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Yes Bank may gain on plans to raise funds
Dec 16,2016

Yes Bank announced that it has necessary approvals from the board of directors and shareholders to borrow/ raise funds in Indian/foreign currency by issue of debt securities including but not limited to non-convertible debentures, MTN (Medium Term Notes), bonds upto Rs 10000 crore by the bank, in one or more tranches on private placement basis from time to time. The announcement was made after market hours yesterday, 15 December 2016.

Accordingly, the Capital Raising Committee (CRC) of the board would consider the proposal to raise funds by issuing debt securities on private placement basis, including the terms of the issue.

Sun Pharmaceutical Industries (Sun Pharma) said that all the necessary formalities for closure of acquisition of 100% equity stake of Ocular Technologies, Sarl have been concluded and it has successfully completed the acquisition of Ocular Technologies, Sarl. The announcement was made after market hours yesterday, 15 December 2016.

Tata Communications announced that the company vide letter dated 28 June 2016, had informed to stock exchange that Liquid Telecom, a pan-African telecoms group, majority owned by Econet Wireless Global, had entered into an agreement to acquire South African communications network operator Neotel, which is a subsidiary of the company.Thereafter, vide letter dated 8 November 2016, the company informed that the board of directors of the company at a meeting held on 8 November 2016 recommended to the shareholders of Neotel, the sale of the entire shareholding in Neotel, subject to approval of the Independent Communications Authorityof South Africa (ICASA).

Neotel has now informed that they have received unconditional approval from ICASA for acquisition of Neotel by Liquid Telecom which is another step towards closing of the transaction. The announcement was made after market hours yesterday, 15 December 2016.

Rei Agro reported net loss of Rs 66.30 in Q2 September 2016 compared with net loss of Rs 286.59 crore in Q2 September 2015. Net sales fell 54.86% to Rs 17.61 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 15 December 2016.

IL&FS Transportation Networks announced that as part of internal restructuring exercise, the company decided to acquire all the equity investments held by Elsamex SA & its Group companies in their Indian subsidiaries. The announcement was made after market hours yesterday, 15 December 2016.

Confidence Petroleum India announced that a meeting of the board of directors of the company will be held on 19 December 2016, to consider the proposal of buy-back of equity shares of the company. The announcement was made after market hours yesterday, 15 December 2016.

Saksoft announced the acquisition of majority stake in DreamOrbit to strengthen its IoT offering. Saksoft acquired a 60% of stake in Dreamorbit Softech, a company based out of Bengaluru providing Technology Solutions to Logistics Industry. The announcement was made after market hours yesterday, 15 December 2016.

Claris Lifesciences announced that the board of directors of the company at a meeting held on 15 December 2016 approved the sale and transfer of the Injectable Business of the company by way of sale of the subsidiary companies; Claris Injectables Limited, Claris Pharmaservices, Elda International DMCC, Claris Lifesciences Inc., Claris Lifesciences (UK) Limited, Claris Lifesciences (Aust) Pty. Limited, and Claris Lifesciences Philippines, INC. The announcement was made after market hours yesterday, 15 December 2016. The company will sell Global Generic Injectables Business to Baxter for $625 million.

Great Eastern Shipping Company announced that the company took delivery of secondhand supramax dry bulk carrier. The announcement was made after market hours yesterday, 15 December 2016.

Welspun India announced that it expanded its product portfolio and forayed into flooring solutions with Rs 600 crore carpet plant. The announcement was made after market hours yesterday, 15 December 2016.

Dilip Buildcon announced that a new project is awarded to the company in the State of Andhra Pradesh. The announcement was made after market hours yesterday, 15 December 2016.

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Cipla may gain after subsidiary forms a pharma joint venture in Iran
Dec 15,2016

Cipla announced that Cipla Holding B. V., a wholly owned subsidiary of the company in Netherlands, Cipla Netherlands, has entered into a joint venture agreement with Ahran Tejarat Company. The announcement was made after market hours yesterday, 14 December 2016. Cipla Netherlands will hold a 75% stake in a joint venture company in Iran while Ahran Tejarat will hold the remaining 25% stake. Investment by Cipla Netherlands is estimated to a maximum of Euro 16.875 million. The joint venture proposes to undertake manufacturing and marketing of pharmaceutical products in Iran.

Separately, Cipla announced that a meeting of the board of directors of the company is scheduled to be held on 19 December 2016, to consider the proposal of raising funds through issue of equity shares or American depository receipts or global depository receipts or foreign currency convertible bonds or non-convertible debenture (in form of bonds or otherwise) or bonds or any other securities/financial instruments, whether denominated in Indian Rupee and/or foreign currency(ies), either by way of a public issue or by way of a private placement (including through a qualified institutions placement) in accordance with the provisions of the applicable law. The fund raising would be subject to necessary permissions, sanctions and approvals (including shareholders approval and such other statutory approvals as may be required) and the provisions of the laws.

Axis Bank announced that its board of directors at its meeting held yesterday, 14 December 2016, approved the allotment of non-convertible debentures aggregating to Rs 3500 crore on a private placement basis. The debentures will be listed on the wholesale debt market segment of the BSE and National Stock Exchange of India. The announcement was made after market hours yesterday, 14 December 2016.

Infosys announced that it has made an investment from its Innovation Fund in IdeaForge, an Indian startup focused on Unmanned Aerial Vehicle (UAV) solutions. IdeaForges high performance UAVs, which have been designed and built in India, have significant potential in industrial use cases. The investment is subject to receipt of regulatory approvals and customary closing conditions. The announcement was made after market hours yesterday, 14 December 2016.

Unitech reported consolidated net loss of Rs 13 crore in Q2 September 2016 compared with consolidated net loss of Rs 65.70 crore in Q2 September 2015. Total income dropped 42.27% to Rs 385.94 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 14 December 2016.

Ruchi Soya Industries net profit fell 77.91% to Rs 26.74 crore on 10.6% decline in net total income from operations to Rs 5127.95 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 14 December 2016.

Prime Focus reported consolidated net loss of Rs 36.10 crore in Q2 September 2016 compared with consolidated net loss of Rs 23.30 crore in Q2 September 2015. Total revenue rose 8% to Rs 483.70 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 14 December 2016.

Country Club Hospitality & Holidays reported net loss of Rs 5.86 crore in Q2 September 2016 compared with net loss of Rs 2.96 crore in Q2 September 2015. Net sales fell 18.08% to Rs 59.80 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 14 December 2016.

