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Bayer to acquire Monsanto in all cash transaction

Bayer to acquire Monsanto in all cash transaction

Sep 14,2016

Monsanto India announced that Bayer and Monsanto signed definitive agreement under which Bayer will acquire Monsanto for USD 128 per share in an all cash transaction.

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Board of Supreme Petrochem to consider December quarter results
Jan 05,2017

Supreme Petrochem announced that a meeting of the Board of Directors of the Company will be held on 24 January 2017, inter-alia to consider and approve the unaudited financial results for the quarter ended 31 December 2016.

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FM: Though world economy is quite fragile yet India appears to be much better placed on back of improvement in its macro-economic fundamentals
Jan 05,2017

The Union Finance Minister Shri Arun Jaitley said though the world economy is quite fragile yet India appears to be much better placed today on the back of improvement in its macro-economic fundamentals. The Finance Minister said that the Governments measures to eliminate the shadow economy and tax evasion are expected to have a positive impact both on GDP and on fiscal consolidation in the long run. The Finance Minister Shri Jaitley was making his Opening Remarks while chairing the Sixteenth Meeting of the Financial Stability and Development Council (FSDC).

The Council reviewed the major issues and challenges facing the economy and noted that India appears to be much better placed today on the back of improvement in its macro-economic fundamentals. The Council also noted that the Governments measures to eliminate the parallel economy and black money are expected to have a positive impact both on GDP and on fiscal consolidation in the long run.

The Regulators offered their suggestions/proposals for the upcoming Budget 2017-18, which were deliberated upon by the Council. The Council also reviewed the present status of NPAs in Banks and the measures taken by Government & RBI for dealing with the stressed assets and discussed on further action in this regard.

FSDC discussed about the various initiatives taken by the Government and Regulators for promoting financial inclusion/financial literacy efforts and discussed further measures for promoting the same.

A Brief Report on the activities undertaken by the FSDC Sub-Committee chaired by Governor, RBI was placed before the FSDC. The Council also undertook a comprehensive review of the action taken by members on the decisions taken in earlier meetings of the Council.

The Council also discussed issues pertaining to Fintech, digital innovations and cyber security. The Council took note of the initiatives taken in this regard by the Government and the Regulators and discussed on further steps to be taken.

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FM: World economy fragile; India appears to be much better placed on back of improvement in its macro-economic fundamentals
Jan 05,2017

The Union Finance Minister Shri Arun Jaitley said though the world economy is quite fragile yet India appears to be much better placed today on the back of improvement in its macro-economic fundamentals. The Finance Minister said that the Governments measures to eliminate the shadow economy and tax evasion are expected to have a positive impact both on GDP and on fiscal consolidation in the long run. The Finance Minister Shri Jaitley was making his Opening Remarks while chairing the Sixteenth Meeting of the Financial Stability and Development Council (FSDC).

The Council reviewed the major issues and challenges facing the economy and noted that India appears to be much better placed today on the back of improvement in its macro-economic fundamentals. The Council also noted that the Governments measures to eliminate the parallel economy and black money are expected to have a positive impact both on GDP and on fiscal consolidation in the long run.

The Regulators offered their suggestions/proposals for the upcoming Budget 2017-18, which were deliberated upon by the Council. The Council also reviewed the present status of NPAs in Banks and the measures taken by Government & RBI for dealing with the stressed assets and discussed on further action in this regard.

FSDC discussed about the various initiatives taken by the Government and Regulators for promoting financial inclusion/financial literacy efforts and discussed further measures for promoting the same.

A Brief Report on the activities undertaken by the FSDC Sub-Committee chaired by Governor, RBI was placed before the FSDC. The Council also undertook a comprehensive review of the action taken by members on the decisions taken in earlier meetings of the Council.

The Council also discussed issues pertaining to Fintech, digital innovations and cyber security. The Council took note of the initiatives taken in this regard by the Government and the Regulators and discussed on further steps to be taken.

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Board of Sastasundar Ventures approves scheme of merger
Jan 05,2017

Sastasundar Ventures announced that the Board of Directors of the Company at its meeting held on 05 January 2017 approved the scheme of merger -

I) PRP Technologies (subsidiary of the Company), Myjoy Tasty Food (subsidiary of the Company) and Myjoy Hospitality (subsidiary of Myjoy Tasty Food) with the Company.

II) Sasta Sundar Shop, a step down subsidiary of the Company with Sastasunder Hospitality, a wholly owned subsidiary of the Company.

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Bafna Pharmaceuticals announces update on board meeting
Jan 05,2017

Bafna Pharmaceuticals announced that meeting of the Board of Directors of the Company was held on 04 January 2017, where it was decided to withdraw entire preferential issue of 40,00,000 share warrants and in-principle application filed with the Stock Exchanges.

