Tata Power Company after market hours said that a meeting of the board of directors of the company has been convened on 27 February 2014 to consider various fund raising options including but not limited to equity issuances by way of a rights issue, preferential issue, qualified institutions placement or any combination thereof
NHPC announced after market hours on Monday, 24 February 2014 that an memorandum of understanding (MoU) has been signed on 22 February 2014 amongst NHPC, Bihar State Power Generation Company and Pirpainti Bijlee Company (PBCPL) for participation in PBCPL, to develop 1320 (2X660) megawatts (MW) Pirpainti Supercritical Thermal Power Project in Distt Bhagalpur of Bihar state.
Cadila Healthcare announced after market hours that it has received the final approval from the US Food and Drug Administration (USFDA) to market Clonidine Hcl Injection 0.1 and 0.5 mg/ml, 10 ml in the United States. Clonidine hydrochloride injection is a centrally acting analgesic solution for use in continuous epidural infusion devices which is indicated in combination with opiates for the treatment of severe pain in cancer patients that is not adequately relieved by opioid analgesics alone. Cadila Healthcare said that the company now has 90 approvals and has so far filed 216 ANDAs since the commencement of filing process in FY 2003-04.
Ranbaxy Laboratories said it is currently examining processes and controls at all company's active pharmaceutical ingredients (API) manufacturing and quality units. This action has led to temporarily putting on hold shipments from company's API facilities of the Toansa and Dewas Plants. This voluntary decision was taken as a precautionary measure and out of abundant caution to better allow the company to assess and review the processes and controls. The company said it will resume shipments after reassuring them about the processes and controls at these facilities.
Meanwhile, a committee of the board has been constituted in February 2014 as the "quality & integrity committee". The committee's objective is to help and assure good governance to all Ranbaxy stakeholders. Its primary role is to provide oversight on the company's manufacturing and quality operations, systems, organization and integrity, Ranbaxy Laboratories said in a statement.
Jaiprakash Associates, burdened with Rs 60000 crore of consolidated debt, is reportedly in talks to sell its 74% stake in two cement joint ventures with state-run steel maker Sail to Holcim-owned Associated Cement Companies for Rs 2900 crore.
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Shree Renuka Sugars said that its board will meet on 27 February 2014, to consider a proposal for issue of equity shares to the existing equity shareholders of the company on a rights basis (rights issue), subject to the applicable laws and regulatory approvals.
Tech Mahindra announced after market hours on Monday, 24 February 2014 the launch of its Near Field Communication (NFC) test lab in Bangalore, India. The NFC Testing and Consulting capabilities in the lab will cater to the fast-growing needs of chipset manufacturers, OEMs, Service Providers, Acquires and Issuers from the banking industry. The state-of-the-art ISO 17025 Accredited Lab, has 100% capability to meet the Wave1 test requirements as mandated by the NFC Forum. It also has the infrastructure to meet the upcoming Wave2 test requirements of the Forum.
According to a leading research company, with nearly 400 million NFC-enabled smartphones deployed worldwide, and growth projections nearing 1 billion handsets by 2016, we are reaching critical mass for large-scale application and infrastructure deployments. The Tech Mahindra NFC Testing Lab is also gearing to support the above demand and to also offer Payments Certification and Testing Solutions to the leading global banks.
Speaking on the occasion, Sirisha Voruganti, Head, Device Testing, Tech Mahindra said, The convergence of payments schemes on the smartphones from leading banks has caused a lot of interoperability and compliance issues in the network as well. With this test lab, we are geared to help the Chipset manufacturers, OEMs and Service Providers to reduce the failure rates to NIL in the field and hasten their market growth. Our Lab focuses on troubleshooting and consulting with global clients while providing cost-effective test solutions
Additionally, Tech Mahindra had also announced acquisition of lab assets and operations of the Type Approval Lab in Lund, Southern Sweden from Sony. It is now company's flagship lab in Europe serving key customers and providing end-to-end test solutions to device manufacturers and Global Carriers.
Tech Mahindra already has 6 Test Labs located across the globe offering Operator Acceptance Test Schemes, Conformance Tests, Regulatory and R&D test support to its customers and the latest lab addition in Bangalore catering to the enterprise sector, further enhances the test market reach.
United Bank of India issued clarification after market hours on Monday, 24 February 2014 regarding news reports A Rs 800 crore credit line goes out of control at one of the bank's New Delhi branches that the bill discounting against letter of credit, issued by the reputed banks is an accepted practice in banking industry, Such type of credit line extended, is regarded as exposure on counter party banks. The said credit lines were extended against letter of credits, issued primarily by public sector banks and duly accepted for payment on due dates, by the LC-issuing banks. The present outstanding has come down to about Rs 163 crore after receiving payments from LC-issuing banks. As the exposure is on counter party banks, the bank does not foresee any problem in realisation on due dates, the bank said.
Petron Engineering Construction announced after market hours on Monday, 24 February 2014 that the company has received Letter of Intent dated 19 February 2014 from JBF Petrochemicals, Mangalore for Composite works comprising Civil, Structural, Underground Piping, Buildings, Mechanical Piping, Insulation, Painting, Electrical & Instrumentation works for its JBF PTA OSBL Project at Mangalore for an approx. contract value of Rs 196 crore plus service tax.
Elecon Engineering Company announced after market hours on Monday, 24 February 2014 that the company's Subsidiary company namely Elecon EPC Projects, has been awarded a prestigious order from NTPC for Ex-works (India) supply for Coal Handling Plant Package of Gadarwara Super Thermal Power Projects, Stage - I (2x800MW) aggregating worth of Rs 246.78 crore.
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