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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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Peninsula Land to announce September quarter results
Nov 15,2016

Peninsula Land announced that a meeting of the Board of Directors of the Company will be held on 23 November 2016, inter alia, to consider, approve and take on record the Unaudited Financial Results of the Company for the quarter and period ended 30 September 2016 along with Statement of Assets and Liabilities for the half-year ended on that date.

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Board of Burnpur Cement appoints director
Nov 15,2016

The Board of Burnpur Cement appointed Tapan Kumar Roy as director of the Company.

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Board of Burnpur Cement appoints director
Nov 15,2016

The Board of Burnpur Cement appointed Tapan Kumar Roy as director of the Company.

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Hire retired bank staff; others on big scale to deal with demonetisation: ASSOCHAM
Nov 15,2016

Assuring the government of India Incs support against corruption and black money, the ASSOCHAM today impressed upon the government to mobilise all resources across different departments and hire retired bank staff on a massive scale to expedite the currency swapping and withdrawal of cash with minimum inconvenience to the public.

n++Just like general elections when staff across different departments is mobilised; different types of staff can be used for helping the over-stretched banks , grappling with the huge task of dealing with the demonitised currency notes of Rs 500 and Rs 1,000 and dispensing the new notes. The best option appears to be employing the retired bank staff on a mass scale on short-term contracts of three to six months, the ASSOCHAM said in an appeal to the Prime Minister Mr Narendra Modi.

It said while some banks like the State Bank of India and a few others have roped in retired staff, the exercise should be done on a massive scale to deal with the situation.

n++While preference can be given by the banks to re-employ their own retired personnel, even cross - bank staff would be helpful. After all, functioning of the public sector banks is generally the same, the chamber Secretary General Mr D S Rawat said.

It said, the options should be explored to divert staff of other financial services wings and PSUs in the insurance sector for the banking operations for the moment.

The options of outsourcing the house-keeping services to the private sector for the orderly conduct of business at the bank branches should be explored. Such services can include helping the senior citizens; guiding those not familiar with the banking, and the general security upkeep. The local traders associations and market bodies like Azadpur Mandi, should also be involved in the exercise.

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BPCL slips despite declaring good Q2 results
Nov 15,2016

The result was announced after market hours on Friday, 11 November 2016.

Meanwhile, the S&P BSE Sensex was down 205.20 points or 0.77% at 26,613.62

On BSE, so far 9,180 shares were traded in the counter as against average daily volume of 79,000 shares in the past two weeks. The stock hit a high of Rs 652.15 and a low of Rs 640.05 in intraday trade. The stock had hit a record high of Rs 694.75 on 18 October 2016. The stock had hit a 52-week low of Rs 366.10 on 23 February 2016.

The large-cap company has equity capital of Rs 1446.17 crore. Face value per share is Rs 10.

BPCLs average gross refining margin (GRM) rose to $4.56 per barrel in Q2 September 2016 over $3.08 per barrel in Q2 September 2015.

Seperately BPCL after market hours on Friday, 11 November 2016 announced formation of Joint Venture with GAIL Gas for a City Gas Distribution (CGD). Consortium of BPCL and GAIL Gas has been awarded the authorization for laying, building, operating and expanding of a City Gas Distribution Network (CGD Network) in the geographical area of North Goa by the Petroleum and Natural Gas Regulatory Board established under the PNGRB Act, 2006. The board of directors of the company has approved the proposal to form a new Joint Venture Company (JVC) for this purpose, BPCL said. The proposed JVC shall have equal equity participation from BPCL and Gail Gas and with a provision for equity stake of up to 10% for government of Goa or its nominee. The authorization provides exclusively for laying gas pipelines and related infrastructure in the GA over the next 25 years and a marketing exclusivity for 5 years. The CGD Network shall cater to the demand of CNG and Piped Natural Gas to consumers in the domestic, commercial and industrial segments.

BPCL is a state-run oil refining-cum-marketing company. The Government of India currently holds 54.93% stake in BPCL (as per the shareholding pattern as on 30 September 2016).

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Board of Nexus Commodities And Technologies appoints director
Nov 15,2016

The Board of Nexus Commodities And Technologies appointed Ram Swaroop Joshi as an Additional Director of the Company.

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Board of Nexus Commodities And Technologies appoints director
Nov 15,2016

The Board of Nexus Commodities And Technologies appointed Ram Swaroop Joshi as an Additional Director of the Company.

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Board of Athena Constructions accepts resignation of company secretary
Nov 15,2016

The Board of Athena Constructions accepted the resignation of Gautami Chaudhari from the post of Compliance Office and Company Secretary of the Company.

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Board of Athena Constructions accepts resignation of company secretary
Nov 15,2016

The Board of Athena Constructions accepted the resignation of Gautami Chaudhari from the post of Compliance Office and Company Secretary of the Company.

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Board of Kridhan Infra appoints director
Nov 15,2016

The Board of Kridhan Infra appointed Amar Fadia as an Additional Director on the Board of the Company with effect from 14 November 2016.

