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State Trading Corporation of India announces change in directorate
Nov 11,2016

State Trading Corporation of India announced that Ministry of Commerce & Industry vide its office order dated 02 November 2016 has conveyed the appointment of Dr. Inder Jit Singh, Additional Secretary, Department of Commerce as Director on the Board of STC vice Ajay Kumar Bhalla. Accordingly, Ajay Kujmar Bhalla ceased to be Director from the Board w.e.f. 02 November 2016.

The Company has further informed that Dr. Inder Jit Singh, Additional Secretary, Department of Commerce has been appointed as Part-time Official Director on the Board of STC w.e.f. 10 November 2016

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Universal Cables announces appointment of CFO and compliance officer
Nov 11,2016

Universal Cables has appointed Pankaj Gupta, Chief Financial Officer and whole-time Key Managerial Personnel as the additional Compliance Officer for the purpose of Regulation 30(5).

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Mobile payment transaction volume to rise manifold to reach 153 billion by FY22: Study
Nov 11,2016

The mobile payment transaction volume in India is likely to witness exponential compounded annual growth rate (CAGR) of over 90 per cent to reach 153 billion by FY 2022 as against a meagre about 3 billion in FY 2016, noted a recent ASSOCHAM-RNCOS joint study.

n++Mobile payment transaction value in India is also likely to register over 150 per cent CAGR and cross Rs 2,000 trillion by FY 2022 from just over Rs 8 trillion as of FY 2016,n++ noted the study titled Indian M-wallet market, jointly conducted by ASSOCHAM and research firm RNCOS.

n++The digital payment sector might register unprecedented growth thereby replacing traditional cards and cash as the primary payment method over the next several years but what is required is to make such systems more foolproof,n++ said Mr D.S. Rawat, secretary general of ASSOCHAM.

n++Flagship government initiatives such as Digital India together with union governments announcement about demonetising Rs 500 and Rs 1000 denomination notes will act as key catalysts and enablers of this transformation more so with ever-increasing internet and mobile penetration as adoption of digital payments is all set to witness a massive surge in the coming years,n++ said Mr Rawat.

n++With over one billion mobile subscribers, India has a promising potential for internet on mobile, and the same is expected for payments and business transactions on mobile,n++ he added.

Mobile banking segment contributed largest share of 49 per cent in Indian mobile payment market with over 386 million transactions worth Rs 4,000 billion in FY16, with majority being money transfers, the study noted.

Besides, share of mobile banking in M-payment market has increased tremendously from eight per cent in FY14 to 49 per cent in FY16.

However, mPOS (mobile point of sale) has the largest market share of 66 per cent in volume terms in FY16 which has fallen down from the level of 85 per cent in FY14 owing to significant number of people shifting to mobile banking for convenience and to avoid carrying various cards.

The study also highlighted that mPOS segements share in mobile payment is likely to fall further and by FY22, share of mobile banking is likely to rise to 14 per cent in terms of volume.

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Board of Prakash Constrowell approves acquisition & scheme of arrangement
Nov 11,2016

The Board of Prakash Constrowell at its meeting held on 10 November 2016 approved the following -

Investment by way of acquisition of 100% equity share capital of Bhumit Real Estate.

Approved scheme of arrangement involving demerger of specified undertaking of the Company (Demerged Company) into Bhumit Real Estate (Resulting Company).

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Adani Ports & Special Economic Zone provides update on proposed foreign currency denominated bonds issue
Nov 11,2016

Adani Ports and Special Economic Zone announced that pursuant to the powers delegated to the Finance Committee by the Board of Directors of Adani Ports and Special Economic Zone (the Company), the Finance Committee has approved the preliminary offering circular in relation to a proposed issuance of foreign currency denominated bonds by the Company.

Further, the Company has appointed intermediaries for organizing investor meetings for the proposed foreign currency denominated bonds issue. The foreign currency denominated bonds offering may follow, subject to market conditions.

