Today Stock News – 22.10.2018
* ARTSON ENGINEERING: Has received a letter of acceptance for a 958.9-mln-rupee order from INDIAN OIL CORP for supply, installation and commissioning of storage tanks at Dhumad, Gujarat.
* BHARTI AIRTEL: The company's non-mobile businesses, which generate more than a 10th of its India revenue, are under threat after Mukesh Ambani-led RELIANCE INDUSTRIES acquired controlling stakes in two national cable TV operators, which may spur the rollout of its telecom arm's countrywide home broadband service.
* BIOCON: European Medicines Agency's committee has recommended approving the company's Ogivri drug, a biosimilar to Roche's Herceptin.
* COAL INDIA: Has decided to increase the tenure of fuel supply pacts to be signed with the steel industry to 10 years with a view to reduce the sector's reliance on imports for the fuel.
* COFFEE DAY ENTERPRISES: Promoter V.G. Siddhartha is ahead in the race to buy stake in risk
management and insurance broker Bharat Re.
* CONTAINER CORP OF INDIA: The company and Kribhco Infrastructure Ltd have entered into an
agreement. Under the pact, the company will operate and manage the bonded area at Kribhco Infrastructure's terminal at Modinagar for handling of export-import traffic.
* DEWAN HOUSING FINANCE CORP: Jasmine Capital Investments has sold 8.25 mln shares or 2.63% stake in the company at 213.13 rupees apiece, through a bulk deal on the National Stock Exchange.
-Aadhar Housing Finance, a unit of Wadhawan Global Capital and a group company linked to the company (holds 9.2%), is seeking to sell the majority of its saleable loan portfolio to banks to tide over liquidity crunch.
* EVEREADY INDUSTRIES INDIA: Is focusing on the lighting and appliances business to drive its growth and expects the two segments to contribute almost half in its turnover in the next 4-5 years, a senior company executive has said.
* FUTURE CONSUMER: Plans to launch products in a host of new categories next year. It aims to take on fast moving consumer goods majors and targets 50% growth by next year.
* HOUSING AND URBAN DEVELOPMENT CORP: Has withdrawn its proposed sale of 10-year
government-serviced bonds, earlier scheduled for Monday.
Is planning to raise 5 bln rupees, with an option to retain oversubscription of up to 25 bln rupees through government's fully-serviced, unsecured, redeemable, non-convertible, non-cumulative, taxable bonds in the nature of debentures.
* INDIA GRID TRUST: Plans to raise 30 bln rupees to acquire projects as it looks to expand its portfolio.
* INDIABULLS HOUSING FINANCE: William Blair Emerging Markets Growth Fund has sold 2.48 mln shares or 0.58% stake in the company at 691.84 rupees apiece, through a bulk deal on the National Stock Exchange.
-Plans to sell all or part of its 18.7% stake in UK-based OakNorth Holdings within a month to a private equity fund.
* INDIABULLS VENTURES: The board will meet on Wednesday to consider to issue shares to some foreign investors on a preferential basis.
* IRB INFRASTRUCTURE DEVELOPERS: Has achieved financial closure of its hybrid annuity model project to eight-lane a 23.4-km section of the Vadodara-Mumbai Expressway.
* JET AIRWAYS (INDIA): Has said media reports that the Tata Group was in talks to buy majority stake in the company are speculative and there were no discussions or decision in this regard at the board level.
-Is in talks to raise as much as $800 mln from the sale and lease-back of 16 aircraft owned by the airline.
-Will disburse 25% of the September salary to its pilots and engineers along with the senior management on Oct 25.
-Is said to be pruning its workforce and operations further as India's second-biggest airline battles its worst financial crisis.
* JSW STEEL: Is likely to rope in a partner to bid for the stressed assets it is eyeing, including Bhushan Power & Steel.
-Has emerged as the preferred bidder for an iron ore mine in Karnataka, which went under the hammer last month.
-Has said it will consider raising additional long-term resources, including the issuance of equity shares or other securities, through a rights issue at its board meet next week.
-Is scouting for private equity to fund its 197-bln-rupee bid to acquire the stressed Bhushan Power and Steel asset.
* LUPIN: Has adopted positive recommendation from European Medicines Agency to market NaMuscla, which is used for the symptomatic treatment of myotonia in adults with non-dystrophic myotonic disorder.
-Plans to develop its Brazilian operations into a manufacturing hub for the Latin American region.
* MAHANAGAR TELEPHONE NIGAM: The telecom department has asked the company to outline a longterm roadmap on how the public sector undertaking plans to compete with other players that have a pan-India footprint.
