Today's Stock News – 24.06.2019
KEEP REFRESH FOR NEXT UPDATE
தினமும் வீட்டில் இருந்து பணம் சம்பாதியுங்கள் Click Here :- Register for Free Training
Whatsapp Number : 91-9094047040 / 91-9841986753
RUPEEDESK - SHARE MARKET TRAINING
* AAVAS FINANCIERS: Managing Director and Chief Executive Officer Sushil Kumar Agarwal has sold 50,000 shares of the company on Friday to discharge his Employee Stock Option Plan funding liability.
* ALKEM LABORATORIES: Has received tentative approval from the US Food and Drug Administration for Roflumilast drug.
* APOLLO HOSPITALS ENTERPRISE: Is targeting a reduction in its debt to 25 bln rupees, from over 30 bln rupees now, by the end of this financial year by using the funds from its stake sale in Apollo Munich Health Insurance to HDFC.
* BANK OF BARODA: board will meet on Thursday to consider opening balance sheet of the amalgamated bank as on Apr 1, after the amalgamation of Vijaya Bank and Dena Bank with the bank.
* BHARAT HEAVY ELECTRICALS: Received order worth 8.40 bln rupees from NTPC arm.
* BOMBAY CYCLE & MOTOR AGENCY: Board has approved the issuance of bonus shares in the ratio of one share for every one share, of 10-rupee face value, held by the company's shareholders.
* CARE RATINGS: Chief Financial Officer Nitinkumar Agrawal has resigned, effective Jul 18.
* CIPLA: Independent Director Peter Lankau has resigned, effective Jul 1, due to other professional
engagements in the US that may result in conflict of interest.
* CG POWER AND INDUSTRIAL SOLUTIONS: Board has approved the sale of 13 acres of land in Mumbai to Evie Real Estate for 4.9 bln rupees.
* DEWAN HOUSING FINANCE CORP: Lenders to the company will meet in the first week of July to hammer out a rescue package, which will include the reworking of loan payments, fresh working capital, roping in a financial investor, and putting a new management team in place. Board will meet Saturday for declaration of Jan- Mar earnings.
* DLF: Singapore's sovereign wealth fund GIC is strengthening its alliance with the company as it seeks to participate in helping build the country's biggest retail mall of more than 2.5 mln sq ft.
* DR REDDYS LABORATORIES: US Food and Drug Administration has issued two observation for the company's Duvvada unit. Has launched generic of phytonadione injection in the US.
* GLENMARK PHARMACEUTICALS: US Food and Drug Administration has cited deficiency at one of the units that makes active pharmaceutical ingredients which is used in Ryaltris, a drug made by company.
* HERO MOTOCORP: Is looking at exporting its excess BS-IV stock to neighbouring countries as it plans to launch the BS-VI compliant vehicles in the country at the earliest to ensure a smooth transition before the new emission norms come into effect from April 1, 2020.
* IFCI: Hopes to garner about 30 bln rupees in the current fiscal year by selling stake in the National Stock Exchange, Clearing Corp of India and Stock Holding Corp of India.
* IL&FS INVESTMENT MANAGERS: BSR & Associates LLP has resigned as the statutory auditor of the company due to recent investigations initiated by various regulatory authorities in relation to parent Infrastructure Leasing & Financial Services Ltd and its affiliate companies.
* INDUSIND BANK: Has cut its marginal cost of funds-based lending rates by 10-15 basis points across tenures, effective Saturday. The Hindujas will pump another 27 bln rupees into the bank through a warrant issue to ramp up the promoter holding after the merger of Bharat Financial.
* INFOSYS: Has tasked its leadership team with integrating technologies from Panaya and Skava with its offerings in retail, consumer products and manufacturing, after failing to find any buyers for the two units it had put on the block.
* JAIN IRRIGATION SYSTEMS: Fitch Ratings has downgraded the company's long-term issuer default rating to 'B-' from 'B+'.
* JBM AUTO: New Delhi bench of the National Company Law Tribunal, on Jun 14, approved merger of subsidiary JBM Auto System with the company.
* JET AIRWAYS (INDIA): Ashish Chhawchharia, the new insolvency resolution professional appointed by the National Company Law Tribunal, has told the pilots and staff that their salary dues may not be settled fully as the company is undergoing the insolvency process.
