Daily Stock News Today – 13.10.2017
* AAREY DRUGS AND PHARMACEUTICALS: The board has decided to withdraw the shareholders' resolution, taken on Aug 14, to approve 10-for-1 stock split.
* ABG SHIPYARD: MAHINDRA & MAHINDRA, Shapoorji Pallonji Group and Liberty House of the UK are competing to acquire the company, as a consortium of lenders led by ICICI BANK step up efforts to sell the company to recover money.
* ATUL AUTO: Birla Sunlife Small & Midcap fund bought 175,000 shares of the company or 0.8% of its total outstanding shares for 463 rupees a share via a bulk deal on the National Stock Exchange.
* BHARTI AIRTEL: Has signed an agreement to acquire the consumer mobile businesses of Tata
Teleservices and its arm TATA TELESERVICES (MAHARASHTRA) with itself on a debt-free, cash-free basis.
* CADILA HEALTHCARE: Has got the US Food and Drug Administration's approval for trazodone
hydrochloride tablets.
* CAN FIN HOMES: Plans to raise up to 4 bln rupees through the issuance of bonds maturing in 39
months and has invited bids from 1400 IST to 1430 IST on Monday.
* CANARA BANK: Plans to raise up to $200 mln through the reissuance of its existing 3.25% bond set to mature in August 2022.
* DEWAN HOUSING FINANCE: Promoters of the company and RKW Developers are under the incometax department scanner in connection with alleged transactions in benami properties of 950 mln rupees in a Mumbai-based redevelopment project.
* HDFC BANK: Has announced the launch of SmartUp Zones in its branches across India. The zone is a special area inside the branch dedicated to start-ups.
* IDEA CELLULAR: Both Vodafone and the company are in talks with domestic handset makers,
including Lava and Karbonn, to jointly roll out a new set of smartphones in the 1,500-rupee range to
take on BHARTI AIRTEL and Reliance Jio Infocomm.
* INTERGLOBE AVIATION: Has said it would require at least 120 days to make changes to its operations at the Delhi airport and has suggested rival SPICEJET to consider shifting its operations fully alongside GoAir to Terminal 2.
* MMTC: May import around 40 tn of gold in 2017-18 (Apr-Mar) due to improving domestic demand, MMTC Chairman and Managing Director Ved Prakash.
* NBCC (INDIA): May acquire three other government-owned entities to create a mega construction
company.
* PIRAMAL ENTERPRISES: Board has approved raising of up to 70 bln rupees through a combination of debt and equity.
* RELIGARE ENTERPRISES: RBI has imposed a 2-mln-rupee penalty on arm Religare Finvest for failure to comply with the regulator's directions with respect to"an assignment transaction".
* RELIANCE INDUSTRIES: Arm Reliance Jio Infocomm has announced a new plan wherein prepaid customers can recharge for 399 rupees from Oct 12-18 to retain current tariff benefits for three months.
* RELIANCE COMMUNICATIONS: Lenders to the company recently turned down a proposal by the telcom company to sell 17 properties across the country to repay Ericsson 1.11 crore rupees, bankers said.
* SBI LIFE INSURANCE CO: New premium income of the recently-listed company fell 36.1% on year in September to 8.2 bln rupees.
* SHRIRAM CITY UNION FINANCE: Plans to raise 5 bln rupees through non-convertible debentures, following an approval from banking and securities management committee.
* SHRIRAM EPC: Has received two orders worth 3.49 bln rupees from Bihar Urban Infrastructure
Development Corp and Karnataka Urban Infrastructure & Finance Corp.
* STERLING BIOTECH: The Delhi HC has refused to grant interim relief to two directors, in a case
related to alleged money laundering by the company.
* SUN PHARMACEUTICAL INDUSTRIES: Arm Sun Pharma (Netherlands) will acquire 8.3% additional stake of another arm, Ranbaxy Malaysia, for 2.8 mln ringgits (about 44.1 mln rupees).
* TATA TELESERVICES (MAHARASHTRA): TATA COMMUNICATIONS has proposed to engage in exploratory discussions with Tata Teleservices and the company regarding the potential acquisition of its enterprise business.
* TATA CONSULTANCY SERVICES: Reported Jul-Sep consolidated net profit of 64.5 bln rupees, 8.4% higher on quarter. Revenue from operations was at 305.4 bln rupees, up nearly 3.2% on quarter. The company will pay an interim dividend of 7 rupees per share.
* TATA STEEL: Will look at all inorganic options to achieve its target of doubling capacity in the next five years, the company's India and Southeast Asia Managing Director T.V. Narendran said.
