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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 White Organic Agro approves incorporation of subsidiary in UAE
Jun 13,2017

White Organic Agro announced that the Board of Directors the Company at its meeting held on 13 June 2017 have approved to form wholly owned subsidiary company under the name and style White Organic Agro F.Z.E or any other name approved by the authorities in Ajman Free Zone or any other Free Zone/s operating in the United Arab Emirates. The Board of Directors has approved the investment in the said subsidiary upto AED 15 Million and the same may be spread in different tranches as and when required. The Board of Directors have further authorised Darshak M Rupani, Managing Director of the Company to take all the necessary steps to complete the acquisition.

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51 EMR Schools made Functional during The Last three years
Jun 13,2017

Ministry of Tribal Affairs has actively initiated various efforts during the last three years to make more Eklavya Model Residential Schools (EMRS) functional. As a result, 51 new EMRS were made functional during the last three years. 161 EMR Schools are functional right now, while this figure was at 110 in the year 2013-14. More than 52 thousand tribal students are taking education in 161 EMR Schools of 26 States.

Eklavya Model Residential School Scheme was started in 1998 and first school was started in the year 2000 in Maharashtra. A total of 259 schools have been sanctioned during the last 17 years, out of which, 72 EMRS were sanctioned during last three years. EMRSs have been functioning as institutions of excellence for tribal students. Results of these schools have been generally better than other Government schools in the tribal areas. Average pass percentage of students in Class Xth and XIIth in these EMRS is above 90%. Many EMRS students have been reported to be faring well in higher studies and competitive examinations.

In order to further educational opportunities for more ST children, Government seeks to extend the facility of EMRSs in all the 672 Blocks where ST population is more than 50% of the total population in a span of next five years.

As per existing EMRS Guidelines of 2010, at least one EMRS is to be set up in each Integrated Tribal Development Agency (ITDA) / Integrated Tribal Development Project (ITDP) having 50% ST population in the area. The capital cost for setting up the school complex, including hostels and staff quarters etc. has been earmarked at Rs. 12 crore with a provision to go up to Rs.16 crore in hill areas, deserts and islands. Recurring cost during the first year for these schools would be Rs. 42000/-per child, with a provision of raising it by 10% every second year to compensate for inflation etc.

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Sportking India gets revision in credit ratings for bank loan ratings
Jun 13,2017

Sportking India announced that ICRA has upgraded the bank loan rating of the company for the long term debts from ICRA BBB to ICRA BBB+. Further, bank loan rating of the Company for the short term debts has been reaffirmed at ICRA A3+.

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Ramco Systems partners with Dentsu Aegis Network Middle East and North Africa
Jun 13,2017

Dentsu Aegis Network Middle East and North Africa, a global communications network offering best-in-class expertise and capabilities in Media, Digital and Creative, announced the successful implementation of Ramco Systems HCM suite integrated with Payroll, for its operations across the region. The deployment of Ramco HCM will digitize and automate all HR processes at Dentsu Aegis, offering improved visibility across the organization and simplifying day to day HR needs.

The integrated online platform enables staff members to effortlessly manage their personal profiles, leave requests, expenses, business travel and payroll, as well as providing an overview of team schedules for linemanagers. Ramco HCM has automated the entire HR & Payroll operations which had previously been managed manually. The initial results have been encouraging with Dentsu Aegis reporting an 80% reductionin payroll processing time.

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Muthoot Finance hits record high
Jun 13,2017

Meanwhile, the S&P BSE Sensex was up 82.88 points or 0.27% at 31,178.58.

On the BSE, 2.17 lakh shares were traded on the counter so far as against the average daily volumes of 82,000 shares in the past two weeks. The stock had hit a high of Rs 459.30 so far during the day, which is a record high. The stock hit a low of Rs 449.40 so far during the day. The stock had hit a 52-week low of Rs 250 on 24 June 2016.

The stock had outperformed the market over the past one month till 12 June 2017, advancing 14.98% compared with the Sensexs 3.01% rise. The stock had also outperformed the market over the past one quarter, gaining 32.64% as against the Sensexs 7.43% rise. The scrip had also outperformed the market over the past one year, surging 75.44% as against the Sensexs 16.74% rise.

The large-cap company has equity capital of Rs 399.54 crore. Face value per share is Rs 10.

The domestic brokerage reportedly said that gold loan companies even after the recent run up quote at a discount in terms of price to average book value compared to other categories of non-banking finance companies (NBFCs) like housing finance, personal/durable finance, micro finance.

Expectation of good monsoon this year could trigger larger demand for gold loans across the country especially in the south, the brokerage said.

Muthoot Finances net profit rose 21.3% to Rs 321.78 crore on 18% growth in total income to Rs 1713.22 crore in Q4 March 2017 over Q4 March 2016.

Muthoot Finance is the largest gold financing company in India in terms of loan portfolio.

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Suven Life Sciences firms up after bagging product patents
Jun 13,2017

The announcement was made during trading hours today, 13 June 2017.