The Company has been rated Baa3 by Moodys, BBB- by S&P and BBB- by Fitch and expects the same ratings for its foreign currency denominated bonds.

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Sun Pharma may gain on strong Q2 results
Nov 11,2016

Sun Pharmaceutical Industries consolidated net profit surged 117.25% to Rs 2235.14 crore on 19.98% rise in total income to Rs 8384.52 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 10 November 2016.

Dilip Shanghvi, Managing Director of Sun Pharmaceutical Industries said that the synergies from the Ranbaxy acquisition are gaining momentum and the company is on track to achieve the targeted benefits. These synergies will continue to help in funding emerging specialty businesses. Post the close of Q2 September 2016, the company has further strengthened its branded ophthalmic pipeline through the acquisition of Ocular Technologies.

BPCL and Mahindra & Mahindra (M&M) will announce Q2 results today, 11 November 2016.

Cipla said before market hours today, 11 November 2016, that as part of its growth strategy, the board of the companys subsidiary, Cipla Quality Chemicals Industries (CiplaQCIL) is evaluating its initial public offering. The certain shareholders may consider selling down part or all of their stake to enable sufficient free flat and liquidity while Cipla group intends to continue holding the majority stake and control in CiplaQCIL.

Tata Motors said that its group global wholesales rose 9% to 1.01 lakh units in October 2016 over October 2015. The announcement was made after market hours yesterday, 10 November 2016. Global wholesales of all Tata Motors commercial vehicles and Tata Daewoo range rose 18% to 36,921 units in October 2016 over October 2015. Global wholesales of all passenger vehicles rose 4% to 64,145 units in October 2016 over October 2015.

Apollo Tyres signed a memorandum of understanding (MoU) with the Government of Andhra Pradesh government to set up a state of art manufacturing facility. The company is looking at investing about Rs 525 crore towards setting up this facility in Andhra Pradesh. The announcement was made after market hours yesterday, 10 November 2016.

NHPC said that the board of directors of the company in its meeting scheduled to be held on 18 November 2016, will consider the proposal for raising of Rs 2250 crore through issuance of n++Vn++ series corporate bonds on private placement basis. The proposed issue is out of Rs. 4500 crore already approved by the shareholders in their 40th Annual General Meeting held on 22 September 2016. The announcement was made after market hours yesterday, 10 November 2016.

Shoppers Stop said that the company has closed Shoppers Stop stores at Inorbit Mall-Pune and Nirmal Lifestyle-Mulund, due to lower than expected businesses and its low profitability. During the last financial year, sales from Inorbit Mall-Pune was Rs 24.91 crore which is 0.66% of the turnover of the company and sales from Nirmal Lifestyle - Mulund was Rs 16.67 crore which is 0.44% of the turnover of the company. With these closures, the company has now 81 n++Shoppers Stopn++ (including six airport stores) stores under its operations. And also, inform that our 51% subsidiary company; Hypercity Retail (India); has closed n++Hypercityn++ store at Inorbit Mall-Pune due to lower than expected business and its low profitability. The sale from this store for the last financial year was Rs 13.27 crore which is 1.40% of the turnover of the Hypercity. With the closing of this store, there are now 19 Hypercity stores. The announcement was made after market hours yesterday, 10 November 2016.

Jain Irrigation Systems reported consolidated net profit of Rs 28 crore in Q2 September 2016 compared with consolidated net loss of Rs 5.4 crore in Q2 September 2015. Total income rose 8.69% to Rs 1464.60 crore in Q2 September 2016 over in Q2 September 2015. The result was announced after market hours yesterday, 10 November 2016.

IFB Agro Industries announced after market hours yesterday, 10 November 2016, that West Bengal Excise Authority has increased the excise duty on Country Liquor (IMIL) with effect from 8 November 2016 vide notification dated 28 October 2016. Accordingly the company has increased the prices of its IMIL brands with requisite approval from West Bengal Excise Authority with effect from 9 November 2016.

