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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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Power Purchase Agreement for Rewa Ultra Mega Solar Power Project signed
Apr 17,2017

Union Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines, Shri Piyush Goyal, presided over the signing of Power Purchase Agreements (PPA) between Delhi Metro Railways Corporation (DMRC) & Madhya Pradesh Power Management Company (MPPMC) with Rewa Ultra Mega Solar Limited, the implementing agency for the worlds largest singlen++site solar power project, the Rewa Ultra Mega Solar Power Project (UMSPP, 750MW) in Bhopal today. Other dignitaries present on the occasion were Union Minister for Urban Development, Housing & Urban Poverty Alleviation and Information & Broadcasting, Shri M. Venkaiah Naidu and Shri Shivraj Singh Chouhan, Chief Minister of Madhya Pradesh.

Addressing the gathering, Shri Naidu said that Madhya Pradesh is a special state having huge resource base that is being harnessed under Shri Chouhans leadership. Taking a huge step towards realizing Prime Minister Shri Narendra Modis vision of 24x7 Affordable, Quality Power for All, Madhya Pradesh has successfully brought down the rate of solar power to Rs. 3.30/ unit, which is a huge revolution in its own right, Shri Naidu noted. The Minister said that seven cities in the State qualified as smart cities in the first round comprising a total of 20 cities. This has been made possible only through peoples active participation and the dynamic leadership in the State, Shri Naidu said.

In his address, Shri Chouhan said that the Madhya Pradesh government has set 3 guiding principles of its performance - equitable growth, social empowerment and sustainable development. The Chief Minister noted that a decade ago even water, electricity and roads used to be challenges in the State but now due to the dynamic development model being implemented, the year on year agricultural growth will touch 25% this year and milestones like the cheapest solar power in the country are being achieved in Rewa. Madhya Pradesh has become the leading state in renewable energy sector in India, the Chief Minister said.

Congratulating Shri Chouhan on his unrelenting efforts in the direction of achieving the unprecedented scaling up of the renewable energy sector in the State, Shri Piyush Goyal informed that the Rewa UMSPP had achieved historic results with a record low first year tariff of Rs 2.97 per unit of electricity and a levelised tariff of Rs 3.30 over the term of 25 years, in the marathon online auction, which lasted 33 hours between biggest of the Global solar companies. The Rewa UMSPP becomes the first power project to conduct interstate sale of solar power to Delhi Metro. There would be huge savings to the Delhi Metro because of per unit cost of power reducing from over Rs. 4.50 to Rs. 3.30, Shri Goyal informed.

Shri Goyal also mentioned that with Prime Minister Narendra Modis leadership and cooperation of all Chief Ministers of various States, in the last 3 years, renewable energy has seen a growth of over 370 %. As compared to 2,600 MW of installed solar power capacity in 2014, today in India there is a total of 12,200 MW of installed solar power capacity and the country would achieve the 20,000MW solar power capacity target 5 years ahead of schedule by the end of 2017, the Minister noted.

Shri Goyal appreciated the proactive way in which the Madhya Pradesh Government provided financial guarantees to make the Rewa PPAs viable. The Minister further informed that the Rewa PPA has been accepted by the central government as a standard model for all other state governments to emulate and achieve lowest electricity tariff rates through competitive bidding.

Listing out the factors responsible for the success of the Rewa UMSPP, Shri Goyal included partnership of all stakeholders; outcome-oriented decisive leadership; root cause analysis of causes of failure on previous bids; time-bound execution; innovative financial model like partnering with International Finance Corporation (IFC); focus on transparency and technology including green energy corridor for evacuation of solar power; assigning responsibility and fixing accountability of implementation at each step.

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Japan Stocks snap four-session losing streak
Apr 17,2017

The Japan share market finished session higher after recouping losses late afternoon on Monday, 17 April 2017, snapping four-session losing streak, supported by buying on dips by individual investors. Speculation about the Bank of Japans purchase of exchange-traded funds also helped push up the market. However, market topside was capped amid yens appreciation against the dollar and growing tensions on the Korean peninsula. The 225-issue Nikkei average gained 19.63 points, or 0.11 percent, to end at 18,355.26. The TOPIX index of all First Section issues finished up 6.62 points, or 0.45 percent, at 1,465.69. Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 2177 to 868 and 289 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 1.23% to 23.03 a new 3-month high.

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Board of Orient Paper & Industries recommends dividend
Apr 17,2017

Orient Paper & Industries announced that the Board of Directors of the Company at its meeting held on 17 April 2017, inter alia, have recommended the dividend of Rs 0.5 per equity Share (i.e. 50%) , subject to the approval of the shareholders.

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Rupee sags
Apr 17,2017

Rupee closed lower at 64.5975/6050 per dollar on Monday (17 April 2017), versus its previous close of 64.5025/5200 per dollar on Thursday.

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Nation-wide training programme launched for Elected Women representatives (EWRs) of Panchayats
Apr 17,2017

A comprehensive module for capacity building of Elected Women Representatives (EWRs) of Panchayats and a training program for Trainers of women panchayat leaders across the country was launched by the Ministry of Women and Child Development in collaboration with the Ministry of Panchayati Raj. The training program seeks to empower EWRs of panchayats by enhancing their capacity, capability and skill in governance and administration of villages.