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Board of Jagran Prakashan approves buyback of shares upto Rs 302.25 crore
Jan 05,2017

Jagran Prakashan announced that the Board of Directors of the Company at its meeting held on 05 January 2017, unanimously approved a buy-back proposal for the purchase by the Company of up to 1,55,00,000 fully paid up equity shares of face value of Rs 2 each representing 4.74% of the total number of outstanding Equity Shares of the Company, at a price of Rs 195 per Equity Share, for an aggregate amount of Rs 302.25 crore, out of the securities premium account and/or out of free reserves or such other sources as may be permitted by law, from the existing shareholders of the Company on a proportionate basis through a tender offer route as prescribed under the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998 (Buyback Regulations), to all of the shareholders who hold Equity Shares as of the Record Date (as defined in the Buy Back Regulations), on a separate window of the stock exchanges through the tender offer method, under the Buyback Regulations, subject to the condition that the aggregate amount to be expended by the Company for the Buyback shall not exceed 25% of the Companys total paid-up capital and free reserves based on the audited financial statements of the Company as on 31 March 2016.

The Buyback size does not include any expenses incurred or to be incurred for the Buyback like filing fees payable to the Securities and Exchange Board of India and other expenses such as advisors fees, public announcement publication expenses, printing and dispatch expenses and other incidental and related expenses.

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Rally in SSWL counter continues unabated
Jan 05,2017

Meanwhile, the S&P BSE Sensex was up 248.88 points or 0.93% at 26,882.01.

On the BSE, 11,000 shares were traded on the counter so far as against the average daily volumes of 10,659 shares in the past one quarter. The stock had hit a high of Rs 701 and a low of Rs 669.60 so far during the day.

The stock had hit a record high of Rs 775 on 14 October 2016 and a 52-week low of Rs 284 on 17 February 2016. It had outperformed the market over the past one month till 4 January 2017, surging 10.55% compared with the Sensexs 1.53% rise. The scrip had also outperformed the market in past one quarter, advancing 6.77% as against the Sensexs 6% fall.

The small-cap company has equity capital of Rs 15.53 crore. Face value per share is Rs 10.

Shares of Steel Strips Wheels (SSWL) have risen 4.77% in two trading sessions from its close of Rs 656.10 on 3 January 2017, after the company during market hours yesterday, 4 January 2017 issued a 7% growth guidance in its sales volume at 35.6 lakh units in Q4 March 2017 over Q3 December 2016. In response to this announcement, the stock had risen 2.06% to settle at Rs 669.60 yesterday, 4 January 2017.

The buoyant volume growth guidance for Q4 March 2017 vis-n++-vis preceding sequential quarter is primarily driven by passenger cars and very good growth in tractors and truck segment. The commercial vehicles (CV) segment is witnessing very good demand for Q4 March 2017 and will surely negate the demonetization impact, Steel Strips said. The portfolio growth of heavier wheels is getting into high double digit and will surely give its impact on the financial performance of the company in Q4 March 2017, it added.

From its closing of Rs 551.50 on 26 December 2016, SSWL stock has galloped 24.65% in eight straight trading sessions to its ruling market price.

Net profit of Steel Strips Wheels rose 19.9% to Rs 18.02 crore on 2.8% decline in net sales to Rs 290.95 crore in Q2 September 2016 over Q2 September 2015.

Steel Strips Wheels designs and manufactures automotive steel wheels and is among the leading supplier to Indian and global automobile manufacturers.

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Insilco nudges higher after restarting plant operations
Jan 05,2017

The announcement was made during market hours today, 5 January 2017.

Meanwhile, the BSE Sensex was up 241.96 points, or 0.91%, to 26,875.09.

On the BSE, 2,188 shares were traded in the counter so far, compared with an average volume of 28,464 shares in the past one quarter. The stock had hit a high of Rs 27.65 and a low of Rs 26.50 so far during the day.

Insilco had said on 2 January 2017 that the plant will continue to remain shut down due to high inventory & low sales volume & will restart in the evening of 4 January 2017. On 19 December 2016, the company had said that the plant will be shut down from 19 December 2016 to 2 January 2017 due to high inventory and low sales volume.

Insilco is one of the leading producers of precipitated silica in South Asia.

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Ugar Sugar Works jumps 32.82% in eight sessions
Jan 05,2017

Meanwhile, the S&P BSE Sensex was up 208.74 points or 0.79% at 26,844.51.

On the BSE, 8,829 shares were traded on the counter so far as against the average daily volumes of 1.52 lakh shares in the past one quarter. The stock was locked at a high of Rs 30.55 so far during the day. The stock had hit a record high of Rs 73.10 on 1 August 2016 and a 52-week low of Rs 10.90 on 12 February 2016.

