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Cimmco advances after trimming losses in Q2
Dec 15,2016

The result was announced after market hours yesterday, 14 December 2016.

Meanwhile, the S&P BSE Sensex was up 123.11 points or 0.46% at 26,725.95.

On the BSE, 1,360 shares were traded in the counter so far as against average daily volume of 10,589 shares in the past one quarter. The stock had hit a high of Rs 68.55 and a low of Rs 65.55 so far during the day.

The small-cap company has equity capital of Rs 20.15 crore. Face value per share is Rs 10.

Cimmcos net total income from operations jumped 519% to Rs 43.70 crore in Q2 September 2016 over Q2 September 2015.

Cimmco is engaged in the manufacturing and selling of railway wagons and heavy engineering products.

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Larsen & Tourbo Infotech recognised as Leader in Application Outsourcing Sevices
Dec 15,2016

Larsen & Tourbo Infotech has been cited as a Leader in the Forrester Wave Application Outsourcing Capabilities of Midsize Offshore Vendors, Q4 2016.

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Infosys firms up after making investment in startup providing UAV solutions
Dec 15,2016

The announcement was made after market hours yesterday, 14 December 2016.

Meanwhile, the S&P BSE Sensex was up 99.08 points or 0.37% at 26,701.92.

On the BSE, 74,325 shares were traded in the counter so far as against average daily volume of 1.42 lakh shares in the past one quarter. The stock had hit high of Rs 1,018.90 and low of Rs 993.50 so far during the day.

IdeaForges high performance Unmanned Aerial Vehicle (UAV), which have been designed and built in India, have significant potential in industrial use cases.

The investment is subject to receipt of regulatory approvals and customary closing conditions.

Infosys consolidated net profit rose 4.9% to Rs 3606 crore on 3.1% growth in revenue to Rs 17310 crore in Q2 September 2016 over Q1 June 2016.

Infosys is one of the leading information technology outsourcing services providers. The company provides business consulting, information technology and outsourcing services.

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Cipla gains after subsidiary forms a pharma joint venture in Iran
Dec 15,2016

The announcement was made after market hours yesterday, 14 December 2016.

Meanwhile, the S&P BSE Sensex was up 97.89 points or 0.37% at 26,700.73.

On the BSE, 18,438 shares were traded in the counter so far as against average daily volume of 1.42 lakh shares in one quarter. The stock had hit a high of Rs 576.20 and a low of Rs 569 so far during the day. The stock had hit a 52-week high of Rs 660 on 29 December 2015. The stock had hit a 52-week low of Rs 458.25 on 25 May 2016.

The stock had outperformed the market over the past one month till 14 December 2016, gaining 3.41% compared with the Sensexs 0.81% fall. The scrip had also outperformed the market in past one quarter, declining 1.42% as against the Sensexs 6.24% fall.

The large-cap company has equity capital of Rs 160.85 crore. Face value per share is Rs 2.

Cipla announced that Cipla Holding B.V., a wholly owned subsidiary of the company in Netherlands, Cipla Netherlands, has entered into a joint venture agreement with its joint venture partner, Ahran Tejarat Company.

Cipla Netherlands will hold a 75% stake in a joint venture company in Iran while Ahran Tejarat will hold the remaining 25% stake. The expected investment by Cipla Netherlands is estimated to be a maximum of Euro 16.875 million.

The joint venture company proposes to undertake manufacturing and marketing of pharmaceutical products in Iran.

As part of the transaction, Issat Company, an existing company in Iran incorporated on 19 January 1998 and currently owned by Ahran Tejarat, is proposed to be used as the JV company for the purposes of the transaction.

Issat Company has a valid pharmaceutical manufacturing license in Iran and also owns certain fixed asset but has not undertaken any business activity since incorporation and as a result does not currently have any turnover.

Cipla Netherlands will initially acquire a 75% stake in Issat Company from the JV partner for a consideration of Euro 1.35 million payable in cash and the balance amount of upto Euro 15.52 million is expected to be infused by Cipla Netherlands into Issat Company as equity over next one year period.

The acquisition is expected to be completed by March 2017, subject to completion of conditions precedent and applicable regulatory approvals.

