Today's Stock News – 30.05.2019
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* ABAN OFFSHORE: Board has approved raising up to $400 mln by issuing foreign currency convertible bonds or global depositary receipts or American depositary receipts.
* ADANI GREEN ENERGY: Will raise $500 mln through an overseas bond sale.
* ADANI POWER: Board has recommended seeking shareholders' approval for raising up to 70 bln rupees through equity and quasi-equity instruments, that include convertible bonds or other convertible securities.
-Board has approved the appointment of Suresh Jain as chief financial officer of the company.
-All 17 lenders to GMR Chhattisgarh Energy have approved the company's bid for the 1,370 MW
pulverised coal-fired plant in Raipur.
* AIA ENGINEERING: Chief financial officer Bhupesh P. Porwal resigned due to personal reasons.
* APOLLO TYRES: Will set aside 28 bln rupees as capital expenditure in 2019-20 (Apr-Mar), primarily for commissioning its green-field manufacturing facility in Andhra Pradesh.
* ASHOKA BUILDCON: SBI Macquarie Infra Fund and the company are looking to sell stakes in toll-road projects co for 50-60 bln rupees.
* AXIS BANK: Committee of whole-time directors has approved issuing 45.3 mln shares against conversion of warrants.
* BHARTI AIRTEL: Its rights issue of over 1.13 bln shares was oversubscribed, with bids received for over 1.19 bln shares.
* CADILA HEALTHCARE: Subsidiary Zydus Pharmaceuticals USA Inc has initiated a nationwide voluntary recall of acyclovir and carvedilol tablets in the US for labelling mix-up.
* CHOLAMANDALAM INVESTMENT AND FINANCE CO: Plans to raise $222 mln from a consortium led by International Finance Corp.
* DEWAN HOUSING FINANCE CORP: Said it was not in a position to detail its standalone and consolidated earnings for 2018-19 (Apr-Mar) as it needed more time to submit the results for the entire year as per Ind-AS norms.
* GAIL INDIA: Has approached the bankruptcy court to include its claim of around 3.90 bln rupees in the insolvency resolution process of VIDEOCON INDUSTRIES.
* HCL TECHNOLOGIES: Plans to hawk a fan engagement platform it built for English Premier League side Manchester United to other sports bodies and large consumer brands in a bid to grow the higher-margin IP-led services business.
* HERO MOTOCORP: Hero FinCorp, the retail lending subsidiary, is in advanced talks to buy Reliance General Insurance from RELIANCE CAPITAL at 55-60 bln rupees.
* HOUSING DEVELOPMENT FINANCE CORP: Has disbursed subsidies worth 23 bln rupees against home loans worth 221 bln rupees under the Centre's Pradhan Mantri Awas Yojana.
* JAYPEE INFRATECH: The Committee of Creditors for the company will today consider Adani Infrastructure and Developers' revised resolution plan for the company, along with the one already submitted by NBCC (INDIA).
-Lenders of the company have asked NBCC (INDIA) to sweeten its bid to acquire the debt-laden realty firm and demanded that the public sector firm offer 1,426-acre land instead of 950 acres, besides taking onus of getting approvals from income tax and development authorities.
* LIC HOUSING FINANCE: Plans to raise at least 3 bln rupees through the issuance of bonds maturing on May 31, 2024, and has invited bids today.
* MAHINDRA & MAHINDRA: Expects tractor sales to grow a mere 5% in 2019-20 (Apr-Mar) as the
challenges of tepid rural demand, lack of availability of cheaper loans, and the transition to Bharat Stage VI emission norms persist.
* MINDTREE: LARSEN & TOUBRO is behind schedule in the launch of its open offer for shareholders of the company.
* MPHASIS: Has partnered with Bitfury to develop digital platform for financial transactions such as settlement, liquidity management, and foreign exchange.
* NAVA BHARAT VENTURES: The company will buy back shares at not over 160 rupees each by spending up to 250 mln rupees.
* ORIENTAL BANK OF COMMERCE: Canara HSBC Oriental Bank of Commerce Life Insurance has tied up with the bank to launch 'Webassurance' and point of sale product 'POS - Easy Bima Plan' services.
* RELIANCE COMMUNICATIONS: Lenders of the company, which renewed its bankruptcy proceedings, will meet today to consider the interim resolution professional's report on claims of dues filed against the company.
* RELIANCE POWER: Wednesday's board meeting to consider Jan-Mar earnings has been adjourned to Jun 7.
* RUCHI SOYA INDUSTRIES: Patanjali Ayurveda has approached state-run banks to help fund its 43.50 bln rupees acquisition of the company.
* S CHAND AND CO: HDFC Mutual Fund has sold 226,000 shares or 0.65% stake in the company at 118.49 rupees apiece through a bulk deal on the National Stock Exchange.
* SAVITA OIL TECHNOLOGIES: To buy back up to 251,000 shares at 1,605 rupees apiece.
* SPICEJET: Having inducted 22 Boeing planes that lessors withdrew from grounded airline JET AIRWAYS (INDIA)'s fleet, plans to add eight more such planes in the next two weeks.
* STATE BANK OF INDIA: Board has approved raising up to 50 bln rupees through Basel III-compliant tier II bonds, to be issued in domestic or overseas markets through a public offer or a private placement in 2019-20 (Apr-Mar).
* TATA CONSULTANCY SERVICES: Has extended its partnership with Scandinavia-based SAS airline to offer information technology solutions.
* TATA POWER CO: Subsidiary NELCO and Af-Taab Investment Co will sell their 28.15% stake in Nelito Systems to Japan's DTS Corp for 155 mln rupees.
* TATA TELESERVICES MAHARASHTRA: Board has approved raising up to 150 bln rupees through issue of redeemable preference shares to the promoters, and up to 200 bln rupees through issue of non-convertible debentures in one or more tranches.
* TRIDENT: Has raised 500 mln rupees through issuance of commercial papers maturing on Jun 28, with a tenure of 30 days.
* ULTRATECH CEMENT: Is planning to raise 2.5 bln rupees by issuing bonds maturing on Jun 4, 2024 and has invited bids on Friday.
* VAKRANGEE: Has appointed Gopal Bihani as chief operating officer and chief financial officer of retail operations.
* VEDANTA: Eurasian Resources Group and China Non-Ferrous Metals Co expressed interest in buying Konkola Copper Mines, should the Zambian government succeed in seizing it from parent Vedanta Resources.
* VODAFONE IDEA: Telecom Regulatory Authority of India is likely to seek a clarification from incumbent operators--the company and BHARTI AIRTEL--regarding variation in subscriber data
* WEST COAST PAPER MILLS: International Paper has agreed to sell its 75% stake in the company to Indian owners, SK Bangur Group, for as much as 6.50 bln rupees.
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