Today Stock News – 11.10.2018
* BAJAJ AUTO: Will be aggressive in its competitive pricing strategy on the back of foreign exchange gains it accumulated from exports, as it aims to raise market share to 20% in the domestic two-wheeler sector.
* BANDHAN BANK: Soon after the Reserve Bank of India barred the lender from opening branches without prior approval, the bank is set to "soon" submit a strategic plan to the regulator detailing its approach to reduce promoter stake to below 40% as per regulatory requirement.
* BHARAT GEARS: Has lined up sources of funds required for capital expenditure of up to 600 mln rupees.
* CADILA HEALTHCARE: Zydus Cadila Group has mounted an aggressive 45-bln-rupee offer for the Kraft Heinz Co's consumer brand business in India, outbidding the Coca-Cola Co for a portfolio that includes children's health drink Complan.
* CAPRI GLOBAL CAPITAL: Wellington Management Co LLP has sold 0.86% stake or 1.5 mln shares of the company at 81.50 rupees per share through a bulk deal on the BSE.
* CHENNAI PETROLEUM CORP: Has shut a 74,000 bpd crude unit at its 210,000 bpd Manali refinery in Tamil Nadu from Saturday for about a month for planned maintenance.
* DHAMPUR SUGAR MILLS: Stock will be placed under additional surveillance, with a 5% restriction on its price movement from Thursday.
* DILIP BUILDCON: Has emerged as the lowest bidder in a tender floated by Mahanadi Coalfield Ltd for 10- bln-rupee project in Odisha.
* FUTURE ENTERPRISES: Has acquired a 55% stake in LivQuik Technology (India), which operates the QuikWallet mobile app.
* GE POWER INDIA: Has decided to shutdown its factory located at Shahabad in Uttar Pradesh with effect from Thursday due to participation of majority of its workmen in the voluntary retirement schemes offered by it.
* GODREJ CONSUMER PRODUCTS: Has now paused to take stock of its past investments, a top executive said.
* HOUSING DEVELOPMENT FINANCE CORP: Plans to raise at least 5 bln rupees through bonds maturing in 10 years, and the company has invited bids for quantum of funds, between 1000 IST and 1100 IST on Friday.
* INDIABULLS INTEGRATED SERVICES: The company's reorganisation committee has recommended demerger of non-financial businesses to arm SORIL INFRA RESOURCES.
* INTERGLOBE AVIATION: In what has been preliminarily identified as a new problem in the Pratt & Whitney engine equipped Airbus A320neo aircraft, an IndiGo flight from Bengaluru to Ahmedabad returned shortly after takeoff when pilots observed loss of oil pressure in the left engine.
* ITI: Has received an order worth 3.34 bln rupees from the Rajasthan government-owned RajCOMP Info Services.
* IVRCL: The Insolvency Resolution Professional, advisors and Committee of Creditors will evaluate the resolution plan submitted in the company's corporate insolvency case.
* JINDAL STAINLESS: Will invest about 3 bln rupees in expanding the capacity at its factories in Haryana and Odisha, in preparation for the demand in both flat and long product segments.
* JK PAPER: Kotak Mahindra Asset Management Co has sold 0.68% stake or 1.2 mln shares in the company at 161.85 rupees per share through a bulk deal on the National Stock Exchange.
* KP ENERGY: Announced its migration to the BSE main board from the SME platform, after over two years of its getting listed on the bourses.
* LKP FINANCE: Has settled a Securities and Exchange Board of India probe into alleged violations of takeover norms and insider trading regulations after paying over 1.4 mln rupees as settlement fee.
* MAHANAGAR TELEPHONE NIGAM: Has sought permission from the government for preferential capital issuance of 62.92 bln rupees to launch fourth-generation services and would soon release a tender to select a gear vendor partner for the ambitious rollout.
* MAHINDRA & MAHINDRA: Will offer KUV100, TUV300, Scorpio, Marazzo and XUV500 models to retail buyers on monthly rental basis for up to five years.
-Launched a car leasing scheme that enables customers to get an ownership-like experience, while taking care of most of the expenses attached with owning a car.
* MCLEOD RUSSEL INDIA: Has handed over Moran Tea Estate, Lepetkatta Tea Estate, Attabarrie Tea Estate and Sepon Tea Estate in Assam to Luxmi Tea Co.
* OIL & NATURAL GAS CORP: Is planning to purchase 27 drilling rigs to replace nearly half of its ageing onland rigs in a deal that could cost 30-35 bln rupees.
