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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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ITC leads losers in A group
Jul 18,2017

ITC slumped 12.42% to Rs 285.30 at 14:00 IST after Goods & Services Tax council increased the compensation cess rate on cigarettes to make total tax incidence on cigarettes in GST regime at par with the total tax incidence in pre-GST regime. The stock topped the losers in the BSEs A group. On the BSE, 84.39 lakh shares were traded on the counter so far as against the average daily volumes of 10.58 lakh shares in the past two weeks.

TV18 Broadcast tanked 5.56% at Rs 39.05. The stock was second biggest loser in A group. On the BSE, 22.11 lakh shares were traded on the counter so far as against the average daily volumes of 16.34 lakh shares in the past two weeks.

Godfrey Phillips India dropped 5.34% to Rs 1,161.90 after Goods & Services Tax council increased the compensation cess rate on cigarettes to make total tax incidence on cigarettes in GST regime at par with the total tax incidence in pre-GST regime. The stock was third biggest loser in A group. On the BSE, 72,000 shares were traded on the counter so far as against the average daily volumes of 15,000 shares in the past two weeks.

Videocon Industries declined 4.84% at Rs 27.50. The stock was fourth biggest loser in A group. On the BSE, 1.68 lakh shares were traded on the counter so far as against the average daily volumes of 6.06 lakh shares in the past two weeks.

Network 18 Media & Investments fell 3.69% to Rs 54.80. The stock was fifth biggest loser in A group. On the BSE, 2.93 lakh shares were traded on the counter so far as against the average daily volumes of 4.44 lakh shares in the past two weeks.

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Consumers across India have unanimously hailed GST: Dr Jitendra Singh
Jul 18,2017

The Union Minister of State (Independent Charge) for Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh said here today that even though there are some initial reservations among certain sections of trading community during the transition phase following GST rollout, the consumers across India have, by and large, unanimously hailed the One Nation, One Tax GST reform introduced by the Central Government.

Dr Jitendra Singh made these observations when the National President of Institute of Cost Accountants of India (ICAI), Shri Manas Kumar Thakur met Dr Jitendra Singh and informed that the ICAI had opened a website (http://www.icmai.in) which contained a helpdesk page that could be accessed by anybody from anywhere. He disclosed that, on an average, there are at least 50 to 60 important queries being received online, the response to which was being provided in a time-bound manner within 24 hours, with the help of 60 experts spread all over the country.

Dr Jitendra Singh appreciated the services rendered by ICAI and other similar organizations which had a stake in the GST implementation. He also suggested that like the Institute of Chartered Accountants of India, the Institute of Cost Accountants of India could also introduce specialized courses for its members to deal with the new nuances related to the GST.

Dr Jitendra Singh said, by and large, the GST has been welcomed by all sections of society, particularly the middle and lower classes. He said that there are certain initial issues, which are more of transitory nature and would be overcome in course of time through the mass awareness exercise launched by the Government and other agencies.

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Volumes jump at ABFRL counter
Jul 18,2017

Aditya Birla Fashion and Retail clocked volume of 4.41 lakh shares by 13:37 IST on BSE, a 9.46-times surge over two-week average daily volume of 47,000 shares. The stock fell 0.3% at Rs 179.80.

Crompton Greaves notched up volume of 3.12 lakh shares, a 9.35-fold surge over two-week average daily volume of 33,000 shares. The stock lost 3.74% at Rs 207.10.

HCL Infosystems saw volume of 38.91 lakh shares, a 9.28-fold surge over two-week average daily volume of 4.19 lakh shares. The stock surged 16.29% at Rs 54.60.

Atul clocked volume of 50,000 shares, a 8.64-fold surge over two-week average daily volume of 6,000 shares. The stock declined 0.94% at Rs 2,451.

IFB Industries saw volume of 1.04 lakh shares, a 8.14-fold rise over two-week average daily volume of 13,000 shares. The stock lost 0.23% at Rs 715.

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Negative growth have come down to 17% from 27% : FICCIs latest Manufacturing Survey
Jul 18,2017

FICCIs latest Quarterly Survey on Manufacturing suggests slight improvement in the manufacturing sector outlook in the first quarter (April - June 2017-18) of the fiscal as the percentage of respondents reporting higher production in first quarter have increased vis-n++-vis previous quarter. More importantly, FICCI Survey suggests that the percentage of respondents reporting lower production has reduced considerably over the previous quarter thereby indicating a more positive outlook in months to come. The proportion of respondents reporting higher output growth during the April - June 2017-18 quarter has risen slightly from 47% January - March 2016-17 to 49%. Respondents reporting negative growth have come down to 17% in April - June 2017-18 from 27% as reported in the previous quarter, noted FICCI Survey.

