Today Stock News – 22.05.2018
* ALLAHABAD BANK: The government has already written to the Banks Board Bureau to shortlist candidates for the vacant post of managing director and chief executive officer at the bank.
* ASHOK LEYLAND: Will roll out three heavy truck ranges this fiscal as the second largest medium and heavy commercial vehicle company seeks to grow its share in the multi-axle vehicle, tipper and tractor trailer segments.
* AU SMALL FINANCE BANK: The board of directors of the bank on Saturday approved an early redemption of 2,000 non-convertible debentures issued to Franklin Templeton Mutual Fund with the consent of debenture trustee and debenture holders.
* BANK OF BARODA: Launched its first integrated SME loan factory in Gurgaon to cater to the needs of micro, small and medium enterprises segment in Delhi-National Capital Region.
* BHARTI AIRTEL: Has assured the Supreme Court it will comply with an Apr 13 order of a Delhi High Court single bench that had directed it to run a bold disclaimer in its Indian Premier League advertising campaign across all forms of media.
* BRITANNIA INDUSTRIES: Has assigned a capital expenditure of 5 bln rupees this year for the setting up of a manufacturing base at Ranjangaon in Maharashtra.
* COAL INDIA: Is set to increase supplies by at least 15 mtpa in the next few weeks, with three new rail projects linked to high capacity mines almost complete.
* DB CORP: The board of the company will meet on Saturday to consider buyback of shares.
* DHANLAXMI BANK: Is consulting with the Reserve Bank of India on the appointment of a new chief executive to replace the current incumbent G. Sreeram.
* ESSAR SHIPPING: Has approved an enabling resolution on Monday on sale of older vessels of the company, a move mainly aimed at dealing with a couple of global shipping regulations that will have an impact on older ships.
* FORTIS HEALTHCARE: YES BANK, which holds over 15% of the company, now finds itself in the dock. The lender is under the scanner of market regulator SEBI for its failure to make a timely disclosure of the invocation of share pledge of erstwhile Fortis promoters, the Singh brothers, and the part-sale of FHL shares in the open market. The Ministry of Corporate Affairs will start investigation into alleged mismanagement at the company in the midst of the takeover battle for the company, but it is not considering packing off the board and filling it with its nominees.
* FUTURE LIFESTYLE AND FASHIONS: Spectacular Investments has bought 15.58 mln shares or 8.2% stake in the company at 434 rupees a share through a bulk deal on BSE.
* FUTURE RETAIL: Has entered into a business transfer agreement with Foodworld Supermarkets for acquisition of its retail business undertaking for 407.90 mln rupees. Bharti Group firm Cedar Services is in talks with PremjiInvest, the investment arm of Wipro Chairman Azim Premji, and several other potential investors for selling its stake in the company.
* HERO MOTOCORP: As part of its plan for a smooth entry into electric two-wheeler segment, the company and Flipkart-backed Ather Energy on Monday announced the launch of their charging infrastructure for electric vehicles, AtherGrid, in Bengaluru.
* INDOSTAR CAPITAL FINANCE: Jupiter India Fund has bought 4.93 mln shares of the company at 600 rupees per share through a bulk deal on the National Stock Exchange.
* INFOSYS: After many months of turbulence, Chairman Nandan Nilekani said the company has demonstrated resilience.
* JAIPRAKASH ASSOCIATES: Jaiprakash Gaur, founder of Jaypee group, has joined the board of the company as an additional director. The company provided certain land parcels of its subsidiary JAYPEE INFRATECH as additional collateral to its lenders and the mortgage transactions could not be termed as "fraudulent".
* LARSEN & TOUBRO: National Company Law Appellate Tribunal has accepted a petition by the company for 9.61 bln rupees dues from BHUSHAN STEEL.
* MAHANAGAR GAS: The board has approved raising the shareholding limit for foreign institutional investors to 40% from 24%.
* MAHINDRA & MAHINDRA: The company's board will meet on May 29 to consider raising up to 50 bln rupees through issuance of securities including, but not limited to, secured or unsecured redeemable non-convertible debentures on private placement basis.
* NEW INDIA ASSURANCE CO: Will be able to fund 18-20% growth through internal accruals for four to five years instead of raising funds through the markets, Chairman and Managing Director, G. Srinivasan said.
