Asian Paints announced after market hours on Friday, 22 August 2014, that Berger International (BIL), Singapore, a subsidiary of Asian Paints (International) (APIL), Mauritius, a wholly owned subsidiary of the company, has on 22 August 2014 filed an application for investment approval with the Regulatory authorities at Jakarta, Indonesia for setting up a paint manufacturing facility as part of a greenfield foray into Indonesia. This greenfield venture is subject to necessary statutory and other approvals.
Infosys announced after market hours on Friday, 22 August 2014, that the Management Development and Compensation Committee of the Board on 21 August 2014 granted 22,794 Restricted Stock Units (RSUs) to Dr. Vishal Sikka (CEO and Managing Director). The grant price of the RSU is Rs 5 per RSU. The RSUs will vest over a period of 4 years subject to continued employment and upon achieving Key Performance Indicators as set by the Board/Management Development and Compensation Committee from time to time. The RSU grant will also be subject to the terms, definitions and provisions of the 2011 RSU Plan.
Gujarat State Fertilizers & Chemicals (GSFC) announced after market hours on Friday, 22 August 2014, that the company's Ammonia-IV Plant shall undergo shut down for a period of 12 days from 24 August 2014, with a view to attend the Isothermal Shift Reactor (ISR), which has developed minor technical problem and upon resolution, the said plant would come back into the mainstream. During the period the Urea II plant will also undergo shutdown, the company said in a statement.
Sonata Software announced at the fag end of market hours on Friday, 22 August 2014, that on 22 August 2014, Sonata Software North America Inc., a wholly owned subsidiary company of Sonata Software, has signed definitive agreements to acquire a controlling stake in Rezopia Inc., a California, USA headquarted company which runs a cloud based end-to-end reservations, contracts, operations and distributions management platform for travel providers.
In a separate transaction, Sonata Software under a business transfer agreement., purchased the business of Xyka India, a Bangalore based company and the sole service provider to Rezopia Inc. The company will announce a detailed press release regarding the above development on Monday, 25 August 2014.
Shares of Steel Authority of India (Sail) will be watched. Union Minister for Steel, Mines, Labour & Employment, Narendra Singh Tomar inaugurated a "Heat Hardening Pelletisation Unit" at Sail Research & Development Centre for Iron & Steel (RDCIS), Ranchi on Saturday, 23 August 2014. This unit shall facilitate in resolving the problems being faced by Indian steel industry for beneficiation of iron ore. Sail can now develop relevant technology parameters for producing heat hardened pellets from geothite / hematite iron ores. Different units of biological waste water treatment plant for Coke Oven Effluent treatment were also inaugurated on the occasion. It will help Sail and Indian steel industry to conform to the stringent norms of Environment.
While addressing the SAIL collective, Tomar said, "Steel industry is the core industry which reflects the technological status of the country and for a self-reliant India, PM's vision of "Make in India - Made in India" needs to be internalised by the erudite researchers and technologists of Sail and steel sector."
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Cosmo Ferrites announced after market hours on Friday, 22 August 2014, Preference Share Allotment Committee of the Company at a meeting held on 22 August 2014 decided allotment of 1 lakh non-convertible 10% cumulative redeemable preference shares, of Rs 100 each to: Sterling Oxide.
Gulshan Polyols announced after market hours on Friday, 22 August 2014, that the Board of Directors of the company at its meeting held on 22 August 2014, have approved preferential issue of 5 lakh shares at a price of Rs 175 share. and preferential issue of 5 lakh convertible warrants into shares at a price of Rs 175 share to the foreign institutional investors.
Trident announced after market hours on Friday, 22 August 2014, that CRISIL has issued results update on financial results for Q1 June 2014 of Trident and has assigned fundamental grade '3/5' to the company. The grade indicates that the company's fundamentals are "good" relative to other listed equity securities in India. CRISIL equity has assigned a valuation grade of '5/5' indicating that market price has 'strong upside' from the current levels.
The board of MT Educare has approved fresh issue of shares up to a maximum amount of Rs 50 crore through qualified institutions placement (QIP).
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