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JSW Energy will be watched on plan to raise funds
Dec 23,2016

JSW Energy said that its board will meet on 27 December 2016, to consider raising long term funds through the issuance of non-convertible debentures by way of a private placement. The announcement was made after market hours yesterday, 22 December 2016.

Hinduja Ventures said that its board of directors has approved the disinvestment of 4.36 crore equity shares of Rs 10 each held by the company in Hinduja Energy (India), in tranches, as per independent valuation of Rs 31.58 per share to third party. The announcement was made after market hours yesterday, 22 December 2016.

Suzion Energy announced a joint venture with the AMP Solar for the development and construction of a 15 megawatts (MW) solar pv project located at Achampet in Telangana. According to the contract signed between Suzlon Energy and the AMP Solar on 21 December 2016, the AMP Solar shall acquire a 49% stake in Rudra Solarfarms, a special purpose vehicle (SPV) set up by Suzlon for executing this project. AMP Solar has the option to acquire the balance of the 51% stake in the SPV in the future in accordance with the relevant rules and regulations. The off taker of the SPV project will be the Telangana State Southern Power Distribution Company (TSSPDCL). Suzion will be responsible for project commissioning and to provide comprehensive operation and maintenance services for a period of 25 years. The project is expected to be commissioned in the financial year 2017 (FY 2017). Suzlon won solar projects of 210 MW in Telangana through a competitive bidding process and the power purchase agreements (PPAs) for the same were signed in February 2016. These include one project of 100 MW, one of 50 MW and four projects of 15 MW each. The announcement was made after market hours yesterday, 22 December 2016.

Voltamp Transformers said that few of contract workmen at the companys Savli factory situated at Village Vadadala in Vadodara, Gujarat resorted to violent act on 20 December 2016 with the companys production supervisors, outside factory premise. The company suspended Savli factory operations effective from 21 December 2016 to ensure safety and security of the companys employees and property. However, operations at the companys Makarpura factory situated at Vadodara, Gujarat are totally normal. The announcement was made after market hours yesterday, 22 December 2016.

Karnataka Bank said it opened its 738th branch at Thakurli in Thane district on 22 December 2016.

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South Indian Bank in focus after board approves rights issue of shares
Dec 22,2016

South Indian Bank said that its board approved rights issue of equity shares to shareholders. The bank will issue one equity share at Rs 14 each for every three equity shares held (1:3). The announcement was made after market hours yesterday, 21 December 2016.

JSW Steel said it has fixed 5 January 2017 as the record date for the proposed 10-for-1 stock split. The announcement was made after market hours yesterday, 21 December 2016.

Vardhman Textiles said that its proposed buyback offer will open on 4 January 2017 and close on 17 January 2017. The company proposes to buyback 62.60 lakh equity shares at Rs 1,150 each. The announcement was made after market hours yesterday, 21 December 2016.

KDDL announced that the committee for preferential issue of zero coupon convertible warrants-2016, at its meeting held yesterday, 21 December 2016, allotted 2.64 lakh zero coupon convertible warrants each convertible into one equity share at Rs 265 per share, to Swades Capital LLC, a promoter group entity. The announcement was made after market hours yesterday, 21 December 2016.

Future Enterprises announced that the committee of directors of the company at its meeting held yesterday, 21 December 2016, allotted 270, 9.5% secured redeemable non-convertible debentures (NCDs) and 180, 9.55% secured redeemable NCDs of face value of Rs 10 lakh each aggregating to Rs 45 crore, on private placement basis. The announcement was made after market hours yesterday, 21 December 2016.

SREI Infrastructure Finance announced that Srei Equipment Finance, a material subsidiary of the company, on 21 December 2016 filed prospectus with BSE and the National Stock Exchange of India towards its public issue of 25 lakh secured redeemable non-convertible debentures of face value of Rs 1,000 each for an amount upto Rs 250 crore with an option to retain over subscription upto Rs 500 crore. The issue will open for subscription on 3 January 2017 and close on 20 January 2017. The announcement was made after market hours yesterday, 21 December 2016.

Nitesh Estates said it redeemed 700 non-convertible debentures (unlisted NCD) out of 1,250 non-convertible debentures held by IDFC for the aggregate value of Rs 70 crore. The announcement was made after market hours yesterday, 21 December 2016.

