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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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Road and Railway to be exempted under the GST regime: ASSOCHAM plea to Govt.
Jun 20,2017

In view of the long gestation period and showing negative returns, industry body ASSOCHAM has suggested that infrastructure and transportation such as road and railway sectors should continue to be exempted under Goods and Services Tax (GST) regime.

In a note submitted to the Finance Ministry, ASSOCHAM has suggested that to avoid accumulation of input tax credit with the contractors, a similar exemption should be granted in GST on direct procurements made by the contractors for use in such projects. Further withdrawal of exemption on existing projects will have a negative impact on business revenues.

The Chamber says, alternative options should be provided in GST, such as Zero rating the Contract Value chain, in the event the current Exemptions are withdrawn, so as to protect the Infrastructure Projects from any additional tax burden.

The chamber spokesperson says, presently, highway toll collected from passengers and annuity amounts received from NHAI for construction and maintenance of highways is exempt from Service tax. While service by way of access to a road or a bridge on payment of toll charges has been specifically exempted in GST regime, exemption to similar income received in form of annuity from NHAI has not been provided. Essentially in case of annuity based project NHAI collects Toll charges and share Toll income in form of annuity.

Levy of GST on existing contracts with non-recoverable taxes from NHAI will have significant impact on revenue and therefore exemption should be accorded to annuity income as well.

As per contract with NHAI, concessionaire is required to a share a pre-defined percentage of income from toll collection with NHAI and there is no clarification whether sharing of such exempted income would be subject to GST. Since Toll income is exempt from GST, sharing of such income also should not attract GST.

It may be mentioned that currently the services provided to infrastructure project are exempted from service tax and wherever service tax is levied, works contract abatement is available and in VAT also abatement is available and the combined effective tax rate comes to 10% to 12% while the rate schedule released by GST council provides for 18% GST rate for Works contract services.

ASSOCHAM has strongly recommended that rate of GST should be retained at the current levels on the Goods and Services, on the existing projects in progress as any increase in existing tax cost will adversely impact the project financials, cash flow and margins, due to inability to pass on or recover such increased cost in the entire Contract value chain and GST rate on works contract services should be provided as 12% instead of 18%.

Similar rate structure has been provided by GST council for Construction of a complex, building, civil structure or a part thereof, intended for sale to a buyer, wholly or partly.

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Amtek Auto leads gainers on BSEs A group
Jun 20,2017

Amtek Auto jumped 7.46% at Rs 25.20 at 13:50 IST with the stock recovering on bargain hunting after recent slide. Shares of Amtek Auto had declined 30.52% in the preceding three trading sessions to settle at Rs 23.45 yesterday, 19 June 2017, from its closing price of Rs 33.75 on 14 June 2017.

The stock topped the gainers in A group. On the BSE, 34.46 lakh shares were traded on the counter so far as against the average daily volumes of 7.67 lakh shares in the past two weeks.

BEML rose 5.74% at Rs 1,523.85. The stock was the second biggest gainer in A group. On the BSE, 1.98 lakh shares were traded on the counter so far as against the average daily volumes of 53,000 shares in the past two weeks.

Gati rose 5.24% at Rs 131.50. The stock was the third biggest gainer in A group. On the BSE, 4.12 lakh shares were traded on the counter so far as against the average daily volumes of 58,000 shares in the past two weeks.

Jubilant Life sciences rose 4.25% at Rs 709.60. The stock was the fourth biggest gainer in A group. On the BSE, 1.35 lakh shares were traded on the counter so far as against the average daily volumes of 43,000 shares in the past two weeks.

Tata Power Company rose 4.04% at Rs 81.15. The stock was the fifth biggest gainer in A group. On the BSE, 6.95 lakh shares were traded on the counter so far as against the average daily volumes of 2.18 lakh shares in the past two weeks.

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Volumes jump at Nelco counter
Jun 20,2017

Nelco clocked volume of 5.79 lakh shares by 13:40 IST on BSE, a 30.56-times surge over two-week average daily volume of 19,000 shares. The stock was locked at 20% upper circuit at Rs 96.30.

