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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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CESC to pay interim dividend
Feb 15,2017

CESC announced that interim dividend for FY 2017 will be paid on and from 06 March 2017.

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KZ Leasing & Finance intimates of new website
Feb 15,2017

KZ Leasing & Finance has started maintaining its new functional Website namely www.kzgroup.in, which contains basic information about the listed entity.

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Transformers & Rectifiers India to hold EGM
Feb 15,2017

Transformers & Rectifiers India announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 10 March 2017 .

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MIRC Electronics to hold EGM
Feb 15,2017

MIRC Electronics announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 29 March 2017 .

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DLF slips after weak Q3 results
Feb 15,2017

The result was announced after market hours yesterday, 14 February 2017.

Meanwhile, the BSE Sensex was down 59.43 points, or 0.21%, to 28,279.88.

On the BSE, so far 7.36 lakh shares were traded in the counter, compared with average daily volumes of 11.58 lakh shares in the past one quarter. The stock had hit a high of Rs 143.75 and a low of Rs 139.40 so far during the day.

The stock hit a 52-week high of Rs 169.60 on 19 August 2016. The stock hit a 52-week low of Rs 83 on 25 February 2016.

The large-cap realty major has equity capital of Rs 356.80 crore. Face value per share is Rs 2.

DLFs consolidated earnings before interest, tax, depreciation and amortization (EBITDA) fell 30% to Rs 1078 crore in Q3 December 2016 over Q3 December 2015.

The performance in the last quarter was subdued as markets adjusted itself to new paradigm initiated by demonetization move. While demonetization is extremely positive for the company and the industry, it has had short term negative impact on secondary sales, which in turn has impacted primary off-take. The company expects this period of adjustment may continue for next few quarters till the time secondary market stabilizes and customers start to purchase new products, DLF said in a statement.

In the interim, the company said it continues to remain focused on execution and creation of finished inventory. With record deliveries of 11 million square feet (msf) in the first nine months of the fiscal, the residential projects under construction have come down to 19 msf.

Office leasing business continues to witness healthy traction, backed by expansion in services sector. The leasing rates exhibited growth in line with companys projections. Witnessing the demand in office leasing, company is aggressively building out two new office complexes - Gurgaon and Chennai. Retail Sales at the malls, where the company enjoys revenue share, did witness some temporary fall back. Almost all of the retailers, with the exception of few, are now experiencing normal sales momentum, DLF said.

The Union Budget 2017 focused on residential business by providing slew of measures - incentivizing affordable housing, lower interest rate for housing loan, higher disposable income in the hands of the customer, it said.

In a separate announcement, DLF said it has decided to extend the deadline for sale of 40% stake owned by its promoters in its rental arm DLF Cyber City Developers (DCCDL) to March 2018.

DLFs primary business is development of residential, commercial and retail properties. It has 269 msf of development potential with 27 msf of projects under construction.

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Deepak Nitrite drops after reporting weak Q3 earnings
Feb 15,2017

The result was announced after market hours yesterday, 14 February 2017.

Meanwhile, the S&P BSE Sensex was down 39.64 points, or 0.14%, to 28,299.67.

On the BSE, 28,000 shares were traded on the counter so far as against the average daily volumes of 59,256 shares in the past one quarter. The stock had hit a high of Rs 102.90 and a low of Rs 97 so far during the day.

The stock had hit a record high of Rs 134.25 on 9 September 2016 and a 52-week low of Rs 57 on 15 February 2016. The stock had outperformed the market over the past one month till 14 February 2017, advancing 4.28% compared with the Sensexs 4.04% rise. The scrip had, however, underperformed the market over the past one quarter advancing 3.75% as against the Sensexs 5.67% rise.

The small-cap company has equity capital of Rs 23.26 crore. Face value per share is Rs 2.

Deepak Nitrite is a multi-division and multi-product company. The companys portfolio is a wide spectrum of products with diverse applications ranging from agrochemicals, rubber, pharmaceuticals, paper, textile, detergent, colourants, and petrochemicals to speciality and fine chemicals.

