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Aliviras Animal Health API facility gets USFDA approval
May 02,2017

Sequent Scientific announced that Alivira has received US FDA approval for its Animal Health API facility at Visakhapatnam, Andhra Pradesh.

This ~225KL capacity multi-product facility at Vizag was inspected for the first time by USFDA in November 2016 and has now received Establishment Inspection Report (EIR) from US FDA. The receipt of the EIR will enable Aliviras entry into $8 billion US veterinary healthcare market.

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GPT Infraprojects fixes record date for 2nd interim dividend
May 02,2017

GPT Infraprojects has fixed 11 May 2017 as record date for second interim dividend.

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Board of Scandent Imaging approves expansion of business
May 02,2017

Scandent Imaging announced that the Board of Directors of the company at its meeting held on 02 May 2017 approved the expansion of business into primary healthcare and support services. The Company intends to open new Family Care centers to provide modern day convenience, care and basic support to masses.

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Reliance Infrastructure InViT Fund files updated DRHP with SEBI and exchanges
May 02,2017

Reliance Infrastructure announced that Reliance Infrastructure InvIT Fund has filed an updated draft offer document with the SEBI, BSE and NSE on 28 April 2017 of the initial public offer of units representing an undivided beneficial interest in the Trust, in accordance with the InvIT Regulations. The revised proposed issue size is Rs 2500 crore with an option to retain over-subscription up to 25% of the issue size.

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Outcome of board meeting of RBL Bank
May 02,2017

RBL Bank announced that the Board of Directors of the Bank at its meeting held on 02 May 2017 has inter-alia, approved the following:
1. Audited Standalone Financial Statements for the quarter and year ended 31 March 2017.
2. Audited Consolidated Financial Statements for the year ended 31 March 2017.
3. Recommended payment of final dividend @ 18% i.e. Rs. 1.80/- per equity share to be payable after approval of the shareholders at the ensuing Annual General Meeting.
4. Issue of Debt Securities on Private Placement basis

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Indian Bank plans to issue long term bonds up to Rs 5000 crore
May 02,2017

Indian Bank announced that a proposal for issue of Long Term Bonds for financing of Infrastructure and Affordable Housing upto an amount of Rs.5,000 crore will be taken up for the approval of the Board in the Meeting of the Board of Directors of the Bank, scheduled to be held on 05 May 2017.

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Shriram Transport Finance Company considers raising of funds
May 02,2017

Shriram Transport Finance Company announced that the Company is considering raising of funds through various options of borrowings including by way of issue of securities in onshore/offshore market on private placement basis. Based on the market conditions the meeting(s) of Banking and Finance Committee/Debt Issuance Committee will be held during the current month ending 31 May 2017 to consider and approve the terms and conditions of such borrowings.

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Nestle India launches MAGGI Masalas of India Noodles range
May 02,2017

Nestle India announced the launch of its MAGGI Masalas of India Noodles range. The new range of MAGGI noodles consist of four new flavours - Amritsari Achari, Mumbaiya Chatak, Super Chennai and Bengali Jhaal.

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Ashok Leyland provides update on scheme of amalgamation
May 02,2017

Ashok Leyland has received the National Company Law Tribunal (NCLT), Chennai Bench approval vide order dated 24 April 2017 for Scheme of Amalgamation of Hinduja Foundries with Ashok Leyland.

Ashok Leyland and Hinduja Foundries have filed e-Form No INC-28 with the Registrar of Companies (RoC), Chennai along with the Certified True Copy of the Order on 28 April 2017. Accordingly, the Scheme has become effective from 28 April 2017 with the appointed date of 01 October 2016.

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Sagar Cements bags Best Management Award 2017
May 02,2017

Sagar Cements has been conferred with Best Management Award by the Government of Telangana for year 2017. It is also the second time that the Company has received this award.

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Nikkei India Manufacturing PMI rises for fourth straight month in April 2017
May 02,2017

Manufacturing conditions in India improved for the fourth straight month in April. The upturn was signalled by the headline Nikkei India Manufacturing Purchasing Managers IndexTM (PMITM) - a diffusion index designed to measure the performance of the sector - matching Marchs reading of 52.5. Slower increases in output, stocks of purchases and employment were offset by stronger growth of new orders and lengthening delivery times.

Survey participants attributed new business wins to improving demand conditions and greater advertising. Overall, the upturn in order books was the most pronounced since last October. New export orders rose for the third month in a row, but the rate of expansion eased from March and was slight overall. Concurrently, output grew solidly, though growth softened slightly since the preceding survey period.

Manufacturing jobs rose for the second consecutive month in April, which panellists related to a combination of greater production needs and expectations of a pick up in demand. Nonetheless, the pace of employment growth remained slight overall.

