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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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Board of Reliance Capital decides to raise limit for NCD issue by Rs 3000 cr
Apr 07,2017

Reliance Capital announced that the Board of Directors of the Company at its meeting held on 07 April 2017 has decided to raise the limits for issue of Non-Convertible Debentures on private placement basis by an amount of Rs. 3000 crore.

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Phoenix Mills ascends after foreign brokerage upgrade
Apr 07,2017

Meanwhile, the S&P BSE Sensex was down 94.62 points, or 0.32%, to 29,834.43. The S&P BSE Mid-Cap index was up 32.30 points, or 0.23%, to 14,308.84

On the BSE, so far 28,000 shares were traded in the counter, compared with average daily volumes of 29,683 shares in the past one quarter. The stock had hit a high of Rs 428.65 and a low of Rs 410.15 so far during the day.

The stock hit a 52-week high of Rs 445 on 8 September 2016. The stock hit a 52-week low of Rs 285.05 on 15 November 2016. The stock had outperformed the market over the past one month till 6 April 2017, advancing 7.64% compared with the Sensexs 3.55% rise. The scrip, however, underperformed the market over the past one quarter, rising 10.74% as against the Sensexs 11.84% advance.

The mid-cap company has equity capital of Rs 30.61 crore. Face value per share is Rs 2.

The foreign brokerage reportedly said that co-investment platform with CPPIB will boost long-term growth outlook. The platform expects to substantially deploy money within three years. The deal with CPPIB would reset benchmark cap rate valuations for the company, the foreign brokerage reportedly said.

Phoenix Mills and Canada Pension Plan Investment Board (CPPIB) announced participation in a strategic investment platform Island Star Mall Developers (ISMDPL) to develop, own and operate retail-led mixed-use developments across the country. CPPIB will initially own 30% in Island Star Mall with an equity commitment of approximately Rs 724 crore. CPPIB plans to invest a total of approximately Rs 1600 crore in multiple tranches, to own up to 49% stake in the platform. Pre-money enterprise value of ISMDPL is pegged at about Rs 2200 crore. The announcement was made after market hours on Wednesday, 5 April 2017. The stock fell 1.88% to settle at Rs 402.75 yesterday, 6 April 2017.

ISMDPL owns Phoenix MarketCity Bangalore, a mall which opened in 2011, with gross leasable area of 1 million sq. ft. The funds will be used for acquiring and developing both greenfield assets on newly purchased land banks, as well as existing operating retail assets. Phoenix Mills will manage all development and operational assets in ISMDPL.

On a consolidated basis, Phoenix Millss net profit fell 6.86% to Rs 44.54 crore on 11.72% decline in net sales to Rs 436.69 crore in Q3 December 2016 over Q3 December 2015.

Phoenix Mills focuses on real estate development and entertainment.

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Board of Faze Three approves allotment of equity shares and warrants on preferential basis
Apr 07,2017

Faze Three announced that the Board of Directors of the Company at its meeting held on 07 April 2017 approved the allotment of 3,19,000 Equity Shares and 8,45,500 Convertible Equity Warrants on Preferential Basis at a price of Rs. 110/- (including Rs. 100/- premium) per Equity Share/ Warrant.

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NHPC completes rectification work for Chamera-III (3x77) 231 MW Power Station
Apr 07,2017

NHPC announced that Chamera-III (3x77) 231 MW Power Station in Himachal Pradesh, which was under complete shutdown for rectification of leakage from water conducting system, has been restored on 06 April 2017.

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Shriram EPC provides update on subsidiary - Shriram EPC (FZE) Sharjah
Apr 07,2017

Shriram EPC announced that its subsidiary - Shriram EPC (FZE) Sharjah, has considered to establish and incorporate a Limited Liability Company (LLC) in Sultanate of Oman with a Capital of OMR 150,000 divided into 150,000 shares of OMR 1 per share with Arken Group LLC. Shriram EPC (FZE) Sharjah will hold 70% in the Capital of the said LLC and the Registration of the LLC - Shriram EPC Muscat LLC, has been done on 07 March 2017.

