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Mangalam Cement gains after starting production at new grinding unit
Sep 20,2016

The announcement was made after market hours yesterday, 19 September 2016.

Meanwhile, the S&P BSE Sensex was down 66.59 points or 0.23% at 28,567.91.

On BSE, so far 18,332 shares were traded in the counter as against average daily volume of 19,711 shares in the past two weeks. The stock hit a high of Rs 350 and a low of Rs 345 so far during the day. The stock had hit a record high of Rs 375.15 on 23 August 2016. The stock had hit a 52-week low of Rs 151.10 on 25 February 2016. The stock had underperformed the market over the past one month till 19 September 2016, falling 5.62% compared with Sensexs 1.99% rise. The scrip had, however, outperformed the market in past one quarter, rising 16.45% as against Sensexs 7.54% rise.

The small-cap company has equity capital of Rs 26.69 crore. Face value per share is Rs 10.

Mangalam Cement said that it has commenced commercial production at the new cement grinding unit with a capacity of 0.75 million ton per annum (MTPA) at Aligarh, Uttar Pradesh. The overall capacity is now enhanced from 3.25 MTPA to 4 MTPA.

Mangalam Cement reported net profit of Rs 22.59 crore in the quarter ended 30 June 2016 compared with net loss of Rs 18.91 crore in the quarter ended 30 June 2015. Sales rose 6% to Rs 224.13 crore in the quarter ended 30 June 2016 over the quarter ended 30 June 2015.

Mangalam Cement is a cement manufacturing company.

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Union Minister Mr Venkaiah Naidu lays foundation stone for Bharat Electronics Advanced Night Vision Products Factory in Andhra Pradesh
Sep 20,2016

Union Minister for Information & Broadcasting, Shri M. Venkaiah Naidu laid foundation stone for the Bharat Electronics Advanced Night Vision Products Factory at Nimmaluru, Pamarru (M) in Krishna District of Andhra Pradesh here today. The factory, which is coming up in 50 acres is likely to be completed by 2018 at a cost of Rs 300 crore and is likely to provide employment to over 1200 people. The factory also has a scope for further investment of up to Rs 1000 Crore. BEL factory is presently operating from a campus of five acres. Once completed the Advanced Night vision facility will have state of the art infrastructure like Assembly Hangars, ultra-high clean rooms for assembly of devices, modern optical workshops with precision SPDT, CNC optical fabrication machines and high performance durable thin film.

New products like IR seekers & missile warning systems, tank sights, weapons sights, thermal imager based multi-function sights, EO system for radar and AD guns, Border surveillances system un-cooled TI weapon sights, night sights for CQB carbine, compact multi-purpose stabilized systems for advanced light helicopters shall be designed and manufactured in this factory.

Speaking on the occasion , Shri Naidu urged the people to be cautious with those creating hurdles to the development of the State. He said that the Centre has focused on the development of State and is paying special attention to its progress by granting special financial assistance. n++People are more intelligent than the political leaders and they realise what is true and what is notn++. He urged the BEL management to provide employment to the locals in the new factory and assured that he would take up the issue with the defence minister. The Prime Minister has focussed on n++make in Indian++ products so that people get employment he said. The Union Minister further said that of the 28 demands made by the people of the State in the wake of bifurcation, the Centre has already agreed upon 27 demands except the special category status which is not possible as it was not included in the bifurcation bill and 9 more states are demanding it.

Andhra Pradesh State is to become hub for manufacturing of defence products with over Rs 6,600 Crore worth defence projects sanctioned, he said. He reiterated that the Centre had assured special package to the State which would be more than what Special status would give. He appreciated the efforts of the Chief Minister Mr Nara Chandrababu Naidu for earmarking 50 acres of land to the BEL management for establishing the factory. He also said that another defence project is in final stage of sanction to be set up Bobbili. The Union Minister pointed out that industrial development is as important as agriculture for development and they are like two eyes.

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Bharat Rasayan to hold AGM
Sep 20,2016

Bharat Rasayan announced that the th Annual General Meeting(AGM) of the company on 28 September 2016.

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KPR Mill hits record high as board to consider stock-split plan
Sep 20,2016

The announcement was made after market hours yesterday, 19 September 2016.

Meanwhile, the S&P BSE Sensex was down 100.29 points or 0.35% at 28,553.99

On BSE, so far 314 shares were traded in the counter as against average daily volume of 6,936 shares in the past one quarter. The stock hit a high of Rs 1,241.90 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 1,190.05 so far during the day. The stock had hit a 52-week low of Rs 620 on 17 February 2016.

The mid-cap company has equity capital of Rs 37.68 crore. Face value per share is Rs 10.

KPR Mills net profit rose 24.52% to Rs 62.87 crore on 5.87% growth in net sales to Rs 638.81 crore in Q1 June 2016 over Q1 June 2015.

