Daily Stock News Today – 15.09.2017
* BAJAJ FINANCE: Has allotted over 26 mln shares to qualified institutional buyers, fetching over 50.44 bln rupees.
* BHARATI DEFENCE AND INFRASTRUCTURE: German Dry Docks Group has approached the lenders of the company for a possible acquisition, pegging its enterprise value at around $370 mln.
* COAL INDIA: Is looking to diversify from its core business of coal extraction and become a full-fledged mining company.
* CORPORATION BANK: Will cut marginal cost of funds-based lending rates by up to 10 basis points with effect from today.
* EICHER MOTORS: VE Commercials Vehicles, an Indian joint venture of the company and Volvo Group, will cost effectively develop and deliver high-end trucks and buses based on the 3DEXPERIENCE platform.
* GAMMON INFRASTRUCTURE PROJECTS: Promoter Gammon Power sold 10 mln shares, or 1.1% stake in the company, at 3.15 rupees per share, through a bulk deal on the National Stock Exchange.
* GE POWER INDIA: GE Power has been selected by the Shapoorji Pallonji Group to supply the power generation equipment for the upcoming 220 MW combined cycle power plant in Bangladesh.
* HINDUJA VENTURES: A promoter of Hinduja Leyland Finance has approved an investment of 79.4 mln rupees in the latter by purchasing 789,784 shares of 10 rupees each on a rights basis at 100 rupees apiece.
* IDEA CELLULAR: American Tower Corp, Brookfield Asset Management and IDFC Alternatives are front runners for the independent tower assets of Vodafone India and the company in a combined transaction.
* IDBI BANK: Sold 1.25 mln shares of 2.5% stake in Clearing Corp of India on Wednesday, the lender said.
* INTERGLOBE AVIATION: May adopt a two-class configuration in its long-haul routes.
* JENBURKT PHARMACEUTICAL: Promoters and promoter groups will not participate in the share buyback by the company.
* MAHINDRA & MAHINDRA: Has raised the prices of its sport utility vehicles by up to 3.7% with immediate effect after the decision of the goods and services tax council to hike compensation cess.
* MARUTI SUZUKI: Suzuki Motor Corp will set up a plant at Hansalpur, Gujarat, to produce batteries for electric and hybrid cars by 2020, under a joint venture with Toshiba and Denso, according to various news reports.
* MAX FINANCIAL SERVICES: Goldman Sachs will sell shares worth up to $110 mln in the company.
* MOSER BAER INDIA: Arm Moser Baer Solar has requested CENTRAL BANK OF INDIA to defer its loan repayment schedule and allow the company to run on a 'going concern' basis.
* PANACEA BIOTEC: Will demerge its real estate business, Radhika Heights, along with its subsidiaries and two properties--DCM Building and Jonapur property--into a new entity.
* RELIANCE COMMUNICATIONS: Is shifting its subscribers to 4G in Gujarat circle as its 2G spectrum is set to expire at the end of this month.
* SPICEJET: Has deposited 2.5 bln rupees with the registrar general of the Delhi High Court in compliance with a apex court order related to a share-transfer dispute.
* TATA STEEL: Has said a final decision on merging its European business with German major thyssenkrupp is yet to be taken as "strategic discussions" are still on.
* UJAAS ENERGY: Has got a letter of allocation from Solar Energy Corp of India for an aggregate capacity of 20.03 MW for implementation of grid-connected rooftop solar photovoltaic system scheme for government building in various states and Union territories. The company has got an order in Assam for a 500-KW solar energy generation project at the pump station of Oil India on engineering, procurement and construction basis.
* VEDANTA: The State Pollution Control Board of Odisha has asked the company to shut some of its power units in Jharsuguda after a wall of one of the company's ash ponds collapsed, resulting in ash slurry flowing into paddy fields.
* WIPRO: Has launched automation services based on Wipro Holmes, an artificial intelligence platform for systems, applications and products software. Has reiterated its commitment to open source by joining hands with the Linux Foundation.
