Daily Stock News Today – 11.10.2017
* ABG SHIPYARD: The company's committee of creditors has rejected two proposals of the entity's
interim resolution professional. The panel rejected a proposal to ratify the cash flow summary
statement for Sep 4-24, and another to create a corpus fund.
* AJANTA PHARMA: Shareholders have approved the scheme of amalgamation of Gabs Investments with the company.
* ALLAHABAD BANK: To consider raising up to 20-bln-rupee equity capital.
* AMTEK AUTO: CRISIL has filed a consent application before SEBI in the company's rating suspension case.
* APOLLO TYRES: Has approved an allotment of 63.02 mln shares to qualified institutional buyers at an issue price of 238 rupees per share, aggregating to around 15 bln rupees through qualified institutional placement.
* BAJAJ FINANCE: Has raised 10 bln rupees through the issuance of bonds maturing on Nov 18, 2024 at a coupon of 7.46%, payable semi-annually.
* BANK OF BARODA: Has tied up with SBI Mutual Fund for the sale and distribution of mutual fund products.
* BHARTI INFRATEL: A consortium led by US buyout fund KKR is in discussions to acquire Indus
Towers and the company for $11 bln.
* BODAL CHEMICALS: The company's qualified institutional placement issue opened on Tuesday. The floor price was set at 166.73 rupees a share.
* COAL INDIA: Has successfully completed negotiations on wages with its four major trade unions, with basic salary for around 320,000 employees set to increase 20%.
* DENA BANK: Opened its qualified institutional placement on Tuesday, setting a floor price of 30.73 rupees a share.
* DIXON TECHNOLOGIES INDIA: Has signed an agreement with e-commerce platform Flipkart, on Monday, for design, manufacturing and supply of MARQ brand television, washing machines and other electrical appliances.
* HDFC BANK: Was India's most valued publicly listed company, closing with market capitalisation of 5.51 trln rupees, dethroning RELIANCE INDUSTRIES by more than 3%.
* HOUSING DEVELOPMENT FINANCE CORP: Plans to raise 20 bln rupees through the issuance of bonds maturing in three years and one month at a coupon of 7.40%.
* INTERGLOBE AVIATION: US-based aircraft manufacturer Pratt & Whitney recently supplied nine Airbus A320 neo engines to the company-led IndiGo and one to Wadia Group-owned GoAir.
* JET AIRWAYS INDIA: Air France is in advanced talks with the company over a partnership as part of efforts to boost its long-haul network.
* MARUTI SUZUKI INDIA: Has doubled the discount on the diesel variant of its latest hatchback, Ignis, to 40,000 rupees in October.
* PFIZER: Said it was considering the $15 bln sale or spin-off of its consumer healthcare business.
* PSP PROJECTS: Has received a letter of intent from Surat Diamond Bourse in Gujarat for Maine
contracts worth 15.75 bln rupees.
* PVR: Has launched PVR Privilege, a loyalty programme, under which the company expects to engage up to 10 mln consumers as members of the scheme.
* RELIANCE COMMUNICATIONS: Around 4,000 employees of the company, who were transferred to the Swedish gear maker Ericsson in 2013, are headed back home.
* RELIANCE INDUSTRIES: Delhi High Court on Tuesday dismissed a writ petition filed by the company,seeking the quashing of eviction proceedings in the Le Meridien case.
* SHOPPERS STOP: Plans to use around 3 bln rupees of the amount it will get from recent divestments to reduce debt. Once it does that, the company's standalone debt will come down to around 2 bln rupees from 4.92 bln rupees.
* SICAL LOGISTICS: The company's board has approved a proposal to acquire 26% stake in the
company's subsidiary Sical Iron Ore Terminals from MMTC.
* SREI INFRASTRUCTURE FINANCE: Has filed bankruptcy petitions against three of four companies that held and sold Viom Networks shares on its behalf.
* STATE BANK OF INDIA: Has tied up with Moody's Analytics to certify the proficiency of the lender's employees in credit management. Chairman Rajnish Kumar has created a special division headed by a managing director to tackle bad loans as part of his restructuring of management.
A consortium of banks led by the bank has ordered a forensic audit of PUNJ LLOYD'S accounts after the borrower failed to service its loans for eight successive quarters.
The Gujarat government and lenders led by the bank are working on a resolution plan for the electricity generation units of the Tatas, Adanis, and Essar group in Gujarat that are making huge losses.
* SYNDICATE BANK: Has kept its marginal cost of funds-based lending rates unchanged.
* TATA STEEL: The company's move to acquire iron ore processing assets of a demerged entity of UKbased Stemcor has hit a speed breaker with Stemcor Iron Ore Holdings getting stay on any change in ownership of Brahmani Rivers Pellets.
* TATA TELESERVICES MAHARASHTRA: Has 7.89 mln subscribers collectively in the Mumbai and Maharashtra circles.
* UTTAM GALVA STEEL: Has four suitors, including Edelweiss ARC and AION Capital, Managing Director of the debt-laden steel company Ankit Miglani said.
