STOCKS NEWS TODAY – 22.08.2016
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* BAJAJ FINANCE: Has raised 5.26 bln rupees through the issuance of two coupon-bearing bonds and two zero-coupon bonds.
* BANK OF BARODA: Four all-India bank employee unions had given a call for a one-day strike on Sep 2, adding that if the strike took place, some functioning of its branches could be affected.
* BHARTI AIRTEL: Has collaborated with Samsung to offer 10 GB Airtel 4G data at the price of 1GB 4G data to Samsung J series customers.
* CAIRN INDIA: The company's brand will remain intact and no restructuring will take place at the
company after its merger with parent VEDANTA. Vedanta Resources Chief Executive Officer Tom
Albanese said the revised offer for merger of Cairn India and Vedanta is final and will not be sweetened further.
* COAL INDIA: The company's employees will go on a one-day nation-wide strike on Sep 2, and if
reconciliatory measures are unsuccessful it "will affect production and dispatch of coal."
* DR REDDY'S LABORATORIES: Has received the approval of US Food and Drug Administration for the generic version of AbbVie Inc's Zemplar drug.
* FORTIS HEALTHCARE: Has approved the merger of its diagnostics arm SRL, along with all similar operations into arm Fortis Malar Hospitals. The company has also approved merger of Fortis Malar's hospitals business with itself.
* INDIABULLS HOUSING FINANCE: Plans to raise a total of 77 bln rupees by issuing non-convertible debentures on a private placement basis.
* INDIAN HOTELS CO: Has no plans to merge TAJ GVK HOTELS & RESORTS with itself.
* INDIAN OIL CORP: Centre's green panel has deferred its decision on granting environment clearance to state-run company's styrene and ethylene project at Panipat in Haryana.
* LARSEN & TOUBRO: Piramal Group's real estate firm Piramal Realty has awarded a 7-bln rupee
contract to the company for construction of its housing project in Mumbai.
* MAHINDRA & MAHINDRA: Has started working on the affordable electric sport utility vehicle,
codenamed S107, through its Mahindra Electric unit.
* NBCC India: Has secured a contract worth 1.2 bln rupees from the central government which includes construction of the Institute of Archaeology.
* NTPC: Has likely set 7.58% as the coupon on its bonds maturing in 10 years, having received bids
close to 7.5 bln rupees.
* OBEROI REALTY: Reported Apr-Jun consolidated net profit at 1.1 bln rupees, up 32.9% on year and net sales at 3.2 bln rupees, up 51.4% on year.
* POWER FINANCE CORP: Has got approval of its shareholders to raise up to 550 bln rupees through the issuance of various debt instruments and to issue bonus shares, by capitalising the securities premium account, on a one-for-one basis.
* POWER GRID CORP OF INDIA: Has approved investment of around 7.3 bln rupees in various projects in the northern region of the country.
* RELIANCE INDUSTRIES: Chairman Mukesh Ambani met telecom Secretary J.S. Deepak and Telecom Regulatory Authority of India Chairman R.S. Sharma to update them on the telecom unit's operations amid a raging war with India's largest telecom companies.
* SHRIRAM TRANSPORT FINANCE CO: Has raised 1.50 bln rupees through issuance of bonds maturing in three years at 8.50% coupon.
* SINTEX INDUSTRIES: The 5-bln-rupee rights issue of the company will open on Aug 29 and close on Sep 14.
* STATE BANK OF INDIA: Is set to be among the top 50 banks globally, following the merger of five of its associate banks and Bharatiya Mahila Bank with itself.
* SUN TV NETWORK: Reported Apr-Jun net profit at 2.3 bln rupees, up 19.0% on year and total income from operations at 7.6 bln rupees, up 10.3% on year.
* THOMAS COOK INDIA: Has acquired balance 24% stake, via its subsidiary Thomas Cook Lanka, in Sita World Travel Lanka.
* UJJIVAN FINANCIAL SERVICES: Has applied to the Reserve Bank of India for final go-ahead for bank licence for its wholly-owned subsidiary, Ujjivan Small Finance Bank.
* UNITED BANK OF INDIA: The government will infuse 6.1 bln rupees in the bank soon by subscribing to its shares at 22.73 rupees. This is a part of the government's total allocation of 8.1 bln rupees for the lender.
* VEDANTA: Top executives of the company and CAIRN INDIA, said their interaction with minority shareholders on merger has been encouraging, almost a month after the natural resources conglomerate improved the terms of the proposed transaction.
* WELSPUN CORP: Promoter MGN Agro Properties acquired around 6.9 mln shares or 2.6% stake in the company by way of market purchase on Thursday. MGN Agro now holds 41.33% stake in the company.
