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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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Avanti Feeds reverses direction after hitting record high
Mar 07,2017

The stock had jumped 24.33% in fifteen sessions to settle at Rs 703.35 yesterday, 6 March 2017, from a close of Rs 565.70 on 10 February 2017.

Meanwhile, the BSE Sensex was down 87.80 points, or 0.3% to 28,960.39.

On the BSE, 4,444 shares were traded in the counter so far as against average daily volume of 8,484 shares in the past two weeks. The stock had hit a high of Rs 713.65 in intraday trade, which was also a record high for the stock. The stock had hit a low of Rs 691.30 so far during the day. The stock had hit a 52-week low of Rs 382.05 on 4 March 2016.

The stock had outperformed the market over the past one month till 6 March 2017, gaining 23.26% compared with 2.14% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 46.32% as against Sensexs 10.06% gains.

The small-cap company has an equity capital of Rs 9.08 crore. Face value per share is Re 2.

Avanti Feeds consolidated net profit rose 12.5% to Rs 41.11 crore on 35% rise in net sales to Rs 550.03 crore in Q3 December 2016 over Q3 December 2015.

Avanti Feeds is a leading provider of high quality feed, best technical support to the farmer and caters to the quality standards of global shrimp customers.

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Large imports of items like electronics run counter to Make in India
Mar 07,2017

For success of its flagship programme to boost manufacturing within the country, the governments Make in India should first target high import intensive items like electronic goods, machinery, steel and transport equipment which together add close to USD nine billion or over 27 per cent of the countrys monthly import bill, according to an ASSOCHAM analysis.

n++There are other major import items like crude oil, gold and precious stones which cannot be produced indigenously or are used for re-exports. But a growing economy like India which is witnessing a huge expansion in usage of telecom and other items using electronics , should go about in a focused manner to drastically cut imports of the items which can be substituted by domestic production and add to the countrys manufacturing strength. This is eminently doable, provided the policy initiatives are put in place and implemented with great clarity and speed both by the Centre and the states,n++ the chamber said.

The latest figures show import of close to USD four billion for electronics, .USD 2.36 billion for electrical and non-electrical machinery, USD 1.47 billion for transport equipment and about USD one billion for iron and steel.

Thanks to expanding demand for user industries particularly telecom, automobile, smart consumer devices, the annualized imports of electronics goods grew at a whopping 24.56 per cent in January, 2017.

n++The Make in India should focus on these select items and ensure that their manufacture in India either by the domestic investor or even foreign investor should be quite rewarding. Besides, the tax structure should be such that it should make the domestic manufacture far more competitive than importsn++, said ASSOCHAM Secretary General Mr D S Rawat.

He said too large an import of products which can be manufactured within the country runs contrary to the basic grain of the Make In India initiative.

n++Besides, it is only through manufacturing that large scale employment can be generated. In an environment where fresh investment is hard to come in several key sectors of the economy, electronics is one area where the country does not have adequate capacity and highly import dependent. Thus, investment in the sector from both domestic and global firms should be welcomed and promoted. States like Karnataka have taken some initiative, but much more needs to be done in the sector which is generally pollution free and is required greatly,n++.

Similarly, investment can be made in transport equipment while some leeway should be provided to the steel manufacturers.

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Scan Steels to hold board meeting
Mar 07,2017

Scan Steels will hold a meeting of the Board of Directors of the Company on 14 March 2017, for the allotment of Equity Shares on conversion of warrants issued / allotted by the company on 14.10.2015 as per In-principle approval of BSE.

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Sysco Industries gets revision in credit ratings
Mar 07,2017

Sysco Industries has received revision in credit ratings from Brickwork Ratings India as under -

Fund based limits - BWR BB+; Stable outlook (Reaffirmed)
Non fund based limits - BWR A4+ (Reaffirmed)

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KDDL appoints director
Mar 07,2017

KDDL appoints Sanjiv Sachar as Additional Director of the company w.e.f. 7 March 2017.

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Zydus settles patent litigation related to Trokendi XR (topiramate) extended release capsules
Mar 07,2017

Cadila Healthcare and its subsidiary Zydus Pharmaceuticals (USA) Inc. announced that they have finalised an agreement with Supernus Pharmaceuticals Inc. to settle all outstanding patent litigation related to Trokendi XR (topiramate) extended release capsules.

Under the terms of the agreement, Supernus grants Zydus a license to market Zydus generic version of Trokendi XR extended release capsules beginning on 01 January 2023 or earlier under certain circumstances.