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SBI to be watched after shareholders approve fund raising plan
Dec 21,2016

State Bank of India announced after market hours yesterday, 20 December 2016, that its shareholders approved the proposal to raise capital through the issue of preferential shares to the government. They also gave an in-principle nod to additional fund raising by way of a public issue, should the bank need to tap the markets.

According to a notification issued to stock exchanges, shareholders approved a preferential issue of shares for upto Rs 5681 crore to the Government of India. This is part of the governments capital infusion plan into the lender.

Separately, shareholders also approved fund raising upto a limit of Rs 15000 crore via a public issue. This fund raising could be in the form of a follow-on public offer (FPO) or private placement through a qualified institutional placement (QIP) or through other means such as American Depository Receipts (ADRs) or Global Depository Receipts (GDRs). Any such public fund raising would be subject to the condition that the governments shareholding in SBI does not fall below 52%.

Bharti Airtel announced after market hours yesterday, 20 December 2016, that its subsidiary Network 12i has entered into a definitive agreement with Orascom Telecom Media and Technology Holding S.A.E (n++Orascomn++) to acquire Orascoms entire equity stake in Middle East North Africa Company Submarine Cable Systems S.A.E (n++MENA-SCSn++). The acquisition is subject to requisite regulatory approvals.

MENA-SCS is a 100% subsidiary of Orascom. MENA - SCS owns and operates a submarine cable network between India and Europe covering Middle East, with options to extend the network to Africa.

The proposed acquisition of MENA-SCS is aimed at further strengthening Airtels global network that currently runs across 225,000 Rkms, covering 50 countries and 5 continents. The additional capacity will enable Airtel to serve the growing demand for data services and enterprise services across its footprint of 18 countries across South Asia and Africa.

Reliance Communications (RCom) said that Fitch Ratings (Fitch), International rating agency, has revised the companys long-term foreign, local currency issuer default ratings and senior secured notes (Notes) ratings from BB- to B+. Fitch has also placed on rating watch negative and assigned a recovery rating of RR4 to the notes. The announcement was made after market hours yesterday, 20 December 2016.

Essel Propack said that it is raising funds of Rs 20 crore through issue of commercial papers (CPs) on private placement basis. Further, the company also said that it has redeemed CPs for Rs 25 crore as per the terms. The announcement was made after market hours yesterday, 20 December 2016.

Oriental Carbon & Chemicals announced that it has commissioned/started the commercial production, ahead of schedule, on 20 December 2016, of the first phase (5,500 metric tonnes per annum capacity) of its project for expansion of insoluble sulphur production capacity at special economic zone (SEZ) at Mundra, Gujarat. The announcement was made after market hours yesterday, 20 December 2016.

Binani Industries said that the consortium of banks to Edayar Zinc, a subsidiary of Binani Industries has appointed an Advocate Commissioner to take possession of the properties mortgaged in favour of the banks and has given a notice to take possession on or after 26 December 2016. Binani Industries said it has been advised that the action is illegal. The company is looking into the matter and is taking suitable legal remedies, it added. The announcement was made after market hours yesterday, 20 December 2016.

Sasken Communication Technologies said that a meeting of the buyback committee of the board of directors of the company will be held on 23 December 2016, to finalize the price at which the shares will be bought back and to fix the record date to ascertain the shareholders who are eligible to participate in the buyback. The outcome of the postal ballot being conducted seeking shareholders approval will also be announced on 23 December 2016. The announcement was made after market hours yesterday, 20 December 2016.

Satin Creditcare Network said that meeting of working committee of the board of director of the company is scheduled to be held on 23 December 2016, for the issuance of non-convertible debentures upto the amount of Rs 15 crore through private placement. The announcement was made after market hours yesterday, 20 December 2016.

Jyoti Structures has received an order from ESKOM, the South African utility, for supply of towers and construction of 765 and 400 kV Masa Ngwedi Transmission line Sec C. The order valued at approximately $15 million is to be executed in 18 months. The project is funded by World Bank. Jyoti is currently executing three contracts for ESKOM in South Africa. Total value of these contracts is approximately $80 million. In the past, the company has satisfactorily completed three major projects for the same client. The announcement was made after market hours yesterday, 20 December 2016.

