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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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Techno Electric & Engineering gains after strong Q2 outcome
Nov 21,2016

The result was announced on Saturday, 19 November 2016.

Meanwhile, the BSE Sensex was down 315.27 points , or 1.21%, to 25,834.97

On BSE, so far 49,000 shares were traded in the counter compared with average daily volume of 6,974 shares in the past one quarter. The stock hit a high of Rs 325.40 and a low of Rs 303 so far during the day. The stock hit a record high of Rs 360 on 1 August 2016. The stock hit a 52-week low of Rs 209.05 on 29 February 2016.

The mid-cap company has an equity capital of Rs 22.84 crore. Face value per share is Rs 2.

Techno Electric & Engineering Company said that the companys board of directors has considered and approved sale/disposal of 45 megawatts wind power assets of the company.

Techno Electric & Engineering Company provides high quality engineering, procurement and construction services to Indias core sector industries, both in the public and private domain.

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BS to announce September quarter results
Nov 21,2016

BS announced that a meeting of the Board of Directors of the Company will be held on 28 November 2016 to consider and take on record the Un-Audited Financial results for the quarter ended 30 September 2016.

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DCB Bank raises Tier 2 Capital of Rs 150 crore
Nov 21,2016

DCB Bank announced that the Capital Raising Committee (CRC) of Board of Directors of the Bank, by a resolution passed in the meeting held on 19 November 2016 has issued and allotted 15,000 Non-Convertible, Redeemable, Unsecured, Basel III Compliant Tier 2 Bonds, for Inclusion in Tier 2 Capital of the Bank in the nature of debentures of the face value of Rs. 1,00,000/- (Rupees One Lakh only) each (Bonds) at par aggregating to Rs. 150 crore (Rupees One Hundred Fifty Crores only) in dematerialized form to the identified investor(s) on Private Placement basis with interest @ 9.85% per annum for a period of ten years from 18 November 2016 (the Deemed Date of Allotment).The Bonds have been rated [ICRA] A+(hyb) as affirmed by ICRA Limited vide letter dated November 04, 2016.

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Premier Synthetics gets reaffirmation of ratings for preference shares
Nov 21,2016

Premier Synthetics announced that Credit Analysis & Research has reaffirmed the rating of CARE B for Non Cumulative Non Convertible Redeemable Preference Shares (Rs 9.50 crore).

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Gujarat Gas advances after strong Q2 results
Nov 21,2016

The result was announced after market hours on Friday, 18 November 2016.

Meanwhile, the S&P BSE Sensex was down 314.13 points or 1.2% at 25,836.11.

On BSE, so far 40,000 shares were traded in the counter as against average daily volume of 25,000 shares in the past two weeks. The stock hit a high of Rs 560.90 and a low of Rs 537.65 so far during the day. The stock had hit a record high of Rs 690.35 on 19 August 2016. The stock had hit a 52-week low of Rs 477 on 1 March 2016. The stock underperformed the market over the past one month till 18 November 2016, sliding 10.62% compared with 6.78% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 18.99% as against Sensexs 7.02% fall.

The mid-cap company has equity capital of Rs 137.68 crore. Face value per share is Rs 10.

Gujarat Gas is a city gas distribution company with presence spread across 19 districts in Gujarat and the Union Territory of Dadra Nagar Haveli and the Thane geographical area which includes Palghar district of Maharashtra.

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Punjab & Sind Bank revises interest rates on domestic term deposits
Nov 21,2016

Punjab & Sind Bank has revised interest rates on domestic term deposits of less than Rs one crore for different maturity period with effect from 21 November 2016

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Outcome of Techno Electric & Engineering Company
Nov 21,2016

The Board of Techno Electric & Engineering Company at its meeting held on 19 November 2016 approved the shifting of registered office of the Company from the State of West Bengal to State of Uttar Pradesh. The Board also approved the sale of 45 MW wind power assets of the Company, subject to approval of shareholders and other authorities.

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Adani plans two major solar projects
Nov 21,2016

Adani Enterprises announced that the Adani Group proposes to commence construction of two major solar projects in Australia next year, each with an output of 100-200 MW.

Land agreements are in place for the projects in South Australia and Queensland and Adani has commenced the design and tendering phases for both projects.

Adani aims to develop renewable energy projects in Australia with a total capacity of1,500 MW within the next five years.

The Australian solar projects are in addition to Adanis $16.5 billion investment in the planned Carmichael coal mine in Queenslands Galilee Basin a well as rail and port facilities.

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Board of TeleCanor Global decide to seek shareholders approval for sale of land
Nov 21,2016

TeleCanor Global announced that the Board of Directors of the Company at its meeting held on 19 November 2016 has resolved to conduct EGM of seek shareholders approval for sale of land located in Rambili Mandal in Vizag District on 17 December 2016.

