Today Stock News – 18.05.2018
* ACTION CONSTRUCTION EQUIPMENT: The company's shareholders will meet on Jun 23 pursuant to the National Company Law Tribunal's order regarding the amalgamation between Frested and the company.
* BHARTI AIRTEL: Has urged the Delhi High Court to dismiss the suit of Reliance Jio against its
advertisements offering "live and free access" to IPL-2018 coverage.
* BRITANNIA INDUSTRIES: Will focus on launching premium products in 2018-19 (Apr-Mar) so as to make it a "benchmark year for premiumisation", Managing Director Varun Berry said.
* CENTRAL BANK OF INDIA: In 2017-18 (Apr-Mar), the bank provided additional 14.35 bln rupees for accounts referred to the National Company Law Tribunal, with 7.25 bln rupees of this being provided in the quarter under review. The bank will provide 6.27 bln rupees for such accounts in Apr-Jun.
* DEWAN HOUSING FINANCE CORP: Plans to raise up to 120 bln rupees through a public issue of nonconvertible debentures. Has plans to raise more than 500 bln rupees in the current fiscal, a 20% increase over its capital raising plans last year. It had raised 350 bln rupees last year.
* DHANLAXMI BANK: The Reserve Bank of India has stalled the appointment of Arun Rao M.G. as independent director to the board of the bank just a day after his appointment. This will increase investor concerns over the lender which has been under stress over the past seven years.
* FORTIS HEALTHCARE: The race to acquire the company has become more competitive now as IHH Healthcare Berhad has extended till May 29 its offer to acquire stake worth 40 bln rupees, subject to due diligence, after the deadline expired on Tuesday. Manipal Hospitals' Ranjan Pai has questioned the company board and expert advisory committee on their process of choosing a suitor for the cash-strapped hospital network.
* FUTURE ENTERPRISES: Central Departmental Stores, a promoter of the company, has bought 4.9% stake or 22.25 mln shares in the company at 39.20 rupees a share through a bulk deal on BSE. Cedar Support Services has sold nearly 14% stake in the company for 2.43 bln rupees through open market transactions.
* GODREJ AGROVET: In line with its aim to increase the sales of value-added products, the company's subsidiary Creamline Dairy Products plans to invest 4 bln rupees to set up three new milk processing plants in the next three years.
* GUJARAT STATE FERTILIZERS & CHEMICALS: The company has signed a memorandum of
understanding with Australia-based Centrex Metals to purchase 300,000 tn of rock phosphate per annum for 10 years.
* IDFC BANK: ePayLater has tied up with the bank to provide BHIM-Unified Payment Interface digital credit card payment to individuals.
* INDIABULLS HOUSING FINANCE: Plans to raise 2 bln rupees through bonds maturing in one year and one day, at a coupon of 8.68%.
* INDIAN OVERSEAS BANK: Will recall its Basel III-compliant additional tier-I bonds worth 10 bln rupees on Jun 13, ahead of the scheduled call date of Feb 4, 2020, as it has been placed under the Reserve Bank of India's prompt corrective action plan.
* JAYPEE INFRATECH: A bankruptcy court said the transaction by which 758 acres had been used to secure loans for its parent JAIPRAKASH ASSOCIATES was fraudulent, preferential and undervalued.
* JET AIRWAYS INDIA: Nikos Kardassis, the two-time chief executive officer of the company, has returned to the airline in an advisory role.
* JK PAPER: The committee of creditors have approved a plan submitted by the company for insolvency resolution of SIRPUR PAPER MILLS.
* MAHANAGAR TELEPHONE NIGAM: The government has confirmed appointment of P.K. Purwar as chairman and managing director of the company.
* MINDA CORP: The company's qualified institutional placement closed today at an issue price of 173.47 rupees per share.
* PUNJAB NATIONAL BANK: Ratings agency CRISIL has put the outlook on the bank's tier-II, perpetual bonds and infrastructure bonds on "watch with negative implications" from earlier "rating watch with developing implications", after the bank posted its biggest-ever quarterly loss by an Indian bank of 134.17 bln rupees for Jan-Mar.
* PUNJAB & SIND BANK: The normal functioning of branches of the bank may get affected as a certain section of its employees may participate in United Forum of Bank Unions' strike proposed on May 30-31.
* RELIANCE INDUSTRIES: Reliance Jio Infocomm, a subsidiary of the company, has said it will launch entertainment-based games in India partnering Screenz Cross Media.
* RELIANCE POWER: Has sold its 4,000-MW Tilaiya ultra mega power project, which is still incomplete, to Jharkhand Urja Vikas Nigam for 1.12 bln rupees.
* SYNGENE INTERNATIONAL: Promoter BIOCON sold 1.88% stake or 3.77 mln shares of the company through open market on Wednesday.
* TATA STEEL: Bamnipal Steel, a subsidiary of the company, has raised over 50 bln rupees by tapping the commercial paper market. The company will use the proceeds to fund its 352-bln-rupee acquisition of BHUSHAN STEEL.
* TITAGARH WAGONS: The company has completed construction of fuel carrying vessel for the Indian Navy.
* UCO BANK: The Supreme Court has directed Amrapali to deposit 2.50 bln rupees by Jun 15 with the bank.
* VEDANTA: Has raised prices of aluminium ingots, wire rods and billets by nearly 2% with effect from Wednesday.
