Today Stock News – 05.02.2018
* ADANI POWER: Has sought approval from the commerce ministry to set up a special economic zone for the power sector in Jharkhand, entailing investment of 150.02 bln rupees.
* ADITYA BIRLA FASHION AND RETAIL: The licensee of American fast fashion brand, Forever21, is downsizing the brand's stores and cutting costs as sales from the fast fashion business decline.
* AEGIS LOGISTICS: The board has recommended to pay 0.5 rupee per share interim dividend.
* AMTEK AUTO: UK-based Liberty House Group is in talks with the lenders of the company to submit a revised bid for the company after its previous bid was rejected by a panel of lenders.
* AUROBINDO PHARMA: Has got an approval from US Food and Drug Administration for Niacin in 500-mg, 750-mg and 1-gm strengths.
* AVENUE SUPERMARTS: Has completed the acquisition of 43.55 mln shares of Avenue E-Commerce at 11.30 rupees apiece, for 492.12 mln rupees.
* BAJAJ AUTO: Vishwa Kalyan Kamgaar Sanghatana, on Friday withdrew its indefinite hunger strike after the company agreed to extend the wage hike given to the workers at Chakan to the staff of Akurdi plant.
* BHUSHAN STEEL: JSW STEEL and PIRAMAL ENTERPRISES will be bidding jointly for the company, the stressed asset put up for sale under the Insolvency and Bankruptcy Code. JSW STEEL and TATA STEEL from India, and Luxembourg-based ArcelorMittal are learnt to have submitted bids for the company which is undergoing insolvency proceedings.
* BLUE STAR: HDFC Trustee Co, through various schemes of HDFC Mutual Fund sold 1.5 mln shares or 2.1% stake in the company through open market on Thursday.
* CENTRAL BANK OF INDIA: Shareholders of Central Bank of India, on Friday, approved an issue of 38.84 mln shares worth 3.23 bln rupees to the government on a preferential basis at 83.15 rupees per share.
* COSMO FILMS: Has commissioned its second cast polypropylene and fourth metalised film line at its Vadodara plant.
* CUMMINS INDIA: The Company has appointed Sandeep Sinha as vice president of India area
business organisation with immediate effect.
* FORCE MOTORS: In January, the company's domestic sales of small commercial vehicles and light commercial vehicles were at 1,333 units, while those of utility vehicles, sports utility vehicles and tractors were at 1,141 units.
* GAIL INDIA: Has placed a 4.4-bln-rupee order for laying around 350 km of pipeline from Vijaipur in Madhya Pradesh to Auraiya in Uttar Pradesh.
* GANESHA ECOSPHERE: Commercial production at the company's Temra unit in Uttar Pradesh commenced on Thursday.
* GMR INFRASTRUCTURE: Subsidiary GMR Airports has entered into an agreement to buy 11% stake in GMR Hyderabad International Airport from Malaysian Airports Holding Berhad and its subsidiary MAHB (Mauritius) for around $76 mln.
* GODREJ PROPERTIES: Has sold 200,000 sq ft area in its commercial building at Bandra-Kurla complex in Mumbai for nearly 7 bln rupees so far this fiscal riding on the demand for prime rent-yielding assets.
* GRAPHITE INDIA: The board has recommended paying an interim dividend of 5 rupees a share.
* GUJARAT NRE COKE: The BSE and the National Stock Exchange will suspend trading in the equity shares of the company from Feb 12 as liquidation proceedings have started against the insolvent company.
* GVK POWER & INFRASTRUCTURE: Punjab State Power Corp has signed the power purchase agreement with the company.
* INDIAN OIL CORP: Will invest 34 bln rupees in Assam over the next five years to expand its operations by setting up new units as well as upgrading the existing ones.
* JK CEMENT: The board has approved brownfield expansion at the Mangrol unit in Rajasthan with split grinding unit in Uttar Pradesh and Gujarat having total cement production capacity of 4.2 mtpa at 20 bln rupees.