* OIL INDIA: Has made two hydrocarbon discoveries in Dibrugarh and Tinsukia districts in the Upper Assam basin during Jul-Sep, in the West Lohali-1 and Dhakuwal-1 wells, respectively.
* PTC INDIA: Has signed two power purchase agreements with Bangladesh Power Development Board to supply 200 MW power on a short- and long-term basis to Bangladesh for 15 years.
* RELIANCE COMMUNICATIONS: The National Company Law Appellate Tribunal on Wednesday deferred a hearing in HSBC Daisy Investments (Mauritius)'s plea against Reliance Infratel to Oct 24, following a request by lawyers of the two parties, who said settlement talks between the two parties were at an advanced stage.
* SHAKTI PUMPS (INDIA): Has received the Ministry of Science & Technology's approval to set up in-house research and development facilities.
* STATE BANK OF INDIA: The Reserve Bank of India, its subsidiary National Housing Bank, and the bank have opened the liquidity taps to ensure that lenders, especially non-banking finance companies, do not face restraints in lending in the traditionally busy season of Oct-Mar due to liquidity issues.
* STEEL AUTHORITY OF INDIA: The steel ministry has decided to constitute a high level probe by external experts into the devastating accidental fire at Bhilai steel plant, which claimed 12 lives so far.
-M. Ravi, chief executive officer of Bhilai Steel Plant was removed from his post and two senior officials were suspended on Wednesday, a day after a blast in the plant of the company in Durg district of Chhattisgarh.
* TATA ELXSI: Mobis Technical Centre, India, a wholly-owned subsidiary of Hyundai Mobis of South Korea, announced their collaboration with the company for the development of synthetic scene generator tool.
* TATA MOTORS: Even as rupee depreciation is adding to the stress in the automobile market, the company will evaluate passing on its impact to consumers only around December to avoid price hike during the festival season, a senior company official said.
* TATA POWER CO: Is among two bidders in the race to acquire Central Electricity Supply Utility of Odisha in what would be the first such deal in nearly two decades in India's power sector.
* USHA MARTIN: Will hold an extraordinary general meeting with shareholders on Nov 10 to seek their approval for sale of its steel business to TATA STEEL.
* VODAFONE IDEA: Has moved the telecom tribunal to recover bank guarantees worth 33.22 bln rupees that was paid 'under protest' to get the government's nod for the merging of Vodafone India and Idea Cellular.
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* BANDHAN BANK: Soon after the Reserve Bank of India barred the lender from opening branches without prior approval, the bank is set to "soon" submit a strategic plan to the regulator detailing its approach to reduce promoter stake to below 40% as per regulatory requirement.
* BHARAT GEARS: Has lined up sources of funds required for capital expenditure of up to 600 mln rupees.
* CADILA HEALTHCARE: Zydus Cadila Group has mounted an aggressive 45-bln-rupee offer for the Kraft Heinz Co's consumer brand business in India, outbidding the Coca-Cola Co for a portfolio that includes children's health drink Complan.
* CAPRI GLOBAL CAPITAL: Wellington Management Co LLP has sold 0.86% stake or 1.5 mln shares of the company at 81.50 rupees per share through a bulk deal on the BSE.
* CHENNAI PETROLEUM CORP: Has shut a 74,000 bpd crude unit at its 210,000 bpd Manali refinery in Tamil Nadu from Saturday for about a month for planned maintenance.
* DHAMPUR SUGAR MILLS: Stock will be placed under additional surveillance, with a 5% restriction on its price movement from Thursday.
* DILIP BUILDCON: Has emerged as the lowest bidder in a tender floated by Mahanadi Coalfield Ltd for 10- bln-rupee project in Odisha.
* FUTURE ENTERPRISES: Has acquired a 55% stake in LivQuik Technology (India), which operates the QuikWallet mobile app.
* GE POWER INDIA: Has decided to shutdown its factory located at Shahabad in Uttar Pradesh with effect from Thursday due to participation of majority of its workmen in the voluntary retirement schemes offered by it.
* GODREJ CONSUMER PRODUCTS: Has now paused to take stock of its past investments, a top executive said.
* HOUSING DEVELOPMENT FINANCE CORP: Plans to raise at least 5 bln rupees through bonds maturing in 10 years, and the company has invited bids for quantum of funds, between 1000 IST and 1100 IST on Friday.
* INDIABULLS INTEGRATED SERVICES: The company's reorganisation committee has recommended demerger of non-financial businesses to arm SORIL INFRA RESOURCES.
