Today Stock News – 29.10.2018
* 63 MOONS TECHNOLOGIES: In a relief for the company and its group Chief Executive Officer Jignesh Shah in the 56-bln-rupee National Spot Exchange scam case, the Bombay High Court stayed notifications for attachment of the company's assets, including bank accounts and properties, calling the state's action "in excess", arbitrary and unreasonable.
* AAVAS FINANCIERS: Will raise its prime lending rate by 35 basis points to 15.45%, effective Thursday.
* ADANI ENTERPRISES: Is nearing completion of a solar power farm in the Bowen Basin in Queensland, a region closely associated with coal mining.
* ADANI PORTS AND SPECIAL ECONOMIC ZONE: Adani Group, India's largest private port operator, is eyeing investments in Bangladesh ports through private partnerships, according to senior executives. IDBI Trusteeship Services has released the pledge on 1.56% stake in the company.
* ALEMBIC PHARMACEUTICALS: The US Food and Drug Administration has completed inspection of the company's general oral solid formulation facility at Panelav, Gujarat, and issued a form 483 with four procedural observations.
* ARVIND LTD: The Ahmedabad bench of the National Company Law Tribunal has approved the scheme of demerger of branded apparel and engineering businesses of the company into two entities.
* AXIS BANK: Entered into an agreement to sell 1.98 mln shares of National Securities Depository to HDFC BANK for 825 rupees per share, amounting to 1.63 bln rupees.
* BASF INDIA: Parent company BASF SE, Germany, may consider divesting its construction chemicals business and merge with another company.
* BHARAT FINANCIAL INCLUSION: Kotak Mahindra Mutual Fund acquired 2% stake or 2.81 mln shares in the company through open market on Wednesday.
* BHARAT PETROLEUM CORP: Will invest as much as $800 mln as equity in a liquefied natural gas project in Mozambique in which it holds a 10% stake, as the project moves closer to the final investment decision stage.
* BHARTI AIRTEL: To hasten the expansion of its fibre-to-home broadband service, the company plans to rope in local partners who would help the telecom major resolve problems related to last-mile connectivity.
-Is transforming phone networks to convert its core second generation and third generation user base to the fourth generation platform, in a bid to grab quality data customers by leveraging the surging demand for 4G services in its fight against Reliance Jio Infocomm.
* BIRLA CORP: Board of a wholly-owned subsidiary has approved expansion of cement grinding unit at Kundanganj, Uttar Pradesh, by 1.2 mtpa.
* BODAL CHEMICALS: The company expects to incur a capital expenditure of 260 mln rupees for
expansion.
* BRIGADE ENTERPRISES: Launched a residential project 'Brigade Bricklane', offering one- and twobedroom houses ranging from 37.66 sq mtr to 59 sq mtr, in Bengaluru, with prices starting 3.3 mln rupees.
* KIRLOSKAR BROTHERS: Brothers Rahul Kirloskar and Atul Kirloskar have approached the Mumbai bench of the National Company Law Tribunal to oust sibling Sanjay as chairman and managing director of the company, alleging oppression and mismanagement in the group's flagship company.
* L&T FINANCE HOLDINGS: Subsidiary L&T Infrastructure Finance Co intends to raise up to 1.5 bln rupees through unsecured redeemable non-convertible subordinate bonds that would be eligible for tier II capital.
* LIME CHEMICALS: Workers at the company's manufacturing unit in Roha, Maharashtra, have been on strike since Friday, and production at the unit has stopped.
* MRO-TEK REALTY: Promoter Umiya Holding Pvt Ltd acquired 0.08% stake, or 15,545 shares in the company, through the open market on Friday.
* NECTAR LIFESCIENCES: National Green Tribunal has directed closure of the company's unit II at Dera Bassi, Punjab.
* NTPC: Might not prioritise the availability of power purchase agreements while bidding for stressed assets under the Insolvency and Bankruptcy Code route.
* ORIENTAL AROMATICS: Board has approved subdivision of one share of face value 10 rupees each into two shares of face value 5 rupees each, and a one-for-one bonus share issue.
* PENINSULA LAND: The company, through its subsidiary Peninsula Holding and Investment, has entered into an agreement to acquire 71% stake, or 71,000 shares, at 710 rupees each, in RR Mega City Builders.
* RAYMOND: Expects revenue to grow in high-single-digit in Oct-Dec, led by a rise in retail and apparel sales, and the company sees an on-year improvement of 100 basis points in operating margin during the quarter.
* RELIANCE INDUSTRIES: Mathew Oommen, president of subsidiary Reliance Jio Infocomm, said prices of services can't be raised as there are still 400 mln feature phone users in the country who need to be catered to.
