Today's Stock News – 29.07.2019
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* AARTI DRUGS: Credit rating agency CRISIL has upgraded the company's long-term rating to 'A+' with stable outlook, from 'A'.
* ADANI ENTERPRISES: Adani Group will invest 55 bln rupees over the next five years in power transmission and food processing sectors in Uttar Pradesh.
* ADITYA BIRLA FASHION AND RETAIL: Has completed the acquisition of 51% stake in Finesse
International Design Pvt Ltd for 580 mln rupees.
* ARVIND FASHIONS: Looking to shut down several loss-making stores of its value fashion retail brand Unlimited.
* AU SMALL FINANCE BANK: Tied up with MOTILAL OSWAL FINANCIAL SERVICES to offer three-inone account having savings, demat and trading facilities to its account holders with more options.
* BHARTI AIRTEL: The board has approved a share allotment plan under which shareholders of TATA TELESERVICES (MAHARASHTRA) will get 1 share of the company for every 2,014 shares held.
* BOSCH: Will suspend all manufacturing operations at its plant in Jaipur, Rajasthan, on Saturday and its facility in Bidadi, Karnataka, today, to avoid unnecessary buildup of inventory.
* CADILA HEALTHCARE: The US Food and Drug Administration has given a clean chit to the company's active pharmaceutical ingredients manufacturing facility at Ankleshwar, Gujarat.
* CANARA BANK: The RBI has approved the bank's plan to exercise call option on its Basel III-compliant additional tier-I perpetual bonds issued in 2009.
* CIPLA: Has urged the government to increase fund allocation for the healthcare sector, improve ease of doing business and formulate policies that aid the domestic pharmaceutical industry.
* DEWAN HOUSING FINANCE CORP: May resume fresh disbursement of loans if lenders agree to the resolution plan.
* DHANUKA AGRITECH: Promoter Triveni Trust has pledged its 30% stake in the company to Catalyst Trusteeship for the proposed acquisition of ORCHID PHARMA.
* FUTURE LIFESTYLE FASHIONS: Will raise nearly 3 bln rupees through a 6.5-mln-share issue to AION Capital affiliate, Apollo India Pvt Equity IV (Mauritius).
* GRANULES INDIA: US Food and Drug Administration has issued one observation to the company's Bonthapally facility in Hyderabad, Telangana.
* HINDUSTAN AERONAUTICS: India does not need to import any more basic trainer aircraft for the armed forces as the indigenous HTT 40 will be ready by the end of this year, the company said, which has invested 5.5 bln rupees in the development project.
* ICICI BANK: Is looking to mop-up 100-150 bln rupees in equity capital in 2019-20 (Apr-Mar).
* IDFC: Is exploring other options or opportunities to divest its stake in IDFC Securities after the agreement between TCG (The Chatterjee Group) and IDFC Financial Holding Co expired on Jun 30.
* INTERGLOBE AVIATION: InterGlobe Enterprises, the holding company of IndiGo promoter Rahul Bhatia, is said to have defended its control of the airline by saying the company and Bhatia took all the economic risks while Rakesh Gangwal's ownership was more of sweat equity.
* JAIN IRRIGATION SYSTEMS: S&P Global Ratings has lowered its long-term issuer credit and issue ratings on the company to 'CCC' from 'B-', in view of its weak cash position and slow progress in securing additional working capital facilities.
* JSW STEEL: Board has approved raising up to $1 bln through overseas bonds and raising up to 10 bln rupees by issuing non-convertible foreign currency papers by way of private placement or public issuance.
* JUBILANT LIFE SCIENCES: Board has approved creating separate entities for pharmaceuticals and life science ingredients businesses, to better manage risks and regulatory requirements.
* KPIT TECHNOLOGIES: The company has paid $2.8 mln on behalf of Birlasoft to settle its legal dispute with Copart Inc in the US. Board has approved merger of the company's wholly-owned subsidiary Impact Automotive Solutions with the company.
* MAHINDRA & MAHINDRA: Received BS-VI certification from the International Centre for Automotive Technology for its Bolero Power Plus model.
* MANPASAND BEVERAGES: The Gujarat High Court on Thursday granted bail to the company's Wholetime Director Abhishek Singh and his brother Harshvardhan Singh, and Chief Financial Officer Paresh Thakkar.
* MARUTI SUZUKI INDIA: Introduced compressed natural gas variants of Ertiga and Tour M, priced at 887,689 rupees and 882,689 rupees, respectively, ex-showroom Delhi.
* MULTI COMMODITY EXCHANGE OF INDIA: Has received the Securities and Exchange Board of India's approval to appoint Saurabh Chandra as chairman of the board.
* NEW DELHI TELEVISION: The Income Tax department has sent notice to the company's step-down subsidiary Red Pixels Ventures raising demand of 120.99 mln rupees for the assessment year 2016-17.
* NHPC: The Hyderabad bench of the National Company Law Tribunal has approved the company's resolution plan for Lanco Teesta Hydro Power.
* PFIZER: Pfizer Inc plans to combine its off-patent business, which includes Lipitor cholesterol pills and maleimpotence drug Viagra, with Mylan NV and form a generic drug giant.
* RELIANCE INDUSTRIES: Will soon hire distributors to sell private-label brands owned by its retail unit through neighbourhood stores, as Mukesh Ambani aims to boost the contribution of the company's consumer business.
* SATIN CREDITCARE NETWORK: Raised $9.4 mln through external commercial borrowing from
responsAbility Investments AG.
* SHEELA FOAM: Will acquire 94% stake in Spain-based Interplasp S.L. for 42 mln euros (around 3.22 bln rupees).
* SUZLON ENERGY: The Andhra Pradesh government has sought cancellation of 21 wind power purchase agreements with clients of the company and Axis Energy, despite the Andhra Pradesh High Court's stay on the state government's Jul 1 notification and Jul 12 letters to developers seeking renegotiation of tariffs of signed contracts.
* UFLEX: Has entered into a pact to sell its 82% stake in wholly-owned subsidiary Utech Developers to Montage Enterprises Pvt Ltd for 1.3 bln rupees in redeemable preference shares.
* VIDEOCON INDUSTRIES: Probe agencies are likely to confront Deepak and Chanda Kochhar, and Videocon group chairman Venugopal Dhoot after two separate reports concurred that the 640 mln rupees 'received' by Deepak Kochhar's group firms through layered transactions from Videocon remains unexplained.
* WELSPUN CORP: Executive director and chief executive officer of the company's plates and coils mill division, Srinivasan Krishnan, has resigned citing personal reasons, effective Wednesday.
* YES BANK: Has said that it continues to explore various opportunities in its "ordinary course" of business to raise capital.
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