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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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Board of Mahindra & Mahindra approves change in directorate
Nov 11,2016

Mahindra & Mahindra announced that the recommendation of the Governance, Nomination and Remuneration Committee, the Board of Directors of the Company at its Meeting held on 11 November 2016, has

1. Designated and appointed Anand Mahindra, who currently holds the position of Chairman and Managing Director, as Executive Chairman for a period of 5 (Five) years with effect from12 November 2016 upto and including 11 November 2021; subject to approval of the Shareholders;and

2. Appointed Pawan Goenka who currently holds the position of Executive Director and Group President (Auto and Farm Sector), as Managing Director for a period of 4 (Four) years from 12 November 2016 upto and including 11 November 2020; subject to approval of the Shareholders.

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Mahindra & Mahindra appoints director
Nov 11,2016

Mahindra & Mahindra announced that the Board of Directors of the Company at its Meeting held on 11 November 2016, has approved the appointment of T. N. Manoharan, as an Additional Director of the Company who would be an Independent Director, with effect from 11 November 2016.

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Alkem Lab declines as bottom line growth lags growth in top line in Q2
Nov 11,2016

The result was announced during market hours today, 11 November 2016.

Meanwhile, the S&P BSE Sensex was down 592.75 points or 2.15% at 26,924.93.

On BSE, so far 12,000 shares were traded in the counter as against average daily volume of 5,704 shares in the past two weeks. The stock hit a high of Rs 1,680 and a low of Rs 1,568.20 so far during the day. The stock had hit a record high of Rs 1,852.95 on 29 September 2016. The stock had hit a record low of Rs 1,175 on 2 May 2016.

The large-cap company has equity capital of Rs 23.91 crore. Face value per share is Rs 2.

The companys earnings before interest, taxation, depreciation and amortization (EBITDA) rose 21.5% to Rs 310.50 crore in Q2 September 2016 over Q2 September 2015. EBITDA margin improved to 18.9% in Q2 September 2016, from 18.5% in Q2 September 2015.

Commenting on the companys performance, Prabhat Agrawal, CEO, Alkem, said the company has delivered a robust growth in its India business largely driven by strong execution of its market strategies. The companys international business too delivered a healthy growth during the quarter mainly driven by its US business, he said. Alkems ongoing efforts towards margin improvement also are yielding results as evident from year on year (YoY) improvement in its gross and EBITDA margins despite the regulatory price cuts, Agrawal said. Alkem looks forward to build on this momentum, he added.

Alkem Laboratories is a pharmaceutical company with global operations, engaged in the development, manufacture and sale of pharmaceutical and nutraceutical products.

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Dr Reddys Laboratories launches Raloxifene Hydrochloride Tablets, 60 mg
Nov 11,2016

Dr Reddys Laboratories has launched Raloxifene Hydrochloride Tablets in 60 mg, a therapeutic equivalent of generic verion of Evista tablets in United States market, approved by USFDA. The tablets are available in bottle count sizes of 30,100 and 1000.

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Navneet Education fixes record date for buyback of shares
Nov 11,2016

Navneet Education has fixed 25 November 2016 as the Record Date for the purpose of Buyback of Equity Shares.

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APM Industries to pay interim dividend for FY 2017
Nov 11,2016

APM Industries announced that Interim Dividend @ Rs. 1.50 per equity share (i.e. 75%) on face value of Rs. 2.00/- per share for the Financial Year 2016-2017 will be paid on or after 28 November 2016.

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Board of APM Industries declares interim dividend
Nov 11,2016

APM Industries announced that the Board in its meeting held on 11 November 2016 has declared an Interim Dividend @ Rs. 1.50 per equity share (i.e. 75%) on face value of Rs. 2.00/- per share for the Financial Year 2016-2017.

The payment of dividend will be made on or after 28 November 2016.