-Mukesh Ambani has won Petroleum and Natural Gas Regulatory Board's approval for selling his lossmaking east-west natural gas pipeline to Canadian investor Brookfield.
* SHRIRAM TRANSPORT FINANCE CO: The public issue of non-convertible debentures of the company was subscribed 46% till Friday and the company received bids worth 7.3 bln rupees against the total issue size of up to 13.5 bln rupees.
* SOUTH INDIA PROJECTS: IL&FS Securities Services has acquired 8.9% stake, or 447,948 shares in the company, through encumbrance on Oct 4.
* STATE BANK OF INDIA: The government said 29 authorised branches of the bank will issue the sixth round of electoral bonds, and also encash them, between Nov 1 and Nov 10.
-Is recasting its credit policy for jewellers in the wake of bankruptcies and frauds.
-Plans to raise about 266 bln rupees from sale of non-core investments, stake in subsidiaries and also from the market to shore up its capital reserves this fiscal.
* STERLING BIOTECH: A Delhi court on Friday sought response from the company's promoters following an Enforcement Directorate plea to declare them fugitive economic offenders in connection with an 81-blnrupee bank fraud case.
* STERLITE TECHNOLOGIES: Will develop open-ended digital solutions that will enable network
automation for communication service providers, businesses and citizen networks.
-Launched a new version of end-to-end fibre-to-the-point network for global communication service
providers, data centres and citizen networks.
-Telecom equipment manufacturers like the company, Nokia and Ericsson India, among others, have
committed over 40 bln rupees of investment during the India Mobile Congress 2018, Telecom Minister Manoj Sinha said.
* SYNDICATE BANK: Board will meet on Wednesday to consider issue of shares to the government on a preferential basis.
* TATA COMMUNICATIONS: Will use its acquisition of Teleena to drive its push in mobility-based internet of things solutions.
* TATA MOTORS: Launched high-performance cars under the JTP brand, which it created through a joint venture with Jayem Automotive, to attract young buyers.
* UNITED BANK OF INDIA: The board will meet on Wednesday to consider raising up to 30 bln rupees through preferential allotment of shares in one or more tranches.
* VA TECH WABAG: Chief Financial Officer Parthasarathy Gopalan has resigned from his post, effective Nov 9.
* YES BANK: The search and selection committee of the bank met with management consulting firm Korn Ferry, which has been assisting in finding a successor to Managing Director and Chief Executive Officer Rana Kapoor, and they finalised a "potential candidate profile".
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* AAVAS FINANCIERS: Will raise its prime lending rate by 35 basis points to 15.45%, effective Thursday.
* ADANI ENTERPRISES: Is nearing completion of a solar power farm in the Bowen Basin in Queensland, a region closely associated with coal mining.
* ADANI PORTS AND SPECIAL ECONOMIC ZONE: Adani Group, India's largest private port operator, is eyeing investments in Bangladesh ports through private partnerships, according to senior executives. IDBI Trusteeship Services has released the pledge on 1.56% stake in the company.
* ALEMBIC PHARMACEUTICALS: The US Food and Drug Administration has completed inspection of the company's general oral solid formulation facility at Panelav, Gujarat, and issued a form 483 with four procedural observations.
* ARVIND LTD: The Ahmedabad bench of the National Company Law Tribunal has approved the scheme of demerger of branded apparel and engineering businesses of the company into two entities.
* AXIS BANK: Entered into an agreement to sell 1.98 mln shares of National Securities Depository to HDFC BANK for 825 rupees per share, amounting to 1.63 bln rupees.
* BASF INDIA: Parent company BASF SE, Germany, may consider divesting its construction chemicals business and merge with another company.
* BHARAT FINANCIAL INCLUSION: Kotak Mahindra Mutual Fund acquired 2% stake or 2.81 mln shares in the company through open market on Wednesday.
* BHARAT PETROLEUM CORP: Will invest as much as $800 mln as equity in a liquefied natural gas project in Mozambique in which it holds a 10% stake, as the project moves closer to the final investment decision stage.
* BHARTI AIRTEL: To hasten the expansion of its fibre-to-home broadband service, the company plans to rope in local partners who would help the telecom major resolve problems related to last-mile connectivity.
-Is transforming phone networks to convert its core second generation and third generation user base to the fourth generation platform, in a bid to grab quality data customers by leveraging the surging demand for 4G services in its fight against Reliance Jio Infocomm.
* BIRLA CORP: Board of a wholly-owned subsidiary has approved expansion of cement grinding unit at Kundanganj, Uttar Pradesh, by 1.2 mtpa.
