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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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Sobha consolidated net profit declines 1.03% in the September 2016 quarter
Nov 22,2016

Net profit of Sobha declined 1.03% to Rs 38.40 crore in the quarter ended September 2016 as against Rs 38.80 crore during the previous quarter ended September 2015. Sales rose 8.22% to Rs 539.50 crore in the quarter ended September 2016 as against Rs 498.50 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales539.50498.50 8 OPM %19.1721.77 - PBDT76.6074.80 2 PBT61.2062.20 -2 NP38.4038.80 -1

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Vinayak Vanijya reports standalone net loss of Rs 0.01 crore in the September 2016 quarter
Nov 22,2016

Net Loss of Vinayak Vanijya reported to Rs 0.01 crore in the quarter ended September 2016 as against net loss of Rs 0.01 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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Novagold Petro-Resources standalone net profit declines 50.00% in the September 2016 quarter
Nov 22,2016

Net profit of Novagold Petro-Resources declined 50.00% to Rs 0.01 crore in the quarter ended September 2016 as against Rs 0.02 crore during the previous quarter ended September 2015. Sales declined 40.00% to Rs 0.18 crore in the quarter ended September 2016 as against Rs 0.30 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.180.30 -40 OPM %5.566.67 - PBDT0.010.02 -50 PBT0.010.02 -50 NP0.010.02 -50

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Alpha Graphic India reports standalone net profit of Rs 0.01 crore in the September 2016 quarter
Nov 22,2016

Net profit of Alpha Graphic India remain constant at Rs 0.01 crore in the quarter ended September 2016 and also during the previous quarter ended September 2015. Sales declined 60.00% to Rs 0.16 crore in the quarter ended September 2016 as against Rs 0.40 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.160.40 -60 OPM %6.252.50 - PBDT0.010.01 0 PBT0.010.01 0 NP0.010.01 0

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Williamson Financial Services reports standalone net loss of Rs 2.37 crore in the September 2016 quarter
Nov 22,2016

Net loss of Williamson Financial Services reported to Rs 2.37 crore in the quarter ended September 2016 as against net profit of Rs 3.35 crore during the previous quarter ended September 2015. Sales declined 27.42% to Rs 7.49 crore in the quarter ended September 2016 as against Rs 10.32 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales7.4910.32 -27 OPM %72.63122.58 - PBDT-2.373.35 PL PBT-2.373.35 PL NP-2.373.35 PL

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M-wallet/digital payment cos. must win customers trust for widespread adoption, says study
Nov 22,2016

With a view to win customers trust, companies operating in the mobile-wallet sector should take measures like providing effective, completely secure, private and reliable services, 3-D or OTP (one time password) security options, data back-up system and others to spread awareness among people, suggested an ASSOCHAM-RNCOS joint study.

n++Crystal clear policies and a common regulatory body for all m-wallets (closed, semi-closed and others) are required to bring clarity in procedures and policies between m-wallet companies and the Reserve Bank of India (RBI),n++ suggested the study titled Indian m-wallet market: Forecast 2022, conducted by ASSOCHAM jointly with research firm RNCOS.

n++A strong authentication mechanism must be put in place to bind the identity of the user to the authorization of the transaction thereby being extremely mindful of authentication and risk assessment,n++ said Mr D.S. Rawat, secretary general, ASSOCHAM while releasing the findings of the study.

n++As the mobile payment space evolves, the stakeholders must create secure transactions that foster consumer trust, besides, m-wallet companies must provide a much more secure payment authentication process out to the masses,n++ said Mr Rawat.

The Indian m-wallet market in FY 2016 was around INR 1.54 billion or Rs 154 crore, and it is expected to grow at a compounded annual growth rate (CAGR) of 141 per cent during the period between 2015-16 to 2021-22 and reach till INR 300 billion or Rs 30,000 crore by the end of FY 2022 driven by growing usage of smartphones, robust mobile internet penetration, growth of e-commerce sector together with increasing disposable incomes, the study noted.

It is also anticipated that the market value of m-wallet transactions in India will grow at a CAGR of 154 per cent during the period FY 2016 to FY 2022, and reach INR 55 trillion or Rs 55 lakh crore from INR 206 billion or Rs 20,600 crore, more so as m-wallet transaction is among the fastest growing paperless modes of payment or banking, and it is expected that the majority of transactions will go paperless in the next 10 years.

Besides, in FY 2016, the total m-wallet transaction was 0.6 billion; and it is expected to reach 120 billion by FY 2022, growing at a CAGR of 142 per cent.