Seamec said it entered into a charter party agreement with National Petroleum Construction Company for the charter hire of vessel, Hal Supporter, for undertaking a job in West Coast of India. The tenure of the contract is for a firm period of 45 days with option for extension. The contract will likely to continue till end January 2017. For the said contract, the company has taken vessel Hal Supporter from HAL on charter basis. The value of charter during firm period is $171,000. The announcement was made after market hours yesterday, 20 December 2016.

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Cipla in focus on fund raising plan
Dec 20,2016

Drug major Cipla will seek shareholders approval to raise up to Rs 4,000 crore via issue of securities in both domestic and global markets. The company said its board has approved raising funds up to Rs 2,000 crore. It could be via issue of shares or American Depository Receipts (ADRs) or Global Depository Receipts (GDRs) or Foreign Currency Convertible Bonds (FCCBs) or other securities, whether denominated in rupee or foreign currency through a public issue or a private placement, it said.

The board also approved raising of funds up to Rs 2,000 crore by issue of non convertible debentures (NCDs) or bonds, in rupee or foreign currency through a public issue or a private placement, it added. The fund raising is subject to necessary permissions sanctions and approvals and the company is seeking approval of shareholders for the aforesaid enabling resolutions by means of postal ballot, Cipla said. The announcement was made after market hours yesterday, 19 December 2016.

Shares of Tata Group companies will be watched after Cyrus Mistry after market hours yesterday, 19 December 2016, resigned from the boards of all publicly listed companies of the Tata group, including Tata Motors and Indian Hotels, after he was unceremoniously removed as the chairman of Tata Sons on 24 October 2016.

Tata Coffee announced plans to set up a freeze dried coffee plant in Vietnam with an installed capacity of 5000 metric tonnes (MT) per annum. This would be done through a subsidiary of the company to be incorporated. The project is subject to the completion of all legal and other formalities. Estimated project cost is $50 million (approximately Rs 350 crore). This move will further strengthen Tata Coffees growth in the premium instant coffee segment. Tata Coffee already has strong expertise in manufacturing freeze dried coffee at its plant in Theni, Tamil Nadu, which develops blends customized to varied consumer preferences. Freeze dried coffee is a growing segment worldwide in the premium instant coffee segment. Instant Coffee accounts for about 20% of the global coffee consumption with freeze dried instant coffee being the most premium. The plant in Vietnam will serve discerning global customers of Tata Coffee with new product mixes of freeze dried coffee. The announcement was made after market hours yesterday, 19 December 2016.

Wockhardt said that UK Medicines and Healthcare products Regulatory Agency (MHRA) has confirmed that general compliance with the principles and guidelines of Good Manufacturing Practice of the companys manufacturing unit at L-1, Chikalthana, Aurangabad. In view of this, the approval status of the said unit continues. Further, UK MHRA has considered the said manufacturing unit suitable for Risk based Inspection with reduced inspection frequency of 2 years from the existing inspection frequency of 1 year. The announcement was made after market hours yesterday, 19 December 2016.

The Phoenix Mills entered into a share purchase agreement for acquisition of the entire 15.18% stake in its subsidiary Offbeat Developers (ODPL) held by Vistra ITCL (India) and IIRF Holdings X. Further, the company has entered into a share purchase agreement to acquire Eder Rivers entire 4.98% stake in ODPL. Subsequent to the completion of both the aforesaid transactions, the shareholding of The Phoenix Mills in ODPL will increase from 74.48% to 94.64%. The announcement was made after market hours yesterday, 19 December 2016.

Opto Circuits (India) (OCIL) said that the company and its subsidiaries received an order worth Rs 91 crore from Philips Health Care for various products manufactured by the Opto Group of companies. Vinod Ramnani, Chairman & Managing Director of OCIL commented that the latest long term contract helps the company in strengthening its relationship with Philips Health Care. The announcement was made after market hours yesterday, 19 December 2016.

Granules India announced that Granules OmniChem facility, a 50:50 joint venture company of Granules India and Ajinimoto OmniChem N.V., located at Vizag, Andhra Pradesh, completed its first inspection by the United States Food and Drug Administration (USFDA) with seven observations. Granules OmniChem will respond to these observations within the stipulated time period. This facility currently manufactures active pharmaceutical ingredients (API) intermediates.

