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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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Astral Poly Technik to pay interim dividend
Nov 18,2016

Astral Poly Technik announced that interim dividend will be paid before 10 December 2016.

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Tata Power Company announces cessation fo director
Nov 18,2016

Tata Power Company announced about the expiry of term of office of Piyush G. Mankad, an Independent Director on the Companys Board, consequent upon his completing 75 years of age, as required by the guidelines adopted by the Company for retirement of Non-Executive Directors. Consequently, he has ceased to be a member of the Companys Board effective 18 November 2016.

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Dilip Buildcons JV awarded project at Nigahi OCP
Nov 18,2016

Dilip Buildcon announced that Northern Coalfields (M.P) has declared DBL-DECO (a joint venture of the Company) as the successful bidder (L1) for Excavation of Overburden of First Dig (Solid) and Re-handling by Mechnical Means at specified places at NIGAHI OCP of NCL at a project cost of Rs 1469.84 crore having Average lead 5.00km and quantity (BCM) completion 132460000 (the project).

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Petronet LNG hardens after strong Q2 result
Nov 18,2016

The announcement was made after market hours yesterday, 17 November 2016.

Meanwhile, the S&P BSE Sensex was down 18.72 points or 0.07% at 26,208.90

On BSE, so far 1.23 lakh shares were traded in the counter as against average daily volume of 1.28 lakh shares in the past one quarter. The stock hit a high of Rs 374 and a low of Rs 364.25 so far during the day. The stock had hit a record high of Rs 410.85 on 17 October 2016. The stock had hit a 52-week low of Rs 203.85 on 19 November 2015.

The large-cap company has equity capital of Rs 750 crore. Face value per share is Rs 10.

Petronet LNG was formed as a joint venture by the Government of India to import liquified natural gas (LNG) and set up LNG terminals in the country.

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Inclusion of Large Hydro Power Projects Under the Ambit of Renewable Energy
Nov 18,2016

The Ministry of New and Renewable Energy (MNRE) is examining the prospects of including all hydro power projects under Renewable Energy Sector. Hydro power can be called renewable energy because it uses water for generation of electricity without any consumption and leaves this vital resource available for other uses.

The norms of Small Hydro Power Projects (SHP) differ from country to country. In some countries station capacity with more than 25 MW is classified as SHP, example- Brazil -30 MW, Canada-50 MW, China- 50 MW, Pakistan- 50 MW, Vietnam- 30MW and Eastern Europe / Russian countries - 30 MW. The implementation of Hydro Power up to 25 MW station capacity was brought under the ambit of Ministry of New and Renewable Energy from Ministry of Power during 1999.

Government has set the target to reach 175 GW of Renewable Energy capacity by the year 2022 which includes 5 GW from Small Hydro (up to 25 MW station capacity). So far larger hydro plants are not considered as Renewable Energy. In case of large hydro capacity (above 25MW) being added to the renewable category, Indias Renewable Energy capacity could reach 225MW.

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Zensar Technologies launches The Vinci Intelligent Managed Service Platform
Nov 18,2016

Zensar Technologies announced the launch of The Vinci Intelligent Managed Service Platform. The platform is powered by automation, automatics and orchestration, utilising machine learning, bringing together the management of operational and transformational activities. The Vinci is one of the significant solutions to be unfurled under Zensars Return on Digitaln++ strategy. Enterprises will be able to leverage the solution to impact substantial reduction in the OPEX cost. The solution helps track business and operational benefits in real time, making it agile and future ready for advanced digital technologies.

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IIFL Holdings allots equity shares
Nov 18,2016

IIFL Holdings announced that the Nomination and Remuneration Committee of the Board of Directors of the Company by way of circular resolution(s) allotted 3,55,000 equity shares to the employees of the Company/ Subsidiaries upon exercise of stock options under Employee Stock Option Schemes.

Upon allotment, the equity base of the Company stand increased from equity shares 31,70,95,854 to 31,74,50,854 equity shares of Rs. 2/- each.

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Board of Karuturi Global to consider September quarter results
Nov 18,2016

Karuturi Global announced that the Meeting of the Board of Directors of the Company will be held on 24 November 2016, inter alia, to consider the following transactions:

- To take on record and approve the Un-Audited financial results of the Company for the quarter ended 30 September 2016.

