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Mahindra & Mahindra acquires stake in Turkey based Hisarlar
Jan 20,2017

Mahindra & Mahindra announced that pursuant to Board of Directors approval, the Company has signed a share subscription agreement for subscribing upto 75.1% of the share capital of Hisarlar Makina Sanayi ve Ticaret Anonim Sirketi (Hisarlar), Turkey.

Hisarlar is a leading player in industrial cabinets and agriculture machinery market with revenue of 208 million Turkish Lira for the FY ended 31 December 2015.

The transaction is expected to close by April 2017. The association will help in growing the farm equipment business in Turkey and Europe.

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India Motor Parts & Accessories to consider Q3 and 9M results
Jan 20,2017

India Motor Parts & Accessories announced that a meeting of the Board of Directors of Company will be held on 27 January 2017 inter-alia to consider and take on record the Un-Audited Financial Results of the Company for the quarter and nine months ended 31 December 2016.

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Granules India to consider Q3 results and 3rd interim dividend
Jan 20,2017

Granules India announced that the meeting of the Board of Directors of the Company is scheduled to be held on 28 January 2017, inter alia, to consider and approve the Un-audited Financial Results for the third quarter ended 31 December 2016 and the payment of third interim dividend for the FY 2016-17, if any.

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Kirloskar Pneumatic hits record high after strong Q3 results
Jan 20,2017

Meanwhile, the S&P BSE Sensex was down 118.31 points or 0.43% at 27,190.29.

On the BSE, 23,000 shares were traded on the counter so far as against the average daily volumes of 2,440 shares in the past one quarter. The stock had hit a high of Rs 1,028 so far during the day, which is also its record high. The stock hit a low of Rs 905 so far during the day.

The stock had hit a 52-week low of Rs 622 on 15 February 2016. The stock had outperformed the market over the past one month till 19 January 2017, advancing 22.26% compared with the Sensexs 3.54% rise. The scrip had also outperformed the market over the past one quarter declining 0.27% as against the Sensexs 2.41% fall.

The small-cap company has equity capital of Rs 12.84 crore. Face value per share is Rs 10.

Shares of Kirloskar Pneumatic Company have rallied 30.73% in two trading sessions from its close of Rs 732.80 on 18 January 2017, after the company during market hours yesterday, 19 January 2017 reported strong Q3 December 2016 results. The stock had surged 17.92% to settle at Rs 864.10 yesterday, 19 January 2017.

Kirloskar Pneumatic Companys net profit jumped 288.9% to Rs 20.03 crore on 21.4% rise in net sales to Rs 123.91 crore in Q3 December 2016 over Q3 December 2015.

Kirloskar Pneumatic Company started its operations with the manufacture of air compressors and pneumatic tools. New product lines were then added, including air conditioning and refrigeration systems, marine HVACR, process gas systems and hydraulic power transmission machinery.

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Disa India announces change in directorate
Jan 20,2017

Disa India announced that the Companys Promoters Group, namely Norican Group, has made certain announcements regarding restructuring of the positions of some of its Country Heads and other Senior Executives of the Group arising out of which, Viraj Naidu, the Managing Director of DSA India will relocate to a global position.

In view of the above, the Company will shortly initiate the search process to identify a suitable candidate to replace Viraj Naidu in due course of time. Naidu will relocate after the replacement has joined the Company.

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Board of Nitesh Estates to consider December quarter results
Jan 20,2017

Nitesh Estates announced that a meeting of the Board of Directors of the Company is scheduled to be held on 09 February 2017, inter alia, to consider and approve the unaudited financial results of the Company for the quarter ended 31 December 2016.

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MEP Infrastructure Developers subsidiary gets project finance
Jan 20,2017

The announcement was made after market hours yesterday, 19 January 2017.

Meanwhile, the BSE Sensex was down 84.25 points, or 0.31%, to 27,224.35

On the BSE, so far 36,000 shares were traded in the counter, compared with average daily volumes of 42,291 shares in the past one quarter. The stock had hit a high of Rs 43.60 and a low of Rs 41.75 so far during the day.

The stock hit a 52-week high of Rs 50 on 23 September 2016. The stock hit a 52-week low of Rs 34 on 10 November 2016.

The small-cap company has equity capital of Rs 162.57 crore. Face value per share is Rs 10.

MEP Infrastructure Developers said that the companys subsidiary MEP SANJOSE Arawali Kante Road has achieved the financial closure as per the concession agreement executed with the Ministry of Road Transport and Highways dated 28 June 2016. This is for the rehabilitation and up-gradation of National Highway 66 to four lane with paved shoulder in Maharashtra under NHDP IV on hybrid annuity mode by tying up of project finance of Rs 266.84 crore.

On a consolidated basis, MEP Infrastructure Developers reported net profit of Rs 62.42 crore in Q2 September 2016 as compared with net loss of Rs 11.23 crore in Q2 September 2015. Total income rose 22.2% to Rs 570.13 crore in Q2 September 2016 over Q2 September 2015.

