Today's Stock News – 01.08.2019
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* APOLLO HOSPITAL ENTERPRISES: Japanese conglomerates Mitsui & Co and Itochu Corp, as well as Abu Dhabi Investment Authority are in separate talks with the company to invest $350 mln-$400 mln to buy part of their stake in the group holding company PCR Investments.
* ASHOK LEYLAND: Board has approved to offer or invite subscriptions for bonds, non-convertible
debentures, in one or more tranches, aggregating up to 6 bln rupees, subject to approval of the shareholders.
* BAJAJ AUTO: Promoters have increased their ownership in the top three companies of the Bajaj group--the company, BAJAJ FINANCE and BAJAJ FINSERV--by 2-3% in the June quarter, compared with the March quarter.
* BHARAT ELECTRONICS: The government, on Jul 22, sold 70.43 mln shares or 2.9% stake in the company to RELIANCE NIPPON LIFE ASSET MANAGEMENT, which is the asset management company of the central public sector enterprises exchange-traded fund scheme.
* BHARTI AIRTEL: The Digital Communications Commission, which met last week, was split on the decision to impose cumulative penalties of 30.5 bln rupees on the company and VODAFONE IDEA. Of the seven members present at the meeting, two opposed the levy while a third backed an extended tenure for paying the penalty.
* BOSCH: Will suspend all manufacturing operations of its Bidadi plant in Karnataka from Thursday till Saturday to adjust production to meet the demand for products, and to avoid unnecessary build up of inventory.
* COFFEE DAY ENTERPRISES: DSP Mutual Fund's credit risk scheme has marked down the value of its investments in the non-convertible debentures of Coffee Day Natural Resources Ltd, a company owned by the promoter of the company, by 50%.
-Late founder V.G. Siddhartha had taken on debt of more than 10 bln rupees through entities that
housed his personal holdings.
-The board is planning to selectively sell assets of the V.G. Siddhartha-founded company to pare debt
incurred by the group's 52 units.
* DELTA CORP: Smaller Cap World Fund Inc has sold 1.59 mln shares or 0.59% stake in the company at 144 rupees a share through a bulk deal on the National Stock Exchange.
* DLF: Provided a sales guidance of 27 bln rupees for 2019-20 (Apr-Mar).
* DEWAN HOUSING FINANCE CORP: Completed the sale of 50% of its stake in DHFL Pramerica Asset Managers, and DHFL Pramerica Trustees to PGLH of Delaware Inc.
* GMR INFRASTRUCTURE: Board will meet on Monday to consider raising up to 25 bln rupees through issue of equity shares or debentures in one or more tranches, and up to 2.3 bln rupees through issue of four optionallyconvertible debentures.
* HOUSING DEVELOPMENT FINANCE CORP: Will reduce its retail prime lending rate by 10 basis points, effective today, which will benefit its customers.
* IDBI BANK: Said it does not have any exposure to the Coffee Day Enterprises group.
* INDIABULLS HOUSING FINANCE: Jasmine Capital Investments has acquired 8.78 mln shares or 2.1% stake in the company.
* INDIABULLS VENTURES: Has executed a business transfer agreement with its wholly-owned subsidiary Indiabulls Securities for slump sale of the stock broking business of the company.
* LAKSHMI VILAS BANK: Eriska Investment Fund sold 0.63% stake or 2 mln shares of the bank at 47.80 rupees apiece in a bulk deal on the National Stock Exchange.
* LAURUS LABS: Received US Food and Drug Administration's approval for generic of Truvada drug.
* MAHINDRA & MAHINDRA: Mahindra Susten, the renewable business arm of Mahindra group, which is in the process of selling 160 MW of solar assets, has received interest from two potential buyers, CLP India and the Piramal group.
* MATRIMONY.COM: BharatMatrimony, part of the company, has obtained an interim injunction against Shaadi.com, owned by People Interactive, from the Madras High Court for infringement of its trademarks and website Uniform Resource Locators.
* MINDTREE: Has joined Hyperledger project to accelerate the development and offer industry-specific blockchain solutions.
-Executive Chairman Krishnakumar Natarajan, Executive Vice Chairman and Chief Operating Officer N.S. Parthasarathy and Chief Executive Officer and Managing Director Rostow Ravanan, have been relieved from the service of the company, effective Wednesday.
* PUNJAB NATIONAL BANK: Will cut its marginal cost of fund based lending rate by 10 basis points across tenures, effective today.
* RELIANCE INDUSTRIES: Amazon is in exploratory talks with Reliance Retail to acquire up to 26% in brickand- mortar retailer.
* SML ISUZU: Looks to capitalise towards electrification and come out with a new electrified portfolio, which it will showcase at the upcoming Auto Expo in February 2020.
* UNICHEM LABORATORIES: US Food and Drug Administration has issued form 483 with four observations to the company's Goa formulation facility, with no repeat observations and mostly procedural in nature.
* WIPRO: Buyback offer will open on Aug 14 and close on Aug 28.
* ZEE ENTERTAINMENT ENTERPRISES: Said that Invesco Oppenheimer Developing Markets Fund has agreed to buy up to 11% stake in the company from the promoter Essel Group for 42.24 bln rupees.
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