* KPIT TECHNOLOGY: VE Commercial Vehicles, a JV between Volvo Group and EICHER MOTORS, will integrate the company's indigenously developed electrification technology, Revolo, on its Skyline Pro platform.
* MASTEK: AJO Emerging Markets Small-Cap Master Fund has bought 126,203 shares or 0.5% stake in the company at 461.17 rupees a share through a bulk deal on the NSE.
* MAHINDRA & MAHINDRA: Subsidiary Mahindra First Choice Wheels has raised a new round of $15 mln.
* MANGALAM ORGANICS: Board approved buyback of 610,000 shares at 230 rupees a share for a total consideration of up to 140.30 mln rupees.
* MARUTI SUZUKI INDIA: Has received more than 30,000 bookings for its all-new generation Swift, to be launched on Feb 8 at the Auto Expo. Is keeping options open to partner with tech firms locally and play a part in parent Suzuki's future product development.
* NTPC: JAIPRAKASH POWER VENTURES has offered its Nigrie power project to the company. STATE BANK OF INDIA has offered stake sale in three stressed plants of Bajaj Lalitpur, JAYPEE INFRATECH and Jindal India Thermal to the company.
* ORCHID PHARMA: STRIDES SHASUN, Nectar Lifesciences and private equity firm Blackstone have emerged as frontrunners for the company.
* PIRAMAL ENTERPRISES: Arm Piramal Finance is looking to widen its business in tier-II cities and among non-real estate borrowers.
* REPCO HOME FINANCE: Nomura India Investment Fund Mother Fund has sold 650,000 share or 1% stake in the company at 595 rupees a share through a bulk deal on BSE.
* RELIANCE COMMUNICATIONS: Has withdrawn a petition seeking insolvency of the company filed before the National Company Law Tribunal. Has opposed the telecom regulator's directive asking the company to refund unspent balance of mobile subscribers, in the wake of discontinuation of its voice services.
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm, topped the Telecom Regulatory Authority of India's 4G mobile data speed test in November. Chairman Mukesh Ambani has announced an investment of 25 bln rupees in Assam in various sectors, including retail, petroleum, telecom, tourism and sports. Has emerged as the sole contender to acquire a part of JBF INDUSTRIES' operations in a transaction that will include its entire overseas operations and an upcoming plant in Mangalore.
* SPECIALITY RESTAURANTS: Mainland China restaurant of the company, located at Kolkata's South City Mall, has resumed commercial operations with effect from Thursday.
* SPICEJET: The Company is exploring possibilities to introduce seaplanes on Brahmaputra in Assam, making the river the largest waterway in the world.
* SYNDICATE BANK: The board has approved the issue of shares worth 28.39 bln rupees to the government on a preferential basis, the bank said.
* TATA STEEL: Has completed the acquisition of 74% stake in joint venture Bhubaneshwar Power for 2.55 bln rupees from its partner JL Power Ventures. Has announced an investment of over 14 mln pound sterling in its Hot Strip Mill at Port Talbot in South Wales. Will raise capacity at its Port Talbot site in South Wales by 5% as it announced new investment targeted at its increasing focus on high-value added steel produce.
* THYROCARE TECHNOLOGIES: The board has recommended paying an interim dividend of 5 rupees a share.
* UCO BANK: The board of directors will meet on Friday to consider and approve the proposed preferential allotment of shares worth 51.32 bln rupees to the government.
* UNION BANK: Will now raise up to 65.24 bln rupees through equity in the current financial year.
* VAKRANGEE: Has denied all allegations of manipulation in the shares of the company and said it has not received any communication from the Securities and Exchange Board of India in this regard.
* VOLTAS: Has launched window air conditioners with direct current inverter technology.
* WIPRO: Has announced a partnership with the World Economic Forum Centre for the Fourth Industrial Revolution, a San Francisco-based hub, to assist organisations in the hub to implement internet of things related technology and platform world over.
