STOCKS NEWS TODAY - 15.09.2016
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* APOLLO TYRES: The company will adopt dual brand strategy in India in both passenger and
commercial vehicle segments by bringing in brands such as Vredestein for passenger vehicle and Regal for commercial vehicle segment.
* ASHOK LEYLAND: The board has approved the merger of Hinduja Foundries with the company.
Shareholders of HINDUJA FOUNDRIES will get 40 shares of ASHOK LEYLAND for every 100 shares held.
* BEML: Net loss widened to 1.07 bln rupees in Apr-Jun from 681.0 mln rupees a year ago. Net sales fell 49.8% on year to 2.92 bln rupees.
* CADILA HEALTHCARE: About 14,808 bottles of Bromocriptine Mesylate capsules manufactured at the company's Ahmedabad facility are being recalled by Zydus Pharmaceuticals USA
* EDELWEISS FINANCIAL: Is in talks to sell its agri-commodities business to Inditrade Capital.
* HEXAWARE TECHNOLOGIES: Has tied up with Oracle Insurance Policy Administration to strengthen the latter's digital operations.
* HINDALCO INDUSTRIES: Plans to sell its aluminium plant and mines in Brazil due to the sharp
correction in commodity prices, and use the proceeds to reduce debt.
* HOTEL LEELAVENTURE: Sovereign wealth funds and private equity funds are in race to acquire the company's properties in Delhi and Chennai and the combined deal value would be around 30 bln rupees.
* INDIAN OIL CORP: Plans to raise $300 mln in long-term debt by the end of December, replacing the bridge loan it had taken to purchase Rosneft's oil fields in Russia.
* INFOSYS: Has entered into an agreement with Italian power engineering company Ansaldo Energia to provide software solutions.
* ITC: Is looking to launch new products in the healthcare and wellness space, Chief Operating Officer Sanjiv Puri said.
* JAIN IRRIGATION SYSTEMS: College Retirement Equities Fund - Stock Account has sold 3.85 mln shares, or 0.84% stake, of the company at 92.68 rupees per share, via a bulk deal on the National Stock Exchange.
* L&T FINANCE HOLDINGS: Arm L&T Infrastructure Finance is planning to raise 1.50 bln rupees through the issuance of non-convertible debentures.
* MONSANTO INDIA: Parent Monsanto Holdings Pvt Ltd will be acquired by Germany's Bayer AG for $66 bln in an all-cash deal.
* NATIONAL ALUMINIUM CO: The government has asked the company to prepare a road map to
increase its aluminium production capacity to 2 mln tn per annum from around 300,000 tn currently.
* NTPC: Has got approval from the environment ministry for transporting imported coal to its Farakka Thermal Power plant in West Bengal through national waterways for another six months.
* OIL AND NATURAL GAS CORP: Arm ONGC Videsh has agreed to raise its stake in Russia's Vanok oil field by 11% to 26% for about $930 mln.
* RELIANCE COMMUNICATIONS: The company has entered into agreement with Aircel Ltd's promoter Maxis Communications Berhad to merge their India mobile operations and the deal is expected to conclude by 2017.
The company reported consolidated net profit of 540 mln rupees in Apr-Jun, up 5.9% on year, while net sales fell 3.8% to 52.47 bln rupees.
* SADBHAV INFRASTRUCTURE PROJECTS: Is looking to refinance three more of its operating road projects.
* SPICEJET: To offer a full refund to passengers if their flights to or from Bengaluru were cancelled due to the recent unrest in the city.
* STATE BANK OF INDIA: Has concluded the issue of $300 mln first tranche of its Basel III-compliant additional tier-I bonds.
* TATA CONSULTANCY SERVICES: Has implemented its core banking solution, TCS BaNCS, for Bank of Bhutan.
* TATA POWER: The company has completed the acquisition of Welspun Renewables Energy, which owns 1,141 MW of renewable power projects.
* YES BANK: Finding discrepancies in the bank's $1-bln qualified institutional placement issue, SEBI is looking into the investment bankers' role as well as the lender's notifications to the stock exchanges.