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Shriram EPC advances after subsidiary forms JV in Oman
Apr 07,2017

The announcement was made during market hours today, 7 April 2017.

Meanwhile, the S&P BSE Sensex was down 71.96 points or 0.24% at 29,855.38. The S&P BSE Small-Cap index was up 68.97 points or 0.47% at 14,819.94.

On the BSE, 45,698 shares were traded on the counter so far as against the average daily volumes of 41,282 shares in the past one quarter. The stock had hit a high of Rs 28.50 and a low of Rs 27.45 so far during the day.

The stock had hit a 52-week high of Rs 40.80 on 7 November 2016 and a record low of Rs 19 on 8 June 2016. The stock had underperformed the market over the past one month till 6 April 2017, gaining 2.38% compared with Sensexs 3.03% gains. The scrip had also underperformed the market in past one quarter, falling 4.6% as against Sensexs 11.84% rise.

The small-cap company has equity capital of Rs 822.99 crore. Face value per share is Rs 10.

Shriram EPC (FZE) Sharjah has considered to establish and incorporate a limited liability company (LLC) in Sultanate of Oman with a capital of Omani Rial (OMR) 150,000 divided into 150,000 shares of OMR 1 per share with Arken Group LLC.

Shriram EPC (FZE) Sharjah will hold 70% in the capital of the LLC and the registration of the LLC - Shriram EPC Muscat LLC, has been done on 7 March 2017.

Shriram EPC (FZE) Sharjah is a wholly owned subsidiary of Shriram EPC.

Shriram EPC reported net loss of Rs 69.37 crore in Q3 December 2016 compared with net loss of Rs 25.52 crore in Q3 December 2015. Net sales fell 12.9% to Rs 133.35 crore in Q3 December 2016 over Q3 December 2015.

Shriram EPC offers design, engineering, procurement, construction and project management services for infrastructure projects.

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Raising Productivity Growth is Critical for Middle-income Asia n++ ADB Study
Apr 07,2017

Reforms to increase productivity on the basis of better innovation, education, and infrastructure can help developing countries in Asia and the Pacific graduate to high-income status, says a new Asian Development Bank (ADB) report.

Transcending developing Asias middle-income challenge is the subject of the special theme chapter in the Asian Development Outlook (ADO) 2017 report. ADO is ADBs flagship economic publication.

n++Past development success in Asia and the Pacific means most citizens in the region now live in a middle-income country,n++ said Yasuyuki Sawada, ADBs Chief Economist, n++Policymakers will need to change their approach to reach high income. It is no longer a question of them using more resources to sustain growth, economies must become more productive to clear the final hurdle.n++

The report notes that in 1991 only 10% of the population in Asia and the Pacific lived in middle-income economies. By 2015, this had increased to over 95% of the regions population, fueled by growth in the regions most populous countries: the Peoples Republic of China (PRC), India, and Indonesia.

To raise productivity, countries in developing Asia will need to focus on innovation. Middle-income countries that successfully moved up to high income have more than two and half times as much stock of accumulated research and development as other middle-income countries.

Innovation requires a skilled workforce, and hence an emphasis on improving education quality. The report estimates that a 20% increase in human capital spending per capita can increase labor productivity by up to 3.1%. Sound educational policies can also promote equity and close the wide education gaps between developing Asia and high-income economies, while encouraging innovation and entrepreneurship.

Infrastructure investment, particularly in energy and information and communications technology, can contribute to innovation and human capital, and thus sustaining growth in middle-income countries. A one-time public investment in infrastructure equal to 1% of gross domestic product can lift a countrys output by as much as 1.2% in 7 years.

Asias dynamic track record suggests that the journey to high income, while challenging, can be completed. Supportive institutions and policies, underpinned by macroeconomic stability, can strengthen the pillars of productivity growth n++ innovation, human capital, and infrastructure.

