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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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NTPC commissions 2nd Unit of 250 MW of Bongaigaon Thermal Power Project
Mar 23,2017

NTPC has commissioned 2nd Unit of 250 MW of Bongaigaon Thermal Power Project (3 X 250 MW). With this, the commissioned capacity of Bongaigaon Thermal Power Project, NTPC and NTPC group has become 500 MW, 42177 MW and 49143 MW respectively.

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Som Distilleries jumps on commencing supply of beer to Karnataka
Mar 23,2017

The announcement was made after market hours yesterday, 22 March 2017.

Meanwhile, the S&P BSE Sensex was up 126.23 points or 0.43% at 29,293.91. The BSE Small-Cap index was up 130.46 points or 0.94% at 14,032.38.

On the BSE, 22,000 shares were traded on the counter so far as against the average daily volumes of 29,000 shares in the past two weeks. The stock had hit a high of Rs 143.80 and a low of Rs 124.40 so far during the day.

Som Distilleries announced that it has started the supply of Black Fort beer to Karnataka. The response from consumers and the trade is very encouraging, it said. The company expects to get a considerable market share in the short term. Further, the company will be launching out its mainline brands next month in Karnataka.

Som Distilleries net profit declined 32.94% to Rs 1.71 crore on 6.22% growth in total income from operations to Rs 44.20 crore in Q3 December 2016 over Q3 December 2015.

Som Distilleries & Breweries is a brewing company. It is engaged in making beer from malt plus whiskies.

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Som Distilleries jumps on starting supply of beer
Mar 23,2017

The announcement was made after market hours yesterday, 22 March 2017.

Meanwhile, the S&P BSE Sensex was up 126.23 points or 0.43% at 29,293.91. The BSE Small-Cap index was up 130.46 points or 0.94% at 14,032.38.

On the BSE, 22,000 shares were traded on the counter so far as against the average daily volumes of 29,000 shares in the past two weeks. The stock had hit a high of Rs 143.80 and a low of Rs 124.40 so far during the day.

Som Distilleries announced that it has started the supply of Black Fort beer to Karnataka. The response from consumers and the trade is very encouraging, it said. The company expects to get a considerable market share in the short term. Further, the company will be launching out its mainline brands next month in Karnataka.

Som Distilleries net profit declined 32.94% to Rs 1.71 crore on 6.22% growth in total income from operations to Rs 44.20 crore in Q3 December 2016 over Q3 December 2015.

Som Distilleries & Breweries is a brewing company. It is engaged in making beer from malt plus whiskies.

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Sadbhav Infra spurts on being lowest bidder for road project
Mar 23,2017

The announcement was made after market hours yesterday, 22 March 2017.

Meanwhile, the S&P BSE Sensex was up 124 points, or 0.43% to 29,291.68.

On the BSE, 41,000 shares were traded in the counter so far, compared with average daily volumes of 5,516 shares in the past one quarter. The stock had hit a high of Rs 108.35 and a low of Rs 102.30 so far during the day. The stock hit a record high of Rs 120.40 yesterday, 22 September 2016. The stock hit a 52-week low of Rs 81.05 on 9 November 2016.

The stock had outperformed the market over the past one month till 22 March 2017, 2.60% compared with 1.41% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, 3.65% as against Sensexs 12.27% rise.

The mid-cap company has equity capital of Rs 352.23 crore. Face value per share is Rs 10.

Sadbhav Infrastructure Projects said it has been declared lowest bidder for a hybrid annuity model (HAM) project of 4-Laning of Waranga to Mahagaon (Pkg-I) section of National Highway (NH)-361 in the State of Maharashtra under NHDP Phase-IV. The project cost is Rs 1071 crore and construction period is 910 days from appointment date. As per the RFP documents, Letter of Award (LoA) shall be provided by NHAI within 60 days from the bid due date (February 15, 2017).

On a consolidated basis, Sadbhav Infrastructure Projects reported net loss of Rs 66.35 crore in Q3 December 2016 as against net loss of Rs 139.51 crore in Q3 December 2015. Net sales declined 35.96% to Rs 322.14 crore in in Q3 December 2016 over Q3 December 2015.

Sadbhav Infrastructure Project is into development, operation and maintenance of road infrastructure assets. It undertakes turnkey contractual works and other than civil construction of the projects.

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Hindustan Composites sizzles on plans of bonus issue
Mar 23,2017

The announcement was made after market hours yesterday 22 March 2017.

Meanwhile, the S&P Sensex was up 84.20 points, or 0.29% at 29,251.88. The S&P Small-cap index was up 100.75 points, or 0.8% at 14,012.67.