In the consolidated financial statements, Granules India is accounting only its share of profit/loss from Granules OmniChem as per Ind AS regulations with effect from 1 April 2016, Granules India added. The announcement was made after market hours yesterday, 19 December 2016.

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PSU OMCs in spotlight after fuel price hike
Dec 19,2016

Shares of public sector oil marketing companies (PSU OMCs) will be in focus after announcing a hike in petrol and diesel prices. Indian Oil Corporation (IOCL) on Friday, 16 December 2016, announced an increase in the price of petrol and diesel with effect from the midnight of 16/17 December 2016. Petrol price was hiked by Rs 2.21 per litre and diesel price was raised by Rs 1.79 a litre at Delhi (excluding state levies).

The current level of international product prices of petrol & diesel and rupee-dollar exchange rate warrant increase in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision, IOCL said in a statement. 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, it added.

Laurus Labs debuts on the secondary equity market today, 19 December 2016. The company priced the initial public offer (IPO) at the top end of the Rs 426 - Rs 428 a share price band. The bidding for the IPO opened on 6 December and closed on 8 December 2016. The issue received bids for 10.01 crore shares compared with 2.19 crore shares on offer. The IPO was subscribed 4.57 times.

Axis Bank announced that it has reviewed and decided to reduce its marginal cost of funds based lending rates (MCLR) by 10 basis points (bps) in the overnight tenor and by 15 bps across all other tenors with effect from 17 December 2016. The announcement was made after market hours on Friday, 16 December 2016. The banks MCLR for overnight loans will be 8.55%, for one month will be 8.55% and for three months will be 8.75%. The MCLR on 6-month loans will be 8.85% and for one-year loans the rate would be 8.9%, the bank said. MCLR for two-year loans would be at 8.95% and loans with three-year maturity would carry an MCLR of 9%, the bank said.

NTPC and National Aluminium Company (Nalco) will be in spotlight. Nalco and NTPC have entered into an memorandum of understanding (MoU), for developing power projects and other business collaborations in India. The announcement was made after market hours on Friday, 16 December 2016.

Under the MoU, the companies will float a joint venture namely NTPC-Nalco Power Company(NNPC) to set up power plants. The first such power plant is planned at Gajamara, Odisha with a capacity of 2,400 megawatts (MW) (3X800 MW), at an estimated investment of Rs 14000 crore. The proposed super critical power plant with state-of-the-art technology will supply uninterrupted power to Nalcos smelter at Angul. The process for acquisition of 1,600 acres of land in Gajamara has already commenced.

Speaking on the occasion, Minister of State for power, coal, new & renewable energy and mines, Piyush Goyal highlighted that the joint venture is a win-win situation between Nalco & NTPC. Nalco is planning a brownfield expansion at its aluminium smelter in Angul, with an additional capacity of 5 lakh tonnes per annum, at an estimated capital expenditure (capex) of Rs 10000 crore. The company possesses the required land and other infrastructure for the purpose. The proposed expansion will help the Nalco to achieve economy of scale and substantially reduce its cost of production. This expansion will be taken up immediately by Nalco. Goyal also mentioned that Nalco is also planning to set up a greenfield aluminium smelter project with a capacity of 6 lakh tonnes per annum (TPA) in Kamakhyanagar, Odisha at an estimated investment of Rs l2000 crore.

CEAT announced after market hours on Friday, 16 December 2016, approval of an investment of approximately Rs 2800 crore, spread over a period of five years leading up to financial year 2022. With this investment, CEATs capacity would go up by 1 million tyres per annum for truck bus radials, 17 million tyres per annum for 2-wheelers and 6 million tyres per annum for passenger car radials. The investments are proposed to be funded through a blend of debt and equity.

Additionally, the board has also approved the appointment of Kumar Subbiah as chief financial officer of the company with effect from 16 January 2017 in place of Manoj Jaiswal, who takes over a different responsibility.

JK Lakshmi Cement announced on Saturday, 17 December 2016, that it received shareholders approval to raise up to Rs 500 crore by issuing non-convertible debentures (NCDs) on private placement basis.

Gayatri Projects announced on Saturday, 17 December 2016, that its board of directors will meet on 26 December 2016 to consider 5-for-1 stock split.

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Yes Bank may gain after getting approvals 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.

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 28, 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.

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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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