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Nalco drops on profit booking
Mar 07,2017

Meanwhile, the S&P BSE Sensex was down 86.28 points, or 0.3%, to 28,961.91

On BSE, so far 2.64 lakh shares were traded in the counter as against average daily volume of 5.95 lakh shares in the past one quarter. The stock hit a high of Rs 79.85 and a low of Rs 77.70 so far during the day.

The stock had hit a 52-week high of Rs 79.85 yesterday, 6 March 2017. The stock had hit a 52-week low of Rs 36.55 on 4 March 2016. The stock had outperformed the market over the past 30 days till 6 March 2017, rising 10.38% compared with 2.86% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 28.26% as against Sensexs 10.06% gains.

The large-cap company has equity capital of Rs 966.46 crore. Face value per share is Rs 5.

National Aluminium Companys (Nalco) net profit declined 2.68% to Rs 143.92 crore on 13.92% growth in net sales to Rs 1963.81 crore in Q3 December 2016 over Q3 December 2015.

State-run Nalco has integrated and diversified operations in mining, metal and power. The Government of India (GoI) held 74.58% stake in the company (as per the shareholding pattern as on 31 December 2016).

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Board of Fag Bearings India appoints MD
Mar 07,2017

Fag Bearings India announced that the Board of Directors of our Company has approved appointment of Dharmesh Arora [DIN: 05350121] as a Managing Director of the Company with effect from 06 March 2017, in its meeting held on 06 March 2017.

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Den Networks gains after increasing stake in subsidiary
Mar 07,2017

The announcement was made after market hours yesterday, 6 March 2017.

Meanwhile, the BSE Sensex was down 58.38 points, or 0.20%, to 28,989.81.

On the BSE, 45,205 shares were traded in the counter so far, compared with average daily volumes of 77,014 shares in the past one quarter. The stock had hit a high of Rs 84.45 and a low of Rs 82 so far during the day. The stock had hit a 52-week high of Rs 104 on 1 April 2016. The stock had hit a 52-week low of Rs 60.85 on 30 November 2016.

The stock had underperformed the market over the past one month till 6 March 2017, falling 6.45% compared with 2.14% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 30.31% as against Sensexs 10.06% gains.

The small-cap company has equity capital of Rs 194.03 crore. Face value per share is Rs 10.

Den Networks said that it has entered into an agreement with DEN Digital Cable Network (DDCN), a companys subsidiary, for increasing stake of the company in DDCN from 51% to 88.57%. The company has purchased equity stake from the existing shareholders of DDCN and acquisition was completed on 6 March 2017.

DDCN is carrying on business of distribution of cable business in the territory of Gurugram in Haryana. It will help to consolidated business of the company in Haryana and controlling the entity.

The cost of acquisition of stake is Rs 4.60 crore. DDCN had annual sales of Rs 10.29 crore as on 31 March 2016 (FY 2016).

Den Networks reported consolidated net loss of Rs 45.10 crore in Q3 December 2016 compared with consolidated net loss of Rs 87.39 crore in Q3 December 2015. Net sales rose 30.3% to Rs 286.83 crore in Q3 December 2016 over Q3 December 2015.

Den Networks is Indias leading cable TV distribution company.

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Adani Power jumps about 9% in three sessions
Mar 07,2017

Meanwhile, the S&P BSE Sensex was down 55.19 points, 0.19% to Rs 28,993.

On the BSE, 28.25 lakh shares were traded on the counter so far as against the average daily volumes of 11.96 lakh shares in the past one quarter. The stock had hit a high of Rs 41.30 so far during the day, which is also 52-week high. The stock hit a low of Rs 39.15 so far during the day. The stock had hit a 52-week low of Rs 23.35 on 9 November 2016.

The large-cap company has equity capital of Rs 3732.86 crore. Face value per share is Rs 10.

Shares of Adani Power have risen 8.97% in three trading sessions from its close of Rs 36.80 on 2 March 2017.

Adani Power reported consolidated net loss of Rs 323.61 crore in Q3 December 2016, compare with the net profit of Rs 109.49 crore in Q3 December 2015. Net sales decline 6.15% to Rs 5803.52 crore in Q3 December 2016 over Q3 December 2015.

Adani Power is the largest private thermal power producer in India with an installed capacity of 10,480 MW.

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Cabinet approves development of 50 un-served and under-served air strips
Mar 07,2017

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi has approved the proposal for revival of 50 un-served/under-served airports/airstrips of the State Governments, Airports Authority of India (AAI) and Civil enclaves in three financial years starting from 2017-18.

The total cost of the project is estimated to be Rs. 4500 crore. 15 airports/airstrips each would be revived during 2017-18 and 2018-19 each while 20 airports/airstrips would be revived during 2019-20.

