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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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Modest losses at Wall Street
Dec 23,2016

U.S. stocks ended Thursdays thinly-traded preholiday session with modest losses on 22 December 2016. Investors seemed reluctant to bid up prices of indexes that are already hovering near all-time highs. The S&P 500 and Nasdaq Composite booked their first consecutive losses in three weeks, as the n++Trump rallyn++ lost momentum over the past few sessions.

The Dow Jones Industrial Average finished 23.08 points, or 0.1%, lower at 19,918.88. The blue-chip index struggled to hit 20,000 as the psychologically important level has eluded it for days amid stalled momentum. The S&P 500 closed 4.22 points, or 0.2%, lower at 2,260.96, only 11 points below its all-time high set last week. The tech-heavy Nasdaq Composite declined 24.01 points, or 0.4%, at 5,447.42, but is still hovering near its record level set on Tuesday.

Of the S&P 500s 11 main sectors, seven closed in negative territory. Consumer discretionary stocks were among the biggest losers, with the sectors finishing 1% lower.

The ICE Dollar Index was up less than 0.1% on Thursday. The dollar gauge, which measures the strength of the buck against a basket of six currencies.

At Wall Street there was mixed U.S. economic indicators on Thursday. A reading of third-quarter gross domestic product was lifted to a gain of 3.5% on an annual basis, while durable-goods orders fell for the first time in five months in November.

Separately, U.S. jobless claims climbed to the highest level since mid-June, rising 21,000 to 275,000. But even with this increase, overall levels of layoffs are still very low.

Bullion prices ended lower at Comex on Thursday, 22 December 2016. Gold prices on Thursday declined for a third straight session, adding to their December retreat, even as the dollar fell from a 14-year high notched earlier this week.

Gold for February delivery fell $2.50, or 0.2%, to settle at $1,130.70 an ounce, after logging narrow declines on Tuesday and Wednesday. For the week, gold is down 0.5%. If the metal logs another weekly loss on Friday, it will be the seventh weekly loss for gold in a row. March silver fell 10.8 cents, or 0.7%, to settle at $15.87 an ounce on Thursday.

Crude-oil futures settled firmly higher on Thursday, 22 December 2016 at Nymex bouncing back after slumping a day earlier on reports of a surprise buildup in U.S. inventories. A strong report on U.S. gross domestic product and a larger-than-expected drawdown of natural-gas supplies helped to revive sentiment that domestic appetite for crude products may be able to sop up supplies in tandem with an agreement by the Organization of the Petroleum Exporting Countries to curb global production.

West Texas Intermediate crude for delivery in February picked up 46 cents, or 0.9%, to settle at $52.95 a barrel. Meanwhile, February Brent crude on Londons ICE Futures exchange added 59 cents, or 1.1%, to close at $55.05 a barrel.

Futures climbed as the U.S. Energy Information Administration reported on Thursday that natural gas inventories declined by 209 billion cubic feet during the week ended 16 December 2016, more than double the average for this time of year.

Treasuries ended the day on a mostly lower note with the 10-yr yield rising one basis point to 2.55%.

Intraday investor participation was below average, but a volume surge into the close lifted the NYSE floor total above yesterdays level of 850 million to more than 875 million.

Tomorrows economic data will be limited to the 10:00 ET release of November New Home Sales (consensus 573,000) and the final reading of the Michigan Sentiment Index for December (consensus 98.2).

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US stocks register modest losses
Dec 23,2016

U.S. stocks ended Thursdays thinly-traded preholiday session with modest losses on 22 December 2016 as investors seemed reluctant to bid up prices of indexes that are already hovering near all-time highs. The S&P 500 and Nasdaq Composite booked their first consecutive losses in three weeks, as the n++Trump rallyn++ lost momentum over the past few sessions.

The Dow Jones Industrial Average finished 23.08 points, or 0.1%, lower at 19,918.88. The blue-chip index struggled to hit 20,000 as the psychologically important level has eluded it for days amid stalled momentum. The S&P 500 closed 4.22 points, or 0.2%, lower at 2,260.96, only 11 points below its all-time high set last week. The tech-heavy Nasdaq Composite declined 24.01 points, or 0.4%, at 5,447.42, but is still hovering near its record level set on Tuesday.

Of the S&P 500s 11 main sectors, seven closed in negative territory. Consumer discretionary stocks were among the biggest losers, with the sectors finishing 1% lower.

The ICE Dollar Index was up less than 0.1% on Thursday. The dollar gauge, which measures the strength of the buck against a basket of six currencies.

