Today Stock News – 08.02.2018
* ABG SHIPYARD: The bankruptcy court has allowed the auction of the properties of arm Western India Shipyard, one of the 12 large cases referred by the RBI for early bankruptcy proceedings.
* ASIAN PAINTS: Life Insurance Corp of India purchased 19.23 mln shares or 2% stake in the company through the open market between May 19, 2017, and Feb 6.
* AUROBINDO PHARMA: The board has decided to pay interim dividend of 1 rupee per share.
* BHARTI AIRTEL: Has entered into a strategic partnership with messaging app Hike to embed its software, Total, in the company's 'Mera Pehla Smartphone' initiative.
* BLUE STAR: Has plans to launch six new models of water purifiers under two new series in Jan-Mar, Chief Financial Officer Neeraj Basur has said.
* BOSCH: Plans to hire as many as 10,000 engineers over the next few years at its research and development centre in India.
* CG POWER AND INDUSTRIAL SOLUTIONS: Has bagged an order worth 1.07 bln rupees from Energy Efficiency Services for low voltage motors.
* CIPLA: Is in advanced discussions to acquire one-two specialty molecules in neurology and respiratory therapies in the US and expects these purchases to be at $100 mln-$200 mln or more. The company and Alkem Pharma are both foraying into the antidiabetic drug market in the country through partnerships with multinationals for the highly fought over gliptin class of oral agents.
* CLARIS LIFESCIENCES: The delisting offer of the company's shares will open on Monday and close on Feb 20.
* CORPORATION BANK: The board will meet on Monday to consider raising up to 21.87 bln rupees through the issue of shares on a preferential basis to the government.
* ESAB INDIA: The company's board has approved the acquisition of the welding business of Sandvik Asia, Pune.
* FDC: The company will buy back up to 3.43 mln shares at an offer price of 350 rupees per share.
* GAIL INDIA: Oil Minister Dharmendra Pradhan has said INDIAN OIL CORP and BHARAT PETROLEUM CORP are both keen to acquire the company.
* GAMMON INDIA: In a bid to recover dues, Joint Forum of Lenders led by ICICI BANK, has put the debt-laden company on the block.
* HEXAWARE TECHNOLOGIES: The board has recommended interim dividend of 1 rupee per share.
* IDEA CELLULAR: Has suspended its interconnect services with Aircel, due to non-payment of dues.
* INTERGLOBE AVIATION: Is set to upgrade a part of its existing order for 250 A320neos to A321LRs.
* IRB INFRASTRUCTURE DEVELOPERS: The board has decided to pay interim dividend of 2.50 rupees per share. Expects to win orders worth 100 bln rupees in 2018, as the government increases spending on infrastructure, Group Chief Financial Officer Anil Yadav said.
* JAYPEE INFRATECH: The insolvency resolution process of the company drew bids from about 20 companies, including the JSW Group, the Adani Group, Deutsche Bank, and the holding entity of the realtor and road-operator.
* JBM AUTO: Launched its new electric bus 'Eco Life' in the range of 20-30 mln rupees.
* JSW STEEL: Has said that as part of its long-term strategy, it continues to consider opportunities to acquire stressed assets which are under insolvency resolution, but did not name any specific target. Has offered 300 bln rupees to take over debt-laden BHUSHAN STEEL, 50 bln rupees more than rival bidder TATA STEEL's offer.
* KANPUR PLASTIPACK: The company's board has approved the allotment of 2.39 mln shares on a rights basis at an issue price of 75 rupees a share.
* KARNATAKA BANK: Has increased interest rates on domestic term deposits on two slabs with effect from Jan 30.
* MAHINDRA & MAHINDRA: Unveiled six electric vehicles and the new G4 Rexton premium sport utility vehicle, among other models, at the ongoing Auto Expo here. Piramal group and the company's group have expressed interest in buying Sahara Group's Aamby Valley property and were conducting due diligence, the Supreme Court-appointed liquidator told the apex court on Wednesday.
* MAHINDRA LIFESPACE DEVELOPERS: The Piramal Group and the company—have shown interest in purchasing Sahara's Aamby Valley properties worth 340 bln rupees in Pune district, the Supreme Court was informed.
* MARUTI SUZUKI INDIA: Unveiled the concept model of its electric compact sport utility vehicle e-SURVIVOR at the Auto Expo being held here. Chairman R.C. Bhargava said switching to all-electric vehicles would not be the right trajectory to reduce emissions and instead, sought a mix of electric, hybrid and conventional cars to create the right balance. Parent company Suzuki Motor Corp has lined up an investment of about $3 bln in the Indian market over the next three years.
