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Oil India in spotlight after company led consortium completes two acquisitions in Russia
Oct 06,2016

Oil India announced that the company led Indian consortium successfully completed two landmark acquisitions in Russia. The Indian consortium led by Oil India including Indian Oil Corporation (IOCL) and Bharat PetroResources (BPRL), a 100% subsidiary of BPCL have successfully completed two landmark acquisitions of producing upstream assets in Russia. The consortium acquired 29.9% stake in LLC Taas-Yuryakh Neftegazodobycha (Taas Yuryakh) and 23.9% stake in JSC Vankorneft (Vankorneft) from Rosneft Oil Company, the national oil company of Russia.

IOCL announced that the company has fixed 19 October 2016 as the record date for 1:1 bonus issue. The announcement was made after market hours yesterday, 5 October 2016.

Power Grid Corporation of India (PGCIL) announced that POWERGRID Unchahar Transmission, a wholly owned subsidiary of the company has successfully completed the project comprising the element Unchahar-Fatehpur 400 kV D/c line and declared commercial operation on 1 October 2016. The announcement was made after market hours yesterday, 5 October 2016.

Bajaj Finance announced that debenture allotment committee of the company has at a meeting on 4 October 2016, allotted 3,650 partly paid unsecured redeemable non-convertible debentures of face value of Rs 10 lakh each along with remittance of Rs 124.10 crore, on private placement basis. The remittance of Rs 124.10 crore was the first tranche of Rs 3.4 lakh of the issue price per debenture. The announcement was made after market hours yesterday, 5 October 2016.

Transformers and Rectifiers (India) (TRIL) announced that it has entered into a joint venture agreement with Jiangsu Jingke Smart Electric Company (Jingke), a company incorporated under laws of Peoples Republic of China (PRC) for purpose of starting the business of manufacturing and marketing of GIS/HGIS/TGIS systems and products for 220kV and below and distribution products of 40.5 kV and below in India. TRIL will hold majority of 60% of share of joint venture and balance will be held by Jingke. The company neither has any interest in Jingke nor fall within related party transactions. The announcement was made after market hours yesterday, 5 October 2016.

TRIL is leading manufacturer of transformers and reactors upto 765 kV. The utilities find increasing usage of GIS as space becomes restriction and technology is getting advanced. This is logical foray for a TRIL for diversification in transmission & distribution (T&D) Segment.

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Board of Phillips Carbon Black approves scheme of amalgamation
Oct 05,2016

Phillips Carbon Black announced that the Board of Director of the Company at its meeting held on 05 October 2016 has approved the scheme of amalgamation of Philips Carbon Black and Goodluck Dealcom, a wholly owned subsidiary of the company.

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Syndicate Bank announcess revision in MCLR
Oct 05,2016

Syndicate Bank has revised the MCLR of the Bank with effect from 07 October 2016 as under-

Overnight MCLR - 9.30%
One month MCLR - 9.35%
Three month MCLR - 9.35%
Six month MCLR - 9.40%
One year MCLR - 9.45%.

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Power Grid Corporation of India intimates of completion of Unchahar Transmission project
Oct 05,2016

Power Grid Corporation of India announced that POWERGRID Unchahar Transmission, a wholly owned subsidiary of Power Grid Corporation of India, secured though Tariff Based Competitive Bidding (TBCB), has successfully completed the project comprising the element Unchahar-Fatehpur 400 kV D/c line and declared commercial operation on 01 October 2016.

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Petronet LNG announces change in directorate
Oct 05,2016

Petronet LNG announced that Dr. T Natarajan has been appointed as Nominee Director of Gujarat Maritime Board (GMB) w.e.f. 21 September 2016 and D. Rajkumar has been appointed as Nominee Director of Bharat Petroleum Corporation(BPCL) w.e.f. 05 October 2016 in place of S. varadarajan who has been superannuated from the services of BPCL w.e.f. 30 September 2016.

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Gammon India announces resignation of director
Oct 05,2016

Gammon India announced that Jagdish C. Sheth, Independent Director, has resigned as Director from the Companys Board with effect from 05 October 2016.

