#Today's Stock News – 26.07.2019
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* AMARA RAJA BATTERIES: Nalanda India Equity Fund bought 2.1% stake or 3.54 mln shares in the company through open market on Wednesday.
* ASHOK LEYLAND: Launched its midi-bus Oyster in India.
* AVENUE SUPERMARTS: Raised 300 mln rupees on Thursday through the issue of commercial papers maturing Oct 23.
* BAJAJ FINANCE: Plans to raise as much as $1.2 bln in a share sale to boost capital.
* BANK OF BARODA: Has joined the startup bandwagon, launching a new programme to lend to startups as it seeks to catch these fast-growing companies in their formative years.
* BHARTI AIRTEL: A plan by the company, Warburg Pincus and Singapore Telecommunications to
collectively buy the promoter stake of Zee founder Subhash Chandra's family in DISH TV INDIA has hit an air pocket following a sharp fall in the DTH operator's stock price since April.
* BHARTI INFRATEL: With almost all approvals in place, the merger of Indus Towers with the company is likely to be completed by August-end, the management of the Bharti Group company said.
* CLARIANT CHEMICALS (INDIA): The company's global holding company and SABIC have agreed to temporarily suspend discussions on the intended merger of high performance materials business.
* COX & KINGS: Said Bombay High Court has allowed STATE BANK OF INDIA to make payment of amount under the bank guarantee of 243 mln rupees.
* DEWAN HOUSING FINANCE CORP: Has sought relaxation of original loan terms in the resolution plan it has put forward before lenders.
* DR REDDY'S LABORATORIES: AstraZeneca has filed a petition in a US court alleging the company is attempting to come out with generic version of its patented blockbuster drug Brilinta (Ticagrelor) in the US market before the expiration of a patent of the drug.
* FUTURE ENTERPRISES: The company's Chief Financial Officer Dinesh Maheshwari was released on Wednesday after Calcutta High Court granted him bail a day earlier.
* FUTURE LIFESTYLE FASHIONS: Blackstone has stitched up a $250 mln investment in the company.
* HOTEL LEELAVENTURE: Has sought more time from the National Company Law Tribunal to complete the sale of hotels to Brookfield Asset Management, as the company can now proceed to get shareholders' approval. The tribunal will hear the case next on Sep 27.
-Promoters of the company said Securities and Exchange Board of India order has held that its
proposed transaction with Brookfield was not a 'related party transaction' as the latter is simultaneously entering into a separate contract with the promoters for a transfer of the brand.
* IIFL FINANCE: Plans its first public bond sale this financial year to raise up to 10 bln rupees.
* INDIABULLS HOUSING FINANCE: Is eyeing chairman and managing director post in the bank post merger with LAKSHMI VILAS BANK.
* JINDAL STEEL & POWER: A special court of the Central Bureau Investigation on Thursday framed charges against company Chairman Naveen Jindal for fraud and criminal conspiracy in allocation of a coal block in Madhya Pradesh.
* JSW STEEL: Has no plan to reduce debt as of now as it is currently in the mid of a large capital expenditure programme to increase capacities, Chairman Sajjan Jindal said.
-The timeframe for the resolution of Monnet Ispat & Energy will not be delayed because of the
ongoing downtrend in the steel industry, said Seshagiri Rao, the joint managing director and group chief financial officer of the company.
* NEWGEN SOFTWARE TECHNOLOGIES: The company's US-based subsidiary Newgen Software Inc has received patent for its intelligent cheque deposit machine.
* PNB HOUSING FINANCE: General Atlantic is in talks to raise stake in the company, by pumping in close to 12 bln rupees through a planned preferential allotment of shares.
* PUNJAB NATIONAL BANK: Board has approved raising up to 50 bln rupees via equity.
* RELIANCE INDUSTRIES: Is making a second attempt in hydrocarbon exploration and production sector.
* RELIANCE INFRASTRUCTURE: KBC Equity Fund has bought 3.29 mln shares, or 1.25% stake, in the company at 47.43 rupees apiece through a bulk deal on the National Stock Exchange.
* RUCHI SOYA INDUSTRIES: The National Company Law Tribunal on Thursday approved Patanjali Ayurved's 43.5-bln-rupee resolution plan for the company.
* SHRIRAM TRANSPORT FINANCE CO: International Finance Corp will provide a $200 mln funding line to the company to fund purchases of commercial vehicles and support micro, small, and medium enterprises.
-New World Fund Inc sold 1.51 mln shares, or 0.67% stake, in the company at 978.68 rupees apiece
through a bulk deal on the National Stock Exchange.
* STEEL AUTHORITY OF INDIA: Has got approval from the Indian Register of Shipping to manufacture special shipbuilding grade plates.
* TATA STEEL: Has infused 12.9 bln rupees in TATA SPONGE IRON through a rights issue. Has acquired 25.8 mln shares of TATA SPONGE IRON at 500 rupees a share.
* TECHNO ELECTRIC & ENGINEERING CO: Received an order worth 3.7 bln rupees from Damodar Valley Corp for setting up a flue gas desulphurisation system for a 500 MW thermal power station at Bokaro in Jharkhand.
* TRF: The company's wholly-owned subsidiary TRF Singapore will sell its entire stake in stepdown subsidiary Hewitt Robins International Holdings along with its subsidiary Hewitt Robins International for 3.6 mln pound sterling (around 310.49 mln rupees) to UK-based ENSCO 1340.
* VEDANTA: Vedanta Resources on Thursday welcomed a South African court's decision to block sale of its mines in Zambia, saying the company is committed to resolving the current situation through arbitration.
-Cairn India Holdings, an overseas subsidiary of the company, and Volcan Investments have agreed to unwind entirely the structured investment.
* YES BANK: Ratings agency ICRA has downgraded the bank's bonds and maintained a negative outlook citing weak capital ratio and sizeable exposure to stressed assets.
-TPG Capital's Indian private equity arm and Advent International Corp are among institutional
investors that will infuse fresh capital into the bank.
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