* NANDAN DENIM: LTS Investment Fund has sold 245,000 shares or 0.51% stake in the company at 70.15 rupees each, through a bulk deal on BSE, exchange data showed.
* NEW DELHI TELEVISION: Has received show cause notice from the Directorate of Enforcement for violating Foreign Exchange Management Act, regarding receipt of foreign direct investment of 16.37 bln rupees and overseas investment of 27.32 bln rupees.
* NTPC: Will set up solar plants at all its units. The capacity of each solar unit would be close to 200-500 MW and the total target will be 10 GW.
-Plans to start biomass co-firing across all its coal-based thermal power stations to reduce greenhouse gas emissions and cut pollution.
* OIL & NATURAL GAS CORP: Bought Gujarat State Petroleum Corp's stake in a KG Basin gas block for $1.2 bln (about 80 bln rupees) when the replacement value of brand new assets built by the company is at least $1.5 bln and the asking price was 200 bln rupees, its former chairman DK Sarraf said.
* PIRAMAL ENTERPRISES: On Sunday said it "strongly refutes baseless rumours" regarding loan defaults by real estate developers to its lending arms Piramal Capital & Housing Finance.
* PTC INDIA: Will sign medium-term power purchase agreements for 1,900 MW coal-based power capacities with seven companies and five states by month end under a pilot scheme.
* PURAVANKARA: Has purchased a two-acre plot at Chembur in suburban Mumbai for 1.47 bln rupees.
* RBL BANK: Will hike its marginal cost of funds-based lending rates for three-month loans by 5 basis points and for one-three year loans by 10 bps, with effect from Monday.
* RELIANCE INDUSTRIES: Telecom arm Reliance Jio Infocomm will offer 100% cashback in the form of coupons on recharge of 149 rupees or more, till Nov 30.
-Has garnered 35 bln rupees by issuing bonds on private placement basis on the bourse's electronic book mechanism platform.
-Will finalise the site for India's first pod-taxi prototype, the next generation transportation system,
according to the terms of the deal between the company and SkyTran.
* RELIANCE NAVAL AND ENGINEERING: The company's unsecured operational creditor, Markss Infotech, has served the copy of petition, filed before the National Company Law Tribunal, Ahmedabad, for total claim of 5.11 mln rupees.
* RELIANCE POWER: Subsidiary Sasan Power has received an arbitration award against North American Coal Corp.
* REPCO HOME FINANCE: Taiyo Greater India Fund has sold 427,000 shares or 0.68% stake in the company at 312.70 rupees per share, through a bulk deal on the National Stock Exchange.
* SH KELKAR AND CO: Has accepted the resignation of Rahul Bhaduri, executive vice-president and chief financial officer, effective from Dec 3.
-Has commenced commercial production at tonalid manufacturing facility at Mahad, Maharashtra, with installed capacity of 1,200 tn per annum.
* SHRIRAM TRANSPORT FINANCE CO: Has bought back 250 non-convertible debentures for 259.55 mln rupees.
* SKF INDIA: Board will meet on Wednesday to consider a proposal for buyback of shares of the company.
* SREI INFRASTRUCTURE FINANCE: Has denied rumors of lay-offs in the organisation, and said it is in the process of adding more workforce owing to continued expansion and growth in business.
* STEEL AUTHORITY OF INDIA: Said it was gearing up for supply of wheels for newly introduced Linke Hoffman Busche coaches for the railways.
* SUDARSHAN CHEMICAL INDUSTRIES: Akash Bhanshali has bought 8.04% stake in the company through open market.
* SUNDARAM FINANCE: Sundaram BNP Paribas, a joint venture between the company and BNP Paribas Personal Finance, has revised the interest rate on deposits.
* TATA CONSULTANCY SERVICES: Has restructured its industry solutions units, giving almost 200 employees control of them and quarterly target goals as it looks to free up senior executives to focus on longterm strategy.
* TATA STEEL: The company's European business has announced a partnership with the Netherlands' chemicals company Nouryon and the Port of Amsterdam to develop the largest green hydrogen cluster in Europe. The company's wholly-owned subsidiary TS Global Minerals Holdings has entered into an agreement to divest its entire stake in its step-down subsidiary Black Ginger 461 to IMR Asia Holding for 366 mln rand (around 1.87 bln rupees).
* TECH MAHINDRA: The Federal Court of Australia's verdict on a case relating to the company stated that the payments received by an Indian company from its clients in Australia will taxed in Australia.
* VEDANTA: The race to acquire Essar Steel may not be over yet as the company and VTB Bank of Russia have said they would make better offers as compared with ArcelorMittal's if they get approval from the Supreme Court.