Chembond Chemicals notched up volume of 2.09 lakh shares, a 30.49-fold surge over two-week average daily volume of 7,000 shares. The stock surged 5.75% at Rs 263.

3M India saw volume of 5,000 shares, a 27.37-fold surge over two-week average daily volume of 183 shares. The stock lost 0.17% at Rs 13,901.40.

Ramco Industries clocked volume of 3.36 lakh shares, a 9.38-fold surge over two-week average daily volume of 36,000 shares. The stock jumped 7.51% at Rs 256.35.

Goa Carbon saw volume of 13.04 lakh shares, a 8.16-fold rise over two-week average daily volume of 1.60 lakh shares. The stock spurted 11.68% at Rs 236.70.

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HCL Technologies launches a precompetitive Next Generation Research Platform
Jun 20,2017

HCL Technologies announced its Next Generation Research Platform, a pre-competitive drug discovery ecosystem built with open standards. This platform will provide research scientists with a collaborative ecosystem, greater computational resources, and the ability to mine research data to make more informed scientific decision, while improving productivity by automating and eliminating manual administrative tasks.

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Shankara Building moves north after appointing CEO
Jun 20,2017

The announcement was made after market hours yesterday, 19 June 2017.

Meanwhile, the S&P BSE Sensex was up 7.55 points or 0.02% at 31,319.12. The S&P BSE Small-Cap index rose 51.74 points or 0.33% at 15,705.71.

On the BSE, 43,000 shares were traded on the counter so far as against the average daily volumes of 87,000 shares in the past two weeks. The stock had hit a high of Rs 859.30 so far during the day, which is a record high. The stock hit a low of Rs 822.50 so far during the day. The stock had hit a record low of Rs 545 on 5 April 2017.

The small-cap company has equity capital of Rs 22.85 crore. Face value per share is Rs 10.

Siddhartha Mundra has been associated with Shankara Building Products since 2011 as a nominee director of Fairwinds Private Equity on board of directors of Shankara Building Products.

Shankara Building Products got listed on the stock exchanges on 5 April 2017.

On consolidated basis, Shankara Building Products net profit rose 10.9% to Rs 19.04 crore on 5.2% growth in net sales to Rs 600.39 crore in Q4 March 2017 over Q4 March 2016.

Shankara Building Products is one of the leading organized retailers of home improvement and building products in India based on number of stores, operating under the brand name Shankara Buildpron++.

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Pennar Industries to set up JV in United States
Jun 20,2017

Pennar Industries announced that the Executive Finance Committee of the Company at its meeting held on 20 June 2017 approved to set up a joint venture in United States to supply their goods and services.

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Gravita India advances after starting production of polypropylene
Jun 20,2017

The announcement was made during market hours today, 20 June 2017.

Meanwhile, the S&P BSE Sensex was up 27.36 points, or 0.09%, to 31,338.93. The S&P BSE Small-Cap index was up 70.90 points, or 0.45%, to 15,724.87.

On the BSE, 53,907 shares were traded on the counter so far as against the average daily volumes of 1.23 lakh shares in the past one quarter. The stock had hit a high of Rs 82 and a low of Rs 78.80 so far during the day. The stock had hit a 52-week high of Rs 89.05 on 18 May 2017. The stock had hit a record low of Rs 16 on 24 June 2016.

The stock had underperformed the market over the past one month till 19 June 2017, falling 5.91% compared with 2.78% rise in the Sensex. The scrip had outperformed the market in past one quarter, gaining 35.05% as against Sensexs 5.61% gains. The scrip had also outperformed the market in past one year, surging 359.48% as against Sensexs 17.6% gains.

The small-cap company has equity capital of Rs 13.70 crore. Face value per share is Rs 2.

