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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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L&T Construction secures order worth Rs 2903 crore
Mar 28,2017

The Buildings & Factories Business of L&T Construction has bagged amajor design & build order worth ₹ 2903 crore to re-develop Mumbais century-old BDD Chawls for Maharashtra Housing and Area Development Authority (MHADA). The prestigious contract is the largest residential project awarded to L&T Construction till date.

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Bullions end higher
Mar 28,2017

Gold futures jumped on Monday, 27 March 2017 to finish at their highest level in a month as demand for assets perceived as risky waned, and the dollar dropped in the wake of GOP leaders failure to repeal and replace Obamacare.

Gold for April delivery rose $7.20, or 0.6%, to settle at $1,255.70 an ounce. Futures prices havent settled at a level this high since 27 Feb 2017. May silver also gained 36 cents, or 2%, to $18.108 an ounce.

On Monday, the ICE U.S. Dollar Index fell 0.5% to 99.151 after trading as low as 98.858, its lowest level in four months. Weakness in the dollar can provide a boost to dollar-denominated commodity prices.

U.S. equities, meanwhile, traded mainly lower, though off the sessions worst levels, with the Dow Jones Industrial Average down 0.3% fueling some safe-haven investment demand for the yellow metal.

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Intellect Design gains after securing contract
Mar 28,2017

The announcement was made during market hours today, 28 March 2017.

Meanwhile, the S&P BSE Sensex was up 126.02 points or 0.43% at 29,363.17. The BSE Small-Cap index was up 110.58 points or 0.79% at 14,181.86

On the BSE, 87,000 shares were traded on the counter so far as against the average daily volumes of 1.85 lakh shares in the past one quarter. The stock had hit a high of Rs 119.90 and a low of Rs 116 so far during the day.

The stock had hit a 52-week high of Rs 252.10 on 3 May 2016 and a 52-week low of Rs 107.75 on 15 February 2017. It had outperformed the market over the past one month till 27 March 2017, advancing 2.97% compared with the Sensexs 1.47% rise. The scrip had, however, underperformed the market over the past one quarter, sliding 12.76% as against the Sensexs 11.53% rise.

The small-cap company has equity capital of Rs 50.87 crore. Face value per share is Rs 5.

Intellect Design Arena said that Khan Bank, the largest commercial bank in Mongolia, has selected lntellects debt management platform to centralize operations and digitalize its collections process. lntellects Digital Debt Management system will allow Khan Bank to manage its collections and recoveries more effectively and efficiently.

Intellect Design Arena reported net loss of Rs 21.59 crore in Q3 December 2016, compared with net loss of Rs 13.36 crore in Q2 September 2016. Net sales declined 0.8% to Rs 124.89 crore in Q3 December 2016 over Q2 September 2016.

Intellect Design Arena is a digital technology product solutions provider to the banking and insurance industry.

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Credit growth in exports, shipping, farm mark uptick in sentiment: ASSOCHAM
Mar 28,2017

Export credit grew by a handsome 32 per cent in the current financial year , helped by a smart recovery in the global demand, also leading to an upturn in shipping, an ASSOCHAM Paper has said.

Analysing the RBI data, the paper noted that in the current financial year, up to January 20, some of the selective sectors remained in good shape despite an overall dismal credit growth of just about 3.3 per cent in 2016-17.

Going by the sector-wise deployment of gross bank credit, exports, agriculture and allied activities, shipping, professional services, consumer durables and vehicles were among the top in seeking funds from the lenders.

While the year -on-year export credit grew by 32 percent as on January 20, 2017 (the latest RBI data), shipping saw higher deployment of funds by 15.7 per cent , consumer durables by 17.1 per cent, and vehicles loans by 18. 2 per cent.

n++There are pockets of growth which are keeping the economy on track. This includes agriculture and allied activities (other than food credit) which saw a higher bank credit demand by over eight per cent. The improvement in shipping shows an upward movement in global trade, which is reflected in the smart recovery in the Indian merchandise exports in the current fiscal,n++ said ASSOCHAM Secretary General Mr D S Rawat.

Even as exports grew by a cumulative 2.52 per cent between April-February this fiscal, the expansion has been quite sharp in the later part of the year and in certain specific sector like engineering. For the 11-month period, Indias merchandise exports aggregated USD 245.41 billion against USD 239.37 billion in the same period last fiscal.

The exports fall under the Priority sector lending norms of the banks, adds ASSOCHAM.

n++Surely, things are further improving for the export sector and so is the demand for money,n++ the paper pointed out. Services as a key contributor to the Gross Domestic Product also did well in terms of deployment of credit which saw over eight per cent year on year rise for the period under review.