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MOIL trims gains after declaring strong Q3 outcome
Feb 15,2017

The announcement was made after market hours yesterday, 14 February 2017.

Meanwhile, the S&P BSE Sensex was down 45.95 points or 0.16% at 28,293.36

On the BSE, 1.19 lakh shares were traded on the counter so far as against the average daily volumes of 91,399 shares in the past one quarter. The stock trimmed initial gains in volatile trade. The stock had hit a high of Rs 373.45 and a low of Rs 362.35 so far during the day. The stock had hit a 52-week high of Rs 429 on 12 January 2017 and a 52-week low of Rs 180.30 on 17 February 2016.

The mid-cap company has equity capital of Rs 133.19 crore. Face value per share is Rs 10.

MOIL produces and sells different grades of manganese ore. Government of India currently holds 75.58% stake in MOIL (as per the shareholding pattern as on 31 December 2016).

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Agreement between India and Croatia on Economic Cooperation
Feb 15,2017

Agreement between the Government of the Republic of India and the Government of the Republic of Croatia on Economic Cooperation was signed by Commerce and Industry Minister Smt. Nirmala Sitharaman, Government of India and Ms. Martina Dalic, Deputy Prime Minister and Minister of the Economy, Government of the Republic of Croatia on 14th February, 2017 in Zagreb, Croatia.

India and Croatia had earlier signed an Agreement on Trade and Economic Cooperation in September, 1994 with an aim to promote and develop bilateral trade and economic relations. The present Agreement between India and Croatia would be a step in continuity as the last one expired in November, 2009.

Indias bilateral trade with the Republic of Croatia during 2013-14, 2014-15 and 2015-16 were US$ 148.86 million, US$ 205.04 million and US$ 148.44 million respectively. The bilateral trade during the last three years has remained stable despite global slowdown.

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Ind-Ra: Bonds and Rupee to Witness Measured Weakness in FY18
Feb 15,2017

India Ratings and Research (Ind-Ra) expects overall yield curves to stay elevated. The expectation is against a backdrop of evolving unfavourable global conditions and limited role by the Reserve Bank of India (RBI). However, the agency believes that the banking sectors large appetite for government bonds will anchor interest rates in FY18. The 10-year benchmark government security yield is likely to stay within 6.50%-7.00% in 1HFY18 and 6.40%-7.00% in 2HFY18.

Neutral Monetary Policy Stance: Given the change in the RBIs monetary policy stance and pressure from global rate markets, Ind-Ra expects an extremely limited scope for a reduction in monetary policy rates in FY18. The agency expects a possible room for a 25bp cut during FY18.

Demonetisation: The demonetisation drive and the promotion of digital transactions by the government and the RBI will impact reserve money requirements. Increasing scope and role of digital transaction are likely to reduce the currency in circulation over the coming years. Currency accounts for about 80% of reserve money. Moreover, the banking system was flooded with a liquidity of over INR5 trillion. In such a scenario, the agency does not foresee any open market operation (purchase) in FY18 as per the base case.

Low Banking Credit Blessing in Disguise: Ind-Ra believes that in the absence of any significant pickup in bank credit, the banking sector will have a large appetite for investment in low-risk interest-bearing government bonds. Moreover, banks can invest a part of existing liquidity surplus in government bonds. The agency believes commercial banks could subscribe to INR3 trillion-INR3.5 trillion worth of government bonds.

High State Borrowings to Affect Corporate Bond Curve: State development bonds (SDLs) are close alternatives to corporate bonds. The agency believes that a sustained increase in SDLs would put pressure on the corporate bond curve.

Rupee to Gradually Weaken: The narrowing differential between global and domestic interest rates will keep the rupee trading with a depreciation bias through FY18. With the US Federal Reserve likely to hike interest rates and major central banks rationalising their policy stances, the rupees gradual depreciation trend is expected to continue through FY18, with the domestic currency edging lower towards INR69.5-70/USD by March 2018.

RBIs Calibrated Intervention Likely to Continue: Ind-Ra believes that while the RBI is unlikely to halt the rupees depreciation, the pace of movement will be calibrated.

