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Axis Bank allots equity shares
Jan 02,2017

Axis Bank has allotted 1,02,630 equity shares of Rs. 2/- each on 02 January 2017, pursuant to exercise of options under its ESOP Scheme.

The paid up share capital of the Bank will accordingly increase from Rs. 478,27,67,686 (239,13,83,843 equity shares of Rs. 2/- each) to Rs. 478,29,72,946 (239,14,86,473 equity shares of Rs. 2/-each).

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Power Finance Corporation announces change in directorate
Jan 02,2017

Power Finance Corporation announced the cessation of A K Agarwal as Director (Projects) with effect from 31 December 2016. The Company announced the appointment of Chinmoy Gangopadhyay as Director (Projects) with effect from 01 January 2017.

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Tata Teleservices (Maharashtra) gets revision in credit ratings for NCDs
Jan 02,2017

Tata Teleservices (Maharashtra) announced that India Ratings & Research has downgraded the Companys long term issuer rating and the rating on its Rs 750 crore Non Convertible Debentures (NCDs) to IND A from IND A+. The Outlook is Negative.

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TVS Motor Company announces sales figures
Jan 02,2017

TVS Motor Company clocked sales of 184,901 units during the month ofDecember 2016, as against 202,021 units registered in the month of December 2015.

Total two-wheelers recorded sales of 179,508 units in December 2016 as against 194,001 units in December 2015. Domestic two-wheeler registered sales of 153,413 units in December 2016 as against 168,160 units in December 2015.

Scooters registered sales of 55,536 units in the month of December 2016 as against 65,025 units in December 2015. Motorcycles recorded sales of 58,189 units in December 2016 as against 71,435 units registered in the month of December 2015.

Three-wheeler of the Company registered sales of 5,393 units in December 2016 as against 8,020 units in December 2015.

The Companys total exports registered sales of 30,694 units in the month of December 2016 as against 32,706 units recorded in the month of December 2015. Two-wheeler exports registered sales of 26,095units in December 2016 as against 25,841 units in December 2015.

During the third quarter of the current financial year, two-wheeler sales grew by 3.9% increasing from 6.76 lakh units in the third quarter of the previous year to 7.02 lakh units in the third quarter of the current year. Three-wheeler sales of the Company was at 0.16 lakh units in the third quarter of the current year as against 0.26 lakh units in the third quarter of the previous year.

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Pricol shifts plant to new location in Pune
Jan 02,2017

Pricol has shifted its Plant in Pune to new location with effect from end December 2016 as mentioned below -

Pricol, Global - Raisoni Industrial Park, Gat No. 180-187, Phulgaon, Haveli Taluka, Pune - 412216.

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Power Grid Corporation of India transfers POSOCO to Govt. of India
Jan 02,2017

Power Grid Corporation of India announced that in terms of Government of India communication dt. 23 September 2016, on receipt of purchase consideration of Rs. 81.21 crore, POWERGRID has transferred 3,06,40,000 equity shares of Rs. 10/- each of Power System Operation Corporation (POSOCO) to Government of India.

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Aban Offshore provides business update
Jan 02,2017

Aban Offshore announced the completion of sale of 59 % equity shares held by Aban Offshore in Aban Green Power and Radhapuram Wintech - subsidiaries of Aban Offshore. The Company also completed the transaction for acquisition of 49 % equity shares in Aban Drilling Services.

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Board of IndusInd Bank to consider Q3 results
Jan 02,2017

IndusInd Bank announced that a meeting of the Board of Directors of the Bank will be held on 10 January 2017, inter alia, to consider and take on record, the Unaudited Financial Results for the quarter and nine-month ended 31 December 2016 (Q3).

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Mphasis to consider Q3 results
Jan 02,2017

Mphasis announced that a meeting of Board of Directors of the Company is being scheduled on 31 January 2017, inter alia, to consider and approve the audited financial results of Mphasis and Group for the quarter and nine months period ended 31 December 2016 (Q3).

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Cipla allots equity shares
Jan 02,2017

Cipla announced that the Nomination and Remuneration Committee of the Company on 02 January 2017 allotted 18,542 equity shares of Rs. 2/- each pursuant to exercise of the stock options by the option grantees under Employee Stock Option Scheme 2013-A.

Consequently, the issued share capital of the Company stands increased to Rs. 1,61,08,32,634 comprising of 80,54,16,317 equity shares of face value Rs. 2/- each. The paid-up & subscribed share capital of the Company stands increased to Rs. 1,60,88,25,844 comprising of 80,44,12,922 equity shares of face value Rs. 2/- each.

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BS announces resignation of director
Jan 02,2017

BS announced that Mahesh Kumar Khera, Director of the Company, has resigned, vide his Letter dated 30 December 2016, from the Directorship of the Company with immediate effect.

The Board of Directors of the Company by way of a Circular Resolution passed today i.e. 02 January 2017, has accepted his resignation and consented to relieve Mahesh Kumar Khera of his duties and responsibilities vested by the Board as Director, with effect from 01 January 2017.

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Sita Shree Food Products announces demise of director
Jan 02,2017

Sita Shree Food Products announced that Suresh Narayan Wagh, Non Executive Independent Director of the Company has ceased to be the Director of the Company due to his sad demise on 01 January 2017.

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Lakshmi Vilas Bank announces launch of Pradhan Mantri Garib Kalyan Deposit scheme
Jan 02,2017

Lakshmi Vilas Bank has launched Pradhan Mantri Garib Kalyan Deposit Scheme, 2016 pursuant to the RBI notification dated 16 December 2016.

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ICICI Bank revises MCLR rates
Jan 02,2017

ICICI Bank has announced a reduction of 0.70% in I-MCLR benchmarks across tenures. The revised I-MCLR benchmarks effective from 03 January 2017 are provided below:

Overnight - 8.00%
One month - 8.00%
Three month - 8.10%
Six month - 8.15%
One year - 8.20%

Interest rate on all rupee loans sanctioned and credit limits renewed with effect from 01 April 2016 are priced with reference to I-MCLR benchmarks.

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Board of Shilpi Cable Technologies approves acquisition of UAE-based Gulf Aglow LED Lighting FZCO
Jan 02,2017

The Board of Shilpi Cable Technologies on 02 January 2017 approved the 100% acquisition of UAE-based Gulf Aglow LED Lighting FZCO (GAL). The deal gives SCTL a strong entry into the high growth LED market with an established partner that has license to sell under the renowned Westinghouse brand & owned brand n++GALUXn++ in 54 countries, and a vast manufacturing capability. SCTL has already established a wide presence in India in the B2C segment with its n++SAFEn++ brand which will now be used to grow in the LED segment. GALs extensive globalnetwork also becomes available to SCTL to grow SAFE. The acquisition is expected to be completed within three months subject to necessary regulatory approvals.

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