Daily Stock News Today – 13.09.2017
* BHARAT PETROLEUM CORP: Is in advanced talks with Bangladesh to set up a 1 mln tn product pipeline to the country, and is toying with the idea to set up another pipeline to Myanmar.
* BHARTI AIRTEL: Has alleged that Reliance Jio is running a "sinister campaign" to bring down the call connection charges by misleading authorities and the public with inflated figures.
* CAPITAL FIRST: The Reserve Bank of India has notified that foreign portfolio investors can invest up to 50% of the paid-up capital in the company under the portfolio investment scheme, against 24% earlier.
* DR REDDY'S LABORATORIES: Aurigene Discovery Technologies, a wholly-owned subsidiary of the company, has announced its plans to start Phase-II trial of cancer drug CA-170 in India.
* FORTIS HEALTHCARE: Institutional Investor Advisory Services has recommended investors to vote against the company's plan to raise up to 50 bln rupees through securities as the fresh issue will lead to a large dilution of shareholding in the company.
* GAMMON INDIA: Has been granted an extension of three months up to Dec 30, for holding its annual general meeting, by the registrar of companies.
* GMR INFRASTRUCTURE: Expects the company's airports business to drive growth going forward as it explores more development opportunities globally.
* GULF OIL LUBRICANTS INDIA: IAM Ltd has sold off its entire stake of 691,874 shares in the company at 777 rupees apiece in a block deal on the BSE, data on the exchange showed.
* ICICI BANK: The bank's committee of executive directors has approved raising funds through Basel IIIcompliant additional tier-I bonds.
* INDIAN HUME PIPE CO: Has stopped manufacturing air rifles and air pistols at its National Rifle Division at Vatva in Ahmedabad since Jul 14.
* INDIAN BANK: Will appoint a merchant banker to dilute stake as per SEBI norms.
* INFOSYS: Has hired 1,200 of the 10,000 local employees in the US that it plans to hire in the country in over two years. The company also plans to hire another 2,000 US nationals for its technology and innovation hub in Raleigh, North Carolina, by 2021.
* JET AIRWAYS INDIA: Reported Apr-Jun net profit of 535 mln rupees, up over two-fold on year. Revenue from operations was at 56.5 bln rupees, up 9.9% on year.
* LANCO INFRATECH: Has clarified that the news item appearing on "www.economictimes.com",
captioned "Lanco Group set to exit realty to focus on infrastructure business", is speculative and the company has not issued any communication in this regard.
* LUPIN: Will file its first biosimilar Etanercept in Europe and Japan in FY18, and has tied up with a
financial company to fund the research and development of the drug.
* NTPC: Coal stocks in the company's 13 power plants are at critical level despite COAL INDIA monitoring production, despatch, and evacuation on a day-to-day basis to rush supply to the plants.
- Expects to conclude the acquisition of Chhabra thermal power plant from the Rajasthan government within two months for a "regulated depreciated book value" of 40 bln rupees.
* PHOENIX MILLS: Is buying back stake from various investors in four of its mall projects for around 13.50 bln rupees, making it the sole owner of the assets.
* RAIN INDUSTRIES: Domestic and foreign investors are increasingly siding with PHILLIPS CARBON BLACK at the expense of the company, as they bet on the former to outperform its peer in the current financial year started April.
* RELIGARE ENTERPRISES: Has won shareholder approval for its plan to use the proceeds of the sale of its health insurance business to repay AXIS BANK's $70 mln loan.
* S H KELKAR AND CO: Will acquire V.N. Creative Chemicals to have control over the latter's land and manufacturing facility.
* STATE BANK OF INDIA: Plans to launch a website-cum-app that will offer a range of goods, services and payment options on a single platform.
* TATA CONSULTANCY SERVICES: Has flagged off risk from the US' banking and financial services sector, saying it did not expect the "visibility" to improve in the near term, Hong Kong-based CLSA Asia Pacific Markets said in a note.
* TATA MOTORS: Wholesale sales, including those of subsidiary Jaguar Land Rover, rose 9% on year globally to 94,210 units in August. The company has launched a limited edition version of its hatchback Tiago, with prices starting at 452,000 rupees, ex-showroom Delhi.
