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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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Outcome of board meeting of India Motor Parts & Accessories
Mar 29,2017

India Motor Parts & Accessories announced that the Board of Directors of the Company at its meeting held on 28 March 2017 has given its approval for the Company to enter into a Memorandum of Understanding for investing Rs 3.80 crore towards 76% stake in the equity of a private limited company, which will take over business of Central Automobiles, a partnership firm in Ahmedabad, Gujarat. The proposed transaction is expected to be completed by Q1/ by early Q2 in 2017-18 and the new private limited company will become a subsidiary of IMPAL.

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Board of Dynacons Systems & Solutions takes note of new subsidiary incorporated in Singapore
Mar 29,2017

Dynacons Systems & Solutions announced that the Board of Directors of the Company at its meeting held on 28 March 2017 has taken on record the incorporation of a new subsidiary named Dynacons Systems & Solution Pte. Ltd on 28 March 2017 having registered office in Singapore.

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Mold-Tek Packaging revises record date for interim dividend
Mar 29,2017

Mold-Tek Packaging has revised the record date for payment of interim dividend for FY 2017 to 11 April 2017 instead of 07 April 2017.

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Vardhman Special Steels fixes record date for rights issue
Mar 29,2017

Vardhman Special Steels has fixed 10 April 2017 as the record date for proposed rights issue. The Committee of Directors (Rights Issue) at its meeting held on 28 March 2017 has approved the issue, for offer of 1,35,70,000 equity shares of face value of Rs 10 each at an issue price of Rs 50 per equity share (including premium of Rs 40 per share). The issue comprises of issue of 1,23,70,000 rights equity shares to eligible equity shareholders and reservation of up to 12,00,000 equity shares for eligible employees.

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JSW Steel provides update on proposed issue of foreign currency denominated notes
Mar 29,2017

JSW Steel announced that the Finance Committee in its meeting held on 29 March 2017 has approved the preliminary offering circular in relation to the Notes issuance by the Company.

The Board of Directors of the Company in its meeting held on 27 July 2016 has approved to raise long term funds through the issuance of non-convertible foreign currency/ Rupee denominated senior unsecured fixed rate bonds up to USD 750 million, in one or more tranches, in the international markets either by the Company or by any of its subsidiaries backed by corporate guarantee of the Company.

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Dilip Buildcon bags NHAI road project valued Rs 503.10 crore
Mar 29,2017

Dilip Buildcon has been declared as the Lowest-1 (L-1) bidder for the project of 4 Laning, Rehabilitation and Upgradation of NH-4 from Nalagampalli to AP/Karnataka Border from Km 171.590 (Design km 172.00) to Km 216.912 (Design km 219.687) (Design length = 47.687 Km) under NHDP-IV in the State of Andhra Pradesh on EPC mode. The contract amount for this Four Lane NHAI project on EPC mode in the state of Andhra Pradesh project, to be executed on EPC basis, is Rs. 503.10 crore with 24 months of completion period.

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Hindustan Zinc may drop on ex-dividend
Mar 29,2017

Shares of Hindustan Zinc turn ex-dividend today, 29 March 2017 for special dividend of Rs 27.50 per share for the year ending 31 March 2017.

Coffee Day Enterprises said that step-down subsidiary of the company Way2Wealth Brokers Private Limited has transferred entire 100% shares in its subsidiary namely Way2Wealth Illuminati Pte. to Alphagrep Securities, a fellow subsidiary with effect from 28 March 2017. The announcement was made after market hours yesterday, 28 March 2017.

Balasore Alloys said that the committee for preferential issue of warrants of the board of directors will be held on 31 March 2017 for allotment of 1 crore shares at Rs 21.50 per shares in lieu of 1 crore convertible warrants to the promoters on preferential basis pursuant to the authority given by the shareholders through postal ballot notice on 26 September 2016.

The company said that out of the 2.30 crore convertible warrants the remaining 1.30 crore warrants shall be converted into equity shares in the financial year 2017-18. The announcement was made after market hours yesterday, 28 March 2017.

Sundaram Fasteners announced that on 27 March 2017, the company acquired 16.80 lakh equity shares or 24% from Bleistahl Produktions GmbH & Co. KG (Bleistahl), in the share capital of Sundram Precision Components (SPCL), formerly Sundram Bleistahl, a subsidiary of the company. The company has acquired the equity shares from Bleistahl in SPCL for a cash consideration at Rs 31.45 per share.

