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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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Board of Jammu and Kashmir Bank approves preferential issue of shares to Govt. of J&K
Mar 21,2017

Jammu and Kashmir Bank announced that the Board of Directors of the Bank at its meeting held on 20 March 2017 has approved preferential allotment of 3,65,55,051 equity shares of Rs. 1/- each fully paid up of the Bank for cash to the Government of Jammu and Kashmir, Promoter and majority shareholder of the Bank at the issue price of Rs. 68.39 per Equity Share (including premium of Rs. 67.39 per Equity Share) aggregating to Rs. 249.99 crore.

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Outcome of board meeting of India Home Loan
Mar 21,2017

India Home Loan announced that the Board of Directors of the Company at their meeting held on 20 March 2017 transacted the following -

1. Granted approval to the Company to borrow money as per section 179 (3) (d) & section 180(1)( c) of the Act.
2. Recommended & approved increase in the managerial remuneration of Mahesh Pujara,MD, as per section 197 read with schedule V of the Act.
3. Recommended & approved increase in the managerial remuneration of Mitesh Pujara,WTD, as per section 197 read with schedule V of the Act.
4. Approved the record date & Notice for postal ballot for approving item no. 1,2 & 3 above.
5. Appointed Ulhas Shetty, of M/s. Ulhas Shetty & Co., Company Secretaries, as Scrutinizer for conducting the Postal Ballot procedure.
6. Took note of prepayment of term loan & authorised Director to file e-form with ROC, Mumbai.
7. Apprised w.r.t the business & operational matters.
8. Approved the Company to invest funds of the Company as per Section 179(3)(e) of the Act.

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Alexander Stamps And Coin to hold EGM
Mar 21,2017

Alexander Stamps And Coin announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 24 April 2017 .

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Bhartiya Mahila Bank to merge with State Bank of India
Mar 21,2017

State Bank of India announced that the Government of India has decided to merge Bhartiya Mahila Bank with State Bank of India.

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IndusInd Bank opens new branch in Faridabad
Mar 21,2017

IndusInd Bank inaugurated a new branch in Faridabad, which is a major industrial hub in the State of Haryana. The new branch is located at SCF-59 & 60, Sector-15, Urban Estate, Faridabad, Haryana. With the inauguration of this branch, the bank now has four branches in Faridabad.

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Smartlink Network declines on profit booking
Mar 21,2017

Meanwhile, the S&P Sensex was down 9.17 points, 0.03% at 29,509.57. The S&P Small-cap index was down 19.49 points or 0.14% at 14,035.50.

On the BSE, 13,000 shares were traded on the counter so far as against the average daily volumes of 23,142 shares in the past one quarter. The stock had hit a high of Rs 104.65 and a low of Rs 100.50 so far during the day.

The stock had hit a 52-week high of Rs 123.40 on 12 December 2016 and a 52-week low of Rs 76 on 15 November 2016. The stock had outperformed the market over the past one month till 20 March 2017, advancing 9.34% compared with the Sensexs 2.99% rise. The scrip had, however, underperformed the market over the past one quarter declining 2.89% as against the Sensexs 12.2% rise.

The small-cap company has equity capital of Rs 4.51 crore. Face value per share is Rs 2.

Shares of Smartlink Network had jumped 11.15% to settle at Rs 104.20 yesterday, 20 March 2017, triggered by the companys board approving the final application for categorizing the company as a non-banking financial company (NBFC) to be made to the Reserve Bank of India (RBI).

The companys business currently consists mainly of income from investments activities pursuant to transfer of Digisol brand business to Digisol Systems and manufacturing business to Synegra EMS, (wholly owned subsidiaries of the company) respectively. The announcement was made on Friday, 17 march 2017.

Meanwhile, the company on that day had also said that its board has considered and approved the acquisition of Rs 1 crore equity shares aggregating up to Rs 10 crore issued by Digisol Systems, a wholly owned subsidiary of the company in one or more tranches.

Smartlink Network Systems net profit surged 403.6% to Rs 1.41 crore on 58.2% decline in net sales to Rs 3.05 crore in Q3 December 2016 over Q3 December 2015.