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Coal India may drop on weak Q2 results
Dec 14,2016

Coal Indias consolidated net profit fell 77.37% to Rs 600.44 crore on 6.77% decline in total income to Rs 17625.09 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 13 December 2016.

Reliance Industries (RIL) announced that Global Business Innovators launched $1 billion investment fund for the next generation energy technologies. The members of the Breakthrough Energy Coalition (BEC) have committed to invest more than $1 billion in Breakthrough Energy Ventures (BEV), an investor-led fund that will finance emerging energy breakthroughs to deliver affordable and reliable energy with the goal of reducing global greenhouse gas emissions to near-zero. The announcement was made after market hours yesterday, 13 December 2016.

NTPC announced that it has decided to raise Rs 3925 crore through private placement of secured non-convertible debentures at a coupon of 7.37% per annum with a door to door maturity of 15 years on 14 December 2016. The proceeds will be utilized to finance capital expenditure/refinancing the debt requirement in on-going projects and other general corporate requirements. The announcement was made after market hours yesterday, 13 December 2016.

Power Grid Corporation of India announced that POWERGRID Warora Transmission Limited, a wholly owned subsidiary of the company, secured though tariff based competitive bidding (TBCB), has successfully completed the element - LILO of existing Seoni-Bina 765kV S/C line at Gadarwara STPP and declared the same for commercial operation on 30 November 2016. The announcement was made after market hours yesterday, 13 December 2016.

Wockhardt announced that UK MHRA has confirmed that the companys manufacturing unit at Kadaiya, Daman complies with the principles and guidelines of Good Manufacturing Practices. In view of this, the approval status of the unit continues. The announcement was made after market hours yesterday, 13 December 2016.

Amtek Auto posted net loss of Rs 755.18 crore in Q2 September 2016 compared with net loss of Rs 158.62 crore in Q2 September 2015. Total income fell 40.16% to Rs 498.92 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 13 December 2016.

Alok Industries posted net loss of Rs 527.71 crore in Q2 September 2016 compared with net loss of Rs 262.60 crore in Q2 September 2015. Total income fell 38.95% to Rs 2020.19 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 13 December 2016.

Thomas Cook (India) announced that the board of directors of the company at a meeting held on 13 December 2016 considered and approved to offer, invite, subscribe, secured or unsecured, redeemable, non convertible debenture upto Rs 300 crore, on private placement basis subject to the approval of the members through postal ballot. The announcement was made after market hours yesterday, 13 December 2016.

Jindal Steel & Power announced that Jindal Power, a subsidiary of Jindal Steel & Power has successfully obtained commercial date of operation (COD) in respect of 4th and last unit of 2400 megawatts power plant at Tamnar from 12 December 2016. The announcement was made after market hours yesterday, 13 December 2016.

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Axis Bank may gain on plans to raise funds
Dec 13,2016

Axis Bank announced that the bank proposes to raise funds by issuing unsecured subordinated, perpetual, additional Tier I, Basel III compliant non-convertible debentures (Series - 26) of the face value of Rs 10 lakh each for cash at par aggregating to Rs 3500 crore. The board of directors of the bank will consider the proposal to issue and allot the above Securities through circular resolution. The announcement was made after market hours yesterday, 12 December 2016.

Sun Pharmaceutical Industries and Israel-based Moebius Medical have entered into an exclusive worldwide licensing deal to further develop MM-II, a novel pharmaceutical candidate for the treatment of pain in osteoarthritis. MM-II is a novel non-opioid product that leverages the physical properties of proprietary liposomes to lubricate arthritic knee joints, thereby reducing friction and wear, consequently leading to joint pain reduction.

MM-II is an intra-articular biolubricant injection which is being developed to provide symptomatic relief of mild-to-moderate osteoarthritis pain. The product is based on patent-protected technology licensed by Moebius Medical from the Hebrew University of Jerusalem, Technion Israel Institute of Technology and Hadassah Medical Centre.

According to the agreement, Sun Pharma will fund further development of Moebius Medicals lead product, MM-II, and undertake its global commercialization. To date, Moebius Medical has completed a first-in-man clinical study at Hadassah Medical Center, demonstrating the products fast onset of action and its potentially better efficacy and comparable safety for alleviating osteoarthritis pain as compared to Hyaluronic Acid injection.

Moebius Medical will conduct requisite pre-clinical studies, and will assume responsibility for product development and manufacturing through the end of Phase-II studies. Sun Pharma will assume responsibility for further clinical studies, regulatory submissions and product commercialization. Moebius Medical will receive an upfront payment, development-based and sales-based milestone payments, and tiered royalties on sales from Sun Pharma. The announcement was made after market hours yesterday, 12 December 2016.

NIIT announced that the company has entered into a share purchase agreement dated 12 December 2016, with National Skill Development Corporation (NSDC), in terms of which company has agreed to acquire 23.13 lakh equity shares of NIIT Yuva Jyoti (NYJL) having face value of Rs 10 each constituting 10% of the aggregate issued and paid-up share capital of NYJL from NSDC for an aggregate cash consideration of Rs 2.85 crore. The announcement was made after market hours yesterday, 12 December 2016.

Aarey Drugs & Pharmaceuticals announced that the meeting of the board of directors of the company is to be held on 19 December 2016, to review current business and raising funds from the banks.The board will also consider the issue of equity shares and/or warrants on preferential basis to the promoters/ non-promoters of the company. The announcement was made after market hours yesterday, 12 December 2016.

Sunteck Realty reported consolidated net profit including other comprehensive income of Rs 96 crore in Q2 September 2016 compared with loss of Rs 8 crore in Q2 September 2015. Income from operations jumped 582% to Rs 206 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 12 December 2016.

Sunteck Realty announced that the board of directors of the company at a meeting held on 12 December 2016, approved the transfer of its step-down subsidiary - Denise Realties Private to Thaler Developers.

Glenmark Pharmaceuticals Inc., USA announced theavailability of ezetimibe, the first and only generic version of ZETIA (Merck) in the United States for the treatment of high cholesterol. The availability of ezetimibe is the result of a licensing partnership with Par Pharmaceutical, an Endo International plc operating company, with whom Glenmark will share profits. Glenmark and its partner, Endo will be entitled to 180 days of generic drug exclusivity for ezetimibe as provided for under section 505(j)(5)(B)(iv) of the FD&C Act.

Ezetimibe is indicated as adjunctive therapy to diet for the reduction of elevated total cholesterol (total-C), low-density lipoprotein cholesterol (LDL-C), and apolipoprotein B (Apo B) in patients with primary (heterozygous familial and non-familial) hyperlipidemia.According to IMS Health data for the 12-month period ending October 2016, annual US sales of Zetia 10 mg1 were approximately $2.3 billion. The announcement was made after market hours yesterday, 12 December 2016.