With this acquisition, our company has 100% equity stake in SPCL compared to earlier holding of 76% and SPCL has thus become a wholly owned subsidiary of the company with effect from 27 March 2017. The announcement was made after market hours yesterday, 28 March 2017.

Karnataka Bank announced that it opened its 759th and 760th branch at Bengaluru. The announcement was made after market hours yesterday, 28 March 2017.

Mic Electronics announced that the meeting of the board of directors of the company is scheduled to be held on 31 March 2017 to consider and approve the allotment of 4.32 crore shares at Rs 20 per share to non-promoters. The announcement was made after market hours yesterday, 28 March 2017.

Himachal Futuristic Communications announced that debentures allotment committee of the board of directors of the company at a meeting held on 28 March, 2017 has approved the allotment of 10.3%, 29.49 lakh secured unlisted non-convertible debentures (NCDs) of the company of Rs 100 each aggregating to Rs 29.49 crore on private placement basis by way of conversion of outstanding right of recompense amount payable to the banks. The announcement was made after market hours yesterday, 28 March 2017.

Indowind Energy announced the successful re-powering of 1.920 megawatts (MW) wind farm capacity at Hanumsagar, Karnataka & has commenced make change of 3.025 MW wind farm capacity at Tirunelveli, Tamil Nadu after obtaining necessary approval from TANGEDCO. It is expected to generate additional yearly revenue of around Rs 2.5 crore. The announcement was made after market hours yesterday, 28 March 2017.

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AAI, DRDO and Govt. of Jharkhand Signed a Tripartite MoU for Development of Deoghar Airport in Deoghar district of Jharkhand
Mar 28,2017

Airports Authority of India, Defense Research and Development Organization (DRDO) and Govt. of Jharkhand signed a tripartite MoU for development of Deoghar Airport in Deoghar district of Jharkhand. The existing Deoghar Airport will be developed for operations of A-320 and C-130 Aircraft. Signing of MoU took place in a ceremony held at the CM Residence.

The Govt. of Jharkhand has acquired 600.34 acres of land which will be handed over to AAI apart from the existing 53.41 acres Deoghar Airport land. D.R.D.O, Govt. of Jharkhand and AAI will provide Rs. 200 Crores, Rs. 50 Crores respectively to develop, operationalize and maintain the airport. The time frame given to develop and operationalize the Deoghar Airport is two years.

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Value of Output of Milk at Current Prices Rs.5,00,405 Crore in 2014-15
Mar 28,2017

As per National Account Statistics Report, 2016, the value of output of milk at current prices was Rs.5,00,405 crore in 2014-15, while at constant prices (2011-12) it was 3,89,846 crore. As compared to last year, the growth in value of output of milk is about 7.4 percent at constant prices.

As per National Dairy Development Board, it is estimated that out of total milk production 46% is consumed locally, and 54% is marketable surplus. The share of organized sector in the total marketable surplus of milk is about 30%, while the balance 70% is handled by the unorganized sector. Of the total organized liquid milk market, the cooperatives and private dairy sector have almost equal share.

The GDP estimates of milk industry are not available separately, although, the contribution of livestock sector to the countrys GDP is about 4 percent. Also, the share of value of output of milk group in the total livestock sector is about 67%.

Dairy is an important source of additional income for the farmers. Availability of milk processing facility and other infrastructure will benefit the farmers through value addition. A large number of milk processing units set up under the Operation Flood Programme has since become old and obsolete. A Dairy Processing and Infrastructure Development Fund would be set up in NABARD with a corpus of Rs. 8,000 crores over 3 years. Initially, the Fund will start with a corpus of Rs. 2,000 crores.

Currently milk cooperatives convert about 20% of milk procurement into conventional & other Value Added Products.

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Markets were closed
Mar 28,2017

Indias currency markets were closed on Tuesday (28 March 2017) for a public holiday. The trading will resume on Wednesday. Previous close is 65.0350/0450 per dollar.

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Rupee slips a tad
Mar 28,2017

Rupee closed lower at 65.0650/0850 per dollar on Tuesday (28 March 2017), versus its previous close of 65.0350/0450 per dollar.

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Emmbi jumps after inaugurating pond lining facility
Mar 28,2017

The announcement was made during market hours today, 28 March 2017.

Meanwhile, the S&P BSE Sensex was up 176.63 points or 0.6% at 29,413.78. The BSE Small-Cap index was up 77.43 points or 0.55% at 14,148.71.

On the BSE, 1.24 lakh shares were traded on the counter so far as against the average daily volumes of 24,261 shares in the past one quarter. The stock had hit a high of Rs 157.75 so far during the day, which is a record high. The stock hit a low of Rs 140.50 so far during the day.