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DLF provides update on CCPS sale transaction
Feb 15,2017

DLF announced that the Company had intimated on 08 October 2015 that the Board of Directors of the Company had approved the proposal for promoter group companies namely Rajdhani Investments & Agencies, Buland Consultants and Investments, Sidhant Housing and Development Company (n++CCPS Holdersn++) to sell 15,96,99,999 Cumulative Compulsorily Convertible Preference Shares (n++CCPSn++) of DLF Cyber City Developers (n++DCCDLn++) (which would result in 40% equity shareholding in DCCDL upon conversion of the CCPS) to unrelated third party investor(s) (the n++CCPS Sale Transactionn++) subject to certain conditions.

Since the conclusion of CCPS Sale Transaction may not consummate by 18 March 2017 which being the last date of conversion of CCPS, the CCPS Holders have conveyed to DCCDL and the Company that they are agreeable for extension in conversion of CCPS for one more year i.e., until 18 March 2018 at the existing dividend rate/coupon rate of 0.01% per annum. Accordingly, the Board based on the recommendations of the Audit Committee, accorded its consent for the said extension being the 100% equity shareholder of DCCDL.

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Gitanjali Gems provides update on subsidiary - Gitanjali Infratech
Feb 15,2017

Gitanjali Gems announced that Gitanjali Infratech, a wholly owned subsidiary of the Company has acquired 100% equity shares of Dynamic Infrazone for the purpose of setting up and developing Gems and Jewellery Park in the state of Orissa.

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Inox Wind Infrastructure Services issues NCDs aggregating Rs 195 crore
Feb 15,2017

Inox Wind Infrastructure Services, a wholly owned subsidiary of Inox Wind has issued and allotted rated, unlisted, secured, redeemable, non convertible debentures, aggregating Rs 195 crore. These NCDs have been issued on private placement basis.

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Inox Wind Infrastructure Services issues NCDs aggregating Rs 195 crore
Feb 15,2017

Inox Wind Infrastructure Services, a wholly owned subsidiary of Inox Wind has issued and allotted rated, unlisted, secured, redeemable, non convertible debentures, aggregating Rs 195 crore. These NCDs have been issued on private placement basis.

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Vivimed Labs in pink of health after strong Q3 result
Feb 15,2017

The result was announced after market hours yesterday, 14 February 2017.

Meanwhile, the S&P BSE Sensex was down 21.35 points, or 0.08%, to 28,317.96.

On the BSE, 5.39 lakh shares were traded on the counter so far as against the average daily volumes of 1.49 lakh shares in the past one quarter. The stock had hit a high of Rs 110.50 and a low of Rs 103 so far during the day.

The stock had hit a record high of Rs 121.15 on 4 October 2016 and a 52-week low of Rs 68 on 9 August 2016. The stock had underperformed the market over the past one month till 14 February 2017, declining 4.9% compared with the Sensexs 4.04% rise. The scrip had also underperformed the market over the past one quarter advancing 3.47% as against the Sensexs 5.67% rise.

The small-cap company has equity capital of Rs 16.20 crore. Face value per share is Rs 2.

Vivimed Labs is a niche specialty chemicals and pharmaceuticals company.

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Govt. should increase cyber security spending to match growing threat landscape: ASSOCHAM-PwC paper
Feb 15,2017

The government should sharply increase spending on cyber security to a level that matches the changing threat landscape, noted a paper jointly conducted by ASSOCHAM-PwC.

n++The government should allocate adequate budget for cyber security related initiatives such as capacity building, training of the workforce, implementing awareness programmes, and promoting research and development,n++ according to paper titled Recommendations - Cyber & network security, jointly conducted by ASSOCHAM and consulting firm PricewaterhouseCoopers (PwC).

It also suggested the industry to make budgets to expand efforts to attract and retain qualified cyber professionals.

n++It is important to take proactive measures rather than reactive methods as building safe environments will always be the best line of defence against rising cybercrime,n++ suggested the paper.

It said that government should look at developing comprehensive and mature security policies to ensure that emerging technologies such as cloud and Smart Cities are protected from cyber threats and risks, and help create a dynamic digital economy.

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