Today Stock News – 13.03.2018
* ACC: Having put their merger on hold, the company and AMBUJA CEMENTS--the two Indian units of LafargeHolcim-- said they plan to enter into a 'master supply agreement' with each other.
* ANDHRA BANK: Is the lead bank in the consortium of lenders to two Sterling group companies, and has fund- and non-fund based exposure of 11.5 bln rupees in this regard.
* BANK OF BARODA: Almost 20 South African companies linked to the Gupta family have lost a court bid to have the bank, the last lender doing business with the firms, maintain its operations in the country.
* BANK OF INDIA: Has recovered 70 bln rupees worth Standby Letters of Credit in the last two months and the balance of 20 bln rupees will be recovered in another two months.
* BATA INDIA: The Securities and Exchange Board of India has directed the company to conduct an internal inquiry into the leak of the company's earnings for Oct-Dec 2015, hours before the official release on stock exchanges.
* BHARTI AIRTEL: The board has given its nod for the company to raise up to 165 bln rupees to refinance debt and pay for spectrum liabilities.
* CASTEX TECHNOLOGIES: Standard Chartered Bank has sold 2 mln shares or 0.5% stake in the company at 4.56 rupees per share, in a bulk deal on National Stock Exchange.
* CLARIS LIFESCIENCES: Will be delisted from the BSE with effect from Mar 22.
* ENGINEERS INDIA: Board has approved payment of 2.50 rupees per share as interim dividend for 2017-18 (AprMar).
* EROS INTERNATIONAL MEDIA: Film "Bajrangi Bhaijaan" has collected more than 1.6 bln rupees within 10 days of its release in China.
* FEDERAL BANK: Has entered into a strategic partnership with two new broking partners, Celebrus Capital & Fortune Wealth Management for providing portfolio investment services to non-resident Indians.
* FORTIS HEALTHCARE: YES BANK has become the biggest shareholder of the company with a 17.31% stake in India's second-largest hospital chain, giving the private lender a possibly decisive role in an impending takeover battle.
* FUTURE ENTERPRISES: Has raised 500 mln rupees through three secured redeemable non-convertible debenture issues.
* GAYATRI PROJECTS: The company's board has approved the closure of the qualified institutional placement on Monday and set issue price of 201.07 rupees per share.
* HAVELLS INDIA: Is looking to expand its export footprint in Africa, West Asia and South-East Asia to sell products across all categories.
* HIMACHAL FUTURISTIC COMMUNICATIONS: Is planning to invest 2.6 bln rupees in its optical fibre cables unit in Hyderabad, Chairman Mahendra Pratap Shukla said.
* INDIAN OIL CORP: The company and TATA MOTORS have launched the trial demonstration of the country's first hydrogen fuel cell bus.
* INFOSYS: The company intends to voluntarily delist its American Depositary Shares from the Euronext Paris and Euronext London exchanges due to low average daily trading volume.
* INTERGLOBE AVIATION: The Directorate General of Civil Aviation has grounded 11 Airbus A320neo aircraft of the company-led IndiGo, and GoAir, powered by Pratt & Whitney's PW1100 engines, with immediate effect after repeated cases of in-flight shutdown or engine failure.
* ITC: Has entered the liquid milk segment with pouches. Plans to launch branded packaged rice this
year, entering a segment vacated by Hindustan Unilever two years ago. Reiterated that there is no plastic in Aashirvaad atta, as claimed by some 'malicious videos'.
* JAYPEE INFRATECH: No buyers have emerged to acquire embattled group Jaypee's on the-block hotel assets four months after an information memorandum was sent to select investors. Jaypee had initially asked for 25 bln rupees and the price was later brought down to 15 bln rupees.
* JET AIRWAYS INDIA: Has hired Piero Ceschia, a senior executive from Delta Airlines, known for his expertise in merger and acquisitions, ahead of a possible bid for Air India.
* JINDAL STEEL & POWER: The board will meet on Friday to issue shares by way of qualified institutional placement.
* MAHINDRA & MAHINDRA: Has launched KUV100 TRIP, a new variant of its sport utility vehicle KUV100, which is ideally suited for fleet and business owners. Has bought two floors in its own corporate headquarters Mahindra Towers in Mumbai's Worli locality from a group company of Gautam Singhania's Raymond Group.
* NATIONAL ALUMINIUM CO: Has declared an interim dividend of 9.08 bln rupees for the ongoing fiscal.
* NBCC: Has informed the board that the investigative agency established no charges against Chairman and Managing Director Anoop Kumar Mittal as the allegations against him were corroborated.
* PNB HOUSING FINANCE: The board of the company will meet on Thursday to consider raising up to 80 bln rupees through non-convertible debentures in multiple tranches.
* POWER GRID CORP OF INDIA: Has entered into a term loan facility agreement with STATE BANK OF INDIA for 50 bln rupees.
* PUNJAB NATIONAL BANK: Banks are close to reaching an accord on resolving the tussle over payments due to them by the bank against guarantees the latter issued to Nirav Modi and Mehul Choksi as well as their companies that are the subject of a 130 bln rupees fraud. Top honchos of public sector banks have come under the scanner of the Central Bureau of Investigation in connection with alleged 3.22-bln-rupee loan default case registered against Nirav Modi.
