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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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Indian Hotels Co to hold EGM
Nov 25,2016

Indian Hotels Co announced that the Extra Ordinary General Meeting (EGM) of the Company will be held on 20 December 2016.

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Vedanta to consider offer fund raising through NCDs offer upto Rs 500 cr
Nov 25,2016

Vedanta announced that the Company proposes to offer Rated Secured Redeemable Non-Convertible Debentures aggregating upto Rs. 500 crore and in this regard is holding a meeting of its duly constituted Committee of the Board on 30 November 2016, The above issuance is pursuant to the approval of the Shareholders passed vide Special Resolution at the 50th and 51st Annual General Meeting of the Company held on 11 July 2015 and 29 June 2016, respectively and the Board of Directors resolution passed at its meeting held on 29 July 2015.

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Board of Sundaram Finance approves draft scheme of amalgamation
Nov 25,2016

Sundaram Finance announced that the Board of Directors, at their meeting held on 25 November 2016, have decided to merge Sundaram Infotech Solutions, the Companys wholly owned subsidiary, with the Company and approved the draft Scheme of Amalgamation. The Scheme is subject to all necessary approvals.

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Asia Pacific Market: Stocks end higher
Nov 25,2016

Asia Pacific share market finished higher on last trading session of the week, Friday, 25 November 2016, as the Thanksgiving break in the United States helped slow a relentless surge in the dollar that has sucked capital out of most emerging markets. Wall Street was closed on Thursday for the Thanksgiving holiday and trading will end early on Friday.

Strong U.S. manufacturing and consumer data this week have bolstered the case for higher interest rates. The dollar index has risen 0.5% this week, and almost 4% since Nov. 8.

Crude oil prices were mostly steady as investors looked to next weeks meeting of the Organization of the Petroleum Exporting Countries (OPEC) for clarity on proposed output caps. U.S. crude futures were flat at $47.92, set to clock a weekly increase of 5%, building on last weeks 5.3% jump. Global benchmark Brent crude slipped 0.1% to $48.93, on track for a weekly gain of 4.4%.

Gold lost 1% to touch its lowest level in 9-1/2 months in Asian trade on Friday, on track to post a third consecutive weekly decline, as the dollar extended its bull run against the yen on the back of rising bond yields. Spot gold was down 0.8% at $1,173.56 an ounce. Bullion shed over 8% so far this month and has lost over $160 an ounce since the peak after the U.S. election on Nov. 9, hurt by a strong dollar and surging Treasury yields as investors bet on higher growth and inflation under U.S. president-elect Trump.

Among Asian bourses

Australia Market hits 3-month high

Australian share market closed at highest level in three months, due to continued demand for mining and energy stocks, thanks to gains in commodity prices, including copper and iron ore. At the closing bell, the benchmark S&P/ASX 200 index rose 22.70 points, or 0.41%, to 5507.80, its highest level since August 26, while the broader All Ordinaries index was up 21.50 points, or 0.39%, to close at 5570.50.

Shares of energy companies also found support on renewed hopes of an OPEC production cut deal next week. Woodside Petroleum inclined by 1.1% to A$31.10, Origin Energy 0.8% to A$6.07, and Santos 0.2% to A$4.19.

Mining stocks closed stronger, led by BHP Billiton, up 2.3% to A$26.50, after ratings agency Moodys upgraded the mining giants outlook to stable from negative. Moodys said it expects the company to report improved margins and cash flow throughout next year. Rio Tinto gained 2.4% to A$61.76.

Shares of financial players mostly lower on profit booking. Among major banks, Westpac shed 0.3% to A$31.53, Australia & New Zealand Banking Group 0.2% to A$28.28, and Commonwealth Bank of Australia 0.3% to A$78.17, while National Australia Bank rose 0.5% to A$29.01.

Tatts Group gained 7.1% to A$4.21 after Tabcorp took control of a 10% stake in the gaming firm for about A$638 million. The move comes just over a month after the companies announced an A$11.3 billion merger.

Nikkei hits 11-months high

The Japan share market finished at an 11-month high, as risk sentiments underpinned by yen depreciation against greenback. Total 22 out of 33 TSE industry category on the main section inclined, led by Transportation Equipment, Precision Instruments, Electric Power & Gas, Nonferrous Metals, and Warehousing & Harbor Transportation Services issues, while Banks, Real Estate, Marine Transportation, and Fishery, Agriculture & Forestry issues being major decliners. The benchmark Nikkei 225 index added 0.26%, or 47.81 points, to close at 18,381.22, while the broader Topix index of all first-section issues gained 0.31%, or 4.57 points, to 1,464.53.

