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Sun Pharma invests in preference stock of US pharma company - scPharmaceuticals Inc.
Dec 23,2016

Sun Pharmaceutical Industries announced that one of the wholly owned subsidiaries of the Company has acquired 13,000,000 Series B Preferred Stock of scPharmaceuticals Inc. (equivalent to 14.58% fully diluted equity stake on conversion) by way of allotment.

scPharmaceuticals Inc., incorporated in 2014, is a United States pharmaceutical company developing a portfolio of transformativepharmaceutical products for subcutaneous delivery. Its lead products are the first subcutaneous formulations of furosemide (the most widelyused parenteral diuretic in treating heart failure) and ceftriaxone (the most widely used parenteral antibiotic outside the hospital setting).

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Yes Bank receives ratings for Basel III compliant ATI Bonds for additional Rs 1500 cr
Dec 23,2016

Yes Bank has received ratings for an additional amount of Rs 1500 crore of Basel III compliant ATI (Additional Tier - I) Bonds. This takes the quantum of rated Basel III compliant ATI Bonds to Rs 3600 crore.

CARE Ratings - CARE AA with Stable Outlook

India Ratings & Research - Ind AA with Stable Outlook

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Hinduja Ventures gains after board approves stake sale in Hinduja Energy (India)
Dec 23,2016

The announcement was made after market hours yesterday, 22 December 2016.

Meanwhile, the BSE Sensex was down 3.44 points, or 0.01%, to 25,976.16.

On the BSE, so far 25 shares were traded in the counter, compared with average daily volumes of 3,109 shares in the past one quarter. The stock had hit a high of Rs 521.25 and a low of Rs 507 so far during the day.

The stock hit a 52-week high of Rs 600.70 on 1 November 2016. The stock hit a 52-week low of Rs 365.10 on 12 February 2016. The stock had outperformed the market over the past 30 days till 22 December 2016, falling 0.23% compared with the 0.28% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 8.90% as against Sensexs 9.38% decline.

The small-cap company has equity capital of Rs 20.56 crore. Face value per share is Rs 10.

Hinduja Ventures said that its board of directors has approved the disinvestment of 4.36 crore equity shares of Rs 10 each held by the company in Hinduja Energy (India), in tranches, as per independent valuation of Rs 31.58 per share to third party.

Net profit of Hinduja Ventures declined 0.04% to Rs 28.19 crore in Q2 September 2016 over Q2 September 2015. Net sales was reported at Rs 51.95 crore in Q2 September 2016. No sales were reported in Q2 September 2015.

Hinduja Ventures operates across three segments: media and communication, real estate, and investment and treasury.

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Wipro reaches an agreement with US Securities and Exchange Commissions
Dec 23,2016

Wipro announced that it has reached an agreement with the US Securities and Exchange Commission to formally resolve the previously disclosed six-year old investigation. Under the terms of the settlement, the Company consents to pay a civil money penalty of USD 55 million, to cease and desist from committing or causing violations of the Exchange Act, and to undertake certain follow through actions.

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Redington India provides update on subsidiary - ProConnect
Dec 23,2016

Redington India announced that the Company have been informed by ProConnect Supply Chain Solutions (ProConnect), a wholly owned subsidiary of the Company that it had increased its stake in Rajprotim Supply Chain Solutions (a subsidiary of ProConnect) from 50% to 76%.

Further ProConnect has entered into a Share Purchase agreement with an option to purchase the balance 24% shares in RCS in two tranches on an earn out model basis before 30 September 2020.

Further the Company has informed that, this investment in RCS will enable ProConnect to expand its Supply Chain business in Eastern Region of India resulting in bringing net new businesses. In addition the Company expect that this would bring in synergy for ProConnect across other regions in India.

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JSW Energy will be watched on plan to raise funds
Dec 23,2016

JSW Energy said that its board will meet on 27 December 2016, to consider raising long term funds through the issuance of non-convertible debentures by way of a private placement. The announcement was made after market hours yesterday, 22 December 2016.

Hinduja Ventures said that its board of directors has approved the disinvestment of 4.36 crore equity shares of Rs 10 each held by the company in Hinduja Energy (India), in tranches, as per independent valuation of Rs 31.58 per share to third party. The announcement was made after market hours yesterday, 22 December 2016.

