STOCKS NEWS TODAY – 02.09.2016
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* ADANI POWER: Subsidiary Udupi Power Corp will produce an additional 1,600 MW of power at its thermal plant in Udupi by 2020.
* AEGIS LOGISTICS: Motilal Oswal Asset Management Co Ltd through its portfolio management services bought 4 mln shares, or 1.2% stake, in the company at 130 rupees per share, via a bulk deal on BSE.
* ATUL AUTO: Sold 3,915 units in August, up just 0.2% on year.
* BHARTI AIRTEL: Has received approval of Bangladesh High Court for merger of its Bangladesh
operations into Robi Axiata.
* COAL INDIA: Reported that it has produced 32.43 mln tn of coal in August as against a target of 40.89 mln and its production during the first five months of 2016-17 grew by only 1.3%.
* DENA BANK: Board has approved raising 11 bln rupees through the issuance of Basel III-complaint tier-II bonds.
* HERO MOTOCORP: Total August sales rise 28% on year at 616,424 units.
* HOUSING DEVELOPMENT FINANCE CORP: Has raised 5 bln rupees through the issuance of a second tranche of Masala bonds.
* INDIAN OIL CORP: Will be adding 24 mln tn of crude oil refining capacity through brownfield
expansions over the next five to six years.
* INFOSYS: Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, has
partnered with Huawei to offer a cloud-based financial solution.
* ITC: Is likely to swamp the fast-moving consumer goods sector this year with a record number of
product launches, venturing into new categories and deepening its presence in existing segments, said
Chief Operating Officer Sanjiv Puri.
* JINDAL STEEL & POWER: Along with some offshore creditors, Hong Kong-based SC Lowy--a specialist investment manager in distressed and stressed credit--has taken the harsh step of recalling $150 mln loan to the company after it failed to comply with certain loan covenants, said multiple sources aware of the development.
* LUPIN: Subsidiary Gavis Pharmaceuticals LLC has received a tentative approval from the US Food and Drug Administration for its generic version of Pfizer's antibiotic drug Zithromax.
* MAHINDRA & MAHINDRA: The aerospace unit plans to sell planes built by its Australian unit in India this year. The company may also consider manufacturing the planes in India if sales pick up.
* MPHASIS: Blackstone Group, has concluded its acquisition of a controlling 60.5% stake in IT services firm Mphasis from HewlettPackard Enterprise.
* NEW DELHI TELEVISION: OSWAL GREENTECH has sold 2.85 mln shares, or 4.42% stake, in the company to Eriska Investment Fund at 86 rupees per share, via a block deal on BSE.
* NTPC: Subsidiary Aravali Power Co has warned Anil Ambani-promoted electricity distribution utilities BSES Rajdhani and BSES Yamuna of cutting 445 MW of power supply from Sep 5 for non payment of dues.
* PATEL ENGINEERING: Its debt of 45.35 bln rupees would come down by as much as 55-60% following the Union Cabinet's approval to a mechanism that will release funds stuck in arbitration cases.
* PHOENIX MILLS: The promoters of Mumbai-based property developer Phoenix Mills are looking to sell 50% stake in two of the company's mixed use projects at Pune and Bengaluru, said a source in the know.
* RAMCO CEMENTS: Will approach the Competition Appellate Tribunal against the Competition
Commission of India's order to slap a penalty of 2.58 bln rupees on the company for cartelisation.
* RELIANCE INDUSTRIES: The official panel's report on the Reliance-ONGC gas dispute has left the government in a fix as it has not quantified the compensation to be paid for the gas that flowed into RIL's block, which can further delay the resolution of a key issue for which the committee was set up.
* SML ISUZU: August total sales 1,082 units as against 960 units a year ago.
* SREI INFRASTRUCTURE FINANCE: Plans to raise up to 10 bln rupees through the public issuance of non-convertible debentures. Announced a 50:50 joint venture between its wholly-owned subsdiary India Power Corp and Germany based utility Uniper.
* TATA MOTORS: Total sales in August were up 6% on year at 43,061 units. Domestic sales in the same period were at 36,466 units, up 3% on year.
* TRENT: The Reserve Bank of India today said foreign institutional investors and registered foreign
portfolios investors cannot buy shares of the company as the aggregate foreign holding has crossed the permissible limit of 24% of its paid-up capital.
* TVS MOTORS: Has posted a growth of 20.5% in sales during August, with total sales increasing to
274,303 units from 227,653 units recorded in the same month of last year.
* WELSPUN INDIA: Wasatch Emerging Markets Small Cap Fund bought 6.36 mln shares, or 0.63% stake, in the company at 50.89 rupees a piece, through a bulk deal on the National Stock Exchange.
