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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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Padmanabh Alloys & Polymers to announce Quarterly Result
Aug 11,2017

Padmanabh Alloys & Polymers will hold a meeting of the Board of Directors of the Company on 12 August 2017.

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Usha Martin Education & Solutions to announce Quarterly Result
Aug 11,2017

Usha Martin Education & Solutions will hold a meeting of the Board of Directors of the Company on 17 August 2017.

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Trijal Industries to announce Quarterly Result
Aug 11,2017

Trijal Industries will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Mahavir Industries schedules board meeting
Aug 11,2017

Mahavir Industries will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Jaidka Industries declares Quarterly Result
Aug 11,2017

Jaidka Industries will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Phoenix International to table results
Aug 11,2017

Phoenix International will hold a meeting of the Board of Directors of the Company on 26 August 2017.

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Rathi Steel & Power to table results
Aug 11,2017

Rathi Steel & Power will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Manappuram Finance tumbles after weak Q1 results
Aug 11,2017

The result was announced after market hours yesterday, 10 August 2017.

Meanwhile, the S&P BSE Sensex was down 199.63 points, or 0.63% to 31,331.70.

On the BSE, 15.16 lakh shares were traded in the counter so far, compared with average daily volumes of 5.36 lakh shares in the past one quarter. The stock had hit a high of Rs 88 and a low of Rs 81.50 so far during the day. The stock hit a record high of Rs 110.40 on 25 July 2017. The stock hit a 52-week low of Rs 57.80 on 26 December 2016.

The stock had underperformed the market over the past one month till 10 August 2017, falling 6.70% compared with 0.86% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 0.59% as against Sensexs 4.45% rise. The scrip had also underperformed the market in past one year, rising 10.02% as against Sensexs 13.18% rise.

The mid-cap company has equity capital of Rs 168.39 crore. Face value per share is Rs 2.

Manappuram Finance is one of Indias leading gold loan non-banking financial companies (NBFCs). It has 3,747 branches across 28 states/Union Territories with assets under management (AUM) of nearly Rs 13014 crore and a workforce of 19,372.

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Outcome of board meeting of United Breweries
Aug 11,2017

The Board of United Breweries at its meeting held on 10 August 2017 has authorised filing of requisite forms/ intimations with the Registrar of Companies and other authorities notifying Dr. Vijay Mallyas cessation from holding the position of Director in the Company pursuant to the SEBI Order dated 25 January 2017 interalia restraining Dr Vijay Mallya from holding position as Director or KMP of any listed company.

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Bodhtree Consulting receives contract from Indian Coast Guard
Aug 11,2017

Bodhtree Consulting has received supply order for procurement of oracle database enterprise software along with Annual Technical Support from the Indian Coast Guard, Tatraskshak Mukhyalaya dated 04 August 2017.

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Bodhtree receives contract for implementation of GST
Aug 11,2017

Bodhtree has received a contract from Madhya Pradesh Power Generating Co., Jabalpur for implementation of GST as a GST Suvidha Provider in MPPGCL dated 09 August 2017.

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Rupa & Company tumbles after weak Q1 numbers
Aug 11,2017

The result was announced after market hours yesterday, 10 August 2017.

Meanwhile, the S&P BSE Sensex was down 219.40 points, or 0.7% at 31,311.93. The S&P BSE Mid-Cap index was down 11.95 points, or 0.08% at 14,743.90.

On the BSE, 9,431 shares were traded on the counter so far as against the average daily volumes of 62,892 shares in the past one quarter. The stock had hit a high of Rs 415.55 and a low of Rs 389.90 so far during the day. The stock had hit a record high of Rs 590 on 15 June 2017 and a 52-week low of Rs 244 on 10 January 2017.

The stock had underperformed the market over the past one month till 10 Aug 2017, declining 14.34% compared with the Sensexs 0.58% fall. The scrip had, however, outperformed the market over the past one quarter advancing 13.25% as against the Sensexs 4.24% rise. The scrip had also outperformed the market over the past one year advancing 50.57% as against the Sensexs 13.52% rise.

The mid-cap company has equity capital of Rs 7.95 crore. Face value per share is Rs 1.

Rupa & Company is a leading undergarments manufacturer and a leading hosiery and knitwear company in India.

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Tata Motors hits 52-week low
Aug 11,2017

The announcement was made after market hours yesterday, 10 August 2017.

Meanwhile, the S&P BSE Sensex was down 213.98 points or 0.68% at 31,317.35.

On the BSE, 6.57 lakh shares were traded on the counter so far as against the average daily volumes of 18.83 lakh shares in the past one quarter. The stock had hit a high of Rs 379.95 so far during the day. The stock hit a low of Rs 357.95 so far during the day, which is a 52-week low. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016.

The stock had underperformed the market over the past one month till 10 August 2017, sliding 14.74% compared with the Sensexs 0.58% fall. The stock had also underperformed the market over the past one quarter, declining 11.84% as against the Sensexs 4.24% rise. The scrip had also underperformed the market over the past one year, sliding 24.32% as against the Sensexs 13.52% rise.

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

Tata Motors said that the company and Skoda ceased discussions around potential partnership. Tata Motors and Skoda Auto have performed a joint technical feasibility and commercial evaluation of a potential collaboration. Based on intense and constructive discussions, both the companies have jointly concluded that the envisioned areas of partnership may not yield the desired synergies as originally assessed. Nevertheless, the two companies have decided to keep in touch for future areas of collaborations.

Tata Motors will continue to pursue its standalone product strategy to bring exciting and world-class products to its customers.

Tata Motors consolidated net profit rose 41.6% to Rs 3199.93 crore on 10% decline in net sales to Rs 58493.37 crore in Q1 June 2017 over Q1 June 2016.

