Today's Stock News – 15.04.2019
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* ADANI POWER: Central Electricity Regulatory Commission has approved the supplemental power
purchase agreements for 2,000 MW signed in 2007 between the Gujarat Urja Vikas Nigam and the company's wholly-owned subsidiary Adani Power (Mundra).
* APL APOLLO TUBES: The company's board has approved acquisition of assets of the production unit of SHANKARA BUILDING'S subsidiary Taurus Value Steel & Pipes at Chegunta, Hyderabad, for 700 mln rupees.
* ASHOK LEYLAND: May look at partnerships in electric vehicles segment in future in a bid to cut huge costs involved in developing new technologies in this space.
* BANK OF BARODA: Is likely to finish the process of merger of DENA BANK and VIJAYA BANK with itself in two years.
* BHARTI AIRTEL: Has received an in-principle approval from the Department of Telecommunications for merger of Tata Teleservices with itself, and the final approval will be given only after the company meets certain conditions.
* DILIP BUILDCON: Wholly-owned subsidiary DBL Borgaon Watambare Highways has received financial closure letter from National Highways Authority of India for a road project in Maharashtra.
* DIXON TECHNOLOGIES (INDIA): Has acquired its partner's 50% stake in joint venture company Padget Electronics Pvt Ltd for 270 mln rupees.
* DR REDDY'S LABORATORIES: Has entered into an agreement to acquire a portfolio of 42 approved, nonmarketed abbreviated new drug applications in the US.
* FORTIS HEALTHCARE: Malaysian health care major IHH Healthcare's open offer to pick an additional 26% in the company remains in limbo with the Supreme Court ordering a status quo on the deal.
* INDIAN HOTELS CO: New Delhi Municipal Council has signed a formal agreement with the company. As per the agreement, the Council will get 32.5% of gross turnover per month against 17.25% it was receiving earlier.
* INFOSYS: Slashed its guidance for consolidated operating margin in 2019-20 (Apr-Mar) by 100 basis points to 21-23%, and said sales are likely to grow 7.5-9.5% in constant currency terms.
* JET AIRWAYS INDIA: As the crisis at the company deepens with further grounding of its aircraft, lenders are scheduled to meet today to discuss infusion of interim funds, crucial to keep the company afloat, and to evaluate bids from parties interested in buying stake in the Indian airline.
-Pilots body, the National Aviator's Guild, Sunday deferred its "no flying" call to a later date,
particularly when the company's management is scheduled to meet the lenders today.
-Lenders to the company are unlikely to consider an initial bid from Naresh Goyal, the airline's ousted founder, to regain control of the debt-laden carrier.
-Has suspended its operations in South Asian Association for Regional Cooperation and Association of Southeast Asian Nations regions indefinitely, besides extending suspension of its services to Toronto and Paris from Chennai and back.
* JUBILANT LIFE SCIENCES: Jubilant Cadista Pharmaceuticals Inc is recalling 12,960 bottles of
Pantoprazole Sodium delayed-release tablets from the US market. Jubilant Cadista is a fully-owned subsidiary of Cadista Holdings Inc, which is a part of the company.
* KALPATARU POWER TRANSMISSION: Edelweiss Infrastructure-backed Sekura Energy and CDPQbacked China Light & Power India are in separate talks to acquire the power transmission assets of the company in a deal worth $200 mln.
* LAKSHMI VILAS BANK: The board of the bank has approved the allotment of 16.80 mln shares to
INDIABULLS HOUSING FINANCE on a preferential basis.
* LARSEN & TOUBRO: Plans to raise 15 bln rupees through the sale of bonds maturing in three years. Plans to hire 1,500 people this year, the same as in previous years.
* MASTEK: Aims to sell 12% holding in its former subsidiary MAJESCO by the end of 2019 and deploy the cash for acquisitions, as it aims a fourfold growth in business in the medium term.
* NHPC: Has firmed up plans to develop a 100 MW solar park in Odisha.
* OIL AND NATURAL GAS CORP: Has arrested a trend of declining crude oil production in its onshore fields and registered a 1.25% rise in output in 2018-19 (Apr-Mar).
* PTC INDIA FINANCIAL SERVICES: Plans to raise 20 bln rupees through a bonds issue, Managing Director and Chief Executive Officer Pawan Singh said.
* RELIANCE COMMUNICATIONS: An arbitration tribunal has ordered the company to pay BHARTI INFRATEL 392 mln rupees for prematurely exiting the towers.
* RELIANCE INDUSTRIES: Reliance Jio Infocomm's fibre network unit is raising about 270 bln rupees in syndicated loans from a group of banks.
-The company and Royal Dutch Shell plan to exit the Panna-Mukta oilfields when their contracts with the government expire this year.
* SUDARSHAN CHEMICAL INDUSTRIES: The company will sell its industrial mixing solutions operations to GMM Pfaudler Ltd for 290 mln rupees.
* SUVEN LIFE SCIENCES: On Saturday said it has received approval from a US bankruptcy court to buy assets of Rising Pharmaceuticals through its joint venture partner Shore Suven Pharma Inc.
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