FICCIs latest quarterly survey assessed the expectations of manufacturers for Q-1 (April - June 2017-18) for eleven major sectors namely auto, capital goods, cement and ceramics, chemicals and fertilizers, electronics & electricals, leather and footwear, machine tools, metal and metal products, paper products, textiles and technical textiles, and textiles machinery. Responses have been drawn from over 300 manufacturing units from both large and SME segments with a combined annual turnover of over ₹3.5 lac crore.

However, the cause for worry was the rising cost of production (for a little over two-thirds of the respondents), the Survey noted. The cost of production as a percentage of sales for product for manufacturers in the survey has risen significantly as 69% respondents in Q-1 2017-18, against 60% respondents reported cost escalation in last quarter. This is primarily due to rise in minimum wages and raw material cost.

In terms of order books, about 47% respondents in April - June 2017-18 quarter reported higher order numbers which is almost the same as that recorded in the previous quarter.

Capacity Addition & Utilization

The average capacity utilization as reported in the survey for the manufacturing sector is about 75% for Q-4 2016-17 which is similar to that of Q-3 2016-17. The future investment outlook remains less optimistic. Even now, 74% respondents in Q-1 2017-18 as against 75% respondents in Q-4 2016-17 reported that they dont have any plans for capacity additions for the next six months. Although, the bleak investment outlook seems to be waning if Q-3 2016-17 is taken into consideration (when 77% respondents had no plans for capacity addition). High percentage implies slack in the private sector investments in manufacturing is here to continue for some more months. Large volumes of imports, under-utilised capacities and lower domestic demand from industrial sectors and OEMs are some of the major constraints which are affecting the expansion plans of the respondents.

On a broader perspective, in some sectors (like chemicals, capital goods, textiles machinery, cement, metals and paper) average capacity utilization has either remained same or declined in Q-4 of 2016-17. On the other side, some sectors including auto, textiles and electronics and electricals reported a rise in the average capacity utilization over the same period.

Inventories

As for the inventory levels, 87% of the participants in Q-4 (January - March 2016-17), as against an overwhelming 97% in Q-3 (October-December 2016), have maintained either more or same levels of inventory as their average inventory levels.

Exports

Export outlook of manufacturing sector for the first quarter of this fiscal also seems to be marginally improving as percentage of respondents expecting fall in Q-1 (2017-18) has come down from 22.8% in Q-4 (2016-17) to 18.5%.

Hiring

Hiring outlook for the sector remains subdued in near future as 73% of the sample participants in Q-1 2017-18 said that they are unlikely to hire additional workforce in next three months. However, when compared on a sequential basis, this proportion reflects a mild improvement over the previous quarter when 77% of the respondents were reportedly averse to hire additional workforce.

Interest Rate

Average interest rate paid by the manufacturers still remain high though have shown some sign of moderation with average rate of 11% but highest rates continue to be upwards of 14.5%.

Sectoral Growth

Based on expectations in different sectors, the Survey suggests that moderate growth is expected in metals, leather and footwear, machine tools and capital goods sector in Q-1 2017-18. Low growth is expected in sectors like chemicals, automotive, textiles and cement. Only in case of electronics and electricals high growth is expected for Q-1 2017-18.

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Indian Metals extends post-result gain
Jul 18,2017

Meanwhile, the S&P BSE Sensex was down 276.31 points or 0.86% at 31,798.47. The S&P BSE Small-Cap index declined 8.86 points or 0.06% at 15,901.22.

On the BSE, 1.88 lakh shares were traded on the counter so far as against the average daily volumes of 21,986 shares in the past one quarter. The stock had hit a high of Rs 593.60 and a low of Rs 579.95 so far during the day. The stock had hit a 52-week high of Rs 823 on 21 March 2017 and a 52-week low of Rs 134 on 27 July 2016.

The stock had outperformed the market over the past one month till 17 July 2017, advancing 32.35% compared with the Sensexs 3.28% rise. The stock had, however, underperformed the market over the past one quarter, declining 7.46% as against the Sensexs 9.05% rise. The scrip had outperformed the market over the past one year, surging 304.83% as against the Sensexs 15.23% rise.

