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Tata Steel in focus after raising funds
Oct 05,2016

Tata Steel announced that the Committee of Directors yesterday, 4 October 2016, allotted 8.15%, Unsecured, Redeemable Non-Convertible Debentures aggregating to Rs 1000 crore, on a private placement basis, to certain identified investors. The announcement was made after market hours yesterday, 4 October 2016.

Yes Bank announced after market hours yesterday, 4 October 2016 that it has successfully raised Rs 2135 crore through senior long term infrastructure bonds. The issue was closed on 30 September 2016 and witnessed strong demand from leading domestic investors resulting in a total subscription of the issue. The issue was subscribed 2.13 times. The bonds will be listed on BSE and were raised at a coupon rate of 8% per annum with a tenor of 10 years. The proceeds will be used to finance long term projects in infrastructure and its allied sub-sectors.

UCO Bank announced that as a part of capital raising plan, a proposal for issue of 7.17 crore equity shares at an issue price to be determined later on preferential basis to Life Insurance Corporation of India is being considered by the banks board. The aforesaid proposal is placed before the board for approval by circulation. The announcement was made after market hours yesterday, 4 October 2016.

HDFC announced that the profit on sale of investments declined 60.41% to Rs 19 crore in Q2 September 2016 over Q2 September 2015. Income from dividend rose 7.29% to Rs 456 crore in Q2 September 2016 over Q2 September 2015. The company, under the loan assignment route sold loans amounting to Rs 1939 crore in Q2 September 2016 to HDFC Bank. HDFC sold loans amounting to Rs 13086 crore in the preceding twelve months. The company is scheduled to announce its Q2 September 2016 results on 26 October 2016. The announcement was made after market hours yesterday, 4 October 2016.

Shriram City Union Finance announced that it intends to raise funds through allotment of 1,000 secured non-convertible redeemable debentures aggregating to Rs 100 crore on private placement basis. The announcement was made after market hours yesterday, 4 October 2016.

AstraZeneca Pharma India clarified after market hours yesterday, 4 October 2016 with respect to news item titled Embassy buys 10 acre land in Bengaluru for Rs 255 crore that it has not sold any of its land held by it and that the news item does not pertain to the company.

Mahindra CIE Automotive after market hours yesterday, 4 October 2016 in its clarification with respect to news item titled Mahindra CIE amongst others interested in Amtek Autos overseas assets, has denied any such negotiations.

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Banking, auto and realty stocks to be watched ahead of RBI policy meeting
Oct 04,2016

Interest rate sensitive banking, auto and realty stocks will be watched ahead of the Reserve Bank of Indias (RBI) monetary policy meeting today, 4 October 2016. Purchases of automobiles, including that of cars, utility vehicles and commercial vehicles are substantially driven by financing. Purchases of both residential and commercial property are largely driven by finance. The latest monetary policy meeting will be the first meet where the interest rate decision is taken by a panel. Urjit Patel, the RBI governor, will be one among the six-member Monetary Policy Committee (MPC) recently notified by the government. The central bank had left its benchmark repo rate unchanged at 6.5% in its last meeting.

Hero MotoCorps total sales rose 11% to 6.74 lakh units in September 2016 over September 2015. The company registered highest ever sales in any month so far in September 2016. The announcement was made after market hours yesterday, 3 October 2016. The growth momentum was backed by a series of positive factors such as the successful market launch of the Splendor iSmart 110; augmented leadership in the 125 cc segment with the Glamour, emerging as the largest- selling 125 cc motorcycle in the country and the positive trend maintained by the new scooter portfolio.

Jubilant FoodWorks after market hours yesterday, 3 October 2016, announced a unique pizza combo for the Navratras. The latest innovative offering by the company includes a 100% Vegetarian Pizza, Sago Pudding and Sabudana Crispies. During Navratras, Dominos Pizza will convert 459 of its 1,062 restaurants to All-vegetarian restaurants from 1 October 2016 till 10 October 2016. All the identified restaurants will serve the new Navratri Combo along with the other vegetarian items on the menu for the period. The menu will be available for dine-in as well as delivery (offline and online delivery).

Wockhardt announced that US Food and Drug Administration (USFDA) on 30 September 2016 excluded the product Ceftriazone Sodium from import alert 66-40 announced by USFDA on the companys active pharmaceutical ingredients (API) unit at Ankleshwar, Gujarat on 8 August 2016. This will enable the company to manufacture and sell Ceftriazone API and formulation to US market. The announcement was made after market hours yesterday, 3 October 2016.

Ahluwalia Contracts (India) announced that Pushpa Rani, one of the promoter of company gifted 2.45 lakh equity shares of company to her relative and brother, Bikramjit Ahluwalia, promoter of the company. The announcement was made after market hours yesterday, 3 October 2016.

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Auto stocks in spotlight after announcing monthly sales data
Oct 03,2016

Tata Motors announced on Saturday, 1 October 2016 that Tata Motors passenger and commercial vehicle sales (including exports) rose 8% to 48,648 units in September 2016 over September 2015. The companys domestic sales of Tata commercial and passenger vehicles rose 5% to 42,961 units in September 2016 over September 2015. Exports surged 29% to 5,687 units in September 2016 over September 2015.

Maruti Suzuki India (MSIL) announced on Saturday, 1 October 2016 that its total sales jumped 31.1% to 1.49 lakh units in September 2016 over September 2015. Domestic sales surged 29.4% to 1.37 lakh units in September 2016 over September 2015. Exports jumped 54% to 11,822 units in September 2016 over September 2015.

Mahindra & Mahindra (M&M) announced on Saturday, 1 October 2016 that its auto sales rose 8% to 46,130 units in September 2016 over September 2015. Domestic sales rose 7.18% to 42,545 units in September 2016 over September 2015. Exports increased by 14% to 3,585 units in September 2016 over September 2015.

