Today Stock News – 23.10.2018
* ASIAN PAINTS: The board has approved appointment of Manish Choksi as non-executive director, effective Monday.
* BANK OF BARODA: The government will provide additional capital cushion to the proposed merged bank to be formed by amalgamation of the bank, DENA BANK and VIJAYA BANK to start the new bank on a stronger footing.
* BANK OF INDIA: UK's Jersey Financial Services Commission has allowed closure of Jersey branch of the bank from Thursday.
* BHARAT HEAVY ELECTRICALS: Board will meet on Thursday to consider buyback of shares along with Jul-Sep earnings.
* CANARA BANK: Has sought bids to replace financially struggling Gammon Group with a new developer to complete construction and run a stalled container terminal at the Mumbai Port, in a first such case in the ports sector.
* COAL INDIA: Offered 5 mln tn of extra coal to NTPC on a credit basis and agreed to supply 794,000 tn of domestic coal per month to power utilities, on condition that the power utilities will cut imports, an official said.
* CYIENT: Appointed Peter F. Longo as chairman of business unit Cyient Inc.
* DEEPAK FERTILISERS & PETROCHEMICALS CORP: Realty business arm Creaticity Mall is
completing its makeover from a speciality-home-and-decor-destination to a creative campus.
* DEWAN HOUSING FINANCE CORP: Jasmine Capital Investments has sold 7.12 mln shares or 2.27% stake in the company at 213.13 rupees each, in a bulk deal on the National Stock Exchange.
* DIGJAM: Manufacturing of woollen and worsted fabrics at the company's mill in Jamnagar has been temporarily suspended due to extremely tight liquidity and working capital position.
* DR REDDY'S LABORATORIES: Will receive 1.25 bln rupees from sale of its bulk drugs manufacturing unit in Jeedimetla, Hyderabad, to Therapiva.
* EVEREST ORGANICS: Telangana State Pollution Control Board has ordered closure of the company's factory at Sadasivapet due to non-compliance of norms.
* HERO MOTOCORP: Plans to have half-a-dozen scooters in its product portfolio in the next 8-12 months, as it seeks to expand its presence in a fast-growing segment where its presence is rather small.
* HIMACHAL FUTURISTIC COMMUNICATIONS: Received an advance purchase order worth 3.66 bln rupees from Bharat Sanchar Nigam to install and maintain optical fibre cable in Assam under BharatNet Phase-II Network.
* ITD CEMENTATION INDIA: Received orders worth 10.7 bln rupees from Airports Authority of India, Vizhinjam Port, Visakhapatnam Port, Mumbai Metro and Rail Vikas Nigam.
* JET AIRWAYS INDIA: Clarified that the news item over the company setting its jet sale, leaseback plan in motion to raise $800 mln is speculative.
-To avoid a default on loan payments, the company and SPICEJET have sought a moratorium on lease rent payment.
-Has cancelled its proposed deal with TruJet for wet leasing of some of its regional jets over the latter's failure to meet with the deadline on terms of agreement.
* KWALITY: Global private equity player KKR has filed insolvency plea against the company before the National Company Law Tribunal.
* LAKSHMI MACHINE WORKS: Board has approved buyback of 266,666 shares at 6,000 rupees each, for an aggregate amount of 1.6 bln rupees.
* LAKSHMI VILAS BANK: Five financial investors, including The Blackstone Group, Bain Capital and TPG Capital Management, have been shortlisted to buy controlling stake in the bank, reflecting continued private equity interest in the country's financial services space.
* LIC HOUSING FINANCE: Plans to sell bonds worth at least 7.5 bln rupees today and has invited bids from interested parties. The housing financier plans to sell bonds that are maturing in September 2020, March 2022 and September 2028.
* MPHASIS: Has partnered with BAE Systems to set up a global centre of excellence for fraud detection and anti-money laundering.
* NESTLE INDIA: The Directorate General of Anti-Profiteering has established a case of goods and services tax profiteering against the company.
* PERSISTENT SYSTEMS: Will continue to monitor developments at IL&FS group, where the company has inter-corporate deposits worth 430 mln rupees.
* PNC INFRATECH: Wholly-owned subsidiary PNC Aligarh Highways has achieved financial closure for its 12-bln-rupee road project and has submitted the related documents to National Highways Authority of India.
* PUNJAB NATIONAL BANK: Invested nearly 500 mln rupees to pick up significant minority stake in GARDEN REACH SHIPBUILDERS & ENGINEERS during its initial public offering last month, even though the public sector lender is cash-strapped and is selling non-core assets to make up for huge losses.
* RELIANCE INDUSTRIES: British oil major BP and the company are planning to jointly set up as many as 2,000 fuel retail outlets in India over the next three years.
* RURAL ELECTRIFICATION CORP: Plans to raise $1 bln through a bond sale to US-based investors, a first for the state-run company that has so far tapped investors in Europe and Asia.
* SPICEJET: Has sought a three-month extension from a leasing company for making payments on aircraft leases, as a delay in delivery of 737 Max planes by Boeing Co has caused liquidity issues at the budget airline, said ratings agency CRISIL.
* STATE BANK OF INDIA: The bank's board on Monday approved a proposal to raise up to 200 bln rupees through equity capital and up to 50 bln rupees through tier-II bonds in the current financial year ending March.
* TATA STEEL: On Monday alleged that the committee of creditors of Bhushan Power and Steel were biased towards JSW STEEL's bid for the company as they had allowed the latter to revise its resolution plan six times.