At Wall Street there was mixed U.S. economic indicators on Thursday. A reading of third-quarter gross domestic product was lifted to a gain of 3.5% on an annual basis, while durable-goods orders fell for the first time in five months in November.

Separately, U.S. jobless claims climbed to the highest level since mid-June, rising 21,000 to 275,000. But even with this increase, overall levels of layoffs are still very low.

Bullion prices ended lower at Comex on Thursday, 22 December 2016. Gold prices on Thursday declined for a third straight session, adding to their December retreat, even as the dollar fell from a 14-year high notched earlier this week.

Gold for February delivery fell $2.50, or 0.2%, to settle at $1,130.70 an ounce, after logging narrow declines on Tuesday and Wednesday. For the week, gold is down 0.5%. If the metal logs another weekly loss on Friday, it will be the seventh weekly loss for gold in a row. March silver fell 10.8 cents, or 0.7%, to settle at $15.87 an ounce on Thursday.

Crude-oil futures settled firmly higher on Thursday, 22 December 2016 at Nymex bouncing back after slumping a day earlier on reports of a surprise buildup in U.S. inventories. A strong report on U.S. gross domestic product and a larger-than-expected drawdown of natural-gas supplies helped to revive sentiment that domestic appetite for crude products may be able to sop up supplies in tandem with an agreement by the Organization of the Petroleum Exporting Countries to curb global production.

West Texas Intermediate crude for delivery in February picked up 46 cents, or 0.9%, to settle at $52.95 a barrel. Meanwhile, February Brent crude on Londons ICE Futures exchange added 59 cents, or 1.1%, to close at $55.05 a barrel.

Futures climbed as the U.S. Energy Information Administration reported on Thursday that natural gas inventories declined by 209 billion cubic feet during the week ended 16 December 2016, more than double the average for this time of year.

Treasuries ended the day on a mostly lower note with the 10-yr yield rising one basis point to 2.55%.

Intraday investor participation was below average, but a volume surge into the close lifted the NYSE floor total above yesterdays level of 850 million to more than 875 million.

Tomorrows economic data will be limited to the 10:00 ET release of November New Home Sales (consensus 573,000) and the final reading of the Michigan Sentiment Index for December (consensus 98.2).

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Gujarat Inject (Kerala) appoints company secretary and compliance officer
Dec 23,2016

Gujarat Inject (Kerala) announced that Harsh Shah (a member of the Institute of Company Secretaries of India holding Membership No. A31483) be and is hereby appointed as the Company Secretary and Compliance Officer of the Company with effect from 21 December 2016.

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Aurionpro Solutions inches up as Goodpack selects companys product suite
Dec 23,2016

The announcement was made after market hours yesterday, 22 December 2016.

Meanwhile, the S&P BSE Sensex was down 92.28 points or 0.36% at 25,887.32.

On the BSE, 12,000 shares were traded on the counter so far as against the average daily volumes of 34,203 shares in the past one quarter. The stock had hit a high of Rs 139.95 and a low of Rs 136.20 so far during the day.

The stock had 52-week high of Rs 224.90 on 28 December 2015 and a 52-week low of Rs 90.35 on 9 November 2016. The stock had outperformed the market over the past one month till 22 December 2016, advancing 44.57% compared with the Sensexs 0.07% rise. The scrip had also outperformed the market over the past one quarter advancing 8.85% as against the Sensexs 9.71% fall.

The small-cap company has equity capital of Rs 21.95 crore. Face value per share is Rs 10.

Aurionpro Solutions announced that Goodpack has selected the companys SCMProFit product suite to help manage its inventory positions and movement across more than 190 depots in 18 countries and 5,000 inventory hubs worldwide. SCMProFit product suite is an industry leading cloud-based, fully-integrated supply chain platform, delivering state-of-the-art order management, depot operation, freight and transportation.

Aurionpro Solutions consolidated net profit fell 82.26% to Rs 5.43 crore on 16.59% growth in net sales to Rs 165.49 crore in Q2 September 2016 over Q1 June 2016.

Aurionpro Solutions is a tehnology products and solution provider that helps enterprise accelerate digital innovation securely & efficiently.

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Puravankara Projects renamed as Puravankara
Dec 23,2016

Puravankara Projects announced that with effect from 21 December 2016, the name of the company has changed from Puravankara Projects to Puravankara.

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Precious metals turn pale
Dec 23,2016

Bullion prices ended lower at Comex on Thursday, 22 December 2016. Gold prices on Thursday declined for a third straight session, adding to their December retreat, even as the dollar fell from a 14-year high notched earlier this week.

