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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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Hong Kong Market climb on solid China trade, Fed signal
Jul 13,2017

The Hong Kong stock market ended higher fourth straight session on Thursday, 13 July 2017, bolstered by Chinas solid trade data and Federal Reserve Chair Janet Yellens signal to adopt a patient approach in the current U.S. rate-tightening phase. All main sectors rose, with raw materials, consumer and energy shares leading the gain. The Hang Seng index jumped 1.2 percent, to 26,346.17, while the China Enterprises Index gained 1.5 percent, to 10,677.44 points. Turnover increased to HK$96.3 billion from HK$86 billion on Wednesday.

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China Stocks rise on solid trade data
Jul 13,2017

The Mainland China equity market finished session higher on Thursday, 13 July 2017, as better-than-expected trade data and Federal Reserve Chair Janet Yellens signal to adopt a patient approach in the current US rate-tightening phase boosted market sentiment. The benchmark Shanghai Composite Index closed up 0.64 percent at 3,218.16, and the smaller Shenzhen Component Index closed 0.12 percent higher at 10,466.10. The ChiNext Index, Chinas NASDAQ-style board, lost 0.44 percent to close at 1,778.86. Total turnover on the two bourses came in at 438 billion yuan.

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Nikkei holds 20K level
Jul 13,2017

The Japan share market finished session edge above the neutral line on Thursday, 13 July 2017, helped by U.S. Federal Reserve chairperson Janet Yellen signaled to raise interest rates in the congressional testimony on Wednesday. The Nikkei 225 closed up 0.01 percent or 1.43 points, at 20,099.81.

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Australia Market ends higher after Yellen rate remarks
Jul 13,2017

Australian equity market finished session higher on Thursday, 13 July 2017, mirroring gains on Wall Street overnight, after Federal Reserve Chairwoman Janet Yellen sounded dovish in her first day of Capitol Hill testimony. The S&P/ASX 200 index ended up 1.1% or 63 points at 5736.8.

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No GST on Annual subscription/fees charged as lodging/boarding charges by educational institutions from its students for hostel accommodation
Jul 13,2017

There are some reports that GST@18% will be levied on annual subscription/fees charged for lodging in hostels. This is not true. There is no change in tax liability relating to education and related services in the GST era, except reduction in tax rate on certain items of education.

It may be mentioned that services provided by an educational institution to students, faculty and staff are fully exempt. Educational institution has been defined as an institution imparting

(i) pre-school education and education up to higher secondary school or equivalent;

(ii) education as a part of a curriculum for obtaining a qualification recognised by any law for the time being in force;

(iii) education as a part of an approved vocational education course.

Thus, services of lodging/boarding in hostels provided by such educational institutions which are providing pre-school education and education up to higher secondary school or equivalent or education leading to a qualification recognised by law, are fully exempt from GST. Annual subscription/fees charged as lodging/boarding charges by such educational institutions from its students for hostel accommodation shall not attract GST.

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Rupee sustains momentum
Jul 13,2017

Rupee closed higher at 64.54/5425 per dollar on Thursday (13 July 2017), versus its previous close of 64.6725/6800 per dollar.

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DIPP to set up Indias first TISC in Punjab
Jul 13,2017

The Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce & Industry, Government of India, signed an Institutional agreement with the Punjab State Council of Science and Technology in New Delhi today to establish Indias first Technology and Innovation Support Center (TISC) at Patent Information Centre, Punjab, under the World Intellectual Property Organizations (WIPO) TISC program.

The objective of the TISC is to stimulate a dynamic, vibrant and balanced Intellectual Property Rights (IPRs) system in India to foster creativity and innovation, thereby promoting entrepreneurship and enhancing social, economic and cultural development by establishing a network of TISCs in India.

WIPOs Technology and Innovation Support Center (TISC) program provides innovators in developing countries with access to locally based, high quality technology information and related services, helping them to exploit their innovative potential and to create, protect, and manage their Intellectual Property Rights (IPRs).

Services offered by TISCs include:

n++ Access to online patent and non-patent (scientific and technical) resources and IP-related publications;

n++ Assistance in searching and retrieving technology information;

n++ Training in database search;

n++ On-demand searches (novelty, state-of-the-art and infringement);

n++ Monitoring technology and competitors;

n++ Basic information on industrial property laws, management and strategy, and technology commercialization and marketing.

