Today's Stock News – 17.06.2019
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* ALLSEC TECHNOLOGIES: Open offer of QUESS CORP subsidiary Conneqt Business Solutions to acquire 3.96 mln shares or 26% stake in the company will open on Jun 21 and close on Jul 4.
* AUROBINDO PHARMA: Plans capital expenditure of up to $200 mln and over 5% of sale value on research and development during 2019-20 (Apr-Mar).
* BHARAT FINANCIAL INCLUSION: Has assigned a pool of receivables aggregating 15.46 bln rupees to a private sector bank on a direct assignment basis.
* BHARAT HEAVY ELECTRICALS: Won two orders worth 8 bln rupees for setting up solar energy capacity of 200 MW; its solar photovoltaic portfolio has touched 1,000 MW mark with these orders.
* BHARTI AIRTEL: The Department of Telecommunications has backed penalties of 30.50 bln rupees on the company and VODAFONE IDEA for allegedly denying Reliance Jio Infocomm adequate points of interconnection in 2016.
* CADILA HEALTHCARE: Subsidiary Alidac Pharmaceuticals has received establishment inspection report for its Ahmedabad facility from the US Food and Drug Administration.
-Subsidiary Nesher Pharmaceuticals has received the US Food and Drug Administration's final
approval for a generic of GlaxoSmithKline Plc's Lovaza in 1 gram capsules.
* COROMANDEL INTERNATIONAL: Gujarat State Pollution Control Board has revoked an order directing the company to close its Sarigam unit after a fire broke out in the plant.
* CORPORATION BANK: Plans to raise up to 50 bln rupees through issuance of fresh equity shares, debt instruments on private placement basis, rights issue or through qualified institutional placement in 2019-20 (Apr- Mar).
* DEWAN HOUSING FINANCE CORP: Paid interest and principal of 1 bln rupees on non-convertible debentures due on Friday.
* DIVI'S LABORATORIES: The US Food and Drug Administration has cleared the company's Chippada unit in Andhra Pradesh with zero observations.
* FDC: The US Food and Drug Administration has approved the company's abbreviated new drug application for the generic of Cosopt drug.
* FORTIS HEALTHCARE: Repaid a term loan of 11 bln rupees to Citibank.
-Has decided to close a bidding and search process to explore the possibility of sale of interest in RHT Health Trust and RHT Health Trust Manager.
* HOUSING AND URBAN DEVELOPMENT CORP: Plans to raise at least 3 bln rupees through bonds maturing on Jul 15, 2022 and has invited bids on Tuesday.
* JAYPEE INFRATECH: The company's creditors, which include banks and home buyers, will meet on Thursday to assess the progress of the ongoing insolvency process and decide the future course of action.
* JET AIRWAYS (INDIA): Decision on the grounded airline likely today, lenders meeting to finalise how a resolution will be possible under the Jun 7 Reserve Bank of India mandate on stressed assets.
* JSW STEEL: Is in talks with private equity firm KKR to fund its acquisition of Bhushan Power and Steel.
* LAURUS LABS: The US Food and Drug Administration has completed audit of active pharmaceutical ingredient facilities at unit-1 and unit-3 located at Parawada, near Visakhapatnam, with two observations.
* LUPIN: Recalling over 18,000 bottles of Cefdinir for oral suspension, used to treat bacterial infections, from the US market.
* MAHINDRA & MAHINDRA: Will acquire 11.25% stake in Switzerland-based Gamaya SA for 300 mln rupees. The company and Ford India will jointly develop nine sports utility vehicles from 2020, with a combined investment of over $600 mln.
* NEW DELHI TELEVISION: Securities and Exchange Board of India has barred Chairperson Prannoy Roy and Executive Director Radhika Roy from holding any key managerial positions in the company for two years. Promoters RRPR Holdings, Prannoy Roy, and Radhika Roy are in the process of moving the Securities Appellate Tribunal against the SEBI order.
* OIL AND NATURAL GAS CORP: Will shortly auction more than 60 of its discovered small and marginal fields to private companies.
* POWER GRID CORP OF INDIA: The government has extended Chairman and Managing Director Ravi P. Singh's tenure by six months.
* PUNJAB NATIONAL BANK: Has invited bids for sale of six non-performing loan accounts aggregating 10.04 bln rupees.
* RELIANCE CAPITAL: The company's offer-for-sale of RELIANCE NIPPON LIFE ASSET
MANAGEMENT was subscribed 342% by retail investors.
* SMARTLINK HOLDINGS: Will buy back up to 4.2 mln shares at a price not exceeding 130 rupees per share through tender offer route.
* TIME TECHNOPLAST: Allotted 405 mln rupees of bonds maturing on Apr 1, 2023.
* UNITED BANK OF INDIA: Has cut its marginal cost of funds-based lending rates by 5 basis points across tenures, with effect from Monday.
* VEDANTA: Lost about $200 mln in profits ever since its copper smelter plant in Tamil Nadu was shut more than a year back after police opened fire on protesters and killed 13 people, group Chairman Anil Agarwal said.
* YES BANK: Private equity investors Blackstone Group, Apax Partners and Warburg Pincus are seeking more details of the bank's exposure to stressed loan accounts before committing to an equity infusion, potentially delaying the lender's fundraising plan.
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