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* BHARATI DEFENCE AND INFRASTRUCTURE: German Dry Docks Group has approached the lenders of the company for a possible acquisition, pegging its enterprise value at around $370 mln.
* COAL INDIA: Is looking to diversify from its core business of coal extraction and become a full-fledged mining company.
* CORPORATION BANK: Will cut marginal cost of funds-based lending rates by up to 10 basis points with effect from today.
* EICHER MOTORS: VE Commercials Vehicles, an Indian joint venture of the company and Volvo Group, will cost effectively develop and deliver high-end trucks and buses based on the 3DEXPERIENCE platform.
* GAMMON INFRASTRUCTURE PROJECTS: Promoter Gammon Power sold 10 mln shares, or 1.1% stake in the company, at 3.15 rupees per share, through a bulk deal on the National Stock Exchange.
* GE POWER INDIA: GE Power has been selected by the Shapoorji Pallonji Group to supply the power generation equipment for the upcoming 220 MW combined cycle power plant in Bangladesh.
* HINDUJA VENTURES: A promoter of Hinduja Leyland Finance has approved an investment of 79.4 mln rupees in the latter by purchasing 789,784 shares of 10 rupees each on a rights basis at 100 rupees apiece.
* IDEA CELLULAR: American Tower Corp, Brookfield Asset Management and IDFC Alternatives are front runners for the independent tower assets of Vodafone India and the company in a combined transaction.
* IDBI BANK: Sold 1.25 mln shares of 2.5% stake in Clearing Corp of India on Wednesday, the lender said.
* INTERGLOBE AVIATION: May adopt a two-class configuration in its long-haul routes.
* JENBURKT PHARMACEUTICAL: Promoters and promoter groups will not participate in the share buyback by the company.
* MAHINDRA & MAHINDRA: Has raised the prices of its sport utility vehicles by up to 3.7% with immediate effect after the decision of the goods and services tax council to hike compensation cess.
* MARUTI SUZUKI: Suzuki Motor Corp will set up a plant at Hansalpur, Gujarat, to produce batteries for electric and hybrid cars by 2020, under a joint venture with Toshiba and Denso, according to various news reports.
* MAX FINANCIAL SERVICES: Goldman Sachs will sell shares worth up to $110 mln in the company.
* MOSER BAER INDIA: Arm Moser Baer Solar has requested CENTRAL BANK OF INDIA to defer its loan repayment schedule and allow the company to run on a 'going concern' basis.
* PANACEA BIOTEC: Will demerge its real estate business, Radhika Heights, along with its subsidiaries and two properties--DCM Building and Jonapur property--into a new entity.
* RELIANCE COMMUNICATIONS: Is shifting its subscribers to 4G in Gujarat circle as its 2G spectrum is set to expire at the end of this month.
* SPICEJET: Has deposited 2.5 bln rupees with the registrar general of the Delhi High Court in compliance with a apex court order related to a share-transfer dispute.
* TATA STEEL: Has said a final decision on merging its European business with German major thyssenkrupp is yet to be taken as "strategic discussions" are still on.
* UJAAS ENERGY: Has got a letter of allocation from Solar Energy Corp of India for an aggregate capacity of 20.03 MW for implementation of grid-connected rooftop solar photovoltaic system scheme for government building in various states and Union territories. The company has got an order in Assam for a 500-KW solar energy generation project at the pump station of Oil India on engineering, procurement and construction basis.
* VEDANTA: The State Pollution Control Board of Odisha has asked the company to shut some of its power units in Jharsuguda after a wall of one of the company's ash ponds collapsed, resulting in ash slurry flowing into paddy fields.
* WIPRO: Has launched automation services based on Wipro Holmes, an artificial intelligence platform for systems, applications and products software. Has reiterated its commitment to open source by joining hands with the Linux Foundation.