Separately, Cipla announced that a meeting of the board of directors of the company is scheduled to be held on 19 December 2016, to consider the proposal of raising funds through issue of equity shares or American depository receipts or global depository receipts or foreign currency convertible bonds or non-convertible debentures- in the form of bonds or otherwise or bonds or any other securities/financial instruments, whether denominated in Indian Rupee and/or foreign currency(ies), either by way of a public issue or by way of a private placement, including through a qualified institutions placement in accordance with the provisions of the applicable law.

The fund raising would be subject to necessary permissions, sanctions and approvals, including shareholders approval and such other statutory approvals as may be required and the provisions of the laws.

On a consolidated basis, Ciplas net profit dropped 34.7% to Rs 354.34 crore on 8.7% rise in net sales to Rs 3671.88 crore in Q2 September 2016 over Q2 September 2015.

Cipla is a global pharmaceutical company.

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Board of Prime Focus approves change in directorate
Dec 15,2016

Prime Focus announced that the Board of Directors of the Company at its meeting held on 14 December 2016 transacted the following -

Noted resignation of Nainesh Jaisingh, Director with effect from 14 December 2016. Consequently, Vibhav Parikh ceases to act as an Alternate Director of the Company on the same day.

Approved appointment of Udai Dhawan as Director of the Company with effect from 14 December 2016.

Approves appointment of Samu Deverajan as Independent Director of the Company with effect from 14 December 2016.

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Board of Ankit Metal & Power approves change in direcorate
Dec 15,2016

Ankit Metal & Power announced that the Board of Directors of the Company at its meeting held on 14 December 2016 commenced at 10:20 p.m. and concluded at 10:45 p.m. had approved the following matters:

1. The Board of Directors had received a resignation letter from Rohit Jam, Independent Director dated 05 December 2016 and placed the same in the Board Meeting held on 14 December 2016. His resignation is accepted effective from 14 December 2016.

2. The Board of Directors has appointed Ankit Jam as Independent Director w.e.f. 14 December 2016.

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Axis Bank climbs up after board approves allotment of debentures
Dec 15,2016

The announcement was made after market hours yesterday, 14 December 2016.

Meanwhile, the BSE Sensex was down 60.39 points, or 0.23%, to 26,542.45.

On the BSE, 31,213 shares were traded in the counter so far, compared with average daily volume of 7.15 lakh shares in the past one quarter. The stock had hit a high of Rs 469.50 and a low of Rs 456.10 so far during the day.

Axis Bank said that the board of directors approved the allotment of 35,000 unsecured, subordinated, perpetual additional tier 1, Basel III compliant non convertible debentures (Series - 26) of face value of Rs 10 lakh each aggregating Rs 3500 crore on private placement basis.

Axis Banks net profit declined 83.3% to Rs 319.08 crore on 14.1% growth in total income to Rs 13698.77 crore in Q2 September 2016 over Q2 September 2015.

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

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Cipla provides update on subsidairy - Cipla Netherlands
Dec 15,2016

Cipla announced that, Cipla Holdings B.V., a wholly owned subsidiary of the Company in Netherlands (Cipla Netherlands) has entered into a joint venture agreement with Ahran Tejarat Company (JV Partner).

As per the agreement, Cipla Netherlands will hold 75% stake in a JV company in Iran while the JV partner shall hold the remaining 25% stake. The total expected investment of Cipla Netherlands in cash in the JV company is estimated at being up to a maximum of Euro 16.875 million. The JV company proposes to undertake manufacturing and marketing of pharmaceutical products in Iran.

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IVRCL announces appointment of nominee director
Dec 15,2016

IVRCL announced that Rajeev N. Mehra has been appointed as Nominee Director of State Bank of India (Monitoring Institution under CDR mechanism) by the Board of Directors at their meeting held on 14 December 2016.

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Board of Scanpoint Geomatics approves rights issue
Dec 15,2016

Scanpoint Geomatics announced that the Board of Directors of the Company at its meeting held on 14 December 2016, considered and accorded a fresh approval, subject to necessary approvals as may be required, to issue equity shares by way of right issue to the existing shareholders of the Company for an amount in aggregate up to Rs. 30 crore in accordance with the provisions of the Companies Act, 2013, Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended and other applicable laws, rules and regulations.

