Daily Stock News Today – 06.10.2017
* BANK OF BARODA: Will cut its marginal cost of fund-based lending rates across all tenures by 5 basis points, effective Saturday.
* BHARTI AIRTEL: Has topped OpenSignal's 3G and 4G speed charts, although Reliance Jio is still ahead in terms of 4G availability.
* CYIENT: Amansa Holdings has acquired 3.08 mln shares or 2.74% stake in the company.
* FUTURE RETAIL: Board has approved the acquisition of HyperCity Retail, a subsidiary of SHOPPERS STOP, for 6.55 bln rupees.
* GTL INFRASTRUCTURE: Board will meet Friday to consider allotment of shares consequent to notices received for conversion of series-B bonds aggregating $16.25 mln at a conversion price of 10 rupees a share.
* HAVELLS INDIA: Will soon stop manufacturing and selling compact fluorescent lamp products as it wants to focus on light-emitting diode lights.
* IDFC: Citing "extensive due diligence process involved", IDFC Group and Shriram Group have agreed to extend their "confidentiality, exclusivity and standstill agreement" for a proposed merger by a month to Nov 8.
* IFCI: At its annual general meeting on Oct 30, board will seek approval of shareholders to raise up to 50 bln rupees through various securities such as bonds and non-convertible debentures, among others.
* KAJARIA CERAMICS: To set up a new state-of-the-art manufacturing plant at Tirupati at an investment of 1.25 bln rupees.
* KEC INTERNATIONAL: Has merged its wholly-owned step-down subsidiaries, which were
incorporated as a special purpose vehicle at Delaware in USA, with another wholly-owned step-down
subsidiary SAE Towers Holdings LLC, effective from Sep 29.
* MAHINDRA & MAHINDRA: Total vehicle production in September was up 6.2% at 47,413 units,
against 44,660 units in the year-ago period.
* MAJESTIC AUTO: Has shut down its fine blanking division, which was a part of its manufacturing unit at the Greater Noida facility.
* MUTHOOT FINANCE: Baring Private Equity Partners India has scored its third exit over the course of the last three weeks, after the private equity firm completely exited its seven-year investment in the company.
* NLC INDIA: Has clarified the contract workers employed at the firm are paid in excess over the central government's mandated minimum wage.
* OIL AND NATURAL GAS CORP: In what the company is terming the "first direct evidence" of
hydrocarbon reserves in the Kutch offshore basin, the state-run firm has come across flows while
drilling the GK-28-12 well.
* PATEL ENGINEERING: Has approved raising up to 15.4 bln rupees through optionally convertible
debentures and shares.
* PHOENIX MILLS: Subsidiary Island Star Mall Developers along with Canada Pension Plan Investment Board has acquired 1.8 acres in Pune for 212.5 mln rupees on Wednesday.
* RELIANCE COMMUNICATIONS: Tower companies have started taking action against the company for pending rentals, with most reneging on service level Agreements.
* RELIANCE INDUSTRIES: Has tied up with VF Corp to manufacture moisture control products for the latter's Wrangler brand to be sold in the Asian market.
* TATA STEEL: Has sold 3.13 mln tn of steel in India in the quarter ended September, up more than
19% from the corresponding quarter last year and 14% higher sequentially.
* TECH MAHINDRA: Has hired more than 100 local, full-time employees at its Alpharetta office in
Atlanta, US.
* VAKRANGEE: Has tied up with INDUSIND BANK for the Bharat Bill Payment System platform to deliver a wide range of bill payment services from Vakrangee Kendra outlets.
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* BHARTI AIRTEL: Has topped OpenSignal's 3G and 4G speed charts, although Reliance Jio is still ahead in terms of 4G availability.
* CYIENT: Amansa Holdings has acquired 3.08 mln shares or 2.74% stake in the company.
* FUTURE RETAIL: Board has approved the acquisition of HyperCity Retail, a subsidiary of SHOPPERS STOP, for 6.55 bln rupees.
* GTL INFRASTRUCTURE: Board will meet Friday to consider allotment of shares consequent to notices received for conversion of series-B bonds aggregating $16.25 mln at a conversion price of 10 rupees a share.
* HAVELLS INDIA: Will soon stop manufacturing and selling compact fluorescent lamp products as it wants to focus on light-emitting diode lights.
* IDFC: Citing "extensive due diligence process involved", IDFC Group and Shriram Group have agreed to extend their "confidentiality, exclusivity and standstill agreement" for a proposed merger by a month to Nov 8.
* IFCI: At its annual general meeting on Oct 30, board will seek approval of shareholders to raise up to 50 bln rupees through various securities such as bonds and non-convertible debentures, among others.
* KAJARIA CERAMICS: To set up a new state-of-the-art manufacturing plant at Tirupati at an investment of 1.25 bln rupees.
* KEC INTERNATIONAL: Has merged its wholly-owned step-down subsidiaries, which were
incorporated as a special purpose vehicle at Delaware in USA, with another wholly-owned step-down
subsidiary SAE Towers Holdings LLC, effective from Sep 29.
* MAHINDRA & MAHINDRA: Total vehicle production in September was up 6.2% at 47,413 units,
against 44,660 units in the year-ago period.
* MAJESTIC AUTO: Has shut down its fine blanking division, which was a part of its manufacturing unit at the Greater Noida facility.
* MUTHOOT FINANCE: Baring Private Equity Partners India has scored its third exit over the course of the last three weeks, after the private equity firm completely exited its seven-year investment in the company.
* NLC INDIA: Has clarified the contract workers employed at the firm are paid in excess over the central government's mandated minimum wage.
* OIL AND NATURAL GAS CORP: In what the company is terming the "first direct evidence" of
hydrocarbon reserves in the Kutch offshore basin, the state-run firm has come across flows while
drilling the GK-28-12 well.
* PATEL ENGINEERING: Has approved raising up to 15.4 bln rupees through optionally convertible
debentures and shares.
* PHOENIX MILLS: Subsidiary Island Star Mall Developers along with Canada Pension Plan Investment Board has acquired 1.8 acres in Pune for 212.5 mln rupees on Wednesday.
* RELIANCE COMMUNICATIONS: Tower companies have started taking action against the company for pending rentals, with most reneging on service level Agreements.
* RELIANCE INDUSTRIES: Has tied up with VF Corp to manufacture moisture control products for the latter's Wrangler brand to be sold in the Asian market.
* TATA STEEL: Has sold 3.13 mln tn of steel in India in the quarter ended September, up more than
19% from the corresponding quarter last year and 14% higher sequentially.
* TECH MAHINDRA: Has hired more than 100 local, full-time employees at its Alpharetta office in
Atlanta, US.
* VAKRANGEE: Has tied up with INDUSIND BANK for the Bharat Bill Payment System platform to deliver a wide range of bill payment services from Vakrangee Kendra outlets.