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Board of Kridhan Infra appoints director
Nov 15,2016

The Board of Kridhan Infra appointed Amar Fadia as an Additional Director on the Board of the Company with effect from 14 November 2016.

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PM takes certain decisions to further activate the dispensing of cash through the networks of BCs, Post Offices, ATMs, Banks & E-payment systems
Nov 15,2016

The Prime Minister Shri Narendra Modi reviewed the supply and availability of currency notes till late evening on 13 November2016.

The Meeting took stock of the current status of supply of cash and took certain decisions to further activate the dispensing of cash through the networks of Banking Correspondents, Post Offices, ATMs, Banks and E-payment systems. Following decisions were also taken keeping in view the convenience of the public.

Banking Correspondents (BCs) Network :

1. Banks will increase the cash holding limit of BCs to at least Rs.50,000/- each. Banks will also allow higher limits in appropriate cases.

2. Banks will replenish the cash with BCs multiple times in a day as per requirement of the BCs.

BCs have wide presence in the rural areas. Totally there are 1.2 lakh BCs in the country. The above decisions will facilitate wider reach in the rural areas for exchange and withdrawal of cash from Bank Accounts.

Postal Network :

3. There are about 1.3 lakh Branch Post Offices in the country. It has been decided to enhance the supply of cash to Branch Post Offices to facilitate cash withdrawals from Postal Accounts.

It may be noted that with 1.2 lakh BCs and 1.3 lakh branch Post Offices getting further activated, a total number of 2.5 lakh points in rural areas will be available to disburse cash and facilitate cash withdrawals from Bank Accounts.

ATM Network :

4. To expedite the process of recalibration of ATMs, a Task Force is being set up under Deputy Governor, RBI consisting of representatives of Banks and Finance Ministry. This Task Force will draw up action plan and ensure implementation of this action plan for quick recalibration of the ATMs to enable them to dispense new Bank notes of Rs.500/- and Rs.2000/-.

5. In the meantime, Micro ATMs will be deployed to dispense cash against Debit/Credit cards up to the cash limits applicable for ATMs. The handheld Micro ATMs have the facility of mobility and deployment at the required places.

Network and Reach of the Banks :

6. The withdrawal limit of Rs.20,000/- per week has been enhanced to Rs.24,000/-. The withdrawal limit of Rs.10,000/- per day has been removed.

7. The limit of Rs.4000/- for over the counter exchange against old Rs.500/- and Rs.1000/- notes has been increased to Rs.4500/-. This will enable the Banks to give lower denomination notes for Rs.500/- while dispensing the remaining Rs.4000/- through Rs.2000/- notes.

8. The ATMs are progressively getting recalibrated. As and when they are recalibrated, the cash limit of such ATMs will stand enhanced to Rs.2500/- per withdrawal. This will enable dispensing of lower denomination currency notes for about Rs.500/- per withdrawal. Other ATMs which are yet to be recalibrated, will continue to dispense Rs.2000/- till they are recalibrated.

9. Business entities having Current Accounts which are operational for last three months or more will be allowed to draw Rs.50,000/-per week. This can be done in a single transaction or multiple transactions. This will enable the small business entities to pay wages to their workers and make sundry payments.

10. Adequate cash will be made available with District Central Cooperative Banks (DCCBs) to facilitate withdrawal from existing accounts. The cash withdrawal limits for Banks will apply in case of DCCBs also.

The above measures would substantially enhance the reach of the banking system to exchange notes and facilitate cash withdrawal from bank accounts.

E-Payments :

11. All Central Government Departments and Public Sector Enterprises are being instructed to use the method of e-payments to the maximum extent possible.

12. RBI has advised National Payments Corporation of India (NPCI) to waive its transaction charges on transactions settled through National Financial Switch(NFS) till 31st December, 2016.

13. Banks are also being advised to waive similar charges currently levied by them.

Arrangements for public convenience :

14. Banks have been advised to arrange separate queues in their branches for senior citizens and divyang persons; customers for transactions against accounts held with the Bank; and exchange of notes. There will, therefore be, three or more separate queues in every branch.

15. Pensioners are required to submit Annual Life Certificate during the month of November. This time limit has been extended up to 15th January, 2017.

16. The existing exemptions for acceptance of old Rs.500/- and Rs.1000/- notes for certain types of transactions are being extended beyond 14th November, 2016 midnight up to 24th November, 2016 mid night.

There is enough cash in the system to meet the requirement. Members of the public are, therefore, advised not to have any sense of panic.

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Tata Motors in focus after declaring turnaround Q2 outcome
Nov 15,2016

Tata Motors reported consolidated net profit of Rs 848.16 crore in Q2 September 2016 as compared with net loss of Rs 1740.20 crore in Q2 September 2015. Total income rose 7% to Rs 66,106.96 crore in Q2 September 2016 over Q2 September 2015. The result was announced on Monday, 14 November 2016, when the stock market was closed for a public holiday.