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Avenue Supermarts sees strong debut
Mar 21,2017

The stock debuted at Rs 604.40, a premium of 102.14% to the initial public offer (IPO) price. So far the stock hit a high of Rs 615 and low of Rs 558.75. On BSE, so far 68.20 lakh shares were traded on the counter.

The issue price was fixed at Rs 299 per share, the top end of the IPO price band of Rs 295 to Rs 299 per share. The IPO of Avenue Supermarts closed with strong response from investors. The IPO received bids for 464.08 crore shares compared with 4.43 crore shares on offer. The IPO was subscribed 104.59 times. The issue opened for bidding on 8 March 2017 and closed on 10 March 2017.

The qualified institutional buyers (QIBs) category was subscribed 144.62 times. The non institutional investors category, made up of high net-worth individuals, was subscribed 277.74 times. The retail individual investors (RIIs) category was subscribed 7.51 times.

The issue comprised fresh issue of shares of Rs 1870 crore. The company set a price band of Rs 295 to Rs 299 per share for the IPO. Avenue Supermarts raised Rs 560.99 crore by selling 1.87 crore shares to a total of 35 anchor investors ahead of the opening of the companys IPO. The shares were allotted to the anchor investors at Rs 299 per share, the top end of the IPO price band.

Avenue Supermarts is an emerging national supermarket chain. The companys stores operate under the D-Mart brand, registered as a trademark under various classes of products. The company offers a wide range of products with a focus on the Foods, Non- Foods (FMCG) and General Merchandise & Apparel product categories. According to Technopak, in FY 2016, the company was one of the largest and the most profitable F&G retailers in India.

The company proposes to utilize the IPO proceeds repayment or prepayment of a portion of loans, construction and purchase of fit outs for new stores and for general corporate purposes.

On a consolidated basis, Avenue Supermarts reported net profit of Rs 387.74 crore on net sales of Rs 8784 crore in nine-months ended December 2016.

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Government Aims To Make India A Global Biotech Hub By 2020
Mar 21,2017

The Minister of State for Science and Technology & Earth Sciences, Mr. Y. S. Chowdary, has said that biotechnology will be the leader among the knowledge based industries of the 21st century. He said producing affordable products will be major issue for India. He called for efforts to set up a proper ecosystem with sustainable systems, particularly in hubs of rural India.

Mr. Y. S. Chowdary, further said that - n++Research and innovation has been one of the key areas emphasized by the Prime Minister. Globally, BIRAC has been hailed as one of the most effective government measures to create an enabling environment for research and development to flourish in a country. We aim to develop India into a global innovation hub by 2020 and Biotechnology Industry Research Assistance Council (BIRAC) has paved the way to deliver on that mandate.n++

BIRAC is a not-for-profit public sector enterprise, set up by the Department of Biotechnology (DBT), Government of India which acts as an interface agency to support emerging biotech enterprises to undertake strategic research and innovation, to address nationally relevant product development needs. Through the course of five years, BIRAC has supported over 618 projects, 850 start-ups, entrepreneurs, biotech companies and organizations and 20 incubators across the country, resulting in over 66 products and technologies and 120 Intellectual property rights being generated.

BIRAC supports entrepreneurs and start-ups at different stages of innovation - from the ideation stage to managing intellectual property rights and finally to the commercialization of products. Different initiatives of BIRAC target different stages of the innovation ecosystem from ideation stages to proof-of-concept and late stage validation to product development. BIRAC has 9 flagship schemes that are supported by funding from the Department of Biotechnology, and manages 7 collaboratively funded programs with international partners, such as the Bill & Melinda Gates Foundation, Nesta, the Wellcome Trust and USAID, among others. Social Innovation is a key focus for affordable and accessible product development.

Dr. K. Vijay Raghavan, Secretary, Department of Biotechnology and Chairman, BIRAC said that Innovation and research must be directed toward addressing the most pressing problems of society. Were proud that BIRAC and the Department of Biotechnology are spearheading this effort in the biotechnology domain. Since its inception in 2012, BIRAC has created nearly two dozen incubators across the country and supported over 350 start-ups. We firmly believe that social entrepreneurship is the key to creating an inclusive society and our government is committed to providing all the necessary support.

