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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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Integrated Capital Services BTG Global Advisory announces further expansion
Feb 20,2017

Integrated Capital Services BTG Global Advisory (, a UK based Company limited by guarantee, of which Integrated Capital Services (ICSL) is a founder member, announced further expansion of its global reach with the appointment of TCP LATAM, a management and investment boutique focused on middle market companies in special situations in Brazil and South America.

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Fitch: House Price Growth to Slow Sharply in Hottest APAC Markets
Feb 20,2017

House price growth is likely to decelerate sharply in several Asia-Pacific (APAC) markets in 2017, as affordability constraints, increasing supply and tighter lending and regulatory standards dampen price dynamics, Fitch Ratings says in its latest Global Housing and Mortgage Outlook.

Australia, New Zealand and China, the markets with the regions biggest recent price rises, will experience a pronounced and overdue slowdown. We expect them to record single-digit house price growth, rather than the double-digit growth experienced last year. However, stable or improving economic growth and employment, coupled with low interest rates, limited supply and continued population growth, will support price increases in all but one of the six APAC economies covered in Fitchs report, even though prices are now out of line with incomes in several markets. Only Singapore is expected to see house prices fall, with Fitch forecasting prices to drop by a further 4% after three consecutive years of decline.

Fitch forecasts Australian nominal house-price gains to slow across the countrys eight capital cities to 3% in 2017, from 10.9% in 2016, although population growth will support prices in Sydney and Melbourne despite stretched affordability. Falling rental yields, increasing supply and fewer prospects for capital growth will weigh on the market, particularly in regional areas. Tighter lending standards, including growth limits on banks investment loan portfolios, should dampen demand.

Demand for housing in New Zealand remains strong, particularly in Auckland and surrounding areas, but we expect nominal house-price growth to slow to 5% nationally on affordability pressure and tighter regulation. Measures of relative home price expensiveness have deteriorated more in New Zealand since 2010 than in any other country covered by our report. New Zealand also had the largest regional price-growth disparity over the last four years, with a difference of over 80 percentage points between Auckland, where prices increased by some 76.3%, and those on the West Coast, which saw prices fall by 5.1% over the same period.

We expect a sharp drop in Chinas tier 1 city house-price growth to 2.5%, from a 25% rise in 2016 and several years of rapid price increases, partly in response to tougher rules on home purchases and minimum loan deposits. The market should also cool in other tiers, although at varying rates. However, we do not anticipate a major correction, as the Chinese authorities directly control many aspects of the housing and mortgage markets. Ongoing urbanisation, low interest rates and strong income growth will also support prices.

House price gains in Japan and South Korea are forecast to slow marginally. Ageing demographics are a long-term constraint in both markets, although the 2020 Olympic games will drive Tokyo prices higher in the near-term. Oversupply and high household indebtedness in South Korea will gradually soften the market.

Singapore is the only APAC market for which we have a stable/negative outlook. An influx of new supply, slowing immigration, a soft economy and ongoing measures to cool the property market are likely to continue to dampen sentiment. However, mortgage delinquencies for the major banks should remain low - in line with the healthy labour market and strong household balance sheets, even as short-term rates rise over the next two years.

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TCS gains ahead of board meeting to consider share buyback
Feb 20,2017

Meanwhile, the S&P BSE Sensex was up 4.10 points or 0.01% at 28,472.85.

On the BSE, 17,000 shares were traded on the counter so far as against the average daily volumes of 96,194 shares in the past one quarter. The stock had hit a high of Rs 2,448 and a low of Rs 2,412 so far during the day.

The stock had hit a 52-week high of Rs 2,740 on 16 August 2016 and a 52-week low of Rs 2,054.70 on 15 November 2016. The stock had outperformed the market over the past one month till 17 February 2017, advancing 5.73% compared with the Sensexs 4.53% rise. The scrip had also outperformed the market over the past one quarter, gaining 12.42% as against the Sensexs 8.54% rise.

The large-cap company has equity capital of Rs 197.04 crore. Face value per share is Re 1.