Gravita India said that it has started commercial production of washed polypropylene by installing new automated eco-friendly washing line having annual capacity of 6,000 metric ton per annum (MTPA) at its existing recycling unit situated in Jaipur. The company has made investment of around Rs 1.5 crore on procuring and commissioning of the plant which is invested from internal accruals of the company.

The washing line plant will strengthen the plastic recycling segment of the company and will help in manufacturing more value added products. The company expects an increase of Rs 3 crore in its bottom line after the production.

Gravita India reported consolidated net profit of Rs 10.18 crore in Q4 March 2017 compared with net loss of Rs 0.21 crore in Q4 March 2016. Net sales rose 72% to Rs 201.63 crore in Q4 March 2017 over Q4 March 2016.

Gravita India is engaged in the business of manufacturing of lead metal by recycling & smelting process.

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GE Power India announces change in directorate
Jun 20,2017

GE Power India has appointed Andrew H. DeLeone as an Additional Director of the Company with effect from 20 June 2017. Ashok Ganesan has resigned from the directorship of the Company w.e.f. 20 June 2017.

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Alexander Stamps & Coin provides update on its plans for listing in Germany
Jun 20,2017

The Board of Alexander Stamps & Coins has finalized Investment Banker, DGWA of Germany www.dgwa.org for dual listing of Alexander Stamps and Coins in Germany on Detusche Boerse, for the same purpose a listing partner has been shortlisted and finalized by the board and company shall in near future go ahead with regulatory compliance and formalities to get it listed in Germany.

After this, the Listing Board will go for IPO in Europe.

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Gartner Says the Banking and Securities Industry in India To Grow 8.6 Percent in 2017
Jun 20,2017

The Forecast/ Current Scenario: IT spending by banking and securities firms in India will grow 8.6 percent in 2017 to reach $8.9 billion, according to Gartner, Inc.

Analyst Take: n++The Indian banking sector has undergone a transformation. Banks are gradually lowering the number of branches and increasing capability in terms of their existing infrastructure,n++ said Moutusi Sau, principal research analyst at Gartner. n++Despite effects of demonetization in the banking sector, banks will continue with digital transformation projects.n++

Analysis: Demonetization is the primary reason for the slowdown in the banking and securities market in India. But the effects will be short-lived. The slowing manufacturing sector is also having an indirect effect on the banking and securities sector.

IT services will grow the fastest at 13.8 percent in 2017 followed by software at 13.4 percent. Firms in the banking and securities industry are investing more in enterprise resource planning (ERP)/ supply chain management (SCM)/ customer relationship management (CRM) to upgrade their existing infrastructure.

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Amtek Auto recovers after recent slide
Jun 20,2017

Meanwhile, the S&P BSE Sensex was up 34.99 points, or 0.11% at 31,346.56. The S&P BSE Small-Cap index was up 80.78 points, or 0.52% at 15,734.75.

High volumes were witnessed on the counter. On the BSE, 29.47 lakh shares were traded on the counter so far as against the average daily volumes of 6.39 lakh shares in the past one quarter. The stock had hit a high of Rs 25.30 so far during the day. The stock had hit a low of Rs 21.25 so far during the day, which is also its 52-week low. The stock had hit a 52-week high of Rs 56.20 on 26 July 2016.

The stock had underperformed the market over the past one month till 19 June 2017, declining 35.93% compared with the Sensexs 2.78% rise. The scrip had also underperformed the market over the past one quarter declining 34.31% as against the Sensexs 5.61% rise. The scrip had also underperformed the market over the past one year declining 34.95% as against the Sensexs 17.6% rise.

The small-cap company has equity capital of Rs 49.65 crore. Face value per share is Rs 2.

Shares of Amtek Auto had declined 30.52% in the preceding three trading sessions to settle at Rs 23.45 yesterday, 19 June 2017, from its closing price of Rs 33.75 on 14 June 2017.

Amtek Auto reported net loss of Rs 307.57 crore in the quarter ended March 2017, compared with net loss of Rs 563 crore in the quarter ended March 2016. Net sales fell 31.8% to Rs 442.36 crore in the quarter ended March 2017 over the quarter ended March 2016.

