TCS may rise on buyback plan

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TCS said that its board of directors will meet on 15 June 2018 to consider a proposal for buyback of equity shares of the company. The announcement was made after market hours yesterday, 12 June 2018.

Sun Pharmaceutical Industries (Sun Pharma) announced that it has received the Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for the inspection conducted at its Halol facility (Gujarat, India) during the period 12-23 February 2018. The agency concluded that the inspection is now closed and the issues contained in the Warning Letter issued in December 2015 have been addressed.

Commenting on the development, Dilip Shanghvi, managing director, Sun Pharma said that this is an important development for the company. Sun Pharma remains committed to following the highest levels of quality and 24x7 cGMP compliance at all its manufacturing facilities globally. The announcement was made after market hours yesterday, 12 June 2018.

Page Industries announced that its license agreement with Jockey International Inc., has been extended till 31 December 2040. The announcement was made after market hours yesterday, 12 June 2018.

Federal Bank said it entered into definitive agreements for investment upto 19.89% in the equity share capital of Equirus Capital. The announcement was made after market hours yesterday, 12 June 2018.

Nitin Spinners said that a meeting of the securities issuance committee of the company will be held on 15 June 2018, to approve the issue price for preferential allotment. The announcement was made after market hours yesterday, 12 June 2018.

Alok Industries said that pursuant to the hearing before the National Company Law Tribunal, Ahmedabad bench (NCLT) held on 11 June 2018, the NCLT, in light of the provisions of the Insolvency & Bankruptcy Code (Amendment) Ordinance, 2018, has directed the resolution professional of Alok Industries to convene a meeting of the committee of creditors and present the resolution plan that was voted upon in its meeting on 13 April 2018. The formal order of the NCLT is awaited. The company may, if required, make further disclosure once the order is received. The announcement was made after market hours yesterday, 12 June 2018.

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