The small-cap company has equity capital of Rs 26.98 crore. Face value per share is Rs 10.

Shares of Indian Metals & Ferro Alloys (IMFA) have risen 9.2% in two trading sessions to its ruling market price, from its closing of Rs 538.45 on 14 July 2017 after the company announced strong Q1 June 2017 results during market hours yesterday, 17 July 2017. The stock surged by the maximum permissible level of 5% to settle at Rs 565.35 yesterday, 17 July 2017.

IMFA reported net profit of Rs 99.92 crore in Q1 June 2017, compared with net loss of Rs 30.35 crore in Q1 June 2016. Net sales rose 68.7% to Rs 422.65 crore in Q1 June 2017 over Q1 June 2016.

Indian Metals & Ferro Alloys is a producer of ferro chrome and ferro alloys. The company operates through three segments: ferro alloys, power and mining.

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Alembic Pharmaceuticals gets ANDA approval for Olmesartan Medoxomil and Amlodipine Tablets
Jul 18,2017

Alembic Pharmaceuticals has received US Food & Drug Administration (USFDA) Approval for Olmesartan Medoxomil and Amlodipine Tablets, 20mg/5mg, 40mg/5mg, 20mg/10mg and 40mg/10mg. The approved ANDA is therapeutically equivalent to the reference listed drug product Azor Tablets, 20mg/5mg, 40mg/5mg, 20mg/10mg and 40mg/10mg of Daiichi Sankyo Inc. and is indicated in the treatment of hypertension.

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Balkrishna Industries fixes record date for 1st interim dividend
Jul 18,2017

Balkrishna Industries has fixed 07 August 2017 as record date for 1st interim dividend. The dividend will be paid on or after 11 August 2017.

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Transformers & Rectifiers India plans sub-division of shares and fund raising
Jul 18,2017

Transformers & Rectifiers India has proposed Subdivision of Equity Share from the face value of Rs. 10/- per share to Rs. 1/- per share and fund raising through QIP or preferential allotment. The Board will consider the proposal on 03 August 2017.

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PTC India hits 52-week high on recent rally
Jul 18,2017

Meanwhile, the S&P BSE Sensex was down 249.15 points, or 0.78% at 31,825.63. The S&P BSE Mid-Cap index was down 24.22 points, or 0.16% at 15,173.23.

On the BSE, 4.62 lakh shares were traded on the counter so far as against the average daily volumes of 2.61 lakh shares in the past one quarter. The stock had hit a high of Rs 121.25 so far during the day, which is also its 52-week high. The stock hit a low of Rs 116.30 so far during the day. The stock had hit a 52-week low of Rs 66.80 on 21 November 2016.

The stock had outperformed the market over the past one month till 17 July 2017, advancing 23.84% compared with the Sensexs 3.28% rise. The scrip had also outperformed the market over the past one quarter gaining 21.04% as against the Sensexs 9.05% rise. The scrip had also outperformed the market over the past one year advancing 47.89% as against the Sensexs 15.23% rise.

The mid-cap company has equity capital of Rs 296.01 crore. Face value per share is Rs 10.

Shares of PTC India rose 18.97% in five trading sessions to its current market price of Rs 119.45, from a close of Rs 100.40 on 11 July 2017.

PTC Indias net profit spurted 121.8% to Rs 78.77 crore on 10.1% increase in net sales to Rs 3159.24 crore in Q4 March 2017 over Q4 March 2016.

PTC India is engaged in the business of power and investment.

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Indiabulls Real Estate advances on fund raising plan
Jul 18,2017

The announcement was made after market hours yesterday, 17 July 2017.

Meanwhile, the S&P BSE Sensex was down 238.50 points or 0.74% at 31,836.28. The S&P BSE Mid-Cap index was down 2.65 points or 0.02% at 15,194.80.

On the BSE, 8.29 lakh shares were traded on the counter so far as against the average daily volumes of 35.93 lakh shares in the past one quarter. The stock had hit a high of Rs 209.70 and a low of Rs 200.85 so far during the day. The stock had hit a 52-week high of Rs 217.40 on 21 June 2017 and a 52-week low of Rs 57.05 on 22 November 2016.

The stock had underperformed the market over the past one month till 17 July 2017, rising 2.79% compared with the Sensexs 3.28% rise. The stock had, however, outperformed the market over the past one quarter, gaining 38.14% as against the Sensexs 9.05% rise. The scrip had also outperformed the market over the past one year, jumping 132.03% as against the Sensexs 15.23% rise.