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Board of BLS International Services approves interim divided
Nov 11,2016

BLS International Services announced that the Board of Directors of the Company at its meeting held on 11 November 2016, have considered & approved the following items:

1. Approved Appointment of Sarthak Behuria as an Additional Director of the Company in the nature of Independent Director of the Company, w.e.f. 11 November 2016.

2. Approved payment of Interim Dividend @ Re. 0.50 per share (Face Value Rs. 10/- per share) (i.e. 5%).

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Alkem Laboratories to pay interim dividend for FY 2017
Nov 11,2016

Alkem Laboratories announced that Interim Dividend of Rs. 6/-per equity share on the face value of Rs. 2/- per share for the financial year 2016-17 shall be paid on & from 28 November 2016.

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Board of Alkem Laboratories declares interim dividend
Nov 11,2016

Alkem Laboratories announced that the Board of Directors of the Company at its meeting held on 11 November 2016, have declared Interim Dividend of Rs. 6/-per equity share on the face value of Rs. 2/- per share for the financial year 2016-17. The date of payment of Interim dividend shall be on & From 28 November 2016.

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Board of Gabriel India declares interim dividend
Nov 11,2016

Gabriel India announced that the Board of Directors of the Company at its meeting held on 11 November 2016, inter alia, have declared an interim dividend of Re. 0.45 per Equity share of face value of Rs. 1/- each.

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Board of Ambika Cotton Mills approves buyback of shares
Nov 11,2016

Ambika Cotton Mills announced that the Board of Directors of the Company at its meeting held on 11 November 2016, has accorded its approval for the buy-back of 1,50,000 Equity Shares of face value Rs. 10 each , from all shareholders of the Company except promoters, promoter group, persons in control and persons acting in concert at a price not exceeding Rs. 1100 (Rupees One thousand One hundred only) per Equity Share (Maximum Buyback Price) excluding transaction cost, such as brokerage, transactional charges and taxes, if any, (Transaction Cost, for an aggregate amount of Rs. 16,50,00,000/- (Rupees Sixteen Crores Fifty Lakhs only) (Maximum Buyback Size), representing 4.92% of the aggregate of the total paid-up equity capital and free reserves of the Company based on the audited financial statements of the Company as on 31 March 2016.

Further, subject to provisions of Regulation 15B(8) of the SEBI Buyback Regulations, the Company proposes to buy-back 75,000 Equity Shares for a minimum of Rs. 8,25,00,000 (Rupees Eight Crores Twenty Five Lakhs only), being [50]% of the Maximum Buyback Size (Minimum Buyback Size).

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M&M extends losses on plans of subscribing to proposed rights issue of subsidiary
Nov 11,2016

The announcement was made during market hours today, 11 November 2016.

Meanwhile, the S&P BSE Sensex was down 519.96 points or 1.89% at 26,997.72.

More than usual volumes were witnessed on the counter. On BSE, so far 2.28 lakh shares were traded in the counter as against average daily volume of 67,127 shares in the past one quarter. The stock hit a high of Rs 1,318 and a low of Rs 1,285 so far during the day. The stock had hit a record high of Rs 1,508.80 on 9 August 2016. The stock had hit a 52-week low of Rs 1,092 on 12 February 2016. The stock underperformed the market over the past one month till 10 November 2016, declining 4.12% compared with 2.01% fall in the Sensex. The scrip also underperformed the market in past one quarter, shedding 8.74% as against Sensexs 0.93% fall.

The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.

M&M said that the board of directors of the company approved investment of an amount not exceeding Rs 165 crore, in one or more tranches by subscribing to the proposed rights issue of Mahindra Lifespace Developers (MLDL). MLDL, a listed subsidiary of M&M on 27 October 2016 had said that its board approved raising funds by rights issue aggregating to Rs 300 crore.

Shares of MLDL shed 1.89% to Rs 406.45.