However, the manufacturing still remains a laggard, witnessing a de-growth of about seven per cent in bank credit deployment. So is the case with other sectors like non-banking finance companies and micro credit. Most of the Non-Performing Assets are locked up in manufacturing in sectors such as steel, besides some infrastructure segments.

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Aurobindo Pharma receives final approval for Meropenem Injection
Mar 28,2017

Aurobindo Pharma has received final approval from the US Food and Drug Administration to manufacture and market Meropenem Injection 500 mg/vial and 1 g/vial. Aurobindos Meropenem injection is a generic equivalent of AstraZeneca Pharmaceuticals Merrem injection. The product will be launched in April 2017.

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Shares of AksharChem (India) get listed on NSE
Mar 28,2017

AksharChem (India) announced that the Equity Shares of the Company are listed at National Stock Exchange of India (NSE) apart from BSE (BSE) and Ahmedabad Stock Exchange (ASE) with effect from 28 March 2017.

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Dilip Buildcon declared L1 bidder for two road projects of Ministry of Road Transport & Highways
Mar 28,2017

Dilip Buildcon has been declared as the Lowest-1 (L-1) bidder for two projects of Ministry of Road Transport & Highways (MORTH) in the state of Maharashtra. The details of projects are as under:- 1. Rehabilitation and Up-gradation of two lane with paved shoulders on EPC Mode from Kalamb to Wadki (Kalamb - Ralegaon - Wadki), total Length of the project is 50.275 Km, worth Rs. 292.50 crores. 2. Rehabilitation and Up- gradation of two lane with paved shoulder on EPC mode, from Mantha Taluka Border to Barshi, total length of the project is 57.518 Km worth Rs. 288.00 crore.

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Axis Bank rises after raising funds
Mar 28,2017

The announcement was made after market hours yesterday, 27 March 2017.

Meanwhile, the S&P BSE Sensex was up 135.83 points or 0.46% at 29,372.98.

On the BSE, 79,468 shares were traded on the counter so far as against the average daily volumes of 6.32 lakh shares in the past one quarter. The stock had hit a high of Rs 497.75 and a low of Rs 490.15 so far during the day.

The stock had hit a 52-week high of Rs 638 on 7 September 2016 and a 52-week low of Rs 417.55 on 11 April 2016. The stock had underperformed the market over the past one month till 27 March 2017, sliding 4.25% compared with the Sensexs 1.47% rise. The scrip had also underperformed the market over the past one quarter, gaining 11.37% as against the Sensexs 11.53% rise.

The large-cap bank has equity capital of Rs 478.84 crore. Face value per share is Rs 2.

Axis Bank said that its board of directors passed a resolution approving the allotment of 3 year senior floating rate notes aggregating to $10 million under the medium term note (MTN) programme through its Dubai International Financial Centre (DIFC) branch.

Axis Banks net profit dropped 73.4% to Rs 579.57 crore on 15.7% growth in total income to Rs 14501.21 crore in Q3 December 2016 over Q3 December 2015.

Axis Bank is one of the biggest private sector banks in India.

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Jindal Steel moves higher on preferential allotment plan
Mar 28,2017

The announcement was made after market hours yesterday, 27 March 2017.

Meanwhile, the S&P BSE Sensex was up 132.01 points or 0.45% at 29,369.16.

On the BSE, 4.42 lakh shares were traded on the counter so far as against the average daily volumes of 22.94 lakh shares in the past one quarter. The stock had hit a high of Rs 121.05 and a low of Rs 117.75 so far during the day.

The stock had hit a 52-week high of Rs 131.80 on 17 March 2017 and a 52-week low of Rs 55.65 on 30 March 2016. It had underperformed the market over the past one month till 27 March 2017, sliding 6.5% compared with the Sensexs 1.47% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 75.24% as against the Sensexs 11.53% rise.

The large-cap company has equity capital of Rs 91.50 crore. Face value per share is Rs 1.

Jindal Steel & Power (JSPL) said that a meeting of the board of directors of the company is scheduled to be held on 30 March 2017, to consider various modes of fund raising by way of preferential allotment of securities to different entities including the promoters/promoter group entities.

On a consolidated basis, JSPL reported net loss of Rs 407.44 crore in Q3 December 2016 as against net loss of Rs 573.48 crore in Q3 December 2015. Net sales rose 28.1% to Rs 5296.80 crore in Q3 December 2016 over Q3 December 2015.