APL Apollo Tubes received patents for 4 hollow section designs. The announcement was made after market hours yesterday, 12 December 2016.

IRB Infrastructure Developers announced that Udaipur Tollway Private Limited -wholly-owned subsidiary of the company, has now executed concession agreement with NHAI for the project of six laning from Udaipur to Rajasthan/ Gujarat Border section of NH-8 in the states of Rajasthan & Gujarat on DBFOT (Toll) under NHDP Phase V (package-V).

The company added that CG Tollway Private, wholly-owned subsidiary of the company, has now executed concession agreement with NHAI for the project of six laning of Kishangarh Udaipur Ahmedabad section of NH - 79 in the state of Rajasthan Package 2 under NHDP Phase - V on BOT (Toll) mode. The announcement was made after market hours yesterday, 12 December 2016.

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SBI may gain after board approval for divestment of 3.9% stake in life insurance unit
Dec 12,2016

State Bank of India (SBI) announced that the executive committee of the central board (ECCB) of the bank at a meeting held on 9 December 2016, approved divestment of 3.9 crore equity shares constituting 3.9% stake in SBI Life Insurance Company at a price of Rs 460 per share, subject to all regulatory approvals. The announcement was made after market hours on Friday, 9 December 2016.

Indusind Bank announced that the finance committee of the board has on 9 December 2016, allotted 15,000 unsecured redeemable non-convertible bonds in the nature of debentures of face value of Rs 10 lakh each at par to the identified investor(s) on private placement basis, for an amount of Rs 1500 crore. The announcement was made after market hours on Friday, 9 December 2016.

Tata Motors announced that the Tata Motors Group global wholesales including Jaguar Land Rover rose 1% to 91,832 units in November 2016 over November 2015. Global wholesales of all passenger vehicles rose 5% to 64,862 units in November 2016 over November 2015. The announcement was made after market hours on Friday, 9 December 2016.

Idea Cellular said it proposes to issue non-convertible debentures amounting to Rs 1500 crore on private placement basis. The tenure of debentures is 5 years with a coupon/interest of 7.57% per annum. The announcement was made after market hours on Friday, 9 December 2016.

Axis Bank announced acquisition of shares representing 13.67% of the total paid up capital in Assets Care and Reconstruction Enterprise from IFCI at Rs 31 per share for cash aggregating Rs 22.72 crore. The announcement was made after market hours on Friday, 9 December 2016.

NMDCs net profit fell 5.61% to Rs 770.76 crore on 1.29% fall in total income to Rs 2012.64 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours on Friday, 9 December 2016.

Shilpi Cable Technologies announced that the expansion program for setting up of copper up cast for manufacturing of oxygen free copper (OFC) rods & copper magnesium rods has been completed. The machinery & technology has been imported from UK & it is one of the latest technology which will help the company not only to boost its revenue & margin but also give edge over its competitors. The announcement was made on Sunday, 11 December 2016.

DLFs consolidated net profit fell 0.04% to Rs 206.09 crore on 0.4% decline in total income to Rs 2225.66 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours on Friday, 9 December 2016.

Jaiprakash Associates reported net loss of Rs 781.20 crore in Q2 September 2016 compared with net loss of Rs 547.22 crore in Q2 September 2015. Total income declined 43.87% to Rs 1437.09 crore in Q2 September 2016 over Q2 September 2015. The announcement was made on Saturday, 10 December 2016.

OM Metals Infraprojects announced that Food Corporation of India (FCI) has issued letter of award (LOA) to the company allowing concession for a period of 30 years at four locations Bhagalpur (Bihar), Fatehpur (UP), Malda (West Bengal) and near Siddhpur (Gujarat) for development /construction of silos of 50,000 metric tons capacity at each location on design, build, finance, operate and own (DBFOO) basis for storage of wheat on fixed charge basis to the concessionaire. The announcement was made on Saturday, 10 December 2016.

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Sail, Jindal Steel may drop after reporting weak Q2 results
Dec 09,2016

Steel Authority of India (Sail) reported net loss of Rs 731.58 crore in Q2 September 2016 compared with net loss of Rs 1108.04 crore in Q2 September 2015. Total income rose 20.68% to Rs 12645.76 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 8 December 2016.

Jindal Steel & Power reported consolidated net loss of Rs 745.98 crore in Q2 September 2016 compared with net loss of Rs 909.53 crore in Q2 September 2015. Total income fell 1.5% to Rs 4666.22 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 8 December 2016.

Mahindra & Mahindra (M&M) announced that the company will be undertaking scheduled maintenance shutdown at some of its automotive and tractor plants in December, 2016. It will also observe on need basis few days as No Production Days at some of its automotive and/or tractor plants including Chakan plant of its wholly owned subsidiary Mahindra Vehicle Manufacturers as part of its efforts to optimize inventories during December year-end.

The management does not envisage any adverse impact on the availability of products in the market due to adequacy of stocks to serve the market requirements. The announcement was made after market hours yesterday, 8 December 2016.

Power Grid Corporation of India announced that a meeting of committee of directors for bonds is planned to be held on 14 December 2016 to consider issue of secured, redeemable, non-convertible, non-cumulative, taxable bonds (Debenture) under private placement. The announcement was made after market hours yesterday, 8 December 2016.

NLC Indias net profit fell 13.62% to Rs 300.42 crore on 15.79% rise in total income to Rs 2148.28 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 8 December 2016.

NHPC announced that power purchase agreement (PPA) in respect of up-coming projects Tawang-I and Tawang-II HE Project has been signed on 6 December 2016 with Assam Power Distribution Company. Bulk Power Supply Agreement (BPSA) in respect of Loktak Power Station, Manipur has also been extended on 6 December 2016 with Assam Power Distribution Company.

Further, the company has informed that both PPA and BPSA signed for a period of 35 years from the date of commercial operation (COD) of respective projects. The announcement was made after market hours yesterday, 8 December 2016.

Finolex Industries net profit rose 27.61% to Rs 51.31 crore on 2.41% decline in total income to Rs 532.33 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 8 December 2016.

Sterling Biotech announced that the Bank of New York Mellon, in its capacity as depository to the global depositary receipts (GDRs) issued by the company in the year 2003, have issued termination notice to the holders of GDRs intimating that they will terminate the deposit agreement dated 1 October 2003, and as a result the existing GDR facility will be terminated 6 March 2017. The announcement was made after market hours yesterday, 8 December 2016.