M-wallet market can be segmented into three broad services - money transfers from wallet to wallet, bank to wallet and vice versa which accounts for 38 per cent share followed by recharge and bill payments for mobile, DTH, landline, electricity and other such services (31 per cent share) and the remaining share of 31 per cent is captured by online shopping, hotel/travel/movie ticket reservations, online food order, payment of insurance premium, recharging metro rail card and others.

While mobile wallet service contributed 21 per cent share in mobile payment volume transactions in FY16, its share in total mobile payment volume transactions is expected to increase to 79 per cent by FY22.

However, it said that the Reserve Bank of India (RBI) licensing regime is discouraging mobile wallet growth in the country. n++The present system allows only e-transfer of money and approves semi-closed prepaid instrument issuance while it does not allow cash out from the semi-closed wallet.n++

Besides, for all the entities (including banks, non-banking finance companies (NBFCs), telecos and others) to operate any kind of m-wallet, there are copious of strict RBI policies which encumbrance the growth of m-wallet sector in India.

n++The RBI should relax its current policies and allow cash withdrawals from the semi-closed wallets,n++ suggested the study.

The consumers mindset is the biggest factor that hinders the growth of Indian m-wallet market, as they are more sceptical about the safety and security issues as in the case of internet banking as users worry that their devices could be hacked or attacked by some kind of viruses, noted the ASSOCHAM-RNCOS study.

Also, often people complain that their money has been debited but the transaction got declined while transacting via mobile, and to avoid such problems users keep away from using mobile wallet related services, it added.

Privacy is another issue related to the growth of m-wallet industry as for all kinds of monetary transactions and other such services one needs to disclose his/her identity, which might create a huge problem for the customers if the hackers hack the security or wireless transmission and obtain all the information related to the social or financial matters, highlighted the study.

n++There is an urgent need for m-wallet based companies to spread awareness about their services across the country regarding the major issue of lack of awareness about their usage and benefits,n++ it said.

The ASSOCHAM-RNCOS study has suggested that m-wallet companies should expand their reach by offering services through agents and distributors in order to capture large consumer base.

n++They should establish more and more distributors or agents outlets/office in the areas where there is poor or no internet connectivity,n++ it said.

It is also recommended that companies in this domain should increase both - the limit of number of transaction and transaction amount even in case of basic account.

Introducing lucrative schemes and offers can also go a long way in strengthening the customer base for m-wallet companies like a small amount of interest on the amount kept in the wallet for a month/quarter/year would attract customers to load money in their wallet to get interest rate benefits.

Besides, there is a need for technological advancement by the m-wallet companies so that their m-wallets are compatible with all operating systems and they do not have pay extra money every time to launch their application on a new platform.

n++The m-wallet companies must develop a common platform for their application to save money and time as this would ultimately result in reduction in cost and expansion in user base and hence revenue,n++ further noted the ASSOCHAM-RNCOS study.

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IDBI Bank takes possesion of properties of Sirpur Paper Mills
Nov 22,2016

Sirpur Paper Mills announced that IDBI Bank has issued a possession notice, stating that it has taken the possession of the secured properties of the Company u/s13 (4)of the SARFAESI Act read with Rule 8(1) of the Rules.

Further, the Company has been granted extension by RoC, Hyderabad to hold the AGM up to 31 December 2016.

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Rupee sags further
Nov 22,2016

Rupee closed lower at 68.2079/2220 per dollar on Tuesday (22 November 2016), versus its previous close of 68.1550/1650 per dollar.

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Sphere Global Services incorporates new subsidiary
Nov 22,2016

Sphere Global Services announced that the Company has incorporated a wholly owned subsidiary in the Fujairah, UAE by the name of Sphere Global Services FZ LLC. The principal business activity is IT Consultancy.

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Larsen & Toubro allots equity shares
Nov 22,2016

Larsen & Toubro has allotted 3,42,722 (Three Lakh Forty Two Thousand Seven Hundred Twenty Two) shares on 22 November 2016 to those grantees who had exercised their options under the Companys Employee Stock Ownership / Option Schemes.

The said shares will rank pari-passu with the existing shares of the Company in all respects.

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Outcome of board meeting of Jindal Stainless (Hisar)
Nov 22,2016

Jindal Stainless (Hisar) announced that the Board of Directors of the Company at its meeting held on 22 November 2016 approved the following -

Acceptance of fixed deposits from public including members and directors, subject to approval of shareholders.