The mid-cap company has equity capital of Rs 94.93 crore. Face value per share is Rs 2.

The company will also announce its Q1 results on 24 July 2017. On consolidated basis, Indiabulls Real Estates net profit fell 3.7% to Rs 60.18 crore on 38.4% decline in net sales to Rs 437.03 crore in Q4 March 2017 over Q4 March 2016.

Indiabulls Real Estate is a real estate development company with development projects spread across office and commercial complexes, premium residential developments, mega townships, retail spaces, hotel and resorts, special economic zones and infrastructure development.

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Moodys: Asian high-yield issuance remains robust in Q2 2017; YTD issuance above annual average
Jul 18,2017

Moodys Investors Service says that investor tolerance for lower credit quality and the refinancing needs of issuers continue to drive bond issuance in 2017, with Q2 2017 seeing the highest quarterly amount issued since Q1 2013.

A total of 25 deals totaling USD11.6 billion closed in Q2 2017 -- compared with 26 totaling USD10 billion in Q1 2017 -- the highest quarterly amount since Q1 2013, with year-to-date issuance of USD21.6 billion approaching the full-year record of USD23.3 billion set in 2013, says Annalisa DiChiara, a Moodys Vice President and Senior Credit Officer.

Furthermore, year-to-date issuance is already well above annual average issuance of USD14 billion since 2010, and we also believe that refinancing risks remain manageable and, in the absence of exogenous shocks, the market should be able to absorb upcoming maturities, adds DiChiara.

In addition downgrades moderated considerably in Q2 2017 to 2.79x, approaching the long-term average of 2.41x, adds DiChiara. Although credit quality showed signs of improvement, around 47% of corporate family ratings were in the single-B category and 13% in the Caa-C range says DiChiara. And B3 and below remained elevated at 23 companies or 17.8% of the total.

During Q2 2017, B3-rated bonds accounted for a significant portion of issuance or USD4.6 billion, while China Evergrande Groups (B2 stable) USD3.8 billion accounted for the bulk of that amount.

Furthermore, China-based corporates dominated issuance at 70% of the total, with Indonesia at 13%, India at 12% and Macau at 5%.

Moodys further notes that the number of B3 and below companies have generally been on the rise since 2012, and stood at a 5-year high of 17.8% of our Asian high yield portfolio at 30 June 2017. Such issuers accounted for USD9.8 billion of rated debt, with around US2.3 billion maturing by 30 June 2018.

In total, USD128.6 billion of rated and unrated maturities are scheduled through to 2021, and USD6.7 billion of rated bonds will mature by 30 June 2018.

Meanwhile, Moodys Asian Liquidity Stress Index (Asian LSI) weakened in June, rising to 25.6% from 25.2% in May 2017.

The Asian LSI measures the percentage of high-yield companies with SGL-4 scores as a proportion of high-yield corporate family ratings (CFRs) and decreases when speculative-grade liquidity improves.

The June figure ended six months of continuous improvement, and the reading now remains just above the long-term average of 22.9%, highlighting that weak liquidity is still a concern for many companies in Asia.

Although Moodys has assigned SGL scores to all 129 high-yield rated companies, only 102 of these companies have rated debt outstanding totaling $72.6 billion at 30 June 2017. In addition, the amount of rated debt in June 2017 was at its highest level since December 2010. At end-June, SGL-1 and SGL-2 companies together accounted for 48.5% of the rated debt outstanding.

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Ashika Credit Capital to hold board meeting
Jul 18,2017

Ashika Credit Capital will hold a meeting of the Board of Directors of the Company on 27 July 2017, to approve the Un-Audited Financial Results of the company along with Limited Review report for the quarter ended 30th June 2017.

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Refex Industries to hold board meeting
Jul 18,2017

Refex Industries will hold a meeting of the Board of Directors of the Company on 27 July 2017, to approve the Un-Audited Financial Results of the company along with Limited Review report for the quarter ended 30th June 2017.

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Srestha Finvest to hold board meeting
Jul 18,2017

Srestha Finvest will hold a meeting of the Board of Directors of the Company on 12 August 2017, to consider and approve unaudited results for the year ended 30th June 2017, to consider and take on record other compliance related matter pertaining to quarter ended 30 June 2017, and to approve and fix the holding of Annual General Meeting of the company to be held on 28th September 2017

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Sahyog Multibase to hold EGM
Jul 18,2017

Sahyog Multibase announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 19 August 2017 .

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