Max Ventures and Industries announced that Max I., a wholly owned subsidiary of Max Ventures and Industries acquired 2.69 lakh equity shares of FSN E-Commerce Ventures (FSN) on 8 December 2016, which represents its 1.99% equity capital. FSN is engaged in the business of selling cosmetic products, personal and home accessories to consumers in India through e-commerce platform-Nykaa.com. The announcement was made after market hours yesterday, 8 December 2016.

IL&FS Engineering and Construction Company announced that it emerged as lowest bidder for rural electrification works Worth Rs 225 crore in Jharkhand. The announcement was made after market hours yesterday, 8 December 2016.

Time Technoplast announced that the meeting of the board of directors of the company will be held on 13 December 2016 to consider alternate means of fund raising including but not limiting to preferential issue of securities. The announcement was made after market hours yesterday, 8 December 2016.

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Tata Steel in focus after its UK unit reaches agreement with trade unions
Dec 08,2016

Tata Steel will be in focus. Tata Steel UK yesterday, 7 December 2016, reached an agreement with trade unions on a number of proposals that would structurally reduce risks and help secure a more sustainable future for its UK business.

The company will next week start consultation with its employees on a proposal to close the British Steel pension scheme to future accrual. Employees would be offered a competitive defined contribution scheme.

The proposal on pensions and other changes in the employment terms are part of the ongoing transformation plan that the business is undertaking. As part of agreement all parties will work towards making Tata Steel UK a sustainable business.

The company and trade unions have also agreed on the principle that subject to the structural de-risking and de-linking of the British Steel Pension Scheme fund from the business, Tata Steel UK will continue the existing blast furnace configuration in Port Talbot until 2021. Further, based on achieving the necessary financial performance and cash flows as per the transformation plan of the UK business, the company will continue to invest across the UK sites to enhance the competitive position of Tata Steel UK in the European steel industry. The company has also offered an employment pact until 2021 which supports employees through future changes by investing in their skills to support further plant upgrades, automation and other digital initiatives.

Tata Steel is the UKs largest steel manufacturer. It supplies almost 50% of UK carmakers steel requirements, including body panels and chassis, and a range of advanced steels for the UK construction industry which help to reduce buildings energy use.

Separately, Tata Steel also announced that its subsidiary, TM International Logistics (TMILL) has divested entire stake in its wholly owned step down subsidiary TM Harbour Services (TMHSPL) to Adani Ports and Special Economic Zone (APSEZ) for a total consideration of Rs 106 crore in an all cash deal.

TKM Global GmbH, Germany and International Shipping and Logistics FZE, Dubai, subsidiaries of TMILL, hold 74.18% and 25.82% equity shares in TMHSPL respectively. TMHSPL with an annual turnover of about Rs 29 crore is engaged in the business of providing Tug Services at Dhamra Port and owns 3 tug boats.

BPCL, Indian Oil Corporation and HPCL have separately informed that they signed a consortium agreement on 7 December 2016 to carry out pre-project activities for setting up of a West Coast Refinery & Petrochemical project of approximately 60 million metric tonne per annum (MMTPA) capacity in Maharashtra through a joint venture company. The announcement was made after market hours yesterday, 7 December 2016.

Indusind Bank announced that its board pf directors passed issuance of senior unsecured redeemable non-convertible long term bonds in the nature of debentures of face value of Rs 10 lakh each aggregating Rs 1500 crore on private placement basis. The announcement was made after market hours yesterday, 7 December 2016.

Prestige Estates Projects consolidated net profit fell 58.23% to Rs 64.51 crore on 29.4% fall in total income to Rs 1173.52 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 7 December 2016.

Tata Power Company announced that post Central Electricity Regulatory Commissions (CERC) order dated 21 February 2014 wherein CERC granted compensatory tariff to Coastal Gujarat Power (CGPL), the procurers had approached Appellate Tribunal for Electricity (APTEL) against the same.

APTEL, while setting aside the order of CERC, ruled that the promulgation of Indonesian regulation is a Force Majeure Event and remanded the matter to CERC to assess the impact of Force Majeure Event on Mundra UMPP of CGPL and give such relief as may be admissible under the PPA.

CERC, in its order dated 6 December 2016 has given a mechanism for assessing the relief under Force Majeure. The arrears for the past period shall be paid in six equal monthly instalments by the procurers in proportion to their share in the contracted capacity, from the date the CERC order is permitted to be implemented by the Supreme Court.

CGPL shall accordingly work out the relief for the past as well as the future period based on the mechanism specified by the CERC and shall bill the same on a monthly basis, which shall be trued up annually.

Further, adjustments for mining profits corresponding to the quantity of coal supplied to Mundra UMPP from the mines in which Tata Power has a stake shall be carried out at the time of annual reconciliation as the principles specified in the order. The order is being studied and the exact benefit would be worked out after detailed reading of the order. The announcement was made after market hours yesterday, 7 December 2016.

PNC Infratechs consolidated net profit rose 22.72% to Rs 27 crore on 25.41% fall in income to Rs 499 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 7 December 2016.

GMR Infrastructure reported net loss of Rs 700.34 crore in Q2 September 2016 compared with net loss of Rs 7.41 crore in Q2 September 2015. Total income rose 13.19% to Rs 331.22 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 7 December 2016.

Gujarat Ambuja Exports announced that the meeting of board of directors of the company will be held on 13 December 2016, to consider the proposal for buy back of the fully paid-up equity shares of the company. The announcement was made after market hours yesterday, 7 December 2016.

Crompton Greaves reported consolidated net loss of Rs 10.41 crore in Q2 September 2016 compared with net profit of Rs 10.58 crore in Q2 September 2015. Total income rose 6.78% to Rs 1545.19 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 7 December 2016.

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Interest rate sensitive stocks in focus ahead of RBIs rate decision
Dec 07,2016

Interest rate sensitive bank, realty and auto stocks will be in focus ahead of the Reserve Bank of Indias (RBI) monetary policy decision scheduled at 14:30 IST today, 7 December 2016. It will be interesting to watch RBIs monetary policy stance this time in a scenario of governments recent historic move of demonetization of higher denomination notes and amid easing consumer inflation.

ICICI Bank announced after market hours yesterday, 6 December 2016, that the committee of executive directors of the bank is scheduled to have a meeting on 9 December 2016, to consider fund raising in single/multiple tranches in any currency through public/private placement by way of issuances of debt instruments etc. for the remaining period of the financial year ending 31 March 2017 (FY 2017).