* WOCKHARDT: CARE RATINGS has downgraded its rating on the company's long-term bank facilities to "BBB-" from "A".
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* BHARTI AIRTEL: The company's non-mobile businesses, which generate more than a 10th of its India revenue, are under threat after Mukesh Ambani-led RELIANCE INDUSTRIES acquired controlling stakes in two national cable TV operators, which may spur the rollout of its telecom arm's countrywide home broadband service.
* BIOCON: European Medicines Agency's committee has recommended approving the company's Ogivri drug, a biosimilar to Roche's Herceptin.
* COAL INDIA: Has decided to increase the tenure of fuel supply pacts to be signed with the steel industry to 10 years with a view to reduce the sector's reliance on imports for the fuel.
* COFFEE DAY ENTERPRISES: Promoter V.G. Siddhartha is ahead in the race to buy stake in risk
management and insurance broker Bharat Re.
* CONTAINER CORP OF INDIA: The company and Kribhco Infrastructure Ltd have entered into an
agreement. Under the pact, the company will operate and manage the bonded area at Kribhco Infrastructure's terminal at Modinagar for handling of export-import traffic.
* DEWAN HOUSING FINANCE CORP: Jasmine Capital Investments has sold 8.25 mln shares or 2.63% stake in the company at 213.13 rupees apiece, through a bulk deal on the National Stock Exchange.
-Aadhar Housing Finance, a unit of Wadhawan Global Capital and a group company linked to the company (holds 9.2%), is seeking to sell the majority of its saleable loan portfolio to banks to tide over liquidity crunch.
* EVEREADY INDUSTRIES INDIA: Is focusing on the lighting and appliances business to drive its growth and expects the two segments to contribute almost half in its turnover in the next 4-5 years, a senior company executive has said.
* FUTURE CONSUMER: Plans to launch products in a host of new categories next year. It aims to take on fast moving consumer goods majors and targets 50% growth by next year.
* HOUSING AND URBAN DEVELOPMENT CORP: Has withdrawn its proposed sale of 10-year
government-serviced bonds, earlier scheduled for Monday.
Is planning to raise 5 bln rupees, with an option to retain oversubscription of up to 25 bln rupees through government's fully-serviced, unsecured, redeemable, non-convertible, non-cumulative, taxable bonds in the nature of debentures.
* INDIA GRID TRUST: Plans to raise 30 bln rupees to acquire projects as it looks to expand its portfolio.
* INDIABULLS HOUSING FINANCE: William Blair Emerging Markets Growth Fund has sold 2.48 mln shares or 0.58% stake in the company at 691.84 rupees apiece, through a bulk deal on the National Stock Exchange.
-Plans to sell all or part of its 18.7% stake in UK-based OakNorth Holdings within a month to a private equity fund.
* INDIABULLS VENTURES: The board will meet on Wednesday to consider to issue shares to some foreign investors on a preferential basis.
* IRB INFRASTRUCTURE DEVELOPERS: Has achieved financial closure of its hybrid annuity model project to eight-lane a 23.4-km section of the Vadodara-Mumbai Expressway.
* JET AIRWAYS (INDIA): Has said media reports that the Tata Group was in talks to buy majority stake in the company are speculative and there were no discussions or decision in this regard at the board level.
-Is in talks to raise as much as $800 mln from the sale and lease-back of 16 aircraft owned by the airline.
-Will disburse 25% of the September salary to its pilots and engineers along with the senior management on Oct 25.
-Is said to be pruning its workforce and operations further as India's second-biggest airline battles its worst financial crisis.
* JSW STEEL: Is likely to rope in a partner to bid for the stressed assets it is eyeing, including Bhushan Power & Steel.
-Has emerged as the preferred bidder for an iron ore mine in Karnataka, which went under the hammer last month.
-Has said it will consider raising additional long-term resources, including the issuance of equity shares or other securities, through a rights issue at its board meet next week.
-Is scouting for private equity to fund its 197-bln-rupee bid to acquire the stressed Bhushan Power and Steel asset.
* LUPIN: Has adopted positive recommendation from European Medicines Agency to market NaMuscla, which is used for the symptomatic treatment of myotonia in adults with non-dystrophic myotonic disorder.
-Plans to develop its Brazilian operations into a manufacturing hub for the Latin American region.
* MAHANAGAR TELEPHONE NIGAM: The telecom department has asked the company to outline a longterm roadmap on how the public sector undertaking plans to compete with other players that have a pan-India footprint.
* NANDAN DENIM: LTS Investment Fund has sold 245,000 shares or 0.51% stake in the company at 70.15 rupees each, through a bulk deal on BSE, exchange data showed.