On a consolidated basis, TCS net profit rose 3.20% to Rs 6814 crore on 1.54% increase in net sales to Rs 29735 crore in Q3 December 2016 over Q2 September 2016.

TCS is an IT services, consulting and business solutions organization.

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Board of MIC Electronics approves increase in authorised capital and conversion of debt
Feb 20,2017

MIC Electronics announced the Board of Directors of the Company at its meeting held on 18 February 2017, approved the following:

1. Increasing the Authorised Share Capital of the company by Rs. 4 crore.

2. Conversion of Debt into Equity by way of issue of 4,32,93,974 (Four Crores Thirty Two Lakhs Ninety Three Thousand Nine Hundred and Seventy Four) equity shares at issue price of Rs. 20/- per share (Face Value of Rs. 2/- each at premium of Rs. 18/- each).

3. Calling for Extra-ordinary General Meeting of the Company scheduled to be held on 20 March 2017 at 11.00 AM at Registered office of the Company situated at A-4/II Electronic Complex, Kushaiguda, Hyderabad - 500062, to consider and approve the Item No. 1 and 2 by the members.

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Moodys: World Banks financial position remains robust due to strong capital base
Feb 20,2017

The financial position of the International Bank for Reconstruction and Development (IBRD or World Bank, Aaa stable) remains robust reflecting a strong capital base and liquidity position and substantial protection from large callable capital, says Moodys Investors Service in a report.

The IBRDs strict lending limitations, combined with its diversified portfolio composition and stable asset quality, ensure that it has sufficient capital to cope with its business risk. The bank uses various safeguards, including statutory lending limits, to protect its capital adequacy.

Under the lenders preferred creditor status, members of the World Bank Group, who are also the borrowers, pledge to prioritize debt service to the IBRD over other obligations, such as payments to market or bilateral creditors.

The IBRDs strong capital base should allow it to withstand crises in developing countries without impairing its ability to service its obligations, said William Foster, a Vice President and Senior Credit Officer at Moodys.

The IBRDs assets continue to perform very well, with only one country, Zimbabwe (unrated), in so-called nonaccrual status as of the end of the fiscal year (FY) 2016. Unlike some other multilaterals, the IBRD does not reschedule or write off its problem loans. Instead, it continues to seek full recovery of all arrears.

Problem loans at the bank have steadily decreased since FY 2005 when the ratio of non-performing loans to total loans outstanding reached 3.4%.

As a result of its development mandate and global scope, the bank lends to riskier sovereigns, some of which have no, or very limited access, to capital markets. The potential challenges arising from its lending activity partially offset its strengths.

There is a low probability that the IBRD could experience a material rise in non-performing loans should there be simultaneous financial crises that impact several large borrowers at once, or a regional crisis in one of its largest borrowing regions.

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Jaiprakash Power Ventures reduces outstanding loans by Rs 3058 crore
Feb 20,2017

Jaiprakash Power Ventures announced that the Stakeholders Relationship Committee at a Meeting held on 18 February 2017, has allotted 305.80 crore equity shares of Rs 10 each at a price of Rs 10 per share to the lenders pursuant to implementation of SDR.

Subsequent to the allotment of the aforesaid shares, the lenders would collectively hold 51% of the post issue equity share capital and the outstanding loan amount of the Company would stand reduced by Rs 3058 crore.

With the aforesaid, the Company as well as its subsidiaries shall cease to be subsidiaries of Jaiprakash Associates.

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Board of Millitoons Entertainment approves bonus issue of 1:1
Feb 20,2017

Millitoons Entertainment announced that the Board of Directors of the Company, at their meeting held on 18 February 2017, have transacted the following businesses:

1.Deliberated and approved the issue of bonus shares by capitalization of reserves in the ratio of 1 share for every 1 share held by the shareholders of the Company i.e. in the ratio of 1:1 to the shareholders as appearing in the register of members as on the record date.

2. To make an application with NSE for listing of shares of the Company on their platform.

3. Allotted 15,00,000 equity shares of Re. 1/- each to Viniato Advisors (Non Promoter Category) pursuant to conversion of equity share warrants.