* QUESS CORP: Has completed acquisition of 10% stake in Golden Star Facilities and Services.
* RAMKY INFRASTRUCTURE: Global private equity fund KKR is in advanced talks to buy Ramky Enviro Engineers, the waste management arm of Ramky Group, for around 32 bln rupees.
* RELIANCE COMMUNICATIONS: The National Company Law Tribunal has extended its stay on the sale of towers of the company's subsidiary Reliance Infratel, till further orders, following a plea filed by HSBC Daisy (Mauritius), which holds around 5% stake in the subsidiary, citing oppression of minority shareholders.
* SHRIRAM TRANSPORT FINANCE CORP: Has raised 3.2 bln rupees through Masala bonds maturing in three years, which were allotted on Monday.
* SREI INFRASTRUCTURE FINANCE: The company will sell its entire stake in arm, Srei Infrastructure Advisors, to Srei Alternative Investment Trust's Bharat Nirman Fund for 5 mln rupees.
* STATE BANK OF INDIA: Is likely to drag five Kolkata-based companies, including Burnpur Cement and four Patni group entities, to the National Company Law Tribunal for insolvency proceedings over 32.50 bln rupees in unpaid loans.
* SUN TV NETWORK: The company's board has declared fourth interim dividend for 2017-18 (Apr-Mar) at 2.50 rupees per share.
* TATA CONSULTANCY SERVICES: Tata Sons is likely to sell up to 1.48% stake in the company through block deals.
* TEJNAKSH HEALTHCARE: The company's board of directors has approved the issue of 36 bonus shares for every 10 held in the firm.
* UNITECH: The Supreme Court has said it is open to auctioning assets of the company and its promoters to compensate homebuyers.
* VIDEOCON INDUSTRIES: Financially distressed Videocon Group may give up India rights for two global brandsPhilips in the TV business and Electrolux in appliancesafter being unable to sustain production without working capital.
* WINSOME DIAMONDS AND JEWELLERY: The Central Bureau of Investigation arrested Hasmukh Shah, a close confidant of Winsome group promoter Jatin Mehta and a former director of Winsome group company Forever Precious Jewellery and Diamonds. The company and Forever owe 68 bln rupees to 15 banks in India.
* WIPRO: Elliott Management has taken a tiny stake in the company, highlighting its interest in Indian information technology companies.
* ZEE ENTERTAINMENT ENTERPRISES: Has confirmed that it filed a complaint against DEN NETWORKS to the Information and Broadcasting Ministry for violating Digital Addressable System regulations and licensing conditions.
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* ANDHRA BANK: Is the lead bank in the consortium of lenders to two Sterling group companies, and has fund- and non-fund based exposure of 11.5 bln rupees in this regard.
* BANK OF BARODA: Almost 20 South African companies linked to the Gupta family have lost a court bid to have the bank, the last lender doing business with the firms, maintain its operations in the country.
* BANK OF INDIA: Has recovered 70 bln rupees worth Standby Letters of Credit in the last two months and the balance of 20 bln rupees will be recovered in another two months.
* BATA INDIA: The Securities and Exchange Board of India has directed the company to conduct an internal inquiry into the leak of the company's earnings for Oct-Dec 2015, hours before the official release on stock exchanges.
* BHARTI AIRTEL: The board has given its nod for the company to raise up to 165 bln rupees to refinance debt and pay for spectrum liabilities.
* CASTEX TECHNOLOGIES: Standard Chartered Bank has sold 2 mln shares or 0.5% stake in the company at 4.56 rupees per share, in a bulk deal on National Stock Exchange.
* CLARIS LIFESCIENCES: Will be delisted from the BSE with effect from Mar 22.
* ENGINEERS INDIA: Board has approved payment of 2.50 rupees per share as interim dividend for 2017-18 (AprMar).
* EROS INTERNATIONAL MEDIA: Film "Bajrangi Bhaijaan" has collected more than 1.6 bln rupees within 10 days of its release in China.
* FEDERAL BANK: Has entered into a strategic partnership with two new broking partners, Celebrus Capital & Fortune Wealth Management for providing portfolio investment services to non-resident Indians.
* FORTIS HEALTHCARE: YES BANK has become the biggest shareholder of the company with a 17.31% stake in India's second-largest hospital chain, giving the private lender a possibly decisive role in an impending takeover battle.
* FUTURE ENTERPRISES: Has raised 500 mln rupees through three secured redeemable non-convertible debenture issues.
* GAYATRI PROJECTS: The company's board has approved the closure of the qualified institutional placement on Monday and set issue price of 201.07 rupees per share.
* HAVELLS INDIA: Is looking to expand its export footprint in Africa, West Asia and South-East Asia to sell products across all categories.
* HIMACHAL FUTURISTIC COMMUNICATIONS: Is planning to invest 2.6 bln rupees in its optical fibre cables unit in Hyderabad, Chairman Mahendra Pratap Shukla said.
* INDIAN OIL CORP: The company and TATA MOTORS have launched the trial demonstration of the country's first hydrogen fuel cell bus.