Goods producers signalled a further accumulation of outstanding business, the eleventh in as many months. That said, the rate of expansion eased to the weakest in this sequence and was only slight. Where backlogs increased, survey members reported pending client payments.

Stocks of finished goods dropped for the twenty-second month running during April. However, the rate of depletion slowed to the weakest in the year-to-date. According to panel members, orders were sometimes met from stocks.

The amount of raw materials and semi-finished goods purchased by Indian manufacturers rose in April, in line with the trend recorded throughout the past four months. The rate of expansion was, however, modest and weakened from that seen in March. Stocks of purchases continued to rise, albeit growth eased from the preceding survey period.

Suppliers delivery times lengthened in April, amid reports of lorry strikes. The deterioration in vendor performance was only marginal, but reversed the improvement recorded in March.

Purchasing costs increased for the nineteenth consecutive month in April, with panellists reporting higher prices paid for metals, chemicals and plastics. The rate of cost inflation gathered pace since March and was above the average recorded over the current sequence of rises.

Less than 5% of manufacturers raised their output prices in April, while almost 93% signalled no change. Where selling prices were raised, there were reports of the passing on of higher cost burdens to clients. Firms that reduced charges mentioned attempts to win new customers.

Finally, goods producers were at their most optimistic since last November, with capacity expansion plans, new product developments, greater advertising and favourable market conditions expected to underpin output growth in the year ahead.

Commenting on the Indian Manufacturing PMI survey data, Pollyanna De Lima, Economist at IHS Markit and author of the report, said: Buoyant domestic demand coupled with sustained growth of new orders from abroad boosted the upturn in total new business received by Indian manufacturers in April. Having recovered at the beginning of the year from Decembers demonetisation-related contraction, growth of order books has gathered pace in each month since.

Job seekers in the sector were presented with further employment opportunities, while firms also continued to engage in purchasing activity and scaled up production again.

Scratching beneath the surface we can see that consumers were the key drivers of growth as consumer goods producers registered by far the steepest expansions in both production and new orders.

n++The outlook appears encouraging too, with output expected to remain on an upward trajectory amid reports of planned capacity expansions, new product launches, aggressive marketing campaigns and an improving economic scenario.

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Eight Core infrastructure sector output up 5% in March 2017
May 02,2017

The Eight core infrastructure industries, comprising nearly 38% of the weight of items included in the Index of Industrial Production (IIP), showing healthy 5% increase in production for March 2017. Its production has moved up 4.5% in FY2017 over FY2016.

Coal production (weight: 4.38%) increased by 10.0% in March 2017 over March 2016. Its cumulative index during April to March 2016-17 increased 3.6% over corresponding period of previous year.

Crude Oil production (weight: 5.22%) increased by 0.9% in March 2017 over March 2016. Its cumulative index during April to March 2016-17 declined 2.5% over the corresponding period of previous year.

The Natural Gas production (weight: 1.71%) increased by 8.3% in March 2017 over March 2016. Its cumulative index during April to March 2016-17 declined 1.1% over the corresponding period of previous year.

Petroleum Refinery production (weight: 5.94%) declined by 0.3% in March 2017 over March 2016. Its cumulative index during April to March 2016-17 increased 5.4% over the corresponding period of previous year.

Fertilizer production (weight: 1.25%) declined by 0.8% in March 2017 over March 2016. Its cumulative index during April to March 2016-17 increased 1.8% over the corresponding period of previous year.

Steel production (weight: 6.68%) increased by 11.0% in March 2017 over March 2016. Its cumulative index during April to March 2016-17 increased 9.3% over the corresponding period of previous year.

Cement production (weight: 2.41%) declined by 6.8% in March 2017 over March 2016. Its cumulative index during April to March 2016-17 declined 1.3% over the corresponding period of previous year.

Electricity generation (weight: 10.32%) increased by 5.9% in March 2017 over March 2016. Its cumulative index during April to March 2016-17 increased 5.1% over the corresponding period of previous year.

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Karnataka Bank opens branch at Kottayam, Kerala
May 02,2017

Karnataka Bank has opened its 766th branch at Kottayam, Kerala on 02 May 2017.

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Board of Kitex Garment approves further investment in Kitex USA LLC
May 02,2017

Kitex Garment announced that the Board of Directors at its meeting held on 28 April 2017 has approved further investment upto $ 1.5 million in the capital of Kitex USA LLC for the FY 2017-18.

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Aditya Vision to hold board meeting
May 02,2017

Aditya Vision will hold a meeting of the Board of Directors of the Company on 8 May 2017, to consider and approve Standalone Financial Results for the period ended 31 March 2017.

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