High volumes were witnessed on the counter. On the BSE, 11,000 shares were traded on the counter so far as against the average daily volumes of 336 shares in the past one quarter. The stock had hit a high of Rs 1,908 and a low of Rs 1,795.70, so far during the day.

The stock had hit a record high of Rs 2,119 on 20 September 2016 and a 52-week low of Rs 750 on 8 April 2016. The stock had outperformed the market over the past one month till 22 March 2017, rising 4.22% compared with 1.05% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 4.76% as against Sensexs 12.27% rise.

The small-cap company has equity capital of Rs 4.92 crore. Face value per share is Rs 10.

Hindustan Composites said that a meeting of the board of directors of the company is scheduled to be held on 10 April 2017, to consider bonus issue of shares and a stock spilt. The board will also consider seeking approval of the shareholders of the company through postal ballot process for the same.

Hindustan Composites net profit rose 37.7% to Rs 12.08 crore on 26% increase in net sales to Rs 51.25 crore in Q3 December 2016 over Q3 December 2015.

Hindustan Composites is engaged in the manufacturing and marketing of fiber-based friction materials.

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Cabinet approves amendment to The Right of Children to Free and Compulsory Education Act, 2009
Mar 23,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the amendment to Right of Children to Free and Compulsory Education (RTE) Act, 2009. This will ensure that all teachers, in position as on 31st March, 2015, acquire the minimum qualifications prescribed by the academic authority to extend the period for such training for four years up to 31st March, 2019.

This will enable the in-service untrained elementary teachers to complete their training and ensure that all teachers at the elementary level in the country have a certain minimum standard of qualifications. This would also ensure that all Teachers would attain minimum qualifications as considered necessary to maintain the standard of teaching quality. This would ultimately result in improvement in overall quality of teachers, teaching processes and consequently learning outcomes of children. This will reinforce the Governments emphasis on improvement of quality of elementary education.

Background:

The Right of Children to Free and Compulsory Education (RTE) Act, 2009, is effective from 1st April, 2010. It envisages free and compulsory elementary education to every child in the age group of 6-14 years. The Proviso to Section 23(2) of the Act specifies that all teachers at elementary level who, at the commencement of this Act, did not possess the minimum qualifications as laid down under the RTE Act, need to acquire these within a period of five years i.e., 31st March, 2015. However, several State governments have reported that out of a total number of 66.41 lakh teachers at the elementary level, 11.00 lakh are still untrained (of this, 5.12 lakh are in Government and Aided Schools and 5.98 lakh are in private schools). In order to ensure that all teachers, in position as on 31st March, 2015, acquire the minimum qualifications prescribed by the academic authority, it is necessary to carry out appropriate amendment in the RTE Act, 2009 to extend the period for such training for four years up to 31st March, 2019.

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Beardsell extends recent sharp rally
Mar 23,2017

Meanwhile, the S&P BSE Sensex was up 98.38 points or 0.34% at 29,266.06. The BSE Small-cap index was up 117.60 points or 0.85% at 14,019.52.

On the BSE, 1,989 shares were traded on the counter so far as against the average daily volumes of 2,997 shares in the past two weeks. The stock hit a high of Rs 561.75 and a low of Rs 545.10 so far during the day.

The stock had hit a record high of Rs 622 on 4 November 2016 and a 52-week low of Rs 102.90 on 9 June 2016.

Shares of Beardsell have rallied 47.23% in ten trading sessions from its closing of Rs 381.55 on 8 March 2017.

Beardsell had recently announced that its board at its meeting held on 15 March 2017, approved 5-for-1 stock split.

Beardsells net profit spurted 256.5% to Rs 1.64 crore on 7.6% fall in net sales to Rs 38.24 crore in Q3 December 2016 over Q3 December 2015.

Beardsell is engaged in the manufacturing, selling and contracting activities in expanded polystyrene, insulation and packaging material, prefabricated panels and solar shield, quikbuild construction panels, marketing of textiles, electric motors, exports and technical consultancy services.

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Delta Corp gains after board OKs raising Rs 750 cr
Mar 23,2017

The announcement was made after market hours yesterday, 22 March 2017.

Meanwhile, the S&P BSE Sensex was up 83.46 points, or 0.29% to 29,251.14.

On the BSE, 4.07 lakh shares were traded in the counter so far, compared with average daily volumes of 8.76 lakh shares in the past one quarter. The stock had hit a high of Rs 181.20 and a low of Rs 178.05 so far during the day. The stock hit a record high of Rs 195.20 on 26 October 2016. The stock hit a 52-week low of Rs 62.50 on 23 March 2016.

