Today's Stock News – 23.07.2019
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* 63 MOONS TECHNOLOGIES: The National Company Law Appellate Tribunal has permitted the company to sell 55% stake in a subsidiary—Atom Technologies to Japanese-based NTT Data for $9 mln.
* ALEMBIC PHARMACEUTICALS: Has received the US Food and Drug Administration's initial approval for Dapagliflozin drug.
* ALKEM LABORATORIES: Has received approval from the US Food and Drug Administration for generic of Focalin, Lyrica.
* ALLIED DIGITAL SERVICES: In consortium with KEC INTERNATIONAL, has bagged a smart city project in Bidkin, near Aurangabad in Maharashtra.
* ALPHAGEO INDIA: Has received an order worth 7.2 mln rupees from The Mineral Exploration Corp to provide two-dimension seismic data acquisition services for manganese ore in Rengali block in Odisha.
* BSE: Has signed a memorandum of understanding with Shanghai Stock Exchange to develop trading channels for the financial services industry in China and India.
* CAIRN INDIA: The Securities Appellate Tribunal has asked Securities and Exchange Board of India to probe if the company and VEDANTA violated securities laws while withholding dividends payable to Cairn UK Holdings.
* DEWAN HOUSING FINANCE CORP: Auditors raised several doubts over the company's financials. Auditors have said that various developments "raise a significant doubt on the ability of the company to continue as a going concern".
-Alaska Permanent Fund sold 2.98 mln shares or 0.95% stake in the company at 53.06 rupees a share
through a bulk deal on the National Stock Exchange.
-The board has said that it is on course to restructure its loans with Chairman Kapil Wadhawan to hold a meeting of shareholders, even as the embattled home financier examines non-binding agreements for a stake sale to keep the company afloat.
* DR REDDYS LABORATORIES: Has received approval from the US Food and Drug Administration to market pregabalin capsules, a generic version of Pfizer Inc's Lyrica.
* GARDEN REACH SHIPBUILDERS & ENGINEERS: UTI Asset Management Co sold 671,160 shares or 0.6% stake in the company at 129.74 rupees a share through a bulk deal on NSE.
* HINDUSTAN PETROLEUM CORP: Yet another keenly watched quarterly share holding pattern
announcement from the company has failed to provide clarity on its promoter after OIL & NATURAL GAS CORP bought the government's 51.11% stake in the Mumbai-based state-run oil refiner for 369.15 bln rupees in January 2018.
* INDIABULLS HOUSING FINANCE: May invest 2.5 bln rupees in LAKSHMI VILAS BANK via bonds as the bank looks to boost its capital to comply with the capital needs for its pending merger with the mortgage firm.
* INDIAN OIL CORP: Has set a target to invest another 1 trln rupee in Odisha, as it intends to set up
petrochemical units, notably a naphtha cracker unit.
* INFOSYS: Has formed a dedicated unit, "Lead Technology Group" comprising 60 engineers, to provide futuristic solutions that can be used in delivery of services to clients.
* INTELLECT DESIGN ARENA: Reliance Mutual Fund sold 2.1% stake or 2.76 mln shares in the company through the open market on Thursday.
* INTERGLOBE AVIATION: The feuding co-founders of the company, Rahul Bhatia and Rakesh Gangwal, are working towards a compromise formula that may result in every related party transaction in the company being vetted by independent directors.
-The Securities and Exchange Board of India will seek more information from the company as part of
its probe into alleged corporate governance lapses.
* JAYPEE INFRATECH: The National Company Law Appellate Tribunal reserved its order on whether the company will be granted more time to continue with insolvency proceedings.
* MAHANAGAR TELEPHONE NIGAM: A huge fire broke out in a building in Mumbai's Bandra
West area, according to various media reports. The building houses an office of the company.
* MAHINDRA & MAHINDRA: Soon, people working at the company will have a bot popping up on their computer screens, making random conversations on different topics.
* NTPC: Will seek shareholders' approval to raise 150 bln rupees through issuance of bonds or debentures and to raise borrowing limit to 2 trln rupees, next month.
* RELIANCE COMMUNICATIONS: Lenders to the company have decided to send a demand notice to Ericsson, asking the Swedish telecom equipment maker to refund the 5.8 bln rupees that it received from the erstwhile Anil Ambani owned telco under a Supreme Court directive.
* RELIANCE INDUSTRIES: Reliance Jio Infratel will soon be fully-controlled by a Brookfield led consortium, may raise an additional 100 bln rupees of long-term debt after the deal closes to clear financial liabilities.
-The digital communications commission is scheduled to meet on Wednesday to deliberate on
imposition of penalty on incumbent operators for not providing enough interconnect points to Reliance Jio in 2016 when it had commenced operations, and reserve price for the next round of auctions.
-An arbitration tribunal has been constituted to resolve the dispute between the company-BP and
Canadian firm Niko Resources over payment defaults related to field development cost by the latter for its 10% participating interest in the KG-D6 gas block.
* STATE BANK OF INDIA: Board of joint venture SBI Cards and Payment Services will meet on Thursday to consider raising up to 10 bln rupees through non-convertible debentures.
* SUN PHARMACEUTICAL INDUSTRIES: Has received tentative approval from the US Food and Drug Administration for Erlotinib.
* TATA POWER: Is looking to scale down its international business by selling off its non-core assets and looks to double down in India, as it sees an upsurge in demand for power business in the country.
* TVS MOTOR CO: Wholly-owned subsidiary TVS Motor (Singapore) has signed definitive agreements to invest $7 mln in US-based Scienaptic Systems through series A funding.
* UNITED SPIRITS: The Debt Recovery Tribunal attached 3.31 mln shares or 0.45% stake in the company held by promoter United Breweries (Holdings) on Friday.
* VOLTAS: The Tata group is looking at the possibility of hiving off the projects business of the company and merging it with Tata Projects.
* ZEE ENTERTAINMENT ENTERPRISES: Owned over-the-top platform ZEE5 has entered into a strategic tieup with Israel-based Optimove to bolster the performance of the platform based on a suite of services backed by insight, engagement and optimisation.
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