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Amtek Auto jumps on plan to issue equity shares
Feb 20,2017

The announcement was made after market hours on Friday, 17 February 2017.

Meanwhile, the BSE Sensex was down 36.31 points, or 0.13%, to 28,432.44.

On the BSE, so far 1.11 lakh shares were traded in the counter, compared with average daily volumes of 4.19 lakh shares in the past one quarter. The stock had hit a high of Rs 35.70 and a low of Rs 34.85 so far during the day.

The stock hit a 52-week high of Rs 56.20 on 26 July 2016. The stock hit a 52-week low of Rs 28 on 29 February 2016. The stock had underperformed the market over the past 30 days till 17 February 2017, falling 2.29% compared with the 4.25% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 0.44% as against Sensexs 8.87% rise.

The small-cap company has equity capital of Rs 44.95 crore. Face value per share is Rs 2.

Amtek Auto said that the proposal to issue equity shares is subject to the approval of the shareholders of the company in its general meeting.

Amtek Auto reported a net loss of Rs 241.56 crore in Q3 December 2016 compared with net loss of Rs 175.36 crore in Q3 December 2015. Net sales fell 46.8% to Rs 438.40 crore in Q3 December 2016 over Q3 December 2015.

Amtek Auto is an integrated component manufacturer.

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Kotak Mahindra Bank gains, Axis Bank drops in early trade
Feb 20,2017

Kotak Mahindra Bank (up 0.54% at Rs 800.50) edged higher. Axis Bank (down 0.04% at Rs 488.80) edged lower.

Meanwhile, the S&P BSE Sensex was down 27.34 points or 0.1% at 28,441.41.

Kotak Mahindra Bank in its clarification issued to the stock exchanges with respect to recent news article in media titled Kotak Mahindra, Axis Bank shares up on merger buzz said that it does not comment on speculation. The bank undertakes to comply with all its disclosure obligations, it said. The announcement was made after market hours on Friday, 17 February 2017.

Meanwhile, media reports quoted Axis Bank CEO Shikha Sharma as saying that there is no truth in merger reports of Axis Bank with Kotak Mahindra Bank.

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

Kotak Mahindra Bank is one of the leading private sector banks in India. The banks net profit rose 38.6% to Rs 879.76 crore on 11% growth in total income to Rs 5377.83 crore in Q3 December 2016 over Q3 December 2015.

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Food processing sector to generate 9 million jobs by 2024: study
Feb 20,2017

Indian food processing sector has potential to attract US$ 33 billion of investment and generate employment of 9 million persons days by FY 2024, said an ASSOCHAM-Grant Thorton Research paper.

The food processing is a key contributor to employment generation in India. The policymakers have identified food processing as a key sector in encouraging labour movement from agriculture to manufacturing. By 2024, food processing sector is expected to employ 9 million people in India and expected to generate about 8,000 direct and 80,000 indirect jobs in the state, the ASSOCHAM-Grant Thornton joint study on Food Retail: Investment: Infrastructure noted.

According to the study, Indian food processing industry is pegged close to US$ 121 billion to US$ 130 billion. With the second largest arable land in the world, it is the largest producer of milk, pulses, sugarcane and tea in the world and the second largest producer of wheat, rice, fruits and vegetables.

Despite the massive production, the degree of processing is low and ranges between 2 to 35 percent for different produce. India is one of the top rankers in the production of bananas, guavas, ginger, papaya etc., although processing levels in the country remain limited. This indicates an extensive opportunity in the food processing sector, adds the paper.

According to the joint study, Indian food and retail market is projected to touch US$ 482 billion by FY 2020 from the current level of US$ 258 billion in 2015, adds the paper.

With globalisation and increasing trade across the borders approximately about 460 million tons of food valued at US$ 3 billion is traded annually. India has thus, a great potential for global trade in agricultural and processed food products. The share of food processing exports in total exports was around 12 percent in the last few years. During FY 2011-15, Indias exports of processed food related products have been growing at a CAGR of 23.3 percent.

The unorganised sector accounts for 42 percent of Indias food processing industry. The sizeable presence of small-scale industries points to the sectors role in employment generation. As per the study, though the market falls under the unorganised sector in the country, the organised sector has a larger share in the secondary processing segment than the primary one.

