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Larsen & Toubro
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Larsen & Toubro (L&T) and Kemroc, a global manufacturer of attachments for excavators and backhoe loaders, have entered into a distribution agreement that will facilitate Kemroc products to be distributed and promoted in the Indian market by L&T.
The agreement covers Kemroc-developed special attachments including its patented EK series of Chain Cutters. These chain cutters are a game changer in rock trenching and are well accepted across the world, including India.
This strategic partnership will enable L&T to expand its product offerings and provide comprehensive solutions to customers in the construction industry in India. L&T already offers special attachments such as Crusher Bucket, Rock Breakers, Quick Couplers, Demolition Tools and Piling Solutions with tie-ups from international brands such as Komatsu, Sandvik and Movax.
L&T team received an initial order for Kemroc KRL110 Pile Cutter attachment for job-work for IOCL site at Paradip, Odisha.
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Nirlon
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Nirlon announced that the interest rate on the Company's debt taken
from HDFC, will be reduced from 7.25% to 6.60% p.a. effective from
16 December 2021 as per the e-mail received from HDFC on 02 December 2021.
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NOCIL
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NOCIL has allotted 73,925 equity shares under ESOP on 02 December 2021. With this allotment, the equity share capital has increased to 16,65,17,980 equity shares of Rs 10 each.
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Punjab Alkalies
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Punjab Alkalies & Chemicals announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 28 December 2021.
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Unichem Labs.
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Unichem Laboratories has received ANDA approval for its Aripiprazole Tablets USP, 2 mg, 5 mg, 10 mg, 15 mg, 20 mg, and 30 mg
from the United States Food and Drug Administration (USFDA) to market a generic version of Abilify®Tablets, 2 mg, 5 mg, 10 mg, 15 mg, 20 mg, and 30 mg, of Otsuka Pharmaceutical Company.
Aripiraprazole tablets are indicated for Schizophrenia and Irritability associated with Autistic Disorder. The product will be commercialized from Unichem's Ghaziabad Plant.
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XPRO India
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The Board of XPRO India at its meeting held on 02 December 2021 has approved the issuance of up to 19,68,000 warrants, each carrying a right to subscribe to 1 equity share having face value of Rs 10, at an exercise price of Rs 762, on preferential basis.
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R C F
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Rashtriya Chemicals & Fertilizers announced the appointment of Kashee Nath Akela (DIN: 09410361) as Non-Official Director (Independent Director) on the Board of Rashtriya Chemicals and Fertilizers w.e.f. 01 December 2021.
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S T C
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State Trading Corporation of India announced appointment of Dr. Bhim Singh (DIN: 09407618) and Dr. Rohini Sanjay Kachole (DIN: 09405874) as Additional Director (Non Official - Independent Director) with effect from 01 December 2021.
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Hindustan Zinc
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The Board of Hindustan Zinc will meet on 07 December 2021 to consider and approve interim dividend on equity shares, if any, for the financial year 2021-22.
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KDDL Ltd
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KDDL announced that the Board of Ethos (the company's material subsidiary) at its meeting held on 01 December 2021 has approved the allotment of 457,938 equity shares of Rs 10 each at a premium of Rs 540 per share for an amount of Rs 25.19 crore to existing shareholders of the Company through the mode of Rights Issue.
After the aforesaid allotment, the shareholding of KDDL in Ethos is 76.61% (directly and indirectly).
The Board also considered and recommended raising of capital through an Initial Public Offering of the Company for an amount not exceeding Rs. 500 crore from Fresh Issue of capital, at a price to be determined in consultation with the book running lead managers. The proposed Initial Public Offering may also include an offer for sale by the existing shareholders of the Company. The Board has resolved to convene an Extraordinary General meeting of the Shareholders of the Company on 30 December, 2021 for seeking their necessary approval for the proposed Initial Public Issue.
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