* WIPRO: Has moved several critical components of its information technology infrastructure to
Microsoft Corp-offered Azure platform.
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* ABG SHIPYARD: MAHINDRA & MAHINDRA, Shapoorji Pallonji Group and Liberty House of the UK are competing to acquire the company, as a consortium of lenders led by ICICI BANK step up efforts to sell the company to recover money.
* ATUL AUTO: Birla Sunlife Small & Midcap fund bought 175,000 shares of the company or 0.8% of its total outstanding shares for 463 rupees a share via a bulk deal on the National Stock Exchange.
* BHARTI AIRTEL: Has signed an agreement to acquire the consumer mobile businesses of Tata
Teleservices and its arm TATA TELESERVICES (MAHARASHTRA) with itself on a debt-free, cash-free basis.
* CADILA HEALTHCARE: Has got the US Food and Drug Administration's approval for trazodone
hydrochloride tablets.
* CAN FIN HOMES: Plans to raise up to 4 bln rupees through the issuance of bonds maturing in 39
months and has invited bids from 1400 IST to 1430 IST on Monday.
* CANARA BANK: Plans to raise up to $200 mln through the reissuance of its existing 3.25% bond set to mature in August 2022.
* DEWAN HOUSING FINANCE: Promoters of the company and RKW Developers are under the incometax department scanner in connection with alleged transactions in benami properties of 950 mln rupees in a Mumbai-based redevelopment project.
* HDFC BANK: Has announced the launch of SmartUp Zones in its branches across India. The zone is a special area inside the branch dedicated to start-ups.
* IDEA CELLULAR: Both Vodafone and the company are in talks with domestic handset makers,
including Lava and Karbonn, to jointly roll out a new set of smartphones in the 1,500-rupee range to
take on BHARTI AIRTEL and Reliance Jio Infocomm.
* INTERGLOBE AVIATION: Has said it would require at least 120 days to make changes to its operations at the Delhi airport and has suggested rival SPICEJET to consider shifting its operations fully alongside GoAir to Terminal 2.
* MMTC: May import around 40 tn of gold in 2017-18 (Apr-Mar) due to improving domestic demand, MMTC Chairman and Managing Director Ved Prakash.
* NBCC (INDIA): May acquire three other government-owned entities to create a mega construction
company.
* PIRAMAL ENTERPRISES: Board has approved raising of up to 70 bln rupees through a combination of debt and equity.
* RELIGARE ENTERPRISES: RBI has imposed a 2-mln-rupee penalty on arm Religare Finvest for failure to comply with the regulator's directions with respect to"an assignment transaction".
* RELIANCE INDUSTRIES: Arm Reliance Jio Infocomm has announced a new plan wherein prepaid customers can recharge for 399 rupees from Oct 12-18 to retain current tariff benefits for three months.
* RELIANCE COMMUNICATIONS: Lenders to the company recently turned down a proposal by the telcom company to sell 17 properties across the country to repay Ericsson 1.11 crore rupees, bankers said.
* SBI LIFE INSURANCE CO: New premium income of the recently-listed company fell 36.1% on year in September to 8.2 bln rupees.
* SHRIRAM CITY UNION FINANCE: Plans to raise 5 bln rupees through non-convertible debentures, following an approval from banking and securities management committee.
* SHRIRAM EPC: Has received two orders worth 3.49 bln rupees from Bihar Urban Infrastructure
Development Corp and Karnataka Urban Infrastructure & Finance Corp.
* STERLING BIOTECH: The Delhi HC has refused to grant interim relief to two directors, in a case
related to alleged money laundering by the company.
* SUN PHARMACEUTICAL INDUSTRIES: Arm Sun Pharma (Netherlands) will acquire 8.3% additional stake of another arm, Ranbaxy Malaysia, for 2.8 mln ringgits (about 44.1 mln rupees).
* TATA TELESERVICES (MAHARASHTRA): TATA COMMUNICATIONS has proposed to engage in exploratory discussions with Tata Teleservices and the company regarding the potential acquisition of its enterprise business.
* TATA CONSULTANCY SERVICES: Reported Jul-Sep consolidated net profit of 64.5 bln rupees, 8.4% higher on quarter. Revenue from operations was at 305.4 bln rupees, up nearly 3.2% on quarter. The company will pay an interim dividend of 7 rupees per share.
* TATA STEEL: Will look at all inorganic options to achieve its target of doubling capacity in the next five years, the company's India and Southeast Asia Managing Director T.V. Narendran said.
* WIPRO: Has moved several critical components of its information technology infrastructure to
Microsoft Corp-offered Azure platform.