* NEW DELHI TELEVISION: Has received show cause notice from the Directorate of Enforcement for violating Foreign Exchange Management Act, regarding receipt of foreign direct investment of 16.37 bln rupees and overseas investment of 27.32 bln rupees.
* NTPC: Will set up solar plants at all its units. The capacity of each solar unit would be close to 200-500 MW and the total target will be 10 GW.
-Plans to start biomass co-firing across all its coal-based thermal power stations to reduce greenhouse gas emissions and cut pollution.
* OIL & NATURAL GAS CORP: Bought Gujarat State Petroleum Corp's stake in a KG Basin gas block for $1.2 bln (about 80 bln rupees) when the replacement value of brand new assets built by the company is at least $1.5 bln and the asking price was 200 bln rupees, its former chairman DK Sarraf said.
* PIRAMAL ENTERPRISES: On Sunday said it "strongly refutes baseless rumours" regarding loan defaults by real estate developers to its lending arms Piramal Capital & Housing Finance.
* PTC INDIA: Will sign medium-term power purchase agreements for 1,900 MW coal-based power capacities with seven companies and five states by month end under a pilot scheme.
* PURAVANKARA: Has purchased a two-acre plot at Chembur in suburban Mumbai for 1.47 bln rupees.
* RBL BANK: Will hike its marginal cost of funds-based lending rates for three-month loans by 5 basis points and for one-three year loans by 10 bps, with effect from Monday.
* RELIANCE INDUSTRIES: Telecom arm Reliance Jio Infocomm will offer 100% cashback in the form of coupons on recharge of 149 rupees or more, till Nov 30.
-Has garnered 35 bln rupees by issuing bonds on private placement basis on the bourse's electronic book mechanism platform.
-Will finalise the site for India's first pod-taxi prototype, the next generation transportation system,
according to the terms of the deal between the company and SkyTran.
* RELIANCE NAVAL AND ENGINEERING: The company's unsecured operational creditor, Markss Infotech, has served the copy of petition, filed before the National Company Law Tribunal, Ahmedabad, for total claim of 5.11 mln rupees.
* RELIANCE POWER: Subsidiary Sasan Power has received an arbitration award against North American Coal Corp.
* REPCO HOME FINANCE: Taiyo Greater India Fund has sold 427,000 shares or 0.68% stake in the company at 312.70 rupees per share, through a bulk deal on the National Stock Exchange.
* SH KELKAR AND CO: Has accepted the resignation of Rahul Bhaduri, executive vice-president and chief financial officer, effective from Dec 3.
-Has commenced commercial production at tonalid manufacturing facility at Mahad, Maharashtra, with installed capacity of 1,200 tn per annum.
* SHRIRAM TRANSPORT FINANCE CO: Has bought back 250 non-convertible debentures for 259.55 mln rupees.
* SKF INDIA: Board will meet on Wednesday to consider a proposal for buyback of shares of the company.
* SREI INFRASTRUCTURE FINANCE: Has denied rumors of lay-offs in the organisation, and said it is in the process of adding more workforce owing to continued expansion and growth in business.
* STEEL AUTHORITY OF INDIA: Said it was gearing up for supply of wheels for newly introduced Linke Hoffman Busche coaches for the railways.
* SUDARSHAN CHEMICAL INDUSTRIES: Akash Bhanshali has bought 8.04% stake in the company through open market.
* SUNDARAM FINANCE: Sundaram BNP Paribas, a joint venture between the company and BNP Paribas Personal Finance, has revised the interest rate on deposits.
* TATA CONSULTANCY SERVICES: Has restructured its industry solutions units, giving almost 200 employees control of them and quarterly target goals as it looks to free up senior executives to focus on longterm strategy.
* TATA STEEL: The company's European business has announced a partnership with the Netherlands' chemicals company Nouryon and the Port of Amsterdam to develop the largest green hydrogen cluster in Europe. The company's wholly-owned subsidiary TS Global Minerals Holdings has entered into an agreement to divest its entire stake in its step-down subsidiary Black Ginger 461 to IMR Asia Holding for 366 mln rand (around 1.87 bln rupees).
* TECH MAHINDRA: The Federal Court of Australia's verdict on a case relating to the company stated that the payments received by an Indian company from its clients in Australia will taxed in Australia.
* VEDANTA: The race to acquire Essar Steel may not be over yet as the company and VTB Bank of Russia have said they would make better offers as compared with ArcelorMittal's if they get approval from the Supreme Court.
* WOCKHARDT: CARE RATINGS has downgraded its rating on the company's long-term bank facilities to "BBB-" from "A".
