Daily Stock News Today – 16.10.2017
* ASHOK LEYLAND: The company said that the Delhi High Court has stayed a government directive disqualifying one of its directors till Nov 1.
* ARTSON ENGINEERING: Has received an order of around 70 mln rupees for fabrication and laying of Continuous Weld Pipeline works of power plant.
* BAJAJ CORP: A significant number of wholesale dealers of the company are yet to restock products after the implementation of the goods and services tax. Is looking at acquisition opportunities targeting niche brands and also aiming to capture a market share of 65% in light hair oil segment by 2018-19.
* BHARTI AIRTEL: The company, through its subsidiaries, has completed the deal with Millicom
International to merge their operations in Ghana.
* BODAL CHEMICALS: The board has closed the qualified institutional placement issue and fixed the issue price at 172 rupees per share.
* CADILA HEALTHCARE: Has received the US Food and Drug Administration's final approval to market Allopurinol tablets in 100-mg and 300-mg strengths.
* CYIENT: Reliance Mutual Fund bought 2.3 mln shares of the company or 2.07% of its total
outstanding shares for 520 rupees a share via two bulk deals on the BSE.
* DENA BANK: The bank closed its qualified institutional placement of shares, setting an issue price of 29.20 rupees apiece.
* DEN NETWORKS: BARC India has partnered the company to measure TV viewership using return path data through its digital set top boxes.
* GE POWER INDIA: Has won two orders worth of 3.27 bln rupees from Doosan Power Systems India to supply ambient air quality control systems to be installed at power plants.
* GRUH FINANCE: Reported Jul-Sep net profit of 777.7 mln rupees, up 25.5% on year. Revenue from operations was at 4.1 bln rupees, up 12.7% on year.
* HCL INFOSYSTEMS: The scheduled board meeting on Saturday to mull rights issue of shares has been deferred to next week.
* HCL TECHNOLOGIES: The company announced a new intellectual-property partnership agreement with US-based DXC Technology, calling off the its previous joint venture with the American company, entered into in 2015.
* HINDALCO INDUSTRIES: Is gearing up to mount a multi-billion dollar bid to acquire Aleris Corp from its private equity owners.
* HINDUSTAN UNILEVER: The company has appointed Srinivas Phatak as chief financial officer and executive director, finance and information technology. The appointment will be effective Dec 1.
* HOTEL LEELAVENTURE: Has sought restructuring of its repayment plan from JM Financial Asset Reconstruction Company.
* ICICI PRUDENTIAL LIFE INSURANCE CO: Has increased its stake in SADBHAV ENGINEERING to 7.89% by purchasing shares through open market on Friday.
* IDBI Bank: The bank's employees along with the members of various bank unions would hold a twoday strike later this month demanding wage revision.
* IDFC: A group of domestic investors are arguing that the company has no management bandwidth to run the truck financing business of Shriram Group, besides demanding a better share swap ratio.
* INDUSIND BANK: BHARAT FINANCIAL INCLUSION will merge with the bank. The two sides also froze the swap ratio at 639 shares of the bank for every 1,000 shares of BHARAT FINANCIAL INCLUSION. The merger of BHARAT FINANCIAL INCLUSION into the bank has big growth potentials for the bank and will also provide stability to the business of the microfinance lender, said Managing Director Romesh Sobti, terming the deal a "win-win" for both sides.
* INFO EDGE (INDIA): Has invested 507.1 mln rupees in Etechaces Marketing and Consulting.
* JINDAL STEEL & POWER: Has managed to repay its outstanding interest dues to lenders, using a large part of the proceeds of the sale of two of its oxygen plants to SREI Equipment Finance last week.
* KOTAK MAHINDRA BANK: The bank bought 26% equity stake in its subsidiary Kotak Mahindra Old Mutual Life Insurance from Old Mutual Plc for 12.93 bln rupees.
* MANPASAND BEVERAGES: The Reserve Bank of India said that foreign portfolio investors and foreign institutional investors cannot buy more shares of the company, as the aggregate foreign holding had touched the permissible limit.
* MBL INFRASTRUCTURE: Promoters may infuse between 500 mln rupees and 1 bln rupees of capital into the company to avoid liquidation.
* NTPC: The National Green Tribunal issued notice to the company seeking its reply whether it can use crop residue to run its thermal power plant.
* POWER GRID CORP: The company said it has paid a total dividend of 22.75 bln rupees to its
shareholders in 2016-17.