In terms of the court approved composite scheme of arrangement, the business undertaking of Jindal Stainless comprising of mining division but excluding the Chromite ore mine located at Odisha, has been demerged from Jindal Stainless and vest with the Company pursuant to the scheme. Since the Government of Odisha has refused to transfer the Chromite ore mine located at Odisha, the said mine will continue to vest with Jindal Stainless.

The operations of the Ferro Alloys unit at Kothavalasa in Vizianagaram district, Andhra Pradesh which has been demerged in the Company from Jindal Stainless as part of the Composite Scheme of Arrangement, were under temporary shut down effective 13 September 2015. The operations of this unit are proposed to be started from 29 November 2016 onwards.

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Forthcoming Budget will have stipulations for simplified direct and indirect taxation: MOS Finance
Nov 22,2016

Minister of State for Finance, Mr. Arjun Ram Meghwal promised that the forthcoming budget would have stipulation and provisions that would lead to further simplification of tax administration and tax dispensation of both direct and indirect taxes to enable business community to render their transaction smoothly and effectively.

In his Valedictory address at International Tax Conference : Global Tax Issues & Recent Developments under aegis of PHD PHD Chamber of Commerce and Industry, Mr. Meghwal described the demonetization move of the NDA government as a step that would severely attack the menace of cross border terrorism and its funding besides substantially reducing the threat of rising black money.

n++Tax administration and tax policies need to be further simplified to promote ease of doing business as well as its facilitation. The forthcoming budget would reflect and adequately cater to this effectn++, said Mr. Meghawal adding that the government of the day is committed to eliminate corruption and red tape.

n++The decision to demonetize the Rs.500 and Rs.1,000 notes is one such step in this direction and many more such moves would follow as Prime Minister Mr. Modi is determined to purge the system from all its ailmentsn++, said the Minister.

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FPIs on a selling drive
Nov 22,2016

Foreign portfolio investors (FPIs) sold stocks worth a net Rs 1241.90 crore into the secondary equity markets on 21 November 2016, compared with their net outflow of Rs 934.37 crore during the preceding trading session on 18 November 2016. The net outflow of Rs 1241.90 crore on 21 November 2016 was a result of gross purchases of Rs 4355.29 crore and gross sales of Rs 5597.19 crore. On that day, the Sensex lost 385.10 points or 1.47% to settle at 25,765.14, its lowest closing level since 24 May 2016.

There was a net inflow of Rs 0.89 crore into the category primary markets & others on 21 November 2016, which was a result of gross purchases of Rs 0.89 crore and nil gross sales.

FPIs have sold stocks worth a net Rs 13841.60 crore into the secondary equity markets in this month so far (till 21 November 2016). They sold shares worth a net Rs 5258.22 crore from the secondary equity markets last month. FPIs have purchased shares worth a net Rs 27329.45 crore from the secondary equity markets in calendar year 2016 so far (till 21 November 2016). They sold shares worth a net Rs 4863.71 crore into the secondary equity markets in calendar year 2015.

There has been a net inflow of Rs 1886.24 crore from FPIs into the category primary markets & others in this month so far (till 21 November 2016). There was a net inflow of Rs 951.96 crore from FPIs into the category primary markets & others last month. The net inflow from FPIs into category primary markets & others has totaled Rs 7701.91 crore in calendar year 2016 so far (till 21 November 2016). There was net inflow of Rs 22168.40 crore from FPIs into the category primary markets & others in calendar year 2015.

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Agenda for board meeting of Virgo Global Media
Nov 22,2016

Virgo Global Media announced a meeting of the Board of Directors of the Company will be held on 24 November 2016, inter alia, to consider the following:

1. To consider and approve Notice of 18th Annual General Meeting of the Company.

2. To consider and approve the Directors report of the Company.

3. To consider and approve Notice of Postal Ballot.

4. To consider and approve the calendar of events for postal ballot.

5. To consider and approve the calendar of events for Annual General Meeting.

6. To Consider and approve appointment of VCSR & Associates, Practicing Company Secretaries as Scrutinizer for announcement of e-voting results and polling results at ensuing Annual General Meeting and for Conducting Postal Ballot Process.

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Voltaire Leasing & Finance announces change in CFO
Nov 22,2016

Voltaire Leasing & Finance announced that on the recommendation made by the Nomination & Remuneration Committee the Board of Directors at its meeting held on 22 November 2016 which interalia; approves the appointment of Minakshi Kishor Naruka as Chief Financial Officer of the Company with effect from 22 November 2016 consequent to the resignation of Birbal Chunnilal Jangir as a Chief Financial Officer.

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