Gold for February delivery fell $2.50, or 0.2%, to settle at $1,130.70 an ounce, after logging narrow declines on Tuesday and Wednesday. For the week, gold is down 0.5%. If the metal logs another weekly loss on Friday, it will be the seventh weekly loss for gold in a row.

March silver fell 10.8 cents, or 0.7%, to settle at $15.87 an ounce on Thursday.

For the year, gold and silver are poised for their most robust gains since 2012. Gold is headed for a roughly 6% advance and silver is up 15% for 2016, boosted by early-year gains scored when expectations for interest-rate increases by the Federal Reserve were more subdued.

The ICE Dollar Index was up less than 0.1% on Thursday. The dollar gauge, which measures the strength of the buck against a basket of six currencies.

Both the dollar and gold remained relatively muted, following mixed U.S. economic indicators Thursday. A reading of third-quarter gross domestic product was lifted to a gain of 3.5% on an annual basis, while durable-goods orders fell for the first time in five months in November.

An additional negative in gold was Italys approval of n++20 billion in bailout funds for its ailing banking sector,

The precious metal has declined 3.7% so far in December, weighed by a rising dollar and higher interest rates. Because gold is priced in dollars, any advances for the greenback make the metal more expensive for other currency holders, presumably impeding appetite. Additionally, rising yields make it more attractive to invest in assets that offer interest, which gold doesnt.

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HDFC Bank allots equity shares
Dec 23,2016

HDFC Bank announced that the Bank on 23 December 2016 has allotted 2376700 equity shares to the employees of the Bank pursuant to exercise of options under its Employees Stock Options Schemes (ESOS).

The paid up share capital of the Bank will accordingly increase from Rs. 5105994834 equity shares of Rs. 2/- each to Rs. 5110748234 equity shares of Rs. 2/- each.

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Voltamp Transformers slips after suspending operations at Savli factory
Dec 23,2016

The announcement was made after market hours yesterday, 22 December 2016.

Meanwhile, the BSE Sensex was down 82.14 points, or 0.32%, to 25,897.46.

On the BSE, so far 1,543 shares were traded in the counter, compared with average daily volumes of 5,450 shares in the past one quarter. The stock had hit a high of Rs 864.55 and a low of Rs 836.75 so far during the day.

The stock hit a 52-week high of Rs 1,003 on 30 November 2016. The stock hit a 52-week low of Rs 665.50 on 24 February 2016. The stock had outperformed the market over the past 30 days till 22 December 2016, rising 0.27% compared with the 0.28% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 7.05% as against Sensexs 9.38% decline.

The small-cap company has equity capital of Rs 10.12 crore. Face value per share is Rs 10.

Voltamp Transformers said that a few of contract workmen at the companys Savli factory in Vadodara, Gujarat resorted to violent act on 20 December 2016 with the companys production supervisors, outside factory premise. The company suspended Savli factory operations effective from 21 December 2016 to ensure safety and security of the companys employees and property. However, operations at the companys Makarpura factory situated at Vadodara, Gujarat are totally normal, the company said.

Net profit of Voltamp Transformers rose 209.1% to Rs 20.96 crore on 21.1% rise in net sales to Rs 160.84 crore in Q2 September 2016 over Q2 September 2015.

Voltamp Transformers has installed facility to manufacture oil filled power and distribution transformers up to 160 megavolt amperes (MVA), 220 kilovolts (kV) class.

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JK Paper gains after announcing cessation of JV agreement with Oji JK Packaging
Dec 23,2016

The announcement was made after market hours yesterday, 22 December 2016.

Meanwhile, the S&P BSE Sensex was up 2.90 points or 0.01% at 25,982.50

On the BSE, 1.21 lakh shares were traded on the counter so far as against the average daily volumes of 2.17 lakh shares in the past one quarter. The stock had hit a high of Rs 89 and a low of Rs 86.25 so far during the day.

The stock had hit a record high of Rs 101.80 on 3 November 2016. The stock had hit a 52-week low of Rs 40.30 on 29 February 2016. The stock had outperformed the market over the past 30 days till 22 December 2016, rising 3.55% compared with the 0.28% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 37.34% as against Sensexs 9.38% decline.

The small-cap company has equity capital of Rs 155.96 crore. Face value per share is Rs 10.

JK Paper had on 25 October 2012 entered into a joint venture (JV) agreement with Oji Holdings Corporation, Japan (OHC), Marubeni Corporation, Japan and Oji India Packaging (later renamed as Oji JK Packaging) (OJPPL) for the purpose of manufacturing and sale of corrugated packaging products by OJPPL and had thereafter subscribed to 1.25 crore equity shares, being 20% shareholding of OJPPL.

