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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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Trident gets ratings for commercial paper
Apr 12,2017

Trident announced that India Ratings & Research has assigned ratings for commercial paper programme as under -

Commercial Paper (Rs 50 crore) - IND A1+

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NBCC (India) gains on good order book of subsidiary
Apr 12,2017

The announcement was made after market hours yesterday, 11 April 2017.

Meanwhile, the S&P BSE Sensex was up 6.10 points, or 0.02% to 29,794.45.

On the BSE, 16,000 shares were traded in the counter so far, compared with average daily volumes of 2.53 lakh shares in the past one quarter. The stock had hit a high of Rs 184 and a low of Rs 182.05 so far during the day.

The stock hit a record high of Rs 199.57 on 5 October 2016. The stock hit a 52-week low of Rs 117.73 on 24 June 2016.

The stock had outperformed the market over the past one month till 11 April 2017, rising 6.22% compared with 2.91% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 0.53% as against Sensexs 9.76% rise.

The large-cap company has equity capital of Rs 180 crore. Face value per share is Rs 2.

NBCC (India) announced that its subsidiary, Hindustan Steelworks Construction (HSCL), as on 1 April 2017, had an order book of Rs 8000 crore (approximately). For the financial year 2015-2016, the companys total revenue and net profit was Rs 1416 crore (approximately) and Rs 30.19 crore respectively. Presently, HSCL is a debt free company.

On a consolidated basis, NBCC (India)s net profit rose 15.9% to Rs 64.42 crore on 4% increase in net sales to Rs 1413.77 crore in Q3 December 2016 over Q3 December 2015.

NBCC (India) is a blue-chip Government of India (GoI) Navratna Enterprise under the Ministry of Urban Development, in construction sector. The GoI held 75% stake in the firm (as per shareholding pattern as on 22 February 2017).

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Grasim Industries in focus after ABNL merger approval
Apr 12,2017

Grasim Industries will be watched. The shareholders of Grasim, Aditya Birla Nuvo (ABNL) and Aditya Birla Financial Services (ABFSL) at their meetings held on 6 and 10 April 2017, respectively have approved the scheme of amalgamation of ABNL with Grasim followed by the demerger and listing of the financial services business, in line with the NCLT order and the Sebi requirements. The announcement was made after market hours yesterday, 11 April 2017.

Tech major Wipro said it has completed the acquisition of Brazilian IT service provider InfoSERVER. The impact of the buyout will reflect in the financials of the company from the Q1 June 2017, it added. In January this year, Wipro signed an agreement to acquire InfoSERVER, an IT service provider focused on the Brazilian market for $8.7 million. The announcement was made after market hours yesterday, 11 April 2017.

Tata Power Company will be in focus. The company announced after market hours yesterday, 11 April 2017, that the Supreme Court on Tuesday, 11 April 2017, conveyed its judgment on the Compensatory Tariff mailer on the Mundra Ultra Mega Power Projects (UMPP). The order verbally conveyed set aside the previous favourable order of Appellate Tribunal for Electricity (APTEL) which had allowed compensatory tariff on account of Forced Majeure conditions at Indonesia. It did not mention about the use of Regulatory Powers of the Central Electricity Regulatory Commission (CERC) in adjudicating compensatory tariff as per previous order. The final order has got uploaded in the evening and the company is studying the same. The company will continue to pursue all alternatives options at Coastal Gujarat Power (CGPL), including sourcing of competitive coal from other relevant geographies as also use low grade and blended coal options to contain the onslaught of under recovery at Mundra UMPP.

Reliance Industries (RIL) will be watched. RILs subsidiary, Reliance Jio Infocomm (Jio) announced that the Jio Summer Surprise has been fully withdrawn, following the advice of Telecom Regulatory authority of India (TRAI). Jio further announced new all unlimited plans with special benefits, exclusively for its Jio Prime members and aimed at encouraging Jio subscribers to live the Digital Life without restrictions - Jio Dhan Dhana Dhan! The plans start with the most affordable Rs. 309 all unlimited plan, which provides unlimited SMS, calling and data (1GB per day at 4G speed) for 3 months on first recharge. The company also announced the Rs 509 all unlimited plan for daily high data users offering unlimited SMS, calling and data (2GB per day at 4G speed) for 3 months on first recharge. The announcement was made after market hours yesterday, 11 April 2017.