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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Board of Kwality Pharmaceuticals approves change in company secretary
Aug 11,2017

The Board of Kwality Pharmaceuticals at its meeting held on 10 August 2017 has appointed Gaurav Bajaj as Company Secretary and Compliance Officer with effect from 10 August 2017. The Board accepted the resignation of Pallavi Agarwal as Company Secretary and Compliance Officer with effect from 31 July 2017.

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360,000 BTS expected to be added by 2019: study
Aug 11,2017

Around 360,000 Base Transceiver Station (BTS) are expected to be added by 2019 resulting in an increase in tenancy ratio from the current level of 2.6 to approximately 3.5 in 2021, according to an ASSOCHAM-KPMG joint study.

India is home to an infrastructure network comprising of over 450,000 towers and over 1.25 million kilometers of fibre, noted the ASSOCHAM-KPMG study.

The telecom tower industry in India is growing at a steady pace of approximately 6.8 per cent CAGR over the last four years and has reached INR 254 billion in March 2016. Around 66 per cent of Indias 454,521 towers are owned and operated by tower companies, a figure which will rise to 82 per cent when the BSNL tower company is inaugurated. Around 150,000 tenancies and approximately 6,700 new towers were added during 2016-17.

Telecom Service Providers (TSPs)/ Infrastructure Providers (IPs) in India spend significant capex on receiving Right of Way (RoW) permissions from local governments and municipal bodies. RoW permissions are a prerequisite for TSPs to be able to deploy optical fibre, highlighted the study.

Currently, IP-1s have not been included in the purview of the notification and are therefore not permitted to provision duct and OFC. The IP-1 companies are of the view that their inclusion in the RoW rules can streamline tower installations and significantly improve the QoS provided to the customers and are thus seeking support from the government with regard to their inclusion in RoW rules. As per the industry, this can also help in providing necessary infrastructure and services to TSPs and assist in the smooth implementation of various government initiatives under the Digital India program.

Site acquisition is one of the major operational challenges with respect to tower installations. To ease the site acquisition process, the government has rolled out an initiative whereby tower providers will be allowed to install telecom towers on government sites.

Some of the states like Kerala, Andhra Pradesh and Assam have already initiated the process of allotment of government premises for tower installation. The industry is also working with the respective state governments to help with the implementation of these guidelines. While progress has been made in a few states, certain departments have extended and applied the guidelines only to TSPs resulting in IP-1s being overlooked from attaining the benefits of the government initiatives.

Erratic power supplies/ non-availability of power hinders the smooth operations of telecom tower infrastructure. Around 40 per cent of the telecom towers face load shedding for more than 12 hours per day. To ensure a high degree of reliability and availability of telecom services, the tower companies have invested and deployed solution like DG sets, batteries, etc. thereby increasing the cost of services. It is critical to ensure that grid connectivity and availability to telecom towers is increased. The government may consider improving the grid electricity provided to telecom towers by prioritising new electric connections, continuous supply at par with emergency services and clarity on tariff structure.

The tower companies are looking at alternative solutions to power telecom towers such as DG sets, batteries, etc. in order to ensure continuous availability of telecom services. Further, operators can bring about annual savings of 20-25 per cent on fuel cost by using efficient energy storage applications.

Lithium-ion batteries are a preferred source for power back-up due to fast charging capacities, longer life cycle, enhanced safety, low maintenance costs and the ability to operate in a wide range of environmental conditions for long periods as compared to traditional batteries. However, the import duty on Lithium-ion batteries when used for telecom operations is significantly higher than when it is used to power electric vehicles.

The landed cost for Li-ion module (assuming CIF of INR 100) is INR 106.2 when used in electric vehicles and is INR 129.7 when used in telecom applications. A uniform import duty for Li-ion batteries across applications and industries will help increase use of these batteries in telecom towers. Use of Li-ion batteries will also help in reducing carbon footprints from telecom towers. The government may also look at incentivising production of Li-ion batteries in India thus reducing the reliance on imports from other countries.

Based on the clarification issued by DoT in November 2016, all IP-1s are mandated to seek Unified License or UL-VNO license for provisioning of network elements thereby negating the policy issued earlier which allowed sharing of passive and active infrastructure elements to the licensed Service Providers under Section 4 of Indian Telegraph Act 1885.

This license requirement adds an additional cost burden for the infrastructure providers. Infrastructure sharing elements is critical for implementation of new technologies like In Buildings Solutions (IBS), Distributed Antenna System (DAS), etc. and hence the additional cost burden could potentially bring in cost inefficiencies for infrastructure providers. This cost burden will eventually be passed to the end consumers.

There is a need for defining the security framework for telecom infrastructure assets such as fibre and telecom towers deployed across the country. This framework should allow the assets to be treated as essential infrastructure and stringent penal provisions should be in place to mitigate risk of damage to these assets.

The Indian telecom tower industry has been accorded with Infrastructure Status considering its significance in the development of telecom sector and overall economy of the country. However, the benefits derived by infrastructure grantees have not been extended to this sector. The government may consider extend benefits to tower industry which are already provided to other infrastructure players such as roads, ports, airports etc.

The Central government should come up with guidelines to ensure property tax is levied at uniform rates and is consistent across various state and regional authorities.

The current structure of GST tabled on 28 March 2017 has excluded IP-1s from getting benefit on procurement of telecom towers and hence may result in an increase in cost for tower operators. Further, currently, no subsidy is provided by the government on diesel even though it is an operational cost for infrastructure providers. Further, no CENVAT credit is given to the sector for the commercial use of diesel as a power backup.

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