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CRISIL allots equity shares
Oct 15,2016

CRISIL announced that at the meeting of the Board of Directors held on 14 October 2016 the Company has allotted equity shares of CRISIL of face value of Re. 1/- each to the employees of the Company, as follows:-

1. 6,400 (Six Thousand, Four Hundred) equity shares pursuant to their exercising the stock options granted to them under the Employees Stock Option Scheme - 2011 (ESOS - 2011); and

2. 52,280 (Fifty Two Thousand, Two Hundred and Eighty) equity shares pursuant to their exercising the stock options granted to them under the Employees Stock Option Scheme - 2012 (ESOS -2012).

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State Bank of India plans to dilute 5% stake in SBI Life
Oct 15,2016

State Bank of India announced that the Executive Committee of the Central Board (ECCB) at its meeting held on 14 October 2016 has approved to dilute upto 5% stake of SBI in SBI Life to a non-promoter entity.

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IndusInd Bank decides to exercise call option for redemption of Tier II Bonds
Oct 15,2016

IndusInd Bank has decided to exercise Call Option for redemption of the Tier II Bonds - Series IX prior to maturity. The said bonds were issued by the bank on 30 September 2006 on private placement basis and the maturity date of bonds is 30 September 2021. The record date for payment of redemption proceeds is fixed as 03 November 2016 and the date of redemption is 18 November 2016.

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Hindustan Unilever fixes record date for interim dividend
Oct 15,2016

Hindustan Unilever has fixed 02 November 2016 as the Record Date for the purpose of Payment of Interim Dividend, if any.

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Kalyanpur Cements to hold board meeting
Oct 15,2016

Kalyanpur Cements will hold a meeting of the Board of Directors of the Company on 28 October 2016 to consider approving the Un-audited Financial Results of the Company for the quarter ended September 30, 2016.

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CNI Research to hold board meeting
Oct 15,2016

CNI Research will hold a meeting of the Board of Directors of the Company on 21 October 2016 to consider and take on record the Un-audited Financial Results of the Company for quarter ended September 30, 2016.

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Torrent Pharmaceuticals to hold board meeting
Oct 15,2016

Torrent Pharmaceuticals will hold a meeting of the Board of Directors of the Company on 26 October 2016.

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Saksoft to hold board meeting
Oct 15,2016

Saksoft will hold a meeting of the Board of Directors of the Company on 28 October 2016 to approve the unaudited standalone and Consolidated Financial Results of the Company and its Subsidiaries for the second quarter and half year ended September 30, 2016

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CRISIL to pay 3rd interim dividend
Oct 15,2016

CRISIL announced that the third interim dividend of Rs 7 per share for FY 2016 will be paid on 08 November 2016.

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ICICI Bank to hold board meeting
Oct 15,2016

ICICI Bank will hold a meeting of the Board of Directors of the Company on 14 October 2016.

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Ashirwad Steels & Industries to hold board meeting
Oct 15,2016

Ashirwad Steels & Industries will hold a meeting of the Board of Directors of the Company on 26 October 2016 to consider, approve and take on record the un-audited financial results for the quarter ended September 30, 2016 (subjected to Limited Review by the Statutory Auditors).

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Banaras Beads to hold board meeting
Oct 15,2016

Banaras Beads will hold a meeting of the Board of Directors of the Company on 27 October 2016.

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eClerx Services provides update on proposed buyback of shares
Oct 15,2016

eClerx Services announced that the Share Buyback Committee of Board of Directors of the Company at its meeting held on 14 October 2016, inter alia, have determined the Final Buyback Price of Rs. 2,000 (the n++Buyback Pricen++) and the final amount for Buyback to be Rs. 234 crore (the n++Buyback Sizen++) excluding the transaction costs viz. brokerage, applicable taxes such as securities transaction tax, service tax, stamp duty etc. With the Buyback price of Rs. 2,000 and Buyback Size of Rs. 234 crore, the total number of shares to be bought back in the Buyback shall be 1,170,000 Equity Shares, representing about 2.87% of the total issued and paid-up equity capital of the Company as on 31 March 2016.The aforesaid terms of Buyback are within the maximum limits approved by the Board of Directors at its meeting held on 29 August 2016, and as approved by shareholders by special resolution, through postal ballot, results of which were announced on 14 October 2016.