Eicher Motors announced on Saturday, 1 October 2016 that its motorcycle division reported a 30% jump in total sales at 57,842 units in September 2016 over September 2015. Exports rose 18% to 884 units in September 2016 over September 2015.

Separately, Eicher Motors announced on Saturday, 1 October 2016 that VE Commercial Vehicles (VECV) reported a 14% increase in total sales at 4,843 units in September 2016 over September 2015.

Ashok Leyland announced on Saturday, 1 October 2016 that its total sales declined 18% to 12,057 units in September 2016 over September 2015. Sales of medium & heavy commercial vehicles (M&HCV) declined 26% to 8,963 units in September 2016 over September 2015. Light commercial vehicles (LCV) sales rose 17% to 3,094 units in September 2016 over September 2015.

State Bank of India (SBI) announced on Saturday, 1 October 2016 that the Government of India (GoI) vide notification dated 1 October 2016, extended the tenure of Arundhati Bhattacharya as Chairman of SBI for a period of one year with effect from 7 October 2016 or until further orders, whichever is earlier.

Shares of public sector oil marketing companies (PSU OMCs) will be in focus after announcing revision in petrol and diesel prices with effect from the midnight of 30 September 2016. Indian Oil Corporation (IOCL) on Friday, 30 September 2016, announced an increase in the price of petrol by Rs 0.28 per litre and diesel price was decreased by Rs 0.06 a litre at Delhi (including state levies) with corresponding price revision in other states.

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HCL Technologies in spotlight after partnership with IBM
Sep 30,2016

HCL Technologies and IBM said that the companies have entered a 15-year partnership for automation and development & operations (DevOps) solutions. The announcement was made after market hours yesterday, 29 September 2016.

Tata Steel said that the committee of directors approved raising Rs 1000 crore by issuing 10,000 non-convertible debentures (NCDs) on private placement basis. Each NCD carries a face value of Rs 10 lakh. NCD hold a tenure of 10 years. The announcement was made after market hours yesterday, 29 September 2016.

NHPC said that a wind power purchase agreement (PPA) has been signed amongst Rajasthan Government, NHPC and INOX on 28 September 2016 for 50 megawatts (MW) wind power project in Jaisalmer, Rajasthan. As per the PPA, Rajasthan Government will purchase the power generated from the project. The announcement was made after market hours yesterday, 29 September 2016.

Alkem Laboratories said that USFDA had conducted an inspection at the companys manufacturing facility located at Daman, India from 20 September 2016 to 29 September 2016. In this regard, the company has received the inspection report which contains thirteen 483 observations. The company shall put together a detailed response with adequate corrective and preventive measures to address the USFDA Observations and the same is proposed to be filed within the timeline stipulated by USFDA. The announcement was made after market hours yesterday, 29 September 2016.

Corporation Bank announced lending rates based on marginal cost of funds to be effective from 1 October 2016. The banks Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 9.05%, for one month will be 9.15% and for three months will be 9.30%. The MCLR on 6-month loans will be 9.40% and for one-year loans the rate would be 9.50%, the bank said. The announcement was made after market hours yesterday, 29 September 2016.

Sintex Industries said that its board approved the composite scheme of arrangement for the demerger of the custom moulding business and the prefab business from Sintex Industries to Sintex-BAPL and Sintex Infra Projects, respectively, each a wholly owned subsidiary of Sintex Plastics Technology. The proposed arrangement will streamline various businesses developed by the group, thereby creating focused leadership and management attention. The scheme also involves issuance of equity shares of Sintex Plastics Technology to the equity shareholders of Sintex Industries such that shareholders of Sintex Industries will effectively get one equity share of Sintex Plastics Technology upon demergers against one equity share held in Sintex Industries and listing of these equity shares of Sintex Plastics Technology on the BSE and the NSE. The transaction is expected to unlock value of shareholders by separating various businesses in different entities. The announcement was made after market hours yesterday, 29 September 2016.

Seamec said that it has entered into an agreement with HAL Offshore (HAL) for deployment of vessel Seamec II along with provision of services of remotely operated vehicle (ROV), the contract commenced with effect from 28 September 2016. As intimated, the total contract value for the period of 3 years will be $33.44 million approximately. The announcement was made after market hours yesterday, 29 September 2016.

Bharat Financial Inclusion said that the capital raising committee of the company has approved allotment of 97.40 lakh equity shares to eligible qualified institutional buyers at the issue price of Rs 770 per equity share, aggregating to Rs 749.99 crore pursuant to the offer. The announcement was made after market hours yesterday, 29 September 2016.

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ICICI Prudential Life Insurance Company to list today
Sep 29,2016

ICICI Prudential Life Insurance Company debuts on the secondary equity market today, 29 September 2016. The company had priced the initial public offer (IPO) at the top end of the Rs 300 to Rs 334 price band. The bidding for the IPO concluded on 21 September 2016. The issue received bids for 138.77 crore shares and it was subscribed 10.48 times.

Hindustan Copper said the government will sell a 7% stake in the company through a two-day offer for sale (OFS) beginning today, 29 September 2016. The government has set a floor price of Rs 62 per share, a 5.12% discount to Wednesdays closing share price. The secondary market transaction, comprising 6.47 crore shares, will help the government raise Rs 401.54 crore. The governments stake will decline to 82.95% following the sale. The government holds an 89.95% stake in the copper producing company as on 30 June 2016. The announcement was made after market hours yesterday, 28 September 2016.

Corporation Bank said that the securities allotment committee of the board of the bank at its meeting held on 28 September 2016 allotted 12.45 crore equity shares at an issue price of Rs 40.78 per share to Government of India on a preferential basis. Consequently, Government of India holding gets increased from 67.20% to 70.76%. The announcement was made after market hours yesterday, 28 September 2016.

