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Wednesday, July 1, 2015

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Relaxo Footwears touches fresh high on ex-bonus
Shares of Relaxo Footwears rose 4% at Rs493, also their record high on the BSE. Today, the stock turned ex- bonus in the ratio of 1:1.The board of directors of the footwear company at its meeting held on May 11, 2015, had recommended the issue of bonus shares in the ratio of 1:1 i.e. one equity share for every one equity share held. Since then, the stock has outperformed the market by gaining 38% on BSE.
                                                                                     
Puravankara jumps after company monetise its land
Puravankara Projects rose over 10%, touching to Rs87.75, after the company has monetised its land in Bengaluru. Puravankara has entered into an agreement to sell for its 18 acre property located off Kanakapura Road, Bengaluru,' said the company. This is a strategic transaction and coincides with our business and capital strategy of the group, it added.

BASF receives Rs144 cr from sales of textile business
BASF receives Rs144 cr from sales of textile business – Positive read thru .BASF India Ltd has now informed that the said closing has taken place and consequently, with effect from July 01, 2015, the textile chemicals business of the Company will stand transferred to Archroma India Private Limited on a 'going concern basis'.

Maharashtra nods for Rs5,000 cr irrigation project
The Ministry of environment and forest approved a Rs4845 crore Krishna-Marathwada irrigation project that will irrigate nearly one lakh hectares land in the drought and suicide prone Marathwada region. The proposal was pending with the environment and forest ministry for a prolonged time. The scheme, being implemented under the Narmada-Malwa-Gambhir link project, will provide irrigation facility in several villages covering 50,000 hectares of area in Indore and Ujjain districts.
                                                                                                                                                         
Ashok Leyland receives order worth $50mn from Zimbabwe
Ashok Leyland has received an order worth $50mn from Zimbabwe for supply of 633 commercial vehicles and spare parts. The order also includes services such as training and maintenance. The order is financed by the Exim bank.

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