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Reliance Industries in focus after signing global partnership agreement with GE for industrial IOT
Nov 18,2016

Reliance Industries (RIL) announced the signing of a global partnership agreement in the Industrial IOT (IIOT) space whereby RIL and GE will work together to build out joint applications on GEs Predix platform. The partnership marks the coming together of two of the worlds largest industrial conglomerates to provide Industrial IOT solutions to customers in oil & gas, fertilizer, power, healthcare, telecom and other industries. The announcement was made after market hours yesterday, 17 November 2016.

GE will provide its Predix cloud offering, Industrial Internet applications and data science expertise. RIL will develop solutions on Predix as an Independent Software Vendor (ISV), bringing to bear its over 30 years of data, process and operational expertise. RIL will also offer nationwide connectivity infrastructure to customers through a 4G network powered by Jio. GE would offer the security, availability and monitoring aspects of the platform to RIL and its customers. The potential for other revenue streams includes telecom, healthcare and agriculture.

Power Grid Corporation of India (PGCIL) will be in focus. Piyush Goyal, Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines, in a written reply to a question in Lok Sabha yesterday, 17 November 2016 said that PGCIL has sought a loan assistance of $1,000 million from the Asian Development Bank (ADB) comprising of Sovereign guaranteed loan of $500 million and Non-Sovereign loan of $500 million. The Minister further informed that the loan would be utilized for funding of the transmission projects including a project under Green Energy Corridor projects in next 3-4 years.

Vedanta said that it proposes to offer rated secured redeemable non-convertible debentures aggregating to Rs 300 crore. In this regard, the company will hold a meeting of its duly constituted committee of the board on 22 November 2016. The announcement was made after market hours yesterday, 17 November 2016.

Canara Bank said it has revised deposit interest rates in different maturities in retail and bulk deposits in the range of 5 basis points (bps) to 25 bps and these are effective from 21 November 2016. The announcement was made after market hours yesterday, 17 November 2016.

Petronet LNGs net profit surged 81.72% to Rs 459.56 crore on 11.57% fall in total income to Rs 6705.88 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 17 November 2016.

Astral Poly Techniks consolidated net profit rose 43.94% to Rs 30.30 crore on 10.62% rise in total income to Rs 439.52 crore in Q2 September 2016 over Q2 September 2015. The announcement was made after market hours yesterday, 17 November 2016.

Punj Lloyd said that its wholly-owned subsidiary, Punj Lloyd Infrastructure (PLIL), has executed definitive agreements with India Power Green Utility (IPGUPL) to co-develop 30 megawatts (MW) of solar assets in Uttarakhand, in respect of three solar power projects, each of 10 MW capacity won by PLIL under the tariff based competitive bidding process in October 2015 to be executed by its wholly owned subsidiaries (WOS) viz. PL Surya Vidyut, PL Sunrays Power, and PL Solar Renewable. The announcement was made after market hours yesterday, 17 November 2016.

As per the transaction, PLIL will divest 49% of its shareholding in its three subsidiaries viz. PL Surya Vidyut, PL Sunrays Power and PL Solar Renewable. The SPVs have signed 25 years power purchase agreements with Uttarakhand Power Corporation. The company shall be responsible for the entire engineering, procurement and commissioning of the above projects. The transaction is expected to be completed once customary closing conditions and approvals are obtained. Greenstone Energy Advisors is acting as the exclusive financial advisor to PLIL for the transaction.

IIFL Holdings said that its Non-Banking Financial Company (NBFC) subsidiary, India Infoline Finance (IIFL), proposes to acquire the management and control of Bangalore-based Samasta Microfinance (Samasta), an NBFC - Micro Finance Institution (NBFC-MFI) registered with the Reserve Bank of India (RBI), through acquisition of upto 100% equity shares of Samasta subject to completion of necessary due diligence, regulatory and other internal approvals. Pursuant to this, IIFL, Samasta and the promoters of Samasta will enter into necessary agreements and documents to effect sale and purchase shares of Samasta in due course upon completion of due diligence, internal approvals and regulatory process.