Separately, M&Ms net profit rose 27.08% to Rs 1163.27 crore on 16.98% rise in total income to Rs 12071.13 crore in Q2 September 2016 over Q2 September 2015. M&Ms combined net profit of M&M and Mahindra Vehicle Manufacturers Limited (MVML) rose 29% to Rs 1253 crore on 18% increase in gross revenue and other income to Rs 12049 crore in Q2 September 2016 over Q2 September 2015. The result was announced during market hours today, 11 November 2016.

MVML was set up as a 100% subsidiary of M&M with a view to sourcing contemporary products for expanding the market offerings of the company. Hence it is a critical part of M&Ms business and only the combined results of M&M and MVML (combined entity) can provide a comprehensive view of the companys performance.

M&M in its outlook said that Indias macro economic story is slowly but surely taking shape although data on industrial production and slow trade growth continued to act as ceilings to Indias growth. The IMF avers that in the current n++ and projected n++ global scenario, India will continue to standout with the fastest growth rate. And this prognosis is not without reason. After two years of sub-par rainfall, this years monsoon has been abundant and well spread which will help revive farm income and push up private consumption. The first advance estimates released by the agriculture ministry for kharif crops this year suggests a record output, higher by 9%. Higher soil moisture due to good monsoon also augurs well for the Rabi crop. Higher crop output will help improve spends on agri-inputs and services. Moreover, prices of key agricultural inputs have stabilized which signals that farmer balance sheets are on the mend now and this will help revive the overall rural economy.

Importantly, there is discernible traction on reforms including GST which augurs well for Indias growth trajectory. Moreover, there are signs of demand recovery manifesting through broader consumption pick-up in growth rates in automobile sales, air passenger traffic and retail loans. The Seventh Pay Commission and the OROP scheme award has put money in the pockets of government employees and pensioners which will further help demand. The lagged effects of interest rate cuts by the Reserve Bank of India (RBI) along with the increased transmission of lower interest rates will also be supportive of consumption. All of these bode well for broad-based consumption led growth in the coming quarters, M&M added.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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Alkem Laboratories fixes record date for interim dividend
Nov 11,2016

Alkem Laboratories has fixed 24 November 2016 as the Record Date for the purpose of Payment of Interim Dividend.

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Board of Navneet Education approves buyback of shares upto Rs 58.21 crore
Nov 11,2016

Navneet Education announced that the Board of Directors of the Company at its meeting held on 11 November 2016, has approved the buyback up to 46,57,000 fully paid-up equity shares of face value of Rs. 2 (Rupees Two Only) each of the Company (Equity Shares) representing up to 1.95% of the total Fully Paid-up Equity Share Capital of the Company at a price of Rs. 125/- (Rupees One Hundred and Twenty Five only) per Equity Share (Buyback Price) (including premium of Rs. 123/- per Equity Share) payable in cash for an aggregate amount of up to Rs. 58,21,25,000 (Rupees Fifty Eight Crores Twenty One Lacs Twenty Five Thousand Only) (excluding companys transaction costs viz. brokerage, securities transaction tax, service tax, stamp duty, etc.) (Buyback Size), which is 9.27% of the fully paid-up equity share capital and free reserves as per the latest audited balance sheet of the Company for the financial year ended 31 March 2016 on a proportionate basis through the tender offer as prescribed under the Buyback Regulations, to all of the shareholders/beneficial owners who hold Equity Shares as of a Record Date (as defined below) .

The Buyback Size does not include any expenses incurred or to be incurred for the Buyback like filing fees payable to the Securities and Exchange Board of India, fees and charges payable to Stock Exchanges, public announcement publication expenses, printing and dispatch expenses and other incidental and related expenses.

Members of the Promoter and Promoter Group of the Company have indicated their intention to participate in the proposed buyback.

The public announcement setting out the process, timelines and other requisite details will be released in due course in accordance with the Buyback Regulations. The Company has formed a Buyback Committee to do all such acts, deeds, matters and things as it may, in its absolute discretion, deem necessary, expedient, usual or proper in connection with the proposed buyback.

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