgear substations in Dhaka, Chittagong and Sylhet. BREB is an electricity distribution provider under the Government of Bangladesh responsible for providing electricity to the rural parts of Bangladesh.

All the products and solutions delivered for the project have been manufactured in factories at Siemens India. The announcement was made after market hours yesterday, 23 March 2017.

Adani Power said it has allotted 1.73 crore equity shares upon partial conversion of the convertible warrants as earlier allotted on preferential basis to promoter group entities. The shares were allotted at Rs 32.54 per share. Subsequent to this allotment, the shareholding of the promoter and promoter group has increased to 68.08% of the enhanced paid up equity share capital of the company. The announcement was made after market hours yesterday, 23 March 2017.

Can Fin Homes announced that the board of directors of the company at a meeting held on 23 March 2017 renewed/revalidated the approval/authorizations for borrowing upto Rs 3000 crore by way of issue of non-convertible debentures on private placement basis. The announcement was made after market hours yesterday, 23 March 2017.

Himachal Futuristic Communications announced that the meeting of the debentures allotment committee of the board of directors will be held on 28 March, 2017 to consider and approve the allotment of non-convertible debentures (NCDs) aggregating to Rs 29.49 crore on private placement basis by way of conversion of outstanding right of recompense amount payable to the banks. The announcement was made after market hours yesterday, 23 March 2017.

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Hindustan Zinc may gain after boards nod for special interim dividend
Mar 23,2017

Hindustan Zinc said its board of directors at a meeting held on Wednesday, 22 March 2017, approved special interim dividend of Rs 27.50 per share for the year ending 31 March 2017 (FY 2017). The record date for the payment of interim dividend is 30 March 2017. The announcement was made after market hours yesterday, 22 March 2017.

State Bank of India (SBI) announced that it has made payment of Rs 219.93 crore (principal amount plus interest) on 22 March 2017, to the eligible bondholders of under Upper Tier-II subordinated bonds issued on 22 March 2007, by the erstwhile State Bank of Indore since merged with SBI. The announcement was made after market hours yesterday, 22 March 2017.

IndusInd Bank announced that the finance committee of the board yesterday, 22 March 2017, allotted debentures for cash aggregating to Rs 1000 crore on Private Placement basis towards non-equity regulatory Additional Tier 1 Capital (AT1 Bonds). The bonds will be listed on the wholesale debt market (WDM) segment of National Stock Exchange of India (NSE). The announcement was made after market hours yesterday, 22 March 2017.

Axis Bank announced that its board passed a resolution approving the allotment of 1 year senior fixed rate notes aggregating to $16.2 million under the MTN Programme through its Dubai International Financial Centre (DIFC) branch. The announcement was made after market hours yesterday, 22 March 2017.

Menon Bearings announced that the company has transferred its entire stake held in Flyga Auto, a wholly owned subsidiary and hence ceases to be subsidiary of the company from 22 March 2017. The announcement was made after market hours yesterday, 22 March 2017.

Flyga Auto was incorporated on 30 September 2016 and is yet to commence commercial operations. The consideration received from sale in Rs 3.67 crore. The shares are transferred to promoters and promoter group members, namely, Nitin Menon, Sucheta Menon, Aditya Menon and Anshul Menon.

HIL said that the company is holding 33% stake in Supercor Industries, Nigeria as a joint venture between the company and other shareholders including State Government of Bauchi. The JV is under losses since 2014 and facing cash crisis and could not meet their routine obligation of paying salaries/wages and other payments and is under winding up proceedings under the Courts of Nigeria. In view of the above mentioned reasons, company is unable to consolidate the financial statements of its overseas joint venture with the financial statements of company. The announcement was made after market hours yesterday, 22 March 2017.

Hindustan Composites announced that a meeting of the board of directors of the company is scheduled to be held on 10 April 2017, to consider further issue of shares by way of bonus shares, to consider the sub division of face value of equity shares of the company and to consider seeking approval of the shareholders of the company through postal ballot process for the same. The announcement was made after market hours yesterday, 22 March 2017.

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HUL in focus after commencing commercial production at Assam unit
Mar 22,2017

Hindustan Unilever (HUL) announced that it has commenced the commercial production in its new manufacturing unit at Assam on 15 March 2017. The announcement was made after market hours yesterday, 21 March 2017. The company had earlier informed about setting up new manufacturing unit in Assam to augment the production capacity of personal care products of the company.

Indiabulls Housing Finance announced that it has allotted its seventh tranche of secured, redeemable, non-convertible debentures of face value Rs 10 lakh each (NCDs) aggregating Rs 600 crore i.e. Rs 500 crore plus Greenshoe option of Rs 100 crore. The announcement was made after market hours yesterday, 21 March 2017.

Mawana Sugars announced that the board of directors of the company, vide resolution dated 21 March 2017, has agreed to enter into one time settlement (OTS) with Punjab National Bank (PNB) Muzaffarnagar, Uttar Pradesh. The purpose of the OTS was for resolution of non performing asset (NPA) debt. The company settled total memoranda dues of Rs 109.46 crores (as per PNB), for a consolidated agreed amount of Rs 79.79 crore, payable over 15 month without interest. The announcement was made after market hours yesterday, 21 March 2017.

ABC Bearings announced that it has sold its entire 2.5% equity stake in NSK-ABC Bearings Private Ltd (NABI) to NSK India Sales Company Pvt. Ltd, pursuant to the terms of a share purchase agreement dated 21st March 2017 entered into between ABC, NABI, NSK and the purchaser. The announcement was made after market hours yesterday, 21 March 2017.

Dena Bank announced that the board of directors of the bank approved raising of share capital of the bank upto an amount of Rs 800 crore. The capital will be raised by issue of shares to Government of India upto an amount of Rs 600 crore, by issue of shares to LIC of India upto an amount of Rs 180 crore and to GIC of India upto an amount of Rs 20 crore on preferential issue basis. The announcement was made after market hours yesterday, 21 March 2017.

Wockhardt announced that abbreviated new drug application (ANDA) of Piperacillin and Tazobactam for Injection USP, 40.5 g/vial, pharmacy bulk package submitted by Wockhardt Bio AG, subsidiary of the company has been approved by US Food and Drug Administration (USFDA). Wockhardts ANDA was determined to be therapeutically equivalent to the reference listed drug (RLD) Zosyn for Injection 40.5g/vial, pharmacy bulk package of Wyeth Pharmaceuticals Inc.

Wockhardt Bio AG had filed this ANDA in collaboration with Fresinius Kabi, Italy (FKAI), where the product development was completed. The ANDA will be manufactured commercially at FKAI, Mitim, Italy. The announcement was made after market hours yesterday, 21 March 2017.

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