Today Stock News – 24.10.2018
* BANK OF INDIA: Sought bids from asset reconstruction companies, banks, non-banking finance companiesand financial institutions for the proposed sale of 95 non-performing loan accounts worth 107.10 bln rupees.
* BSE: Will introduce weekly futures and options contracts on Sensex 50 index from Friday.
* COAL INDIA: Expecting some let up in the fuel shortage crisis in power plants by the first week of
November.
* CYIENT: Suntech has signed an agreement with the company to jointly pursue business opportunities globally in the communications industry.
* DCM SHRIRAM: Commercial production of additional 168 tn per day at the company's chlor-alkali manufacturing plant in Rajasthan started Monday.
* DENA BANK: Said it expects to bring down gross non-performing assets to 15% by March, from 22-23% currently, which will help it reduce losses.
* FORTIS HEALTHCARE: The Delhi High Court has agreed to hear Daiichi Sankyo's petition alleging that Malvinder Mohan Singh, Shivinder Mohan Singh and RHC Holdings had siphoned off close to 28 bln rupees from companies controlled by them so as to avoid paying the 35-bln-rupee decree amount to it.
* GREAVES COTTON: Completed the acquisition of 67% stake in Ampere Vehicles.
* HCL TECHNOLOGIES: Appointed Roshni Nadar Malhotra as vice-chairman of the board.
* HERO MOTOCORP: Going slow on electric scooters for now because of various reasons, including meeting BS-VI norms. The company is working on all products with new specifications and also has limited infrastructure for electric vehicles in the country.
* HINDUSTAN UNILEVER: After an anti-profiteering investigation, the company and Nestle will face a tax evasion probe.
* ICICI BANK: The law firm that had conducted the 2016 probe for the bank into allegations against Chanda Kochhar on nepotism and conflict of interest in her dealings with Videocon Group, has said that its findings were no longer valid.
* INTERGLOBE AVIATION: IndiGo has dropped its plan to outright purchase aircraft, and will continue with the sale-and-leaseback model, in a bid to conserve cash for the near future.
* JAYPEE INFRATECH: Lenders of the company have rejected a proposal to appoint Vijaykumar V. Iyer as new resolution professional.
* JET AIRWAYS INDIA: Has called off the proposed wet lease agreement with TruJet as the contractual terms were not met within the stipulated time.
Has approached banks for a moratorium on loans and asked for fresh funds to ease a cash crunch, according to sources, adding to signs that the carrier is sliding deeper into trouble.
* LAURUS LABS: Transferred its abbreviated new drug application for tenofovir disoproxil fumarate to CASI Pharmaceuticals Inc.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: Has raised 5.30 bln rupees through two bonds.
* MOTILAL OSWAL FINANCIAL SERVICES: The private equity arm of financial services group Motilal Oswal has raised 23 bln rupees for its third and largest fund till date, a top company executive said.
* NITIN FIRE PROTECTION INDUSTRIES: The National Company Law Tribunal has admitted DENA BANK's insolvency plea against the company.
* OIL & NATURAL GAS CORP: Russia's Rosneft and US' ExxonMobil plan to build a liquefied natural gas plant in a consortium with India's ONGC Videsh and Japan's SODECO, spreading the estimated $15 bln cost.
* RELIANCE INDUSTRIES: Begun talks to acquire controlling stake in GTPL HATHWAY, a leading multisystem- operator that dominates the Gujarat market. Will "match" the recent 1 rupee per litre rate cut in petrol and diesel effected by state-run oil marketing companies, to prop up its share in the local market. Is testing its payments bank services among its employees, sources said, similar to how it introduced Jio mobile services nearly three years ago.
* SALZER ELECTRONICS: Withdrawn proposals to acquire Thailand-based Advanced ID Asia Engineering Co and Hong Kong-based United Marketing and Trading.
* STATE BANK OF INDIA: Wants to appoint an adviser to liaison among the separate resolution
professionals and prospective bidders for the 15 Videocon group entities that it referred to the National Company Law Tribunal.
* SUN PHARMACEUTICAL INDUSTRIES: Started marketing Ilumya drug in the US.
* TATA CONSULTANCY SERVICES: Is the only Indian company among top 10 global firms to get foreign labour certification for H-1B visas for the fiscal year 2018.
Delta Air Lines, which counts IBM, the company and Cognizant among its key information technology partners, has begun transitioning some of the middleware applications and infrastructure management services to the company.
* TATA STEEL: Agreed to sell an iron ore mine in South Africa to IMR Metallurgical Resources AG, a Switzerland-based metals and mining group, for 366 mln rand (about 1.88 bln rupees).
* TVS MOTOR CO: Has elevated K.N. Radhakrishnan as director and chief executive officer for a period of five years.