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commercial vehicle segments by bringing in brands such as Vredestein for passenger vehicle and Regal for commercial vehicle segment.
* ASHOK LEYLAND: The board has approved the merger of Hinduja Foundries with the company.
Shareholders of HINDUJA FOUNDRIES will get 40 shares of ASHOK LEYLAND for every 100 shares held.
* BEML: Net loss widened to 1.07 bln rupees in Apr-Jun from 681.0 mln rupees a year ago. Net sales fell 49.8% on year to 2.92 bln rupees.
* CADILA HEALTHCARE: About 14,808 bottles of Bromocriptine Mesylate capsules manufactured at the company's Ahmedabad facility are being recalled by Zydus Pharmaceuticals USA
* EDELWEISS FINANCIAL: Is in talks to sell its agri-commodities business to Inditrade Capital.
* HEXAWARE TECHNOLOGIES: Has tied up with Oracle Insurance Policy Administration to strengthen the latter's digital operations.
* HINDALCO INDUSTRIES: Plans to sell its aluminium plant and mines in Brazil due to the sharp
correction in commodity prices, and use the proceeds to reduce debt.
* HOTEL LEELAVENTURE: Sovereign wealth funds and private equity funds are in race to acquire the company's properties in Delhi and Chennai and the combined deal value would be around 30 bln rupees.
* INDIAN OIL CORP: Plans to raise $300 mln in long-term debt by the end of December, replacing the bridge loan it had taken to purchase Rosneft's oil fields in Russia.
* INFOSYS: Has entered into an agreement with Italian power engineering company Ansaldo Energia to provide software solutions.
* ITC: Is looking to launch new products in the healthcare and wellness space, Chief Operating Officer Sanjiv Puri said.
* JAIN IRRIGATION SYSTEMS: College Retirement Equities Fund - Stock Account has sold 3.85 mln shares, or 0.84% stake, of the company at 92.68 rupees per share, via a bulk deal on the National Stock Exchange.
* L&T FINANCE HOLDINGS: Arm L&T Infrastructure Finance is planning to raise 1.50 bln rupees through the issuance of non-convertible debentures.
* MONSANTO INDIA: Parent Monsanto Holdings Pvt Ltd will be acquired by Germany's Bayer AG for $66 bln in an all-cash deal.
* NATIONAL ALUMINIUM CO: The government has asked the company to prepare a road map to
increase its aluminium production capacity to 2 mln tn per annum from around 300,000 tn currently.
* NTPC: Has got approval from the environment ministry for transporting imported coal to its Farakka Thermal Power plant in West Bengal through national waterways for another six months.
* OIL AND NATURAL GAS CORP: Arm ONGC Videsh has agreed to raise its stake in Russia's Vanok oil field by 11% to 26% for about $930 mln.
* RELIANCE COMMUNICATIONS: The company has entered into agreement with Aircel Ltd's promoter Maxis Communications Berhad to merge their India mobile operations and the deal is expected to conclude by 2017.
The company reported consolidated net profit of 540 mln rupees in Apr-Jun, up 5.9% on year, while net sales fell 3.8% to 52.47 bln rupees.
* SADBHAV INFRASTRUCTURE PROJECTS: Is looking to refinance three more of its operating road projects.
* SPICEJET: To offer a full refund to passengers if their flights to or from Bengaluru were cancelled due to the recent unrest in the city.
* STATE BANK OF INDIA: Has concluded the issue of $300 mln first tranche of its Basel III-compliant additional tier-I bonds.
* TATA CONSULTANCY SERVICES: Has implemented its core banking solution, TCS BaNCS, for Bank of Bhutan.
* TATA POWER: The company has completed the acquisition of Welspun Renewables Energy, which owns 1,141 MW of renewable power projects.
* YES BANK: Finding discrepancies in the bank's $1-bln qualified institutional placement issue, SEBI is looking into the investment bankers' role as well as the lender's notifications to the stock exchanges.