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Centre to establish logistic hubs near sea ports to promote exports: Nirmala Sitharaman
Oct 15,2016

The government is establishing logistic hubs near sea ports with private sector participation to relieve the issue of receiving stocks on the airport, seaport and movement of goods inland, Union Commerce Minister, Nirmala Sitharaman said at an ASSOCHAM event.

n++We are establishing logistic hubs nearer the sea ports, as many of them, I may not be able to give a final picture, I think this would address immediate concerns that would be sustainable in the long term,n++ said Sitharaman.

Highlighting the priority of the government to cut down on logistic challenges, she said that the Centre was trying to make electronic data interchanges at major ports that are completely under the control of Central Government.

n++In 36 landing areas, the regional authorities representing the DGFT (Director General of Foreign Trade) office have just initiated a two-day intensive workshop with them to see how best to reach out to exporters, how best to engage with exporters and CBEC (Central Board of Excise and Customs) is also part of this exercise,n++ said the Minister.

On the issue of 24x7 presence of DGFT and Customs authorities she said, n++We shall ensure that there shall not be a day wasted for import or export for some reason when there is a need for an authority to come in to certify or to question or to give clarification, for want of the presence of officers, trade shall not suffer, we shall attend to it.n++

Highlighting that a complete, comprehensive picture is being handled on the logistics front, she said that her ministry was engaging with railways to cut down costs.

She also informed that the review of Foreign Trade Policy (FTP) is underway. n++As of 2015 when FTP was brought out I remember making a clear statement so that there is a sense of stability in the minds of exporters that I shall not review the policy unless we reach the mid-term, the review has commenced. We are doing the FTP review.n++

Conceding that taxation was a key issue hampering exports growth, Sitharaman said, n++You cannot be paying tax over tax and exporters cannot be taxed for exporting, we recognize that difficulty and I know GST (Goods and Services Tax) alone cannot give us the solution, in fact the GST would raise the industrys ambition saying why taxation cannot be simplified and subsume many of tax into GST so that we handle only one.n++

Emphasizing that simplification of taxation was the governments top agenda, she said, n++We are trying to simplify, since it involves many states, we are also making sure that we take them on board.n++

On ease of doing business, she said that government was identifying more and more hurdles each year without which exporters, manufacturers would be better off.

n++We are working on it, it is something which is not going to be that easily brought to a closure, these are long term sustained efforts, which are not the glamorous side of big ticket reforms but the sustainable actions that we need to take in order to bring systemic reforms and we are at it,n++ said Ms Sitharaman.

She said that the Commerce Ministry was also working on sorting out currency related issues being faced by exporters. n++We are not leaving any one area, we are constantly in search of newer markets so that our exporters can benefit, I know the risks involved in some of the countries, these are issues we are working out.n++

On the issue of trade imbalance with China, the Minister said, n++Yesterday I have raised this issue with Chinese minister and not for the first time, we have had this dialogue since 2014 but I found yesterday, the minister was very forthcoming.n++

n++We have highlighted that the imbalance is not because of our industrys lack of competitiveness, they are competitive enough but access is not being made available to us,n++ said Ms Sitharaman.

She also informed about raising the issue of Indias information technology (IT) sector facing experience related issues in every region. n++You enter a country and not each region and that has been held against us, so we have highlighted the point. We have highlighted the fact that they could give us some pilot projects through which we can prove our capability.n++

However, she said that more time cannot be wasted. n++We have waited for two years, even after this new government has come in, China has been requested that they have to be a lot more open to receive Indian institutions which go there to do business.n++

She said that pharmaceuticals is one of the important areas, where China wants more services to be available. n++They want our drugs but unfortunately many of the permissions, certifications are not happening as quickly as they should.n++

The Union Minister also invited the industry to use the Dashboard of the Commerce Ministry for export and import related data more and more as that would also be influencing its policy making.

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Infomedia Press appoints CFO
Oct 15,2016

Infomedia Press announced that the Board of Directors of the Company at its meeting held on 14 October 2016 approved appointment of Sushil Jain as the Chief Financial Officer of the Company with effect from 14 October 2016.

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