Shares of export-oriented firms extended rally as the yen depreciated to 113-level against greenback. A softer yen is positive to the stock market as it amplifies into exporters profitability. Honda Motor Corp surged 2% to 3345 yen. Ajinomoto Co Inc rose 2.4% to 2213 yen.

China Stocks end stronger

Mainland China stock market closed stronger, due to gains in real estate and banking shares on signs that the economy is on steadier footing were more than offset by losses in resources shares on profit booking. The blue-chip CSI300 index rose 0.93%, to 3,521.30, while the Shanghai Composite Index gained 0.62% to 3,261.94 points. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.4% to 2,129.84. For the week, the CSI300 rose 3%, while the SSEC gained 2.2%, its best week since mid-November.

Chinas yuan continued depreciation against greenback of Friday, hitting a lowest point since June 2008 as the Peoples Bank of China continues to devalue the currency. The central parity rate of the Chinese yuan weakened for the third straight trading day by falling 83 basis points to 6.9168 against the US dollar. Traders are allowed to trade up to 2% either side of the reference point for the day.

Hong Kong Stocks closed higher

The Hong Kong stock market advanced today, partly aided by steady money inflows from China as a cross-border link will be launched soon. The Thanksgiving break in the United States also helped slow a relentless surge in the U.S. dollar that has sucked capital out of most emerging markets. The market has witnessed relatively strong inflows from Chinese investors via the Shanghai-Hong Kong Stock Connect, as a sister investment link connecting Hong Kong and Shenzhen will be launched soon. Most sectors rose, with financial and consumer related stocks leading the gains. The Hang Seng Index ended up 0.51%, or 114.96 points, to 22,723.45 and the Hang Seng China Enterprises index added 1.15%, or 111.46 points, to 9,9790.23. Turnover increased to HK$56.2 billion from HK$55.8 billion on Thursday.

Chinese financial players attracted fund buying. China Life (02628) gained 3.9% to HK$22.7 after CICC and ICBAs bullish comments. Ping An (02318) added 2% to HK$42.25. Mainland lenders were also firmer. CCB (00939) put on 1% to HK$5.75. ICBC (01398) added 1.3% to HK$4.67.

Mengniu Dairy (02319) soared 4.6% to HK$16.32 becoming the top blue-chip gainer. It was reported that the companys call options turnover has risen significantly.

Sensex, Nifty hit two-week closing high

Trading for the week closed on a buoyant note as key benchmark indices surged today, 25 November 2016, led by gains in IT and pharma stocks. The barometer index, the S&P BSE Sensex, jumped 456.17 points or 1.76% to settle at 26,316.34. The Nifty surged 148.80 points or 1.87% to settle at 8,114.30. The Sensex and the Nifty, both, hit their highest closing level in two-weeks.

The Sensex closed above the psychological 26,000 mark after regaining that mark in early trade. The Nifty settled above the psychological 8,000 level after reclaiming that mark in early trade. Bargain hunting emerged after the recent heavy selling on the bourses triggered by worries that US president elect Donald Trumps likely fiscal expansionary policies could result in hike in interest rates there which could spark capital outflows from the emerging equity markets.

Wipro gained 2.96% after the company announced that it completed the acquisition of Appirio on 23 November 2016. As mentioned in the media presentation submitted as part of results for Q2 September 2016, impact of the Appirio acquisition is expected to reflect in the financials of Wipro for Q3 December 2016, the company said. The announcement was made after market hours yesterday, 24 November 2016.

Elsewhere in the Asia Pacific region: New Zealands NZX50 rose 0.2% to 6899.62. Indonesias Jakarta Composite index added 0.3% to 5122.10. Taiwans Taiex rose 0.1% to 9159.07. South Koreas KOSPI index jumped 0.2% to 1974.46. Malaysias KLCI was up 0.2% to 1627.26. Singapores Straits Times index rose 0.6% to 2859.33.

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Board of Shristi Infrastructure Development Corporation to consider private placement of NCDs
Nov 25,2016

Shristi Infrastructure Development Corporation announced that a meeting of the Committee of Directors of the Company is scheduled to be held on 30 November 2016, to consider and approve allotment of Non-Convertible Debentures on private placement basis.

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Prabhat Dairy gets credit ratings assgined
Nov 25,2016

Prabhat Dairy announced that ICRA has assigned a long term rating of ICRA A+ with Stable Outlook to Rs 147.50 crore of fund based credit facilities and a short term rating of ICRA A1 to Rs 20 crore of non fund based credit facilities of the Company.

The aforesaid ratings are valid up to 17 November 2017.