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interim resolution professional. The panel rejected a proposal to ratify the cash flow summary
statement for Sep 4-24, and another to create a corpus fund.
* AJANTA PHARMA: Shareholders have approved the scheme of amalgamation of Gabs Investments with the company.
* ALLAHABAD BANK: To consider raising up to 20-bln-rupee equity capital.
* AMTEK AUTO: CRISIL has filed a consent application before SEBI in the company's rating suspension case.
* APOLLO TYRES: Has approved an allotment of 63.02 mln shares to qualified institutional buyers at an issue price of 238 rupees per share, aggregating to around 15 bln rupees through qualified institutional placement.
* BAJAJ FINANCE: Has raised 10 bln rupees through the issuance of bonds maturing on Nov 18, 2024 at a coupon of 7.46%, payable semi-annually.
* BANK OF BARODA: Has tied up with SBI Mutual Fund for the sale and distribution of mutual fund products.
* BHARTI INFRATEL: A consortium led by US buyout fund KKR is in discussions to acquire Indus
Towers and the company for $11 bln.
* BODAL CHEMICALS: The company's qualified institutional placement issue opened on Tuesday. The floor price was set at 166.73 rupees a share.
* COAL INDIA: Has successfully completed negotiations on wages with its four major trade unions, with basic salary for around 320,000 employees set to increase 20%.
* DENA BANK: Opened its qualified institutional placement on Tuesday, setting a floor price of 30.73 rupees a share.
* DIXON TECHNOLOGIES INDIA: Has signed an agreement with e-commerce platform Flipkart, on Monday, for design, manufacturing and supply of MARQ brand television, washing machines and other electrical appliances.
* HDFC BANK: Was India's most valued publicly listed company, closing with market capitalisation of 5.51 trln rupees, dethroning RELIANCE INDUSTRIES by more than 3%.
* HOUSING DEVELOPMENT FINANCE CORP: Plans to raise 20 bln rupees through the issuance of bonds maturing in three years and one month at a coupon of 7.40%.
* INTERGLOBE AVIATION: US-based aircraft manufacturer Pratt & Whitney recently supplied nine Airbus A320 neo engines to the company-led IndiGo and one to Wadia Group-owned GoAir.
* JET AIRWAYS INDIA: Air France is in advanced talks with the company over a partnership as part of efforts to boost its long-haul network.
* MARUTI SUZUKI INDIA: Has doubled the discount on the diesel variant of its latest hatchback, Ignis, to 40,000 rupees in October.
* PFIZER: Said it was considering the $15 bln sale or spin-off of its consumer healthcare business.
* PSP PROJECTS: Has received a letter of intent from Surat Diamond Bourse in Gujarat for Maine
contracts worth 15.75 bln rupees.
* PVR: Has launched PVR Privilege, a loyalty programme, under which the company expects to engage up to 10 mln consumers as members of the scheme.
* RELIANCE COMMUNICATIONS: Around 4,000 employees of the company, who were transferred to the Swedish gear maker Ericsson in 2013, are headed back home.
* RELIANCE INDUSTRIES: Delhi High Court on Tuesday dismissed a writ petition filed by the company,seeking the quashing of eviction proceedings in the Le Meridien case.
* SHOPPERS STOP: Plans to use around 3 bln rupees of the amount it will get from recent divestments to reduce debt. Once it does that, the company's standalone debt will come down to around 2 bln rupees from 4.92 bln rupees.
* SICAL LOGISTICS: The company's board has approved a proposal to acquire 26% stake in the
company's subsidiary Sical Iron Ore Terminals from MMTC.
* SREI INFRASTRUCTURE FINANCE: Has filed bankruptcy petitions against three of four companies that held and sold Viom Networks shares on its behalf.
* STATE BANK OF INDIA: Has tied up with Moody's Analytics to certify the proficiency of the lender's employees in credit management. Chairman Rajnish Kumar has created a special division headed by a managing director to tackle bad loans as part of his restructuring of management.
A consortium of banks led by the bank has ordered a forensic audit of PUNJ LLOYD'S accounts after the borrower failed to service its loans for eight successive quarters.
The Gujarat government and lenders led by the bank are working on a resolution plan for the electricity generation units of the Tatas, Adanis, and Essar group in Gujarat that are making huge losses.
* SYNDICATE BANK: Has kept its marginal cost of funds-based lending rates unchanged.
* TATA STEEL: The company's move to acquire iron ore processing assets of a demerged entity of UKbased Stemcor has hit a speed breaker with Stemcor Iron Ore Holdings getting stay on any change in ownership of Brahmani Rivers Pellets.
* TATA TELESERVICES MAHARASHTRA: Has 7.89 mln subscribers collectively in the Mumbai and Maharashtra circles.
* UTTAM GALVA STEEL: Has four suitors, including Edelweiss ARC and AION Capital, Managing Director of the debt-laden steel company Ankit Miglani said.