The stock had outperformed the market over the past one month till 4 January 2017, gaining 12.14% compared with Sensexs 1.53% gains. The stock had, however, underperformed the market in past one quarter, declining 35.33% as against Sensexs 6% decline.

The small-cap company has equity capital of Rs 11.25 crore. Face value per share is Re 1.

Shares of Ugar Sugar Works has surged 32.82% in eight sessions from a recent close of Rs 23 on 26 December 2016, to its current ruling price.

Sugar stocks had witnessed rally recently on hopes of an increase in mills profitability, following indications of a debt recast by the Ministry of Finance. This would help mills generate profits in the next few quarters on elevated sugar price levels. Debt recast would further lower interest outgo for mills, resulting in an increase in their profits.

Meanwhile, domestic sugar consumption is reportedly likely to outpace production for the second successive year in sugar season ending September 2017, given the lower sugar production in the major states of Maharashtra and Karnataka. While this decline will be offset to some extent by increased sugar production from Uttar Pradesh.

Ugar Sugar Works reported net loss of Rs 25.88 crore in Q2 September 2016 compared with net profit of Rs 29.81 crore in Q2 September 2015. Net sales rose 32.3% to Rs 123.06 crore in Q2 September 2016 over Q2 September 2015.

Ugar Sugar Works is the flagship organization of the Shirgaokar Group of companies. The company has been involved in the manufacture of white crystal sugar for over 75 years.

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Gartner Forecasts Flat Worldwide Device Shipments Until 2018
Jan 05,2017

Worldwide combined shipments of PCs, tablets, ultramobiles and mobile phones are projected to remain flat in 2017, according to Gartner, Inc. Worldwide shipments for these devices are projected to total 2.3 billion in 2017, the same as 2016 estimates.

There were nearly 7 billion phones, tablets and PCs in use in the world by the end of 2016. However, Gartner does not expect any growth in shipments of traditional devices until 2018, when a small increase in ultramobiles and mobile phone shipments is expected.

The global devices market is stagnating. Mobile phone shipments are only growing in emerging Asia/Pacific markets, and the PC market is just reaching the bottom of its decline, said Ranjit Atwal, research director at Gartner.

As well as declining shipment growth for traditional devices, average selling prices are also beginning to stagnate because of market saturation and a slower rate of innovation, added Mr. Atwal. Consumers have fewer reasons to upgrade or buy traditional devices (see Table 1). They are seeking fresher experiences and applications in emerging categories such as head mounted displays (HMDs), virtual personal assistant (VPA) speakers and wearables.

The embattled PC market will benefit from a replacement cycle toward the end of this forecast period, returning to growth in 2018. Increasingly, attractive premium ultramobile prices and functionality will entice buyers as traditional PC sales continue to decline. The mobile phone market will also benefit from replacements. There is, however, a difference in replacement activity between mature and emerging markets. People in emerging markets still see smartphones as their main computing device and replace them more regularly than mature markets, said Mr. Atwal.

Device vendors are increasingly trying to move into faster-growing emerging device categories. This requires a shift from a hardware-focused approach to a richer value-added service approach, said Mr. Atwal. As service-led approaches become even more crucial, hardware providers will have to partner with service providers, as they lack the expertise to deliver the service offerings themselves.

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Lypsa Gems shines on new order, extends recent rally
Jan 05,2017

The announcement was made during market hours today, 5 January 2017.

Meanwhile, the S&P BSE Sensex was up 207.73 points or 0.78% at 26,840.86.

On the BSE, 74,000 shares were traded on the counter so far as against the average daily volumes of 50,962 shares in the past one quarter. The stock had hit a high of Rs 65 and a low of Rs 61.50 so far during the day.

The stock had hit a record high of Rs 154.50 on 6 January 2016 and a record low of Rs 49 on 30 November 2016. It had outperformed the market over the past one month till 4 January 2017, surging 20.58% compared with the Sensexs 1.53% rise. The scrip had also outperformed the market in past one quarter, advancing 10.2% as against the Sensexs 6% fall.

The small-cap company has equity capital of Rs 21.06 crore. Face value per share is Rs 10.

The latest order was secured from customers based out of UAE. This order will be executed over a 9-month period.

Following the revival of demand in the diamond industry, Lypsa is seeing an uptrend in demand from its customers both in India and overseas as well.

Director of Lypsa Gems, Jeeyan Patwa said, the company is looking to further strengthen its presence in the international markets across the loose diamonds and jewellery segments. Lypsa is on track to achieve its vision of profitable growth not only in the international market but also the domestic markets and is targeting to become a debt free company soon, Patwa said.

Meanwhile, shares of Lypsa Gems are on a rising trend. The stock has risen 18.6% in seven straight trading sessions at its ruling market price, from its close of Rs 52.95 on 27 December 2016.

The company had last month announced securing an order worth Rs 17.7 crore for diamonds and diamond-studded jewellery.