As an outcome of the approval, small cities/towns shall be connected on commencement of operation of flights to under-served/un-served airports. It will further boost the economic development in these areas as well as surrounding areas in terms of job creation and related infrastructure development.

The Revival of airstrips/airports will be demand driven, depending upon firm commitment from airline operators as well as from the State Governments for providing various concessions as Airports will be developed without insisting on financial viability.

The announcement for making adequate provisions for revival of unserved and underserved airports was made by the Finance Minister in Union Budget 2016-17.

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Bombay Burmah Trading Corporation to acquire additional stake in Bomaby Dyeing & Manufacturing Company
Mar 07,2017

Bombay Burmah Trading Corporation announced that the Finance Committee of Board of Directors of the Corporation at its meeting held on 06 March 2017 has proposed the Corporation to acquire additional shares in Bombay Dyeing & Manufacturing Company directly or through its wholly owned subsidiary, as part of internal restructuring of promoters holdings in Bombay Dyeing & Manufacturing Company.

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Regency Trust announces change in company secretary
Mar 07,2017

Regency Trust announced that Rebecca Nevis, Company Secretary of the Company had tendered her resignation with effect from February 28, 2017 for better prospect and the Company has now appointed Naina Kanagat as Company Secretary of the Company with effect from 07 March 2017.

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Tata Motors gains after luxury car making unit reports good sales in February
Mar 07,2017

The announcement was made during market hours today, 7 March 2017.

Meanwhile, the BSE Sensex was down 43.60 points, or 0.15%, to 29,004.59.

On the BSE, 2.15 lakh shares were traded in the counter so far, compared with average daily volumes of 5.59 lakh shares in the past one quarter. The stock had hit a high of Rs 475.80 and a low of Rs 466.60 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016. The stock had hit a 52-week low of Rs 336.40 on 9 March 2016.

The stock had underperformed the market over the past one month till 6 March 2017, falling 10.39% compared with 2.14% rise in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 6.65% as against Sensexs 10.06% gains.

The large-cap auto major has equity capital of Rs 577.47 crore. Face value per share is Rs 2.

Jaguar Land Rover (JLR), the UKs leading manufacturer of premium luxury vehicles and wholly owned subsidiary of Tata Motors has achieved its best ever February sales performance in 2017. JLRs total retail sales rose 9.3% to 40,978 vehicles in February 2017 over February 2016, primarily driven by continuing strong sales of the Jaguar F-PACE, XE, Land Rover Discovery Sport, Range Rover and Evoque with sales of the all new Land Rover Discovery now also under way.

By region, Jaguar Land Rovers global retail sales performance for February showed growth in China (40.4%), North America (16.2%) and the UK (14.2%) but down slightly in Europe (1.6%) and in other overseas markets (6.5%).

Jaguar retail sales jumped 81.1% to 12,203 vehicles in February 2017 over February 2016, driven by the ongoing success of the Jaguar F-PACE as well as solid sales of XE.

Land Rover retail sales fell 6.4% to 28,775 vehicles in February 2017 over February 2016, primarily reflecting the run-out of the Land Rover Defender and Discovery which was only partially offset by the introduction of the all-new Land Rover Discovery and continuing solid sales of the Discovery Sport, Range Rover and Range Rover Evoque.

Tata Motors consolidated net profit fell 96.2% to Rs 111.57 crore on 2.2% decline in net sales to Rs 66855.18 crore in Q3 December 2016 over Q3 December 2015.

Tata Motors is a market leader in commercial vehicles in India. The companys British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.

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Tata Motors announces Jaguar Land Rover sales performance
Mar 07,2017

Tata Motors announced that Jaguar Land Rover has achieved its bestever February sales performance in 2017, with total retail sales of 40,978 vehicles, up 9.3% on the prior year, primarily driven by continuing strong sales of the Jaguar F-PACE, XE, Land Rover Discovery Sport, Range Rover and Evoque with sales of the all new Land Rover Discovery now alsounder way.

By region, Jaguar Land Rovers global retail sales performance for February showed growth in China (40.4%), North America (16.2%) and the UK (14.2%) but down slightly in Europe (1.6%) and in otheroverseas markets (6.5%).

Jaguar retail sales were 12,203 vehicles, up 81.1%, compared to February 2016, driven by the ongoing success of the Jaguar F-PACE as well as solid sales of XE.

Land Rover retailed 28,775 vehicles in February 2017, down 6.4% compared to February 2016, primarily reflecting the run-out of the Land Rover Defender and Discovery which was only partially offset by the introduction of the all-new Land Rover Discovery and continuing solid sales of the Discovery Sport, Range Rover and Range Rover Evoque.

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