* PETRONET LNG: Is evaluating three sites--Krishnapatnam and Kakinada in Andhra Pradesh, and Gopalpur in Odisha-- for setting up a liquefied natural gas regasification terminal, Managing Director and Chief Executive Officer Prabhat Singh said.
* PIRAMAL ENTERPRISES: Is looking to hire over 1,000 people this year, of which 100 are likely to be from country's premier engineering and management institutes.
* PUNJAB NATIONAL BANK: The Enforcement Directorate on Monday provisionally attached assets worth over 1.7 bln rupees of diamond jeweller Nirav Modi in connection with the alleged 1.34 trln rupees fraudulent transactions at the bank. Former MD and CEO of the bank Usha Ananthasubramanian and some other senior bank officials were aware of the "fraudulent" dealings with diamond merchant Nirav Modi, but kept misleading the RBI, the CBI has alleged in its charge sheet.
* RELIANCE COMMUNICATIONS: The company and its subsidiaries filed pleas in the appellate tribunal to set aside the National Company Law Tribunal's decision to start insolvency proceedings against them on a petition filed by network vendor Ericsson.
* RELIANCE INDUSTRIES: Reliance Jio Infocomm is planning to expand beyond the Indian market, and will set up a subsidiary in Estonia.
* RUCHI SOYA INDUSTRIES: A joint venture between the Adani group and Singaporean agri firm Wilmar is competing with Baba Ramdev's Patanjali Group to buy out the company in a 50-bln-rupee deal.
* SOUTH INDIAN BANK: Has kept its marginal cost of funds-based lending rates unchanged at 8.00-9.00%.
* STATE BANK OF INDIA: Its services may be impacted on May 30-31 if the proposed strike by various bank employees unions takes place.
* TATA STEEL: Has formed a crack team of 35 officials to integrate within its foldits largest and most recent acquisition in the country, Bhushan steel.
* ULTRATECH CEMENT: Dalmia Cement will continue its legal battle against the company's revised bid and is unlikely to raise its bid offer for Binani Cement.
* WIPRO: The company's US-based unit--Wipro Gallagher Solutions--has launched a loan origination software solution named NetOxygen SaaS for mortgage lenders.
* ZEE ENTERTAINMENT ENTERPRISES: Announced the appointment of Tarun Katial as chief executive officer for its digital arm, ZEE5.
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* ASHOK LEYLAND: Will roll out three heavy truck ranges this fiscal as the second largest medium and heavy commercial vehicle company seeks to grow its share in the multi-axle vehicle, tipper and tractor trailer segments.
* AU SMALL FINANCE BANK: The board of directors of the bank on Saturday approved an early redemption of 2,000 non-convertible debentures issued to Franklin Templeton Mutual Fund with the consent of debenture trustee and debenture holders.
* BANK OF BARODA: Launched its first integrated SME loan factory in Gurgaon to cater to the needs of micro, small and medium enterprises segment in Delhi-National Capital Region.
* BHARTI AIRTEL: Has assured the Supreme Court it will comply with an Apr 13 order of a Delhi High Court single bench that had directed it to run a bold disclaimer in its Indian Premier League advertising campaign across all forms of media.
* BRITANNIA INDUSTRIES: Has assigned a capital expenditure of 5 bln rupees this year for the setting up of a manufacturing base at Ranjangaon in Maharashtra.
* COAL INDIA: Is set to increase supplies by at least 15 mtpa in the next few weeks, with three new rail projects linked to high capacity mines almost complete.
* DB CORP: The board of the company will meet on Saturday to consider buyback of shares.
* DHANLAXMI BANK: Is consulting with the Reserve Bank of India on the appointment of a new chief executive to replace the current incumbent G. Sreeram.
* ESSAR SHIPPING: Has approved an enabling resolution on Monday on sale of older vessels of the company, a move mainly aimed at dealing with a couple of global shipping regulations that will have an impact on older ships.
* FORTIS HEALTHCARE: YES BANK, which holds over 15% of the company, now finds itself in the dock. The lender is under the scanner of market regulator SEBI for its failure to make a timely disclosure of the invocation of share pledge of erstwhile Fortis promoters, the Singh brothers, and the part-sale of FHL shares in the open market. The Ministry of Corporate Affairs will start investigation into alleged mismanagement at the company in the midst of the takeover battle for the company, but it is not considering packing off the board and filling it with its nominees.