* PRATAAP SNACKS: The Reserve Bank of India notified that foreign portfolio investors can invest up to 100% of the paid-up capital in the company, under the portfolio investment scheme, against the earlier limit of 24%.
* RELIANCE CAPITAL: Has raised 10 bln rupees through the issuance of bonds maturing in five years at a coupon rate of 8.83%.
* RELIANCE HOME FINANCE: Has raised 10 bln rupees through the issuance of non-convertible
debentures.
* RELIANCE INDUSTRIES: Reported Jul-Sep consolidated net profit of 81.1 bln rupees, up 12.5% on year. Revenue from operations was at 950.9 bln rupees, up 16.5% on year. Has come to the end of a capital expenditure cycle and the company expects to see a sharp improvement in the return on capital in the upcoming quarters, said Alok Agarwal, chief financial officer. The company has sold all its conventional oil and gas exploration blocks outside India. Arm Reliance Retail will start the second phase of booking for JioPhone post Diwali after completing delivery of about 6 mln mobile devices that were booked in August.
* RELIANCE NAVAL AND ENGINEERING: The board has approved raising up to 15 bln rupees through rights issue of shares.
* RURAL ELECTRIFICATION CORP: Plans to raise at least 5 bln rupees through the issuance of bonds maturing in five years and has sought bids from 1230 IST to 1245 IST on MondaY.
* TATA CONSULTANCY SERVICES: Has initiated a process to encash its real estate assets in
Maharashtra and Gujarat, for which the company is expecting to raise about 5 bln rupees.
* TATA TELESERVICES (MAHARASHTRA): The company's board will consider raising up to 60 bln rupees on Wednesday through issue of redeemable preference shares to promoters on a preferential basis, non-convertible debentures in one or more tranches on a private placement basis, and intercorporate deposits or loans from promoters and others.
* TCI EXPRESS: Has laid out plans for a 4-bln-rupee expansion over the next five years to modernise its existing 28 sorting centres across the country and scale up the IT network.
* TITAGARH WAGONS: Has received a letter of acceptance from the Nepal government for its bid to supply modular bridges. The order value is $9 mln.
* VA TECH WABAG: The company said the National Company Law Tribunal has recalled its earlier order initiating insolvency process on the company, as it had opted to repay its debt to operational creditors.
* VISA STEEL: The Reserve Bank of India hiked the limit for foreign portfolio investors' investment in the company to 74% of the company's paid-up equity capital from 24%.
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* ARTSON ENGINEERING: Has received an order of around 70 mln rupees for fabrication and laying of Continuous Weld Pipeline works of power plant.
* BAJAJ CORP: A significant number of wholesale dealers of the company are yet to restock products after the implementation of the goods and services tax. Is looking at acquisition opportunities targeting niche brands and also aiming to capture a market share of 65% in light hair oil segment by 2018-19.
* BHARTI AIRTEL: The company, through its subsidiaries, has completed the deal with Millicom
International to merge their operations in Ghana.
* BODAL CHEMICALS: The board has closed the qualified institutional placement issue and fixed the issue price at 172 rupees per share.
* CADILA HEALTHCARE: Has received the US Food and Drug Administration's final approval to market Allopurinol tablets in 100-mg and 300-mg strengths.
* CYIENT: Reliance Mutual Fund bought 2.3 mln shares of the company or 2.07% of its total
outstanding shares for 520 rupees a share via two bulk deals on the BSE.
* DENA BANK: The bank closed its qualified institutional placement of shares, setting an issue price of 29.20 rupees apiece.
* DEN NETWORKS: BARC India has partnered the company to measure TV viewership using return path data through its digital set top boxes.
* GE POWER INDIA: Has won two orders worth of 3.27 bln rupees from Doosan Power Systems India to supply ambient air quality control systems to be installed at power plants.
* GRUH FINANCE: Reported Jul-Sep net profit of 777.7 mln rupees, up 25.5% on year. Revenue from operations was at 4.1 bln rupees, up 12.7% on year.
* HCL INFOSYSTEMS: The scheduled board meeting on Saturday to mull rights issue of shares has been deferred to next week.
* HCL TECHNOLOGIES: The company announced a new intellectual-property partnership agreement with US-based DXC Technology, calling off the its previous joint venture with the American company, entered into in 2015.
* HINDALCO INDUSTRIES: Is gearing up to mount a multi-billion dollar bid to acquire Aleris Corp from its private equity owners.
* HINDUSTAN UNILEVER: The company has appointed Srinivas Phatak as chief financial officer and executive director, finance and information technology. The appointment will be effective Dec 1.
