Tata Power Company said that its subsidiary has completed sale of its 50% stake in OTP Geothermal Pte. Tata Power International Pte. (TPIPL), a wholly-owned subsidiary of Tata Power Company in Singapore had signed an agreement for the sale of its 50% stake in OTP Geothermal Pte. (OTP) to KS Orka Renewables Pte. in April 2016. OTP, a 50:50 joint venture with Origin Energy, holds a 95% interest in Indonesia's PT Sorik Marapi Geothermal Power (SMGP). The announcement was made after market hours yesterday, 16 August 2016.
Wipro announced after market hours yesterday, 16 August 2016, that it has successfully launched its Managed File Transfer as a Service (MFTaaS) platform on Microsoft Azure. The Software as a Service (SaaS) platform will help enterprises in seamless digital integration and cost-effective collaboration with their clients, partners and employees. The Wipro MFTaaS platform has been published on Azure Marketplace. The platform enables customers widen their reach to new markets by seamlessly integrating with their partner ecosystem. It makes use of Microsoft's cognitive capabilities and collaboration workflows to increase productivity and eliminate wastages in business processes.
Hero MotoCorp said before market hours today, 17 August 2016 that Sunil Kant Munjal's tenure as Joint Managing Director of the company ended on 16 August 2016. He has also resigned from the board of directors of the company with effect from the same date. In addition, the company said it has received a communication from the individual promoters of the company stating that pursuant to the aforesaid realignment, Sunil Kant Munjal will henceforth, not be classified as a promoter of the company. However, Sunil Kant Munjal will continue to hold 32,500 equity shares of the company representing 0.02% of the issued and paid up share capital of the company in his individual capacity. In July this year company had informed regarding realignment of business interests amongst the promoters of the company.
Just Dial's net profit rose 7.98% to Rs 38.93 crore on 14.06% rise in total income to Rs 204.95 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 16 August 2016.
Just Dial also said that the board of directors of the company at a meeting held on 16 August 2016 approved a draft scheme of arrangement between Just Dial and Just Dial Global Private Limited (JDGPL) for demerger of Data and Information Undertaking (demerged undertaking) of JDGPL into the company, subject to requisite approvals.
Piramal Enterprises (PEL) announced that its wholly owned subsidiary in the US has entered into an agreement to acquire 100% stake in Ash Stevens Inc., a US based Contract Development and Manufacturing Organisation (CDMO), in an all cash deal for a total consideration of $42.95 million plus an earn-out consideration capped at $10 million, subject to achievement of certain EBITDA targets, payable over the next six months. This potential transaction is expected to be completed by end of August, PEL said. This acquisition adds niche potent molecule manufacturing capabilities to the portfolio of services offered by PEL's pharma solutions business, the company said. Ash Stevens had revenue of about $18.3 million in FY15 (twelve months ended 30 September 2015), it added.
Greenply Industries said that the qualified institutional placement (QIP) committee of the board of directors of the company at its meeting held on 16 August 2016, approved the issue and allotment of 19.45 lakh shares to qualified institutional buyers at the issue price of Rs 257 per share, aggregating to Rs 49.99 crore. The announcement was made after market hours yesterday, 16 August 2016.
MEP Infrastructure Developers said that a meeting of board of directors of the company will be held on 24 August 2016, to consider fund raising options as maybe deliberated and decided by the board of directors of the company. The announcement was made after market hours yesterday, 16 August 2016.
Shriram Transport Finance Company announced after market hours yesterday, 16 August 2016 that the Allotment Committee - Non-Convertible Debentures (NCDs) of the company in a meeting held on 16 August 2016 approved and allotted 250 secured redeemable NCDs of face value of Rs 10 lakh each, aggregating to Rs 25 crore on private placement basis.
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