The Cell for IPR Promotion and Management (CIPAM) is designated as the National Focal Point for the TISC national network. As the national focal point, CIPAM shall identify potential host institutions, assess their capacities and support them in joining the TISC program. CIPAM will also act as the main intermediary between WIPO and TISC host institutions and coordinate all the activities of the national TISC network.

Over 500 TISCs operate worldwide and establishing TISC in India will give the host institutions an access to the global network. In upcoming years, CIPAM is planning to establish TISCs in Universities, State Science Councils, R&D institutions etc. TISC will give an impetus to knowledge sharing, sharing of best practices among the TISCs, capacity building, generation and commercialization of IPs.

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Granules India allots 50,000 equity shares
Jul 13,2017

Granules India announced that the Share Transfer and Stakeholders Relationship Committee at its meeting dated 13 July 2017 have approved to allot 50,000 equity shares in consequent to exercise of stock options under ESOS 2009.

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ICICI Bank allots 25,705 equity shares
Jul 13,2017

ICICI Bank has allotted 25,705 equity shares of face value of ` 2/- each on 10 July 2017 under the Employees Stock Option Scheme, 2000 (ESOS).

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Services provided by the Housing Society Resident Welfare Association (RWA) not to become expensive under GST
Jul 13,2017

There are some press reports that services provided by a Housing Society [Resident Welfare Association (RWA)] will become expensive under GST. These are completely unsubstantiated.

It may be mentioned that supply of service by RWA (unincorporated body or a registered non- profit entity) to its own members by way of reimbursement of charges or share of contribution up to an amount of five thousand rupees per month per member for providing services and goods for the common use of its members in a housing society or a residential complex are exempt from GST.

Further, if the aggregate turnover of such RWA is upto Rs.20 Lakh in a financial year, then such supplies would be exempted from GST even if charges per member are more than Rs. five thousand.

RWA shall be required to pay GST on monthly subscription/contribution charged from its members if such subscription is more than Rs. 5000 per member and the annual turnover of RWA by way of supplying of services and goods is also Rs. 20 lakhs or more. Under GST, the tax burden on RWAs will be lower for the reason that they would now be entitled to ITC in respect of taxes paid by them on capital goods (generators, water pumps, lawn furniture etc.), goods (taps, pipes, other sanitary/hardware fillings etc.) and input services such as repair and maintenance services. ITC of Central Excise and VAT paid on goods and capital goods was not available in the pre-GST period and these were a cost to the RWA.

Thus, there is no change made to services provided by the Housing Society (RWA) to its members in the GST era.

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Vista Pharmaceuticals gets USFDA warning letter
Jul 13,2017

Vista Pharmaceuticals announced that the Company has been issued a warning letter by the United States Food and Drug Administration (USFDA), in response to its detailed reply submitted in October 2016. The Company will respond with complete details of remedial action to USFDA before the stipulated date.

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Chartered Logistics secures order worth Rs 24.64 crore
Jul 13,2017

Chartered Logistics bagged an order worth Rs 24.64 crore from ONGC Petro-additions to be executed in a period of two years. The order is for hiring domestic road transportation services for Polymer products - West 1, West 2 and South 1 cluster for OPaLs petrochemical complex in Dahej.

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Water storage level of 91 major reservoirs of the country goes up by two per cent
Jul 13,2017

The water storage available in 91 major reservoirs of the country for the week ending on July 13, 2017 was 36.108 BCM, which is 23% of total storage capacity of these reservoirs. This percentage was at 21 for the week ending on July 06, 2017. The level of July 13, 2017 was 85% of the storage of corresponding period of last year and 82% of storage of average of last ten years.

The total storage capacity of these 91 reservoirs is 157.799 BCM which is about 62% of the total storage capacity of 253.388 BCM which is estimated to have been created in the country. 37 Reservoirs out of these 91 have hydropower benefit with installed capacity of more than 60 MW.

REGION WISE STORAGE STATUS:-

NORTHERN REGION

The northern region includes States of Himachal Pradesh, Punjab and Rajasthan. There are six reservoirs under Central Water Commission (CWC) monitoring having total live storage capacity of 18.01 BCM. The total live storage available in these reservoirs is 6.12 BCM which is 34% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 28% and average storage of last ten years during corresponding period was 37% of live storage capacity of these reservoirs. Thus, storage during current year is better than the corresponding period of last year but is less than the average storage of last ten years during the corresponding period.