Manappuram Finance said that financial resources and management committee of board of directors of the company allotted 1500 secured redeemable non-convertible debentures by way of private placement, having face value of Rs 10 lakh each aggregating to Rs 150 crore on 27 September 2016. The announcement was made after market hours yesterday, 28 September 2016.

Pidilite Industries announced its sales and distribution tie-up with WD-40 Company. In India, WD-40 Company has joined with Pidilite Industries to distribute and sell WD-40 Multi-Use Product. WD-40 Multi-Use Product is a multi-purpose maintenance product with more than 2000 uses. It protects metal from rust and corrosion, penetrates stuck parts, displaces moisture, lubricates moving parts, and removes grease and grime from most surfaces. The announcement was made after market hours yesterday, 28 September 2016.

Oil India, Indian Oil Corporation and BPCL will be in focus. The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, yesterday, 28 September 2016 gave its approval to an Indian consortium comprising Oil India (OIL), Indian Oil Corporation (IOCL) and Bharat Petro Resources (BPRL), a subsidiary of BPCL for acquiring 23.9% stake in JSC Vankorneft and 29.9% stake in LLC Taas-Yuryakh from Rosneft Oil Company (Rosneft), the National Oil Company (NOC) of Russian Federation (Russia). Rosneft operates Vankor and Tass-Yuryakh fields and are its wholly owned subsidiaries.

The acquisition of stake in Vankorneft will provide 6.56 million metric ton of oil equivalent (MMTOE) and 29.9% stake in Taas-Yuryakh will provide 0.5 MMTOE initially and 1.5 MMTOE by 2019. The acquisition is in line with Indias stated objective of adding high quality international assets to its exploration & production portfolio and thereby augmenting Indias energy security. The consortium will be paying $2.02 billion for acquiring stake in Vankorneft and $1.2 billion for acquiring stake in Taas-Yuryakh. Earlier in May 2016 ONGC Videsh (OVL) completed the formalities of acquiring 15% stake in Vankorneft at the cost of $1.284 billion which gave OVL 4.11 MMTOE.

The acquisition will add 8.06 MMTOE to Indias overseas oil and gas asset. It will also provide an opportunity to Indian public sector Oil and Gas companies to absorb newer technologies with Rosneft and British Petroleum (BP). BP acquired 20% stake in Taas-Yuryakh from Rosneft last year.

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Motherson Sumi Systems in focus after RBI hikes FPIs investment limit
Sep 28,2016

Motherson Sumi Systems will be watched after the Reserve Bank of India (RBI) allowed foreign investors to hike their stake in the company to up to 30% from 24% earlier. RBI made the announcement after market hours yesterday, 27 September 2016.

Karur Vysya Bank said it has sought shareholders approval for a proposal of splitting each share into five shares (5-for-1). Shareholders will vote for the proposal through a postal ballot process. The announcement was made after market hours yesterday, 27 September 2016.

RBL Bank said it raised Rs 330 crore from the UK-based development finance institution, CDC Group Plc (CDC), through Basel III compliant Tier II capital. The Tier II debt will strengthen the capital base of the bank, which in turn will support its businesses such as SME lending, agribusiness financing and financial inclusion. The infusion will also help the bank expand to new regions within India, the bank said. The announcement was made after market hours yesterday, 27 September 2016.

Mahindra and Mahindra (M&M) said it agreed to acquire 1.49 crore equity shares of Mahindra Two Wheelers Europe Holdings S.a.r.l from its subsidiary Mahindra Two Wheelers for 26.3 million Euros. The announcement was made after market hours yesterday, 27 September 2016.

Piramal Enterprises said that the administrative committee of the board of directors will be held on Friday, 30 September 2016 to consider the issuing secured non-convertible debentures (NCDs) aggregating to Rs 500 crore on private placement basis. The announcement was made after market hours yesterday, 27 September 2016.

MindTree announced the availability of the next generation of ATLAS, its output-based managed services framework. This new generation allows users to have greater transparency and a holistic view into the interworking of their application infrastructure, including performance metrics, optimization and analytics. The announcement was made after market hours yesterday, 27 September 2016.

Jindal Stainless said it received approval from Orissa Industrial and Infrastructure Development Corporation (IDCO) vide its letter dated 24 September 2016 conveying its no objection for effecting the transfer or right to use of the land on which the hot strip mill and the coke plant of the company are located, to Jindal United Steel and Jindal Coke, respectively. The announcement was made after market hours yesterday, 27 September 2016.

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IRB Infra in spotlight after winning order
Sep 27,2016

IRB Infrastructure has received a letter of award from National Highways Authority of India (NHAI) for Rs 2100-crore highway project in Rajasthan and Gujarat. The announcement was made after market hours yesterday, 26 September 2016.

Bosch said that its scheduled buyback of 8.78 lakh shares at Rs 23,000 each will open on 6 October 2016 and close on 21 October 2016. The announcement was made after market hours yesterday, 26 September 2016.

Sintex Industries said that its board approved allotment of 7.69 crore shares at Rs 65 per share on rights basis to eligible shareholders. The announcement was made after market hours yesterday, 26 September 2016. It may be recalled that shares of Sintex Industries had turned ex-rights on 8 August 2016. The company had fixed 9 August 2016 as record date for the rights issue. The company had approved issue of shares to shareholders in ratio of 26 shares on rights basis for every 151 shares held in the company at Rs 65 per share.

IIFL Holdings said that its board approved allotment of 4.33 crore compulsorily convertible preference shares and 100 equity shares worth Rs 231.92 per share to CDC Group plc as an investment of CDC in India Infoline Finance. The announcement was made after market hours yesterday, 26 September 2016.

8K Miles Software Services said that its board has fixed 13 October 2016 as the record date for ascertaining the eligibility of the shareholders entitled for stock split and bonus issue. The announcement was made after market hours yesterday, 26 September 2016.

