Daily Stock News Today – 04.09.2017
* ADANI ENTERPRISES: Adani Group formally announced partnership with Swedish defence firm Saab AB for development of defence aircraft and other high-tech products, with initial focus on contracts from the Indian Air Force.
- Appears to be at odds with the state of Queensland over royalties for its Carmichael coal project.
* ADITYA BIRLA CAPITAL: Aditya Birla Group had applied for a licence for an asset reconstruction company in April, given the high availability and expectation of more distressed assets arising in the market.
* AMARA RAJA BATTERIES: Has launched Amaron Brute battery targeted at the logistics industry.
* BAJAJ AUTO: Plans to launch a new version of its entry level motorcycle Platina and an upgraded version of Bajaj V motorcycle in September to aid sales growth.
* BOSCH: As part of its drive towards electro-mobility in the Indian market, the company plans to start producing the first series of its end-to-end solutions for electric vehicles after 2018.
* CENTURY PLYBOARDS INDIA: Has entered into a tie-up with a Chinese company, Goldea, to make doors and frames.
* COAL INDIA: Ministry of Coal has given Central Coalfields Chairman and Managing Director Gopal Singh the additional charge as CMD of the company, until a regular appointment is made. Production rose 2.7% on year to 37.63 mln tn in August, above the monthly target of 36.96 mln tn.
- Offtake or despatches in August fell 1.3% on year to 43.75 mln tn but was higher than the target of 43.09 mln tn. India is not facing any scarcity of coal and output of the company is more than the country's power demand, Interim CMD Gopal Singh said.
- Efforts to buy overseas coking coal mines by the company in Australia are in process as it looks to supplement India's requirement of metallurgical coal.
* EICHER MOTORS: Total commercial vehicle sales were at 4,571 units in August as against 4,191 units a year ago.
* GLAXOSMITHKLINE PHARMACEUTICALS: Is scouting for acquisitions in the domestic market for the first time since it started operations in the country 93 years ago.
* GREAT EASTERN SHIPPING CO: Has signed a contract to buy a second-hand medium gas carrier of about 35,420 cubic mtr.
* GTPL HATHWAY: Has bagged a five-year contract worth 192.8 mln rupees to supply, install, commission, and maintain internet bandwidth for various offices of the home department of Gujarat government.
* HERO MOTOCORP: Total sales of two-wheelers in August rose 10% on year to 678,797 units.
* HINDALCO INDUSTRIES: Aditya Birla Group has earmarked at least $3 bln for acquisitions in the company.
* HINDUSTAN COPPER: Santosh Sharma has joined as chairman and managing director of the company.
* ICICI BANK: ICICI Prudential Asset Management Co, the joint venture of the bank and UK's Prudential Plc, is looking to set up a real estate investment platform with a corpus of almost $400 mln.
* IDEA CELLULAR: Vodafone India has begun an exercise to extend its outsourcing contract with IBM to cover the company as well ahead of the proposed merger.
* INFOSYS: Promoters, including co-founders N.R. Narayana Murthy and Nandan Nilekani, have offered to sell as many as 17.7 mln shares--worth up to 20.38 bln rupees--in the company's 130-bln-rupee buyback offer.
* INTELLECT DESIGN ARENA: A consortium led by the company has been contracted as managed service provider by the Ministry of Commerce and Industry, for a government-to-business e-commerce portal.
* JM FINANCIAL: Has been appointed as the transaction advisor to the government's stake sale in HINDUSTAN PETROLEUM CORP to OIL & NATURAL GAS CORP.
* JSW STEEL: The 268-bln-rupee capital expenditure plan is on track and the company plans to spend 80 bln rupees this year, Joint Managing Director Seshagiri Rao said.
* LARSEN & TOUBRO: Arm L&T Infrastructure Development Projects has submitted the application for registration as an infrastructure investment trust to SEBI on Sep 1.
* MAHINDRA AND MAHINDRA FINANCIAL SERVICES: Is preparing to raise as much as 20 bln rupees equity capital.
* MANAPPURAM FINANCE: The company reiterated that Managing Director and Chief Executive Officer V.P. Nandakumar is not looking to sell his promoter's stake in the company.
* MOIL: To cater to the steel industry's growing appetite for manganese ore, the company has decided to raise its production to 3 mln tn by 2030.
* PUNJAB & SIND BANK: Will reduce the interest rate on savings account deposits of up to 2 mln rupees by 50 basis points to 3.5%, with effect from today.
* RATTANINDIA POWER: The Company’s lenders for the Amravati project have proposed a corrective action plan under the Scheme for Sustainable Structuring of Stressed Assets.
* RELIANCE INDUSTRIES: Around 6 mln units of Reliance Jio's 'effectively free' 4G handset, the Jio Phone, were booked within three days of its pre-booking hat started Aug 24.
* SOUTH INDIAN BANK: Has detected a fraud of 320 mln rupees in an internal investigation at one of its branches and has recovered 37.8 mln rupees so far.
* STATE BANK OF INDIA: Plans to raise up to $3 bln in the country's biggest overseas green-bond issue.
* STEEL STRIPS WHEELS: Total wheel rim sales in August fell 4% on year to 1.24 mln units.
* SYNDICATE BANK: Has ordered the withdrawal of its "no work, no pay" notice.
* TVS MOTOR CO: The Company said its total sales for August rose 16% on year to 317,563 units.
* UFO MOVIEZ INDIA: Has entered into a pact to acquire 76% stake in Sujav Entertainment at 7.5 mln rupees
* UPL: Through its step-down wholly-owned subsidiary, the company has purchased 33.33% stake in Brazil-based Serra Bonita Semetes S.A from SinAgro Produtos Agropecuarios.