GAIL (India) will announce its Q2 September 2016 results today, 15 November 2016.

Tata Steel reported consolidated net loss of Rs 49.38 crore in Q2 September 2016 compared with consolidated net profit of Rs 5609.43 crore in Q2 September 2015. Total income fell 0.01% to Rs 27579.57 crore in Q2 September 2016 over Q2 September 2015. The result was announced was announced after market hours on Friday, 11 November 2016.

Aurobindo Pharmas consolidated net profit rose 33.53% to Rs 605.64 crore on 12.03% rise in total income to Rs 3783.73 crore in Q2 September 2016 over Q2 September 2015. The result was announced on Monday, 14 November 2016.

Bharat Petroleum Corporations (BPCL) net profit rose 26.16% to Rs 1305.18 crore on 2.67% fall in total income to Rs 45715.06 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours on Friday, 11 November 2016.

Seperately BPCL after market hours on Friday, 11 November 2016 announced formation of Joint Venture with GAIL Gas for a City Gas Distribution (CGD). Consortium of BPCL and GAIL Gas has been awarded the authorization for laying, building, operating and expanding of a City Gas Distribution Network (CGD Network) in the geographical area of North Goa by the Petroleum and Natural Gas Regulatory Board established under the PNGRB Act, 2006. The board of directors of the company has approved the proposal to form a new Joint Venture Company (JVC) for this purpose, BPCL said. The proposed JVC shall have equal equity participation from BPCL and Gail Gas and with a provision for equity stake of up to 10% for government of Goa or its nominee. The authorization provides exclusively for laying gas pipelines and related infrastructure in the GA over the next 25 years and a marketing exclusivity for 5 years. The CGD Network shall cater to the demand of CNG and Piped Natural Gas to consumers in the domestic, commercial and industrial segments.

Hindalco Industries net profit surged 256.18% to Rs 439.74 crore on 1.28% rise in total income to Rs 9,494.40 crore in Q2 September 2016 over Q2 September 2015. The result was announced on Saturday, 12 November 2016.

Bank of Barodas net profit net profit jumped 343.54% to Rs 552.12 crore on 2.06% decline in total income to Rs 12046.60 crore in Q2 September 2016 over Q2 September 2015. The result was announced was announced after market hours on Friday, 11 November 2016.

IL&FS Transportation Networks said that IIPL USA LLC, a wholly owned subsidiary of the company has been declared as the preferred bidder for the maintenance of 4 project highways in Dallas County, Texas USA. The combined length of the highways to be maintained is 436 Miles (698 Km) for a period of 730 days at the total contract value of $1.75 million (approx. Rs 11.65 crore). This is in continuation to the Routine Maintenance Contract awarded for Tyler District, Texas in the amount of $5.25 million (approx. Rs 35 crore). The announcement was made after market hours on Friday, 11 November 2016.

Hikal said that credit rating agency ICRA has upgraded the companys long term rating from BBB to BBB+. The outlook on long term rating is stable. ICRA has reaffirmed the short term rating of A2. The announcement was made after market hours on Friday, 11 November 2016.

MOIL said that the board of directors of the company has approved Memorandum of Understanding (MoU) signed jointly with Government of Madhya Pradesh, Mineral Resources Department and Madhya Pradesh State Mining Corporation, a PSU under Govt, of Madhya Pradesh to conduct exploration and prospecting works in Madhya Pradesh. The announcement was made after market hours on Friday, 11 November 2016.

Kingfa Science & Technology (India) said that the Maharashtra Industrial Development Corporation has handed over the possession of Plot No. F-5/5 admeasuring 120000 sq mtr of the Chakhan Industrial Area Phase -II, Village Shinde & Vasuli Tal-Khed, District - Pune to the company, for manufacturing facility. The company also has signed the lease Agreement for the land. The result was announced on Monday, 14 November 2016, when the stock market was closed for a public holiday.

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Manaksia Industries reports standalone net profit of Rs 0.84 crore in the September 2016 quarter
Nov 15,2016

Net profit of Manaksia Industries reported to Rs 0.84 crore in the quarter ended September 2016 as against net loss of Rs 0.38 crore during the previous quarter ended September 2015. Sales declined 32.93% to Rs 16.01 crore in the quarter ended September 2016 as against Rs 23.87 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales16.0123.87 -33 OPM %18.867.92 - PBDT1.840.59 212 PBT0.87-0.51 LP NP0.84-0.38 LP

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Reliance Communications reports standalone net loss of Rs 864.00 crore in the September 2016 quarter
Nov 15,2016

Net Loss of Reliance Communications reported to Rs 864.00 crore in the quarter ended September 2016 as against net loss of Rs 361.00 crore during the previous quarter ended September 2015. Sales declined 9.20% to Rs 2212.00 crore in the quarter ended September 2016 as against Rs 2436.00 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales2212.002436.00 -9 OPM %2.0312.03 - PBDT-474.00-199.00 -138 PBT-882.00-683.00 -29 NP-864.00-361.00 -139

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