The science and technology sector will play a key role in the governments Start-Up India Action Plan. The DBT, in line with the Start-Up India Action Plan has undertaken a number of initiatives centered on the three pillars of an ideal innovation ecosystem - funding, mentoring and capacity building, and the infrastructure to translate scientific research into commercial products. To this end, BIRAC implements its mandate through a wide range of high impact initiatives, providing access to risk capital through targeted funding, facilitating technology transfer, and supporting intellectual property management and handholding schemes for biotech firms to make them globally competitive.

Dr. Renu Swarup, Senior Adviser, Department of Biotechnology and Managing Director, BIRAC said that through initiatives such as Start-Up India and the Science and Technology for Harnessing Innovations or SATHI, the government is ushering in supportive policies and removing regulatory barriers to create an atmosphere of innovation and entrepreneurship in the country. The world as a whole stands to gain with Indian innovators stepping up and changing the way we address the grand challenges we face today. We are proud that BIRAC has created an enabling environment for the biotechnology industry to prosper.

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Divis Labs slumps after USFDA issues import alert on Vizag unit
Mar 21,2017

The announcement was made before trading hours today, 21 March 2017.

Meanwhile, the S&P BSE Sensex was down 8.10 points, or 0.03% to 29,510.64.

On the BSE, 13.02 lakh shares were traded in the counter so far, compared with average daily volumes of 3 lakh shares in the past one quarter. The stock had hit a high of Rs 711.65 so far during the day. The stock had hit a low of Rs 635 so far during the day, which is also a 52-week low for the counter. The stock hit a 52-week high of Rs 1,380 on 16 September 2016.

The stock had outperformed the market over the past one month till 20 March 2017, rising 5.71% compared with 3.69% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 30.70% as against Sensexs 12.20% rise.

The large-cap company has equity capital of Rs 53.09 crore. Face value per share is Rs 2.

Divis Laboratories announced that the United States Food and Drug Administration (USFDA) has issued an Import Alert 66-40 on 20 March 2017 on the products manufactured at the companys Unit-II at Visakhapatnam, Andhra Pradesh. The agency has exempted the 10 products namely Levetiracetam, Gabapentin, Lamotrigine, Capecitabine, Naproxen Sodium, Raltegravir potassium, Atovaquone, Chloropurine , BOC core succinate and 2, 4-wing active ester, from the import alert, it added.

Divis Laboratories said the company, along with third party consultants, is currently working to address the concerns of the USFDA and is making all efforts to fully meet the compliance requirements.

Divis Laboratories net profit rose 8.7% to Rs 268.32 crore on 13.4% increase in net sales to Rs 973.44 crore in Q3 December 2016 over Q3 December 2015.

Divis Laboratories is primarily engaged in the manufacture of active pharmaceutical ingredients (APIs) & intermediates for generics; custom synthesis of APIs and advanced intermediates for discovery compounds for pharma giants; building blocks for peptides; building blocks for nucleotides; carotenoids; and chiral ligands.

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Greenply Inds moves higher as SBI MF purchases bulk shares
Mar 21,2017

Meanwhile, the S&P Sensex was up 10.18 points or 0.03% at 29,528.92. The BSE Mid-Cap index was down 33.70 points or 0.24% at 13,883.09.

On the BSE, 2,067 shares were traded on the counter so far as against the average daily volumes of 73,955 shares in the past one quarter. The stock had hit a high of Rs 283.50 and a low of Rs 276.10 so far during the day.

The stock had hit a record high of Rs 309 on 6 March 2017 and a 52-week low of Rs 173 on 4 April 2016. The stock had underperformed the market over the past one month till 20 March 2017, sliding 8.12% compared with the Sensexs 2.99% rise. The scrip had also underperformed the market over the past one quarter, rising 8.93% as against the Sensexs 12.2% rise.

The mid-cap company has equity capital of Rs 12.26 crore. Face value per share is Rs 1.

