Today Stock News – 17.05.2018
* AXIS BANK: Has put on sale a 600-MW thermal power plant in Madhya Pradesh set up by the Avantha Group-owned Jhabua Power.
* BHARTI AIRTEL: Plans to push its home offerings in new cities and also expand its network coverage within existing cities ahead of a commercial launch by Reliance Jio Infocomm later this year.
* BHARTI INFRATEL: The company and Indus Towers have approached the Competition Commission of India for an approval on their proposed merge
* HINDUSTAN UNILEVER: The Delhi High Court disposed of a petition filed by herbal beauty products maker Lotus Herbals against an advertisement by the company meant for "internal use" that allegedly disparaged its sun screen lotion.
* INDITRADE CAPITAL: Plans to foray into housing finance segment with focus on promoting affordable housing.
* INFOSYS: Wholly-owned subsidiary EdgeVerve Systems has formed Finacle Trade Connect, a blockchainbased trade solution, with seven banks.
* JAIPRAKASH ASSOCIATES: Supreme Court asked the company to deposit 10 bln rupees by Jun 15, failing which insolvency proceedings against its subsidiary JAYPEE INFRATECH shall continue.
* JK LAKSHMI CEMENT: Has approved raising up to 5 bln rupees through securities.
* JSW STEEL: Board has approved raising up to 40 bln rupees through non-convertible debentures with convertible warrants, and also approved to raise up to 40 bln rupees through shares, debentures, and other securities, through qualified institutional placement. The company has set an aim to raise its crude steel production by 3% to 16.75 mln tn in 2018-19 (Apr-Mar).
* MUTHOOT FINANCE: Board has approved raising 60 bln rupees through public issue of non-convertible debentures in one or more tranches.
* PINCON SPIRIT: SEBI said it will continue its forensic audit of the company and keep in place the trading restrictions on the stock, which were imposed after the liquor maker was named in a list of shell companies in August.
* PUNJAB NATIONAL BANK: The Central Bureau of Investigation filed a supplementary chargesheet against Gitanjali Group Chairman Mehul Choksi and his company in connection with the 130-bln-rupee banking fraud at the bank, Press Trust of India reported.
* RELIANCE COMMUNICATIONS: Sistema Shyam Teleservices has sold 27.7 mln shares or 1% stake in the company at 10.57 rupees each, in a bulk deal on the National Stock Exchange. Will challenge National Company Law Tribunal's move to admit Ericsson's petition if it jeopardises the resolution plan approved by a clutch of domestic lenders to settle dues of close to 450 bln rupees.
* RUCHI SOYA INDUSTRIES: GODREJ AGROVET has joined a few other bidders, including Patanjali Ayurved group and Adani Wilmar, for acquiring the oil palm business of the company, which is facing insolvency proceedings.
* STATE BANK OF INDIA: SBI Card is looking to continue growing at a 40% compound annual growth rate in the current financial year on rise in card issuance and total spends.
* TATA STEEL: Has completed the pension restructuring process of its UK subsidiary with 69% members transferred to the new scheme. JSW STEEL and the company expect the current traction in demand for steel to sustain, and prices are likely to stabilise at the current high levels.
* TRANSPORT CORP OF INDIA: The board has approved raising up to 3 bln rupees through securities. The board has given an in-principle approval to divest cold chain unit.
* UTTAM GALVA STEELS: The company's promoters said they are unaware of the reported 'unsolicited' move by ArcelorMittal to transfer about 70 bln rupees to STATE BANK OF INDIA to clear overdue loans of the company.
* YES BANK: Seeks to raise $1 bln (about 67 bln rupees) by selling shares by way of a public issue,
preferential issue or issuance of ADR and GDR.
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* BHARTI AIRTEL: Plans to push its home offerings in new cities and also expand its network coverage within existing cities ahead of a commercial launch by Reliance Jio Infocomm later this year.
* BHARTI INFRATEL: The company and Indus Towers have approached the Competition Commission of India for an approval on their proposed merge
* HINDUSTAN UNILEVER: The Delhi High Court disposed of a petition filed by herbal beauty products maker Lotus Herbals against an advertisement by the company meant for "internal use" that allegedly disparaged its sun screen lotion.
* INDITRADE CAPITAL: Plans to foray into housing finance segment with focus on promoting affordable housing.
* INFOSYS: Wholly-owned subsidiary EdgeVerve Systems has formed Finacle Trade Connect, a blockchainbased trade solution, with seven banks.
* JAIPRAKASH ASSOCIATES: Supreme Court asked the company to deposit 10 bln rupees by Jun 15, failing which insolvency proceedings against its subsidiary JAYPEE INFRATECH shall continue.
* JK LAKSHMI CEMENT: Has approved raising up to 5 bln rupees through securities.
* JSW STEEL: Board has approved raising up to 40 bln rupees through non-convertible debentures with convertible warrants, and also approved to raise up to 40 bln rupees through shares, debentures, and other securities, through qualified institutional placement. The company has set an aim to raise its crude steel production by 3% to 16.75 mln tn in 2018-19 (Apr-Mar).
* MUTHOOT FINANCE: Board has approved raising 60 bln rupees through public issue of non-convertible debentures in one or more tranches.
* PINCON SPIRIT: SEBI said it will continue its forensic audit of the company and keep in place the trading restrictions on the stock, which were imposed after the liquor maker was named in a list of shell companies in August.
* PUNJAB NATIONAL BANK: The Central Bureau of Investigation filed a supplementary chargesheet against Gitanjali Group Chairman Mehul Choksi and his company in connection with the 130-bln-rupee banking fraud at the bank, Press Trust of India reported.
* RELIANCE COMMUNICATIONS: Sistema Shyam Teleservices has sold 27.7 mln shares or 1% stake in the company at 10.57 rupees each, in a bulk deal on the National Stock Exchange. Will challenge National Company Law Tribunal's move to admit Ericsson's petition if it jeopardises the resolution plan approved by a clutch of domestic lenders to settle dues of close to 450 bln rupees.
* RUCHI SOYA INDUSTRIES: GODREJ AGROVET has joined a few other bidders, including Patanjali Ayurved group and Adani Wilmar, for acquiring the oil palm business of the company, which is facing insolvency proceedings.
* STATE BANK OF INDIA: SBI Card is looking to continue growing at a 40% compound annual growth rate in the current financial year on rise in card issuance and total spends.
* TATA STEEL: Has completed the pension restructuring process of its UK subsidiary with 69% members transferred to the new scheme. JSW STEEL and the company expect the current traction in demand for steel to sustain, and prices are likely to stabilise at the current high levels.
* TRANSPORT CORP OF INDIA: The board has approved raising up to 3 bln rupees through securities. The board has given an in-principle approval to divest cold chain unit.
* UTTAM GALVA STEELS: The company's promoters said they are unaware of the reported 'unsolicited' move by ArcelorMittal to transfer about 70 bln rupees to STATE BANK OF INDIA to clear overdue loans of the company.
* YES BANK: Seeks to raise $1 bln (about 67 bln rupees) by selling shares by way of a public issue,
preferential issue or issuance of ADR and GDR.