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KDDL in demand after announcing strategic partnerships
Apr 07,2017

The announcement was made after market hours yesterday, 6 April 2017.

Meanwhile, the S&P BSE Sensex was down 68.03 points or 0.23% at 29,860.12. Meanwhile, the S&P BSE Small-Cap index was up 71.95 points or 0.49% at 14,822.92.

On the BSE, 5,008 shares were traded on the counter so far as against the average daily volumes of 4,493 shares in the past one quarter. The stock had hit a high of Rs 218.85 and a low of Rs 211.10 so far during the day. The stock had 52-week high of Rs 294.50 on 10 August 2016 and a 52-week low of Rs 162 on 20 May 2016.

The stock had outperformed the market over the past one month till 6 April 2017, advancing 9.5% compared with the Sensexs 3.55% rise. The scrip had, however, underperformed the market over the past one quarter, rising 3.64% as against the Sensexs 11.84% advance.

The small-cap company has equity capital of Rs 10.84 crore. Face value per share is Rs 10.

KDDL said that the companys subsidiary Ethos has entered into a strategic partnership with Nomos Glashutte SA for exclusively retailing Nomos Glashutte watches in India. In addition to this, Ethos has also entered into a strategic partnership with Oris SA for exclusively retailing Oris watches in India. Oris SA will end its association with existing retailers and will be exclusively available only at Ethos stores.

On a consolidated basis, KDDLs net profit rose 47.16% to Rs 2.59 crore on 3.62% fall in total income to Rs 126.74 crore in Q3 December 2016 over Q3 December 2015.

KDDL is a diverse company focusing on luxury retail watches and precision engineering. It has established Indias largest retail chain for premium and luxury watches- Ethos and SUMMIT. It is a global supplier of high quality watch components. Its precision stamping division offers high precision pressed components and tooling solution for a wide range of engineering applications.

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Ashoka Buildcon receives contract from Mumbai International Airport
Apr 07,2017

Ashoka Buildcon announced that the Company has received Letter of Award (LoA) from Mumbai International Airport (MIAL) and the LoA has been accepted by the Company.

The Company will be developing the Land Parcels located at NS-C02 and NS-C03 in CTS No. 145-A (Part) of Village Sahar (GVK SKY City Project) located near existing Chhatrapati Shivaji International Airport, Mumbai for development of commercial / office space of Potential Built up area of 108,494 sq. Mtrs. (1.17 mn Sq. Ft.) for an aggregate lease period of 49 years.

The Company will make payment of Refundable Security Deposit amounting to Rs. 329.35 crore and Annual Lease Rental of Rs. 15.24 crore to MIAL with an escalation of 15% every 3 years.

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Ashoka Buildcon hits record high
Apr 07,2017

The announcement was made during market hours today, 7 April 2017.

Meanwhile, the S&P Sensex was down 71.37 points, or 0.24% at 29,855.97. The S&P BSE Mid-cap index was up 40.98 points, or 0.29% at 14,317.52.

On the BSE, 1.25 lakh shares were traded on the counter so far as against the average the daily volumes of 6.09 lakh shares in the past one quarter. The stock had hit a high of Rs 231.55 so far during the day, which is also its record high. The stock hit a low of Rs 209 so far during the day.

The stock had hit a 52-week low of Rs 111 on 7 April 2016. The stock had outperformed the market over the past one month till 6 April 2017, advancing 17.55% compared with the Sensexs 3.03% rise. The scrip had also outperformed the market over the past one quarter advancing 36.22% as against the Sensexs 11.84% rise.

The mid-cap company has equity capital of Rs 93.57 crore. Face Value per share is Rs 5.

Ashoka Buildcon said that it has received letter of award (LoA) from Mumbai International Airport (MIAL) and the LoA has been accepted by the company. It will be developing the land parcels located at Sahar (GVK SKY City Project) located near existing Chhatrapati Shivaji International Airport, Mumbai for development of commercial / office space of potential built up area of 1.08 lakh square meters for an aggregate lease period of 49 years.

