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UPL to hold board meeting
Oct 18,2016

UPL will hold a meeting of the Board of Directors of the Company on 28 October 2016 to consider and take on record the Unaudited Financial Results of the Company for the quarter ended September 30, 2016 (Q2).

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Sarla Performance Fibers to hold board meeting
Oct 18,2016

Sarla Performance Fibers will hold a meeting of the Board of Directors of the Company on 27 October 2016 for taking on record the un-audited financial results for the 2nd quarter and half year ended September 30, 2016.

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Ramgopal Polytex to hold board meeting
Oct 18,2016

Ramgopal Polytex will hold a meeting of the Board of Directors of the Company on 26 October 2016 to consider and take on record the Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2016.

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Capital Trust to hold board meeting
Oct 18,2016

Capital Trust will hold a meeting of the Board of Directors of the Company on 24 October 2016 to consider and approve un-audited financial results of the company for the quarter ended September 30, 2016.

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Over-dependence on China for key pharma raw material worrying: ASSOCHAM Paper
Oct 18,2016

India may have emerged as a key supplier of generic and affordable medicine for the world market, its overwhelming dependence on China for a crucial raw material , known as Active Pharmaceutical Ingredient (API) to the extent of over 65 per cent of the requirement, has emerged as a main worrying area, an ASSOCHAM-RNCOS joint paper has noted.

This is all the more disconcerting in the face of louder narrative against reducing trade gap with China which is well over USD 51 billion, adds the ASSOCHAM study.

The API is the organ by which active pharmaceutical ingredients are manufactured from raw materials through both chemical and physical means. While rapid growth in new medical technologies is spurring the demand for APIs worldwide today with the increased import of raw pharma ingredients from the emerging markets, n++ Indias rising dependence on imports from China for many APIs that go into the making of a number of essential drugs has been cited as an area of concern for the policy makersn++.

Though the government has taken steps like withdrawal of exemption in customs duties , imports worth Rs 13,853 crore in 2015-16 or 65.29 per cent of the total imports of Rs 21,216 crore are not sustainable. n++Over-dependence on China for APIs is likely to affect the bulk drug manufacturing sector, and subsequently have an impact on our population in plausible scenarios of drug shortages brought down by interrupted imports from single source countryn++, ASSOCHAM Secretary General Mr D S Rawat said, adding over-dependence on such a crucial raw material on a single country is also not advisable from Indias overall strategic interests as well.

One of the main reasons for huge API imports from China is low cost of its manufacture and subsidy in China while India levies negligible import fee . n++The import fees should be increased in line with other counterpartsn++, the paper said.

The chamber said there is presence of multiple regulatory authorities for the industry. The API manufacturers have to approach different authorities for renewal of licences that become a tedious affair. n++Therefore a single committee of various government departments should be formed to regulate the industry through a single window and audit of plantsn++.Besides, the Centre can focus on development of mega parks for APIs across the country. These parks should be provided with common facilities such as effluent treatment plants, testing, power plants, IPR management and designing. These facilities should be maintained by special purpose vehicles.

Several other countries like China provide incentives and subsidies for promoting the manufacture of essential pharmaceutical raw material. This significantly reduces their cost of production and ability to supply API to the world market at a huge discount to the global prices. This discourages new domestic investment in the sector.

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Indian Hume Pipe Company spurts as board to consider bonus issue
Oct 18,2016

The announcement was made after market hours yesterday, 17 October 2016.

Meanwhile, the S&P BSE Sensex was up 193.02 points, or 0.7%, to 27,722.99

On BSE, so far 18,000 shares were traded in the counter, compared with average daily volume of 10,299 shares in the past one quarter. The stock hit a high of Rs 785 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 747 so far during the day. The stock hit a 52-week low of Rs 272.50 on 29 February 2016.

The small-cap company has equity capital of Rs 4.84 crore. Face value per share is Rs 2.

Indian Hume Pipe Companys net profit jumped 311.39% to Rs 26 crore on 110.72% rise in net sales to Rs 447.07 crore in Q1 June 2016 over Q1 June 2015.

Indian Hume Pipe Company is engaged in the business of providing integrated water supply schemes including manufacturing, laying and jointing of pipelines of various pipe materials which provide infrastructure facility for development of water supply and irrigation projects.

