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Wipro positioned as Leader for Managed Workplace Services, North America
Mar 20,2017

Wipro has been positioned as a Leader in Gartners Magic Quadrant for Managed Workplace Services, North America.

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Board of APM Industries approves demerger of finance and investment business to subsidiary
Mar 20,2017

APM Industries announced that the Board of Directors of the Company at its meeting held on 20 March 2017 has considered and approved the demerger/ hiving off of the finance and investment business and assets of the Company to the wholly owned subsidiary- APM Finvest, through a scheme of arrangement.

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Glenmark Pharmaceuticals receives tentative approval for Fingolimod Capsules
Mar 20,2017

Glenmark Pharmaceuticals has been granted tentative approval by the United States Food & Drug Administration (USFDA) for Fingolimod Capsules, 0.5 Mg, the generic version of Gilenyan++ Capsules of NovartisPharmaceuticals Corp.

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Hindalco Industries intimates on proposed amalgamation of Idea Cellular and Vodafone Group
Mar 20,2017

Hindalco Industries holds 6.34% and is classified as a promoter of Idea Cellular. The Board of Idea Cellular on 20 March 2017 approved the amalgamation of Vodafone India and its subsidiary, Vodafone Mobile Services with Idea Cellular subject to requisite approvals.

Upon the amalgamation becoming effective, the entire business of Vodafone India and Vodafone Mobile Services will vest in Idea. The shareholders of Vodafone will own 45.1% of Idea after transferring a stake of 4.9% to some or all the existing promoters of Idea and/or their affiliates for Rs 38.74 billion in cash concurrent to the completion of amalgamation. The promoters of Idea will hold 26% of Idea and the balance 28.9% will be held by public.

In connection with the proposed merger, the Board of the Company has approved the execution of an Implementation Agreement amongst Idea and the promoters of Idea, Vodafone India, Vodafone Mobile Services, Vodafone and Vodafone International Holdings BV.

In addition to the Implementation Agreement, the Board of the Company also approved the execution of Shareholders Agreement amongst Idea, Promoters of Idea, Vodafone and Vodafone International Holdings BV which will be effective only up on the amalgamation becoming effective.

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Larsen & Toubro Infotech partners with Scandinavian Energy Company - OKQ8 Scandinavia
Mar 20,2017

Larsen & Toubro Infotech announced the signing of a multi-year strategic partnership with OKQ8 Scandinavia, one of Scandinavias largest energy companies. As part of the deal, LTI will provide Application Development and Maintenance Services (ADMS) and also help OKQ8 Scandinavia transform its IT systems and business processes.

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Intellect Design Arena allots 503,500 shares
Mar 20,2017

Intellect Design Arena announced that the Members of the Stakeholders Relationship Committee of the Company vide its Circular Resolution dated 18 March 2017 has approved the allotment of 503,500 shares to Fourteen (14) associates under ASOP 2011 Scheme, the allotment of 23,000 shares to Five (5) associates under ISOP 2015 Scheme.

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Zuari Agro Chemicals temporarily shuts down urea/ammonia plants
Mar 20,2017

Zuari Agro Chemicals announced that Urea/Ammonia Plants of the Company have been shut down for annual maintenance from 19 March 2017.

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Reliance Communications provides update on proposed demerger of wireless division into Aircel and Dishnet Wireless
Mar 20,2017

Reliance Communications has received an approval of theCompetition Commission of India (CCI) for the proposed Scheme of Arrangement for demerger of the Wireless division of the Company into Aircel and Dishnet Wireless.

The Company has already received approval from the Securities and Exchange Board of India (SEBI), BSE (BSE) and National Stock Exchange of India (NSE) for the proposed Scheme of Arrangement and filed an application with the National Company Law Tribunal (NCLT), Mumbai Bench, for approval of the said Scheme.

The proposed transaction is subject to other necessary approvals.

Post closing, the Company and the present shareholders of Aircel will hold 50% each in Aircel.

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Grasim Industries intimates on proposed amalgamation of Idea Cellular and Vodafone Group
Mar 20,2017

Grasim Industries holds 4.75% and is classified as a promoter, of Idea Cellular. The Board of Idea Cellular on 20 March 2017 approved the amalgamation of Vodafone India and its subsidiary, Vodafone Mobile Services with Idea Cellular subject to requisite approvals.

Upon the amalgamation becoming effective, the entire business of Vodafone India and Vodafone Mobile Services will vest in Idea. The shareholders of Vodafone will own 45.1% of Idea after transferring a stake of 4.9% to some or all the existing promoters of Idea and/or their affiliates for Rs 38.74 billion in cash concurrent to the completion of amalgamation. The promoters of Idea will hold 26% of Idea and the balance 28.9% will be held by public.

In connection with the proposed merger, the Board of the Company has approved the execution of an Implementation Agreement amongst Idea and the promoters of Idea, Vodafone India, Vodafone Mobile Services, Vodafone and Vodafone International Holdings BV.

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Lancor Holdings to hold board meeting
Mar 20,2017

Lancor Holdings will hold a meeting of the Board of Directors of the Company on 20 March 2017.

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Sudarshan Chemical Industries to hold board meeting
Mar 20,2017

Sudarshan Chemical Industries will hold a meeting of the Board of Directors of the Company on 27 March 2017, to discuss and approve the Annual Operating Plans of the Company for the Financial Year 2017 - 18 and other incidental matters.

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Karnavati Finance to hold board meeting
Mar 20,2017

Karnavati Finance will hold a meeting of the Board of Directors of the Company on 23 March 2017, to issue Equity Shares of the Company on preferential basis as per SEBI (ICDR) Regulations, 2009

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L&T Hydrocarbon Engineering bags offshore contract from ONGC
Mar 20,2017

L&T Hydrocarbon Engineering, a wholly owned subsidiary of Larsen & Toubro has bagged an offshore contract for the Neelam Re-Development & B173AC Project from the Oil & Natural Gas Corporation (ONGC) valued at Rs 1656 crore (USD 245 Million).

The Contract, won against international competitive bidding, encompasses total EPCIC - Engineering, Procurement, Construction, Installation and Commissioning for the project. The scope includes one new process platform having gas processing and compression facilities, three new well head platforms, 32 km pipeline, clamp-on on three existingplatforms and modification work on eight existing platforms in the Neelam Field in western offshore basin in India.

The project, part of ONGCs strategy to enhance the field life and increase recovery of Neelam field, is scheduled to be completed by April 2019. The incremental gain from the field after implementation of project till 2034-35 is pegged at 2.76 MMT crude oil and 4.786 BCM gas. Neelam Offshore field is situated in the Heera-Panna block in Mumbai Offshore, located at about 45 km South-West of Mumbai city.

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Board of Ideal Cellular approves scheme of amalgamation
Mar 20,2017

The Board of Directors of Idea Cellular at its meeting held on 20 March 2017 has approved the scheme of amalgamation of Vodafone India and its wholly owned subsidiary Vodafone Mobile Services with the Company subject to receipts of approvals of shareholders, creditors, SEBI, Stock Exchanges, Competition Commission of India, Department of Telecommunication, Foreign Investment Promotion Board, Reserve Bank of India and other governmental authorities and third parties.

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NTPC commissions 2nd 660 MW unit of Mouda Super Thermal Power Station
Mar 20,2017

NTPC announced that the 2nd unit of 660 MW of Mouda Super Thermal Power Station Stage-II (2 X 660 MW) has been commissioned. With this, the commissioned capacity of Mouda Super Thermal Power Station, NTPC and NTPC group has become 2320 MW, 41907 MW and 48873 MW respectively.

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