The company will make payment of refundable security deposit amounting to Rs 329.35 crore and annual lease rental of Rs 15.24 crore to MIAL with an escalation of 15% every 3 years.

Ashoka Buildcons net profit rose 114.7% to Rs 42.70 crore on 17.2% increase in net sales to Rs 517.74 crore in Q3 December 2016 over Q3 December 2015.

Ashoka Buildcon is a leading highway concessionaire and engineering, procurement and construction (EPC) company.

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Tata Motors nudges higher after JLR posts record retail sales in FY 2017
Apr 07,2017

The announcement was made during market hours today, 7 April 2017.

Meanwhile, the BSE Sensex was down 54.66 points, or 0.17%, to 29,875.21.

On the BSE, 1.36 lakh shares were traded in the counter so far, compared with average daily volumes of 5.66 lakh shares in the past one quarter. The stock had hit a high of Rs 474.50 and a low of Rs 466.55 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016. The stock had hit a 52-week low of Rs 370.75 on 7 April 2016.

The stock had underperformed the market over the past one month till 6 April 2017, gaining 0.5% compared with Sensexs 3.03% gains. The scrip had also underperformed the market in past one quarter, falling 4.97% as against Sensexs 11.84% rise.

The large-cap company has equity capital of Rs 577.47 crore. Face value per share is Rs 2.

Jaguar Land Rover, the UKs largest manufacturer of premium luxury vehicles and Tata Motors wholly owned subsidiary reported record retail sales of 6.04 lakh vehicles (including sales from its China joint venture), with sales rising 16% in the financial year ended 31 March 2017 (FY 2017) over FY 2016.

The sales exceeded 6 lakh units for the first time in the companys history. Retail sales of Jaguar Land Rover rose 13% to 1.79 lakh vehicles in Q4 March 2017 over Q4 March 2016. Sales rose 21% to 90,838 units in March 2017 over March 2016.

Retail sales for the financial year were up year-on-year in China (32%), North America (24%), the UK (16%) and Europe (13%), whilst sales in overseas markets were down 6%.

Retail sales for Jaguar were a record 1.72 lakh vehicles in the FY 2017, up 83% compared to FY 2016, primarily driven by the successful introduction of the F-PACE and solid sales of the XE and XF (including the long wheel base XFL from the China joint venture). Jaguar retail sales rose 81% to 53,972 vehicles in Q4 March 2017 over Q4 March 2016. Sales rose 83% to 27,820 units in March 2017 over March 2016.

Land Rover retailed 4.31 lakh vehicles in FY 2017, up 1% compared to last year, as continuing strong sales of the Discovery Sport, Evoque and Range Rover Sport were offset by the run-out of Defender and Discovery. Sales of the all-new Discovery began in February with 4,862 units retailed since its launch.

Retail sales for Land Rover fell 2.7% to 1.25 lakh units in Q4 March 2017 over Q4 March 2016. Retail sales rose 4.8% to 63,018 vehicles in March 2017 over March 2016. Last month Land Rover launched the Velar, a new addition to the Range Rover family, positioned between Evoque and Range Rover Sport, which will go on sale later this year, Tata Motors added.

Tata Motors consolidated net profit fell 96.2% to Rs 111.57 crore on 2.2% decline in net sales to Rs 66855.18 crore in Q3 December 2016 over Q3 December 2015.

Tata Motors is a market leader in commercial vehicles in India. The companys British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.

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Tata Motors announced Jaguar Land Rover sales
Apr 07,2017

Jaguar Land Rover reported record retail sales of 604,009 vehicles (including sales from our China joint venture) in the financial year ended31 March 2017, up 16% compared to a year ago, exceeding 600,000 for the first time in the companys history. Retail sales for the Fourth Quarter (ended 31 March 2017) were 179,509 vehicles, up 13% on the same quarter a year ago, and March sales reached 90,838 units, up 21% on March 2016.

