Mahindra & Mahindra (M&M) announced that the company plans to invest directly and/or through its subsidiary(ies) in high-end electric powertrain technology as part of its plan for the future of mobility; and electrification of some of its existing and future products.
The investments will also be utilised towards increasing the capacity for electric powertrains and electric vehicles. The high end electric powertrains will be used for the Group's future line up of electric vehicles. As the pioneers of electric vehicles in the country, the Group is committed towards making electric vehicles more accessible in order to build a clean and green tomorrow.
The company's announcement is in line with its efforts to accelerate the transformation as well as be in-sync with the Government of India's thrust on promoting hybrid and electric mobility in the country, through the ambitious National Electric Mobility Mission Plan 2030. The announcement was made on Sunday, 21 May 2017.
GAIL (India) announces Q4 results today, 22 May 2017.
Adani Ports and Special Economic Zone announced that Board of Directors at the meeting on 24 May 2017 will consider to raise funds by issue of equity shares/ convertible bonds through qualified institutional placement (QIP)/GDR/ADR/FCCBs/FCEBs/convertible securities.
The board will also consider issue secured/ unsecured redeemable non-convertible debentures on private placement basis.
The board will consider issue of bonds which may be issued in one or more tranches, in India or overseas, and that may be listed in any one or more stock exchanges in India or overseas, provided that the total amount does not exceed $1.5 billion on private placement basis or otherwise, to any persons, entities, bodies corporate, companies, banks, financial institutions and any other categories of eligible investors permitted to invest in the Bonds under applicable laws. The announcement was made on Saturday, 20 May 2017.
VRL Logistics' net profit fell 29.72% to Rs 8.38 crore on 6.58% rise in total income to Rs 444.98 crore in Q4 March 2017 over Q4 March 2016. The announcement was made after market hours on Friday, 19 May 2017.
Bhushan Steel announced that it had participated in iron ore mine open bidding for the Kalmong West Block in Sundergarh district having a reserve of 92 million tonne and won the auction. The announcement was made after market hours on Friday, 19 May 2017.
Mahindra Holidays and Resorts India's net profit rose 4.5% to Rs 31.8 crore on 26.3% rise in total income to Rs 315.7 crore in Q4 March 2017 over Q4 March 2016. The announcement was made after market hours on Friday, 19 May 2017.
The board approved 1 bonus issue of share for 2 shares held.
Camlin Fine Sciences' board at a meeting held on 19 May 2017 has approved to raise funds not exceeding Rs 250 crore by way of QIP/ GDR/ADR/FCCB/ other securities linked to equity/ preference shares/ convertible securities, subject to approval of shareholders. The board has appointed Santosh Parab as CFO of the company with effect from 10 May 2017. The announcement was made after market hours on Friday, 19 May 2017.
Hindustan Copper has prepared a feasibility report for a project to manufacture copper cathode from sulphide copper concentrate through a "State of the Art" Hydro-Metallurgy technology. The capacity of the proposed plant is 1 lakh tonne per annum at an estimated cost of Rs 3025 crore. The company has initiated process to obtain investment approval from CCEA, Govt. of India. The announcement was made after market hours on Friday, 19 May 2017.
Sun Pharma Advanced Research Company said it has received a Complete Response Letter (CRL) from the USFDA for its New Drug Application (NDA) for Elepsia XRTM, Levetiracetam extended-release tablets 1000 mg and 1500 mg. The CRL references the recent inspection of the Sun Pharmaceutical Industries (SPIL)'s Halol manufacturing site by USFDA and indicates that, satisfactory resolution of the deficiencies identified during the inspection is required before the final approval of Elepsia XRTM can be granted.
SPARC had out-licensed Elepsia XRTM to a subsidiary of Sun Pharmaceutical Industries in July 2016. As informed to the cmpany, SPIL is working with USFDA for resolving the cGMP deviations at the Halol facility and has taken several corrective measures. The announcement was made after market hours on Friday, 19 May 2017.
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