On a consolidated basis, Lypsa Gems & Jewellerys net profit fell 24.5% to Rs 4.58 crore on 55.5% decline in net sales to Rs 64.11 crore in Q2 September 2016 over Q2 September 2015.

Lypsa Gems & Jewellery is a wholly owned integrated diamond company sourcing rough diamonds from the major diamond mines and dealers, cutting and polishing them in its own factories & marketing its product to clients across the globe. It also sells diamond-studded jewellery under the Oropel and Lypsa Atelier brand names.

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Moodys: Global oil and gas industry to see continued tepid prices, belt-tightening in 2017
Jan 05,2017

Oil prices likely will remain volatile and range-bound in the coming year, Moodys Investors Service says in a new report discussing its expectations for the global oil and gas industry. Alongside anticipated changes in US energy policy focused on domestic development and deregulation, the industry will see increased merger & acquisition (M&A) activity in both the North American E&P and midstream sectors.

The rating agencys oil and natural gas price estimates -- within a medium-term oil price band of $40-$60/bbl for both Brent and West Texas Intermediate (WTI) crude globally and in North America -- remain unchanged for 2017-19 from its November 2016 update. Moodys expects prices to remain volatile within this band.

We foresee three possible scenarios for oil prices in 2017, each with their own impact on ratings, says Moodys managing director, Steve Wood. If they retreat to the low $40s, stress in the oil and gas industry will again increase, while prices in the mid-to-high $40s would continue to offer some relief for oil producers. At a sustainable mid-$50/bbl level, however, we could take more positive rating actions on integrated and exploration and production companies.

Under the Trump administration, US energy policy likely will prioritize domestic oil and coal production, in addition to reducing federal regulatory burdens. Energy infrastructure projects would benefit most immediately, but the success of other policy goals, such as easing the permitting and leasing of new coal mines, will depend on their ability to generate favorable economic returns. Meanwhile, a US failure to work toward the Paris Climate Agreement commitments could lead to a carbon tax on US exports or other retaliatory trade measures.

Increasing confidence in the oil and gas industrys prospects will spur acquisition activity among North American exploration and production (E&P) firms, Moodys says. Debt and equity markets are again offering financing for producers seeking to re-position and enhance their asset portfolios after a lull. M&A will also pick up in the midstream sector. At the same time, integrated oil and gas firms will continue to improve their cash flow metrics and leverage profiles by cutting operating costs, further reducing capital spending and divesting assets.

Even so, the oilfield services and drilling (OFS) sector is in for another tough year, with continued weak customer demand, overcapacity and a high debt burden.

Demand for the services of OFS companies will grow only very gradually next year, while pricing recovery and cash flow growth will lag those of upstream customers by at least a year, Wood says. Within the broader energy sector, we expect the OFS sector to suffer the most defaults in 2017 as more companies run out of cash and credit lines, struggle with debt covenants and maturities and produce barely breakeven cash flow.

Meanwhile, EBITDA growth of 5% or less in 2017 will strain the North American midstream sectors ability to reduce debt leverage, in some cases putting investment-grade ratings at risk. Midstream growth capital spending will again drop by about 20%, with slower growth leading more companies to resort to self-help measures to address balance-sheet, funding and distribution concerns.

And though funding risk has declined somewhat for Latin Americas national oil companies, it will remain an issue for years to come, given tight capital market conditions and volatile oil and gas prices and cash flows, Moodys says. Meanwhile, Russias agreement to cut oil production next year poses little difficulty for the countrys oil companies, since the move effectively freezes production rates and likely will entail the resumption of cuts in Western Siberia, which is already in decline.

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JMD Telefilms Industries announces change in directorate
Jan 05,2017

JMD Telefilms Industries announced that Renu Kedia, Non-Executive, Independent Director of the Company, has resigned from the Directorship of the Company w.e.f. 04 January 2017 and in her place, Saroj Devi Kothari has been appointed as Additional Director, (Independent) of the Company with effect from 04 January 2017 and will hold the office till conclusion of next Annual General Meeting.

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Prime Capital Market announces change in directorate
Jan 05,2017

Prime Capital Market announced Susmita Kundu, Non-Executive Independent Director of the Company, has resigned from the Directorship of the Company w.e.f. 04 January 2017 and in her place, Saroj Devi Kothari has been appointed as Additional Director, (Independent) of the Company with effect from 04 January 2017 and will hold the office till conclusion of next Annual General Meeting.

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Lypsa Gems & Jewellery bags order worth Rs 22.3 crore
Jan 05,2017

Lypsa Gems & Jewellery DMCC, a wholly owned subsidiary ofLypsa Gems & Jewellery has received a prestigious new order worth Rs. 22.3 crore on from customers based out of UAE, for the supply of diamonds and diamond-studded jewellery. This order will be executed over a 9-month period.

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