The stock had hit a 52-week low of Rs 62.50 on 29 March 2016. It had outperformed the market over the past one month till 27 March 2017, advancing 4.55% compared with the Sensexs 1.47% rise. The scrip had also outperformed the market over the past one quarter, gaining 21.23% as against the Sensexs 11.53% rise.

The small-cap company has equity capital of Rs 17.69 crore. Face value per share is Rs 10.

Emmbi Industries said it has launched Jalasanchay Brand, the pond linersfor storing water at its newly acquired & furbished manufacturing facility at Silvassa on the auspicious day of Gudhi Padva.

Emmbi will produce under Jalsanchay Brand 4,380 ponds per year creating an extra water storage capacity of 48 million liters per day for the country.

All the manufacturing equipments used are of advanced cutting edge technology giving a special pedestal to Emmbi over the global competition.

The states of Maharashtra and Rajasthan where the company is presently active in the business, has a plan to produce 1.10 lakh & 50,000 ponds per year respectively for the next five years.

This is the new market segment with a potential size of Rs 2000 crore.

Emmbi aspires to get 10% of the market share of pond lining business in the coming years.

Emmbi Industries net profit fell 5.2% to Rs 2.39 crore on 4.3% growth in net sales to Rs 55.13 crore in Q3 December 2016 over Q3 December 2015.

Emmbi Industries is engaged in the business of manufacturing and trading of plastics products.

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Puravankara surges after exiting from investment in AP
Mar 28,2017

The announcement was made during market hours today, 28 March 2017.

Meanwhile, the S&P BSE Sensex was up 170.03 points, or 0.58% to 29,407.18.

On the BSE, 83,857 shares were traded in the counter so far, compared with average daily volumes of 68,930 shares in the past one quarter. The stock had hit a high of Rs 69.10 and a low of Rs 64.50 so far during the day. The stock had hit a 52-week high of Rs 70.40 on 24 March 2017. The stock had hit a 52-week low of Rs 37.20 on 22 November 2016.

The stock had outperformed the market over the past one month till 27 March 2017, gaining 24.69% compared with the Sensexs 1.47% rise. The scrip had also outperformed the market over the past one quarter, gaining 44.63% as against the Sensexs 11.53% rise.

The small-cap company has equity capital of Rs 118.57 crore. Face value per share is Rs 5.

Puravankara said that the company has received in aggregate of Rs 475 crore in the transaction with an unrelated third party in an arms length transaction. Consequent to the transaction, the company has transferred the entire shares in three wholly owned subsidiaries to the unrelated third party.

The transaction was enabled by a resolution passed by the board of directors on 21 March 2017, to exit from the investment of Rs 403 crore at Raidurg, Panamaktha Village, which would involve the sale of its entire shares in three wholly-owned subsidiaries of Puravankara. The transaction has been authorized on a condition that total inflow should not be less than a sum of Rs 475 crore.

On a consolidated basis, net profit of Puravankara rose 15.3% to Rs 20.09 crore on 29.1% decline in net sales to Rs 268.86 crore in Q3 December 2016 over Q3 December 2015.

Puravankara is a real estate company. The company has operations in Mumbai, Bangalore, Kochi, Chennai, Coimbatore, Hyderabad, Mysore and overseas in Dubai, Colombo and Saudi Arabia.

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Board of V-Guard Industries approves investment in GUTS Electro-Mech, Hyderabad
Mar 28,2017

V-Guard Industries announced that the Board of Directors of the Company at its meeting held on 28 March 2017 considered the proposal of taking majority stake in the equity of GUTS Electro-Mech, Hyderabad a company which is engaged in the manufacture and marketing of various kinds of domestic switch gears and current transformers, and accorded its in-principle approval to make the investment, subject to completion of due diligence and obtaining approvals from requisite authorities.

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Outcome of board meeting of ARSS Infrastructure Projects
Mar 28,2017

ARSS Infrastructure Projects announced that the Board of Directors of the Company has discussed the following businesses:

1. Board discussed and approved (resolved) One Time Final Settlement Agreement With SREI Equipment Finance by assignment/ transfer of arbitration claims on such terms & conditions as agreed upon in between company and SREI.

2. Board discussed and disapproved One Time Final Settlement with Edelweiss Asset Reconstruction Company EARC on the ground that the settlement with EARC would be considered at a time of final settlement with other Banks, shortly as huge cash outflow is involved into it.

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