Indiabulls Housing Finance said that the bond issue committee of the company approved allotment of secured redeemable non-convertible debentures and unsecured redeemable non-convertible debentures of face value of Rs 1,000 each, to base Issue of Rs 3500 crore with an over-subscription up to Rs 3500 crore for issuance of additional NCDs aggregating up to Rs 7000 crore. The announcement was made after market hours yesterday, 26 September 2016.

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Canara Bank in focus on fund raising plan
Sep 26,2016

Canara Banks board of directors at its meeting held on Friday, 23 September 2016, permitted the bank to raise additional equity share capital of an amount not exceeding Rs 1128 crore, including premium by way of rights issue with the Government of India (GoI) contribution of Rs 748 crore and Rs 380 crore from public shareholders. The board decided to constitute a rights issue committee of the board of directors to decide and permit on terms, timing, pricing, and other modalities of the rights issue. Further, the board decided to issue senior unsecured bonds in foreign currency in the range of $500 million in the international market under the $2 billion medium term note (MTN) programme of the bank for the purpose of providing funds to the overseas branches of the bank (the bank has so far raised $1100 million under this programme) and form a committee to decide the quantum, timing, tenor, pricing, costs etc. The announcement was made after market hours on Friday, 23 September 2016.

Dena Bank said after market hours on Friday, 23 September 2016 it has allotted 4,000 unsecured, subordinated, non-convertible Basel III compliant Tier II bonds, in the nature of debentures aggregating to Rs 400 crore on private placement basis. It may be recalled that the banks board of directors had last month approved for raising of Basel III compliant Tier II bonds upto an amount of Rs 1100 crore, in one or more tranche, in one or more instruments.

GNA Axles debuts on the secondary equity market today, 26 September 2016. The company had priced the initial public offer (IPO) at the top end of the Rs Rs 205 to Rs 207 price band. The IPO of GNA Axles saw strong response from investors. Bidding for the IPO ended on 16 September 2016. The IPO received bids for 24.52 crore shares and it was subscribed 54.88 times.

Welspun India announced that it has secured the Interactive Textile Article and Augmented Reality System patent, which protects Welspuns new product line TILT, a new brand from Welspun that focuses on seamlessly integrating technology into textiles. The announcement was made after market hours on Friday, 23 September 2016.

Nitesh Estates said its board will meet on 28 September 2016, to consider augmenting the long term fund requirements of the company including by way of further issue of capital and other means. The announcement was made after market hours on Friday, 23 September 2016.

The board of Vardhman Textiles approved the proposal to buyback the fully paid-up equity shares of face value of Rs. 10 each of the company. The buyback shall be upto an aggregate amount not exceeding Rs 720 crore at a maximum price of Rs 1,175. At maximum buyback price, the buyback translates into approximately 61.27 lakh equity shares of the company. The announcement was made on Saturday, 24 September 2016.

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L&T Technology Services in focus on debut
Sep 23,2016

Shares of L&T Technology Services will debut on bourses today, 23 September 2016. The initial public offer (IPO) of L&T Technology Services received bids for 1.83 crore shares, as per the data on the National Stock Exchange of India (NSE) website. The IPO was subscribed 2.53 times. The initial public offer (IPO) of L&T Technology Services had opened for bidding on 12 September 2016 and closed on 15 September 2016. The company has issued shares at Rs 860 per share, the top end of the Rs 850 to Rs 860 per share price band for the IPO. The qualified institutional buyers (QIBs) category was subscribed 5.01 times. The non-institutional investors category was subscribed 1.03 times. The retail individual investors (RIIs) category was subscribed 1.75 times.

Bharat Heavy Electricals (Bhel)s chairman & managing director, Atul Sobti, said that in spite of financial year ended March 2016 (FY 2016) being an extremely challenging year, the company recorded the highest-ever commissioning of projects in its history and the highest order booking in the last five years in FY 2016, ending the year with significant traction in growth drivers.

Addressing shareholders at the 52nd annual general meeting of the company, Mr. Sobti said that enhanced focus on project execution has resulted in Bhel creating history by way of commissioning/synchronizing an all-time high 15,059 megawatts (MW) of power generating equipment during the year. Despite intense competitive pressure in the power and capital goods markets during the year, Bhel achieved the highest order booking in the last five years, at Rs 43727 crore, a 42% leap over 2014-2015. The company ended the year with a total order book of Rs 110730 crore for execution in 2016-2017 and beyond. The announcement was made after market hours yesterday, 22 September 2016.

Shriram Transport Finance Company said that a committee of the company allotted 1,300 secured redeemable non-convertible debentures (NCDs) of face value of Rs 10 lakh each, aggregating to Rs 130 crore on private placement basis. The NCDs have a tenure of three years from the date of allotment. The NCDs carry a coupon rate of 8.25 per annum. The announcement was made after market hours yesterday, 22 September 2016.

Majesco announced that it has entered into an agreement with Glemham, a UK based managing general agent (MGA), to create a new cloud based bureau processing business using Majesco CloudInsurer to reduce the cost of transacting General Insurance in the UK market. Majesco CloudInsurer platform will be used to initially provide commercial lines insurance to both the broker and the small medium enterprise (SME) markets. The announcement was made after market hours yesterday, 22 September 2016.

Gallantt Ispat said that a meeting of the board of directors of the company will be held on 29 September 2016, to consider and approve the disposal of two subsidiaries - Shree Surabhi Wheat Products and Shree Surabhi Flour Mills. The announcement was made after market hours yesterday, 22 September 2016.

Speciality Restaurants said it has opened new Sigree franchise restaurant at Nagpur. The announcement was made after market hours yesterday, 22 September 2016.

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Union Bank of India in focus after completing stake acquisition in two joint ventures
Sep 22,2016

Union Bank of India said that it has completed the acquisition of 49% shareholding of Union KBC Asset Management Company and Union KBC Trustee Company from KBC Participations Renta S.A. and its affiliates (KBC Asset Management NV) on 20 September 2016. Accordingly, Union KBC Asset Management Company and Union KBC Trustee Company have become wholly owned subsidiaries of Union Bank of India. The announcement was made after market hours yesterday, 21 September 2016.