Wockhardts consolidated net profit dropped 81.59% to Rs 17.02 crore on 6.53% rise in total income to Rs 1284.59 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 10 November 2016.

Wockhardt said that the board of directors of the company, at a meeting held on 10 November 2016, approved the acquisition of 100% stake in Wockhardt France (Holdings) S.A.S. (WFH) (an existing step down subsidiary of the company) from Wockhardt Bio AG (WBG), a subsidiary of the company. By virtue of the said acquisition, WFH shall become a direct wholly owned subsidiary of the company from erstwhile step down subsidiary. WBG continues to be a direct subsidiary of the company.

Tata Chemicals consolidated net profit rose 0.08% to Rs 293.04 crore on 17.35% decline in total income to Rs 3522.29 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 10 November 2016.

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Outcome of board meeting of Kandagiri Spinning Mills
Nov 10,2016

Kandagiri Spinning Mills announced that the Board of Directors of the Company at its meeting held on 10 November 2016 has approved the postal ballot for seeking approval of shareholders for sale of Companys windmill assets and other assets.

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Board of Microsec Financial Services approves change in registered office
Nov 10,2016

Microsec Financial Services announced that the Board of Directors of the Company at its Meeting held on 10 November 2016, inter alia, transacted the following :

The Board of Directors of the Company has approved the change of place of Registered office from Shivam Chambers, 1st Floor, 53 Syed Amir Ali Avenue, Kolkata - 700019 to Azimganj House, 2nd Floor, 7 Camac Street, Kolkata - 700017 w.e.f. 11 November 2016.

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TGB Banquets & Hotels Board to consider September quarter results
Nov 10,2016

TGB Banquets & Hotels announced that a meeting of the Board of Directors of the Company will be held on 14 November 2016, inter alia, to consider and approve the Unaudited Financial Results of the Company for the quarter and half year ended on 30 September 2016.

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Blue Star announces change in Chairman
Nov 10,2016

Blue Star announced that Ashok M Advani will retire as Chairman of the Board with effect from 30 November 2016. Suneel M Advani, Vice Chairman has been elevated to the position of Chairman with effect from 01 December 2016.

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Blue Circle Services announces change in directorate
Nov 10,2016

Blue Circle Services announced that Vandana N. Sahu, Non-Executive, Independent Director of the Company, has resigned from the Directorship of the Company w.e.f. 28 October 2016 and in her place, Amita John Cannel has been appointed as Additional Director, (Independent) of the Company with effect from 28 October 2016 and will hold the office till conclusion of next Annual General Meeting.

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Wockhardt to pay interim dividend
Nov 10,2016

Wockhardt announced that interim dividend will be paid from 25 November 2016.

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L&T Technology Services to pay interim dividend
Nov 10,2016

L&T Technology Services announced that interim dividend will be paid/dispatched on or before 30 November 2016.

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Board of Wockhardt declares interim dividend
Nov 10,2016

Wockhardt announced that the Board of Directors of the Company at its meeting held on 11 November 2016, inter alia, have transacted the following :

1. Declared an Interim Dividend of Rs. 10 per Equity Share of face value of Rs. 5/- each i.e. @ 200 % for the Financial Year 2016-17. The payment of said Interim dividend shall commence from 25 November 2016.

2. Inducted Vinesh Kumar Jairath, as Additional Director (Non- Executive, Independent) w.e.f. 10 November 2016.

3. Approved issuance of postal ballot notice to the shareholders pertaining to revision in remuneration of Whole Time Directors.

4. Approved issuance of Unsecured Masala Bonds, subject to requisite approval, if any, for an amount not exceeding US$ 200 million.

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Board of L&T Technology Services declares interim dividend
Nov 10,2016

L&T Technology Services announced that the Board of Directors of the Company at its meeting held on 10 November 2016 have declared an Interim Dividend of Rs. 3/- per equity shares. The Interim Dividend will be paid/dispatched on or before 30 November 2016.

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