Retail sales for the financial year were up year-on-year in China (32%), North America (24%), the UK (16%) and Europe (13%), whilst sales in Overseas markets were down 6%.

Retail sales for Jaguar were a record 172,848 vehicles in the financial year, up 83% compared to the prior year, primarily driven by the successful introduction of the F-PACE and solid sales of the XE andXF (including the long wheel base XFL from the China joint venture). Jaguar retails in the Fourth Quarter were 53,972 vehicles, up 81% on the same quarter last year, and were 27,820 units in the month ofMarch, up 83% compared to March 2016.

Land Rover retailed 431,161 vehicles this financial year, up 1% compared to last year, as continuing strong sales of the Discovery Sport, Evoque and Range Rover Sport were offset by the run-out of Defender and Discovery. Sales of the all-new Discovery began in February with 4,862 units retailed since its launch. Retail sales for Land Rover for the Fourth Quarter were 125,537 units, down 2.7% from a year ago, and retails in March were 63,018 vehicles, up 4.8% compared to March 2016.

Last month Land Rover launched the Velar, a new addition to the Range Rover family, positioned between Evoque and Range Rover Sport, which will go on sale later this year.

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Stylam Industries to hold EGM
Apr 07,2017

Stylam Industries announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 3 May 2017 .

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Gammon Infrastructure jumps after acquiring 24% stake in ICTPL
Apr 07,2017

The announcement was made after market hours yesterday, 6 April 2017.

Meanwhile, the S&P BSE Sensex was down 86.95 points or 0.29% at 29,840.39. The S&P BSE Small-Cap index was up 33.40 points or 0.2% at 14,784.37.

On the BSE, 3.35 lakh shares were traded in the counter so far as against average daily volume of 4.99 lakh shares in the past one quarter. The stock had hit a high of Rs 4.70 and a low of Rs 4.35 so far during the day. The stock had hit a 52-week high of Rs 6.39 on 7 July 2015. The stock had hit a record low of Rs 3.41 on 1 February 2017.

The stock had outperformed the market over the past one month till 6 April 2017, gaining 5.39% compared with Sensexs 3.03% gains. The scrip had also outperformed the market in past one quarter, advancing 15.28% as against Sensexs 11.84% rise.

The small-cap company has equity capital of Rs 188.37 crore. Face value per share is Rs 2.

Gammon Infrastructure Projects said that the company through amendment agreement, acquired from Noatum Ports, S. L., Spain, 24.37 lakh equity shares of Rs 10 each of Indira Container Terminal (ICTPL), being 24% of total paid up capital of ICTPL for an aggregate consideration of Rs 15 crore.

Upon acquisition, ICTPL has become subsidiary of the company with increased shareholding from 50% to 74% in the paid up equity share capital of ICTPL. Turnover of ICTPL was Rs 18.37 crore for the financial year ended 31 March 2017.

ICTPL was incorporated on 13 September 2007 for the construction of offshore berths and development of offshore container terminal (OCT) on build, operate & transfer basis in Mumbai Harbour and the operation of Ballard Pier Station Container Terminal.

Gammon Infrastructure Projects net profit fell 86.6% to Rs 1.74 crore on 66% decline in net sales to Rs 37.56 crore in Q3 December 2016 over Q3 December 2015.

Gammon Infrastructure Projects undertakes development of infrastructure projects on public private partnership (PPP) basis.

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Reliance Jio Infocomm to withdraw Jio Summer Surprise
Apr 07,2017

Reliance Jio Infocomm, subsidiary of Reliance Industries announced that the Telecom Regulatory Authority of India on 06 April 2017 had advised Jio to withdraw the 3 months complimentary benefits of Jio Summer Surprise.

Jio accepts this decision. Jio is in process of fully complying with the regulators advice, and will be withdrawing the 3 months complimentary benefits of Jio Summer Surprise as soon as operationally feasible, over the next few days.

However, all customers who have subscribed to Jio Summer Surprise offer prior to its discontinuation will remain eligible for the offer.

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