NBCC (India) in focus after securing new orders

NBCC (India) has secured new orders for five infrastructure projects. The total estimated costs of these projects is approximately Rs 1003 crore. The announcement was made after market hours yesterday, 27 March 2019.

Dabur India said that the dissolution of step down wholly owned subsidiary, Dabur Tunisie, is likely to be completed by 31 December 2019, instead of March 2019, due to certain legal and regulatory compliances under the law of Tunisia. The announcement was made after market hours yesterday, 27 March 2019.

Strides Pharma Science said its shareholders approved divestment of Australian business. The shareholders also approved transactions/contracts/arrangements with Solara Active Pharma Sciences upto Rs 500 crore in each financial year, commencing from FY 2018-2019. The announcement was made after market hours yesterday, 27 March 2019.

Mcleod Russel India announced that the transaction for sale of the equity stake held by Borelli Tea Holdings, UK ('Borelli'), a wholly-owned subsidiary, in Gisovu Tea Co., Rwanda (Gisovu), being 60% of the paid up capital of Gisovu, in terms of the memorandum of understanding (MoU) signed between Borelli and Rwanda Tea Co., UK completed on 26 March 2019 by virtue of completion of the share transfer process. In view of the above, Gisovu has ceased to be a subsidiary of Borelli and step-down subsidiary of the company. The announcement was made after market hours yesterday, 27 March 2019.

Mahindra & Mahindra Financial Services said that its board, pursuant to the offer made by National Housing Bank (NHB) vide their letter dated 11 March 2019, approved the acquisition of 1,18,91,511 equity shares of Rs 10 each of Mahindra Rural Housing Finance (MRHFL), a subsidiary of the company, at a premium of Rs 231.16, aggregating to Rs 286.78 crores from NHB. Consequently, the shareholding of the company in MRHFL will increase from 88.75% to 98.43% as and when the shares are acquired. The announcement was made after market hours yesterday, 27 March 2019.

Nelco said its board has granted in principle approval for sale of the company's entire investment of 2.53 lakh equity shares, or 12.30% equity, of Nelito Systems at a consideration of Rs 6.77 crore to DTS Corporation, Japan. The announcement was made after market hours yesterday, 27 March 2019.

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