* WELSPUN INDIA: Target Corp is ending all business ties with the company after saying the supplier was sending it fake Egyptian cotton sheets.
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* BANK OF BARODA: Four all-India bank employee unions had given a call for a one-day strike on Sep 2, adding that if the strike took place, some functioning of its branches could be affected.
* BHARTI AIRTEL: Has collaborated with Samsung to offer 10 GB Airtel 4G data at the price of 1GB 4G data to Samsung J series customers.
* CAIRN INDIA: The company's brand will remain intact and no restructuring will take place at the
company after its merger with parent VEDANTA. Vedanta Resources Chief Executive Officer Tom
Albanese said the revised offer for merger of Cairn India and Vedanta is final and will not be sweetened further.
* COAL INDIA: The company's employees will go on a one-day nation-wide strike on Sep 2, and if
reconciliatory measures are unsuccessful it "will affect production and dispatch of coal."
* DR REDDY'S LABORATORIES: Has received the approval of US Food and Drug Administration for the generic version of AbbVie Inc's Zemplar drug.
* FORTIS HEALTHCARE: Has approved the merger of its diagnostics arm SRL, along with all similar operations into arm Fortis Malar Hospitals. The company has also approved merger of Fortis Malar's hospitals business with itself.
* INDIABULLS HOUSING FINANCE: Plans to raise a total of 77 bln rupees by issuing non-convertible debentures on a private placement basis.
* INDIAN HOTELS CO: Has no plans to merge TAJ GVK HOTELS & RESORTS with itself.
* INDIAN OIL CORP: Centre's green panel has deferred its decision on granting environment clearance to state-run company's styrene and ethylene project at Panipat in Haryana.
* LARSEN & TOUBRO: Piramal Group's real estate firm Piramal Realty has awarded a 7-bln rupee
contract to the company for construction of its housing project in Mumbai.
* MAHINDRA & MAHINDRA: Has started working on the affordable electric sport utility vehicle,
codenamed S107, through its Mahindra Electric unit.
* NBCC India: Has secured a contract worth 1.2 bln rupees from the central government which includes construction of the Institute of Archaeology.
* NTPC: Has likely set 7.58% as the coupon on its bonds maturing in 10 years, having received bids
close to 7.5 bln rupees.
* OBEROI REALTY: Reported Apr-Jun consolidated net profit at 1.1 bln rupees, up 32.9% on year and net sales at 3.2 bln rupees, up 51.4% on year.
* POWER FINANCE CORP: Has got approval of its shareholders to raise up to 550 bln rupees through the issuance of various debt instruments and to issue bonus shares, by capitalising the securities premium account, on a one-for-one basis.
* POWER GRID CORP OF INDIA: Has approved investment of around 7.3 bln rupees in various projects in the northern region of the country.
* RELIANCE INDUSTRIES: Chairman Mukesh Ambani met telecom Secretary J.S. Deepak and Telecom Regulatory Authority of India Chairman R.S. Sharma to update them on the telecom unit's operations amid a raging war with India's largest telecom companies.
* SHRIRAM TRANSPORT FINANCE CO: Has raised 1.50 bln rupees through issuance of bonds maturing in three years at 8.50% coupon.
* SINTEX INDUSTRIES: The 5-bln-rupee rights issue of the company will open on Aug 29 and close on Sep 14.
* STATE BANK OF INDIA: Is set to be among the top 50 banks globally, following the merger of five of its associate banks and Bharatiya Mahila Bank with itself.
* SUN TV NETWORK: Reported Apr-Jun net profit at 2.3 bln rupees, up 19.0% on year and total income from operations at 7.6 bln rupees, up 10.3% on year.
* THOMAS COOK INDIA: Has acquired balance 24% stake, via its subsidiary Thomas Cook Lanka, in Sita World Travel Lanka.
* UJJIVAN FINANCIAL SERVICES: Has applied to the Reserve Bank of India for final go-ahead for bank licence for its wholly-owned subsidiary, Ujjivan Small Finance Bank.
* UNITED BANK OF INDIA: The government will infuse 6.1 bln rupees in the bank soon by subscribing to its shares at 22.73 rupees. This is a part of the government's total allocation of 8.1 bln rupees for the lender.
* VEDANTA: Top executives of the company and CAIRN INDIA, said their interaction with minority shareholders on merger has been encouraging, almost a month after the natural resources conglomerate improved the terms of the proposed transaction.
* WELSPUN CORP: Promoter MGN Agro Properties acquired around 6.9 mln shares or 2.6% stake in the company by way of market purchase on Thursday. MGN Agro now holds 41.33% stake in the company.
* WELSPUN INDIA: Target Corp is ending all business ties with the company after saying the supplier was sending it fake Egyptian cotton sheets.