Vedanta and Cairn India announced after market hours yesterday, 11 April 2017, that the merger of Cairn India with Vedanta pursuant to the scheme of arrangement has become effective. Thursday, 27 April 2017 has been fixed as the record date for determining the list of the shareholders of Cairn India to whom the equity and preference shares of Vedanta will be allotted as per terms of the scheme. Shareholders of Cairn India will receive, for each equity share held, one equity share in Vedanta of face value Rs 1 each and four 7.5% redeemable preference share (RPS) in Vedanta with a face value of Rs 10 each.

Cairn India shareholders as on said record date, who will become shareholders of Vedanta, would also receive an interim dividend of Rs 17.70 per equity share as approved by the board of Vedanta on 30 March 2017. No shares will be issued to Vedanta or any of its subsidiaries for their shareholding in Cairn India. Vedanta will arrange for a third-party facility enabling a cash exit for RPS holders at par within 30 days from issuance.

This merger consolidates Vedantas position as one of the worlds largest diversified natural resources companies, with world-class, low-cost assets in metals & mining and oil & gas. The merged company will have a larger pro forma market capitalisation of $15.60 billion, and higher free float of 49.9%.

NBCC (India) announced that its subsidiary, Hindustan Steelworks Construction (HSCL), as on 1 April 2017, had an order book of Rs 8000 crore (approximately). For the financial year 2015-2016, the companys total revenue and net profit was Rs 1416 crore (approximately) and Rs 30.19 crore respectively. Presently, HSCL is a debt free company. The announcement was made after market hours yesterday, 11 April 2017.

Jammu & Kashmir Bank said that its board will meet on Saturday, 15 April 2017 to consider preferential issue of equity shares for an amount of Rs 282 crore to the Government of Jammu & Kashmir, the promoter and majority shareholder of the bank. The board will also consider rising funds through allotment of unsecured, redeemable, subordinated, non convertible, Basel III Compliant Tier 2 Bonds in the nature of debentures/bonds aggregating to Rs 1000 crore. The announcement was made after market hours yesterday, 11 April 2017.

Pincon Spirit announced that its board at a meeting held on 11 April 2017, approved a proposal to raise funds through issue of up to 57.06 lakh equity share warrants on preferential basis to Monoranjan Roy, Aptex Enterprises, K.D. Liquor & Fertilizer, Majestic Bottlers, Priya Purnima Credits, Westwell Iron & Steel, Maa Tarini Natural Resources, Sudarshan Commtrade, Ecospace Infotech and Pincers Commodities. The announcement was made after market hours yesterday, 11 April 2017.

Fag Bearings India turns ex-dividend today, 12 April 2017, for dividend of Rs 12 per share for the year ended 31 December 2016.

KSB Pumps turns ex-dividend today, 12 April 2017, for dividend of Rs 5.50 per share for the year ended 31 December 2016.

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Update on Scheme of Arrangement between Cairn India and Vedanta
Apr 11,2017

Cairn India and Vedanta announced on 11 April 2017 that the merger of Cairn India with Vedanta pursuant to the Scheme of Arrangement hasbecome effective.

27 April 2017 has been fixed as the Record date for determining the list of the shareholders of Cairn India to whom the equity and preference shares of Vedanta will be allotted as per terms of the Scheme. Shareholders of Cairn India will receive for each equityshare held:

-1 (One) equity share in Vedanta of face value Rs 1 each
- 4 (Four) 7.5% Redeemable Preference Share in Vedanta with a face value of Rs 10 each

Cairn India shareholders as on said Record Date, who will become shareholders of Vedanta, would also receive an interim dividend of Rs. 17.70 per equity share as approved by the Board of Vedanta on 30 March 2017.

No shares will be issued to Vedanta or any of its subsidiaries for their shareholding in Cairn India.

Vedanta will arrange for a third-party facility enabling a cash exit for RPS holders at par within 30 days from issuance.

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Cera Sanitaryware issues Commercial Paper worth Rs 30 crore
Apr 11,2017

Cera Sanitaryware has issued Commercial Paper of Rs. 30 crore value dated 11 April 2017 having maturity on 28 September 2017. The said commercial paper is issued for the working capital requirements of the company.

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Palred Technologies to invest Rs 30 crore in Palred Online Technologies
Apr 11,2017

Palred Technologies announced that its Board, in the Meeting held on 11 April 2017, approved investment of Rs 30 crore in its subsidiary Palred Online Technologies which owns and operates LatestOne.com - lndias largest e-tailer for mobile accessories.

Post this investment, LatestOne.com will be valued at Rs 225 crore. The actual cash infusion into LatestOne.com, post this round will be Rs 60 crore, making it one of the most capital efficient vertical focused e-tailers in the Country.

