STOCKS NEW TODAY – 29.08.2016

STOCKS NEW TODAY – 29.08.2016

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* ADANI ENTERPRISES: Promoters Gautam Adani and Rajesh Adani have pledged an additional 16.5 mln shares of 1.50% stake to STCI Finance.

* ALLCARGO LOGISTICS: Will invest up to 1.7 bln rupees this fiscal to purchase land for a logistics park on the outskirts of Delhi and a container freight station in Kolkata.

* AUROBINDO PHARMA: The company and drugmaker Intas submitted binding offers of about $1 bln on Friday to buy Teva Pharmaceutical Industries' UK and Irish business.

* BHARTI AIRTEL: Has announced its 'India with Airtel' suite of services that brings all of its telecom and connectivity solutions under one roof, to meet the needs of global companies looking to set up business in India.

* BHARAT ELECTRONICS: Will set up a unit to manufacture night vision products near Machilipatnam  in Andhra Pradesh.

* BHARAT FINANCIAL INCLUSION: Issued commercial papers worth 250 mln rupees, taking its
aggregate outstanding commercial papers amount to 3 bln rupees.

* CAPITAL TRUST: Has obtained approval from the Reserve Bank of India to acquire 100% stake in
microfinance lender Parikarma Investments and Financial Services.

* CLARIS LIFESCIENCES: The Ahmedabad manufacturing unit of its subsidiary Claris Injectables has received Form 483 from the US Food and Drug Administration with five observations.

* COAL INDIA: Will invest 128.3 bln rupees in 2016-17 (Apr-Mar) as part of capital expenditure and on projects such as railway infrastructure, solar power, and revival of fertiliser plants.

* DCB BANK: Has reduced its marginal cost of funds-based lending rates by 4 basis points across all
tenures, effective Thursday.

* DENA BANK: Will seek the approval of its board of directors to issue Basel-III compliant tier-II bonds of up to 11 bln rupees.

* ELECTROSTEEL CASTINGS: Reported a net profit of 110.69 mln rupees, up 86.3% on year and net sales of 4.2 bln rupees, down 12.9%.

* EVEREADY INDUSTRIES INDIA: The Competition Commission of India has made queries at the company's corporate office in Kolkata.

* FUTURE ENTERPRISES: Parent company Future Group has decided to close the chain's ambitious online retail venture Big Bazaar Direct, finding the business unviable.

* GMR INFRASTRUCTURE: GMR Airports, arm of the company, has won a bid to develop and manage operations of Mopa Greenfield Airport in North Goa.

* HINDUSTAN ZINC: The government has no 'strategic interest' in holding a minority 29.5% stake in the company, according to Minister of State with Independent Charge for Power, Coal, New and Renewable Energy and Mines Piyush Goyal.

* HCL TECHNOLOGIES: Has approved the company's proposal to drop plans to transfer India system integration operations to its subsidiary HCL Comnet.

* INDIAN OIL CORP: Will invest around 13.3 bln rupees in two phases to complete the conversion from BS-III to a cleaner fuel by the end of this year.

* JBF INDUSTRIES: Reported a net profit of 98.3 mln rupees, down 49.6% on year and net sales of 9.4 bln rupees, up 4.7%.

* JSW STEEL: Has committed an investment of 500 bln rupees in Odisha for a 10-mln tn steel project.

* LARSEN & TOUBRO: Has set a sales target of 2 trln rupees by 2021 without compromising on margins, and having a sustained order inflow of over 2.5 trln rupees a year. The company will focus on seven Africa countries and three south east Asian countries to offset the slowdown in infrastructure business in West Asia, caused by weak oil prices. A.M. Naik, the executive chairman of the company, officially anointed S.N. Subrahmanyan as his successor at the company's annual general meeting.

* MAHINDRA & MAHINDRA: Launched Mahindra Digisense, a solution that connects its trucks and tractors to a cloud computing platform giving real time alerts and data to users regarding health of a vehicle.

* MONSANTO INDIA: Monsanto's decision to withdraw its application seeking environmental clearance for commercial cultivation of its new Bt cotton trait is a pressure tactic. Facing roadblocks in India over sale of its genetically modified products, parent Monsanto is engaging in hectic lobbying with US lawmakers to seek their support for its interest in the Indian market.

* NBCC (INDIA): The government has asked merchant bankers to submit financial bids to divest 15% of its stake in the company.

* NESTLE INDIA: Has launched Nestle a+ PRO-GROW, a milk-based food for children, at 99 rupees for a 1 ltr pack and 30 rupees for the 180 ml pack.

* OIL AND NATURAL GAS CORP: Has hired US-based consultant Ryder Scott to assess natural gas reserves in Gujarat State Petroleum Corp's Deendayal block before deciding to buy a stake in it.

* POWER GRID CORP: The power ministry is looking to engage the company to electrify 1,000 km of rail tracks on a pilot basis, as part of plans to energise 35,000 km of un-electrified lines.

* PROCTER GAMBLE HYGIENE & HEALTH CARE: Reported a net profit of 1.1 bln rupees, up 2.2% on year, and net sales of 5.6 bln rupees, unchanged from last year.
The company recommended a dividend of 36 rupees per share which will be paid during Dec 1-15.

* SITI NETWORKS: The board of the company has given in-principle approval to raise $100 mln through the issuance of securities.

* STATE BANK OF INDIA: With high bad loans limiting its business growth, several public sector banks including the lender and BANK OF INDIA are exploring ways to bolster capital bases on top of the capital infusion by the Centre.

* SUN PHARMACEUTICAL INDUSTRIES: The US Food and Drug Administration has warned Frontida BioPharm over discrepancies in records related to manufacturing practices followed by the company. Frotinda acquired two manufacturing units from SUN PHARMA in June.

* TATA MOTORS: Reported a consolidated net profit of 22.4 bln rupees, down 57% on year, and net
sales of 661.0 bln rupees, up 10.0% on year.

* WELSPUN INDIA: Has appointed EY to review its supply-chain systems and process.