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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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Wheels India gets upgradation in credit ratings
Dec 02,2016

Wheels India announced that the Credit Rating Agency ICRA , has upgraded the rating on short term borrowings to [ICRA]A1+ (pronounced ICRA A one plus) from [ICRA]A1 (pronounced ICRA A one).

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Zensar Technologies launches The Vinci, Intelligent Managed Services Platform
Dec 02,2016

Zensar Technologies announced that they will be launching The Vinci, Intelligent Managed Services Platform at Gartners Data Center, Infrastructure & Operations Management Conference 4-8 December at The Venetian, Las Vegas. The platform is powered by automation, autonomics and orchestration, utilizing machine learning. The Vinci brings together the management of operational and transformational activities to enable to significantly reduce OPEX cost as well as track in real time their business and operational efficiencies.

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Grasim Industries allots equity shares
Dec 02,2016

Grasim Industries announced that the Stakeholders Relationship Committee of the Board of Directors of the Company has approved allotment of 13,000 Equity shares of Rs. 2 each of the Company upon exercise of stock options and restricted stock units under the Companys Employee Stock Option Scheme, 2006 and Employee Stock Option Scheme, 2013.

These shares shall rank pari passu with the existing equity shares of the Company in all respects and shall be subject to the provisions of the Memorandum and Articles of Association of the Company.

Consequent to the above allotment, the equity share capital of the Company stands increased to 46,67,97,060 equity shares of Rs. 2 each aggregating to Rs. 93,35,94,120.

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Schrader Duncan renamed as Duncan Engineering
Dec 02,2016

Schrader Duncan announced that the Registrar of Companies, Pune has given a fresh certificate of Incorporation dated 01 December 2016 in consequence to change of name of the Company from Schrader Duncan to Duncan Engineering and consequent alteration in Memorandum & Articles of Association.

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K E C International secures new orders
Dec 02,2016

K E C International has secured orders worth Rs 840 crore. These include -

Transportion and Distribution Business - Rs 723 crore
Cables Business - Rs 117 crore.

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Purple Entertainment announces resignation of director and company secertary
Dec 02,2016

Purple Entertainment announced that there has been change in the management of the Company as Nishant Naveen Jhajharia (Director) & Sonali Panchal (Company Secretary) has resigned from the office last day, i.e. 01 December 2016 and are no longer be associated further.

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Omaxe to announce September quarter and half year results
Dec 02,2016

Omaxe announced that a meeting of the Board of Directors of the Company is scheduled to be held on 13 December 2016, inter alia, to consider and approve the Standalone and Consolidated Unaudited Financial Results of the Company for the Quarter and Half Year ended 30 September 2016 at the recommendation of the Audit Committee which will consider the results in its meeting scheduled to be held on the same day, prior to the Board Meeting.

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Debt Servicing Intact for 70% Toll Roads in Ind-Ras Portfolio, Despite Toll Suspension
Dec 02,2016

The suspension of tolling on all national highways in the country since 9 November 2016 is unlikely to impair the debt servicing of 70% of the operational toll projects in India Ratings and Researchs (Ind-Ras) portfolio. The anticipated shortfall for all these projects in interest servicing is likely to be INR854m, against which their cash debt service reserve account (DSRA) balance is INR3.88bn along with cash balance of INR884mn, which will provide a sufficient buffer.

Timely servicing of debt will be ensured by the surplus cash balances that some of these projects have. In certain cases where the sponsor has been supporting regular debt service, the agency assumes that such support will continue even for the period for which the road is not tolled. The management and the sponsors have also confirmed for majority of the projects, the support will continue. However, if the embargo on tolling continues beyond 2 December 2016, some projects debt serviceability can be impaired.

Ind-Ra believes that as per the provisions of the concession agreement, the non-collection of toll which is a directive of the Ministry of Road Transport and Highways could be construed as a Force Majeure event. Ind-Ra believes that on account of suspension of tolling, the concession period could be extended for a period equal to the length of the period for which toll could not be collected. Further, according to the concession agreement, Force Majeure costs shall include interest on debt, operations and maintenance costs and all other costs directly attributable to the Force Majeure event but shall not include any debt repayments payable by the SPV. The details of quantum and timelines for the possible reimbursement from National Highways Authority of India (NHAI, IND AAA/Stable) are awaited.