Adani Enterprises announced after market hours yesterday, 6 December 2016, that the company has incorporated a wholly owned subsidiary namely, Adani Cementation Limited (ACL) on 6 December 2016.

Lupin announced after market hours yesterday, 6 December 2016, that its US subsidiary, Lupin Pharmaceuticals, Inc. received final approval for its Desoximetasone Ointment USP, 0.25% from the United States Food & Drug Administration (USFDA) to market a generic version of Taro Pharmaceuticals, Incs Topicort Ointment, 0.25%. It is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid responsive dermatoses. Topicort had annual US sales of $14.4 million as per IMS MAT September 2016 data.

Jubilant FoodWorks announced after market hours yesterday, 6 December 2016, that Dominos launched new products designed for Foodies -Quattro Formaggi Burst Pizza and Choco Pizza.

Kirloskar Brothers announced after market hours yesterday, 6 December 2016, that Kirloskar Brothers International Pty Limited, companys step down subsidiary company in South Africa, being direct subsidiary of Kirloskar Brothers International B.V. has incorporated Kirloskar Brothers International Zambia Limited as its wholly owned subsidiary on 30 November 2016.

Shiva Cement announced before market hours today, 6 December 2016, that the board of directors of the company at a meeting held on 6 December 2016, approved allotment of 80 lakh equity shares of Rs 2 each at a premium of Rs 4.20 per share to Harsh Vanijya Private Limited upon exercise of option by them for conversion of equity share warrants earlier allotted to them on preferential basis.

Vishal Bearings announced after market hours yesterday, 6 December 2016, that the board of directors of the company have fixed the record date as 16 December 2016 for 1:4 bonus issue.

VST Tillers Tractors reported after market hours yesterday, 6 December 2016, power tiller sales of 1,495 units and tractors sales of 684 units in November 2016.

Deep Industries informed that a meeting of qualified institutional placement (QIP) committee of the company is scheduled to be held on 9 December 2016, to consider and determine the price of equity shares of the company to be issued in the QIP. The announcement was made after market hours yesterday, 6 December 2016.

KEI Industries in focus. In continuation of companys earlier update on planned capex/expansion at Chopanki plant, KEI Industries has announced after market hours yesterday, 6 December 2016, that new production line of Extra High Voltage (EHV) cables at Chopanki plant would be operational by the end of December 2016.

IL&FS Transportation Networks announced that the Joint Venture comprising of the company and PJSC Kyivmetrobud in the ratio of 70:30 had submitted bids with the Chennai Metro Rail (CMRL) on item rate basis for design validation and construction of works of underground station.

The Joint Venture has emerged as the lowest bidder for the development of the project. The Joint Venture had quoted an amount of Rs 371.218 crore for the project to be completed in a period of 20 months. The announcement was made after market hours yesterday, 6 December 2016.

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Tata Power may gain after winning order from Indian Army
Dec 06,2016

Tata Power Company announced that its strategic engineering division, Tata Power SED won a prestigious order from Ministry of Defence for supply of Command post and launcher of Pinaka multi rocket launcher system of one regiment to Indian Army. The announcement was made after market hours yesterday, 5 December 2016.

Lupin announced that Lupin Somerset also known as Novel Laboratories, Inc received final approval for its Hydrocodone Bitartrate and Acetaminophen Tablets, USP, 5mg/325mg, 7.5 mg/325 mg and 10 mg/325 mg from the United States Food and Drug Administration (FDA) to market a generic equivalent of Allergan Sales LLCs Norco Tablets 5 mg/325 mg, 7.5 mg/325 mg and 10 mg/325 mg. The company shall launch the product shortly. It is indicated for the relief of moderate to moderately severe pain. It has US sales of $849.50 million as per IMS MAT September 2016. The announcement was made after market hours yesterday, 5 December 2016.

Canara Bank announced that the sub-committee of the board of the bank, vide orders dated 2 December 2016, permitted the bank to float an RFP for empanelling the investment/merchant bankers for diluting the banks stake of 70% in Canbank Factors Ltd, an unlisted company and of 13.45% in Can Fin Homes Ltd, a listed company. Accordingly, the bank is taking steps to float an RFP for empanelling the investment/merchant bankers for the subject purpose. The announcement was made after market hours yesterday, 5 December 2016.

Oracle Financial Services Software announced that due to significant devaluation of Egyptian Pound post the recent liberalization of the exchange rates by the Egypt Government, the company is estimating a charge of Rs 60 crore on its receivables from customers in Egypt during the current quarter. The announcement was made after market hours yesterday, 5 December 2016.

Ballarpur Industries reported consolidated net loss of Rs 452.03 crore in Q2 September 2016 compared with net loss of Rs 18.06 crore in Q2 September 2015. Net total income from operations fell 56.56% to Rs 461.76 crore in Q2 September 2016 over Q2 September 2015. The result was announced before market hours today, 6 December 2016.

Bank of India intimated of marginal cost of funds based lending rate (MCLR) applicable from 7 December 2016. The announcement was made after market hours yesterday, 5 December 2016. Overnight MCLR was fixed at 9%, one month MCLR was fixed at 9.05%, three month MCLR was fixed at 9.1%, six months MCLR was fixed at 9.15% and one year MCLR was fixed at 9.25%.

JM Financial announced that JM Financial Products Limited, a subsidiary of the company, on 2 December 2016, acquired further 15.05 lakh equity shares of India Home Loan Limited (IHL) through preferential allotment route. After the acquisition, JM Financial Products Limited holds an aggregate of 34.99 lakh equity shares of IHL representing 24.5% of the total post issue paid up equity share capital of IHL. The announcement was made after market hours yesterday, 5 December 2016.

OM Metals Infraprojects announced that the company has been awarded a works contract for hydro mechanical works package for modernization and renovation of 180 megawatts Baira Siul hydro electric power station in Himachal Pradesh by NHPC.The contract value is Rs 19.91 crore and this contract has to be executed in 28 months time period. The announcement was made after market hours yesterday, 5 December 2016.

Goa Carbon announced that the operations at the companys Bilaspur Plant located at 34-40, Sector B, Sirgitti Industrial Area, Bilaspur (Chattisgarh) has been temporarily shut down from Saturday, 3 December 2016. There would not be any financial impact due to the temporary shutdown of the Companys Bilaspur Unit as there is sufficient inventory to service the orders in hand. The announcement was made after market hours yesterday, 5 December 2016.