The stock had outperformed the market over the past one month till 22 March 2017, rising 34.45% compared with 1.41% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 72.77% as against Sensexs 12.27% rise.

The mid-cap company has equity capital of Rs 23.16 crore. Face value per share is Re 1.

Delta Corp said its board of directors approved raising funds by issuing equity shares or other permissible securities through qualified institutional placements (QIPs) for an aggregate amount not exceeding Rs 750 crore. The company will seek approval from its shareholders for the fund raising plans and has called for an extraordinary general meeting on 18 April 2017.

The stock has risen 11.53% in three sessions from its close of Rs 160.85 on Monday, 20 March 2017. Shares of Delta Corp spurted 4.64% to settle at Rs 177 yesterday, 22 March 2017, on reports a domestic brokerage initiated coverage on the stock with a buy rating and a target price at Rs 229. The brokerage reportedly cites the approval of a casino in Daman as a key upside trigger and sees gaming capacity to double.

Delta Corps consolidated net profit rose 37.2% to Rs 10.06 crore on 4.5% increase in net sales to Rs 103.57 crore in Q3 December 2016 over Q3 December 2012.

Delta Corp holds three offshore gaming licences in Goa and has an integrated casino resort in Daman. The company also has three luxury hotel properties in Goa n++ Deltin Suites, Deltin Palms and Villa Marina by Deltin.

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Delta Corp rises after board OKs raising Rs 750 cr
Mar 23,2017

The announcement was made after market hours yesterday, 22 March 2017.

Meanwhile, the S&P BSE Sensex was up 83.46 points, or 0.29% to 29,251.14.

On the BSE, 4.07 lakh shares were traded in the counter so far, compared with average daily volumes of 8.76 lakh shares in the past one quarter. The stock had hit a high of Rs 181.20 and a low of Rs 178.05 so far during the day. The stock hit a record high of Rs 195.20 on 26 October 2016. The stock hit a 52-week low of Rs 62.50 on 23 March 2016.

The stock had outperformed the market over the past one month till 22 March 2017, rising 34.45% compared with 1.41% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 72.77% as against Sensexs 12.27% rise.

The mid-cap company has equity capital of Rs 23.16 crore. Face value per share is Re 1.

Delta Corp said its board of directors approved raising funds by issuing equity shares or other permissible securities through qualified institutional placements (QIPs) for an aggregate amount not exceeding Rs 750 crore. The company will seek approval from its shareholders for the fund raising plans and has called for an extraordinary general meeting on 18 April 2017.

The stock has risen 11.53% in three sessions from its close of Rs 160.85 on Monday, 20 March 2017. Shares of Delta Corp spurted 4.64% to settle at Rs 177 yesterday, 22 March 2017, on reports a domestic brokerage initiated coverage on the stock with a buy rating and a target price at Rs 229. The brokerage reportedly cites the approval of a casino in Daman as a key upside trigger and sees gaming capacity to double.

Delta Corps consolidated net profit rose 37.2% to Rs 10.06 crore on 4.5% increase in net sales to Rs 103.57 crore in Q3 December 2016 over Q3 December 2012.

Delta Corp holds three offshore gaming licences in Goa and has an integrated casino resort in Daman. The company also has three luxury hotel properties in Goa n++ Deltin Suites, Deltin Palms and Villa Marina by Deltin.

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Dilip Buildcon gains after winning road project
Mar 23,2017

The announcement was made after market hours yesterday, 22 March 2017.

Meanwhile, the S&P BSE Sensex was up 97.98 points, or 0.34% to 29,265.66.

On the BSE, 18.45 lakh shares were traded in the counter so far, compared with average daily volumes of 36,155 shares in the past one quarter. The stock had hit a high of Rs 363 and a low of Rs 354 so far during the day.

The stock hit a record high of Rs 365.15 on 21 March 2017. The stock hit a 52-week low of Rs 178.60 on 9 November 2016.

The stock had outperformed the market over the past one month till 22 March 2017, rising 21.52% compared with 1.41% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 58.52% as against Sensexs 12.27% rise.

The mid-cap company has equity capital of Rs 136.77 crore. Face value per share is Rs 10

Dilip Buildcon received a letter of award by National Highways Authority of lndia (NHAI) for four-laning Tuljapur - Ausa (including Tuliapur Bypass) road project under NHDP Phase IV on Hybrid Annuity Mode in Maharashtra.