* OIL AND NATURAL GAS CORP: The Union Cabinet has approved the auction of 60 "unmonetised" discovered small fields that belonged to the company and OIL INDIA.
* PRESTIGE ESTATES GROUP: Has agreed to set up a 25-bln-rupee platform with HDFC Capital Advisors which will fund real estate projects in the mid-income housing segment.
* PIRAMAL ENTERPRISES: Has entered into a joint venture agreement with Bain Capital Mauritius.
* PUNJAB & SIND BANK: The bank's board will meet on Tuesday to consider raising equity capital.
* SREI INFRASTRUCTURE FINANCE: Plans to raise around 20 bln rupees through a public issue of non-convertible debentures, subscription for which will open on Friday.
* SHANKARA BUILDING PRODUCTS: Smaller Cap World Fund has sold 417,799 shares or 1.8% stake in the company at 1,675 rupees per share in a bulk deal on the BSE.
* SHRIRAM TRANSPORT FINANCE: Has completed sale of stake in wholly-owned subsidiary Shriram Automall India to MXC Solutions India.
* SML Isuzu: Unveiled its new range of Global Series trucks, which will be available nationwide from July.
* SOUTHERN PETROCHEMICAL INDUSTRIAL CORP: Board has agreed to TUTICORIN ALKALI CHEMICALS AND FERTILISERS' proposal for conversion of its debt payable to the company into 46.85 mln shares.
* SRF: The board has decided to pay interim dividend of 6 rupees per share.
* STAR CEMENT: Plans to increase its annual cement production capacity by more than a third to 5.8 mln tn over the next two years, and will invest 3.5-4.0 bln rupees on this front.
* TORRENT POWER: Chairman Sudhir Mehta's son Jinal Mehta's appointment as managing director was approved by the Board of Directors of the company.
* UNION BANK: The board of the bank has approved the issue of shares worth 45.24 bln rupees to the government on a preferential basis.
* UTTAM GALVA STEELS: The National Company Law Tribunal has deferred the hearing on an insolvency petition filed by STATE BANK OF INDIA against the company to Feb 19. ArcelorMittal has sold its entire 29% stake in the company to Sainath Trading Co.
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* ASIAN PAINTS: Life Insurance Corp of India purchased 19.23 mln shares or 2% stake in the company through the open market between May 19, 2017, and Feb 6.
* AUROBINDO PHARMA: The board has decided to pay interim dividend of 1 rupee per share.
* BHARTI AIRTEL: Has entered into a strategic partnership with messaging app Hike to embed its software, Total, in the company's 'Mera Pehla Smartphone' initiative.
* BLUE STAR: Has plans to launch six new models of water purifiers under two new series in Jan-Mar, Chief Financial Officer Neeraj Basur has said.
* BOSCH: Plans to hire as many as 10,000 engineers over the next few years at its research and development centre in India.
* CG POWER AND INDUSTRIAL SOLUTIONS: Has bagged an order worth 1.07 bln rupees from Energy Efficiency Services for low voltage motors.
* CIPLA: Is in advanced discussions to acquire one-two specialty molecules in neurology and respiratory therapies in the US and expects these purchases to be at $100 mln-$200 mln or more. The company and Alkem Pharma are both foraying into the antidiabetic drug market in the country through partnerships with multinationals for the highly fought over gliptin class of oral agents.
* CLARIS LIFESCIENCES: The delisting offer of the company's shares will open on Monday and close on Feb 20.
* CORPORATION BANK: The board will meet on Monday to consider raising up to 21.87 bln rupees through the issue of shares on a preferential basis to the government.
* ESAB INDIA: The company's board has approved the acquisition of the welding business of Sandvik Asia, Pune.
* FDC: The company will buy back up to 3.43 mln shares at an offer price of 350 rupees per share.
* GAIL INDIA: Oil Minister Dharmendra Pradhan has said INDIAN OIL CORP and BHARAT PETROLEUM CORP are both keen to acquire the company.
* GAMMON INDIA: In a bid to recover dues, Joint Forum of Lenders led by ICICI BANK, has put the debt-laden company on the block.
* HEXAWARE TECHNOLOGIES: The board has recommended interim dividend of 1 rupee per share.
* IDEA CELLULAR: Has suspended its interconnect services with Aircel, due to non-payment of dues.
