Today's Stock News – 30.07.2019
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* AUROBINDO PHARMA: Received approval from the US Food and Drug Administration for generic of Trilipix.
* BEML: Has commenced production of metro cars Monday at its Bangalore facility for Mumbai Metropolitan Region Development Authority for its MRS1 project.
* BHARAT PETROLEUM CORP: Malaysia's Petroliam Nasional Bhd and a consortium led by Japan's JXTG Holdings Inc are among the companies interested in buying a stake in Bina oil refinery. The plant is operated by Bharat Oman Refineries, a 50-50 joint venture between Oman Oil Co and the company.
* BHARTI AIRTEL: The company, Vodafone, Mahanagar Telephone Nigam and Bharat Sanchar Nigam have a pending licence fee outstanding of over 920 bln rupees till date, the Centre told the Supreme Court.
-The decision of the Digital Communications Commission at its meeting to levy a cumulative penalty
of 30.50 bln rupees on the company and VODAFONE IDEA was not a unanimous one. Three members of the inter-ministerial panel, which is the highest decision-making body of the Department of Telecommunications, dissented, while four others voted in favour of the penalty.
* COAL INDIA: The government sold 104.98 mln shares or 1.7% stake in the company through central public sector enterprises exchange-traded fund on Jul 22.
* DILIP BUILDCON: Board will meet on Aug 5 to consider raising funds by issuing non-convertible debentures and commercial paper on a private placement basis, and also the authority to issue further shares.
* DR REDDY'S LABORATORIES: Has elevated Chief Operating Officer Erez Israeli as chief executive officer, effective Thursday. It has re-designated G.V. Prasad as co-chairman and managing director.
-Board has approved the merger of Dr Reddy's Holdings with the company.
* EID PARRY (INDIA): Board has approved raising up to 1 bln rupees through the issuance of non-convertible debentures.
-Has decided to shut down its sugar unit at Pudukottai, Tamil Nadu, due to non-availability of adequate sugarcane. Expectations of a revival in cane cultivation in the area is low due to various factors.
* FUTURE LIFESTYLE FASHIONS: Promoter Ryka Commercial Ventures has sold 6% stake or 11.68 mln shares in the company at 466.25 rupees per share through a bulk deal on the National Stock Exchange.
* GVK POWER & INFRASTRUCTURE: The Competition Commission has approved the acquisition of ACSA Global's 10% stake in Mumbai International Airport by GVK Airport Holdings in a deal worth 9.24 bln rupees.
* HINDUSTAN OIL EXPLORATION CO: The company's pact with Hardy Oil and Gas PLC to acquire the entire stake in Hardy Exploration & Production (India) Inc for $1.5 mln has been cancelled, as after the offer made by the company, Hardy Oil and Gas received an unsolicited offer of $8.75 mln from Invenire Energy to acquire Hardy Exploration.
* INDIAN OIL CORP: The company and its partner ADANI GAS will invest about 96 bln rupees in rolling out infrastructure for retailing compressed natural gas to automobiles and piped natural gas to household kitchens in 10 cities.
* INFOSYS: Subsidiary EdgeVerve Systems has received a contract from Al Ahli Bank of Kuwait to automate its operations.
* JSW STEEL: Wants to consolidate the working capital-strapped downstream or value-added steel products industry in the country through its bids for assets like Asian Colour Coated Ispat and VARDHMAN INDUSTRIES.
* MUTHOOT FINANCE: Clarifying on a news report that the company had suspended fresh gold loans in a few branches due to a technical glitch, the company told the exchanges the decision to stop extending such loans temporarily was conscious.
* NBCC (INDIA): The Supreme Court gave homebuyers of UNITECH time till Friday to give their views on the company's plan to finish the incomplete projects of UNITECH.
* STATE BANK OF INDIA: The bank, BANK OF BARODA, CANARA BANK, AXIS BANK and RBL
BANK are planning to raise an aggregate of up to 620 bln rupees this year in a bid to accumulate growth capital.
* STRIDES PHARMA SCIENCE: Singapore-based stepdown subsidiary Strides Pharma Global has entered into a joint venture with Sun Moral International (HK), a wholly-owned subsidiary of Sihuan Pharmaceutical Holdings Group, to sell pharmaceutical products in China.
* TATA CONSULTANCY SERVICES: SEBI is looking into a complaint by a former employee of the company who has questioned the robustness of the information technology service provider's vigil mechanism that allows people to report fraud or unethical behaviour.
* TEJAS NETWORKS: SBI LIFE INSURANCE CO has sold 0.51% stake or 465,661 shares in the company at 90.01 rupees apiece through a bulk deal on the National Stock Exchange.
* TRIGYN TECHNOLOGIES: Wholly-owned subsidiary Trigyn Technologies, Inc has been awarded a contract to provide information technology temporary staffing services to the Mississauga city in Canada.
* VODAFONE IDEA: Plans to boost 4G penetration and roll out a new minimum monthly recharge plan to improve revenue and arrest the trend of customers leaving its network. Decided to close m-pesa vertical following the closure of Aditya Birla Idea Payments Bank, in which it was being merged with.
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