Future Enterprises announced that the Committee of Directors of the company has at a meeting held on 5 December 2016, considered, approved & allotted of 60, 9.75% secured, redeemable non-convertible debentures (NCDs) of Rs 10 lakh each (NCD Series XV - E) and 290, 9.80% secured redeemable non-convertible debentures (NCDs) of Rs 10 lakh each, (NCD Series XV - F) aggregating to Rs 35 crore, on private placement basis. The announcement was made after market hours yesterday, 5 December 2016.

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State Bank of Travancore may gain on plans to raise funds
Dec 05,2016

State Bank of Travancore announced that the executive committee of the board of directors of the bank is scheduled to meet on 7 December 2016, to consider and approve, the raising of up to Rs 600 crore by way of issue of Basel III compliant additional tier I bonds. The issue parameters will be as decided in the meeting of the executive committee of the board of directors. The announcement was made after market hours on Friday, 2 December 2016.

NMDC announced that Government of India, Ministry of Steel has communicated the in-principle decision of the Cabinet Committee on Economic Affairs (CCEA) of Government of India to consider strategic disinvestment of the Nagarnar Steel Plant of the company. The announcement was made after market hours on Friday, 2 December 2016.

Separately, company announced on Saturday, 3 December 2016, that the prices of lump iron ore with effect from 29 November 2016 was kept unchanged at Rs 2,100 per wet metric tonne (WMT) compared to prices last revised in early November. The company rose fine ore prices by 5.68% to Rs 1,860 per WMT from 29 November 2016, compared to prices last revised in early November.

Simplex Infrastructures net profit fell 30.76% to Rs 18 crore on 11.88% drop in revenue to Rs 1290 crore in Q2 September 2016 over Q2 September 2015. The order book as on 30 September 2016 stood at Rs 13485 crore excluding the L1 of Rs 2543 crore. The result was announced on Sunday, 4 December 2016.

Info Edge (India) announced that the company has, through its wholly-owned subsidiary, invested an additional amount of Rs 1 crore through optionally convertible cumulative redeemable preference shares in Vcare Technologies which has developed a mobile application named DIRO that works as a cross platform sharable collaborative phonebook.

Accordingly, the aggregate investment by the company, including the above, is now Rs 4 crore in Vcare Technologies which translates to about 14.77% stake as on date (may change on account of conditions in investment/shareholder agreement) in the company on a fully converted and diluted basis. The announcement was made on Saturday, 3 December 2016.

Supreme Infrastructure India reported net loss of Rs 43.39 crore in Q2 September 2016 compared to net profit of Rs 1.11 crore in Q2 September 2015. Net total income from operations fell 41.84% to Rs 194.04 crore in Q2 September 2016 over Q2 September 2015. The announcement was made on Saturday, 3 December 2016.

Kolte-Patil Developers consolidated net profit rose 54% to Rs 19.30 crore on 25% rise in revenue to Rs 226 crore in Q2 September 2016 over Q2 September 2015. The announcement was made on Saturday, 3 December 2016.

Surya Roshni announced that considering the overwhelming response for the commercial paper programmes of Rs 200 crore and the present liquidity conditions, company had requested the ICRA Credit Rating Agency for enhancing the limit of Commercial Paper Programme to Rs 300 crore from Rs 200 crore.

ICRA Credit Rating vide its letter dated 1 December 2016 has assigned a provisional (ICRA)A1+(SO) rating for the enhanced amount of Rs 300 crore (enhanced from Rs. 200 crore).

The rating has been assigned based on request of the company, improved financial risk profile characterized by the improvement in its capital structure and debt coverage and supported by performance of the company. The rating as proposed by ICRA brings liquidity, gradually reduces the finance cost and enhance financial strength of the company. The announcement was made on Saturday, 3 December 2016.

Bajaj Finance announced allotment of 1,050 unsecured subordinated, Tier II, redeemable non-convertible debentures on private placement basis aggregating Rs 105 crore on 2 December 2016. The announcement was made on Saturday, 3 December 2016.

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Wipro in focus after securing contract from Woodside
Dec 02,2016

Wipro said that it has been awarded a three-year IT infrastructure services and digital transformation contract by Woodside, an Australian oil and gas company. The announcement was made after market hours yesterday, 1 December 2016.

Reliance Industries (RIL) will be in spotlight as the companys telecom unit Reliance Jio Infocomm (Jio) announced that it has crossed 5 crore subscribers in just 83 days from commencement of services on 5 September 2016. The average rate of addition of 6 lakh subscribers per day is the fastest achieved by any technology company in the world including the likes of Facebook, WhatsApp and Skype. The announcement hit the exchanges at the fag end of the market hours yesterday, 1 December 2016.

On this occasion, Jio also announced the launch of Jio Happy New Year Offer (JNO), which will be effective from 4 December 2016. All the Jio subscribers will be entitled to certain special benefits under the JNO, which shall comprise of Jios Data, Voice, Video and the full bouquet of Jio applications and content, absolutely free, up to 31 March 2017. During this offer period, Jio and Jio customers, will be able to continue the journey of co-creating and building the best network experience together.

The benefits will be available to all subscribers signing up for Jio services up to 3 March 2017. The existing Jio Welcome Offer (JWO) users will continue to enjoy the unlimited benefits under JWO up to 31 December 2016, following which they would be automatically signed-up for the JNO as well. Reliance Jio Infocomm, doing business as Jio, is a LTE mobile network operator in India. It is a wholly owned subsidiary of RIL.

IndusInd Bank announced that it proposes to raise funds by issue and allotment of senior unsecured redeemable non-convertible long term bonds in the nature of debentures (infrastructure bonds) for cash aggregating to Rs 1500 crore on private placement basis. The said borrowing shall be within the overall borrowing limits of the bank as may be approved by the shareholders from time to time. The announcement was made after market hours yesterday, 1 December 2016.

Coal India and its subsidiaries achieved 93% of targeted production at 50 million tonnes in November 2016. The company achieved 97% of targeted offtake at 48.16 million tonnes in November 2016. The announcement was made after market hours yesterday, 1 December 2016.

Tata Motors announced that its passenger and commercial vehicle total sales (including exports) in November 2016 were at 38,900 units, almost flat compared with 38,918 vehicles sold in November 2015. The announcement was made after market hours yesterday, 1 December 2016.

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PSU OMCs in spotlight after fuel price revision
Dec 01,2016

Stocks of public sector oil marketing companies (PSU OMCs) will be in focus after announcing a revision in petrol and diesel prices with effect from midnight of 30 November/1 December 2016. Indian Oil Corporation (IOCL) yesterday, 30 November 2016, announced an increase in the price of petrol by Rs 0.13 per litre (excluding state levies) and a decrease in the price of diesel by Rs 0.12 a litre (excluding state levies). The movement of prices in the international oil market and rupee-dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, IOCL said.