KPR Mill is engaged in manufacture of readymade knitted apparel, cotton knitted fabric and yarn in India.

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Dr Reddys Lab inches up after launching Paricalcitol injection
Sep 20,2016

The announcement was made after market hours yesterday, 19 September 2016.

Meanwhile, the S&P BSE Sensex was down 50.36 points or 0.18% at 28,584.14

On BSE, so far 1,437 shares were traded in the counter as against average daily volume of 39,235 shares in the past one quarter. The stock hit a high of Rs 3,190 and a low of Rs 3,165 so far during the day. The stock had hit a a record high of Rs 4,382.95 on 20 October 2015. The stock had hit a 52-week low of Rs 2,750 on 21 January 2016.

The large-cap company has equity capital of Rs 85.39 crore. Face value per share is Rs 5.

Dr Reddys Laboratories said it has launched Paricalcitol injection, USP, a therapeutic equivalent generic version of Zemplar (Paricalcitol) injection in the United States market approved by the US Food & Drug Administration (USFDA). The Zemplar brand and generic had US sales of approximately $22.5 million MAT for the most recent twelve months ending in July 2016 according to IMS Health. Dr. Reddys Paricalcitol Injection is available in 2 mcg, 5 mcg, and 10 mcg, and is the first ANDA product launched in the US market.

Dr Reddys Laboratories consolidated net profit fell 76.3% to Rs 153.50 crore on 14.1% decline in total income to Rs 3289.50 crore in Q1 June 2016 over Q1 June 2015.

Dr Reddys Laboratories is an integrated global pharmaceutical company. It offers a portfolio of products and services including active pharmaceutical ingredients (APIs), custom pharmaceutical services, generics, biosimilars and differentiated formulations.

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Kesar Terminals & Infrastructure announces resignation of company secretary and compliance officer
Sep 20,2016

Kesar Terminals & Infrastructure announced that Dilip Maharana has resigned from the post of Company Secretary of the Company.

The Company has accepted his resignation and relieved him from the services of the Company from the closing hours of 15 September 2016. Consequent to his resignation as Company Secretary, Dilip Maharana also ceases to be the Compliance Officer of the Company. His successor shall be appointed shortly and the same shall be intimated to the Stock Exchange.

Further the Company has informed that, Vipul Doshi, Chief Financial Officer of the Company will be the Compliance Officer of the Company till such time the qualified Company Secretary is appointed by the Company.

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Central Bank of India gets revision in credit ratings for bonds
Sep 20,2016

Central Bank of India has received revision in rating on Banks bonds from Brickwork Ratings -

Innovative Perpetual Debt Instrument (Rs 500 crore) - BWR A+ / Outlook Negative (Revised from BWR AA- / Outlook Negative)

Tier II Bonds (Under Basel III) (Rs 2000 crore) - BWR A+/ Outlook Negative (Revised from BWR AA-/ Outlook Negative)

Additional Tier I Bond (Under Basel III) (Rs 1435 crore) - BWR A- / Outlook Negative (Revised from BWR A+ / Outlook Negative)

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Edelweiss Financial Services provides business update
Sep 20,2016

Edelweiss Financial Services announced that Edelweiss Asset Reconstruction Company which was hitherto an Associate Company has now become subsidiary of the Company.

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Karnataka asked to Release 3000 Cusecs of Water Per Day from 21st to 30th September 2016
Sep 20,2016

The Cauvery Supervisory Committee in its seventh meeting held under the Chairmanship of Union Water Resources Secretary Shri Shashi Shekhar directed Karnataka to release 3000 cusecs of water per day to Tamil Nadu from 21st to 30th September 2016. The supervisory committee took into consideration the interest of all the participating states, the inflow position, rain fall picture, daily inflow of water in the reservoirs of Karnataka, the drinking water of needs Karnataka and the need of samba crop in Tamil Nadu.

The committee took a detailed presentation from the Chief Secretaries of Tamil Nadu, Karnataka, Puducherry and the representative from Kerala. The committee tried to reach to a conclusion but Tamil Nadu and Karnataka did not agree to a particular figure of release of water which was based on scientific facts.

It has also been decided that Central Water Commission will draw up a new protocol of online collection of data related to rainfall and flow of water on real time basis which may be shared simultaneously with all the concerned states. The cost of developing this protocol will be shared by the three states and UT of Puducherry.

The supervisory committee will meet frequently to access the situation and needs in the future. The next meeting will be held in sometimes in October. The committee will meet once in every month from February 2017 onwards.

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Mastek announces change in CFO
Sep 20,2016

Mastek has appointed Abhishek Singh as Chief Financial Officer of the Company with effect from 17 September 2016 in place of Jamshed Jussawalla, on reaching age of superannuation.

