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Torrent Pharma may gain after raising funds

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Torrent Pharmaceuticals said that the company has issued non-convertible debentures on private placement basis for Rs 500 crore. The coupon rate on debentures is 7% per annum. The tenor of the debentures is 360 days, with date of maturity being 29 November 2018. The announcement was made after market hours yesterday, 5 December 2017.

Punjab Chemicals & Crop Protection said that the company's board will consider the option to raise long term resources by way of further public offering/ rights issue/ Global Depository Receipt/ American Depository Receipts/ Foreign Currency Convertible bonds/ Qualified institutional placement/ debt issue/ preferential issue or any other method, as may be deliberated and decided by the board of directors of the company. The announcement was made after market hours yesterday, 5 December 2017.

Kanpur Plastipack said that the company's board of directors has fixed 15 December 2017 as record date for issue of shares on rights basis. The announcement was made after market hours yesterday, 5 December 2017.

Tata Communications will be in focus as international fleet management application provider, DRVR has selected Tata Communications as its global IoT connectivity partner to help achieve its objective of making Asia's vehicle fleets the smartest and most cost-efficient in the world. Leveraging Tata Communications' mobility solution-MOVE, DRVR can convert information collected from vehicles across Thailand, Myanmar, Philippines and Indonesia into actionable insights to help drive efficiencies and improve cost savings through smarter fleet management. The announcement was made before market hours today, 6 December 2017.

Reliance Communications said that Fitch Ratings (Fitch) has withdrawn C rating of company's Long-Term Foreign and Local Currency Issuer Default Ratings and bonds listed in Singapore stock exchange due to commercial reasons.

The company has already informed all the stakeholders that the lenders of the company have invoked Strategic Debt Restructuring (SDR) Scheme as per RBI Guidelines and pursuant to the said guidelines; the company is under standstill period till December 2018. The company has also announced various asset sales and a comprehensive debt resolution plan vide letter dated 30th October, 2017. Accordingly, for the time being, no payment of interest and/or principal is being made to any lenders and / or bondholders of the company. The announcement was made after market hours yesterday, 5 December 2017.

The Byke Hospitality's net profit fell 9.7% to Rs 5.21 crore on 45.1% decline in net sales to Rs 29.41 crore in Q2 September 2017 over Q2 September 2016. The announcement was made after market hours yesterday, 5 December 2017.

sensitive bank, realty and auto stocks will be in focus as the Reserve Bank of India announces its monetary policy decision today, 6 December 2017.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, December 06 2017. 08:43 IST
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