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Max Ventures and Industries to sell 22.51% stake
Jan 09,2017

The Board of Max Ventures and Industries (MaxVIL) on 09 January 2016 made a preferential offer, subject to shareholder approval, to issue common stock to a subsidiary of New York Life Insurance Company. New York Life is the largest mutual life insurance company in the United States and one of the largest life insurers in the world, with more than $500 billion under management.

Subject to MaxVIL shareholder approval, a subsidiary of New York Life Insurance Company will acquire a 22.51% equity stake in MaxVIL at an offer price of Rs. 78 per share aggregating to Rs. 121 crore on a diluted basis and will be entitled to one nominee director to the Board of MaxVIL.

The Board of MaxVIL also proposed an allotment of share warrants to the promoter group equivalent to 4.76% of the post-issue share capital of the Company on a fully diluted basis assuming full conversion of the warrants. These share warrants will be issued at Rs. 78 per warrant aggregating to Rs. 26.9 crore and will be convertible into equivalent equity shares within 18 months, taking the shareholding of the Promoter Group in MaxVIL to around 38.02% on fullydiluted basis.

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Water level of 91 major reservoirs of the country goes down by Two per cent
Jan 09,2017

The Water storage available in 91 major reservoirs of the country for the week ending on January 05, 2017 was 89.348 BCM, which is 57% of total storage capacity of these reservoirs. This was 126% of the storage of corresponding period of last year and 98% of storage of average of last ten years.

The total storage capacity of these 91 reservoirs is 157.799 BCM which is about 62% of the total storage capacity of 253.388 BCM which is estimated to have been created in the country. 37 Reservoirs out of these 91 have hydropower benefit with installed capacity of more than 60 MW.

REGION WISE STORAGE STATUS:-

NORTHERN REGION

The northern region includes States of Himachal Pradesh, Punjab and Rajasthan. There are 6 reservoirs under CWC monitoring having total live storage capacity of 18.01 BCM. The total live storage available in these reservoirs is 8.1 BCM which is 45% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 53% and average storage of last ten years during corresponding period was 54% of live storage capacity of these reservoirs. Thus, storage during current year is less than the corresponding period of last year and is also less than the average storage of last ten years during the corresponding period.

EASTERN REGION

The Eastern region includes States of Jharkhand, Odisha, West Bengal and Tripura. There are 15 reservoirs under CWC monitoring having total live storage capacity of 18.83 BCM. The total live storage available in these reservoirs is 14.75 BCM which is 78% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 58% and average storage of last ten years during corresponding period was 69% of live storage capacity of these reservoirs. Thus, storage during current year is better than the corresponding period of last year and is also better than the average storage of last ten years during the corresponding period.

WESTERN REGION

The Western region includes States of Gujarat and Maharashtra. There are 27 reservoirs under CWC monitoring having total live storage capacity of 27.07 BCM. The total live storage available in these reservoirs is 18.35 BCM which is 68% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 40% and average storage of last ten years during corresponding period was 64% of live storage capacity of these reservoirs. Thus, storage during current year is better than the storage of last year and is also better than the average storage of last ten years during the corresponding period.

CENTRAL REGION

The Central region includes States of Uttar Pradesh, Uttarakhand, Madhya Pradesh and Chhattisgarh. There are 12 reservoirs under CWC monitoring having total live storage capacity of 42.30 BCM. The total live storage available in these reservoirs is 30.70 BCM which is 73% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 55% and average storage of last ten years during corresponding period was 53% of live storage capacity of these reservoirs. Thus, storage during current year is better than the storage of last year and is also better than the average storage of last ten years during the corresponding period.

SOUTHERN REGION

The Southern region includes States of Andhra Pradesh, Telangana, AP&TG (Two combined projects in both states) Karnataka, Kerala and Tamil Nadu. There are 31 reservoirs under CWC monitoring having total live storage capacity of 51.59 BCM. The total live storage available in these reservoirs is 17.45 BCM which is 34% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 31% and average storage of last ten years during corresponding period was 56% of live storage capacity of these reservoirs. Thus, storage during current year is better than the corresponding period of last year but is less than the average storage of last ten years during the corresponding period.

States having better storage than last year for corresponding period are Punjab, Rajasthan, Jharkhand, Odisha, West Bengal, Gujarat, Maharashtra, Uttar Pradesh, Madhya Pradesh, Chhattisgarh, AP&TG (Two combined projects in both states), Telangana and Karnataka. States having lesser storage than last year for corresponding period are Himachal Pradesh, Tripura, Uttarakhand, Andhra Pradesh, Kerala and Tamil Nadu.

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Engineers India to execute Vizag Refinery Modernization Project
Jan 09,2017

Engineers India announced that Hindustan Petroleum Corporation (HPCL) has entrusted the Project for execution of Vizag Refinery Modernization Project (VRMP) to Engineers India (EIL).