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Outcome of board meeting of Ojas Asset Reconstruction Company
Oct 18,2016

Ojas Asset Reconstruction Company announced that the Board of Directors of the Company at its meeting held on 17 October 2106 has approved the following -

Change the name of the Company to Radical Commerce.

Change the main object and ancillary objects of the Company and deletion of existing other objects of the Company.

Authorised Board for making loan and investments, granting of guarantees etc. in excess of limit prescribed and up to Rs 75 crore.

Accepted resignation of Dimple Rathod and appoint Amruta Shigwan as woman director and CFO of the Company.

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Outcome of board meeting of Niraj Cement Structurals
Oct 18,2016

Niraj Cement Structurals announced that the Board of Directors of company at their meeting held on 17 October 2016, inter alia, discussed and approved the followings:

1. Appointment of Gulshan Vijaykumar Chopra as Managing Director.

2. Preferential offer and issue of up to 1,50,00,000 (One Crore Fifty Lacs) Warrants, convertible into equivalent number of Equity Shares of Rs. 10/- each to the promoter and promoter group subject to the required approvals.

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Genera Agri Corp gets extension to hold AGM
Oct 18,2016

Genera Agri Corp gets extension to hold AGM upto 31 December 2016.

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Board of Vikas WSP appoints company secretary
Oct 18,2016

Vikas WSP announced that the Board of Directors at their Meeting held as on 05 September 2016, has appointed Gunjan Kumar Karn as Company Secretary & Compliance Officer of the Company.

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Axis Bank gains after announcing reduction in MCLR
Oct 18,2016

The announcement was made after market hours yesterday, 17 October 2016.

Meanwhile, the S&P BSE Sensex was up 200.45 points or 0.73% at 27,730.42

On BSE, so far 46,000 shares were traded in the counter as against average daily volume of 7.59 lakh shares in the past one quarter. The stock hit a high of Rs 528.20 and a low of Rs 523 so far during the day. The stock had hit a 52-week high of Rs 638 on 7 September 2016. The stock had hit a 52-week low of Rs 366.65 on 18 January 2016.

The large-cap private sector bank has equity capital of Rs 478.08 crore. Face value per share is Rs 2.

Axis Banks net profit fell 21.38% to Rs 1555.53 crore on 13.22% growth in total income to Rs 13852.18 crore in Q1 June 2016 over Q1 June 2015.

Axis Bank said that the banks marginal cost of funds based lending rate (MCLR) for overnight loans will be 8.8%, the rate for one month will be 8.85% and for three months it will be 9.05%. The MCLR on 6-month loans will be 9.15% and for one-year loans the rate will be 9.2%, the bank said. MCLR on two-year loans will be 9.3% and for three-year loans the rate will be 9.35%. The announcement was made after market hours yesterday, 17 October 2016. Separately, Axis Bank announced that it has received request for redemption of $46 million - 7.167% Callable Hybrid Tier I Notes. The Notes were issued on 15 November 2006.

Axis Bank is one of the biggest private sector banks in India.

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RPG Life Sciences allots equity shares
Oct 18,2016

RPG Life Sciences announced that the Nomination and Remuneration Committee of the Board of Directors has on 17 October 2016 allotted 2910 Equity Shares of Rs. 8/- each fully paid-up to the employee of the Company, on exercise of Stock Option.

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Outcome of board meeting of Inani Marbles & Industries
Oct 18,2016

Inani Marbles & Industries announced that Board of Director of the Company at its meeting held on 17 October 2016, inter alia, has considered and approved of the following business:

1. Resignation of Nitin Kumar Nyati as Chief Financial Officer of the Company.

2. Appointment of Mahesh Kumar Inani as additional Director.

3. Appointment of Vandana Balmukund Gattani as Additional Director.

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Shares of Diksat Transworld get listed
Oct 18,2016

The equity shares of Diksat Transworld (Scrip Code: 540151) are listed effective 18 October 2016 and admitted to dealings on the Exchange in the list of M Group Securities.

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Shares of India Green Reality get listed
Oct 18,2016

The equity shares of India Green Reality (Scrip Code: 540152) are listed effective 18 October 2016 and admitted to dealings on the Exchange in the list of MT Group Securities.

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