Last year, the board of Union Bank of India approved purchase of 49% stake in Union KBC Asset Management and Union KBC Trustee Company from KBC Participations Renta. KBC Participations Renta is a group company of Luxembourg-based KBC Asset Management NV.

Union Bank of India and KBC Asset Management NV had formed two joint ventures - Union KBC Asset Management Company and Union KBC Trustee Company - in 2009 with 51% and 49% holding, respectively.

HDFC announced that the company intends to raise Rs 1340 crore from issue of non-convertible debentures on private placement basis. The debentures will carry a coupon rate of 7.67% per annum and will have a tenor of 1 year 2 months. The announcement was made after market hours yesterday, 21 September 2016.

Mahindra & Mahindra (M&M) announced the proactive inspection of a fluid hose on all New Generation Scorpio & NuvoSport vehicles, manufactured till June 2016, respectively. This is in keeping with the companys customer centric approach, the company said. The inspection and subsequent rectification will be carried out free of cost for all New Generation Scorpio & NuvoSport customers, who will be individually contacted by the company. As an endeavor to ensure a hassle free experience for its customers, the company is proactively carrying out this activity, it said. This action is also in compliance with SIAMs voluntary code on vehicle recall, M&M said. The announcement was made after market hours yesterday, 21 September 2016.

Syngene International, Asias leading Contract Research Organization, and Strand Life Sciences, announced that they have completed a deal through which Syngene has purchased assets of Strand Life Sciences related to systems biology, Heptox and pharma bioinformatics services. This includes target dossier business and rights to NGS data analytics and Sarchitect platforms, supported by a strong scientific team. Financial details of the deal were not disclosed.

This deal gives Syngene access to Strands patented Virtual Liver model and the NGS analytics platform. The Virtual Liver model is able to predict the toxic effect of different drugs or chemicals on the liver (both rat and human) using information from laboratory based experiments prior to actual testing on live animals or humans. Strand NGS is an integrated platform that provides analysis, management and visualization tools for next-generation sequencing data. The announcement was made after market hours yesterday, 21 September 2016.

Godrej Properties announced that it has acquired a land parcel measuring approximately 12 acres off Sarjapur Road in South Bangalore. Godrej Properties plans to develop a residential housing project of approximately 92,900 square meters (approximately one million square feet). This project will be developed in partnership with Godrej Residential Investment Program II. The announcement was made after market hours yesterday, 21 September 2016.

IDBI bank has sold 6.75 lakh shares constituting 1.5% of the paid up capital of National Stock Exchange of India (NSE) to TIMF Holdings on 21 September 2016. The announcement was made after market hours yesterday, 21 September 2016.

Raymond said that Ring Plus Aqua (RPAL), an unlisted subsidiary of Raymond, has entered into a share purchase agreement with Neel Metals Products to transfer by way of sale its entire equity share holding of 1.04 crore equity shares in its 50:50 joint venture company namely, Rose Engineered Products India (ROSE). Consequent to said transaction ROSE ceases to be an Associate of RPAL and Raymond. The enterprise value of ROSE was arrived at Rs. 20.19 crore. The announcement was made after market hours yesterday, 21 September 2016.

Gujarat Narmada Valley Fertilisers and Chemicals (GNFC) entered into a joint venture with Santosh Agrochem LLP to set up about 345 MTPD purified wet lime project in a phased manner at Bharuch to be implemented through a joint venture company in the name of Calciwell Chemtech at an estimated cost of Rs 50 crore. The announcement was made after market hours yesterday, 21 September 2016.

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NBCC (India) may gain after new order win
Sep 21,2016

NBCC (India) has secured contract worth approximately Rs 440 crore from ESIC, Ministry of Labour & Employment, Government of India for construction of 100 bedded hospital(s) at Haridwar and Dehradun (Uttarakhand) and 300 bedded hospital at Indore, Madhya Pradesh. The announcement was made after market hours yesterday, 20 September 2016.

Wipro announced global partnership with Witbe, a leading innovator in the field of test automation and services quality of experience (QoE) monitoring robots for broadband, voice and TV triple-play monitoring. This partnership is of strategic importance to Wipro, and will offer integrated test automation and video services monitoring solutions for customer deployments across set top box, mobile platforms and other handheld devices. These solutions will benefit new and existing customers of Wipro and Witbe including semiconductor players, Original Equipment Manufacturers (OEMs), Original Design Manufacturers (ODMs) and service providers in the media industry. The announcement was made after market hours yesterday, 20 September 2016.

In a separate announcement after market hours yesterday, 20 September 2016, Wipro announced that it has joined Oracles newly announced Oracle Cloud Managed Service Provider (MSP) Program. Wipro is a Diamond level member of Oracle PartnerNetwork (OPN) and has an OPN Cloud Select designation. The Wipro Boundaryless Data Center (BLDC) offering is based on an innovative IT transformational approach that enables enterprise ITaaS (IT as a Service) through a universal marketplace. BLDC is integrated with Oracle IaaS (Infrastructure as a Service) and PaaS (Platform as a Service) services, and provides a unified platform to drive hybrid IT journey for enterprises by enabling dynamic sourcing, automated provisioning, monitoring and management. In collaboration with Oracle, Wipro will build standard reference architectures, workload blueprints and continuous deployment solutions for accelerated cloud transformation.