* BODAL CHEMICALS: The company expects to incur a capital expenditure of 260 mln rupees for
expansion.
* BRIGADE ENTERPRISES: Launched a residential project 'Brigade Bricklane', offering one- and twobedroom houses ranging from 37.66 sq mtr to 59 sq mtr, in Bengaluru, with prices starting 3.3 mln rupees.
* KIRLOSKAR BROTHERS: Brothers Rahul Kirloskar and Atul Kirloskar have approached the Mumbai bench of the National Company Law Tribunal to oust sibling Sanjay as chairman and managing director of the company, alleging oppression and mismanagement in the group's flagship company.
* L&T FINANCE HOLDINGS: Subsidiary L&T Infrastructure Finance Co intends to raise up to 1.5 bln rupees through unsecured redeemable non-convertible subordinate bonds that would be eligible for tier II capital.
* LIME CHEMICALS: Workers at the company's manufacturing unit in Roha, Maharashtra, have been on strike since Friday, and production at the unit has stopped.
* MRO-TEK REALTY: Promoter Umiya Holding Pvt Ltd acquired 0.08% stake, or 15,545 shares in the company, through the open market on Friday.
* NECTAR LIFESCIENCES: National Green Tribunal has directed closure of the company's unit II at Dera Bassi, Punjab.
* NTPC: Might not prioritise the availability of power purchase agreements while bidding for stressed assets under the Insolvency and Bankruptcy Code route.
* ORIENTAL AROMATICS: Board has approved subdivision of one share of face value 10 rupees each into two shares of face value 5 rupees each, and a one-for-one bonus share issue.
* PENINSULA LAND: The company, through its subsidiary Peninsula Holding and Investment, has entered into an agreement to acquire 71% stake, or 71,000 shares, at 710 rupees each, in RR Mega City Builders.
* RAYMOND: Expects revenue to grow in high-single-digit in Oct-Dec, led by a rise in retail and apparel sales, and the company sees an on-year improvement of 100 basis points in operating margin during the quarter.
* RELIANCE INDUSTRIES: Mathew Oommen, president of subsidiary Reliance Jio Infocomm, said prices of services can't be raised as there are still 400 mln feature phone users in the country who need to be catered to.
-Mukesh Ambani has won Petroleum and Natural Gas Regulatory Board's approval for selling his lossmaking east-west natural gas pipeline to Canadian investor Brookfield.
* SHRIRAM TRANSPORT FINANCE CO: The public issue of non-convertible debentures of the company was subscribed 46% till Friday and the company received bids worth 7.3 bln rupees against the total issue size of up to 13.5 bln rupees.
* SOUTH INDIA PROJECTS: IL&FS Securities Services has acquired 8.9% stake, or 447,948 shares in the company, through encumbrance on Oct 4.
* STATE BANK OF INDIA: The government said 29 authorised branches of the bank will issue the sixth round of electoral bonds, and also encash them, between Nov 1 and Nov 10.
-Is recasting its credit policy for jewellers in the wake of bankruptcies and frauds.
-Plans to raise about 266 bln rupees from sale of non-core investments, stake in subsidiaries and also from the market to shore up its capital reserves this fiscal.
* STERLING BIOTECH: A Delhi court on Friday sought response from the company's promoters following an Enforcement Directorate plea to declare them fugitive economic offenders in connection with an 81-blnrupee bank fraud case.
* STERLITE TECHNOLOGIES: Will develop open-ended digital solutions that will enable network
automation for communication service providers, businesses and citizen networks.
-Launched a new version of end-to-end fibre-to-the-point network for global communication service
providers, data centres and citizen networks.
-Telecom equipment manufacturers like the company, Nokia and Ericsson India, among others, have
committed over 40 bln rupees of investment during the India Mobile Congress 2018, Telecom Minister Manoj Sinha said.
* SYNDICATE BANK: Board will meet on Wednesday to consider issue of shares to the government on a preferential basis.
* TATA COMMUNICATIONS: Will use its acquisition of Teleena to drive its push in mobility-based internet of things solutions.
* TATA MOTORS: Launched high-performance cars under the JTP brand, which it created through a joint venture with Jayem Automotive, to attract young buyers.
* UNITED BANK OF INDIA: The board will meet on Wednesday to consider raising up to 30 bln rupees through preferential allotment of shares in one or more tranches.
* VA TECH WABAG: Chief Financial Officer Parthasarathy Gopalan has resigned from his post, effective Nov 9.
* YES BANK: The search and selection committee of the bank met with management consulting firm Korn Ferry, which has been assisting in finding a successor to Managing Director and Chief Executive Officer Rana Kapoor, and they finalised a "potential candidate profile".
