Daily Stock News Today – 08.12.2017
* ABG SHIPYARD: Received expression of interest from various entities for resolution professionals amid the ongoing corporate insolvency resolution process.
* BANK OF MAHARASHTRA: The bank closed its qualified institutional placement of shares, setting the issue price at 25.55 rupees per share.
* CADILA HEALTHCARE: LUPIN and the company are recalling nearly 110,000 units of Duloxetine delayed-release capsules and 19,812 bottles of Paroxetine tablets, respectively, from the US market, on account of failed dissolution specification, the US health regulator said.
* CANARA BANK: The board will meet on Tuesday to consider raising capital through the issuance of additional tier-I bonds in rupee terms.
* DISHMAN CARBOGEN AMCIS: Japan's Pharmaceuticals and Medical Devices Agency has cleared the company's manufacturing plant at Bavla in Gujarat without any observations.
* EMAMI: Has acquired a 20.45% stake in Helios Lifestyle and plans to buy another 9.55% stake by December 2018.
* FEDERAL BANK: The board of directors on Tuesday approved the induction of "a strategic investor" in its whollyowned non-banking subsidiary Fedbank Financial Services.
* GAIL (INDIA): Has awarded contracts to lay 520-km of natural gas pipeline from Dobhi in Bihar to Durgapur in West Bengal, including a 120-km pipeline to Jamshedpur in Jharkhand.
* HAVELLS INDIA: Has forayed into water heater segment under the brand 'Standard' with the launch of five electric water heaters variants.
* HINDALCO INDUSTRIES: Just two days after it raised prices by around 1%, the company rolled back the rates effective Thursday.
* HOUSING AND URBAN DEVELOPMENT CORP: Is likely to set 7.06% as coupon on its bonds maturing in one-yearand-six-months.
* ICICI BANK: Plans to raise at least $500 mln by selling dollar bonds to global institutional investors. The money will be used to provide dollar funding to Indian companies abroad. The government has engaged the bank to enable online payments at 470 mandis integrated with national portal of electronic National Agriculture Market.
* INDIAN BANK: Has revised interest rates on foreign currency non-resident deposits with immediate effect.
* INFOSYS: The company approaching the capital market regulator to settle alleged lapses relating to payouts to a former chief financial officer raises fresh questions about its poor corporate governance, according to a former company executive.
* JINDAL STEEL & POWER: Has submitted a debt resolution plan to its lenders that includes a provision for raising capital through sale of equity both in India and overseas.
* KOLTE-PATIL DEVELOPERS: Will offer flats in its Life Republic project in Pune for up to 4.5 mln rupees between Dec 15 and Dec 17.
* MANAV INFRA PROJECTS: Along with NCC has bagged an order from Mumbai Metropolitan Region Development Authority for metro rail project.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: Has raised 10.56 bln rupees via qualified institutional placement. The board of directors approved the allotment of 24 mln shares at the issue price of 440 rupees per share.
* MERCATOR: A coal mine in Indonesia's Kalimantan Province run by a unit of the company has been shut since Oct 15 after the mining company's local partners dragged the Indian firm to court over a dispute on shareholding.
* NCL INDUSTRIES: The company's share issue through qualified institutional placement opened on Thursday and the floor price was set at 249.63 rupees per share.
* NESTLE INDIA: Has retained Publicis Groupe-owned media agency Zenith India as its agency of record.
* NMDC: Iron ore production during Apr-Nov was at 20.86 mln tn, up 3.8% on year. Total sales during the period under review was at 22.41 mln tn, down 0.8% on year.
* RELIANCE NAVAL AND ENGINEERING: The Bombay High Court has scuttled a last ditch attempt by the company to prevent proceedings in the bankruptcy court, dismissing a petition by it challenging the invocation of a corporate guarantee by IFCI.
* SONATA SOFTWARE: Subsidiary Sonata Europe will acquire a 15% stake in IZARA ApS, a Danish company for $96,000.
* STEEL AUTHORITY OF INDIA: Is set to approve a long-proposed $1-bln joint venture with ArcelorMittal at its board meeting next week.
* SUZLON ENERGY: The lockout at the company's rotor blade manufacturing unit at Padubidri, Karnataka, has been lifted.
* TATA POWER: The Maharashtra Electricity Regulatory Commission has temporarily stayed the decision of state power utility Brihan Mumbai Electric Supply and Transport to disqualify the company from participating in its 250-MW auction.
* TATA STEEL: Securities and Exchange Board of India has imposed a penalty of 1 mln rupees on the company for making disclosures of stake purchase in Tin Plate Co after its due date.
* TTK PRESTIGE: Prestige Clean Home, a division of the company, has launched a domestic electric mop and a new range of water purifiers.
* TUBE INVESTMENTS OF INDIA: Will acquire 80% stake each in Sri Lanka-based Great Cycles and Creative Cycles for $3.34 mln and a sum equivalent to 80% of the net working capital as of Nov 30 of the two companies.
* TVS MOTOR CO: Has acquired a 14.78% stake or 6,750 shares in Ultraviolette Automotive at 7,409 rupees per share, aggregating to a total of 50 mln rupees.
* TV TODAY NETWORK: Has invested 286 mln rupees to buy 28.6 mln shares of subsidiary Mail Today Newspaper.