Suzion Energy announced a joint venture with the AMP Solar for the development and construction of a 15 megawatts (MW) solar pv project located at Achampet in Telangana. According to the contract signed between Suzlon Energy and the AMP Solar on 21 December 2016, the AMP Solar shall acquire a 49% stake in Rudra Solarfarms, a special purpose vehicle (SPV) set up by Suzlon for executing this project. AMP Solar has the option to acquire the balance of the 51% stake in the SPV in the future in accordance with the relevant rules and regulations. The off taker of the SPV project will be the Telangana State Southern Power Distribution Company (TSSPDCL). Suzion will be responsible for project commissioning and to provide comprehensive operation and maintenance services for a period of 25 years. The project is expected to be commissioned in the financial year 2017 (FY 2017). Suzlon won solar projects of 210 MW in Telangana through a competitive bidding process and the power purchase agreements (PPAs) for the same were signed in February 2016. These include one project of 100 MW, one of 50 MW and four projects of 15 MW each. The announcement was made after market hours yesterday, 22 December 2016.

Voltamp Transformers said that few of contract workmen at the companys Savli factory situated at Village Vadadala in Vadodara, Gujarat resorted to violent act on 20 December 2016 with the companys production supervisors, outside factory premise. The company suspended Savli factory operations effective from 21 December 2016 to ensure safety and security of the companys employees and property. However, operations at the companys Makarpura factory situated at Vadodara, Gujarat are totally normal. The announcement was made after market hours yesterday, 22 December 2016.

Karnataka Bank said it opened its 738th branch at Thakurli in Thane district on 22 December 2016.

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Maruti Suzuki India announces change in directorate
Dec 22,2016

Maruti Suzuki India announced that pursuant to the resolution passed by the board through circulation on 22 December 2016, Toshiaki Hasuike has ceased to be a Whole-time Director designated as Joint Managing Director with effect from the close of business hours of 19 November 2016. However, he continues as a non-executive director.

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Galaxy Consolidated Finance appoints company secretary and compliance officer
Dec 22,2016

Galaxy Consolidated Finance announced that Zalak Gajjar appointed as the Company Secretary and Compliance Officer of the Company with effect from 21 December 2016.

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McDowell Holdings announces resignation of director
Dec 22,2016

McDowell Holdings announced that N. Srinivasan Director of the Company has resigned from the office of Director of the Company.

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Suzlon Energy forms JV with AMP Solar
Dec 22,2016

Suzlon Energy announced a joint venture with AMP Solar for the development and construction of a 15 MW solar PV project located at Achampet, Mahaboobnagar District, Telangana.

Suzlon will be responsible for project commissioning and to provide comprehensive operations and maintenance services for a period of 25 years. The project is expected to be commissioned in the FY 2017.

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Schrader Duncan announces resignation of director
Dec 22,2016

Schrader Duncan announced that Shantanu Parvati, Whole Time Director of the Company vide his letter dated 22 December 2016 has resigned from the Company with effect from the close of working hours of 31 January 2017.

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Board of Mahalaxmi Rubtech approves preferential allotment of convertible warrants
Dec 22,2016

Mahalaxmi Rubtech announced that the Board of Directors of the Company at its meeting held on 22 December 2016 approved allotment of 45 lakh warrants convertible into equity shares at an issue price of Rs 45 per warrant on preferential basis.

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Board of Hinduja Ventures approves subscription to rights issue of Hinduja Leyland Finance
Dec 22,2016

Hinduja Ventures announced that the Board of Directors of the Company at its meeting held on 22 December 2016 approved the subscription to -

- 16,57,408 equity shares of Rs 10 each offered to the Company by Hinduja Leyland Finance on rights basis at a price of Rs 79 per share.

- 11,394 equity shares renounced in favour of the Company at a price of Rs 79 per share.

The Companys shareholding after subscription to equity shares on rights basis and equity shares renounced will increase to 2,15,57,692 equity shares which would be equivalent to 5.23% on the enhanced equity paid up capital of Hinduja Leyland Finance. The percentage of holding remains unchanged on the enhanced equity paid up capital of Hinduja Leyland Finance.

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Welplace Portfolio & Financial Consultancy Services allots equity shares
Dec 22,2016

Welplace Portfolio & Financial Consultancy Services announced that the Board of Directors of the Company at its meeting held on 22 December 2016 has allotted 1,12,55,800 equity shares of face value of Rs 10 each to proposed allottees who are non-promoters.

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Board of Chromatic India to consider appointment of director
Dec 22,2016

Chromatic India announced that a Meeting of the Board of Directors of the Company will be held on 30 December 2016, inter alia, to consider the following changes in the Board of Directors of the Company :

- Appointment of Mayank Kotadia on the Board of Directors of the Company.

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