Meanwhile, the S&P BSE Sensex was up 77.59 points, or 0.25% to 31,173.29.

On the BSE, 28,000 shares were traded in the counter so far, compared with average daily volumes of 74,483 shares in the past one quarter. The stock had hit a high of Rs 192.40 and a low of Rs 185.40 so far during the day. The stock hit a 52-week high of Rs 221 on 21 July 2016. The stock hit a 52-week low of Rs 151.10 on 9 November 2016.

The stock had underperformed the market over the past one month till 12 June 2017, falling 5.24% compared with 3.01% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 9.50% as against Sensexs 5.61% rise. The scrip had underperformed the market in past one year, falling 11.02% as against Sensexs 17.80% rise.

The small-cap company has equity capital of Rs 12.73 crore. Face value per share is Re 1.

Suven Life Sciences (Suven) announced that it was granted one product patent from Australia and one product patent from USA corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases. These patents are valid through 2032 and 2034 respectively.

The granted claims of the patents are from the mechanism of action include the class of selective 5HT6 and 5HT4 compounds and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimers disease, Attention deficient hyperactivity disorder (ADHD), Huntingtons disease, Parkinson and Schizophrenia.

Net profit of Suven Life Sciences rose 7.8% to Rs 40.07 crore on 3.3% rise in net sales to Rs 175 crore in Q4 March 2017 over Q4 March 2016.

Suven Life Science is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products, which are first in class or best in class CNS therapies using GPCR targets.

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Pennar Industries and its subsidiaries secure new orders
Jun 13,2017

Pennar Industries and its subsidiaries have secured orders worth Rs 225 crore.

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Suven Life Sciences secures two product patents for its NCEs
Jun 13,2017

Suven Life Sciences has secured a product patent from Australia (2014358652) and another product patent from USA (9636335) corresponding to the New Chemical Entities (NCEs) for thetreatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2032 and 2034 respectively.

The granted claims of the patents are from the mechanism of action include the class of selective 5HT6 and 5HT4 compounds and are being developed as therapeutic agents and are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimers disease, Attention deficient hyperactivity disorder (ADHD),Huntingtons disease, Parkinson and Schizophrenia.

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Subex and STC wins at Global Telecoms Business Innovation Awards 2017
Jun 13,2017

Subex has announced that it has been awarded the Global Telecoms Business Innovation Awards 2017 along with STC in the Enterprise Service Innovation category for its Managed Services offering.

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Meenakshi Enterprises announces change in email and website
Jun 13,2017

Meenakshi Enterprises has changed its E-Mail ID from meenakshienterpriseslimited@gmail.com to investor@melnbfc@gmail.com with immediate effect.

The Company also changed its website from www.meenakshienterprisesltd.com to www.melnbfc.com with effect from 19 June 2017.

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Pennar Industries gains after winning orders
Jun 13,2017

The announcement was made during trading hours today, 13 June 2017.

Meanwhile, the S&P BSE Sensex was up 91.31 points, or 0.29% to 31,187.01.

On the BSE, 2.17 lakh shares were traded in the counter so far, compared with average daily volumes of 1.29 lakh shares in the past one quarter. The stock had hit a high of Rs 58 and a low of Rs 56.20 so far during the day. The stock hit a 52-week high of Rs 58 on 9 June 2017. The stock hit a 52-week low of Rs 39.50 on 21 November 2016.

The stock had outperformed the market over the past one month till 12 June 2017, rising 15.69% compared with 3.01% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 33.97% as against Sensexs 5.61% rise. The scrip had also outperformed the market in past one year, rising 28.47% as against Sensexs 17.80% rise.

The small-cap company has equity capital of Rs 60.17 crore. Face value per share is Rs 5.

On a consolidated basis, net profit of Pennar Industries rose 10.82% to Rs 18.02 crore on 32.56% rise in net sales to Rs 464.87 crore in Q4 March 2017 over Q4 March 2016.

Pennar Industries offers specialized, engineered steel solutions. The company has a strong presence across growth sectors in India through four business units, steel products, tubes, industrial components and systems & projects, and its subsidiary companies, Pennar Engineered Building Systems, Pennar Renewables and Pennar Enviro.

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NIIT Technologies allots 34,000 equity shares
Jun 13,2017

NIIT Technologies has allotted 34,000 equity shares of Rs 10 each under ESOP on 12 June 2017. Consequent to this allotment, the paid up share capital of the Company has increased to 61,396,174 equity shares of Rs 10 each.

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Mawana Sugars extends post-result gain
Jun 13,2017

Meanwhile, the S&P BSE Sensex was up 91.65 points or 0.29% at 31,187.35. The S&P BSE Small-Cap index rose 116.88 points or 0.76% at 15,570.94.

