US major Monsanto Company plans to hike its stake in the Indian arm by buying back 328,000 equity shares to 75 per cent at a maximum price of Rs 575 per share.
Such a drastic intervention overrides existing private bilateral commercial contracts
Even as the country awaits the final word on genetically modified brinjal, seed company Monsanto is moving ahead with new products.
Companies featuring in the Next 500 list are mostly mid-sized and termed as the 'small wonders' by the magazine.
The environment ministry is likely to allow generic modification of food crops.
The 50-share NSE Nifty was trading lower by 24 points.
Index heavyweights Reliance Industries and ITC were the top losers along with ICICI Bank and SBI
Markets ended lower amid volatile trade with Sun Pharma leading the decline.
Monsanto has taken the government to court over the royalty.
TCS, ICICI Bank, Sun Pharma,Tata Motors and HDFC among the top losers for the day
One of the biggest ways in which recent government actions have been seen as investor-unfriendly is New Delhi's decision to unilaterally revisit almost every Bilateral Investment Treaty it has signed with other countries, says Mihir S Sharma.
Markets extended gains led by financials and capital goods shares coupled with a rebound in IT shares.
A large number of rich farmers, who earn more than salaried employees in the cities, get away with paying no tax at all in view of the government's lack of will to consider an agricultural income tax
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