* MAX INDIA: Radiant Life Care has completed acquisition of 49.7% stake in Max Healthcare Institute from South Africa-based hospital operator Life Healthcare.
* MBL INFRASTRUCTURES: Has received completion certificates for the construction of 96 flats for Madhya Pradesh Housing and Infrastructure Development Board in Bhopal.
* MSTC: Has signed an agreement with the Uttar Pradesh government for e-procurement of sugar. COAL INDIA and South Eastern Coalfields have extended the selling agency agreement with the company for five years and two years, respectively, for disposal of scrap plant and machinery, vehicles, surplus stores and spares.
* NTPC: Fitch Ratings has affirmed the company's long-term foreign- and local-currency issuer default ratings at 'BBB-'. The company and POWER GRID CORP OF INDIA have formed a joint venture to set up National Electricity Distribution Co.
* OIL & NATURAL GAS CORP: May buy 56.15 bln rupees of compulsorily convertible debentures of ONGC Petro Additions after failing to find an equity investor for its petrochemicals arm.
HINDUSTAN PETROLEUM CORP has, for the last 15 months, refused to recognise the company as its promoter but the government has now started giving ONGC its due recognition.
* PIRAMAL ENTERPRISES: Said no proposal to raise funds from marquee investors has been placed before the board or any of its committees.
* PRICOL: Board has approved divestment of stake in wholly-owned subsidiaries Pricol Espana Sosiedad and Pricol Wiping Systems India to US-based Chroma GP LLC for 100,000 euros (7.93 mln rupees).
* PUNJAB & SIND BANK: Plans to raise at least 2 bln rupees through the issuance of Basel III-compliant tier-II bonds maturing in 10 years and has invited bids on Tuesday.
* RBL BANK: Has cut its marginal cost of funds-based lending rates by 5 basis points across tenures, effective Saturday.
* RELIANCE CAPITAL: Will repay 750 mln rupees of commercial papers which are set to mature on Jul 24.
* RELIANCE INFRASTRUCTURE: India Ratings and Research has downgraded the company's long-term issuer rtg to 'D' from 'C'.
* RELIANCE POWER: Has started the process to sell its coal mines in Indonesia and is expected to close the deal in few months.
* SOBHA LTD: Promoter Sobha Menon sold 4.22% stake or 4 mln shares of the company on Friday.
* STAR CEMENT: Board has decided not to proceed with the merger of its wholly-owned subsidiary
Megha Technical and Engineers with the company. Will buy back up to 6.8 mln shares at 150 rupees per share.
* STATE BANK OF INDIA: Six private equity funds including PremjiInvest, Carlyle, ChrysCapital and GIC of Singapore, are among those in the shortlist for picking up 26% stake in SBI General Insurance that will cost the acquirer about 30 bln rupees.
* SUN PHARMACEUTICAL INDUSTRIES: Said its drug manufacturing facility at Halol, Gujarat, has received four observations from the US Food and Drug Administration.
* SUZLON ENERGY: Has told its lenders that Canadian investor Brookfield is keen to acquire a majority stake in it, which would help the cash-strapped renewable energy company settle its loans if the lenders were to give a waiver.
* TATA POWER CO: Is exploring establishment of an infrastructure investment trust for its near 3-GW renewable energy portfolio to deleverage its balance sheet by a fourth and raise growth equity from investors.
* TATA STEEL: The company's standalone net debt for the full year ended March 2019 more than trebled to 284.71 bln rupees, from 87.69 bln rupees a year ago, because of a decrease in current investments along with cash and bank balances.
* TVS MOTOR CO: The Indian automobile industry will face multiple challenges in 2019-20 (Apr-Mar) such as those related to Bharat Stage VI emission norms, high inventory with dealers, slowdown in economic activity, and global trade uncertainty, the company said in its annual report for 2018-19.
* UPL: Has set Jul 3 as the record date for issue of bonus shares.
* VEDANTA: Will focus on improving performance in its three key businesses -- aluminium, oil and gas and zinc, lead and silver -- in 2019-20 (Apr-Mar).
Our Blog Information Learning purpose only
(Paper Trading Practice for Currency, Equity, Commodity Segment)
Register For Free Equity Tips Trial: http://rupeedesk.in/rupeedeskfree-calls