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Reliance Jio Infocomm introduces Jio Dhan Dhana Dhan plans
Apr 11,2017

Reliance Jio Infocomm announced today that the Jio Summer Surprise has been fully withdrawn, following the advice of Telecom Regulatoryauthority of India (TRAI).

Jio further announced new ALL UNLIMITED plans with special benefits, exclusively for its Jio Prime members and aimed at encouraging Jio subscribers to live the Digital Life without restrictions - Jio Dhan Dhana Dhan!

The plans start with the most affordable Rs. 309 ALL UNLIMITED PLAN, which provides Unlimited SMS, calling and data (1GB per day at 4G speed) for 3 months on first recharge.

The company also announced the Rs. 509 ALL UNLIMITED PLAN for daily high data users offering Unlimited SMS, calling and data (2GB per day at 4G speed) for 3 months on first recharge.

Considering the special benefits that are available to Jio Prime members, customers who were unable to subscribe to Jio Prime for any reason, can continue to do so by paying Rs. 408 or Rs. 608 (Jio Prime + recharge price) to avail these benefits.

Existing Jio customers who have not done their first recharge so far, need to do so by 15 April 2017 to avoid degradation and/or discontinuationof services.

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Board of Repco Home Finance defers its decision to issue NCDs to IFC
Apr 11,2017

Repco Home Finance announced that the Board has deferred its decision with regard to raising funds by a issue of secured redeemable non convertible non cumulative taxable debentures (SRNCD) to International Finance Corporation.

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Board of Gammon India approves various restructure proposals
Apr 11,2017

Gammon India announced that the Board of Directors of the Company at its meeting held on 11 April 2017 has considered and approved certain restructuring proposals -

To sell Gammon House for consideration of Rs 10 lakh to Gammon Retail Infrastructure, a wholly owned subsidiary of the Company.

To sell Civil EPC Business of the Company for consideration of Rs 10 lakh to Gammon Transmission, a wholly owned subsidiary of the Company.

To sell upto 49% of its stake in subsidiary - Gammon Power to Gammon Retail Infrastructure, a wholly owned subsidiary of the Company for consideration of Rs 5 lakh.

To sell upto 90% of its stake in its material subsidiary - Metropolitian Infrahousing to its wholly owned subsidiary - Franco Tosi Hydro for a consideration of Rs 20 lakh.

To sell upto 90% stake in each of its subsidiaries viz (i) Gammon Transmission, (ii) Franco Tosi Hydro and (iii) Gammon Retail Infrastructure in favour of strategic investors.

To sell off the Companys shareholding in indirect subsidiary - Preeti Townships in favour of strategic investors at fair value.

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Outcome of board meeting of Hilton Metal Forging
Apr 11,2017

Hilton Metal Forging announced that the Board of Directors of the Company at its meeting held on 11 April 2017 has considered and executed various documents in respect of financial assistance obtained from Sikkim Ferro Alloys.

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Outcome of board meeting of Mangal Credit & Fincorp
Apr 11,2017

Mangal Credit & Fincorp announced that the Board of Directors of the Company at its meeting held on 11 April 2017 has approved the following resolutions -

Transfer of shares of Chakshu Realtors.
Propose to list with NSE.

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Board of Shamrock Industrial Co approves appointment of director
Apr 11,2017

Shamrock Industrial Co announced that the Board of Directors at its meeting held on 10 April 2017 has considered and approved:

1.The appopintment of Surbhi Inani as the Company Secretary cum Compliance Officer of the Company.

2.The appointment of Ketan Parikh (DIN: 07787288) as Independent Director.

3.The appointment of Bibhutinarayan Shribastak (DIN: 07787348) as Independent Director.

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Bajaj Auto announces resignation of director
Apr 11,2017

Bajaj Auto announced that J N Godrej an Independent Director has tendered his resignation as director of the Company with effect from 10 April 2017.

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NTPC provides update on Maitree Super Thermal Power Project
Apr 11,2017

NTPC announced that Bangladesh India Friendship Power Company, a 50:50 Joint Venture Company between NTPC and Bangladesh Power Development Board has achieved Financial Closure on 10 April 2017 to set up 1320 MW (2 x 660 MW) Coal based Maitree Super Thermal Power Project at Rampal in Bagerhat District of Khulna division, Bangladesh. An agreement was signed with Indian Exim Bank to provide loan up to USD 1.6 Billion for financing this project.

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Board of Palred Technologies approves investment of Rs 30 crore in Palred Online Technologies
Apr 11,2017

Palred Technologies announced that the Board of Directors at its meeting held on 11 April 2017 has considered and approved investment of Rs 30 crore in Palred Online Technologies @62.23 per share increasing its ownership to 79.10% in subsidiary company.

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