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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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Nominal GDP estimated to grow at 10.0 per cent during 2015-16 as against 10.7 per cent during 2014-15
Feb 01,2017

The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has released the First Revised Estimates of National Income, Consumption Expenditure, Saving and Capital Formation for the financial year 2015-16 (with Base Year 2011-12) as per the revision policy. Second Revised Estimates for the year 2014-15 and Third Revised Estimates for the years 2012-13 and 2013-14 have also been released as per the calendar of revision of base year. Estimates for the year 2011-12 remain unchanged.

The First Revised Estimates for the year 2015-16 have been compiled using industry-wise/institution-wise detailed information instead of using the benchmark-indicator method employed at the time of release of Provisional Estimates on 31st May, 2016. The estimates of GDP and other aggregates for the years 2012-13 to 2014-15 have also undergone revision due to use of latest available data on agricultural production; industrial production especially those based on the provisional results of Annual Survey of Industries (ASI): 2014-15 and final results of ASI: 2013-14; government expenditure (replacing Revised Estimates with Actuals for the year 2014-15) and also more comprehensive data available from various source agencies and State/UT Directorates of Economics and Statistics.

The salient features of the estimates at aggregate level are indicated below:

Gross Domestic Product

Nominal GDP or GDP at current prices for the year 2015-16 is estimated as Rs. 136.75 lakh crore while that for the year 2014-15 is estimated as Rs. 124.34 lakh crore, exhibiting a growth of 10.0 per cent during 2015-16 as against 10.7 per cent during 2014-15.

Real GDP or GDP at constant (2011-12) prices for the years 2015-16 and 2014-15 stands at Rs. 113.58 lakh crore and Rs. 105.23 lakh crore, respectively, showing growth of 7.9 per cent during 2015-16 and 7.2 per cent during 2014-15.  

Industry-wise Analysis 

The changes in the Gross Value Added (GVA) at basic prices in different sectors of the economy at current and constant (2011-12) prices are presented in Statements 4.1 and 4.2 respectively. At the aggregate level, nominal GVA at basic prices increased by 8.6 per cent during 2015-16 as against 10.7 per cent during 2014-15. In terms of real GVA, i.e., GVA at constant (2011-12) basic prices, there has been a growth of 7.8 per cent in 2015-16, as against growth of 6.9 per cent in 2014-15.  

The shares of different sectors of the economy in terms of overall GVA during 2011-12 to 2015-16 and corresponding annual growth rates are mentioned below: 

SectorPercentage share in GVA at current pricesPercentage change in GVA at constant (2011-12) prices over the previous year2011-122012-132013-142014-152015-162012-132013-142014-152015-16Primary 21.7521.3621.5020.7619.831.25.21.82.6Secondary29.2828.6327.9027.3927.203.94.36.17.8Tertiary48.9750.0150.6051.8552.978.37.79.59.8All100.00100.00100.00100.00100.005.46.26.97.8Aggregate GVA (Rs. in lakh crore)at current pricesat constant pricesTotal 81.0792.05103.66114.70124.5285.4890.7997.09104.70

The growth in real GVA during 2015-16 has been higher than that in 2014-15 mainly due to higher growth in Gagriculture, forestry & fishing (0.8%), Gmanufacturing (10.6%), Gtrade, repair, hotels & restaurants (11.6%), Gtransport, storage, communication & services related to broadcasting (9.1%) and Greal estate, ownership of dwelling & professional services (12.6%), as may be seen from Statement 4.2. During 2015-16, at constant prices, the growth rates of primary (comprising agriculture, forestry, fishing and mining & quarrying), secondary (comprising manufacturing, electricity, gas, water supply & other utility services, and construction) and tertiary (services) sectors have been estimated as 2.6 per cent, 7.8 per cent and 9.8 as against a growth of 1.8 per cent, 6.1 per cent and 9.5 per cent, respectively, in the previous year. 

Net National Income

Nominal Net National Income (NNI) at current prices for the year 2015-16 stands at Rs. 120.83 lakh crore as against Rs. 109.61 lakh crore in 2014-15, showing an increase of 10.2 per cent during 2015-16 as against an increase of 10.7 per cent in the previous year.  

Gross National Disposable Income

Gross National Disposable Income (GNDI) at current prices is estimated as Rs. 139.29 lakh crore for the year 2015-16, while the estimate for the year 2014-15 stands at Rs. 126.91 lakh crore, showing a growth of 9.7 per cent as against 10.4 per cent in the year 2014-15.  

Saving

Gross Saving during 2015-16 is estimated as Rs. 44.05 lakh crore as against Rs. 40.98 lakh crore during 2014-15. Rate of Gross Saving to GNDI for the year 2015-16 is estimated as 31.6 per cent as against 32.3 per cent, estimated for 2014-15.  