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Dr Reddys Lab in focus after launching Paricalcitol injection
Sep 20,2016

Dr Reddys Laboratories said it launched Paricalcitol injection, USP, a therapeutic equivalent generic version of Zemplar (paricalcitol) injection in the United States market approved by the US Food & Drug Administration (USFDA). The Zemplar brand and generic had US sales of approximately $22.5 million MAT for the most recent twelve months ending in July 2016 according to IMS Health. Dr. Reddys Paricalcitol Injection is available in 2 mcg, 5 mcg, and 10 mcg, and is the first ANDA product launched in the US market. The announcement was made after market hours yesterday, 19 September 2016.

Asian Paints announced after market hours yesterday, 19 September 2016, that as a part of the companys plan to consolidate its investments in the overseas subsidiaries, Asian Paints (International) (APIL), Mauritius, a wholly owned subsidiary of the company, has transferred its entire holding of 99.18% held in the subsidiary company, Asian Paints (Lanka), Sri Lanka, to Berger International, Singapore, a wholly owned subsidiary of APIL. The transfer process has been completed on 19 September 2016.

Mahindra & Mahindra (M&M) announced that India Ratings and Research (Ind-Ra) has assigned Provisional IND AAA rating with stable outlook for the companys proposed issue of Rs 475 crore non-convertible debentures. The ratings agency has also assigned IND A1+ rating for the companys proposed issue of Rs 700 crore commercial papers. The announcement was made after market hours yesterday, 19 September 2016.

Oriental Bank of Commerce said that the issue of Basel III Compliant Additional Tier 1 Bonds (private placement) was opened on 16 September 2016. The issue was fully subscribed to the extent of Rs 1000 crore and bonds were allotted on 16 September 2016. The announcement was made after market hours yesterday, 19 September 2016.

Canara Bank said that at a meeting of the board of directors of the bank is scheduled on 23 September 2016, note the consent of the Government of India on infusion of capital and rights issue. The bank will consider raising of capital by way of a rights issue and strengthening of Capital to Risk weighted Assets Ratio (CRAR) of the bank. The announcement was made after market hours yesterday, 19 September 2016.

Reliance Infrastructure announced that the board of directors of the company approved to amend the Object Clause of the Memorandum of Association of the company to include new activities relating to setting up any Trust, Funds including Venture Capital Funds, Infrastructure Investment Trust and Real Estate Investment Trust and other Alternative Investment Funds and defence business. The announcement was made after market hours yesterday, 19 September 2016.

Karur Vysya Bank said that the board of directors of the bank has considered and approved a 5-for-1 stock split. The announcement was made after market hours yesterday, 19 September 2016.

K.P.R. Mill has scheduled a board meeting on 5 October 2016, to consider stock-split proposal. The announcement was made after market hours yesterday, 19 September 2016.

Fiem Industries said that the fund raising committee of the board of directors approved allotment of 11.97 lakh equity shares of face value of 10 each to qualified institutional buyers at the issue price of Rs 1002 per share, aggregating to Rs 119.99 crore. The announcement was made after market hours yesterday, 19 September 2016.

Mangalam Cement said it has commenced commercial production of the new cement grinding unit with a capacity of 0.75 million ton per annum (MTPA) at Aligarh, Uttar Pradesh. The overall capacity is now enhanced from 3.25 MTPA to 4.00 MTPA. The announcement was made after market hours yesterday, 19 September 2016.

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Mahindra & Mahindra gets provisional rating for proposed NCD issue and CP issue
Sep 19,2016

Mahindra & Mahindra has been assigned Provisional IND AAA rating for proposed issue of Rs 475 crore Non-Convertible Debentures and IND A1+ rating for proposed issue of Rs 700 crore Commercial Papers by India Ratings and Research.

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Board of Karur Vysya Bank approves sub-division of shares
Sep 19,2016

Karur Vysya Bank announced that the Board of Directors of the Company at its meeting held on 19 September 2016, inter alia, has considered and approved the proposal for sub-division of existing one equity share of Rs. 10/- each face value fully paid up into 5 number of equity shares of Rs. 2/- each face value subject to the approval of the shareholders through Postal Ballot process.

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Kirloskar Industries provides update on subsidiary
Sep 19,2016

Kirloskar Industries announced that Kirloskar Ferrous Industries (KFIL), a listed material subsidiary of the Company, has intimated that one Mini Blast Furnace (MBF-I) of the Company situated at Koppal Plant, Karnataka has been shut down from 19 September 2016, for around 85 days on account of MBF - I upgrade.

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Kirloskar Industries announces change in directorate
Sep 19,2016

Kirloskar Industries announced that Vijay K. Bajhal was appointed as an independent Director of the Company for a period of two consecutive years from 02 September 2014 to 01 September 2016, by the members of the Company at their Annual General Meeting held on 02 September 2014.

In this connection, the Company further note that the tenure of Vijay K. Bajhal, as an Independent Director of the Company has ended on 01 September 2016 and he ceased to be a Director of the Company w.e.f. 02 September 2016.

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