Amtek Auto is one of the leading integrated auto component manufacturers.

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Satin Creditcare gains as RBI hikes foreign investment ceiling
Jun 20,2017

Meanwhile, the S&P BSE Sensex was up 38.06 points or 0.12% at 31,349.63. The S&P BSE Small-Cap index rose 78.75 points or 0.5% at 15,732.72.

On the BSE, 23,000 shares were traded on the counter so far as against the average daily volumes of 28,915 shares in the past one quarter. The stock had hit a high of Rs 294.04 and a low of Rs 284 so far during the day. The stock had hit a record high of Rs 716.70 on 28 July 2016 and a record low of Rs 243.55 on 12 June 2017.

The stock had underperformed the market over the past one month till 19 June 2017, sliding 15.02% compared with the Sensexs 2.78% rise. The stock had also underperformed the market over the past one quarter, declining 27.69% as against the Sensexs 5.61% rise. The scrip had also underperformed the market over the past one year, declining 34.53% as against the Sensexs 17.6% rise.

The small-cap company has equity capital of Rs 39.11 crore. Face value per share is Rs 10.

On consolidated basis, Satin Creditcare Network reported net loss of Rs 43.11 crore in Q4 March 2017, as against net profit of Rs 24.93 crore in Q4 March 2016. Total income declined 78.1% to Rs 175.22 crore in Q4 March 2017 over Q4 March 2016.

Satin Creditcare Network is one of the leading microfinance companies with a strong presence in North India.

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L&T launches Floating Dock for Indian Navy
Jun 20,2017

Larsen & Toubro announced the launch of Floating Dock (FDN-2) designed and built for the Indian Navy at the Companys greenfield shipyard at Kattupali, near Chennai. This marks a significant achievement for L&Ts shipbuilding arm in Design, Construction and Project Management of Defence Vessels.

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Airline stocks fly high after good growth in passenger traffic
Jun 20,2017

The traffic data was announced by the Ministry of Civil Aviation after market hours yesterday, 19 June 2017.

Meanwhile, the S&P BSE Sensex was up 34.38 points, or 0.11%, to 31,346.41.

Jet Airways (up 1.49%) and Interglobe Aviation (up 2.98%) gained.

SpiceJet gained 2.13% after the company and Boeing signed a memorandum of understanding for 40 737 MAX airplanes. The company made the announcement after market hours yesterday, 19 June 2017.

SpiceJet said that the agreement, valued at approximately $4.74 billion at current list prices, is split evenly between 20 new orders for the 737 MAX 10 and conversions of 20 of the low-cost carriers 737 MAX 8 airplanes of its current order to 737 MAX 10s.

The traffic data showed passengers carried by domestic airlines rose 17.63% to 4.65 crore in January-May, 2017 over January-May, 2016.

Meanwhile, oil prices held steady on the heels of seven-month lows, with investors remaining dubious about how effective the production cuts spearheaded by Saudi Arabia and Russia have been and will be. In the global commodities markets, Brent for August 2017 settlement was up 5 cents at $46.96 a barrel. The contract had fallen 46 cents to settle at $46.91 a barrel during the previous trading session.

Jet fuel or aviation turbine fuel (ATF) typically makes up almost half of an airlines operating cost. Prices of jet fuel are directly linked to crude oil prices. State-run oil marketing companies revise jet fuel prices on the last day of every month based on the average international crude price.

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Uflex engineers Easy-Scoop-Lock-Tight Pitcher Bag
Jun 20,2017

Uflex has engineered an Easy-Scoop-Lock-Tight Pitcher Bag that dispenses controlled portion of the product packed inside. The 4 panel bag comes with a reinforced handle on the side gusset for carrying. Additionally, the block bottom allows the bag to stand up without taking any support thereby enhancing the brand visibility. This bag is much in demand for packaging granular products like rice, sugar, pulses and pet foods.

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