On the BSE, 26,000 shares were traded on the counter so far as against the average daily volumes of 38,000 shares in the past two weeks. The stock had hit a high of Rs 84.90 and a low of Rs 83 so far during the day. The stock had hit a 52-week high of Rs 99 on 23 May 2017 and hit a 52-week low of Rs 34.65 on 17 November 2016.

The stock had underperformed the market over the past one month till 12 June 2017, sliding 9.2% compared with the Sensexs 3.01% rise. The stock had also underperformed the market over the past one quarter, declining 8.33% as against the Sensexs 7.43% rise. The scrip had, however, outperformed the market over the past one year, gaining 39.97% as against the Sensexs 16.74% rise.

Shares of Mawana Sugars have risen 8.67% in two trading sessions from its closing of Rs 77.20 on 9 June 2017 after the company reported strong quarterly results after market hours on 9 June 2017. The stock had risen 6.15% to settle at Rs 81.95 yesterday, 12 June 2017.

Mawana Sugars net profit rose 42.7% to Rs 92.63 crore on 8.5% decrease in net sales to Rs 422.24 crore in the quarter ended March 2017 over the quarter ended March 2016.

Mawana Sugars in engaged in the manufacturing of some of the finest sugars in the country.

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Board of Ramky Infrastructure approve change in company secretary
Jun 13,2017

The Board of Ramky Infrastructure at its meeting held on 12 June 2017 has transacted the following -

Resignation of Madhusudhana Reddy as Company Secretary.

Appointment of Ashish Kulkarni as Company Secretary and Compliance officer

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US stocks end with moderate losses
Jun 13,2017

U.S. stock-market indices closed lower on Monday, 12 June 2017 weighed by a second straight session of firm losses in technology shares. The stock market opened the week with its second-consecutive decline as the top-weighted technology sector weighed on the broader market.

The Dow Jones Industrial Average snapped three days of gains to close down 36.30 points, or 0.2%, at 21,235.67. The tech-heavy Nasdaq Composite Index remained under pressure. Overcoming a 97-point deficit on the session, the index closed down 32.45 points, or 0.5%, at 6,175.46. The S&P 500 index finished down 2.38 points, or 0.1%, at 2,429.39, overcoming a nearly 12-point deficit earlier.

Six of the benchmarks 10 sectors closed lower led by the technology sector.

Losses in shares of Apple and McDonalds offset gains from shares of General Electric and Chevron Corp.

At the beginning of Mondays session, it appeared that Wall Street may duplicate Fridays sector rotation trade; tech stocks opened sharply lower while financials and energy stocks opened distinctly higher. However, the three sectors quickly retraced a portion of their early moves with the financial sector actually entering negative territory within two hours of the opening bell. The financial space came back a bit in the afternoon, but never returned to its early-morning high.

As the week kicks off, investors are also focused on the Federal Reserve, which on Wednesday is widely anticipated to deliver an interest-rate hike.

The Feds two-day meeting will wrap up on Wednesday, where a dollar-supportive rate increase is widely expected, but not guaranteed. Wall Street is pricing in a 95.8% chance of a lift to U.S. benchmark rates, which would follow the European Central Banks decision last Thursday to keep its rates steady.

The U.K. general election ended Friday in a hung parliament, where no single party holds a majority.

Meanwhile, the dollar, as measured by the ICE U.S. Dollar Index traded nearly flat on Monday after posting a gain for last week. A stronger dollar can provide a headwind for commodities priced in the currency, making it more expensive to buyers using other monetary units.

Shares in Apple finished down 2.5% on Monday. It is the second time in a week that the iPhone maker has been downgraded, with the more bearish view once again stemming from concerns that optimism over the iPhone 8 has been baked into the stock.

On the upside, General Electric finished up 3.6% following news that CEO Jeff Immelt is retiring after nearly 16 years at the helm of the company and will be replaced by John Flannery, currently president and CEO of GE Healthcare.

Bullion prices ended lower on Monday, 12 June 2017 at Comex. Gold prices ended lower Monday, stretching their streak of declines to a fourth session as this weeks focus now turns squarely on the Federal Reserve.

August gold fell $2.50, or 0.2%, at $1,268.90 an ounce. The settlement handed the contract its fourth-straight drop. July silver gave up 27.9 cents, or 1.6%, to $16.944 an ounce.

Oil prices settled higher on Monday, 12 June 2017 following last weeks drop of nearly 4%, as traders look ahead to the weekly update on U.S. petroleum supplies, as well as monthly reports on U.S. shale crude production and global output figures from OPEC and the International Energy Agency due out this week.

July West Texas Intermediate crude tacked on 25 cents, or 0.6%, to settle at $46.08 a barrel on the New York Mercantile Exchange. August Brent crude, the global oil benchmark, rose 14 cents, or 0.3%, to $48.29 a barrel on the ICE Futures Europe exchange.

> Investors did not receive any economic data on Monday. Tomorrows economic calendar will also be light with just one report--May PPI (consensus 0.0%) on the docket. The report will be released at 8:30 ET.

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