Shares of auto companies will be in focus as companies start unveiling monthly sales volume data for November 2016 from today, 1 December 2016.

Wipro announced that it has signed an agreement for divestment of its EcoEnergy division viz. Wipro EcoEnergy on slump sale basis, for a consideration of $70 million. The buyer is Chubb Alba Control Systems (Chubb Alba), an indirect subsidiary of United Technologies Corporation (UTC). The sale is expected to be closed in early 2017, subject to requisite approvals. The announcement was made after market hours yesterday, 30 November 2016.

RBL Bank announced that the Reserve Bank of India (RBI), vide its letter dated 30 November 2016, has granted in-principle approval for opening of international financial services centre banking unit at Gujarat International Finance Tech-City (GIFT), Gujarat. The announcement was made after market hours yesterday, 30 November 2016.

Reliance Communications (RCom) announced that Moodys Investors Service, Inc (Moody) has affirmed B2 corporate family rating and senior secured bond rating given to the companys subsidiary Global Cloud Xchange (GCX). Moody has affirmed the rating to GCX on the heels of announcing the deployment of its Cumulous Network, a major step forward in provisioning next generation connectivity services to support digital transformation and economic growth across India and the emerging markets. The announcement was made after market hours yesterday, 30 November 2016.

Sagar Cements announced that a meeting of the securities allotment committee of the board will be held on 5 December 2016, to consider the allotment of 6.11 lakh shares on a preferential basis to the persons forming part of promoter as well as non-promoter group, as earlier approved by the companys shareholders. The announcement was made after market hours yesterday, 30 November 2016.

Ratnamani Metals & Tubes net profit fell 13.8% to Rs 28.53 crore on 23.83% decline in net total income from operations to Rs 336.03 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 30 November 2016.

Geojit BNP Paribas Financial Services announced that BNP Paribas S A, notified the company that they acquired control of Sharekhan on 23 November 2016.Consequent to the acquisition, Franciska Decuypere and Jean Philippe Huguet nominees of BNP Paribas S A, resigned from the board of directors of the company effective close of business hours of 25 November 2016 and 23 November 2016 respectively. The resignation is in accordance to the terms of restated shareholders agreement entered between the company, BNP Paribas S A, its affiliate and the initial promoters of the company dated 22 January 2016. The announcement was made after market hours yesterday, 30 November 2016.

Hinduja Ventures announced that the committee of directors approved disinvestment of 1.75 crore equity held by the company in Hinduja Energy (India) as per independent valuation of Rs 31.58 per share to third party. The announcement was made after market hours yesterday, 30 November 2016.

The board of directors had approved disinvestment of 1 lakh equity shares held in Induslnd Media and Communications (IMCL) (0.13% of the paid up equity capital of IMCL), unlisted material subsidiary of the company for total consideration amounting to Rs 4.66 crore at a price of Rs 466 per share to a third party, based on IMCL equity valuation of Rs 3444.06 crore as per independent valuation by third party. The holding of the company in IMCL after disinvestment will reduce to 4.46 crore equity shares or 60.43% of the paid up equity share capital of IMCL.

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Tata Power in focus after turnaround in Q2 results
Nov 30,2016

Tata Power Company reported consolidated net profit of Rs 336.24 crore in Q2 September 2016, compared with net loss of Rs 95.87 crore in Q2 September 2015. Total income declined 3.5% to Rs 7311.82 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 29 November 2016.

Lupin announced that its US subsidiary Lupin Pharmaceuticals Inc (LPI) has received final approval for its Armodafinil tablets 50mg, 150mg, 200mg and 250mg from the United States Food and Drug Administration (USFDA) to market a generic version of Cephalon, Incs Nuvigil tablets. LPI shall commence promoting the product in the US shortly. Lupins Armodafinil tablets are the AB rated generic equivalents of Cephalon, Incs Nuvigil tablets. Armodafinil tablets are indicated to improve wakefulness in adult patients with excessive sleepiness associated with obstructive sleep apnea (OSA), narcolepsy or shift work disorder (SWD). Nuvigil tablets had annual US sales of $515.6 million as per IMS MAT September 2016 data. The announcement was made after market hours yesterday, 29 November 2016.

Oil India said that the board of directors of the company in a meeting held on 28 November 2016, accorded approval for voluntary winding up of its wholly owned subsidiary-Oil India International in accordance with the provisions of the applicable laws. The announcement was made after market hours yesterday, 29 November 2016.

JK Paper announced that credit rating agency, India Ratings and Research (IndRa), assigned JK Papers Rs 5 crore term deposit programme rating at IND A-. The outlook is positive. The announcement was made after market hours yesterday, 29 November 2016.

Welspun Enterprises said that National Highways Authority of India (NHAI) has with respect to the concession agreement entered into between Welspun Delhi Meerut Expressway, a wholly-owned subsidiary of the company and NHAI for execution of the project on 4 March 2016, declared the appointed date for the project as 28 November 2016. Under the concession agreement, construction of the project is to be completed within 2.5 years from the appointed date and is to be maintained for 15 years thereafter, post which it will be transferred to NHAI. The project is to develop the existing section of a road in Delhi by six laning and four laning the either side of the expressway on design, build, operate and transfer basis. The announcement was made after market hours yesterday, 29 November 2016.

Eros International Media said that the meeting of board of directors of the company will be held on 2 December 2016, to consider and approve the proposal to raise funds through issue and offer of secured/unsecured, redeemable, non convertible debentures on public/private placement basis, in one or more tranches, upto the limit as may be decided by the board. The announcement was made after market hours yesterday, 29 November 2016.

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Tata Steel in focus after signing pact with Liberty House for sale of UK speciality steel biz
Nov 29,2016

Tata Steel will be in focus. Tata Steel UK announced the signing of a letter of intent with Liberty House Group to enter into exclusive negotiations for the potential sale of its Speciality Steels business for an enterprise value of n++100 million subject to due diligence and corporate approvals. The letter of intent covers several South Yorkshire-based assets including the Rotherham electric arc steelworks, the steel purifying facility in Stocksbridge and a mill in Brinsworth as well as service centres in Bolton and Wednesbury, UK, and in Suzhou and Xian, China. Speciality Steels employs about 1,700 people making steels for the aerospace, automotive and the oil & gas industries. The announcement was made after market hours yesterday, 28 November 2016.

Tata Steel UK has invested n++1.5 billion of capital over the last nine years. The companys boards consider the technical feasibility and economic returns of investments when taking decisions, as well as their affordability. The company is pursuing a transformation plan to create a sustainable future for its UK strip products business. The success of this plan is likely to influence decisions on future investments.