* YES BANK: Former senior official of the bank Jaideep Iyer is set to join RBL BANK as chief strategy officer next week.
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* ADITYA BIRLA FASHION AND RETAIL: The licensee of American fast fashion brand, Forever21, is downsizing the brand's stores and cutting costs as sales from the fast fashion business decline.
* AEGIS LOGISTICS: The board has recommended to pay 0.5 rupee per share interim dividend.
* AMTEK AUTO: UK-based Liberty House Group is in talks with the lenders of the company to submit a revised bid for the company after its previous bid was rejected by a panel of lenders.
* AUROBINDO PHARMA: Has got an approval from US Food and Drug Administration for Niacin in 500-mg, 750-mg and 1-gm strengths.
* AVENUE SUPERMARTS: Has completed the acquisition of 43.55 mln shares of Avenue E-Commerce at 11.30 rupees apiece, for 492.12 mln rupees.
* BAJAJ AUTO: Vishwa Kalyan Kamgaar Sanghatana, on Friday withdrew its indefinite hunger strike after the company agreed to extend the wage hike given to the workers at Chakan to the staff of Akurdi plant.
* BHUSHAN STEEL: JSW STEEL and PIRAMAL ENTERPRISES will be bidding jointly for the company, the stressed asset put up for sale under the Insolvency and Bankruptcy Code. JSW STEEL and TATA STEEL from India, and Luxembourg-based ArcelorMittal are learnt to have submitted bids for the company which is undergoing insolvency proceedings.
* BLUE STAR: HDFC Trustee Co, through various schemes of HDFC Mutual Fund sold 1.5 mln shares or 2.1% stake in the company through open market on Thursday.
* CENTRAL BANK OF INDIA: Shareholders of Central Bank of India, on Friday, approved an issue of 38.84 mln shares worth 3.23 bln rupees to the government on a preferential basis at 83.15 rupees per share.
* COSMO FILMS: Has commissioned its second cast polypropylene and fourth metalised film line at its Vadodara plant.
* CUMMINS INDIA: The Company has appointed Sandeep Sinha as vice president of India area
business organisation with immediate effect.
* FORCE MOTORS: In January, the company's domestic sales of small commercial vehicles and light commercial vehicles were at 1,333 units, while those of utility vehicles, sports utility vehicles and tractors were at 1,141 units.
* GAIL INDIA: Has placed a 4.4-bln-rupee order for laying around 350 km of pipeline from Vijaipur in Madhya Pradesh to Auraiya in Uttar Pradesh.
* GANESHA ECOSPHERE: Commercial production at the company's Temra unit in Uttar Pradesh commenced on Thursday.
* GMR INFRASTRUCTURE: Subsidiary GMR Airports has entered into an agreement to buy 11% stake in GMR Hyderabad International Airport from Malaysian Airports Holding Berhad and its subsidiary MAHB (Mauritius) for around $76 mln.
* GODREJ PROPERTIES: Has sold 200,000 sq ft area in its commercial building at Bandra-Kurla complex in Mumbai for nearly 7 bln rupees so far this fiscal riding on the demand for prime rent-yielding assets.
* GRAPHITE INDIA: The board has recommended paying an interim dividend of 5 rupees a share.
* GUJARAT NRE COKE: The BSE and the National Stock Exchange will suspend trading in the equity shares of the company from Feb 12 as liquidation proceedings have started against the insolvent company.
* GVK POWER & INFRASTRUCTURE: Punjab State Power Corp has signed the power purchase agreement with the company.
* INDIAN OIL CORP: Will invest 34 bln rupees in Assam over the next five years to expand its operations by setting up new units as well as upgrading the existing ones.
* JK CEMENT: The board has approved brownfield expansion at the Mangrol unit in Rajasthan with split grinding unit in Uttar Pradesh and Gujarat having total cement production capacity of 4.2 mtpa at 20 bln rupees.