Addressing the select women trainers/women sarpanches of Jharkhand at the video conference today, Smt Maneka Sanjay Gandhi said that inspite of 33% reservation for women in the panchayat bodies, the EWRs continue to remain ineffective since they do not have appropriate knowledge and skill to administer the village, and the show continues to be run by their husbands.

These women representatives will have to be trained in order to ensure that they take up the responsibility of all the tasks entrusted upon them on being elected, Smt Maneka Gandhi said. The Minister explained that it is due to this reason, the WCD Ministry has initiated this countrywide program of training the women sarpanches and other women representatives at the grassroots level in various areas like engineering (building of roads, drains, latrines etc.), finance, social development, education, health, and environment among others. Similarly, several new schemes have been launched by the Prime Minister , Shri Narendra Modi which bring benefit to the common man especially those in distress and the under privileged. The women sarpanches can be helpful in taking these schemes to the people at the grassroots level, the Minister said. These schemes include Fasal Beema Yojana, Pradhanmantri Awas Yojana, Suraksha Bima Yojana, Sukanya Samridhi Yojana, maternity benefits schemes among others. Apart from this, the training programme will help to raise these women to the next level of leadership , said Smt Maneka Gandhi.

The WCD Minister said that safety of women, education of the girl child, health of women, creation of assets under MGNREGA, immunization and ensuring nutrition through lakhs of Anganwadis of the country have become important issues at the grassroots level in which the women sarpanches can play a pivotal role in effective delivery. The Minster suggested that the women sarpanches should form a whatsapp group and share their good practices as well as assist one another in finding solutions to common problems.

Speaking on the occasion, the Union Minister for Panchayati Raj, Rural Development and Drinking Water and Sanitation, Shri Narendra Singh Tomar said that under the 14th Finance Commission, the Panchayats will get Rs 2 Lakh crore in 5 years as against the earlier amount of Rs 30,000 crore for the overall development of the villages. He underlined the need for greater accountability, honesty and transparency in the execution of the developmental projects like building of roads, drainage system, toilets, farm ponds and dwelling units which he hoped will be ensured by the newly trained women representatives.

Shri Tomar laid stress on advance planning by the Gram Panchayats to free their villages from scourges of poverty and malnutrition. He said that women Sarpanches can form groups in the villages to spread social awareness on schemes like Swachh Bharat Abhiyan, Pradhan Mantri Aawas Yojana, Immunisation, school enrolment, various insurance schemes for farmers and common man, benefits for pregnant women and BHIM App for cashless transaction. The training programme will lead to the empowerment of Women Sarpanches for the overall development of their villages and the country, explained the Panchayati Raj Minister.

The Chairperson, National Commission for Women, Smt Lalitha Kumaramangalam said that the training program will be closely monitored to ensure proper learning by the sarpanches and EWRs. Smt Lalitha Kumaramangalam also expressed hope that the EWRs will emerge as future leaders of the country.

In the first phase, 40 master trainers of Jharkhand will be trained at the State institute of Rural Development, Ranchi. In the second phase, approximately 3000 EWRs will be trained by these master trainers in the three districts of Simdega, Pakur and Chatra of Jharkhand.

Starting with Jharkhand, similar training programs will be organised in different states throughout the country with the help of National Institute of Rural Development, State Institutes of Rural Development and Panchayati Raj Departments of the States to train EWRs throughout the county. There are currently around 13 lakhs EWRs in panchayats across the nation.

The module has been prepared by the National Commission for Women of the WCD Ministry in collaboration with TISS. The module contains training guidelines, timeline, implementation guidelines, training schedules and monitoring and evaluation. The training will be participatory with group discussions, brainstorming lectures, demonstrations, field visits, case studies, games, exercise, role play, small workshops and individual assignments. The module discusses various topics like What is an ideal Panchayat, composition of the Gram Panchayat, development schemes and programmes, resources of panchayats and their utilization, laws for protection of the vulnerable sections among others.

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Gemini Communication reports consolidated net loss of Rs 0.01 crore in the March 2017 quarter
Apr 17,2017

Net Loss of Gemini Communication reported to Rs 0.01 crore in the quarter ended March 2017 as against net loss of Rs 16.49 crore during the previous quarter ended March 2016. Sales declined 72.13% to Rs 3.28 crore in the quarter ended March 2017 as against Rs 11.77 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 2.31 crore in the year ended March 2017 as against net loss of Rs 22.79 crore during the previous year ended March 2016. Sales declined 78.30% to Rs 6.68 crore in the year ended March 2017 as against Rs 30.78 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales3.2811.77 -72 6.6830.78 -78 OPM %7.62-119.54 --25.90-60.88 - PBDT0.17-12.72 LP -1.73-18.74 91 PBT-0.01-16.59 100 -2.39-22.90 90 NP-0.01-16.49 100 -2.31-22.79 90

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Bhansali Engineering Polymers standalone net profit rises 1908.00% in the March 2017 quarter
Apr 17,2017

Net profit of Bhansali Engineering Polymers rose 1908.00% to Rs 15.06 crore in the quarter ended March 2017 as against Rs 0.75 crore during the previous quarter ended March 2016. Sales rose 23.56% to Rs 192.73 crore in the quarter ended March 2017 as against Rs 155.98 crore during the previous quarter ended March 2016.