In the current year, the company is pursuing n++85m worth of capital investments covering a range of sustenance and improvement schemes. Tata Steel has recently approved schemes focused on improving manufacturing capability to enable the production of premium steels in Shotton, Llanwern, Trostre, Orb in Newport, and other downstream operations as well as environmental schemes for Port Talbots power plant. Investments in packaging steels, electrical steels, an automotive finishing line, laser welding and next-generation coated products are in line with companys strategy to enhance premium product focus for UK strip products supply chain.

Sun Pharmaceutical Industries (Sun Pharma) announced the launch of BromSite (bromfenac ophthalmic solution) 0.075% in the US market. A nonsteroidal anti-inflammatory drug (NSAID) indicated for the treatment of postoperative inflammation and prevention of ocular pain in patients undergoing cataract surgery, BromSite will be marketed by Sun Ophthalmics, the companys branded ophthalmic business solution. BromSite is the first branded product launched by the company in the US, following its focus on Specialty business. The announcement was made after market hours yesterday, 28 November 2016.

Tata Power Company will be in spotlight. With regard to news article in media titled Fire breaks out at Tata Power Delhi Distributions Badli power house, the company after market hours yesterday, 28 November 2016, issued a clarification to the exchanges. Tata Power said that on 27 November 2016, there was a fire incident in the area next to the boundary wall of the Tata Power Delhi Distribution (TPDDL) Badli grid. There were nearly 76 drums of 66 KV cables which were stored by a vendor/contractor for project work. 46 cable drums were damaged while 30 cable drums were quickly shifted and saved. The cable belonged to the vendor who had stored/kept it in the grid till it was installed. The cables are insured by the vendor and there is no impact on TPDDL. TPDDL senior officials were there at the site. There was no impact on the grid and grid is safe and supply to TPDDLs consumers was not impacted. The reason for the fire is being investigated and suitable corrective action will be taken based on the fact finding report, Tata Power said.

Timken Indias net profit rose 41.11% to Rs 29.86 crore on 7.26% rise in net total income from operations to Rs 296.75 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 28 November 2016.

Triveni Engineering & Industries consolidated net profit jumped 205.53% to Rs 67.92 crore on 49.69% rise in total income from operations to Rs 675.51 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 28 November 2016.

Mahanagar Gas net profit rose 40.88% to Rs 102.24 crore on 3.11% decline in total income from operations to Rs 574.18 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 28 November 2016.

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Aurobindo Pharma in spotlight on pact with Teva in France
Nov 28,2016

Aurobindo Pharma said that its French subsidiary Arrow Generiques SAS, announced the signing of an agreement to acquire select commercial products in France from Teva. Arrow Generiques will acquire the right, title and interest in products calcium and calcium vitamin D3, including the use of the OROCAL trademark. The transaction is subject to the approval of the European Commission. Following receipt of clearances from European authorities, Arrow Generiques will integrate these products with its existing commercial operations in France, and focus on maximizing their potential. Arrow Generiques and Teva intend to ensure continuity of the supply of the products to the market. This acquisition will enable Arrow Generiques to continue to increase its branded products portfolio and leverage its position as a key player in the drug market. Arrow Generiques is a pharmaceutical company with focus on selling generics on the retail and hospital markets in France since 2002. The announcement was made after market hours on Friday, 25 November 2016.

Bharti Airtel announced on Saturday, 26 November 2016 that Bharti Airtel International (Netherlands) BV through its wholly owned subsidiary (Airtel), has completed the acquisition of Econet Wireless entire 4.2% shareholding in Airtel Nigeria. As a result, Airtels overall holding in Airtel Nigeria has increased to 83.25%.

Reliance Industries (RIL) will be in focus. In its clarification with regard to news item titled n++Two killed, six injured in fire at Reliance refineryn++, the company after market hours on Friday, 25 November 2016 said there was an unfortunate flash fire in one of the units under a planned maintenance shutdown in its DTA refinery at Jamnagar. While the Reliance fire brigade extinguished the fire swiftly, this has resulted in injuries to 8 contract workers, who are being provided necessary medical treatment. Inspite of timely medical help provided by Reliance medical staff, unfortunately two of them succumbed to their injuries. All operations of the refinery continue to be normal, RIL said.

Engineering and construction major L&T announced that its wholly owned subsidiary, L&T Hydrocarbon Engineering unveiled a high-tech spool base facilities at L&Ts fabrication facility at Kattupalli in Chennai on 25 November 2016. These facilities are being employed to execute a prestigious lump sum turn key (LSTK) contract that has been bagged from ONGC for a subsea installation by a consortium of J. Ray Mc Dermott S.A., Berlian McDermott & L&T Hydrocarbon Engineering in international competitive bidding. The announcement was made after market hours on Friday, 25 November 2016.

Bosch said that based on the proposal and action plan submitted by the company, the Rajasthan State Pollution Control Board has vide its letter dated 24 November 2016, extended the abeyance order revoking the consent given to operate the companys jaipur plant for further period of three weeks upto 17 December 2016. The company would co-operate with the authorities for early resolution of the matter, Bosch said. The announcement was made after market hours on Friday, 25 November 2016. It may be recalled that the Jaipur plant of Bosch was served with an order dated 27 October 2016 by Rajasthan State Pollution Control Board revoking the consent given to operate the jaipur plant for alleged non-fulfillment of certain conditions with respect to waste water treatment and re-use of the treated water. The company, had therefore, closed the operations at the plant from 28 October 2016. Bosch at that time had put the estimated production loss at about Rs 2.5 crore per day due to closure of operations at the said plant. Jaipur plants license was valid up to 28 February 2017, the company had said at that time.

Tata Steel announced that the company at its meeting held on Friday, 25 November 2016, decided to convene an extraordinary general meeting (EGM) on 21 December 2016, pursuant to the special notice & requisition dated 10 November 2016, received from Tata Sons, promoter and principal shareholder of the company, holding 29.75% of the paid-up ordinary share capital of the company, to consider and if thought fit, to pass the resolutions viz. removal of C. P. Mistry as director of the company and removal of Nusli N. Wadia as director of the company. The announcement was made after market hours on Friday, 25 November 2016.

Vedanta announced that the company proposes to offer rated secured redeemable non-convertible debentures aggregating upto Rs 500 crore and in this regard, the company is holding a meeting of its duly constituted committee of the board on 30 November 2016. The announcement was made after market hours on Friday, 25 November 2016.

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