The highest contributor to Gross Saving is the household sector, with a share of 59.2 per cent in the year 2015-16. However, the share has declined from 62.0 per cent in 2014-15 to 59.2 per cent in 2015-16. This decline can be attributed to decline in household savings in physical assets, which has declined from Rs. 15.78 lakh crore in 2014-15 to Rs. 14.84 lakh crore in 2015-16. On the other hand, the share of Non-Financial Cor

Firstsource gains after signing 10-year outsourcing deal with Sky
Feb 01,2017

The announcement was made after market hours yesterday, 31 January 2017.

Meanwhile, the S&P BSE Sensex was up 27.32 points or 0.1% at 27,683.28

On the BSE, 3.98 lakh shares were traded on the counter so far as against the average daily volumes of 4.05 lakh shares in the past two weeks. The stock had hit a high of Rs 41.75 and a low of Rs 40.15 so far during the day. The stock had hit a 52-week high of Rs 53.65 on 26 July 2016 and a 52-week low of Rs 28.85 on 17 February 2016.

The small-cap company has equity capital of Rs 678.04 crore. Face value per share is Rs 10.

Firstsource Solutions said that Firstsource Solutions UK (FS UK), a wholly owned subsidiary of the company and Sky Subscriber Services, UK (Sky UK) has signed the contract for the previously announced 10-year strategic partnership. The letter of intent was signed on 18 July 2016. The agreement follows a strategic review conducted by Sky UK to consolidate their partner network and have decided to make FS UK their single preferred partner for their core TV and broadband services across their estate.

On a consolidated basis, Firstsource Solutions net profit fell 1.75% to Rs 70.01 crore on 0.23% rise in total income to Rs 886.82 crore in Q3 December 2016 over Q2 September 2016.

Firstsource Solutions is a global provider of customised BPM (Business Process Management). It operates in India, the Philippines, Sri Lanka, the UK and the US.

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Bank stocks edge higher as FM says drop in economic activity due to demonetisation transient
Feb 01,2017

Among public sector banks, Union Bank of India (up 3.48%), State Bank of India (up 2.63%), Bank of Baroda (up 2.45%), Punjab National Bank (up 1.95%), IDBI Bank (up 1.23%) and Indian Bank (up 1.26%) edged higher.

Among private sector banks, RBL Bank (up 1.45%), Axis Bank (up 0.69%), Kotak Mahindra Bank (up 0.52%) and ICICI Bank (up 0.3%) edged higher.

Meanwhile, the S&P BSE Sensex was up 65.14 points or 0.24% at 27,721.10.

Jaitley in his Budget speech today, 1 February 2017, said that demonetisation seeks to make our gross domestic product (GDP) cleaner and bigger.

Demonetisation is a bold & decisive measure, he said. The government banned higher denomination notes of Rs 500 and Rs 1,000 in a surprise announcement on 8 November 2016.

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Indias Air Passenger Volumes to Reach 310 million by FYE18, Aided by Economic Growth and Policy Impetus
Feb 01,2017

The overall air passenger volumes (pax) have been consistently increasing and are likely to reach 310 million by FYE18, says India Ratings and Research (Ind-Ra). This will be driven by the aspirations of the middle class to travel in flights and a reduction in price differential between air travel and rail journey, including the recently increased cancellation fees for train tickets.

The slowdown in economic growth during the first half of the current decade had minimal impact on pax growth. However, the 2008 global economic crisis and fuel and currency crises in FY13 had a pronounced impact on air traffic growth. The gradual increase in private final consumption expenditure has been buttressing Indias pax growth since early FY14. Ind-Ras sensitivity on economic growth also underlines the strong underlying fundamentals and continued growth in pax volumes.

Airports are an integral part of the aviation sector; hence, any impairment of airport functions exerts stress on the stake holders such as airlines, fuel suppliers and travellers. Large gateways such as Mumbai and Delhi airports and mid-market airport hubs such as Bangalore and Hyderabad airports have displayed strong volume resilience, despite unfavourable macroeconomic trends.

The new civil aviation policy has given clarity on the methods to determine aero revenue. 70% non-aero revenue that is outside the purview of the tariff setting mechanism will prove to be a significant contributor to EBITDA margin improvement. Commercial revenues (such as retail, car parking, rental cars and ground transportation) have collectively evolved to become the leading components of revenues to cover airports expenses and debt service. The ability of airports to stabilise these diversified revenue streams (aeronautical charges) or generate excess cash from them for asset preservation or increase operating margins could enhance their debt service coverage ratios or reduce leverage ratios.

Airport Economic and Regulatory Authority indicated a normative capital expenditure cost for the construction of new terminals and runways in June 2016. Previous construction costs for Ind-Ra rated airports were higher than the indicative costs and could bring in a disparity in the structural design and quality of construction. While greenfield airports (Bangalore and Hyderabad) were running at their full capacities, the order introduces an ambiguity among developers.

Although some airports are facing refinancing risks, Ind-Ra rated airports have refinanced their loans comfortably either through capital market instruments or through bank loans. Given the robust performance in the past, investors have shown interest in airport assets. However, Ind-Ra expects domestic airports to raise bonds in the domestic capital market as against international issuances earlier.