Samasta promoted by Narayanswamy Venkatesh and Deviah Shivaprasad, first generation entrepreneurs, began operations as an MFI in March 2008 and operates in Tamil Nadu, Karnataka, Maharashtra and Goa through 64 branches. It currently has an AUM of about Rs 100 crore as on 30 September 2016. The proposed acquisition of Samasta will help IIFL to enter into micro finance segment and extend its wide ranging financial services to their large customer base. The announcement was made after market hours yesterday, 17 November 2016.

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Board of Cadila Healthcare approves scheme of arrangement
Nov 17,2016

Cadila Healthcare announced that the Board of Directors of Cadila Healthcare (Company) at its meeting held on 17 November 2016, has considered and approved the Scheme of Arrangement between Cadila Healthcare and Zydus Healthcare and their respective shareholders and creditors [Scheme] under sections 391 to 394 of the Companies Act, 1956. Zydus Healthcare is a wholly owned subsidiary of the Company. As per the Scheme, India Human Formulations Undertaking of the Company will be transferred to Zydus Healthcare on a Slump Sale [Section 2(42C) of the Income-tax Act, 1961] basis for lump-sum cash consideration.

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Tata Teleservices (Maharashtra) applies for migration of its UAS licenses to Unified Licence
Nov 17,2016

Tata Teleservices (Maharashtra) has two Unified Access Service (UAS) licences for Mumbai and Maharashtra Service Area and these are expiring in September 2017. As per the Guidelines announced by DoT, the UAS licensing regime has been replaced with an umbrella license called Unified Licence (UL).

In view of the above, the Company has applied for migration of its UAS licences in Mumbai and Maharastra and ISP license to UL. The said UL is valid for 20 years effective 02 November 2016. There is no change in the validity of spectrum currently held by the Company as the spectrum has been delinked from UL.

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Sujana Universal Industries shifts registered office
Nov 17,2016

Sujana Universal Industries announced that in terms of Section 12(4) of Companies Act, 2013 Read with rule 27 of the Companies (Incorporation) Rules, 2014 and pursuant to the resolution passed by Management Committee of Board of Directors, the Registered Office of the Company has been shifted from H. No. 8-2-248/1/7/18, Plot No.18, Nagarjuna Hills, Punjagutta, Hyderabad - 500 082, Telangana to H.No: 5/ A, Vengal Rao Nagar, Hyderabad - 500 038, Telangana.

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Pratibha Industries bags contract for water treatment plant
Nov 17,2016

Pratibha Industries has been awarded contract by Melamchi Water Supply Development Board of Government of Nepal for capacity expansion of water treatment plant at Sundarijal for a total contract value of Nepali Rs 155 crore, equivalent to approximately, Rs 97.8 crore. The Company will implement the project through joint venture formed with local construction company within two years as per the contract terms.

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Career Point acquires 40% stake in its subsidiary - Gyan Eduventure
Nov 17,2016

Career Point has acquired 1,68,000 fully paid up equity shares (40%) of Rs. 10 each of Gyan Eduventure, the subsidiary of the Company and consequently, Gyan Eduventure has now become a wholly owned subsidiary of the Company.

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Launch of online portal for facilitating trade between India and Iran
Nov 17,2016

An Online Portal for facilitating trade between India and Iran was launched by Dr. Inder Jit Singh, Additional Secretary, Department of Commerce in the presence of H.E. Mr. Gholamreza Ansari, Ambassador of Islamic Republic of Iran, Mr. Khaleel Rahim, CMD, STC, and other Directors of STC. The Hind-Iran portal (hindirantrade.org) is a joint initiative of STC and Douman Queshm, Iran. The objective of the trade portal is to disseminate information relevant to Indo-Iran Trade, and to provide an e-marketplace for the buyers and sellers of the two countries.

Addressing the gathering at the event, Mr. Khaleel Rahim said that Iran and India have enjoyed deep social, cultural, economic and political connections and relations that have enriched both countries. The two countries have grown closer in the turbulent times at the peak of the economic sanctions against Iran, when it was India which emerged as a valuable trading partner of Iran. The portal is aimed at bridging the communication divide which the business communities face, and which are very interested in trading with each other. Mr. Gholamreza Ansari also acknowledged India as a friend who stood by Iran in tough times, and supported this initiative.

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