* INTERGLOBE AVIATION: In what has been preliminarily identified as a new problem in the Pratt & Whitney engine equipped Airbus A320neo aircraft, an IndiGo flight from Bengaluru to Ahmedabad returned shortly after takeoff when pilots observed loss of oil pressure in the left engine.
* ITI: Has received an order worth 3.34 bln rupees from the Rajasthan government-owned RajCOMP Info Services.
* IVRCL: The Insolvency Resolution Professional, advisors and Committee of Creditors will evaluate the resolution plan submitted in the company's corporate insolvency case.
* JINDAL STAINLESS: Will invest about 3 bln rupees in expanding the capacity at its factories in Haryana and Odisha, in preparation for the demand in both flat and long product segments.
* JK PAPER: Kotak Mahindra Asset Management Co has sold 0.68% stake or 1.2 mln shares in the company at 161.85 rupees per share through a bulk deal on the National Stock Exchange.
* KP ENERGY: Announced its migration to the BSE main board from the SME platform, after over two years of its getting listed on the bourses.
* LKP FINANCE: Has settled a Securities and Exchange Board of India probe into alleged violations of takeover norms and insider trading regulations after paying over 1.4 mln rupees as settlement fee.
* MAHANAGAR TELEPHONE NIGAM: Has sought permission from the government for preferential capital issuance of 62.92 bln rupees to launch fourth-generation services and would soon release a tender to select a gear vendor partner for the ambitious rollout.
* MAHINDRA & MAHINDRA: Will offer KUV100, TUV300, Scorpio, Marazzo and XUV500 models to retail buyers on monthly rental basis for up to five years.
-Launched a car leasing scheme that enables customers to get an ownership-like experience, while taking care of most of the expenses attached with owning a car.
* MCLEOD RUSSEL INDIA: Has handed over Moran Tea Estate, Lepetkatta Tea Estate, Attabarrie Tea Estate and Sepon Tea Estate in Assam to Luxmi Tea Co.
* OIL & NATURAL GAS CORP: Is planning to purchase 27 drilling rigs to replace nearly half of its ageing onland rigs in a deal that could cost 30-35 bln rupees.
* OIL INDIA: Has made two hydrocarbon discoveries in Dibrugarh and Tinsukia districts in the Upper Assam basin during Jul-Sep, in the West Lohali-1 and Dhakuwal-1 wells, respectively.
* PTC INDIA: Has signed two power purchase agreements with Bangladesh Power Development Board to supply 200 MW power on a short- and long-term basis to Bangladesh for 15 years.
* RELIANCE COMMUNICATIONS: The National Company Law Appellate Tribunal on Wednesday deferred a hearing in HSBC Daisy Investments (Mauritius)'s plea against Reliance Infratel to Oct 24, following a request by lawyers of the two parties, who said settlement talks between the two parties were at an advanced stage.
* SHAKTI PUMPS (INDIA): Has received the Ministry of Science & Technology's approval to set up in-house research and development facilities.
* STATE BANK OF INDIA: The Reserve Bank of India, its subsidiary National Housing Bank, and the bank have opened the liquidity taps to ensure that lenders, especially non-banking finance companies, do not face restraints in lending in the traditionally busy season of Oct-Mar due to liquidity issues.
* STEEL AUTHORITY OF INDIA: The steel ministry has decided to constitute a high level probe by external experts into the devastating accidental fire at Bhilai steel plant, which claimed 12 lives so far.
-M. Ravi, chief executive officer of Bhilai Steel Plant was removed from his post and two senior officials were suspended on Wednesday, a day after a blast in the plant of the company in Durg district of Chhattisgarh.
* TATA ELXSI: Mobis Technical Centre, India, a wholly-owned subsidiary of Hyundai Mobis of South Korea, announced their collaboration with the company for the development of synthetic scene generator tool.
* TATA MOTORS: Even as rupee depreciation is adding to the stress in the automobile market, the company will evaluate passing on its impact to consumers only around December to avoid price hike during the festival season, a senior company official said.
* TATA POWER CO: Is among two bidders in the race to acquire Central Electricity Supply Utility of Odisha in what would be the first such deal in nearly two decades in India's power sector.
* USHA MARTIN: Will hold an extraordinary general meeting with shareholders on Nov 10 to seek their approval for sale of its steel business to TATA STEEL.
* VODAFONE IDEA: Has moved the telecom tribunal to recover bank guarantees worth 33.22 bln rupees that was paid 'under protest' to get the government's nod for the merging of Vodafone India and Idea Cellular.