* VEDANTA: Stressed steel assets currently facing insolvency proceedings under the Insolvency and Bankruptcy Code, 2016, have now courted interest from the company.
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- Appears to be at odds with the state of Queensland over royalties for its Carmichael coal project.
* ADITYA BIRLA CAPITAL: Aditya Birla Group had applied for a licence for an asset reconstruction company in April, given the high availability and expectation of more distressed assets arising in the market.
* AMARA RAJA BATTERIES: Has launched Amaron Brute battery targeted at the logistics industry.
* BAJAJ AUTO: Plans to launch a new version of its entry level motorcycle Platina and an upgraded version of Bajaj V motorcycle in September to aid sales growth.
* BOSCH: As part of its drive towards electro-mobility in the Indian market, the company plans to start producing the first series of its end-to-end solutions for electric vehicles after 2018.
* CENTURY PLYBOARDS INDIA: Has entered into a tie-up with a Chinese company, Goldea, to make doors and frames.
* COAL INDIA: Ministry of Coal has given Central Coalfields Chairman and Managing Director Gopal Singh the additional charge as CMD of the company, until a regular appointment is made. Production rose 2.7% on year to 37.63 mln tn in August, above the monthly target of 36.96 mln tn.
- Offtake or despatches in August fell 1.3% on year to 43.75 mln tn but was higher than the target of 43.09 mln tn. India is not facing any scarcity of coal and output of the company is more than the country's power demand, Interim CMD Gopal Singh said.
- Efforts to buy overseas coking coal mines by the company in Australia are in process as it looks to supplement India's requirement of metallurgical coal.
* EICHER MOTORS: Total commercial vehicle sales were at 4,571 units in August as against 4,191 units a year ago.
* GLAXOSMITHKLINE PHARMACEUTICALS: Is scouting for acquisitions in the domestic market for the first time since it started operations in the country 93 years ago.
* GREAT EASTERN SHIPPING CO: Has signed a contract to buy a second-hand medium gas carrier of about 35,420 cubic mtr.
* GTPL HATHWAY: Has bagged a five-year contract worth 192.8 mln rupees to supply, install, commission, and maintain internet bandwidth for various offices of the home department of Gujarat government.
* HERO MOTOCORP: Total sales of two-wheelers in August rose 10% on year to 678,797 units.
* HINDALCO INDUSTRIES: Aditya Birla Group has earmarked at least $3 bln for acquisitions in the company.
* HINDUSTAN COPPER: Santosh Sharma has joined as chairman and managing director of the company.
* ICICI BANK: ICICI Prudential Asset Management Co, the joint venture of the bank and UK's Prudential Plc, is looking to set up a real estate investment platform with a corpus of almost $400 mln.
* IDEA CELLULAR: Vodafone India has begun an exercise to extend its outsourcing contract with IBM to cover the company as well ahead of the proposed merger.
* INFOSYS: Promoters, including co-founders N.R. Narayana Murthy and Nandan Nilekani, have offered to sell as many as 17.7 mln shares--worth up to 20.38 bln rupees--in the company's 130-bln-rupee buyback offer.
* INTELLECT DESIGN ARENA: A consortium led by the company has been contracted as managed service provider by the Ministry of Commerce and Industry, for a government-to-business e-commerce portal.
* JM FINANCIAL: Has been appointed as the transaction advisor to the government's stake sale in HINDUSTAN PETROLEUM CORP to OIL & NATURAL GAS CORP.
* JSW STEEL: The 268-bln-rupee capital expenditure plan is on track and the company plans to spend 80 bln rupees this year, Joint Managing Director Seshagiri Rao said.
* LARSEN & TOUBRO: Arm L&T Infrastructure Development Projects has submitted the application for registration as an infrastructure investment trust to SEBI on Sep 1.
* MAHINDRA AND MAHINDRA FINANCIAL SERVICES: Is preparing to raise as much as 20 bln rupees equity capital.
* MANAPPURAM FINANCE: The company reiterated that Managing Director and Chief Executive Officer V.P. Nandakumar is not looking to sell his promoter's stake in the company.
* MOIL: To cater to the steel industry's growing appetite for manganese ore, the company has decided to raise its production to 3 mln tn by 2030.
* PUNJAB & SIND BANK: Will reduce the interest rate on savings account deposits of up to 2 mln rupees by 50 basis points to 3.5%, with effect from today.
* RATTANINDIA POWER: The Company’s lenders for the Amravati project have proposed a corrective action plan under the Scheme for Sustainable Structuring of Stressed Assets.
* RELIANCE INDUSTRIES: Around 6 mln units of Reliance Jio's 'effectively free' 4G handset, the Jio Phone, were booked within three days of its pre-booking hat started Aug 24.
* SOUTH INDIAN BANK: Has detected a fraud of 320 mln rupees in an internal investigation at one of its branches and has recovered 37.8 mln rupees so far.
* STATE BANK OF INDIA: Plans to raise up to $3 bln in the country's biggest overseas green-bond issue.
* STEEL STRIPS WHEELS: Total wheel rim sales in August fell 4% on year to 1.24 mln units.
* SYNDICATE BANK: Has ordered the withdrawal of its "no work, no pay" notice.
* TVS MOTOR CO: The Company said its total sales for August rose 16% on year to 317,563 units.
* UFO MOVIEZ INDIA: Has entered into a pact to acquire 76% stake in Sujav Entertainment at 7.5 mln rupees
* UPL: Through its step-down wholly-owned subsidiary, the company has purchased 33.33% stake in Brazil-based Serra Bonita Semetes S.A from SinAgro Produtos Agropecuarios.
* VEDANTA: Stressed steel assets currently facing insolvency proceedings under the Insolvency and Bankruptcy Code, 2016, have now courted interest from the company.
