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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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Intense Technologies to hold board meeting
Mar 03,2017

Intense Technologies will hold a meeting of the Board of Directors of the Company on 6 March 2017, for allotment of shares pursuant to exercise of stock options under the Companys Intense ESOP Scheme A 2009.

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NMDC to hold board meeting
Mar 03,2017

NMDC will hold a meeting of the Board of Directors of the Company on 7 March 2017, to consider declaration of first interim dividend for the financial year 2016-17

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Dynacons Systems & Solutions to hold EGM
Mar 03,2017

Dynacons Systems & Solutions announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 29 March 2017 .

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Structural Changes Required to Reboot Real Estate Sector in FY18
Mar 03,2017

India Ratings and Research (Ind-Ra) has maintained a negative outlook on the real estate sector for FY18, based on the expectation of a continued slump in the sale of residential units. This will result in continued negative cash flows and a further increase in already-high debt levels, resulting in weakening of the sectors credit profile.

The sale of residential units has been falling since FY14 due to the continued high prices of residential units making them unaffordable to end-users and the significant delays in the completion of under construction projects (sometimes by even more than three years), thus impacting consumer confidence in the sector. The sale of units to individuals who purchase residential units for investment purposes is also likely to be severely curtailed by the demonetisation exercise, the implementation of the Prohibition of Benami Transactions Act and the proposal to restrict set-off of loss on rented properties against other income heads introduced in the union budget 2017-2018.

The continued fall in sales is likely to curtail liquidity, which will be further impacted by the likely implementation of the Real Estate (Regulation and Development) Act, 2016 during 1HFY18. While the sector has largely relied on refinancing to meet its debt servicing obligations, Ind-Ra believes refinancing will increasingly become difficult with revival in sales unlikely.

Ind-Ra believes that the sector needs to undergo a structural change in the way it does business to revive itself and move towards a model of unit sales post completion of projects. Such a structure would favour large organised real estate companies having better access to institutional funding and lead to consolidation in the sector. However, a single window system for time-bound approvals is imperative for the success of any such structural changes in the system and for the sectors long-term survival and growth.

OUTLOOK SENSITIVITIES

Improvement in Demand: A price correction and the consequent revival in consumer demand, resulting in a positive free cash flow and a reduction in debt levels could result in a stable outlook for the sector.

Asset Monetisation: Sale of land and commercial property assets, leading to a substantial reduction in debt levels could be a positive driver for issuer ratings.

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Bharti Infratel jumps on reports of brokerage upgrade
Mar 03,2017

Meanwhile, the S&P BSE Sensex was down 28.67 points or 0.1% at 28,811.12.

On the BSE, 6.03 lakh shares were traded on the counter so far as against the average daily volumes of 2.28 lakh shares in the past one quarter. The stock had hit a high of Rs 310 and a low of Rs 293 so far during the day.

The stock had hit a 52-week high of Rs 412.55 on 28 July 2016 and a 52-week low of Rs 283.10 on 28 February 2017. It had underperformed the market over the past one month till 2 March 2017, sliding 0.79% compared with the Sensexs 2.17% rise. The scrip had also underperformed the market over the past one quarter, declining 24.9% as against the Sensexs 9.95% rise.

The large-cap company has equity capital of Rs 1849.61 crore. Face value per share is Rs 10.

The foreign brokerage reportedly feels that with recent sharp correction in Bharti Infratel stock, risks related to tenancy impact due to likely Vodafone-Idea merger are overdone now. These merger & acquisition (M&A) deals in telecom space would be a positive catalyst for Bharti Infratels growth and strengthen its position in the tower space in India, as per the brokerages view.

Shares of Bharti Infratel declined 10.1% at its closing price of Rs 289.90 yesterday, 2 March 2017, from its closing of Rs 322.40 on 15 February 2017.

On a consolidated basis, Bharti Infratels net profit rose 25.3% to Rs 620.40 crore on 9.6% growth in net sales to Rs 1530 crore in Q3 December 2016 over Q3 December 2015.

Bharti Infratel is one of the leading providers of tower and related infrastructure. It deploys, owns and manages telecom towers and communication structures, for various mobile operators.

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Nalco jumps 17.14% in six sessions
Mar 03,2017

The announcement was made after market hours yesterday, 2 March 2017.

The stock has jumped 17.14% to its current ruling price of Rs 75.85 in six sessions, from a close of Rs 64.75 on 22 February 2017.

Meanwhile, the S&P BSE Sensex was down 55.43 points or 0.19% at 28,784.36.

