Today's Stock News – 24.04.2019
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* ACC: Said its ready mix concrete business delivered a strong growth of 19% on year, partly on the back of eight new ready mix concrete plants being commissioned in Jan-Mar.
* BANK OF INDIA: Allotted 2.05% stake to the government on a preferential basis.
* BHARTI AIRTEL: The Telecom Regulatory Authority of India has directed arm Bharti Telemedia to fully comply with the regulator's new tariff norms.
-Has submitted details of its segmented offers, or those given to specific individuals, to Telecom
Regulatory Authority of India but stayed away from offering specific details sought by the sectoral watchdog, a move that could spark another confrontation between the two sides.
* COAL INDIA: Has handed over 11.31 bln rupees to Life Insurance Corp of India for managing a recently introduced pension scheme that covers 16,000-odd working and retired executives of the company.
* DR REDDY'S LABORATORIES: Recently got an approval for a $1.6-bln anti-blood clotting drug from the Chinese regulator after an 11-year wait.
* EMBASSY OFFICE PARKS REIT: Board of Embassy Office Parks Management Services, investment management of Embassy Office Parks REIT, approved raising 36.5 bln rupees through non-convertible debentures in two tranches.
* FUTURE RETAIL: Had received approval from the Competition Commission of India to raise around 20 bln rupees by issuing close to 39.6 mln equity warrants to its promoter group entity Future Coupons on a preferential basis.
* HINDUSTAN ZINC: Silver production in 2018-19 (Apr-Mar) rose 20% on year to a record high of 679 tn, making the company the world's ninth largest silver producer.
* HINDUSTAN UNILEVER: Has averaged filing about two cases of violation of its intellectual property rights and trademarks weekly in FY19, signalling a vigorous attempt to crack down on counterfeit products that use similar logos or packaging as its brands and sold at knockdown prices.
* HOTEL LEELAVENTURE: ITC on Monday filed a petition against the company with the Mumbai bench of the National Company Law Tribunal for oppression and mismanagement, and also for waiver of the requirement of minimum threshold of 10% shareholding.
* HOUSING DEVELOPMENT FINANCE CORP: The Reserve Bank of India has given its nod to the
company for acquiring up to 9.9% stake in BANDHAN BANK following the GRUH FINANCE deal.
* IDBI BANK: Sold 0.57% stake or 5.1 mln shares in Lloyds Steels Industries at 0.62 rupee apiece through a bulk deal on the National Stock Exchange.
* INDIABULLS REAL ESTATE: The Indiabulls Group is believed to have sounded out joint venture partner Blackstone and other leading players such as GODREJ PROPERTIES to offload its stake in the company.
* INDIAN OVERSEAS BANK: Karnam Sekar will take charge as managing director and chief executive officer from Jul 1.
* INFOSYS: Huawei's business arm, Huawei Cloud, and the company have signed a memorandum on strategic cooperation to jointly develop solutions around cloud computing services for business organisations.
* JAYPEE INFRATECH: Erstwhile promoter Manoj Gaur is now offering 970 mln rupees towards delay compensation, relief on stamp duty, shareholder status in the firm and one-year free maintenance on flats to homebuyers as resolution plan for the company.
* JET AIRWAYS (INDIA): The government has constituted a committee to allocate slots vacated by the company to other airlines, on a temporary basis for three months, in the "most equitable and transparent manner", the Civil Aviation Ministry said.
-Will be able to attract passengers as soon as the airline resumes its operations after receiving funding, Chief Executive Officer Vinay Dube said. Lenders have begun repossessing the airline's Boeing 777 planes over loan default. Etihad Airways has completed the due diligence process ahead of placing its financial bid for acquiring the company.
* JSW STEEL: The principal bench of the National Company Law Tribunal reserved its order on approval of the company's resolution plan for Bhushan Power and Steel.
* LUPIN: US Food and Drug Administration has classified its observations for the company's Pithampur unit- 2 as 'official action indicated'.
* MAJESCO: Entered into an agreement with Foresters Friendly Society for its digital strategy.
* MARUTI SUZUKI (INDIA): Launched a new model of the Alto with a Bharat Stage VI-compliant engine and additional safety features, starting at 293,689 rupees, ex-showroom Delhi.
* MATRIMONY.COM: Has obtained an interim injunction from the Madras High Court against Kalyan Matrimony, owned by Kalyan Jewellers, and others for infringement of its trademarks through the Google Adwords Programme and in Search Engine Optimisation.
* NBCC (INDIA): Signed an agreement with the Mauritius government for project management consultancy for construction of Mauritius Police Academy, a forensic science laboratory, a national library and national archives under three lots in Mauritius.
* POWER FINANCE CORP: The government may opt for a golden share in the company to ensure it remains a public-sector enterprise after absorbing REC.
* PROCTER GAMBLE HYGIENE & HEALTH CARE: Directorate General of Anti-profiteering has charged P&G India with profiteering from cut in goods and services tax to the extent of about 2.5 bln rupees by not passing on the benefits to consumers.
* RELIANCE INDUSTRIES: Japan's SoftBank is reportedly looking to make a $2 bln-$3 bln investment in Reliance Jio Infocomm as Chairman Mukesh Ambani looks to deleverage business by selling stakes. Retail arm of the company is testing its food and grocery app among its employees before the commercial launch of its e-commerce venture.
* SASKEN TECHNOLOGIES: Will buy back up to 1.99 mln shares at not over 850 rupees per share, for an aggregate 1.7 bln rupees. The buyback price is at a 20.4% premium to Tuesday's closing price.
* SHRIRAM CITY UNION FINANCE: Has closed its public issue of non-convertible debentures 10 days ahead of schedule, a source told Cogencis.
* SML ISUZU: Launched compressed natural gas-based Sartaj 5252 XM in the truck and ambulance
segments.
* STERLITE TECHNOLOGIES: The board has approved raising up to 10 bln rupees through non-convertible debentures, and 10 bln rupees by issuing equity shares either through qualified institutions placement or preferential allotment basis or rights issue.
* TATA GLOBAL BEVERAGES: The board has approved raising up to 4.50 bln rupees through debentures on a private placement basis. Will acquire the branded tea business of Dhunseri Tea & Industries for up to 1.01 bln rupees.
* TATA POWER CO: Will lead the nation's renewable energy transition with gradual withdrawal from building new coal-fired power plants.
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