* ZYDUS WELLNESS: Kraft Heinz has agreed to sell a portfolio of Indian businesses, including children's milk drink Complan, to the company.
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* BSE: Will introduce weekly futures and options contracts on Sensex 50 index from Friday.
* COAL INDIA: Expecting some let up in the fuel shortage crisis in power plants by the first week of
November.
* CYIENT: Suntech has signed an agreement with the company to jointly pursue business opportunities globally in the communications industry.
* DCM SHRIRAM: Commercial production of additional 168 tn per day at the company's chlor-alkali manufacturing plant in Rajasthan started Monday.
* DENA BANK: Said it expects to bring down gross non-performing assets to 15% by March, from 22-23% currently, which will help it reduce losses.
* FORTIS HEALTHCARE: The Delhi High Court has agreed to hear Daiichi Sankyo's petition alleging that Malvinder Mohan Singh, Shivinder Mohan Singh and RHC Holdings had siphoned off close to 28 bln rupees from companies controlled by them so as to avoid paying the 35-bln-rupee decree amount to it.
* GREAVES COTTON: Completed the acquisition of 67% stake in Ampere Vehicles.
* HCL TECHNOLOGIES: Appointed Roshni Nadar Malhotra as vice-chairman of the board.
* HERO MOTOCORP: Going slow on electric scooters for now because of various reasons, including meeting BS-VI norms. The company is working on all products with new specifications and also has limited infrastructure for electric vehicles in the country.
* HINDUSTAN UNILEVER: After an anti-profiteering investigation, the company and Nestle will face a tax evasion probe.
* ICICI BANK: The law firm that had conducted the 2016 probe for the bank into allegations against Chanda Kochhar on nepotism and conflict of interest in her dealings with Videocon Group, has said that its findings were no longer valid.
* INTERGLOBE AVIATION: IndiGo has dropped its plan to outright purchase aircraft, and will continue with the sale-and-leaseback model, in a bid to conserve cash for the near future.
* JAYPEE INFRATECH: Lenders of the company have rejected a proposal to appoint Vijaykumar V. Iyer as new resolution professional.
* JET AIRWAYS INDIA: Has called off the proposed wet lease agreement with TruJet as the contractual terms were not met within the stipulated time.
Has approached banks for a moratorium on loans and asked for fresh funds to ease a cash crunch, according to sources, adding to signs that the carrier is sliding deeper into trouble.
* LAURUS LABS: Transferred its abbreviated new drug application for tenofovir disoproxil fumarate to CASI Pharmaceuticals Inc.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: Has raised 5.30 bln rupees through two bonds.
* MOTILAL OSWAL FINANCIAL SERVICES: The private equity arm of financial services group Motilal Oswal has raised 23 bln rupees for its third and largest fund till date, a top company executive said.
* NITIN FIRE PROTECTION INDUSTRIES: The National Company Law Tribunal has admitted DENA BANK's insolvency plea against the company.
* OIL & NATURAL GAS CORP: Russia's Rosneft and US' ExxonMobil plan to build a liquefied natural gas plant in a consortium with India's ONGC Videsh and Japan's SODECO, spreading the estimated $15 bln cost.
* RELIANCE INDUSTRIES: Begun talks to acquire controlling stake in GTPL HATHWAY, a leading multisystem- operator that dominates the Gujarat market. Will "match" the recent 1 rupee per litre rate cut in petrol and diesel effected by state-run oil marketing companies, to prop up its share in the local market. Is testing its payments bank services among its employees, sources said, similar to how it introduced Jio mobile services nearly three years ago.
* SALZER ELECTRONICS: Withdrawn proposals to acquire Thailand-based Advanced ID Asia Engineering Co and Hong Kong-based United Marketing and Trading.
* STATE BANK OF INDIA: Wants to appoint an adviser to liaison among the separate resolution
professionals and prospective bidders for the 15 Videocon group entities that it referred to the National Company Law Tribunal.
* SUN PHARMACEUTICAL INDUSTRIES: Started marketing Ilumya drug in the US.
* TATA CONSULTANCY SERVICES: Is the only Indian company among top 10 global firms to get foreign labour certification for H-1B visas for the fiscal year 2018.
Delta Air Lines, which counts IBM, the company and Cognizant among its key information technology partners, has begun transitioning some of the middleware applications and infrastructure management services to the company.
* TATA STEEL: Agreed to sell an iron ore mine in South Africa to IMR Metallurgical Resources AG, a Switzerland-based metals and mining group, for 366 mln rand (about 1.88 bln rupees).
* TVS MOTOR CO: Has elevated K.N. Radhakrishnan as director and chief executive officer for a period of five years.
* ZYDUS WELLNESS: Kraft Heinz has agreed to sell a portfolio of Indian businesses, including children's milk drink Complan, to the company.