On the BSE, 4.73 lakh shares were traded in the counter so far as against average daily volume of 5.96 lakh shares in the past one quarter. The stock had hit a high of Rs 77.05 and a low of Rs 74.50 so far during the day. The stock had hit a 52-week high of Rs 79.35 on 27 January 2017. The stock had hit a 52-week low of Rs 32.95 on 2 March 2016.

It had underperformed the market over the past one month till 2 March 2017, gaining 2.03% compared with the Sensexs 2.17% rise. The scrip had, however, outperformed the market over the past one quarter, advancing 38.84% as against the Sensexs 9.95% rise.

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

Similarly, the hydrate production at its refinery has also registered an increase of 6.8%. The hydrate production till February 2017 was 18.9 lakh tonnes as against 17.7 lakh tonnes for the same period in the previous year. At its aluminium smelter, cast metal production grew by 3.79% and the aluminium metal sales grew by 2.68%.

Separately, the companys board of directors has approved payment of interim dividend of Rs 2.80 per share for the financial year ending 31 March 2017. The announcement was made after market hours yesterday, 2 March 2017.

Meanwhile, as per recent reports, China had ordered aluminium and steel producers in 28 cities to slash output during winter, as Beijing intensifies its war on smog.

Nalcos net profit fell 2.7% to Rs 143.92 crore on 13.9% rise in net sales Rs 1963.81 crore in Q3 December 2016 over Q3 December 2015.

State-run National Aluminium Company (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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Increasing Insurance Coverage to Drive Growth of Corporate Healthcare Sector
Mar 03,2017

India Ratings and Research (Ind-Ra) has maintained a stable outlook for the corporate healthcare sector for FY18, based on expectations of continued stable revenue growth. Profit margins will continue to be impacted by expansion plans across the sector owing to long breakeven periods for new facilities.

Ind-Ra expects the sector to register stable revenue growth of about 15% for FY18, driven by the completion of new facilities and aided by strong growth in health insurance coverage. The growth in health insurance coverage (28.9% CAGR over FY14-FY16) is positive for the sector, as it increases the addressable market size. However, the majority of this growth was from government schemes; this is a concern due to lower profitability on procedures covered by such schemes and longer collection periods involved.

EBITDA margins and cash flow margins of companies operating in the sector will remain under pressure due to initial losses or lower profitability during the ramp-up phase of new facilities. Free cash flow (FCF) will continue to be negative due to expansion plans across the sector over the next three years.

Ind-Ra believes that large corporate hospital chains would attract patients to their facilities (old and new) on account of their established brands and ability to attract reputed doctors. Hence, the sector will continue to witness significant interest from private equity and strategic foreign investors, looking at leveraging the established brands of regional or sub-regional players to create strong national or regional chains. Ind-Ra believes that companies would increasingly rely on acquisitions to enter new cities, given the availability of capital.

OUTLOOK SENSITIVITIES

Positive FCF: Significant improvement in revenue and profits due to the successful ramp-up of new facilities, leading to positive FCF could result in a positive sector outlook.

Delay in Ramp-up: Ambitious debt-funded capex and stressed profitability due to low occupancy or cost and time overruns in ongoing capex could result in a negative outlook.

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Apollo Hospitals Enterprise leads losers on BSEs A group
Mar 03,2017

Apollo Hospitals Enterprise shed 4.48% to Rs 1,257 on reports of stake sale by a Malaysian sovereign fund. The stock topped the losers in A group. On the BSE, 6.38 lakh shares were traded on the counter so far as against the average daily volumes of 12,000 shares in the past two weeks.

Media reports suggested that Khazanah Berhads subsidiary Integrated (Mauritius) Healthcare Holdings offloaded shares of Apollo Hospitals Enterprise through block deals on the stock exchanges today, 3 March 2017. Integrated (Mauritius) Healthcare Holdings owned 10.85% stake in Apollo Hospitals Enterprise end December 2016.

Jain Irrigation Systems fell 3.3% at Rs 89.30. The stock was the second biggest loser in A group. On the BSE, 3.4 lakh shares were traded on the counter so far as against the average daily volumes of 3.03 lakh shares in the past two weeks.

Amtek Auto fell 3.05% at Rs 36.50. The stock was the third biggest loser in A group. On the BSE, 2.4 lakh shares were traded on the counter so far as against the average daily volumes of 7.55 lakh shares in the past two weeks.