* KPIT TECHNOLOGY: VE Commercial Vehicles, a JV between Volvo Group and EICHER MOTORS, will integrate the company's indigenously developed electrification technology, Revolo, on its Skyline Pro platform.
* MASTEK: AJO Emerging Markets Small-Cap Master Fund has bought 126,203 shares or 0.5% stake in the company at 461.17 rupees a share through a bulk deal on the NSE.
* MAHINDRA & MAHINDRA: Subsidiary Mahindra First Choice Wheels has raised a new round of $15 mln.
* MANGALAM ORGANICS: Board approved buyback of 610,000 shares at 230 rupees a share for a total consideration of up to 140.30 mln rupees.
* MARUTI SUZUKI INDIA: Has received more than 30,000 bookings for its all-new generation Swift, to be launched on Feb 8 at the Auto Expo. Is keeping options open to partner with tech firms locally and play a part in parent Suzuki's future product development.
* NTPC: JAIPRAKASH POWER VENTURES has offered its Nigrie power project to the company. STATE BANK OF INDIA has offered stake sale in three stressed plants of Bajaj Lalitpur, JAYPEE INFRATECH and Jindal India Thermal to the company.
* ORCHID PHARMA: STRIDES SHASUN, Nectar Lifesciences and private equity firm Blackstone have emerged as frontrunners for the company.
* PIRAMAL ENTERPRISES: Arm Piramal Finance is looking to widen its business in tier-II cities and among non-real estate borrowers.
* REPCO HOME FINANCE: Nomura India Investment Fund Mother Fund has sold 650,000 share or 1% stake in the company at 595 rupees a share through a bulk deal on BSE.
* RELIANCE COMMUNICATIONS: Has withdrawn a petition seeking insolvency of the company filed before the National Company Law Tribunal. Has opposed the telecom regulator's directive asking the company to refund unspent balance of mobile subscribers, in the wake of discontinuation of its voice services.
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm, topped the Telecom Regulatory Authority of India's 4G mobile data speed test in November. Chairman Mukesh Ambani has announced an investment of 25 bln rupees in Assam in various sectors, including retail, petroleum, telecom, tourism and sports. Has emerged as the sole contender to acquire a part of JBF INDUSTRIES' operations in a transaction that will include its entire overseas operations and an upcoming plant in Mangalore.
* SPECIALITY RESTAURANTS: Mainland China restaurant of the company, located at Kolkata's South City Mall, has resumed commercial operations with effect from Thursday.
* SPICEJET: The Company is exploring possibilities to introduce seaplanes on Brahmaputra in Assam, making the river the largest waterway in the world.
* SYNDICATE BANK: The board has approved the issue of shares worth 28.39 bln rupees to the government on a preferential basis, the bank said.
* TATA STEEL: Has completed the acquisition of 74% stake in joint venture Bhubaneshwar Power for 2.55 bln rupees from its partner JL Power Ventures. Has announced an investment of over 14 mln pound sterling in its Hot Strip Mill at Port Talbot in South Wales. Will raise capacity at its Port Talbot site in South Wales by 5% as it announced new investment targeted at its increasing focus on high-value added steel produce.
* THYROCARE TECHNOLOGIES: The board has recommended paying an interim dividend of 5 rupees a share.
* UCO BANK: The board of directors will meet on Friday to consider and approve the proposed preferential allotment of shares worth 51.32 bln rupees to the government.
* UNION BANK: Will now raise up to 65.24 bln rupees through equity in the current financial year.
* VAKRANGEE: Has denied all allegations of manipulation in the shares of the company and said it has not received any communication from the Securities and Exchange Board of India in this regard.
* VOLTAS: Has launched window air conditioners with direct current inverter technology.
* WIPRO: Has announced a partnership with the World Economic Forum Centre for the Fourth Industrial Revolution, a San Francisco-based hub, to assist organisations in the hub to implement internet of things related technology and platform world over.
* YES BANK: Former senior official of the bank Jaideep Iyer is set to join RBL BANK as chief strategy officer next week.