EIL shall execute this project contract under two separate contracts, namely PMC Services for major Process Units and packages under U&O and Execution of U&O and PRU Revamp on Open Book Estimate (OBE) Basis. The total awarded order value is more than Rs. 2500 crore with a total project schedule of 43 months for Mechanical Completion.

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Axis Bank allots 22,850 equity shares
Jan 09,2017

Axis Bank has allotted 22,850 equity shares of Rs. 2/- each on 09 January 2017, pursuant to exercise of options under its ESOP Scheme.

The paid up share capital of the Bank will accordingly increase from Rs. 478,29,72,946 (239,14,86,473 equity shares of Rs. 2/- each) to Rs. 478,30,18,646 (239,15,09,323 equity shares of Rs. 2/- each).

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Board of Wendt India to consider Q3 results and interim dividend
Jan 09,2017

Wendt India announced that a meeting of the Board of Directors of the Company has been convened on 24 January 2017, inter alia, to consider and approve the Un-audited Financial Results of the Company for the 3rd quarter and nine months ended 31 December 2016 and recommendation of interim dividend, if any.

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Board of Tejnaksh Healthcare to consider bonus issue
Jan 09,2017

Tejnaksh Healthcare announced that a meeting of the Board of Directors of the Company will be held on 18 January 2017, inter alia, to transact, with or without modifications the following Business:

1. To consider and approve the increase in Authorised Share Capital of the Company.

2. To consider and approve the declaration of Bonus Equity Share issue of the Company.

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Gogia Capital Services Board to adopt December quarter results
Jan 09,2017

Gogia Capital Services announced that the next meeting of the Board of Directors of the Company will be held on 30 January 2017, to adopt unaudited financial results of the Company for the quarter ended 31 December 2016.

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Board of Khoobsurat to consider Q3 results
Jan 09,2017

Khoobsurat announced that the meeting of Board of Directors of the Company will be held on 14 February 2017, to consider Un-Audited Financial Results (Provisional) for the 3rd quarter ended on 31 December 2016 (Q3) for the financial year ended on 31 March 2017.

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Board of Jackson Investments to consider December quarter results
Jan 09,2017

Jackson Investments announced that the meeting of Board of Directors of the Company will be held on 14 February 2017, to consider Un-Audited Financial Results (Provisional) for the 3rd quarter ended on 31 December 2016 (Q3) for the financial year ended on 31 March 2017.

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Orient Refractories Board to consider Q3 and 9M results
Jan 09,2017

Orient Refractories announced that a meeting of the board of directors of the Company will be held on 30 January 2017, inter alia, to consider un-audited financial results for the quarter and nine months ended 31 December 2016.

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Board of Panasonic Carbon India Company to consider Q3 results
Jan 09,2017

Panasonic Carbon India Company announced that a meeting of the Board of Directors of the Company is scheduled to be held on 31 January 2017, inter alia, to consider and approve the unaudited financial results for the third quarter ended 31 December 2016.

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Rupee tumbles
Jan 09,2017

Rupee closed lower below 68-mark at 68.20/21 per dollar on Monday (09 January 2017), versus its previous close of 67.9509/9700 per dollar.

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Torrent Power to announce Q3 results
Jan 09,2017

Torrent Power announced that a meeting of the Board of Directors of the Company is scheduled to be held on 09 February 2017, inter alia, to consider the unaudited Financial Results for the quarter and nine months ended 31 December 2016(Q3).

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Cold wave spell over plains of northwest India
Jan 09,2017

With the eastward movement of the current Western Disturbance as an upper air cyclonic circulation lying over north Pakistan & neighbourhood, dry northwesterly cold winds at lower & middle levels very likely to prevail over plains of northwest India from 10th night to 13th January morning.

Under these circumstances, the prevailing minimum temperatures over plains of northwest India are very likely to fall further by 2-4n++C till 13th morning.

Cold Wave Warning:

n++ Cold wave at a few places with severe cold wave conditions at isolated places are most likely to prevail over Punjab, Haryana and northern parts of Rajasthan from tomorrow, the 10th night to 13th morning.

n++ Cold wave conditions at isolated places are also most likely to prevail over West Uttar Pradesh from 11th morning to 13th morning.

Ground Frost Warning:

n++ Considering the trends in minimum temperatures from 10th morning to 13th morning, ground frost conditions are also very likely to occur at isolated pockets over Punjab, Haryana and north Rajasthan during the same period.

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Board of Lakshmi Vilas Bank to consider Q3 results
Jan 09,2017

Lakshmi Vilas Bank announced that a meeting of Board of Directors is scheduled to be held on 19 January 2017, to consider the Un-Audited Financial Results of the Bank for the Third Quarter ended 31 December 2016.

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