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Monsanto India Ltd share price today (on 22 September 2023).
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BSE: 524084 | NSE: MONSANTO | ISIN: INE274B01011 Market Cap: [Rs.Cr.] 1,167 | Face Value: [Rs.] 10 Industry: Pesticides / Agrochemicals - MultinationalMonsanto India Limited (MIL), a subsidiary of Monsanto, (USA), is a research based biotechnology company was incorporated on 8th December 1949 as a private limited Company at Mumbai, manufactures agro chemicals and hybrid seeds. It also markets Avadex, an herbicide used on wheat crops. MIL has a chemical production unit at Silvassa, hybrid seeds units at Bellary in Karnataka and Eluru in Andhra Pradesh and a packing unit at Guwahati. The Company has pioneered the chemical-weed-control concept in the country and is a market leader in rice herbicides which are marketed under the brand name 'MACHETE'. MIL's status was converted from private limited to public limited on 1st July of the year 1978. The Company had launched a wheat herbicide and marketed several specialty chemicals of Monsanto, USA as an agent in the year of 1990.
During the year 1996, MIL had entered into a non exclusive marketing arrangement with another Monsanto entity in India to market formulation/granulation manufactured by the company. In the year 2000, bio-informatics research unit of the company was closed as a part of the restructuring plans, but denied it was winding up R&D activities. During the same year, the Nutrition and Consumer Products Division of the company had launched Flix, a low calorie soft-drink concentrate. The Company name was change from Monsanto Chemicals of India Limited to the present one Monsanto India Limited with effect from 12th April of the year 2000. MIL had launched Leader Kanak Rath, an agricultural extension service programme, for farmers in Punjab and Haryana. In 2003, the company had shifted part of its packaging activities from Silvassa to a site in Guwahati. A team from the Silvassa based Manufacturing Plant of Monsanto India, which went beyond their daily scope of work to help colleagues in the field to reach and educate farmers, won the company's global Pledge Award for the year 2004, third year in succession that Monsanto India had won this award.
During the year 2004-05, the company expanded its corn drying facility at Bellary, Karnataka to meet the increased demand of gas dried seeds in local as well as in international markets. Kept in line with the Government's commitment, during the year 2005-06, the company saw the 'Bharat Nirman' project was implemented.
MIL had released three commercial maize hybrids in the Indian market, such as 900M Gold, Apoorva and DKC 7074 in the financial year of 2006-07 and also in the same year, the company had completed start-up of its high-tech double pass maize drier facility at Hyderabad. The business of developing, germplasm and of producing, packaging, distribution, marketing and sale of sunflower seeds of the company was sold and transferred to Devgen Seeds and Crop Technology in October of the year 2007. MIL resolute to sell and transfer its Butachlor and Alachlor businesses that includes the transfer of the flagship brands Machete, Fastmix and Lasso, to Sinochem International (Overseas) Pte Ltd., a Singapore-registered subsidiary of Sinochem International in January of the year 2008.
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