* ZEE ENTERTAINMENT ENTERPRISES: Has secured a US patent for a digital technology.
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* BANK OF BARODA: The government will provide additional capital cushion to the proposed merged bank to be formed by amalgamation of the bank, DENA BANK and VIJAYA BANK to start the new bank on a stronger footing.
* BANK OF INDIA: UK's Jersey Financial Services Commission has allowed closure of Jersey branch of the bank from Thursday.
* BHARAT HEAVY ELECTRICALS: Board will meet on Thursday to consider buyback of shares along with Jul-Sep earnings.
* CANARA BANK: Has sought bids to replace financially struggling Gammon Group with a new developer to complete construction and run a stalled container terminal at the Mumbai Port, in a first such case in the ports sector.
* COAL INDIA: Offered 5 mln tn of extra coal to NTPC on a credit basis and agreed to supply 794,000 tn of domestic coal per month to power utilities, on condition that the power utilities will cut imports, an official said.
* CYIENT: Appointed Peter F. Longo as chairman of business unit Cyient Inc.
* DEEPAK FERTILISERS & PETROCHEMICALS CORP: Realty business arm Creaticity Mall is
completing its makeover from a speciality-home-and-decor-destination to a creative campus.
* DEWAN HOUSING FINANCE CORP: Jasmine Capital Investments has sold 7.12 mln shares or 2.27% stake in the company at 213.13 rupees each, in a bulk deal on the National Stock Exchange.
* DIGJAM: Manufacturing of woollen and worsted fabrics at the company's mill in Jamnagar has been temporarily suspended due to extremely tight liquidity and working capital position.
* DR REDDY'S LABORATORIES: Will receive 1.25 bln rupees from sale of its bulk drugs manufacturing unit in Jeedimetla, Hyderabad, to Therapiva.
* EVEREST ORGANICS: Telangana State Pollution Control Board has ordered closure of the company's factory at Sadasivapet due to non-compliance of norms.
* HERO MOTOCORP: Plans to have half-a-dozen scooters in its product portfolio in the next 8-12 months, as it seeks to expand its presence in a fast-growing segment where its presence is rather small.
* HIMACHAL FUTURISTIC COMMUNICATIONS: Received an advance purchase order worth 3.66 bln rupees from Bharat Sanchar Nigam to install and maintain optical fibre cable in Assam under BharatNet Phase-II Network.
* ITD CEMENTATION INDIA: Received orders worth 10.7 bln rupees from Airports Authority of India, Vizhinjam Port, Visakhapatnam Port, Mumbai Metro and Rail Vikas Nigam.
* JET AIRWAYS INDIA: Clarified that the news item over the company setting its jet sale, leaseback plan in motion to raise $800 mln is speculative.
-To avoid a default on loan payments, the company and SPICEJET have sought a moratorium on lease rent payment.
-Has cancelled its proposed deal with TruJet for wet leasing of some of its regional jets over the latter's failure to meet with the deadline on terms of agreement.
* KWALITY: Global private equity player KKR has filed insolvency plea against the company before the National Company Law Tribunal.
* LAKSHMI MACHINE WORKS: Board has approved buyback of 266,666 shares at 6,000 rupees each, for an aggregate amount of 1.6 bln rupees.
* LAKSHMI VILAS BANK: Five financial investors, including The Blackstone Group, Bain Capital and TPG Capital Management, have been shortlisted to buy controlling stake in the bank, reflecting continued private equity interest in the country's financial services space.
* LIC HOUSING FINANCE: Plans to sell bonds worth at least 7.5 bln rupees today and has invited bids from interested parties. The housing financier plans to sell bonds that are maturing in September 2020, March 2022 and September 2028.
* MPHASIS: Has partnered with BAE Systems to set up a global centre of excellence for fraud detection and anti-money laundering.
* NESTLE INDIA: The Directorate General of Anti-Profiteering has established a case of goods and services tax profiteering against the company.
* PERSISTENT SYSTEMS: Will continue to monitor developments at IL&FS group, where the company has inter-corporate deposits worth 430 mln rupees.
* PNC INFRATECH: Wholly-owned subsidiary PNC Aligarh Highways has achieved financial closure for its 12-bln-rupee road project and has submitted the related documents to National Highways Authority of India.
* PUNJAB NATIONAL BANK: Invested nearly 500 mln rupees to pick up significant minority stake in GARDEN REACH SHIPBUILDERS & ENGINEERS during its initial public offering last month, even though the public sector lender is cash-strapped and is selling non-core assets to make up for huge losses.
* RELIANCE INDUSTRIES: British oil major BP and the company are planning to jointly set up as many as 2,000 fuel retail outlets in India over the next three years.
* RURAL ELECTRIFICATION CORP: Plans to raise $1 bln through a bond sale to US-based investors, a first for the state-run company that has so far tapped investors in Europe and Asia.
* SPICEJET: Has sought a three-month extension from a leasing company for making payments on aircraft leases, as a delay in delivery of 737 Max planes by Boeing Co has caused liquidity issues at the budget airline, said ratings agency CRISIL.
* STATE BANK OF INDIA: The bank's board on Monday approved a proposal to raise up to 200 bln rupees through equity capital and up to 50 bln rupees through tier-II bonds in the current financial year ending March.
* TATA STEEL: On Monday alleged that the committee of creditors of Bhushan Power and Steel were biased towards JSW STEEL's bid for the company as they had allowed the latter to revise its resolution plan six times.
* ZEE ENTERTAINMENT ENTERPRISES: Has secured a US patent for a digital technology.