* UNION BANK OF INDIA: The board has approved the opening of its qualified institutional place.
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* BANK OF MAHARASHTRA: The bank closed its qualified institutional placement of shares, setting the issue price at 25.55 rupees per share.
* CADILA HEALTHCARE: LUPIN and the company are recalling nearly 110,000 units of Duloxetine delayed-release capsules and 19,812 bottles of Paroxetine tablets, respectively, from the US market, on account of failed dissolution specification, the US health regulator said.
* CANARA BANK: The board will meet on Tuesday to consider raising capital through the issuance of additional tier-I bonds in rupee terms.
* DISHMAN CARBOGEN AMCIS: Japan's Pharmaceuticals and Medical Devices Agency has cleared the company's manufacturing plant at Bavla in Gujarat without any observations.
* EMAMI: Has acquired a 20.45% stake in Helios Lifestyle and plans to buy another 9.55% stake by December 2018.
* FEDERAL BANK: The board of directors on Tuesday approved the induction of "a strategic investor" in its whollyowned non-banking subsidiary Fedbank Financial Services.
* GAIL (INDIA): Has awarded contracts to lay 520-km of natural gas pipeline from Dobhi in Bihar to Durgapur in West Bengal, including a 120-km pipeline to Jamshedpur in Jharkhand.
* HAVELLS INDIA: Has forayed into water heater segment under the brand 'Standard' with the launch of five electric water heaters variants.
* HINDALCO INDUSTRIES: Just two days after it raised prices by around 1%, the company rolled back the rates effective Thursday.
* HOUSING AND URBAN DEVELOPMENT CORP: Is likely to set 7.06% as coupon on its bonds maturing in one-yearand-six-months.
* ICICI BANK: Plans to raise at least $500 mln by selling dollar bonds to global institutional investors. The money will be used to provide dollar funding to Indian companies abroad. The government has engaged the bank to enable online payments at 470 mandis integrated with national portal of electronic National Agriculture Market.
* INDIAN BANK: Has revised interest rates on foreign currency non-resident deposits with immediate effect.
* INFOSYS: The company approaching the capital market regulator to settle alleged lapses relating to payouts to a former chief financial officer raises fresh questions about its poor corporate governance, according to a former company executive.
* JINDAL STEEL & POWER: Has submitted a debt resolution plan to its lenders that includes a provision for raising capital through sale of equity both in India and overseas.
* KOLTE-PATIL DEVELOPERS: Will offer flats in its Life Republic project in Pune for up to 4.5 mln rupees between Dec 15 and Dec 17.
* MANAV INFRA PROJECTS: Along with NCC has bagged an order from Mumbai Metropolitan Region Development Authority for metro rail project.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: Has raised 10.56 bln rupees via qualified institutional placement. The board of directors approved the allotment of 24 mln shares at the issue price of 440 rupees per share.
* MERCATOR: A coal mine in Indonesia's Kalimantan Province run by a unit of the company has been shut since Oct 15 after the mining company's local partners dragged the Indian firm to court over a dispute on shareholding.
* NCL INDUSTRIES: The company's share issue through qualified institutional placement opened on Thursday and the floor price was set at 249.63 rupees per share.
* NESTLE INDIA: Has retained Publicis Groupe-owned media agency Zenith India as its agency of record.
* NMDC: Iron ore production during Apr-Nov was at 20.86 mln tn, up 3.8% on year. Total sales during the period under review was at 22.41 mln tn, down 0.8% on year.
* RELIANCE NAVAL AND ENGINEERING: The Bombay High Court has scuttled a last ditch attempt by the company to prevent proceedings in the bankruptcy court, dismissing a petition by it challenging the invocation of a corporate guarantee by IFCI.
* SONATA SOFTWARE: Subsidiary Sonata Europe will acquire a 15% stake in IZARA ApS, a Danish company for $96,000.
* STEEL AUTHORITY OF INDIA: Is set to approve a long-proposed $1-bln joint venture with ArcelorMittal at its board meeting next week.
* SUZLON ENERGY: The lockout at the company's rotor blade manufacturing unit at Padubidri, Karnataka, has been lifted.
* TATA POWER: The Maharashtra Electricity Regulatory Commission has temporarily stayed the decision of state power utility Brihan Mumbai Electric Supply and Transport to disqualify the company from participating in its 250-MW auction.
* TATA STEEL: Securities and Exchange Board of India has imposed a penalty of 1 mln rupees on the company for making disclosures of stake purchase in Tin Plate Co after its due date.
* TTK PRESTIGE: Prestige Clean Home, a division of the company, has launched a domestic electric mop and a new range of water purifiers.
* TUBE INVESTMENTS OF INDIA: Will acquire 80% stake each in Sri Lanka-based Great Cycles and Creative Cycles for $3.34 mln and a sum equivalent to 80% of the net working capital as of Nov 30 of the two companies.
* TVS MOTOR CO: Has acquired a 14.78% stake or 6,750 shares in Ultraviolette Automotive at 7,409 rupees per share, aggregating to a total of 50 mln rupees.
* TV TODAY NETWORK: Has invested 286 mln rupees to buy 28.6 mln shares of subsidiary Mail Today Newspaper.
* UNION BANK OF INDIA: The board has approved the opening of its qualified institutional place.