Mahindra & Mahindra (M&M) announced regarding incorporation of a subsidiary company in Brazil namely CMN Solutions Q013 Participacoes Ltda (target). M&M along with its wholly owned subsidiary Mahindra Overseas Investment Company (Mauritius) (MOICML) would acquire 100% of the capital stock of the target which would further acquire assets of a tractor distributor in Brazil viz. Bramont Montadora Industrial e Commercial de Veiculos S.A. (Bramont). The target is a shell company engaged in tractor distribution and has no operations till date. The cost of acquisition would not exceed $8.02 million out of which M&M would pay a consideration not exceeding $8 million for its stake in the target. The consideration for acquisition in cash would be paid upon receipt of approval from the Reserve Bank of India (RBI). The indicative time period for completion of the acquisition is October 2016. The announcement was made before market hours today, 21 September 2016.

IRB Infrastructure Developers (IRB) said that it has emerged as a preferred bidder for the project of six Laning from Kishangarh n++ Udaipur n++ Ahmedabad section of around 125 kilometres in Rajasthan. The project is on design-build-finance-operate-transfer (DBFOT) (Toll) pattern, under NHDPs Phase V (Package-V). The concession period of the project is 20 years including construction period of 910 days. The company will get tolling rights on project from the appointed date. The company has offered premium of Rs 228.60 crore to National Highways Authority of India (NHAI) in terms of the concession agreement. Upon award of this project, IRBs construction order book will stand to increase to approximately Rs 11300 crore, to be executed in the next four years. This will boost the companys construction orderbook visibility for next three to four year. The announcement was made after market hours yesterday, 20 September 2016.

Piramal Enterprises said that the duly empowered Committee of Directors has approved a proposal to down-sell a part of the companys lending portfolio, forming part of its financial services business, to its wholly owned subsidiary Piramal Finance, for a net consideration of Rs 1450 crores. Relevant agreements to give effect to this would be executed. This proposal is expected to be completed by end-October 2016. The announcement was made after market hours yesterday, 20 September 2016.

TeamLease Services announced the signing of a definitive agreement to acquire Nichepro Technologies (Nichepro). The transaction remains subject to customary closing conditions and regulatory approvals. TeamLease will acquire Nichepro for an enterprise value of Rs 29.5 crores through its wholly owned subsidiary, TeamLease Staffing Services. The transaction, which will be immediately accretive to TeamLeases earnings per share, will be financed with existing financial resources and is expected to close before the end of October 2016. Nichepro is a Tier 1 staffing provider to reputed MNCS and niche product companies. The announcement was made after market hours yesterday, 20 September 2016.

Vardhman Textiles said that a meeting of the board of directors of the company will be held on 24 September 2016, to consider proposal to buy-back the fully paid-up equity shares of the company. The announcement was made after market hours yesterday, 20 September 2016.

Shares of Inox Leisure will be in focus after the Reserve Bank of India (RBI) notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) from default can now invest from existing 24% up to 49% of the paid up capital of Inox Leisure under the Portfolio Investment Scheme (PIS). The Reserve Bank of India (RBI) has stated that the company has passed resolution at its board of directors level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges.

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Dr Reddys Lab in focus after launching Paricalcitol injection
Sep 20,2016

Dr Reddys Laboratories said it launched Paricalcitol injection, USP, a therapeutic equivalent generic version of Zemplar (paricalcitol) injection in the United States market approved by the US Food & Drug Administration (USFDA). The Zemplar brand and generic had US sales of approximately $22.5 million MAT for the most recent twelve months ending in July 2016 according to IMS Health. Dr. Reddys Paricalcitol Injection is available in 2 mcg, 5 mcg, and 10 mcg, and is the first ANDA product launched in the US market. The announcement was made after market hours yesterday, 19 September 2016.

Asian Paints announced after market hours yesterday, 19 September 2016, that as a part of the companys plan to consolidate its investments in the overseas subsidiaries, Asian Paints (International) (APIL), Mauritius, a wholly owned subsidiary of the company, has transferred its entire holding of 99.18% held in the subsidiary company, Asian Paints (Lanka), Sri Lanka, to Berger International, Singapore, a wholly owned subsidiary of APIL. The transfer process has been completed on 19 September 2016.

Mahindra & Mahindra (M&M) announced that India Ratings and Research (Ind-Ra) has assigned Provisional IND AAA rating with stable outlook for the companys proposed issue of Rs 475 crore non-convertible debentures. The ratings agency has also assigned IND A1+ rating for the companys proposed issue of Rs 700 crore commercial papers. The announcement was made after market hours yesterday, 19 September 2016.

Oriental Bank of Commerce said that the issue of Basel III Compliant Additional Tier 1 Bonds (private placement) was opened on 16 September 2016. The issue was fully subscribed to the extent of Rs 1000 crore and bonds were allotted on 16 September 2016. The announcement was made after market hours yesterday, 19 September 2016.

Canara Bank said that at a meeting of the board of directors of the bank is scheduled on 23 September 2016, note the consent of the Government of India on infusion of capital and rights issue. The bank will consider raising of capital by way of a rights issue and strengthening of Capital to Risk weighted Assets Ratio (CRAR) of the bank. The announcement was made after market hours yesterday, 19 September 2016.

Reliance Infrastructure announced that the board of directors of the company approved to amend the Object Clause of the Memorandum of Association of the company to include new activities relating to setting up any Trust, Funds including Venture Capital Funds, Infrastructure Investment Trust and Real Estate Investment Trust and other Alternative Investment Funds and defence business. The announcement was made after market hours yesterday, 19 September 2016.

Karur Vysya Bank said that the board of directors of the bank has considered and approved a 5-for-1 stock split. The announcement was made after market hours yesterday, 19 September 2016.

K.P.R. Mill has scheduled a board meeting on 5 October 2016, to consider stock-split proposal. The announcement was made after market hours yesterday, 19 September 2016.

Fiem Industries said that the fund raising committee of the board of directors approved allotment of 11.97 lakh equity shares of face value of 10 each to qualified institutional buyers at the issue price of Rs 1002 per share, aggregating to Rs 119.99 crore. The announcement was made after market hours yesterday, 19 September 2016.