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* ADANI POWER: Subsidiary Udupi Power Corp will produce an additional 1,600 MW of power at its thermal plant in Udupi by 2020.
* AEGIS LOGISTICS: Motilal Oswal Asset Management Co Ltd through its portfolio management services bought 4 mln shares, or 1.2% stake, in the company at 130 rupees per share, via a bulk deal on BSE.
* ATUL AUTO: Sold 3,915 units in August, up just 0.2% on year.
* BHARTI AIRTEL: Has received approval of Bangladesh High Court for merger of its Bangladesh
operations into Robi Axiata.
* COAL INDIA: Reported that it has produced 32.43 mln tn of coal in August as against a target of 40.89 mln and its production during the first five months of 2016-17 grew by only 1.3%.
* DENA BANK: Board has approved raising 11 bln rupees through the issuance of Basel III-complaint tier-II bonds.
* HERO MOTOCORP: Total August sales rise 28% on year at 616,424 units.
* HOUSING DEVELOPMENT FINANCE CORP: Has raised 5 bln rupees through the issuance of a second tranche of Masala bonds.
* INDIAN OIL CORP: Will be adding 24 mln tn of crude oil refining capacity through brownfield
expansions over the next five to six years.
* INFOSYS: Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, has
partnered with Huawei to offer a cloud-based financial solution.
* ITC: Is likely to swamp the fast-moving consumer goods sector this year with a record number of
product launches, venturing into new categories and deepening its presence in existing segments, said
Chief Operating Officer Sanjiv Puri.
* JINDAL STEEL & POWER: Along with some offshore creditors, Hong Kong-based SC Lowy--a specialist investment manager in distressed and stressed credit--has taken the harsh step of recalling $150 mln loan to the company after it failed to comply with certain loan covenants, said multiple sources aware of the development.
* LUPIN: Subsidiary Gavis Pharmaceuticals LLC has received a tentative approval from the US Food and Drug Administration for its generic version of Pfizer's antibiotic drug Zithromax.
* MAHINDRA & MAHINDRA: The aerospace unit plans to sell planes built by its Australian unit in India this year. The company may also consider manufacturing the planes in India if sales pick up.
* MPHASIS: Blackstone Group, has concluded its acquisition of a controlling 60.5% stake in IT services firm Mphasis from HewlettPackard Enterprise.
* NEW DELHI TELEVISION: OSWAL GREENTECH has sold 2.85 mln shares, or 4.42% stake, in the company to Eriska Investment Fund at 86 rupees per share, via a block deal on BSE.
* NTPC: Subsidiary Aravali Power Co has warned Anil Ambani-promoted electricity distribution utilities BSES Rajdhani and BSES Yamuna of cutting 445 MW of power supply from Sep 5 for non payment of dues.
* PATEL ENGINEERING: Its debt of 45.35 bln rupees would come down by as much as 55-60% following the Union Cabinet's approval to a mechanism that will release funds stuck in arbitration cases.
* PHOENIX MILLS: The promoters of Mumbai-based property developer Phoenix Mills are looking to sell 50% stake in two of the company's mixed use projects at Pune and Bengaluru, said a source in the know.
* RAMCO CEMENTS: Will approach the Competition Appellate Tribunal against the Competition
Commission of India's order to slap a penalty of 2.58 bln rupees on the company for cartelisation.
* RELIANCE INDUSTRIES: The official panel's report on the Reliance-ONGC gas dispute has left the government in a fix as it has not quantified the compensation to be paid for the gas that flowed into RIL's block, which can further delay the resolution of a key issue for which the committee was set up.
* SML ISUZU: August total sales 1,082 units as against 960 units a year ago.
* SREI INFRASTRUCTURE FINANCE: Plans to raise up to 10 bln rupees through the public issuance of non-convertible debentures. Announced a 50:50 joint venture between its wholly-owned subsdiary India Power Corp and Germany based utility Uniper.
* TATA MOTORS: Total sales in August were up 6% on year at 43,061 units. Domestic sales in the same period were at 36,466 units, up 3% on year.
* TRENT: The Reserve Bank of India today said foreign institutional investors and registered foreign
portfolios investors cannot buy shares of the company as the aggregate foreign holding has crossed the permissible limit of 24% of its paid-up capital.
* TVS MOTORS: Has posted a growth of 20.5% in sales during August, with total sales increasing to
274,303 units from 227,653 units recorded in the same month of last year.
* WELSPUN INDIA: Wasatch Emerging Markets Small Cap Fund bought 6.36 mln shares, or 0.63% stake, in the company at 50.89 rupees a piece, through a bulk deal on the National Stock Exchange.