Food and grocery constitute a substantial part of Indias consumption basket accounting for around 31 percent share in the total. In contrast, consumers in other countries spend a much lower proportion of their income on food and groceryn++9 percent in the United States (US), 17 percent in Brazil and 25 percent in China. Food and grocery is the largest segment in Indias retail sector, with a share of more than 60 percent in Indias total retail market in 2014.

India is the worlds second largest producer of food after China. The arable land area of 159.7 mn hectares (394.6 mn acres) is the second largest in the world (after the US). India has a strong raw material base for the food processing industry. India is one of the largest producers of certain fruits, vegetables, pulses, cereals and dairy products such as mangoes, papaya, potatoes, onions, ginger, check peas, rice, wheat, groundnuts, milk and eggs among others.

Strong demand growth

n++ Demand for food processed food rising with growing disposable income, urbanisation, young population and nuclear families

n++ Household consumption set to double by 2020

n++ Changing lifestyle and increasing expenditure on health and nutritional foods

Food processing hub

n++ Indian benefits from large agriculture sector, abundant livestock and cost competitiveness

n++ Investment opportunities arise in agriculture, food infrastructure and contract farming

n++ Diverse agro-climatic conditions encourage cultivation of different crop

Increasing investment

n++ Govt. expect US$ 21.9 bn of investment in food processing infrastructure by 2015

n++ Investment including FDI would rise with strengthening demand and supply fundamentals

n++ Launch of infrastructure development schemes to increase investment in food processing infrastructure

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Board of Lloyd Electric & Engineering approves sale of consumer durables business & brand Lloyd
Feb 20,2017

Lloyd Electric & Engineering announced that the Board of Directors of the Company at its meeting held on 18 February 2017 have approved the following -

Sale and exit of the Consumer Durables Business and brand, logo, trademark Lloyd to Havells India on a going concern basis.

Change the name of the Company to remove the word Lloyd on or before the completion of the proposed transaction.

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United Bank of India announces appointment of Executive Director
Feb 20,2017

United Bank of India announced that the Ministry of Finance vide Notification dated 16 February 2017 has appointed Ashok Kumar Pradhan as Executive Director of the Bank under Section 9(3)(a) of The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/80 read with clauses 3(1) and 8(1) of The Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970/80 w.e.f. the date of his taking over of charge of the post i.e. 18 February 2017 for a period of 3 years or until further orders, whichever is earlier.

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Allahabad Bank announces appointment of Executive Director
Feb 20,2017

Allahabad Bank announced that in exercise of the powers conferred by sub-section 3(a) of Section 9 of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970/1980, read with Sub clause (1) of Clause 3 and sub clause (1) of Clause 8 of the Nationalized Banks (Management & Miscellaneous Provisions) Scheme, 1970/1980, the Govt, of India, Ministry of Finance, Department of Financial Services vide their Notification dated 16 February 2017, have appointed S. Harisankar, CGM, State Bank of Travancore, as Executive Director of the Bank for a period of three years with effect from the date of his taking over charge of the post or until further orders, whichever is earlier.

Accordingly, S. Harisankar has taken over the charge of Executive Director of the Bank on date i.e. 18 February 2017.

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State Bank of India intimates of proposed bank strike
Feb 20,2017

State Bank of India announced that the Bank have been advised by the Indian Banks Association (IBA) that members of United Forum of Bank Unions (AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBEF, NOBW, INBOC & NOBO) have served notices of strike on Indian Banks Association, informing their decision to go on strike on 28 February 2017 in all the banks on certain issues.

All India State Bank Officers Federation and All India State Bank of India Staff Federation, being part of UFBU will also participate in the said .

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Board of Havells India approves purchase of Lloyd Electrics Consumer Durables Business
Feb 20,2017

Havells India announced that the Company in its Board Meeting held on 18 February 2017, has approved the purchase of Consumer Durables Business of Lloyd Electric and Engineering on a going concern basis, subject to due diligence and other regulatory approvals.

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