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NMDC revises Iron Ore prices
Oct 05,2016

NMDC has fixed prices of Iron Ore with effect from 15 October 2016 as under -

Lump Ore @ Rs 2100 WMT
Fines @ Rs 1760 WMT

The above FOR prices are excluding Royalty, DMF, NMET, Cess, Forest Permit Fee etc.

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Punjab & Sind Bank revises MCLR rates
Oct 05,2016

Punjab & Sind Bank has revised the Marginal Cost of Funds based Lending Rates with effect from 05 October 2016.

Overnight MCLR - 9.30%
One month MCLR - 9.35%
Three month MCLR - 9.40%
Six month MCLR - 9.50%
One year MCLR - 9.55%
Three year MCLR - 9.65%
Fiver year MCLR - 9.75%

The Base Rate has been reviewed and kept unchanged at 9.75% p.a.

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IOC intimates of completion of acquisition of stakes in JSC Vankorneft and LLC Taas Yuryakh Neftegazodobycha
Oct 05,2016

Indian Oil Corporation announced that Indian Oil Corporation (IndianOil), Oil India (OIL) and Bharat PetroResources (BPRL), through a joint venture company formed by their wholly-owned subsidiaries in Singapore, on 05 October 2016 completed two transactions, viz., acquisition of 23.9% shares of the charter capital of JSC Vankorneft, a company organised under the laws of the Russian Federation, which is the owner of Vankor and North Vankor Field licenses, from Rosneft Oil Company (Rosneft), a National Oil Company of Russia, and acquisition of 29.9% of the participatory share in the charter capital of LLC Taas Yuryakh Neftegazodobycha (TYNGD), from LLC RN Razvedka I Dobychya, a wholly-owned subsidiary of Rosneft.

The definitive agreements for the Vankor transaction were signed in June 2016 and for the Taas transaction in March 2016.

In JSC Vankorneft, post-closing of transactions, Rosneft will hold about 61.1% shares and ONGC Videsh (through its subsidiary) holds the remaining 15% shares of JSC Vankorneft. In TYNGD, post-closing of the transaction, Rosneft (through subsidiary) will hold about 50.1% share and BP (through subsidiary) holds the remaining 20% share.

Vankor field, located in East Siberia is Russias second largest field by production and accounts for around 4% of Russian production. In 2015, the Vankor field produced 22 million tonnes of oil and 8.71 BCM of gas. TYNGD is currently producing approx. 1.1 million tonnes of oil and is expected to ramp up the production to 5 million tonnes of oil by 2021.

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Average AUM rises 11.8% in Q2 FY17
Oct 05,2016

Average assets under management (AAUM) of the mutual fund (MF) industry increased by 11.8% (by Rs1.697 lakh crore) to an all-time high of Rs 16.11 lakh crore during the quarter ended September 2016 as against Rs 14.41 lakh crore registered during the quarter ended June 2016, helped by strong participation from retail investors and robust inflow in equity schemes. Mutual fund industrys asset base surged 22.4% on yearly basis, mainly on account of huge inflows in equity schemes and strong participation through systematic investment plans (SIPs).The yearly rise in AAUM is largely on account of huge inflow in equity and equity-oriented schemes. In addition, retail participation increased significantly during the year.

On quarterly basis, of the 42 mutual funds (Mahindra Mutual Fund is new fund house), 38 fund houses registered rise in AAUM, while the rest resulted in fall during the September quarter. There were 02 mutual funds whose AAUM fell by over 10%n++Sahara and Taurus. In the quarter ended September 2016 there were 24 fund houses which witnessed a rise in their average quarterly AUM upto10%, while 14 AMCs saw a rise in the AUM in the range of 0.7%-9.2%.

BOI AXA postedthe highest rise among the fund houses which witnessed rise in AAUM, from Rs2753.99 crore to Rs3635.89 crore. It was followed by Mirae Asset which posted 31.6% rise.