* INTERGLOBE AVIATION: Is set to upgrade a part of its existing order for 250 A320neos to A321LRs.
* IRB INFRASTRUCTURE DEVELOPERS: The board has decided to pay interim dividend of 2.50 rupees per share. Expects to win orders worth 100 bln rupees in 2018, as the government increases spending on infrastructure, Group Chief Financial Officer Anil Yadav said.
* JAYPEE INFRATECH: The insolvency resolution process of the company drew bids from about 20 companies, including the JSW Group, the Adani Group, Deutsche Bank, and the holding entity of the realtor and road-operator.
* JBM AUTO: Launched its new electric bus 'Eco Life' in the range of 20-30 mln rupees.
* JSW STEEL: Has said that as part of its long-term strategy, it continues to consider opportunities to acquire stressed assets which are under insolvency resolution, but did not name any specific target. Has offered 300 bln rupees to take over debt-laden BHUSHAN STEEL, 50 bln rupees more than rival bidder TATA STEEL's offer.
* KANPUR PLASTIPACK: The company's board has approved the allotment of 2.39 mln shares on a rights basis at an issue price of 75 rupees a share.
* KARNATAKA BANK: Has increased interest rates on domestic term deposits on two slabs with effect from Jan 30.
* MAHINDRA & MAHINDRA: Unveiled six electric vehicles and the new G4 Rexton premium sport utility vehicle, among other models, at the ongoing Auto Expo here. Piramal group and the company's group have expressed interest in buying Sahara Group's Aamby Valley property and were conducting due diligence, the Supreme Court-appointed liquidator told the apex court on Wednesday.
* MAHINDRA LIFESPACE DEVELOPERS: The Piramal Group and the company—have shown interest in purchasing Sahara's Aamby Valley properties worth 340 bln rupees in Pune district, the Supreme Court was informed.
* MARUTI SUZUKI INDIA: Unveiled the concept model of its electric compact sport utility vehicle e-SURVIVOR at the Auto Expo being held here. Chairman R.C. Bhargava said switching to all-electric vehicles would not be the right trajectory to reduce emissions and instead, sought a mix of electric, hybrid and conventional cars to create the right balance. Parent company Suzuki Motor Corp has lined up an investment of about $3 bln in the Indian market over the next three years.
* OIL AND NATURAL GAS CORP: The Union Cabinet has approved the auction of 60 "unmonetised" discovered small fields that belonged to the company and OIL INDIA.
* PRESTIGE ESTATES GROUP: Has agreed to set up a 25-bln-rupee platform with HDFC Capital Advisors which will fund real estate projects in the mid-income housing segment.
* PIRAMAL ENTERPRISES: Has entered into a joint venture agreement with Bain Capital Mauritius.
* PUNJAB & SIND BANK: The bank's board will meet on Tuesday to consider raising equity capital.
* SREI INFRASTRUCTURE FINANCE: Plans to raise around 20 bln rupees through a public issue of non-convertible debentures, subscription for which will open on Friday.
* SHANKARA BUILDING PRODUCTS: Smaller Cap World Fund has sold 417,799 shares or 1.8% stake in the company at 1,675 rupees per share in a bulk deal on the BSE.
* SHRIRAM TRANSPORT FINANCE: Has completed sale of stake in wholly-owned subsidiary Shriram Automall India to MXC Solutions India.
* SML Isuzu: Unveiled its new range of Global Series trucks, which will be available nationwide from July.
* SOUTHERN PETROCHEMICAL INDUSTRIAL CORP: Board has agreed to TUTICORIN ALKALI CHEMICALS AND FERTILISERS' proposal for conversion of its debt payable to the company into 46.85 mln shares.
* SRF: The board has decided to pay interim dividend of 6 rupees per share.
* STAR CEMENT: Plans to increase its annual cement production capacity by more than a third to 5.8 mln tn over the next two years, and will invest 3.5-4.0 bln rupees on this front.
* TORRENT POWER: Chairman Sudhir Mehta's son Jinal Mehta's appointment as managing director was approved by the Board of Directors of the company.
* UNION BANK: The board of the bank has approved the issue of shares worth 45.24 bln rupees to the government on a preferential basis.
* UTTAM GALVA STEELS: The National Company Law Tribunal has deferred the hearing on an insolvency petition filed by STATE BANK OF INDIA against the company to Feb 19. ArcelorMittal has sold its entire 29% stake in the company to Sainath Trading Co.
