Today's Stock News – 12.04.2019
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* COAL INDIA: Projects and Development India is believed to have emerged as the successful bidder to provide engineering services for the setting up of a coal-based methanol plant in West Bengal by the comapny.
* BHARTI AIRTEL: The Department of Telecommunications has given approval for the merger of Tata Teleservices with the company, subject to the condition that the Sunil Bharti Mittal-led firm furnishes 72 bln rupees of bank guarantee.
* DEWAN HOUSING FINANCE CORP: Brickwork Ratings India has downgraded the non-convertible debentures of the company to AA- from AA, while maintaining the outlook on the rating at 'watch with negative implications'.
* FORTIS HEALTHCARE: The Supreme Court has reserved its orders in Daiichi Sankyo's contempt petition against former Fortis' promoters Malvinder Singh and Shivinder Singh, however, the bench headed by Chief Justice Ranjan Gogoi did not give the date for pronouncing the order.
* HT MEDIA: Plans to acquire an additional 24.63 mln shares or 36.82% stake of Next Mediaworks.
* IDBI BANK: The board will meet on Tuesday to consider granting in-principle approval to a proposed employee stock purchase scheme.
-Will cut its marginal cost of funds-based lending rates on tenures ranging from overnight to two years by 5-10 basis points, effective today.
* JET AIRWAYS INDIA: Grounded 10 more aircraft due to non-payment of dues to lessors.
-Etihad Airways has formally communicated its intent to raise its stake in the company.
-Lenders to the company are unwilling to release 15 bln rupees of emergency funding to the debt-laden airline in one instalment despite promoter Naresh Goyal pledging 41.2% of his shares.
-Has cancelled all west-bound long-haul international flights from Thursday night till today. This
includes flights to London, Paris and Amsterdam.
* JSW STEEL: Plans to ramp up the production capacity at its Vijayanagar plant in Karnataka to 18 mln tn per annum from the current 12 mtpa with an investment of about 180 bln rupees.
* NARAYANA HRUDAYALAYA: Formed a US-based wholly-owned subsidiary Narayana Health North America LLC on Tuesday.
* STERLITE TECHNOLOGIES: Board will meet on Apr 23 to consider raising funds through equity, debt.
* SUN PHARMACEUTICAL INDUSTRIES: The group's senior executive, Abhay Arvind Gandhi, and his wife Kiran have settled with Securities and Exchange Board of India a case related to insider trading in shares of Ranbaxy Laboratories in 2014. Both have paid a total of over 7 mln rupees as settlement charges.
* SUTLEJ TEXTILES & INDUSTRIES: The company's board will meet on May 9 to seek shareholders' approval to raise up to 5 bln rupees, in one or more tranches, through issue of securities like equity, debt, bonds, non-convertible debentures, among others.
* VEDANTA: Cairn India's Chief Executive Officer Sudhir Mathur and Chief Financial Officer Pankaj Kalra, have resigned.
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