Trade Combines sold 38 lakh shares of Greenply Industries at Rs 275.03 per share in a bulk deal on the BSE on 20 March 2017. SBI Mutual Fund A/C Magnum Midcap Fund Scheme Ninety One bought 28.42 lakh shares at Rs 275 per share.

SBI FMCG Fund owned 4.75% stake in Greenply Industries end December 2016.

Greenply Industries net profit fell 31.8% to Rs 24 crore on 14% decline in net sales to Rs 358.78 crore in Q3 December 2016 over Q3 December 2015.

Greenply Industries is into manufacturing and marketing of a wide range of interior infrastructure products.

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n++Kahin Bhi-Kabhi Bhin++ medical services launched for ESIC beneficiaries of Delhi/Noida on pilot basis
Mar 21,2017

Employees State Insurance Corporation (ESIC) has launched the n++Kahin Bhi-Kabhi Bhin++ medical services for ESIC beneficiaries of Delhi/Noida on a pilot basis w.e.f 1st November, 2016. Under this scheme Insured Persons (IPs) and their families may seek primary medical care services including consultation and medicines, for common/routine ailments from any of the ESI dispensary in Delhi/Noida Also patient may be referred from any ESIC dispensary to any ESIC Hospitals in Delhi/Noida for secondary care.

ESI Corporation intends to extend such medical services in other parts of the country depending on the outcome of above pilot project.

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Board of Stampede Capital approves change in directorate
Mar 21,2017

Stampede Capital announced that the Board of Directors of the Company at their meeting held on 20 March 2017 approved the following -

Accepted the resignation of M V Laxmi, and appointed Chukka Lakshmi Woman Director of the Company with effect from 20 March 2017.

Approved the Postal Ballot Notice for the following resolutions -

a. Issue of Convertible Share Warrants to Non-Promoter(s)/Non-Promoter Group of the Company on preferential basis;
b. Issue of Equity Shares and/or Other Securities
c. Investments in any Body Corporate including Subsidiaries
d. Increase in Authorized Share Capital
e. Amendment of Capital Clause of the MoA
f. To sell lease or otherwise dispose of the assets of the Subsidiary Company
g. Issue of ESOP Shares/Sweat Equity to the Key Managerial Persons by Stampede Tradex, Singapore
h. Authorization and approval for Conversion of Unsecured Loan of Usha Rani Meenavalli, Promoter into Equity Shares of the Company;
i. Re-classification of K. Bhaskar Reddy from Promoter to Public Group.

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Board of Stampede Capital approves change in directorate
Mar 21,2017

Stampede Capital announced that the Board of Directors of the Company at their meeting held on 20 March 2017 approved the following -

Accepted the resignation of M V Laxmi, and appointed Chukka Lakshmi Woman Director of the Company with effect from 20 March 2017.

Approved the Postal Ballot Notice for the following resolutions -

a. Issue of Convertible Share Warrants to Non-Promoter(s)/Non-Promoter Group of the Company on preferential basis;
b. Issue of Equity Shares and/or Other Securities
c. Investments in any Body Corporate including Subsidiaries
d. Increase in Authorized Share Capital
e. Amendment of Capital Clause of the MoA
f. To sell lease or otherwise dispose of the assets of the Subsidiary Company
g. Issue of ESOP Shares/Sweat Equity to the Key Managerial Persons by Stampede Tradex, Singapore
h. Authorization and approval for Conversion of Unsecured Loan of Usha Rani Meenavalli, Promoter into Equity Shares of the Company;
i. Re-classification of K. Bhaskar Reddy from Promoter to Public Group.

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NLC India to pay interim dividend for FY 2017
Mar 21,2017

NLC India will pay interim dividend for FY 2017 on or before 31 March 2017.

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Board of Engineers India approves buyback of shares for an aggregate Rs 658.80 crore
Mar 21,2017

The Board of Directors of Engineers India at their meeting held on 20 March 2017 has approved the following -

Approved the alteration of Article of Association to empower the Company to buyback its shares.

Approved the proposal to buyback not exceeding 4,19,61,780 equity shares of the Company (representing 6.23% of the total number of shares in the paid up share capital of the Company) at a price of Rs 157 per share payable in cash for an aggregate consideration not exceeding Rs 658.80 crore.

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