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Shalimar Paints intimates of fire accident at plant in Igatpuri
Nov 21,2016

Shalimar Paints announced that there has been a fire accident in one of the plants of the Company situated at Gonde Dumala, Igatpuri, Nasik on 19 November 2016.

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Panacea Biotec recieves EIR for its companys Oncology Parenteral and Oral Solids Dosage formulations facility in Baddi
Nov 21,2016

Panacea Biotec has received Establishment Inspection Report (EIR) from USFDA indicating formal closure of the cGMP and pre-approval inspection conducted by USFDA, at the companys Oncology Parenteral and Oral Solids Dosage formulations facility at Malpur, Baddi, Himachal Pradesh.

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Jaiprakash Power Ventures director resigns
Nov 21,2016

Jaiprakash Power Ventures announced with a view to facilitate periodic reconstitution of the Board of the Company, Shyam Datt Nailwal, non-executive, non-independent Director of the Company has submitted his resignation from the Board which has been received by the Company on 18 November 2016, which date shall be treated as effective date.

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Dilip Buildcon bags road project worth Rs 198 crore
Nov 21,2016

Dilip Buildcon announced that its has been declared successful bidder by the Ministry of Road Transport & Highways for the project of rehabilitation and upgradation of Rayachoti- Kadapa Road on NH-18 two lane with paved shoulder in the State of Andhra Pradesh on EPC mode at a project cost of Rs 198 crore having length of 51.350 km to be completed in period of 18 months.

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Board of Gillanders Arbuthnot & Company allots preference shares
Nov 21,2016

Gillanders Arbuthnot & Company announced that the Board of Directors at its Meeting held on 19 November 2016, inter alia, has decided /approved the following:

- Allotment of 6,50,000 numbers of 7.75% Cumulative Redeemable Preference Shares of Rs.100/-each to Kothari Investment & Industries and 5,60,000 numbers of 7.75% Cumulative Redeemable Preference Shares of Rs.100/- each to Kothari & Company Private Limited on private lacement basis being the Promoter Group Companies.

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HDFC declines after announcement of selling Unitechs loan
Nov 21,2016

The announcement was made after market hours on Friday, 18 November 2016.

Meanwhile, the S&P BSE Sensex was down 271.37 points or 1.04% at 25,878.87.

On BSE, so far 9,026 shares were traded in the counter as against average daily volume of 4.62 lakh shares in the past two weeks. The stock hit a high of Rs 1,252 and a low of Rs 1,223 so far during the day. The stock had hit a 52-week low of Rs 1,012 on 25 February 2016. The stock had hit a record high of Rs 1,463.25 on 7 September 2016. The stock underperformed the market over the past one month till 18 November 2016, sliding 7.46% compared with 6.78% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 8.97% as against Sensexs 7.02% fall.

The large-cap company has equity capital of Rs 316.80 crore. Face value per share is Rs 2.

Detailing the rationale behind the move, HDFC stated that over the last three decades, it has funded various projects of the Unitech Group and that HDFCs current exposure to the Group involves funding of certain projects across various locations. In the recent past, the Unitech Group has faced sluggishness in the sale of apartments in its projects. This has affected the cashflows of the Group, which in turn has had an adverse impact on the progress of construction, and has resulted in irregular servicing of the loans. Under these circumstances, HDFC has assigned the outstanding loans in these projects to JM Financial Asset Reconstruction Company (JMFARC). All these projects are located in prime locations, are financially viable but require additional funding. JMFARC will arrange for funds to support and kick-start these projects. The progress of the projects and the resultant cash flows will thereafter be closely monitored.

Against the total dues of Rs 869 crore in respect of these projects, JMFARC has paid HDFC Rs 155 crore upfront and has issued security receipts (SRs) to HDFC amounting to Rs 705 crore which will be redeemable over the period of construction. Though these accounts were standard assets as at 30 September 2016, and turned non-performing assets (NPA) only at the end of October 2016, in view of the irregular payment history, HDFC said, it has over the last few quarters as a matter of prudence, made provisions amounting to Rs 240 crore in respect of these accounts. No further provisioning is required as a result of the sale of the loans to JMFARC. After considering the provision of Rs 240 crore already made (34% of the SRs) the net carrying value of the SRs will be Rs 465 crore.

HDFCs consolidated net profit rose 16.1% to Rs 2446.21 crore on 16.5% increase in total income to Rs 14526.69 crore in Q2 September 2016 over Q2 September 2015.

HDFC is Indias first retail housing finance company and is currently one of the largest originators of housing loans in the country.

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