Brownfield expansions by airports are not on the cards till FY18; therefore, their debt/EBITDA is likely to reduce. However with the rapid growth in pax, utilisation is likely to reach the created capacity ahead of the original projected timelines. Hence, airports will be compelled to take up expansion plans ahead of the time.

To make air travel affordable for the masses, the government has introduced Regional Air Connectivity Scheme (RCS) with concessions on aviation turbine fuel, reduced air ticket prices, and exemption from airport charges. Ind-Ra expects the government in the FY18 budget to announce some contributions for RCS viability gap funding. However, slot non-availability for new aircraft in major hubs will be a constraint in operationalising RCS.

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Vani Commercial to consider Q3 and 9M results
Feb 01,2017

Vani Commercial announced that the Meeting of the Board of Directors of the Company will be held on 11 February 2017, to consider and take on record the Un-Audited Financial Results of the Company for the Quarter and nine months ended 31 December 2016.

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Board of Indrayani Biotech to consider December quarter results
Feb 01,2017

Indrayani Biotech announced that the meeting of the Board of Directors of the Company would be held on 11 February 2017, to approve the Unaudited Financial Results for the quarter ended 31 December 2016.

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Board of BDH Industries to consider Q3 and 9M results
Feb 01,2017

BDH Industries announced that a meeting of the Board of Directors of the Company will be held on 13 February 2017, inter alia, to take on record the Unaudited Financial Results for the third quarter and nine months ended 31 December 2016 of the financial year 2016-17.

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Manipal Finance Corporation to consider December quarter results
Feb 01,2017

Manipal Finance Corporation announced that a meeting of the Board of Directors of the Company will be held on 14 February 2017 to consider inter-alia the Un-audited Financial Results for the quarter ended 31 December 2016.

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Board of Gujarat Borosil to consider Q3 and 9M results
Feb 01,2017

Gujarat Borosil announced that a meeting of the Board of Directors of the Company is scheduled to be held on 09 February 2017, inter alia, to consider and approve the Unaudited Financial Results for the quarter and nine months ended 31 December 2016.

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State Bank of India to announce Q3 results
Feb 01,2017

State Bank of India announced that a meeting of the Central Board of the Bank will be held on 10 February 2017 to discuss and approve the working financial results of the Bank for the Quarter/Nine months ended 31 December 2016 (Q3).

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Board of SJVN to consider Q3 results and interim dividend
Feb 01,2017

SJVN announced that a Meeting of the Board of Directors is scheduled to be held on 13 February 2017 to, inter alia, consider and approve the unaudited Financial Results of the Company for the Third Quarter/Nine Months ending 31 December 2016 (Q3) and Interim Dividend for the FY 2016-17, if any.

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Punjab & Sind Bank announces cessation of Executive Director
Feb 01,2017

Punjab & Sind Bank announced that as per Notification dated 15 December 2015, Arvind Kumar Jain was appointed as Executive of Director of Punjab & Sind Bank.

Arvind Kumar Jain has demitted the charge of Executive Director of the Bank, on superannuation on 31 January 2017.

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Bank of Baroda to announce Q3 results
Feb 01,2017

Bank of Baroda announced that a meeting of Board of Directors of the Bank will be held on 10 February 2017, inter alia:

- To consider & approve the Un-audited (Reviewed) Standalone Financial Results of the Bank together with relevant segment reporting, for the quarter / nine months ended 31 December 2016 (Q3).

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Bank of Baroda to announce Q3 results
Feb 01,2017

Bank of Baroda announced that a meeting of Board of Directors of the Bank will be held on 10 February 2017, inter alia:

- To consider & approve the Un-audited (Reviewed) Standalone Financial Results of the Bank together with relevant segment reporting, for the quarter / nine months ended 31 December 2016 (Q3).

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Maruti hits record high after strong January sales
Feb 01,2017

The announcement was made during market hours today, 1 February 2017.

Meanwhile, the S&P BSE Sensex was up 6.25 points or 0.02% at 27,662.21.

On the BSE, 39,000 shares were traded on the counter so far as against the average daily volumes of 68,837 shares in the past one quarter. The stock had hit a high of Rs 5,999.90 so far during the day, which is a record high. The stock hit a low of Rs 3,202.10 so far during the day. The stock had hit a 52-week low of Rs 3,202.10 on 29 February 2016.

The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.

The companys total domestic sales rose 25.9% to 1.33 lakh units in January 2017 over January 2016. Total export sales surged 44.8% to 10,462 units in January 2017 over January 2016.

Maruti Suzuki Indias net profit rose 47.5% to Rs 1744.50 crore on 12.4% growth in net sales to Rs 16623.60 crore in Q3 December 2016 over Q3 December 2015.

Maruti Suzuki India is Indias biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.21% stake in Maruti (as per the shareholding pattern as on 31 December 2016).

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