Mangalam Cement said it has commenced commercial production of the new cement grinding unit with a capacity of 0.75 million ton per annum (MTPA) at Aligarh, Uttar Pradesh. The overall capacity is now enhanced from 3.25 MTPA to 4.00 MTPA. The announcement was made after market hours yesterday, 19 September 2016.

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ICICI Bank in focus as ICICI Prudential IPO to open for bidding
Sep 19,2016

Shares of ICICI Bank will be in focus as the initial public offer (IPO) of private sector life insurance company ICICI Prudential Life Insurance Company (ICICI Prudential) opens for bidding today, 19 September 2016. The IPO closes on 21 September 2016. The price band for the IPO has been fixed at Rs 300 to Rs 334 per share. The offer comprises sale up to 18.13 crore equity shares of ICICI Prudential, representing about 12.63% of its equity share capital for cash, through an offer for sale (OFS) by ICICI Bank. The entire proceeds from the OFS will be paid to ICICI Bank.

Power Grid Corporation of India said that the companys board of directors in their meeting held on 16 September 2016 has accorded investment approval for System Strengthening in Southern Region - XXI at an estimated cost of Rs 562.25 crore, with commissioning schedule of 30 months progressively from the date of investment approval. The announcement was made after market hours on Friday, 16 September 2016.

Axis Bank announced that the bank has kept its Marginal Cost of Funds based Lending Rate (MCLR) unchanged after a latest review. The banks Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 8.85%, the rate for one month will be 8.9% and for three months it will be 9.1%. The MCLR on 6-month loans will be 9.2% and for one-year loans the rate will be 9.25%, the bank said. MCLR on two-year loans will be 9.35% and for three-year loans the rate will be 9.4%. The rates are with effect from 17 September 2016. The announcement was made after market hours on Friday, 16 September 2016.

Separately, Axis Bank said that the bank has signed a Share Purchase Agreement with IFCI for acquisition of 73.28 lakh equity shares (13.67% of total outstanding shares) of face value of Rs 10 per share in Assets Care and Reconstruction Enterprise (ACRE) from IFCI at Rs 31 per share, resulting in a total cash consideration of Rs 22.72 crore. The transaction is subject to requisite regulatory approvals, including from Reserve Bank of India, Axis Bank said. The announcement was made after market hours on Friday, 16 September 2016.

The Reserve Bank of India notified that the foreign shareholding by American Depository Receipts (ADR)/Global Depository Receipts (GDR)/Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs)/Non Resident Indian (NRIs)/Foreign Direct Investment (FDIs)/Persons of Indian Origin (PIOs) in South Indian Bank has reached the trigger limit. Hence further purchases of equity shares of this company would be allowed only after obtaining prior approval of the Reserve Bank of India. The announcement was made after market hours on Friday, 16 September 2016.

IDFC said the company issued Commercial Papers for an aggregate amount of Rs 700 crore on 12 September 2016 having maturity date of 29 September 2016 which has been rated as A1+ by ICRA. Instruments with these rating are considered to have a strong degree of safety regarding timely payment of financial obligations and such instruments carry lowest credit risk. The aggregate amount of Commercial Paper outstanding as on date is Rs 700 crore. The announcement was made on Saturday, 17 September 2016.

Vipul received environmental clearance from the State Environment Impact Assessment Authority, Haryana, for its project Aarohan on Golf Course road in Gurgaon. Vipul said the company had raised debt from DMI Finance (DMI) to the tune of Rs 175 crore, and the money was utilized for pre-operative expenses of Project Aarohan.

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PSU OMCs and auto stocks will be in focus after revision in fuel prices
Sep 16,2016

PSU OMCs and auto stocks will be in focus after PSU OMCs hiked petrol price by 58 paise a litre and cut diesel price by 31 paise per litre in Delhi effective 16 September 2016 (including state levies), with corresponding price revision in other states. Petrol now costs Rs 64.05 a litre as against Rs 63.47 in Delhi. Similarly, diesel now costs Rs 52.63 a litre as compared to Rs 52.94 a litre.

Wipro announced after market hours yesterday, 15 September 2016 that the company and Reltio, an enterprise data driven applications and modern data management platform as a service company partnered to develop faster and cost effective master data management solutions. The partnership will help Reltio and Wipros clients bridge the gap between data and insights by boosting the reliability of information, while ensuring users get access to relevant data.

Punjab National Bank said that consequent upon receipt of capital funds to the tune of Rs 2112 crore from the Government of India on 14 September 2016, the bank has issued and allotted 16.43 crore equity shares at Rs 128.49 per equity share on preferential basis to Government of India. The announcement was made after market hours yesterday, 15 September 2016.

Union Bank of India said that the bank has on 15 September 2016 issued 10,000 Non-Convertible, Unsecured Subordinated Basel III Compliant Perpetual Debt Instruments eligible for inclusion in Additional Tier 1 Capital. The bond is issued for face value of Rs 10 lakh each at par aggregating to Rs 1000 crore on private placement basis bearing 9.50% per annum coupon payable annually. The AT1 Bonds are rated IND AA by India Ratings and Research and CARE AA by Credit Analysis & Research. The announcement was made after market hours yesterday, 15 September 2016.

Bharat Financial Inclusion said that the company on 15 September 2016 completed a securitization transaction of Rs 108 crore. With this, the company has completed three securitization transactions aggregating to Rs 852.44 crore in the year ending 31 March 2017 (FY 2017), Bharat Financial Inclusion said. The entire pool qualifies for priority sector treatment as per the Reserve Bank of Indias priority sector lending guidelines. The pool has been rated AA (SO) by a leading rating agency, signifying a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk, the company said. The announcement was made after market hours yesterday, 15 September 2016.

