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Axis Bank reviews MCLR rates
Mar 16,2017

Axis Bank has reviewed and decided to keep the MCLRs of the Bank unchanged. This will be effective from 18 March 2017.

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Marico commences commercial production at its 2nd plant in Guwahati
Mar 16,2017

Marico announced that the Companys new plant situated in Guwahati, Assam set up to manufacture value added personal care products has successfully commenced its commercial production on 16 March 2017.

This is the second plant of the Company in Guwahati which is now operational. The first plant, manufacturing value added hair oils commenced operations on 27 May 2016.

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Megasoft bags contract from Bihar State Electronics Development Corporation
Mar 16,2017

Megasoft announced the award of cloud-enabled solution & services contract by the Bihar State Electronics Development Corporation. The state Government of Bihar, through BELTRON, plans to establish state-of-the-art cloud computing facility for use by its various e-Governance programs and other IT-driven initiatives.

The cloud-enabled State Data Centre (SDC) named Bihar Cloud is one of the important elements for supporting initiatives of National e-Governance Plan (NeGP). The primary purpose of the cloud computingsolution is to establish a viable Private cloud environment for use by the various e-Governance applications of Bihar.

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Corporation Bank to issue Basel III compliant AT-1 Bonds worth Rs 500 crore
Mar 16,2017

Corporation Bank is issuing BASEL III Compliant AT-1 Bonds (Series II) aggregating Rs 500 crore on private placement basis.

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Union Bank of India gets ratings assigned for proposed AT-I bonds issue of Rs 1500 crore
Mar 16,2017

Union Bank of India announced that Brickwork Ratings India has assigned BWR AA+/Stable rating to the Banks proposed fresh issue of Basel III compliant Additional Tier 1 bonds of Rs.1500 crore.

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Union Bank of India decides to issue AT-1 Bonds aggregating Rs 250 cr
Mar 16,2017

Union Bank of India has decided to issue Additional Tier 1 Basel III compliant bonds of Rs.250 crore in favor of Prime Ministers National Relief Fund.

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Somany Ceramics gets revision in credit ratings
Mar 16,2017

Somany Ceramics announced that CRISIL has upgraded its rating for the Company as follows:

Long- Term Rating - CRISIL AA-/ Stable (Upgraded from CRISIL A+/Positive)

Short Term Rating - CRISIL A1+ (Reaffirmed)

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Techno Electric & Engineering Company transfers wind power assets to subsidiary
Mar 16,2017

Techno Electric & Engineering Company announced that the Company has transferred 12 MW Wind Power assets situated in the state of Karnataka to its wholly owned subsidiary company, Simran Wind Project against issue of shares in the subsidiary company. The effective valuation of the said assets is Rs 45.64 crore.

Post this transfer, the Company does not hold any wind assets in its portfolio and the wind power assets of its subsidiary, Simran Wind Project has increased to 129.9 MW.

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Aditya Birla Nuvo temporarily shut downs Ammonia and Urea plants
Mar 16,2017

Aditya Birla Nuvo has temporarily shut down its Ammonia/ Urea plants at Jagdishpur, Uttar Pradesh from 17 March 2017 for the purpose of the planned maintenance program for annual turnaround. The plants are expected to resume operations from 10 April 2017.

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Kingfa Science & Technology (India) finalises Rights Issue programme
Mar 16,2017

Kingfa Science & Technology (India) announced that the Rights Issue Committee at its meeting held on 16 March 2017 has finalised the issue programme as under -

Rights issue opening date - 27 March 2017
Rights issue closing date - 10 April 2017

Last date for request for split application forms - 03 April 2017

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Rane Holdings completes divestment of stake in SasMos
Mar 16,2017

Rane Holdings announced that the divestment of equity stake in SasMos HET Technologies has been completed with closing date as 16 March 2017. Consequently, the Company has exited SasMos with effect from 16 March 2017.

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K P R Mill commissions state-of-the-art Processing Unit with Cold Processing Technology
Mar 16,2017

K P R Mill has commenced the operations of the State of the Art Processing Unit II. The advanced technology of cold processing adopted therein reduces the water consumption by 30% and eliminates the usage of Salt completely. This eco - friendly facility will economise the cost of production and enhance the Fabric quality with excellent colour uniformity. This new unit will further add value to the Garment Division.

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IndusInd Bank allots 34,570 equity shares
Mar 16,2017

IndusInd Bank has allotted 34,570 (Thirty Four Thousand Five Hundred Seventy) equity shares of Rs. 10/- (Rupees Ten Only) each on 16 March 2017 to those grantees who had exercised their option under the Companys Employee Stock Option Scheme. The said shares will rank pari-passu with the existing shares of the Company in all respect.

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IDBI Bank gets ratings revision for Tier II Bonds
Mar 16,2017

IDBI Bank has received from CARE, the rating for Banks Lower Tier II Bonds amounting to Rs 50 crore has been revised to AA- from AA.

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G M Breweries to hold board meeting
Mar 16,2017

G M Breweries will hold a meeting of the Board of Directors of the Company on 6 April 2017 Quarterly Results

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