Jindal Steel and Power (JSPL) is one of Indias leading integrated steel manufacturers, significantly present in steel, power generation and Infrastructure segments and catering to a large part of Indias domestic energy and infrastructure requirement.

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Shares of Chemcrux Enterprises get listed
Mar 28,2017

The equity shares of Chemcrux Enterprises (Scrip Code: 540395) are listed effective 28 March 2017 and admitted to dealings on the Exchange in the list of M Group Securities.

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Shares of Manomay Tex India get listed
Mar 28,2017

The equity shares of Manomay Tex India (Scrip Code: 540396) are listed effective 28 March 2017 and admitted to dealings on the Exchange in the list of M Group Securities.

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Kotak Mahindra advances on equity capital raising plans
Mar 28,2017

The announcement was made after market hours yesterday, 27 March 2017.

Meanwhile, the S&P BSE Sensex was up 118.83 points or 0.41% at 29,355.98.

On the BSE, 5,172 shares were traded on the counter so far as against the average daily volumes of 6.98 lakh shares in the past one quarter. The stock had hit a high of Rs 880 and a low of Rs 873.50 so far during the day.

Kotak Mahindra Bank said that the banks board of directors scheduled a meeting on 30 March 2017 to consider raising of equity capital by the bank through rights issue, private placement, follow-on public offering (FPO), qualified institutions placement (QIP), global depository receipts (GDR), American depository receipts (ADR) or through any other permissible mode or a combination thereof, as may be considered appropriate.

Kotak Mahindra Banks net profit rose 38.6% to Rs 879.76 crore on 11.02% growth in total income to Rs 5377.83 crore in Q3 December 2016 over Q3 December 2015.

Kotak Mahindra Bank is one of the leading private sector banks in India.

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India and Vietnam to strengthen bilateral relations through medium of Cinema
Mar 28,2017

Shri M Venkaiah Naidu, Minister for Information & Broadcasting has said that collaboration in the field of Films, Broadcasting and Information Dissemination would strengthen the ties between India and Vietnam. Cooperation in the field of institutional capacity building in social media, student exchange programs between premier institutes of both the countries in the field of journalism and films would bring the two countries close. He mentioned this while meeting the Vietnamese delegation led by Minister of Information and Communications, Government of Vietnam Mr. Truong Minh Tuan.

During the discussions, Shri Naidu said that Ministry of Information & Broadcasting would extend all possible support to promote exchange programs between public broadcasters of the two countries, content creation, screening and distribution of films.

Shri Naidu apprised the Vietnam delegation about the Film Facilitation Office (FFO) setup in the Ministry of I&B to facilitate single window clearance for film makers. The FFO setup shall act as a facilitation point for film producers and assist them in obtaining requisite permissions, disseminate information on shooting locales as well as the details about the various facilities available within the Indian film industry for production/post production thereof.

Vietnam Minister in his remarks gave a brief overview about the Media scenario in their country and expressed hope that there would be cooperation between the National Broadcasters of both the countries to work closely in the field of real time information gathering and dissemination.

The Cultural Exchange Programme (CEP) signed in 2014 between the Ministry of Culture, Government of India and Ministry of Culture, Sports and Tourism, Government of Vietnam for the year 2015-17, provided the institutional framework for collaboration in the Films sector. Indian Prime Minister Shri Narendra Modis visit to Vietnam in 2016 was a significant event for both the countries reinforcing the Government of Indias n++Act East Policy.n++ The year 2017, marks 45th anniversary of the diplomatic relation and 10 years of strategic partnerships between the two countries.

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82 coal mines have been allocated by way of auction / allotment under the provisions of the Coal Mines (Special Provisions) Act, 2015 so far
Mar 28,2017

So far, 82 coal mines have been allocated by way of auction / allotment under the provisions of the Coal Mines (Special Provisions) Act, 2015 and the Rules made thereunder. Of these 82 coal mines, 31 have been allocated through e-auction and 51 by way of allotment.

No coal mine / block has been auctioned in the last one year under the provisions of the Coal Mines (Special Provisions) Act, 2015.. However, 6 coal mines have been allotted to State Government Undertakings for sale of coal in the last one year under the provisions of the said Act.

The Government has not fixed any revenue generation target from the auction/allotment of coal mines. A monitoring mechanism for the development of the coal mines in accordance with the efficiency parameters specified in the agreement is in place. The Nominated Authority reviews the progress of coal mines allocated under Coal Mines (Special Provisions) Act, 2015 on a regular basis. Failure by the allocattee companies in adhering to the terms and conditions / efficiency parameters for the development of the coal mines results in measures as stipulated in the agreement which includes appropriation of the performance bank guarantee and cancellation of the Allotment / Vesting Order, the Minister added.