NCC declined 2.84% at Rs 78.70. The stock was the fourth biggest loser in A group. On the BSE, 2.4 lakh shares were traded on the counter so far as against the average daily volumes of 7.55 lakh shares in the past two weeks.

Bajaj Finserv dropped 2.7% at Rs 3,783.15. The stock was the fifth biggest loser in A group. On the BSE, 7,239 shares were traded on the counter so far as against the average daily volumes of 18,000 shares in the past two weeks.

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Volumes jump at Geometric counter
Mar 03,2017

Geometric clocked volume of 10.15 lakh shares by 13:46 IST on BSE, a 132.51-times surge over two-week average daily volume of 8,000 shares. The stock was up 0.75% at Rs 262.75.

Apollo Hospitals Enterprise notched up volume of 6.37 lakh shares, a 52.55-fold surge over two-week average daily volume of 12,000 shares. The stock was down 4.51% at Rs 1,256.50.

Vista Pharmaceuticals saw volume of 25.74 lakh shares, a 24.34-fold surge over two-week average daily volume of 1.06 lakh shares. The stock surged by its upper circuit limit of 20% at Rs 30.90.

Dhampur Sugar Mills clocked volume of 3.34 lakh shares, a 5.52-fold surge over two-week average daily volume of 60,000 shares. The stock jumped 10.53% at Rs 205.75.

Dwarikesh Sugar Industries saw volume of 2.29 lakh shares, a 5.35-fold rise over two-week average daily volume of 43,000 shares. The stock was up 7.48% at Rs 427.50.

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PTC India announces cessation of nominee director
Mar 03,2017

PTC India announced that Jayant Kumar, Nominee Director of NHPC (DIN - 03010235), has ceased to be a Director on the Board of PTC India w.e.f 01-03-2017 consequent upon his superannuation from NHPC.

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Board of Southern Online Bio Technologies decides to shut down subsidiary in UAE
Mar 03,2017

The Board of Directors of the Southern Online Bio Technologies in its meeting held on 3 March 2017 inter alia has decided to shut down its operations of Marvel Bio Oil FZE, Sharjah, UAE, a 100% subsidiary of the company.

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Apollo Hospitals drops on reports of stake-sale by a foreign fund
Mar 03,2017

Meanwhile, the S&P BSE Sensex was down 85 points or 0.29% at 28,754.79.

On the BSE, 6.10 lakh shares were traded on the counter so far as against the average daily volumes of 9,335 shares in the past one quarter. The stock had hit a high of Rs 1,288 and a low of Rs 1,246 so far during the day.

The stock had hit a record high of Rs 1,544 on 2 March 2016 and a 52-week low of Rs 1,110.75 on 26 December 2016. It had outperformed the market over the past one month till 2 March 2017, gaining 6.88% compared with the Sensexs 2.17% rise. The scrip had, however, underperformed the market over the past one quarter, advancing 9.65% as against the Sensexs 9.95% rise.

The large-cap company has equity capital of Rs 69.56 crore. Face value per share is Rs 5.

Media reports suggested that Khazanah Berhads subsidiary Integrated (Mauritius) Healthcare Holdings offloaded shares of Apollo Hospitals Enterprise through block deals on the stock exchanges today, 3 March 2017. Integrated (Mauritius) Healthcare Holdings owned 10.85% stake in Apollo Hospitals Enterprise end December 2016.

Apollo Hospitals net profit fell 40.5% to Rs 72.83 crore on 17.9% growth in net sales to Rs 1680.61 crore in Q3 December 2016 over Q3 December 2015.

Apollo Hospitals is one of Asias largest healthcare groups.

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Excel Crop Care gets revision in credit ratings for bank facilities
Mar 03,2017

Excel Crop Care announced that CRISIL has upgraded its Long Term Rating in relation to the Companys Bank Facilities aggregating Rs. 200 crore from existing CRISIL A+/Positive to CRISIL AA-/Stable.

The short term rating in relation to the said bank facilities continue to be CRISIL A1+.

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Dhanlaxmi Bank announces cessation of director
Mar 03,2017

Dhanlaxmi Bank announced that the term of office of Susobhan Sinha, who was nominated by RBI to the Board as an Additional Director with effect from 02 March 2015, has come to an end on 01 March 2017

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Equitas Holdings intimates ratings assigned for Deposits programme of subsidiary
Mar 03,2017

Equitas Holdings announced that CRISIL has assigned CRISIL A1+ (pronounced as CRISIL A one plus) rating on Rs. 1000 crore Certificate of Deposits Programme of the Subsidiary Company, Equitas Small Finance Bank.

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