Dilip Buildcon has signed an Memorandum of Understanding (MoU) with Shrem Infraventure to set up a special purpose vehicle (SPV) for execution of the road project. Shrem Infraventure to hold 49% stake in the SPV and Dilip Buildcon to hold the remaining 51% stake. Shrem will acquire the remaining 51% on completion of two years of commercial operation from the date of commencement.

Dilip Buildcons net profit jumped 151.7% to Rs 108.64 crore on 41.9% rise in net sales to Rs 1388.43 crore in Q3 December 2016 over Q3 December 2015.

Dilip Buildcon is a road-focused engineering procurement construction (EPC) contractor. The company develops infrastructure across the country in diverse areas such as roads & bridges, water sanitation & sewage, irrigation, industrial, commercial & residential buildings.

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Cabinet approves North East Road Network Connectivity Project Phase I
Mar 23,2017

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval for development of 403 kms of National Highways in Meghalaya and Mizoram. Out of 403 km, approximately 52 kms will be in Meghalaya and 351 km in Mizoram. The project will be executed in EPC Mode.

The estimated cost is Rs 6,721 crore including cost of land acquisition, resettlement and other pre-construction activities.

The projects will be taken up for implementation during the financial year 2017-18. The civil works are expected to be completed by 2021 and maintenance works are expected to be completed by 2025.

The projects will encourage sub-regional socio-economic development by improvement of infrastructure in Meghalaya and Mizoram. It will also enhance the connectivity with inter-state roads and International Borders.

The work for development to two lane standards are under scheme North East Road Network Connectivity Project Phase I with loan assistance of Japan International Cooperation Agency (JICA).

Background:

The existing carriageway of all the stretches is varying between Single lane to Intermediate lane. The condition of the pavement is very poor and at some locations not in traffic worthy condition. In addition, the stretches are also in poor condition in the landslides areas / sinking zone. Updation and development of these stretches to the two lane with paved shoulders standard will be done.

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Hindustan Zinc gains after boards nod for special interim dividend
Mar 23,2017

The announcement was made after market hours yesterday, 22 March 2017.

Meanwhile, the S&P BSE Sensex was up 94.24 points or 0.32% at 29,261.92.

On the BSE, 6.51 lakh shares were traded on the counter so far as against the average daily volumes of 3.84 lakh shares in the past two weeks. The stock had hit a high of Rs 322.10 and a low of Rs 316.70 so far during the day.

The record date for the payment of interim dividend is 30 March 2017.

Hindustan Zinc stock offers a dividend yield of 8.82% based on the closing price of Rs 311.75 yesterday, 22 March 2017.

Hindustan Zincs net profit rose 26.11% to Rs 2319.90 crore on 38.45% growth in total income to Rs 5972.16 crore in Q3 December 2016 over Q3 December 2015.

Hindustan Zinc is a subsidiary of Vedanta (formerly known as Sesa Sterlite), a part of London listed Vedanta Resources plc, a global diversified natural resources company.

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IndusInd Bank allots AT1 Bonds aggregating Rs 1000 cr
Mar 23,2017

IndusInd Bank announced that the Finance Committee of the Board has allotted 10,000 Rated, Listed, Non-Convertible, Perpetual Subordinated Unsecured Basel III-compliant Bonds in the nature of Debentures towards non-equity regulatory Additional Tier 1 Capital (AT1 Bonds), for Face Value of Rs.10 lakh each for cash aggregating to Rs.1,000 crore (Rupees One Thousand crore only) on Private Placement basis. The aforesaid Bonds will be issued in dematerialised form and will be listed on the Wholesale Debt Market (WDM) segment of National Stock Exchange of India.

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Mahindra & Mahindra provides update on indirect subsidiary - Mahindra Retail
Mar 23,2017

Mahindra & Mahindra announced that Mahindra Retail (MRPL), an indirect subsidiary of the Company, has sold its entire shareholding (100%) in Mahindra Internet Commerce (MICPL). Hence, MICPL has ceased to be a subsidiary of MRPL and as such of the Company.

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L&T Technology Services inaugurates delivery center in Munich
Mar 23,2017

L&T Technology Services inaugurated its new center of excellence dedicated for a leading German Original Equipment Manufacturer(OEM) in Munich Germany, its fourth delivery center for the customer following R&D hubs in Mumbai, Bangalore and Mysore in India.

The delivery center will also be instrumental in hiring local talent and foster skill development for the youth in Munich region and Germany. Through LTTS focus on automotive technologies, the center will propel the regional economy into the next phase of growth, delivering quality services, expanding workforce, and supporting major projects in the region through innovative engineering processes.

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