* VIJAYA BANK: The bank's board will meet on Sunday to discuss capital-raising plan under Basel-III for 2018-19 (Apr-Mar).
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* BHARTI AIRTEL: Has urged the Delhi High Court to dismiss the suit of Reliance Jio against its
advertisements offering "live and free access" to IPL-2018 coverage.
* BRITANNIA INDUSTRIES: Will focus on launching premium products in 2018-19 (Apr-Mar) so as to make it a "benchmark year for premiumisation", Managing Director Varun Berry said.
* CENTRAL BANK OF INDIA: In 2017-18 (Apr-Mar), the bank provided additional 14.35 bln rupees for accounts referred to the National Company Law Tribunal, with 7.25 bln rupees of this being provided in the quarter under review. The bank will provide 6.27 bln rupees for such accounts in Apr-Jun.
* DEWAN HOUSING FINANCE CORP: Plans to raise up to 120 bln rupees through a public issue of nonconvertible debentures. Has plans to raise more than 500 bln rupees in the current fiscal, a 20% increase over its capital raising plans last year. It had raised 350 bln rupees last year.
* DHANLAXMI BANK: The Reserve Bank of India has stalled the appointment of Arun Rao M.G. as independent director to the board of the bank just a day after his appointment. This will increase investor concerns over the lender which has been under stress over the past seven years.
* FORTIS HEALTHCARE: The race to acquire the company has become more competitive now as IHH Healthcare Berhad has extended till May 29 its offer to acquire stake worth 40 bln rupees, subject to due diligence, after the deadline expired on Tuesday. Manipal Hospitals' Ranjan Pai has questioned the company board and expert advisory committee on their process of choosing a suitor for the cash-strapped hospital network.
* FUTURE ENTERPRISES: Central Departmental Stores, a promoter of the company, has bought 4.9% stake or 22.25 mln shares in the company at 39.20 rupees a share through a bulk deal on BSE. Cedar Support Services has sold nearly 14% stake in the company for 2.43 bln rupees through open market transactions.
* GODREJ AGROVET: In line with its aim to increase the sales of value-added products, the company's subsidiary Creamline Dairy Products plans to invest 4 bln rupees to set up three new milk processing plants in the next three years.
* GUJARAT STATE FERTILIZERS & CHEMICALS: The company has signed a memorandum of
understanding with Australia-based Centrex Metals to purchase 300,000 tn of rock phosphate per annum for 10 years.
* IDFC BANK: ePayLater has tied up with the bank to provide BHIM-Unified Payment Interface digital credit card payment to individuals.
* INDIABULLS HOUSING FINANCE: Plans to raise 2 bln rupees through bonds maturing in one year and one day, at a coupon of 8.68%.
* INDIAN OVERSEAS BANK: Will recall its Basel III-compliant additional tier-I bonds worth 10 bln rupees on Jun 13, ahead of the scheduled call date of Feb 4, 2020, as it has been placed under the Reserve Bank of India's prompt corrective action plan.
* JAYPEE INFRATECH: A bankruptcy court said the transaction by which 758 acres had been used to secure loans for its parent JAIPRAKASH ASSOCIATES was fraudulent, preferential and undervalued.
* JET AIRWAYS INDIA: Nikos Kardassis, the two-time chief executive officer of the company, has returned to the airline in an advisory role.
* JK PAPER: The committee of creditors have approved a plan submitted by the company for insolvency resolution of SIRPUR PAPER MILLS.
* MAHANAGAR TELEPHONE NIGAM: The government has confirmed appointment of P.K. Purwar as chairman and managing director of the company.
* MINDA CORP: The company's qualified institutional placement closed today at an issue price of 173.47 rupees per share.
* PUNJAB NATIONAL BANK: Ratings agency CRISIL has put the outlook on the bank's tier-II, perpetual bonds and infrastructure bonds on "watch with negative implications" from earlier "rating watch with developing implications", after the bank posted its biggest-ever quarterly loss by an Indian bank of 134.17 bln rupees for Jan-Mar.
* PUNJAB & SIND BANK: The normal functioning of branches of the bank may get affected as a certain section of its employees may participate in United Forum of Bank Unions' strike proposed on May 30-31.
* RELIANCE INDUSTRIES: Reliance Jio Infocomm, a subsidiary of the company, has said it will launch entertainment-based games in India partnering Screenz Cross Media.
* RELIANCE POWER: Has sold its 4,000-MW Tilaiya ultra mega power project, which is still incomplete, to Jharkhand Urja Vikas Nigam for 1.12 bln rupees.
* SYNGENE INTERNATIONAL: Promoter BIOCON sold 1.88% stake or 3.77 mln shares of the company through open market on Wednesday.
* TATA STEEL: Bamnipal Steel, a subsidiary of the company, has raised over 50 bln rupees by tapping the commercial paper market. The company will use the proceeds to fund its 352-bln-rupee acquisition of BHUSHAN STEEL.
* TITAGARH WAGONS: The company has completed construction of fuel carrying vessel for the Indian Navy.
* UCO BANK: The Supreme Court has directed Amrapali to deposit 2.50 bln rupees by Jun 15 with the bank.
* VEDANTA: Has raised prices of aluminium ingots, wire rods and billets by nearly 2% with effect from Wednesday.
* VIJAYA BANK: The bank's board will meet on Sunday to discuss capital-raising plan under Basel-III for 2018-19 (Apr-Mar).