An Online Coal Project Monitoring Portal has been established in the Ministry of Coal for resolving issues pending at the State level. Clarifications have been issued on various issues hampering mine development for expeditious operationalization of coal mines.

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Kotak Mahindra Bank may gain on capital raising plans
Mar 28,2017

Kotak Mahindra Bank said that the banks board of directors has scheduled a meeting on 30 March 2017 to consider raising of equity capital by the bank through rights issue, private placement, follow-on public offering (FPO), Qualified Institutions Placement (QIP), Global Depository Receipts (GDR), American Depository Receipts (ADR) or through any other permissible mode or a combination thereof, as may be considered appropriate. The announcement was made after market hours yesterday, 27 March 2017.

Axis Bank said that the board of directors of the bank has passed a resolution approving the allotment of 3 year senior floating rate notes aggregating to $10 million under the MTN programme through its Dubai International Financial Centre (DIFC) branch. The announcement was made after market hours yesterday, 27 March 2017.

Technofab Engineering won new orders including three orders from Power Grid Corporation of India for about Rs 255 crore in Tripura. All three orders are in the Industrial and Rural Electrification Sector and works related to 33/11 KV Sub Stations & associated lines. The orders have a timeline of thirty three months for completion. One order from the Ministry of Agriculture and Animal Resources, Kigali , Rwanda for construction contract for establishment of centre of excellence in farm mechanization for $12.29 million exclusive of taxes and duties in Rwanda. The order has a timeline of twelve months for completion. The announcement was made after market hours yesterday, 27 March 2017.

Berger Paints India has commenced commercial production of its automotive and general industrial paints production plant having a capacity of 4,800 KL/MT per annum at Jejuri near Pune in Maharashtra on 27 March 2017. This facility will strengthen the companys supply capabilities in respect of automotive and general industrial paints and the capacity will be enhanced to 24,000 KL/MT per annum in phases. The announcement was made after market hours yesterday, 27 March 2017.

UCO Bank said that the board of directors of the bank approved proposal for issue of equity shares to Government of India against the proposed capital infusion of Rs 1150 crore by way of preferential allotment of equity shares. The announcement was made after market hours yesterday, 27 March 2017.

Dilip Buildcon said that it has been declared as the lowest-1 (L-1) bidder for two projects of Ministry of Road Transport & Highways (MORTH) in the state of Maharashtra. The projects include rehabilitation and up-gradation of two lane with paved shoulders on engineering, procurement and construction (EPC) mode from Kalamb to Wadki of total length of the project is 50.275 kilometers worth Rs 292.50 crore. The second project is rehabilitation and up-gradation of two lane with paved shoulder on EPC mode, from Mantha Taluka Border to Barshi, having total length of the project of 57.518 kilometers and worth Rs 288 crore. The announcement was made before market hours today, 28 March 2017.

India Home Loan announced that the company has entered into MOU with National Housing Bank (NHB) for implementation of Credit Linked Subsidy Scheme for MIG (Middle Income Group) for providing interest subsidy to cater to the housing needs of middle income group segments. The announcement was made after market hours yesterday, 27 March 2017.

Bank of India said that it has raised Rs 1000 crore by issue of Basel-III compliant tier-II bonds (Series XIV) on 27 March 2017. The bonds bear coupon rate of 8% per annum. . The announcement was made after market hours yesterday, 27 March 2017.

Aurobindo Pharma clarified with reference to article published with heading n++Aurobindo Pharma may face the brunt of suspension calln++ that it has five products with different strengths in select EU countries which are affected due to decision by European Medicines Agency (EMA) on the CRO. Some of these products are not currently on market and, in fact, are awaiting for approval in some countries. The combined sales of these products is less than $5 million per annum for the company. The clarification was issued after market hours yesterday, 27 March 2017.

Jindal Steel & Power said that a meeting of the board of directors of the company is scheduled to be held on 30 March 2017, to consider various modes of fund raising by way of preferential allotment of securities to different entities including the promoter(s)/promoter group entity(ies). The announcement was made after market hours yesterday, 27 March 2017.

Andhra Bank said that the board of directors of the bank, in the meeting held on yesterday, 27 March 2017 has approved. raising of equity capital of the bank by way of preferential allotment to Government of India (GOI) to the tune of Rs 1100 crore. The board also approved raising of equity capital of the bank through qualified institutional placement, follow-on public offer, etc. at an appropriate time. The announcement was made after market hours yesterday, 27 March 2017.

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