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Oriental Carbon & Chemicals commences commercial production of insoluble sulphur
Dec 20,2016

Oriental Carbon & Chemicals announced that the Company has commissioned / started the Commercial production, ahead of schedule, on 20 December 2016, of the First Phase (5500 Mt pa Capacity) of its project for expansion of Insoluble Sulphur production capacity at Special Economic Zone (SEZ) at Mundra, Gujarat.

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Rupee weakens further
Dec 20,2016

Rupee closed weaker on Tuesday (20 December 2016) at 68.0279/0430 per dollar, versus its previous close of 67.8650/8750 per dollar.

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Essel Propack plans to raise Rs 20 crore
Dec 20,2016

Essel Propack is raising funds through issue of Commercial Papers (CP) for Rs. 20 crore on private placement basis.

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Burnpur Cement announces resignation of director
Dec 20,2016

Burnpur Cement announced that Manoj Kumar Agarwal has been resigned from the directorship of the Company with effective from 12 December 2016.

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TCS recognised as Leader in Services for Global Banking
Dec 20,2016

Tata Consultancy Services has been recognised as Leader in Mobile Services for Global Banking by Everest Group in its report - Mobility Services in Global Banking - Service Provider Lanscape with PEAK Matrix Assessment 2016: A New Paradigm.

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Intercontinental Leasing and Finance Company appoints director
Dec 20,2016

Intercontinental Leasing and Finance Company announced that the Company has appointed Kalpak Ajay Vora as Additional Director of the Company with effect from 20 December 2016.

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Gala Print City provides update on scheme of amalgamation
Dec 20,2016

Gala Print City announced that with reference to the scheme of amalgamation Gala Products with Gala Print City, the Honourable High Court of Gujarat has passed an Oral Order dated 14 December 2016 stating final hearing of the petition on 24 January 2017.

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NHPC Board to consider interim dividend for FY 2017
Dec 20,2016

NHPC announced that the Board of Directors of the Company may propose and consider interim dividend on the equity share capital of the Company for the FY 2016-17 in its meeting scheduled to be held on 22 December 2016.

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Maxwell Industries renamed as VIP Clothing
Dec 20,2016

Maxwell Industries has change its name from MAXWELL INDUSTRIES to VIP CLOTHING, the same has been approved by both the stock exchanges where the shares of the company are listed.

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Ankit Metal & Power resumes operations of its factory
Dec 20,2016

Ankit Metal & Power announced that the Companys Factory at Jorehira, Chattna, Bankura, West Bengal which was under temporary suspension of work since 25 February 2016 after successfully trial runs has resumed operations.

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Tata Steel announces resignation of director
Dec 20,2016

Tata Steel announced that Cyrus P. Mistry, Member of the Board of Directors (Board) of Tata Steel has stepped down from the Board with immediate effect.

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Deep Inds scales record high after announcing PE investment in subsidiary firm
Dec 20,2016

The announcement was made during market hours today, 20 December 2016.

Meanwhile, the S&P BSE Sensex was down 82 points or 0.31% at 26,292.70

On the BSE, 1.77 lakh shares were traded on the counter so far as against the average daily volumes of 70,819 shares in the past one quarter. The stock hit a high of Rs 313.20 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 297.50 so far during the day. The stock had hit a 52-week low of Rs 117 on 26 February 2016. The stock had outperformed the market over the past 30 days till 19 December 2016, rising 29.22% compared with the 0.86% rise in the Sensex. The scrip also outperformed the market in past one quarter, surging 49.19% as against Sensexs 7.53% decline.

The small-cap company has equity capital of Rs 32 crore. Face value per share is Rs 10.

Deep Industries said that the investment shall be made through subscription of compulsorily convertible debentures, which shall represent 40% equity stake in Prabha Energy on fully diluted basis upon conversion of equity shares, for a cash consideration of $20 million at a total valuation of Prabha Energy at $50 million. Prabha Energy is engaged in activities relating to exploration, production, development, mining, marketing, transportation of CBM in India.

The funds invested would primarily be utilised for capital and operating expenditure for the development and production of natural gas from coal bed methane block in north Karanpura coalfields (NK-CBM) in Jharkhand. Prabha Energy holds 25% participating interest in NK-CBM block.

Deep Industries net profit rose 109.36% to Rs 16.77 crore on 97.14% growth in net sales to Rs 67.50 crore in Q2 September 2016 over Q2 September 2015.

Deep Industries is engaged in business of oil and gas services, exploration and production.

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63 Moons Technologies announces change in directorate
Dec 20,2016

63 Moons Technologies announced that Nisha Dutt and Miten Mehta, Non-Executive Directors have resigned from the Board of the Company and the same has been accepted by the Board at its meeting held on 20 December 2016.

Jigish Sonagara, Whole-time Director, has also decided to stepdown as Whole-time Director, but has consented to continue on the Board as a Non-Executive Director.

Further, the Company has informed that Justice Deepak Verma, former Judge - Supreme Court of India and Chitkala Zutshi (Retd. IAS) have been appointed as additional Non-Executive Directors.

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Deep Industries announces PE investment of USD 20 mn in subsidiary -Prabha Energy
Dec 20,2016

Deep Industries has signed definitive documents on 19 December 2016 for the proposed primary capital investment by Tridevi Capital Partners (Tridevi) in its subsidiary, Prabha Energy. The investment shall be made through subscription of compulsorily convertible debentures, which shall represent 40% equity stake in Prabha Energy on fully diluted basis upon conversion of equity shares, for a cash consideration of USD 20 million at a total valuation of Prabha Energy at USD 50 million.

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Board of Uttam Value Steels to consider conversion of loan under SDR
Dec 20,2016

Uttam Value Steels announced that meeting of the Board of Directors of the Company is scheduled to be held on 23 December 2016, for the purpose of conversion of loan into equity shares to the lenders under Strategic Debt Restructuring (SDR) circular of RBI as per the decision of Joint Lenders Forum (JLF) of the Company through preferential route in terms of SEBI guideline and to obtain the approval from the shareholders to convert loan into equity shares and such other alied matters.

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