* V2 RETAIL: Board has approved the issue of 2 mln shares on a preferential basis to a non-promoter entity.
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* BHARTI AIRTEL: Has alleged that Reliance Jio is running a "sinister campaign" to bring down the call connection charges by misleading authorities and the public with inflated figures.
* CAPITAL FIRST: The Reserve Bank of India has notified that foreign portfolio investors can invest up to 50% of the paid-up capital in the company under the portfolio investment scheme, against 24% earlier.
* DR REDDY'S LABORATORIES: Aurigene Discovery Technologies, a wholly-owned subsidiary of the company, has announced its plans to start Phase-II trial of cancer drug CA-170 in India.
* FORTIS HEALTHCARE: Institutional Investor Advisory Services has recommended investors to vote against the company's plan to raise up to 50 bln rupees through securities as the fresh issue will lead to a large dilution of shareholding in the company.
* GAMMON INDIA: Has been granted an extension of three months up to Dec 30, for holding its annual general meeting, by the registrar of companies.
* GMR INFRASTRUCTURE: Expects the company's airports business to drive growth going forward as it explores more development opportunities globally.
* GULF OIL LUBRICANTS INDIA: IAM Ltd has sold off its entire stake of 691,874 shares in the company at 777 rupees apiece in a block deal on the BSE, data on the exchange showed.
* ICICI BANK: The bank's committee of executive directors has approved raising funds through Basel IIIcompliant additional tier-I bonds.
* INDIAN HUME PIPE CO: Has stopped manufacturing air rifles and air pistols at its National Rifle Division at Vatva in Ahmedabad since Jul 14.
* INDIAN BANK: Will appoint a merchant banker to dilute stake as per SEBI norms.
* INFOSYS: Has hired 1,200 of the 10,000 local employees in the US that it plans to hire in the country in over two years. The company also plans to hire another 2,000 US nationals for its technology and innovation hub in Raleigh, North Carolina, by 2021.
* JET AIRWAYS INDIA: Reported Apr-Jun net profit of 535 mln rupees, up over two-fold on year. Revenue from operations was at 56.5 bln rupees, up 9.9% on year.
* LANCO INFRATECH: Has clarified that the news item appearing on "www.economictimes.com",
captioned "Lanco Group set to exit realty to focus on infrastructure business", is speculative and the company has not issued any communication in this regard.
* LUPIN: Will file its first biosimilar Etanercept in Europe and Japan in FY18, and has tied up with a
financial company to fund the research and development of the drug.
* NTPC: Coal stocks in the company's 13 power plants are at critical level despite COAL INDIA monitoring production, despatch, and evacuation on a day-to-day basis to rush supply to the plants.
- Expects to conclude the acquisition of Chhabra thermal power plant from the Rajasthan government within two months for a "regulated depreciated book value" of 40 bln rupees.
* PHOENIX MILLS: Is buying back stake from various investors in four of its mall projects for around 13.50 bln rupees, making it the sole owner of the assets.
* RAIN INDUSTRIES: Domestic and foreign investors are increasingly siding with PHILLIPS CARBON BLACK at the expense of the company, as they bet on the former to outperform its peer in the current financial year started April.
* RELIGARE ENTERPRISES: Has won shareholder approval for its plan to use the proceeds of the sale of its health insurance business to repay AXIS BANK's $70 mln loan.
* S H KELKAR AND CO: Will acquire V.N. Creative Chemicals to have control over the latter's land and manufacturing facility.
* STATE BANK OF INDIA: Plans to launch a website-cum-app that will offer a range of goods, services and payment options on a single platform.
* TATA CONSULTANCY SERVICES: Has flagged off risk from the US' banking and financial services sector, saying it did not expect the "visibility" to improve in the near term, Hong Kong-based CLSA Asia Pacific Markets said in a note.
* TATA MOTORS: Wholesale sales, including those of subsidiary Jaguar Land Rover, rose 9% on year globally to 94,210 units in August. The company has launched a limited edition version of its hatchback Tiago, with prices starting at 452,000 rupees, ex-showroom Delhi.
* V2 RETAIL: Board has approved the issue of 2 mln shares on a preferential basis to a non-promoter entity.