Balasore Alloys said before market hours today, 16 September 2016 that the company has commenced the commercial production from 15 September 2016 at its Sukinda Unit, which was acquired from Jabamayee Ferro Alloys as a going concern on a slump sale basis situated at Tehsil Sukinda, Village & Mouza - Nijagarh, P.S. Sukinda, District - Jajpur, Odisha.The Sukinda Unit of the company has the installed capacity of production of 15,660 metric tonne per annum.

Den Networks announced after market hours yesterday, 15 September 2016 that a meeting of the board of directors of the company will be held on 20 September 2016, to discuss and approve proposal for preferential issue of shares to one of the leading global financial investors who will form part of the persons belonging to non promoter category, subject to approval of the board of directors, shareholders and in compliance with the all applicable laws.

Tube Investments of India announced after market hours yesterday, 15 September 2016 that it has entered into 50-50 joint venture with Chennai based Absolute Speciality Foods Chennai to open bicycle cafes in select locations in India under the Ciclo Cafe brand. Ciclo Cafn++ is a popular brand name in hospitality and cycling circuits.

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Ashok Leyland may gain on approval for amalgamation of Hinduja Foundries with company
Sep 15,2016

Ashok Leyland said that the board of directors approved the proposal of amalgamating Hinduja Foundries, a Hinduja Group Company with Ashok Leyland. The transaction is subject to various regulatory approvals and approval of shareholders of both the companies. The board of directors also approved, subject to regulatory approvals the exchange ratio wherin shareholders holding 100 shares in Hinduja Foundries will get 40 shares of Ashok Leyland. One thousand 2008 series global depository receipts (GDRs) of Hinduja Foundries will get 133 shares of Ashok Leyland. One 2006 series GDRs of Hinduja Foundries will get 4,800 shares of Ashok Leyland. The appointed date for the proposed transaction is 1 October 2016.

State Bank of India announced after market hours yesterday, 14 September 2016 that it has concluded the issue of $300 million AT1 Basel III compliant non-convertible, perpetual non call 5 year subordinated, unsecured note/bonds at a coupon 5.5% payable semi-annually, under banks $10 billion RegS MTN Programme. The notes will be issued through banks Dubai International Financial Centre Branch on 22 September 2016 and will be listed on Singapore Stock Exchange.

Reliance Communications (RCom) said the company and Maxis Communications Berhad (MCB), promoters of Aircel, a leading pan-India mobile operator signed definitive documents for the merger of their Indian wireless businesses-the largest-ever consolidation in the Indian telecom sector. The RCom-Aircel combination will create a strong operator ranked amongst Indias top 4 telecom companies by customer base and revenues, also ranking amongst the top 3 operators by revenues in 12 important circles.

The merged company will have the second-largest spectrum holding amongst all operators, aggregating 448 MHz across the 850, 900, 1800 and 2100 MHz bands, and will enjoy enhanced business continuity through extended validity of spectrum holdings till 2033-35. The merged company will be one of Indias largest private sector companies, with an asset base of over Rs 65000 crore ($9.7 billion) and net worth of Rs 35000 crore ($5.2 billion). The combined entity will enjoy substantial benefits of scale driving significant revenue growth, and capex and opex synergies with an NPV of Rs 20000 crore ($3 billion).

RCom and MCB will each hold a 50% stake in the merged entity with equal representation on the board of directors and all committees. The company will be managed by an independent professional team under the supervision of the board. RComs overall debt will reduce by Rs 20000 crore ($3 billion) or over 40% of its total debt, and Aircels debt will reduce by Rs 4000 crore ($600 million), upon completion of the transaction in 2017.

RCom will continue to own and operate its high growth businesses in the domestic and global enterprise space, data centers, optic fibre and related telecom infrastructure, besides owning valuable real estate. On consummation of the merger, RCom and MCB are committed to additional equity infusion into merged company to further strengthen the balance sheet, fund future growth plans, and enhance financial flexibility. Both parties are already in talks with leading international investors in this regard. The merged companys subscribers will have access to nationwide gold standard 4G LTE services on the sub-1 GHz band, under RComs existing nation-wide spectrum sharing/ ICR arrangements with Reliance Jio Infocomm.

The combined 2G, 3G and 4G networks position the merged entity for further strategic collaborations, and provide the entity the unique capability to offer a robust platform of services across all customer segments in all 22 telecom circles, including the mass market, leading to a superior customer experience at an affordable price point, and bringing the Internet to All in furtherance of Prime Minister Narendra Modis vision of Digital India.

Separately, RComs consolidated net profit rose 5.88% to Rs 54 crore on 3.75% decline in total income to Rs 5361 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 14 September 2016.

Unitech posted consolidated net loss of Rs 44.82 crore in Q1 June 2016 compared with net loss of Rs 279.63 crore in Q1 June 2015. Total income rose 26.94% to Rs 495.93 crore in Q1 June 2016 over Q1 June 2015. The result was announced before market hours today, 15 September 2016.

Shares of Hero MotoCorp turn ex-dividend today, 15 September 2016 for final dividend of Rs 32 per share for the year ended 31 March 2016.

Shares of Mahanagar Gas turn ex-dividend today, 15 September 2016 for final dividend of Rs 17.50 per share for the year ended 31 March 2016.

Shares of Oil India turn ex-dividend today, 15 September 2016 for final dividend of Rs 8 per share for the year ended 31 March 2016.

Shares of Reliance Capital turn ex-dividend today, 15 September 2016 for dividend of Rs 10 per share for the year ended 31 March 2016.

Shares of Reliance Infrastructure turn ex-dividend today, 15 September 2016 for dividend of Rs 8.50 per share for the year ended 31 March 2016.

NBCC (India) reported 16.39% rise in consolidated net profit to Rs 47.09 crore on 16.61% rise in total income from operations (net) to Rs 1273.26 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 14 September 2016.

BEML reported net loss of Rs 107.10 crore in Q1 June 2016, higher than net loss of Rs 68.10 crore in Q1 June 2015. Total income fell 49.7% to Rs 300.52 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 14 September 2016.

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