* INFOSYS: The company intends to voluntarily delist its American Depositary Shares from the Euronext Paris and Euronext London exchanges due to low average daily trading volume.
* INTERGLOBE AVIATION: The Directorate General of Civil Aviation has grounded 11 Airbus A320neo aircraft of the company-led IndiGo, and GoAir, powered by Pratt & Whitney's PW1100 engines, with immediate effect after repeated cases of in-flight shutdown or engine failure.
* ITC: Has entered the liquid milk segment with pouches. Plans to launch branded packaged rice this
year, entering a segment vacated by Hindustan Unilever two years ago. Reiterated that there is no plastic in Aashirvaad atta, as claimed by some 'malicious videos'.
* JAYPEE INFRATECH: No buyers have emerged to acquire embattled group Jaypee's on the-block hotel assets four months after an information memorandum was sent to select investors. Jaypee had initially asked for 25 bln rupees and the price was later brought down to 15 bln rupees.
* JET AIRWAYS INDIA: Has hired Piero Ceschia, a senior executive from Delta Airlines, known for his expertise in merger and acquisitions, ahead of a possible bid for Air India.
* JINDAL STEEL & POWER: The board will meet on Friday to issue shares by way of qualified institutional placement.
* MAHINDRA & MAHINDRA: Has launched KUV100 TRIP, a new variant of its sport utility vehicle KUV100, which is ideally suited for fleet and business owners. Has bought two floors in its own corporate headquarters Mahindra Towers in Mumbai's Worli locality from a group company of Gautam Singhania's Raymond Group.
* NATIONAL ALUMINIUM CO: Has declared an interim dividend of 9.08 bln rupees for the ongoing fiscal.
* NBCC: Has informed the board that the investigative agency established no charges against Chairman and Managing Director Anoop Kumar Mittal as the allegations against him were corroborated.
* PNB HOUSING FINANCE: The board of the company will meet on Thursday to consider raising up to 80 bln rupees through non-convertible debentures in multiple tranches.
* POWER GRID CORP OF INDIA: Has entered into a term loan facility agreement with STATE BANK OF INDIA for 50 bln rupees.
* PUNJAB NATIONAL BANK: Banks are close to reaching an accord on resolving the tussle over payments due to them by the bank against guarantees the latter issued to Nirav Modi and Mehul Choksi as well as their companies that are the subject of a 130 bln rupees fraud. Top honchos of public sector banks have come under the scanner of the Central Bureau of Investigation in connection with alleged 3.22-bln-rupee loan default case registered against Nirav Modi.
* QUESS CORP: Has completed acquisition of 10% stake in Golden Star Facilities and Services.
* RAMKY INFRASTRUCTURE: Global private equity fund KKR is in advanced talks to buy Ramky Enviro Engineers, the waste management arm of Ramky Group, for around 32 bln rupees.
* RELIANCE COMMUNICATIONS: The National Company Law Tribunal has extended its stay on the sale of towers of the company's subsidiary Reliance Infratel, till further orders, following a plea filed by HSBC Daisy (Mauritius), which holds around 5% stake in the subsidiary, citing oppression of minority shareholders.
* SHRIRAM TRANSPORT FINANCE CORP: Has raised 3.2 bln rupees through Masala bonds maturing in three years, which were allotted on Monday.
* SREI INFRASTRUCTURE FINANCE: The company will sell its entire stake in arm, Srei Infrastructure Advisors, to Srei Alternative Investment Trust's Bharat Nirman Fund for 5 mln rupees.
* STATE BANK OF INDIA: Is likely to drag five Kolkata-based companies, including Burnpur Cement and four Patni group entities, to the National Company Law Tribunal for insolvency proceedings over 32.50 bln rupees in unpaid loans.
* SUN TV NETWORK: The company's board has declared fourth interim dividend for 2017-18 (Apr-Mar) at 2.50 rupees per share.
* TATA CONSULTANCY SERVICES: Tata Sons is likely to sell up to 1.48% stake in the company through block deals.
* TEJNAKSH HEALTHCARE: The company's board of directors has approved the issue of 36 bonus shares for every 10 held in the firm.
* UNITECH: The Supreme Court has said it is open to auctioning assets of the company and its promoters to compensate homebuyers.
* VIDEOCON INDUSTRIES: Financially distressed Videocon Group may give up India rights for two global brandsPhilips in the TV business and Electrolux in appliancesafter being unable to sustain production without working capital.
* WINSOME DIAMONDS AND JEWELLERY: The Central Bureau of Investigation arrested Hasmukh Shah, a close confidant of Winsome group promoter Jatin Mehta and a former director of Winsome group company Forever Precious Jewellery and Diamonds. The company and Forever owe 68 bln rupees to 15 banks in India.
* WIPRO: Elliott Management has taken a tiny stake in the company, highlighting its interest in Indian information technology companies.
* ZEE ENTERTAINMENT ENTERPRISES: Has confirmed that it filed a complaint against DEN NETWORKS to the Information and Broadcasting Ministry for violating Digital Addressable System regulations and licensing conditions.