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Mercantile Ventures intimates of acquisition of shares by AMI Holdings
Nov 25,2016

Mercantile Ventures announced that AMI Holdings, one of the Companys promoters has acquired 9,777 shares of Mercantile Ventures on 25 November 2016.

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Board of GE Power India to consider September quarter and half year results
Nov 25,2016

GE Power India announced that a meeting of the Board of Directors of the Company will be held on 02 December 2016, inter alia, to consider and approve the Unaudited Financial Results of the Company for the quarter / half year ended 30 September 2016.

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Aurobindo Pharma provides update on its French subsidairy
Nov 25,2016

Arrow Generiques SAS, the French subsidiary of Aurobindo Pharma, announced the signing of an agreement to acquire select commercial products in France from Teva. Arrow Generiques will acquire theright, title and interest in products Calcium and Calcium Vitamin D3, including the use of the OROCAL trademark.

The transaction is subject to the approval of the European Commission. Following receipt of clearances from European authorities, Arrow Generiques will integrate these products with its existing commercial operations in France, and focus on maximizing their potential. Arrow Generiques and Teva intend to ensure continuity of the supply of the products to the market.

This acquisition will enable Arrow Generiques to continue to increase its branded products portfolio and leverage its position as a key player in the drug market. Arrow Generiques is a pharmaceutical company withfocus on selling generics on the retail and hospital markets in France since 2002. Arrow Generiques entered a strategy of diversification with the acquisition of the first branded products a few years ago to become acompany balanced between generics / branded products / biosimilars on retail and hospital market. A dedicated Business Unit with sales and marketing team had been set up to specifically enhance this business.

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Australia Market hits 3-month high
Nov 25,2016

Australian share market closed at highest level in three months on Friday, 25 November 2016, due to continued demand for mining and energy stocks, thanks to gains in commodity prices, including copper and iron ore. At the closing bell, the benchmark S&P/ASX 200 index rose 22.70 points, or 0.41%, to 5507.80, its highest level since August 26, while the broader All Ordinaries index was up 21.50 points, or 0.39%, to close at 5570.50.

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Board of Yash Management & Satellite to consider resignation of company secretary
Nov 25,2016

Yash Management & Satellite announced that the Board of Directors Meeting of the Company is to be held on 05 December 2016, inter alia, to consider the following:

- To consider the resignation of Chaitali Salgaonkar, Company Secretary & Compliance Officer.

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Nikkei hits 11-months high
Nov 25,2016

The Japan share market finished at an 11-month high on Friday, 25 November 2016, as risk sentiments underpinned by yen depreciation against greenback. Total 22 out of 33 TSE industry category on the main section inclined, led by Transportation Equipment, Precision Instruments, Electric Power & Gas, Nonferrous Metals, and Warehousing & Harbor Transportation Services issues, while Banks, Real Estate, Marine Transportation, and Fishery, Agriculture & Forestry issues being major decliners. The benchmark Nikkei 225 index added 0.26%, or 47.81 points, to close at 18,381.22, while the broader Topix index of all first-section issues gained 0.31%, or 4.57 points, to 1,464.53.

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China Stocks end stronger
Nov 25,2016

Mainland China stock market closed stronger on Friday, 25 November 2016, due to gains in real estate and banking shares on signs that the economy is on steadier footing were more than offset by losses in resources shares on profit booking. The blue-chip CSI300 index rose 0.93%, to 3,521.30, while the Shanghai Composite Index gained 0.62% to 3,261.94 points. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.4% to 2,129.84. For the week, the CSI300 rose 3%, while the SSEC gained 2.2%, its best week since mid-November.

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Board of Puravankara Projects to consider September quarter results
Nov 25,2016

Puravankara Projects announced that a Meeting of the Board of Directors of the Company will be held on 09 December 2016, inter alia:

- To consider and approve the Consolidated & Standalone Unaudited Financial Statements of the Company & its Subsidiaries for the quarter ended 30 September 2016.

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Hong Kong Stocks closed higher
Nov 25,2016

The Hong Kong stock market advanced on Friday, 25 November 2016, partly aided by steady money inflows from China as a cross-border link will be launched soon. The Thanksgiving break in the United States also helped slow a relentless surge in the U.S. dollar that has sucked capital out of most emerging markets. The market has witnessed relatively strong inflows from Chinese investors via the Shanghai-Hong Kong Stock Connect, as a sister investment link connecting Hong Kong and Shenzhen will be launched soon. Most sectors rose, with financial and consumer related stocks leading the gains. The Hang Seng Index ended up 0.51%, or 114.96 points, to 22,723.45 and the Hang Seng China Enterprises index added 1.15%, or 111.46 points, to 9,9790.23. Turnover increased to HK$56.2 billion from HK$55.8 billion on Thursday.

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