Ind-Ra has analysed the toll road projects under its coverage and the agency believes that majority of the projects will be able to service their debt timely, thanks to the sponsors implicit commitments. In some cases the DSRA is unlikely to even be tapped and support from the sponsor / surplus cash balance are the most likely options. While some of the projects debt service is already depending on sponsors support, Ind-Ra will monitor the events and take necessary action in the event the sponsors fail to infuse funds to maintain the timely debt serviceability of the projects.

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Weak Q2 earnings weigh on IL&FS Transportation
Dec 02,2016

The result was announced during market hours today, 2 December 2016.

Meanwhile, the S&P BSE Sensex was down 325.76 points or 1.23% at 26,234.16.

On the BSE, 2.05 lakh shares were traded on the counter so far as against the average daily volumes of 3.47 lakh shares in the past one quarter. The stock had hit a high of Rs 101.75 and a low of Rs 95.20 so far during the day.

The stock had hit a 52-week high of Rs 117.15 on 26 October 2016 and a 52-week low of Rs 64 on 26 February 2016. It had underperformed the market over the past one month till 1 December 2016, sliding 7.53% compared with the Sensexs 4.72% fall. The scrip had, however, outperformed the market in past one quarter, advancing 40.99% as against the Sensexs 6.56% fall.

The mid-cap company has equity capital of Rs 328.96 crore. Face value per share is Rs 10.

IL&FS Transportation Networks has grown into the largest BOT (build, operate and transfer) road assets owner in India.

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MOIL corrects on profit booking
Dec 02,2016

Meanwhile, the BSE Sensex was down 315.27 points, or 1.19%, to 26,244.65.

On the BSE, so far 1.44 lakh shares were traded in the counter, compared with average daily volumes of 87,905 shares in the past one quarter. The stock had hit a high of Rs 379.80 and a low of Rs 362 so far during the day.

The stock hit a 52-week high of Rs 394 on 1 December 2016. The stock hit a record low of Rs 180.10 on 12 February 2016. The stock had outperformed the market over the past 30 days till 1 December 2016, rising 0.61% compared with the 3.51% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 40.81% as against Sensexs 6.91% decline.

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

Shares of MOIL rose 25.85% in seven trading sessions to settle at Rs 380.20 yesterday, 1 December 2016, from its close of Rs 302.10 on 22 November 2016.

The stock rose 1.02% to settle at Rs 380.20 yesterday, 1 December 2016, after the company said it has increased prices of different grades of manganese ore, effective from 1 December 2016. The announcement was made during trading hours that day.

Prices of ferro grade ore have been hiked by 30%. Prices of SMGR grade and fines have been raised by 25% each and prices of chemical grade ore have been raised by 10%.

Price of elctrolyte manganese dioxide (EMD) has remain unchanged.

MOILs net profit declined 14.6% to Rs 41.47 crore on 32.1% rise in net sales to Rs 196.03 crore in Q2 September 2016 over Q2 September 2015.

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 11 October 2016).

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Pricol fixes record date for scheme of amalgamation
Dec 02,2016

Pricol announced that pursuant to the scheme, a meeting of the Committee of the Board of Directors of the Company is scheduled on 07 December 2016 to issue and allot to each shareholder of the amalgamating company, erstwhile Pricol whose name is recorded in the register of members of erstwhile Pricol on the Record Date 06 December 2016.

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Pricol provides update on scheme of amaglamation
Dec 02,2016

Pricol announced that pursuant to the scheme, a meeting of the Committee of the Board of Directors of the Company is scheduled on 07 December 2016 to issue and allot to each shareholder of the amalgamating company, erstwhile Pricol whose name is recorded in the register of members of erstwhile Pricol on the Record Date 06 December 2016.

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Outcome of board meeting of Mahabir Metallex
Dec 02,2016

The Board of Directors of Mahabir Metallex at its meeting held on 02 December 2016 has discussed the current day to day working of the Company and also considered financial position of the Company. The Board further decided to strengthen it.

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Board of Toheal Pharmachem to consider resignation of company secretary
Dec 02,2016

Toheal Pharmachem announced that a meeting of the Board of Directors of the Company will be held on 09 December 2016 to transact the following business:

1. To accept resignation of Company Secretary.

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Kaveri Seed Company to announces Q2 results
Dec 02,2016

Kaveri Seed Company announced that a meeting of the Board of Directors of the Company will be held on 13 December 2016, to consider amongst other items of Agenda the Un-Audited Financial Results of the Company for the Quarter and Half Year ended 30 September 2016 (Q2).

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