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Board of Rohit Ferro Tech approves change in directorate
Dec 15,2016

The Board of Directors of Rohit Ferro Tech at its meeting held on 14 December 2016 has accepted the resignation of Rohit Jain as Independent Director with effect from 14 December 2016 and approved the appointment of Ankit Jain as Independent Director with effect from 14 December 2016.

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Shares of Sparkling (India) Finshare get listed
Dec 15,2016

The equity shares of Sparkling (India) Finshares (Scrip Code: 540211) are listed effective 15 December 2016 and admitted to dealings on the Exchange in the list of XT Group Securities.

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Shares of TCI Express get listed
Dec 15,2016

The equity shares of TCI Express (Scrip Code: 540212) are listed effective 15 December 2016 and admitted to dealings on the Exchange in the list of T Group Securities.

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Cipla may gain after subsidiary forms a pharma joint venture in Iran
Dec 15,2016

Cipla announced that Cipla Holding B. V., a wholly owned subsidiary of the company in Netherlands, Cipla Netherlands, has entered into a joint venture agreement with Ahran Tejarat Company. The announcement was made after market hours yesterday, 14 December 2016. Cipla Netherlands will hold a 75% stake in a joint venture company in Iran while Ahran Tejarat will hold the remaining 25% stake. Investment by Cipla Netherlands is estimated to a maximum of Euro 16.875 million. The joint venture proposes to undertake manufacturing and marketing of pharmaceutical products in Iran.

Separately, Cipla announced that a meeting of the board of directors of the company is scheduled to be held on 19 December 2016, to consider the proposal of raising funds through issue of equity shares or American depository receipts or global depository receipts or foreign currency convertible bonds or non-convertible debenture (in form of bonds or otherwise) or bonds or any other securities/financial instruments, whether denominated in Indian Rupee and/or foreign currency(ies), either by way of a public issue or by way of a private placement (including through a qualified institutions placement) in accordance with the provisions of the applicable law. The fund raising would be subject to necessary permissions, sanctions and approvals (including shareholders approval and such other statutory approvals as may be required) and the provisions of the laws.

Axis Bank announced that its board of directors at its meeting held yesterday, 14 December 2016, approved the allotment of non-convertible debentures aggregating to Rs 3500 crore on a private placement basis. The debentures will be listed on the wholesale debt market segment of the BSE and National Stock Exchange of India. The announcement was made after market hours yesterday, 14 December 2016.

Infosys announced that it has made an investment from its Innovation Fund in IdeaForge, an Indian startup focused on Unmanned Aerial Vehicle (UAV) solutions. IdeaForges high performance UAVs, which have been designed and built in India, have significant potential in industrial use cases. The investment is subject to receipt of regulatory approvals and customary closing conditions. The announcement was made after market hours yesterday, 14 December 2016.

Unitech reported consolidated net loss of Rs 13 crore in Q2 September 2016 compared with consolidated net loss of Rs 65.70 crore in Q2 September 2015. Total income dropped 42.27% to Rs 385.94 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 14 December 2016.

Ruchi Soya Industries net profit fell 77.91% to Rs 26.74 crore on 10.6% decline in net total income from operations to Rs 5127.95 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 14 December 2016.

Prime Focus reported consolidated net loss of Rs 36.10 crore in Q2 September 2016 compared with consolidated net loss of Rs 23.30 crore in Q2 September 2015. Total revenue rose 8% to Rs 483.70 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 14 December 2016.

Country Club Hospitality & Holidays reported net loss of Rs 5.86 crore in Q2 September 2016 compared with net loss of Rs 2.96 crore in Q2 September 2015. Net sales fell 18.08% to Rs 59.80 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 14 December 2016.

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Infosys invests in Indian startup UAV solutions firm - ideaForge
Dec 14,2016

Infosys announced that it has made an investment from itsInnovation Fund in ideaForge, an Indian startup focused on Unmanned Aerial Vehicle (UAV) solutions.

ideaForge has built a world-class UAV solution featuring fully autonomous operation, cutting edge failsafe technology, high endurance, image intelligence with live feed, and support for complex payloadssuch as thermal and high-resolution imagery. ideaForges UAVs have been widely deployed by the Indian Armed Forces for surveillance, crowd monitoring and rescue operations, and offer a compelling solutionfor commercial applications in verticals such as energy, utilities, telecom and agriculture.

The investment is subject to receipt of regulatory approvals and customary closing conditions

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