* HOTEL LEELAVENTURE: Has sought restructuring of its repayment plan from JM Financial Asset Reconstruction Company.
* ICICI PRUDENTIAL LIFE INSURANCE CO: Has increased its stake in SADBHAV ENGINEERING to 7.89% by purchasing shares through open market on Friday.
* IDBI Bank: The bank's employees along with the members of various bank unions would hold a twoday strike later this month demanding wage revision.
* IDFC: A group of domestic investors are arguing that the company has no management bandwidth to run the truck financing business of Shriram Group, besides demanding a better share swap ratio.
* INDUSIND BANK: BHARAT FINANCIAL INCLUSION will merge with the bank. The two sides also froze the swap ratio at 639 shares of the bank for every 1,000 shares of BHARAT FINANCIAL INCLUSION. The merger of BHARAT FINANCIAL INCLUSION into the bank has big growth potentials for the bank and will also provide stability to the business of the microfinance lender, said Managing Director Romesh Sobti, terming the deal a "win-win" for both sides.
* INFO EDGE (INDIA): Has invested 507.1 mln rupees in Etechaces Marketing and Consulting.
* JINDAL STEEL & POWER: Has managed to repay its outstanding interest dues to lenders, using a large part of the proceeds of the sale of two of its oxygen plants to SREI Equipment Finance last week.
* KOTAK MAHINDRA BANK: The bank bought 26% equity stake in its subsidiary Kotak Mahindra Old Mutual Life Insurance from Old Mutual Plc for 12.93 bln rupees.
* MANPASAND BEVERAGES: The Reserve Bank of India said that foreign portfolio investors and foreign institutional investors cannot buy more shares of the company, as the aggregate foreign holding had touched the permissible limit.
* MBL INFRASTRUCTURE: Promoters may infuse between 500 mln rupees and 1 bln rupees of capital into the company to avoid liquidation.
* NTPC: The National Green Tribunal issued notice to the company seeking its reply whether it can use crop residue to run its thermal power plant.
* POWER GRID CORP: The company said it has paid a total dividend of 22.75 bln rupees to its
shareholders in 2016-17.
* PRATAAP SNACKS: The Reserve Bank of India notified that foreign portfolio investors can invest up to 100% of the paid-up capital in the company, under the portfolio investment scheme, against the earlier limit of 24%.
* RELIANCE CAPITAL: Has raised 10 bln rupees through the issuance of bonds maturing in five years at a coupon rate of 8.83%.
* RELIANCE HOME FINANCE: Has raised 10 bln rupees through the issuance of non-convertible
debentures.
* RELIANCE INDUSTRIES: Reported Jul-Sep consolidated net profit of 81.1 bln rupees, up 12.5% on year. Revenue from operations was at 950.9 bln rupees, up 16.5% on year. Has come to the end of a capital expenditure cycle and the company expects to see a sharp improvement in the return on capital in the upcoming quarters, said Alok Agarwal, chief financial officer. The company has sold all its conventional oil and gas exploration blocks outside India. Arm Reliance Retail will start the second phase of booking for JioPhone post Diwali after completing delivery of about 6 mln mobile devices that were booked in August.
* RELIANCE NAVAL AND ENGINEERING: The board has approved raising up to 15 bln rupees through rights issue of shares.
* RURAL ELECTRIFICATION CORP: Plans to raise at least 5 bln rupees through the issuance of bonds maturing in five years and has sought bids from 1230 IST to 1245 IST on MondaY.
* TATA CONSULTANCY SERVICES: Has initiated a process to encash its real estate assets in
Maharashtra and Gujarat, for which the company is expecting to raise about 5 bln rupees.
* TATA TELESERVICES (MAHARASHTRA): The company's board will consider raising up to 60 bln rupees on Wednesday through issue of redeemable preference shares to promoters on a preferential basis, non-convertible debentures in one or more tranches on a private placement basis, and intercorporate deposits or loans from promoters and others.
* TCI EXPRESS: Has laid out plans for a 4-bln-rupee expansion over the next five years to modernise its existing 28 sorting centres across the country and scale up the IT network.
* TITAGARH WAGONS: Has received a letter of acceptance from the Nepal government for its bid to supply modular bridges. The order value is $9 mln.
* VA TECH WABAG: The company said the National Company Law Tribunal has recalled its earlier order initiating insolvency process on the company, as it had opted to repay its debt to operational creditors.
* VISA STEEL: The Reserve Bank of India hiked the limit for foreign portfolio investors' investment in the company to 74% of the company's paid-up equity capital from 24%.