EASTERN REGION

The Eastern region includes States of Jharkhand, Odisha, West Bengal and Tripura. There are 15 reservoirs under CWC monitoring having total live storage capacity of 18.83 BCM. The total live storage available in these reservoirs is 3.62 BCM which is 19% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 22% and average storage of last ten years during corresponding period was 22% of live storage capacity of these reservoirs. Thus, storage during current year is less than the corresponding period of last year and is also less than the average storage of last ten years during the corresponding period.

WESTERN REGION

The Western region includes States of Gujarat and Maharashtra. There are 27 reservoirs under CWC monitoring having total live storage capacity of 27.07 BCM. The total live storage available in these reservoirs is 7.07 BCM which is 26% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 19% and average storage of last ten years during corresponding period was 28% of live storage capacity of these reservoirs. Thus, storage during current year is better than the storage of last year but is less than the average storage of last ten years during the corresponding period.

CENTRAL REGION

The Central region includes States of Uttar Pradesh, Uttarakhand, Madhya Pradesh and Chhattisgarh. There are 12 reservoirs under CWC monitoring having total live storage capacity of 42.30 BCM. The total live storage available in these reservoirs is 12.09 BCM which is 29% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 42% and average storage of last ten years during corresponding period was 25% of live storage capacity of these reservoirs. Thus, storage during current year is less than the storage of last year but is better than the average storage of last ten years during the corresponding period.

SOUTHERN REGION

The Southern region includes States of Andhra Pradesh,Telangana, AP&TG (Two combined projects in both states) Karnataka, Kerala and Tamil Nadu. There are 31 reservoirs under CWC monitoring having total live storage capacity of 51.59 BCM. The total live storage available in these reservoirs is 7.21 BCM which is 14 % of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 20% and average storage of last ten years during corresponding period was 29% of live storage capacity of these reservoirs. Thus, storage during current year is less than the corresponding period of last year and is also less than the average storage of last ten years during the corresponding period.

States having better storage than last year for corresponding period are Himachal Pradesh, Punjab, West Bengal, Tripura, Gujarat, Uttar Pradesh, Chhattisgarh and Telangana. States having equal storage than last year for corresponding period is Maharashtra. States having lesser storage than last year for corresponding period are Rajasthan, Jharkhand, Odisha, Uttarakhand, Madhya Pradesh, AP&TG (Two combined projects in both states), Andhra Pradesh, Karnataka, Kerala, and Tamil Nadu.

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Satin Creditcare spurts 17.4% in seven days
Jul 13,2017

Meanwhile, the S&P BSE Sensex was up 230.39 points or 0.72% at 32,035.21. The S&P BSE Small-Cap index rose 65.85 points or 0.41% at 15,962.86.

On the BSE, 57,000 shares were traded on the counter so far as against the average daily volumes of 31,094 shares in the past one quarter. The stock had hit a high of Rs 336 and a low of Rs 321.90 so far during the day. The stock had hit a record high of Rs 716.70 on 28 July 2016 and a record low of Rs 243.55 on 12 June 2017.

The stock had outperformed the market over the past one month till 12 July 2017, advancing 27.72% compared with the Sensexs 2.28% rise. The stock had, however, underperformed the market over the past one quarter, declining 5.39% as against the Sensexs 7.29% rise. The scrip had also underperformed the market over the past one year, sliding 34.71% as against the Sensexs 14.37% rise.

The small-cap company has equity capital of Rs 39.11 crore. Face value per share is Rs 10.

Shares of Satin Creditcare Network have jumped 17.48% in seven trading sessions to its current market price, from its close of Rs 284.30 on 4 July 2017.

On consolidated basis, Satin Creditcare Network reported net loss of Rs 43.11 crore in Q4 March 2017 as against net profit of Rs 24.93 crore in Q4 March 2016. Total income declined 78.1% to Rs 175.22 crore in Q4 March 2017 over Q4 March 2016.

Satin Creditcare Network is one of the leading microfinance companies with a strong presence in North India.

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Interworld Digital to hold board meeting
Jul 13,2017

Interworld Digital will hold a meeting of the Board of Directors of the Company on 15 July 2017, to consider and approve the appointment of Chief Financial Officer (CFO) of the Company

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