Daily Stock News Today – 14.09.2017
* BHARAT PETROLEUM CORP: Will invest 1.08 trln rupees over the next five years to expand operations across its business segments, Chairman and Managing Director D. Rajkumar said.
* BLUE STAR: Is "evaluating" plans to set up a factory in Jammu and will decide about it at next month's board meeting.
* COAL INDIA: The coal ministry has asked the company to augment supply of coal to thermal power plants and offer power plants coal on 'as is, where is' basis.
* DISH TV INDIA: Will launch 'Advanced DishTV interface', an artificial intelligence-enabled pay-tv Chatbot to address consumer grievances.
* GAMMON INFRASTRUCTURE PROJECTS: Promoter Gammon Power has sold 20 mln shares or 2.1% stake in the company at 3.15 rupees apiece, through a bulk deal on the National Stock Exchange, bourse data showed.
* HIMACHAL FUTURISTIC COMMUNICATIONS: Has successfully exited corporate debt restructuring scheme.
* HINDALCO INDUSTRIES: Will benefit from the government's thrust on infrastructure and power, given that these sectors are among the highest consumers of aluminium, Chairman Kumar Mangalam Birla said. The company plans to prepay another 11 bln rupees debt this month to further deleverage its balance sheet. Is looking at exporting the extra alumina that its unit Utkal Alumina International produces, as it seeks to spur growth, Birla said.
* IDFC: Birla Mutual Fund has sold 8.82 mln shares or 0.6% stake in the bank at 59.78 rupees apiece in a bulk deal on the National Stock Exchange.
* JET AIRWAYS INDIA: Said it continues to see pressure on yield and demand in Gulf nations and is unable to pass on the hike in fuel price to flyers.
- Is likely to participate in the second round of bidding for the regional air connectivity scheme of the
government.
* INTERGLOBE AVIATION: Has set the price band for its 33.58-mln-share institutional placement
programme at 1,125-1,175 rupees a share. IndiGo has termed not tenable a move to shift one-third operations of low-cost carriers to terminal 2 of the Delhi airport, thereby blocking operator GMR Group's plan to decongest terminal 1.
* JAYASWAL NECO INDUSTRIES: Received in-principal approval from its creditors under the joint lenders' forum mechanism for restructuring the company's debt.
* JUBILANT FOODWORKS: The company maintains stringent hygiene and quality standards for its
products and its vendors.
* LUPIN: Got final approval from the US Food and Drug Administration for Metronidazole tablets USP in 250 mg and 500 mg strengths. Has scaled down its new drug discovery and development unit in Pune and laidoff 52 employees, as it sharpens focus on developing speciality drugs.
* NESTLE INDIA: Has relaunched its chocolate brand Milkybar, reducing sugar content by 10% and
increasing milk content by 8%.
* PANACEA BIOTEC: Board has approved raising up to 2.5 bln rupees through qualified institutional placements and foreign currency convertible bonds, among others.
* PERSISTENT SYSTEMS: Has received an order from the Ohio department of commerce to design and build the e-licensing system for tracking industry licences required by Ohio Marijuana Control Programme.
* REDINGTON (INDIA): From Sep 22, the company will sell Apple Inc's recently launched iPhone 8 and iPhone 8 Plus at its 3,000 stores across the country.
* RELIANCE COMMUNICATIONS: Ericsson India had filed an insolvency petition against the telecom company before the National Company Law Tribunal to recover dues of 4.91 bln rupees.
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm beat its peers in July by adding 5.2 mln users to its network, to reach a total subscriber base of 128.6 mln as of Jul 31, data released by the Telecom Regulatory Authority of India showed. The Supreme Court has paved the way for trial against the company in a three-decade old case relating to alleged evasion of excise duty.
* RELIANCE INFRASTRUCTURE: Delhi Metro Rail Corp has moved the Delhi High Court challenging the arbitration award given by a three-member committee in favour of Delhi Airport Metro Express, an arm of the company.
* RELIGARE ENTERPRISES: Institutional investor India Horizon Fund, supported by IDBI Trusteeship, has moved the National Company Law Tribunal seeking ouster of the board on grounds of mismanagement and oppression of minority shareholders.
* STATE BANK OF INDIA: Will use the proceeds from its stake sale in joint venture SBI Life Insurance, through the latter's initial public offer, to shore up the bank's provisions, Chairman Arundhati Bhattacharya has said.
- Has set up a team of experts to deal with the resolution process of at least 32 defaulters and a few of them have already been referred to insolvency courts.
* TATA CHEMICALS: Is in advanced stages of discussion with Indorama Holdings BV to sell its phosphatic fertiliser business in Haldia, West Bengal.
* THERMAX: Has got an order worth $43 mln from a United Arab Emirates-based cement company for a turnkey captive power plant
* TITAN CO: Titan EyePlus, the optical retail chain from the company, plans to start manufacturing of frames from December this year.
* WIPRO: The company has tied up with open source community Hyperledger to develop blockchain
solutions for enterprise-grade blockchain deployment. Hyperledger platform develops blockchain technology for finance, banking, supply chain sector.
