Daily Stock News Today – 03.01.2018

Daily Stock News Today – 03.01.2018


* AMARA RAJA BATTERIES: Plans to double revenue over the next three years, overtake Exide.

* APAR INDUSTRIES: Has entered into a 40:60 joint venture agreement with PPS Motors for incorporating Ampoil Apar Lubricants.

* COAL INDIA: May miss out on meeting its 600-mln tn production target for 2017-18 (Apr-Mar), going by the output pattern during the first nine months of the year.

* DIXON TECHNOLOGIES (INDIA): Joint venture AIL Dixon Technologies has started manufacturing closed-circuit television cameras and digital video recorders at its Tirupati facility.

* DUCON INFRATECHNOLOGIES: Promoter Aron Govil is voluntarily planning to pledge his 5 mln shares to raise funds for the company.

* GUJARAT NRE COKE: National Company Law Tribunal has fixed Jan 8 for the case of the company, referred to it under the Insolvency and Bankruptcy Code. Around 2,000 jobs are at stake.

* HERO MOTOCORP: Total sales of two-wheelers in December rose 43% to 472,731 units from 330,202 units a year ago.

* INDRAYANI BIOTECH: Sayee Sundar Kasiraman has issued an open offer to buy 26% stake or 947,404 shares of Indrayani Biotech at 1.10 rupees apiece.

* INFOSYS: Salil S. Parekh, who took over as the CEO and MD of the company on Tuesday, said he was excited to lead the IT major on its path of helping clients digitally reinvent themselves.

* NMDC: Fixed price of iron ore lumps at 3,100 rupees per tn, effective Tuesday.

* NTPC: Recorded its highest ever quarterly generation of 67,781 mln units during Oct-Dec of financial year 2017-18, about 10.4% more than the generation of 61,400 mln units recorded during the corresponding period of last year.

* ORBIT EXPORTS: Board will meet on Friday to consider and approve the proposal of buy back of shares.

* ORIENT GREEN POWER CO: Sold eight biomass subsidiaries to Janati Bio Power for 490 mln rupees.

* PUNJAB & SIND BANK: The board on Dec 26 approved raising up to 10 bln rupees equity capital in tranches, up till Mar 31, 2019.

* PUNJAB NATIONAL BANK: May subscribe to recapitalisation bonds worth 50-100 bln rupees.

* RELIANCE COMMUNICATIONS: The Telecom Regulatory Authority of India has granted one more month to customers of the company to port out of the network of the company, which stopped its second generation services last month.

* RELIANCE INDUSTRIES: Has commissioned a 1.5-mtpa refinery off-gas crackerunit at its Jamnagar integrated refinery-cum petrochemicals complex. GIC Re has provided reinsurance support to the company's refinery and petrochemical plants at Jamnagar and Hazira in Gujarat.

* SORIL HOLDINGS AND VENTURES: Has allotted 35 mln convertible warrants to promoters--Powerscreen Media, Calleis Real Estate, Calleis Constructions and Calleis Properties.

* STATE BANK OF INDIA: The bank and the National Bank for Agriculture and Rural Development have signed an agreement with five non-governmental organizations in Bengal for promoting 2,500 joint liability groups in select  districts of the state.

* TATA MOTORS: Subsidiary Tata Technologies suspended some of its employees for allegedly issuing forged letters of employment to 60 people.

* TITAN CO: Has said 'primary sales' or sales to franchisees of jewellery vertical, Tanishq, declined in Oct-Dec as there were huge dispatches worth 2.50-bln-rupee towards the end of the preceding quarter.

* VIKAS WSP: Got a trial export order worth 58.6 mln rupees from multinational companies for newly-developed guar gum 480U for use in lacto-fermented and other food applications.

* WESTLIFE DEVELOPMENT: Hardcastle Restaurants, a subsidiary of the company, has denied charges of profiteering from lower goods and services tax.