JK Paper said that the company has decided at its meeting of committee of directors held yesterday, 22 December 2016, to sell its 20% shareholding in OJPPL to OHC, one of the joint venture parties. The company has authorised certain directors/executives of the company to sign the share purchase agreement and to transfer the relevant shares to OHC, whereby the company would cease to be a party of the joint venture, JK Paper said.

JK Papers net profit surged 144.9% to Rs 43.96 crore on 14.35% rise in net sales to Rs 673.23 crore in Q2 September 2016 over Q2 September 2015.

JK Paper is Indias leading branded paper company and the largest producer of photocopier paper.

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Sasken Communication Technologies provides update on scheme of amalgamation
Dec 23,2016

Sasken Communication Technologies announced that with reference to the Scheme of Amalgamation for merger of Sasken Network Engineering(SNEL), the wholly owned subsidiary of the Company with the Company (the holding Company). SNEL had filed a petition in the Honble High Court of Karnataka for the said merger in April 2016.

As the Company is going ahead with buy-back of its shares and in compliance with SEBI (Buy-back of Securities) Regulations, 1998, SNEL had applied for withdrawal of the Petition with a liberty to revive the same. The Honble High Court was pleased to permit withdrawal of the Petition as prayed for. A certified copy of the Order has since been received and filed with Ministry of Corporate Affairs today.

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Board of White Diamond Industries allots warrants
Dec 23,2016

White Diamond Industries announced that the Board of Directors of the Company in their meeting held on 21 December 2016 has issued and allotted 5,000,000 share warrants to promoters and persons other than promoters.

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Sun Pharma invests in preference stock of US pharma company - scPharmaceuticals Inc.
Dec 23,2016

Sun Pharmaceutical Industries announced that one of the wholly owned subsidiaries of the Company has acquired 13,000,000 Series B Preferred Stock of scPharmaceuticals Inc. (equivalent to 14.58% fully diluted equity stake on conversion) by way of allotment.

scPharmaceuticals Inc., incorporated in 2014, is a United States pharmaceutical company developing a portfolio of transformativepharmaceutical products for subcutaneous delivery. Its lead products are the first subcutaneous formulations of furosemide (the most widelyused parenteral diuretic in treating heart failure) and ceftriaxone (the most widely used parenteral antibiotic outside the hospital setting).

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Yes Bank receives ratings for Basel III compliant ATI Bonds for additional Rs 1500 cr
Dec 23,2016

Yes Bank has received ratings for an additional amount of Rs 1500 crore of Basel III compliant ATI (Additional Tier - I) Bonds. This takes the quantum of rated Basel III compliant ATI Bonds to Rs 3600 crore.

CARE Ratings - CARE AA with Stable Outlook

India Ratings & Research - Ind AA with Stable Outlook

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Hinduja Ventures gains after board approves stake sale in Hinduja Energy (India)
Dec 23,2016

The announcement was made after market hours yesterday, 22 December 2016.

Meanwhile, the BSE Sensex was down 3.44 points, or 0.01%, to 25,976.16.

On the BSE, so far 25 shares were traded in the counter, compared with average daily volumes of 3,109 shares in the past one quarter. The stock had hit a high of Rs 521.25 and a low of Rs 507 so far during the day.

The stock hit a 52-week high of Rs 600.70 on 1 November 2016. The stock hit a 52-week low of Rs 365.10 on 12 February 2016. The stock had outperformed the market over the past 30 days till 22 December 2016, falling 0.23% compared with the 0.28% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 8.90% as against Sensexs 9.38% decline.

The small-cap company has equity capital of Rs 20.56 crore. Face value per share is Rs 10.

Hinduja Ventures said that its board of directors has approved the disinvestment of 4.36 crore equity shares of Rs 10 each held by the company in Hinduja Energy (India), in tranches, as per independent valuation of Rs 31.58 per share to third party.

Net profit of Hinduja Ventures declined 0.04% to Rs 28.19 crore in Q2 September 2016 over Q2 September 2015. Net sales was reported at Rs 51.95 crore in Q2 September 2016. No sales were reported in Q2 September 2015.

Hinduja Ventures operates across three segments: media and communication, real estate, and investment and treasury.

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Wipro reaches an agreement with US Securities and Exchange Commissions
Dec 23,2016

Wipro announced that it has reached an agreement with the US Securities and Exchange Commission to formally resolve the previously disclosed six-year old investigation. Under the terms of the settlement, the Company consents to pay a civil money penalty of USD 55 million, to cease and desist from committing or causing violations of the Exchange Act, and to undertake certain follow through actions.

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