* WPIL: Has decided to shut down its UK-based subsidiary, Mathers Foundry, due to sustained uncertainty in the oil and gas sector, which brought its operations under "severe pressure".
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* BLUE STAR: Is "evaluating" plans to set up a factory in Jammu and will decide about it at next month's board meeting.
* COAL INDIA: The coal ministry has asked the company to augment supply of coal to thermal power plants and offer power plants coal on 'as is, where is' basis.
* DISH TV INDIA: Will launch 'Advanced DishTV interface', an artificial intelligence-enabled pay-tv Chatbot to address consumer grievances.
* GAMMON INFRASTRUCTURE PROJECTS: Promoter Gammon Power has sold 20 mln shares or 2.1% stake in the company at 3.15 rupees apiece, through a bulk deal on the National Stock Exchange, bourse data showed.
* HIMACHAL FUTURISTIC COMMUNICATIONS: Has successfully exited corporate debt restructuring scheme.
* HINDALCO INDUSTRIES: Will benefit from the government's thrust on infrastructure and power, given that these sectors are among the highest consumers of aluminium, Chairman Kumar Mangalam Birla said. The company plans to prepay another 11 bln rupees debt this month to further deleverage its balance sheet. Is looking at exporting the extra alumina that its unit Utkal Alumina International produces, as it seeks to spur growth, Birla said.
* IDFC: Birla Mutual Fund has sold 8.82 mln shares or 0.6% stake in the bank at 59.78 rupees apiece in a bulk deal on the National Stock Exchange.
* JET AIRWAYS INDIA: Said it continues to see pressure on yield and demand in Gulf nations and is unable to pass on the hike in fuel price to flyers.
- Is likely to participate in the second round of bidding for the regional air connectivity scheme of the
government.
* INTERGLOBE AVIATION: Has set the price band for its 33.58-mln-share institutional placement
programme at 1,125-1,175 rupees a share. IndiGo has termed not tenable a move to shift one-third operations of low-cost carriers to terminal 2 of the Delhi airport, thereby blocking operator GMR Group's plan to decongest terminal 1.
* JAYASWAL NECO INDUSTRIES: Received in-principal approval from its creditors under the joint lenders' forum mechanism for restructuring the company's debt.
* JUBILANT FOODWORKS: The company maintains stringent hygiene and quality standards for its
products and its vendors.
* LUPIN: Got final approval from the US Food and Drug Administration for Metronidazole tablets USP in 250 mg and 500 mg strengths. Has scaled down its new drug discovery and development unit in Pune and laidoff 52 employees, as it sharpens focus on developing speciality drugs.
* NESTLE INDIA: Has relaunched its chocolate brand Milkybar, reducing sugar content by 10% and
increasing milk content by 8%.
* PANACEA BIOTEC: Board has approved raising up to 2.5 bln rupees through qualified institutional placements and foreign currency convertible bonds, among others.
* PERSISTENT SYSTEMS: Has received an order from the Ohio department of commerce to design and build the e-licensing system for tracking industry licences required by Ohio Marijuana Control Programme.
* REDINGTON (INDIA): From Sep 22, the company will sell Apple Inc's recently launched iPhone 8 and iPhone 8 Plus at its 3,000 stores across the country.
* RELIANCE COMMUNICATIONS: Ericsson India had filed an insolvency petition against the telecom company before the National Company Law Tribunal to recover dues of 4.91 bln rupees.
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm beat its peers in July by adding 5.2 mln users to its network, to reach a total subscriber base of 128.6 mln as of Jul 31, data released by the Telecom Regulatory Authority of India showed. The Supreme Court has paved the way for trial against the company in a three-decade old case relating to alleged evasion of excise duty.
* RELIANCE INFRASTRUCTURE: Delhi Metro Rail Corp has moved the Delhi High Court challenging the arbitration award given by a three-member committee in favour of Delhi Airport Metro Express, an arm of the company.
* RELIGARE ENTERPRISES: Institutional investor India Horizon Fund, supported by IDBI Trusteeship, has moved the National Company Law Tribunal seeking ouster of the board on grounds of mismanagement and oppression of minority shareholders.
* STATE BANK OF INDIA: Will use the proceeds from its stake sale in joint venture SBI Life Insurance, through the latter's initial public offer, to shore up the bank's provisions, Chairman Arundhati Bhattacharya has said.
- Has set up a team of experts to deal with the resolution process of at least 32 defaulters and a few of them have already been referred to insolvency courts.
* TATA CHEMICALS: Is in advanced stages of discussion with Indorama Holdings BV to sell its phosphatic fertiliser business in Haldia, West Bengal.
* THERMAX: Has got an order worth $43 mln from a United Arab Emirates-based cement company for a turnkey captive power plant
* TITAN CO: Titan EyePlus, the optical retail chain from the company, plans to start manufacturing of frames from December this year.
* WIPRO: The company has tied up with open source community Hyperledger to develop blockchain
solutions for enterprise-grade blockchain deployment. Hyperledger platform develops blockchain technology for finance, banking, supply chain sector.
* WPIL: Has decided to shut down its UK-based subsidiary, Mathers Foundry, due to sustained uncertainty in the oil and gas sector, which brought its operations under "severe pressure".