MEP Infrastructure Developers is one of the leading infrastructure operator and toll management company.

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MEP Infrastructure Developers gains as subsidiary gets project finance
Jan 20,2017

The announcement was made after market hours yesterday, 19 January 2017.

Meanwhile, the BSE Sensex was down 84.25 points, or 0.31%, to 27,224.35

On the BSE, so far 36,000 shares were traded in the counter, compared with average daily volumes of 42,291 shares in the past one quarter. The stock had hit a high of Rs 43.60 and a low of Rs 41.75 so far during the day.

The stock hit a 52-week high of Rs 50 on 23 September 2016. The stock hit a 52-week low of Rs 34 on 10 November 2016.

The small-cap company has equity capital of Rs 162.57 crore. Face value per share is Rs 10.

MEP Infrastructure Developers said that the companys subsidiary MEP SANJOSE Arawali Kante Road has achieved the financial closure as per the concession agreement executed with the Ministry of Road Transport and Highways dated 28 June 2016. This is for the rehabilitation and up-gradation of National Highway 66 to four lane with paved shoulder in Maharashtra under NHDP IV on hybrid annuity mode by tying up of project finance of Rs 266.84 crore.

On a consolidated basis, MEP Infrastructure Developers reported net profit of Rs 62.42 crore in Q2 September 2016 as compared with net loss of Rs 11.23 crore in Q2 September 2015. Total income rose 22.2% to Rs 570.13 crore in Q2 September 2016 over Q2 September 2015.

MEP Infrastructure Developers is one of the leading infrastructure operator and toll management company.

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UltraTech Cement imposed with penalty of Rs 68.3 crore for alleged cartelization
Jan 20,2017

UltraTech Cement announced that the Competition Commission of India (CCI), in a reference filed by the Government of Haryana for alleged cartelization in August, 2012, has, on 19 January 2017 assed an order, which is uploaded on their web site, directing:

1. the Company and other opposite parties to cease and desist from indulging in the acts / conduct which have been found to be in contravention of the provisions of the Competition Act, 2002, and

2. imposed a penalty of Rs. 68.3 crore on the Company, being 0.3% of the average turnover for the financial years 2012-13, 2013-14 and 2014-15.

The Company will take appropriate action after examining the Order fully.

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UltraTech Cement imposed with penalty of Rs 68.3 crore for alleged cartelization
Jan 20,2017

UltraTech Cement announced that the Competition Commission of India (CCI), in a reference filed by the Government of Haryana for alleged cartelization in August, 2012, has, on 19 January 2017 assed an order, which is uploaded on their web site, directing:

1. the Company and other opposite parties to cease and desist from indulging in the acts / conduct which have been found to be in contravention of the provisions of the Competition Act, 2002, and

2. imposed a penalty of Rs. 68.3 crore on the Company, being 0.3% of the average turnover for the financial years 2012-13, 2013-14 and 2014-15.

The Company will take appropriate action after examining the Order fully.

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Visa Steel announces resignation of director
Jan 20,2017

Visa Steel announced that Manoj Kumar Digga has resigned as Whole time Director of the Company w.e.f. 18 January 2017. He shall however continue as the Chief Financial Officer of the Company.

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Zydus Cadila acquires US based Sentynl Therapeutics
Jan 20,2017

Cadila Healthcare announced that Zydus Cadila has acquired Sentynl Therapeutics Inc., a US based specialty pharma company specialised in marketing of products in the pain management segment. The transaction will be EPS accretive.

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Future Consumer forms joint venture with Tilda Hain India
Jan 20,2017

Future Consumer has entered into a Joint Venture Agreement dated 19 January, 2017 with Tilda Hain India (Hain India), a part of Hain Celestial Group, Inc., New York, USA (JV Agreement), for undertaking the business of manufacturing, marketing, trading, selling and distributing various food products in the health and wellness category such as chips, non-dairy beverages, straws and infant / toddler foods, by way of forming a Joint Venture Company (JV Company) as per the terms and conditions agreed under the said JV Agreement.

The additional important terms and conditions of said J V Agreement inter alia are as follows:

1. The Company and Hain India each shall hold 50.00% of the paid-up share capital of the JV Company.

2. The Company and Hain India inter alia shall have the right:

i) To nominate three Directors each, on the Board of the JV Company
ii) To vote on few customary items in the Reserved Matters as provided under the JV Agreement
3. Hain India is not related to any of the Promoter and/or Promoter Group entities of the Company.
4. The J V Agreement executed by and between the Company and Hain India, does not fall within the ambit of Related Party Transactions.

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Jindal Stainless to hold EGM
Jan 20,2017

Jindal Stainless announced that the Extra Ordinary General Meeting (EGM) of the Company will be held on 11 February 2017.

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Board of Saka to consider December quarter results
Jan 20,2017

Saka announced that a meeting of the Board of Directors of the Company will he held on 06 February 2017, to take on record the un-audited results for the quarter ended 31 December 2016.

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