The top five fund houses n++ HDFC, Reliance, ICICI Prudential, Birla Sun Life and SBI (UTI AAUM sifted to sixth position from top five) gained an aggregate of Rs9.13 lakh crore in their AAUM over the last quarter. Among the top 5 players, Birla Sun Life was the highest gainer as its AAUM increased by 13.3% or by Rs19788.11 crore to Rs 1.69 lakh crore over that in quarter ended June 2016. ICICI Prudential clocked the top position shifting HDFC down to second position in terms of AAUM. ICICI Prudential AAUM increased by 11.7% to Rs2.16 lakh crore. HDFC AAUM increased by 10.5% to Rs 2.13 lakh crore. UTI Mutual Fund gained 13.5% or Rs by 15164.66crore during the quarter and its AAUM stood at Rs 1.27 lakh crore. SBI MF increased9.7%, to Rs 1.32 lakh crore. Reliance MF AAUM increased by 9.7% at Rs 1.83 lakh crore.

In terms of absolute asset growth in July-September 2016 over April-June 2016, ICICI Prudential MF leads the pack with rise by Rs22689.88 crore rise followed by HDFC MF with Rs 20309.66 crore and Birla Sun Life MF is third with rise by Rs19788.11crore assets added in this period.

Average Assets under Management (AAUM) for the quarter of July-September 2016 (Rs in crore)Mutual Fund NameAUM (Rs CR) September 2016^AUM (Rs CR) June 2016^Change (Rs CR)VAR (%)Axis Mutual Fund47179.2340867.936311.3115.4Baroda Pioneer Mutual Fund11702.629116.602586.0228.4Birla Sun Life Mutual Fund168880.81149092.7019788.1113.3BNP Paribas Mutual Fund6068.725411.16657.5612.2BOI AXA Mutual Fund3635.892753.99881.9132.0Canara Robeco Mutual Fund9319.828099.171220.6515.1DHFL Pramerica Mutual Fund24472.9221739.912733.0112.6DSP BlackRock Mutual Fund49851.5441415.658435.8920.4Edelweiss Mutual Fund2255.632032.38223.2411.0Escorts Mutual Fund294.90290.584.321.5Franklin Templeton Mutual Fund73666.1367592.816073.329.0Goldman Sachs Mutual Fund7098.666500.48598.189.2HDFC Mutual Fund213086.14192776.4820309.6610.5HSBC Mutual Fund8502.747839.05663.688.5ICICI Prudential Mutual Fund215985.85193295.9722689.8811.7IDBI Mutual Fund8128.366718.841409.5221.0IDFC Mutual Fund56656.2654091.382564.884.7IIFCL Mutual Fund (IDF)388.37379.159.222.4IIFL Mutual Fund370.36395.12-24.76-6.3IL&FS Mutual Fund (IDF)970.15946.8823.262.5Indiabulls Mutual Fund6731.296231.01500.288.0Invesco Mutual Fund22560.3719039.353521.0218.5JM Financial Mutual Fund13612.1312756.00856.136.7JPMorgan Mutual Fund

Bank of Maharashtra revises MCLR rates
Oct 05,2016

Bank of Maharashtra has revised the Marginal Cost of Funds based Lending Rates with effect from 01 October 2016.

Overnight - 9.05%
One Month - 9.30%
Three Months - 9.40%
Six Months - 9.55%
One Year - 9.60%

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Rajvir Industries provides operations update
Oct 05,2016

Rajvir Industries announced that the management has decided to stop the production in the Plant located at Tandur, Ranga Reddy District, Telangana, with immediate effect due to shortage in the availability of the variety of quality cotton used in the manufacture of the yarn in the said Plant. The Company would be commencing the production as soon as the variety of cotton is available and procured by the Company.

However, all the other Plants of the Company will continue to be operational.

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Transport Corporation of India to hold AGM
Oct 05,2016

Transport Corporation of India announced that the 21th Annual General Meeting(AGM) of the company on 4 November 2016.

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Dhanlaxmi Bank gets reaffirmation in rating of Lower Tier II Bonds
Oct 05,2016

Dhanlaxmi Bank has received a reaffirmation in rating for Lower Tier II Bonds (Rs 117.70 crore) of CARE BB+.

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Axon Ventures to hold board meeting
Oct 05,2016

Axon Ventures will hold a meeting of the Board of Directors of the Company on 13 October 2016 to accept the resignation of Ms. Swati Shinde from the post of Directorship of the Company,To appointment Mrs. Tanu Giriraj Agarwal as an Additional Director of the Company.

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