* FUTURE LIFESTYLE AND FASHIONS: Spectacular Investments has bought 15.58 mln shares or 8.2% stake in the company at 434 rupees a share through a bulk deal on BSE.
* FUTURE RETAIL: Has entered into a business transfer agreement with Foodworld Supermarkets for acquisition of its retail business undertaking for 407.90 mln rupees. Bharti Group firm Cedar Services is in talks with PremjiInvest, the investment arm of Wipro Chairman Azim Premji, and several other potential investors for selling its stake in the company.
* HERO MOTOCORP: As part of its plan for a smooth entry into electric two-wheeler segment, the company and Flipkart-backed Ather Energy on Monday announced the launch of their charging infrastructure for electric vehicles, AtherGrid, in Bengaluru.
* INDOSTAR CAPITAL FINANCE: Jupiter India Fund has bought 4.93 mln shares of the company at 600 rupees per share through a bulk deal on the National Stock Exchange.
* INFOSYS: After many months of turbulence, Chairman Nandan Nilekani said the company has demonstrated resilience.
* JAIPRAKASH ASSOCIATES: Jaiprakash Gaur, founder of Jaypee group, has joined the board of the company as an additional director. The company provided certain land parcels of its subsidiary JAYPEE INFRATECH as additional collateral to its lenders and the mortgage transactions could not be termed as "fraudulent".
* LARSEN & TOUBRO: National Company Law Appellate Tribunal has accepted a petition by the company for 9.61 bln rupees dues from BHUSHAN STEEL.
* MAHANAGAR GAS: The board has approved raising the shareholding limit for foreign institutional investors to 40% from 24%.
* MAHINDRA & MAHINDRA: The company's board will meet on May 29 to consider raising up to 50 bln rupees through issuance of securities including, but not limited to, secured or unsecured redeemable non-convertible debentures on private placement basis.
* NEW INDIA ASSURANCE CO: Will be able to fund 18-20% growth through internal accruals for four to five years instead of raising funds through the markets, Chairman and Managing Director, G. Srinivasan said.
* PETRONET LNG: Is evaluating three sites--Krishnapatnam and Kakinada in Andhra Pradesh, and Gopalpur in Odisha-- for setting up a liquefied natural gas regasification terminal, Managing Director and Chief Executive Officer Prabhat Singh said.
* PIRAMAL ENTERPRISES: Is looking to hire over 1,000 people this year, of which 100 are likely to be from country's premier engineering and management institutes.
* PUNJAB NATIONAL BANK: The Enforcement Directorate on Monday provisionally attached assets worth over 1.7 bln rupees of diamond jeweller Nirav Modi in connection with the alleged 1.34 trln rupees fraudulent transactions at the bank. Former MD and CEO of the bank Usha Ananthasubramanian and some other senior bank officials were aware of the "fraudulent" dealings with diamond merchant Nirav Modi, but kept misleading the RBI, the CBI has alleged in its charge sheet.
* RELIANCE COMMUNICATIONS: The company and its subsidiaries filed pleas in the appellate tribunal to set aside the National Company Law Tribunal's decision to start insolvency proceedings against them on a petition filed by network vendor Ericsson.
* RELIANCE INDUSTRIES: Reliance Jio Infocomm is planning to expand beyond the Indian market, and will set up a subsidiary in Estonia.
* RUCHI SOYA INDUSTRIES: A joint venture between the Adani group and Singaporean agri firm Wilmar is competing with Baba Ramdev's Patanjali Group to buy out the company in a 50-bln-rupee deal.
* SOUTH INDIAN BANK: Has kept its marginal cost of funds-based lending rates unchanged at 8.00-9.00%.
* STATE BANK OF INDIA: Its services may be impacted on May 30-31 if the proposed strike by various bank employees unions takes place.
* TATA STEEL: Has formed a crack team of 35 officials to integrate within its foldits largest and most recent acquisition in the country, Bhushan steel.
* ULTRATECH CEMENT: Dalmia Cement will continue its legal battle against the company's revised bid and is unlikely to raise its bid offer for Binani Cement.
* WIPRO: The company's US-based unit--Wipro Gallagher Solutions--has launched a loan origination software solution named NetOxygen SaaS for mortgage lenders.
* ZEE ENTERTAINMENT ENTERPRISES: Announced the appointment of Tarun Katial as chief executive officer for its digital arm, ZEE5.