For the full year,net profit rose 108.33% to Rs 34.77 crore in the year ended March 2017 as against Rs 16.69 crore during the previous year ended March 2016. Sales rose 17.93% to Rs 626.03 crore in the year ended March 2017 as against Rs 530.86 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales192.73155.98 24 626.03530.86 18 OPM %11.377.40 -10.017.06 - PBDT25.699.29 177 61.3028.93 112 PBT24.327.09 243 55.8823.39 139 NP15.060.75 1908 34.7716.69 108

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Gemini Communication reports standalone net profit of Rs 0.10 crore in the March 2017 quarter
Apr 17,2017

Net profit of Gemini Communication reported to Rs 0.10 crore in the quarter ended March 2017 as against net loss of Rs 5.08 crore during the previous quarter ended March 2016. Sales declined 71.82% to Rs 3.28 crore in the quarter ended March 2017 as against Rs 11.64 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 2.19 crore in the year ended March 2017 as against net loss of Rs 8.43 crore during the previous year ended March 2016. Sales declined 78.10% to Rs 6.68 crore in the year ended March 2017 as against Rs 30.50 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales3.2811.64 -72 6.6830.50 -78 OPM %7.01-42.96 --27.69-27.02 - PBDT0.28-4.83 LP -1.72-7.90 78 PBT0.10-5.18 LP -2.27-8.53 73 NP0.10-5.08 LP -2.19-8.43 74

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Reliance Infrastructure reports consolidated net profit of Rs 40.94 crore in the March 2017 quarter
Apr 17,2017

Net profit of Reliance Infrastructure reported to Rs 40.94 crore in the quarter ended March 2017 as against net loss of Rs 327.42 crore during the previous quarter ended March 2016. Sales declined 10.30% to Rs 4992.55 crore in the quarter ended March 2017 as against Rs 5566.01 crore during the previous quarter ended March 2016.

For the full year,net profit rose 87.62% to Rs 1425.18 crore in the year ended March 2017 as against Rs 759.63 crore during the previous year ended March 2016. Sales declined 5.72% to Rs 24269.26 crore in the year ended March 2017 as against Rs 25741.62 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales4992.555566.01 -10 24269.2625741.62 -6 OPM %14.037.43 -19.1218.94 - PBDT195.6931.00 531 2545.952095.47 21 PBT-340.97-428.22 20 857.62551.58 55 NP40.94-327.42 LP 1425.18759.63 88

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Reliance Infrastructure reports standalone net profit of Rs 204.89 crore in the March 2017 quarter
Apr 17,2017

Net profit of Reliance Infrastructure reported to Rs 204.89 crore in the quarter ended March 2017 as against net loss of Rs 158.05 crore during the previous quarter ended March 2016. Sales declined 2.44% to Rs 2097.26 crore in the quarter ended March 2017 as against Rs 2149.71 crore during the previous quarter ended March 2016.

For the full year,net profit rose 29.61% to Rs 1288.41 crore in the year ended March 2017 as against Rs 994.08 crore during the previous year ended March 2016. Sales declined 9.99% to Rs 8627.59 crore in the year ended March 2017 as against Rs 9585.13 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales2097.262149.71 -2 8627.599585.13 -10 OPM %23.664.39 -23.2919.65 - PBDT191.67191.94 0 2288.502140.56 7 PBT-25.08-34.78 28 1358.061237.68 10 NP204.89-158.05 LP 1288.41994.08 30

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Gujarat Cotex to hold board meeting
Apr 17,2017

Gujarat Cotex will hold a meeting of the Board of Directors of the Company on 27 May 2017, for considering audited financial results for last quarter and for entire financial year ending 31 March 2017

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Kiran Syntex to hold board meeting
Apr 17,2017

Kiran Syntex will hold a meeting of the Board of Directors of the Company on 27 May 2017, for considering audited financial results for last quarter and for entire financial year ending 31 March 2017

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Padmanabh Alloys & Polymers to hold board meeting
Apr 17,2017

Padmanabh Alloys & Polymers will hold a meeting of the Board of Directors of the Company on 27 May 2017, for considering audited financial results for last quarter and for entire financial year ending 31 March 2017

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Board of Reliance Infrastructure recommends final dividend
Apr 17,2017

Reliance Infrastructure announced that the Board of Directors of the Company at its meeting held on 15 April 2017, inter alia, have recommended the final dividend of Rs 9 per equity Share (i.e. 90%) , subject to the approval of the shareholders.

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Premier Synthetics to hold EGM
Apr 17,2017

Premier Synthetics announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 13 May 2017 .

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