Daily Stock News Today – 24.07.2017
* ALEMBIC PHARMACEUTICALS: More than a thousand shareholders have moved a resolution to appoint a director on their behalf at the annual general meeting on Jul 28.
* AMTEK AUTO: The Company’s subsidiary Amtek Global Technologies has entered into a pact to sell its UK-based arms' plants to Liberty Group.
* ASTRAZENECA PHARMA INDIA: Will launch Osimertinib tablets in 40-mg and 80-mg strengths in India on Thursday.
* BANK OF BARODA: Has entered into an agreement with Directorate General of Supplies and Disposal for extending various banking services to the government e-marketplace.
* BAYER CROPSCIENCE: Has received shareholders' nod for buyback of shares worth 4.99 bln rupees in cash.
* DHAMPUR SUGAR MILLS: Has invested 20 mln rupees more in its wholly-owned subsidiary Ehaat by subscribing 2 mln shares of 10 rupees each on rights basis.
* DIVI'S LABORATORIES: Reported net profit of 1.8 bln rupees for Apr-Jun, down 41.5% on year, and revenue from operations of 8.2 bln rupees, down 19.3%.
* DR REDDY'S LABORATORIES: The company, CIPLA, PFIZER, ALKEM LABORATORIES and ALEMBIC PHARMACEUTICALS feature among the 66 companies that failed the government's test for quality of drugs.
* ELECTROSTEEL STEELS: The Kolkata bench of the National Company Law Tribunal on Friday
admitted insolvency proceedings against the company.
* GODREJ CONSUMER PRODUCTS: Societe Generale has bought 1.6 mln shares of the company from Credit Suisse Singapore through a block deal at 960 rupees a share, as per data on BSE.
* GVK POWER & INFRASTRUCTURE: Porinju Veliyath, through his portfolio management company, Equity Intelligence India, has bought 18.8 mln shares of the company in a bulk deal at 9.61 rupees a share, as per data on the National Stock Exchange.
* HERO MOTOCORP: Has renewed its title sponsorship deal with Indian Super League, a football league owned by IMG-Reliance and Star India for three years.
* HINDUSTAN PETROLEUM CORP: May acquire two subsidiaries of OIL AND NATURAL GAS
CORP before the explorer takes over the refiner, a senior government official said.
* INSILCO: Has extended shutdown of its plant till Jul 28 due to high inventory and low sales volume.
* INTERGLOBE AVIATION: Has picked banks including Citigroup Inc, JPMorgan Chase & Co and
Morgan Stanley to work on an institutional share sale. Several top fund managers have exited the counter of company. Put together, fund managers sold shares worth 1.2 bln rupees of IndiGo in June.
* ITC: Wholly-owned subsidiary ITC Infotech plans to acquire smaller companies worth around 3.3 bln rupees to boost its digital technology capabilities.
* JET AIRWAYS INDIA: Has asked its junior pilots to furnish surety bonds worth up to 10 mln rupees and serve the airline for at least five to seven years.
* JSW ENERGY: Is eyeing power plants where it can generate power at 2.50-3.00 rupees per unit, said a top executive.
* LUPIN: The US Food and Drug Administration has cleared the company's Goa-based facility following an inspection.
* MARUTI SUZUKI INDIA: Introduced automatic option in the top-end Alpha trim of its premium
hatchback Baleno, priced at 834,000 rupees ex-showroom Delhi.
* NITIN FIRE PROTECTION INDUSTRIES: IFCI has sold 3.3 mln shares of the company through a bulk deal at 6.91 rupees a share, as per data on the National Stock Exchange.
* OIL AND NATURAL GAS CORP: Will not be required to make an open offer to minority shareholders of HINDUSTAN PETROLEUM CORP after buying out government's 51.11% stake.
* PERSISTENT SYSTEMS: Germany-based wholly-owned subsidiary Persistent Systems Germany
GmbH has signed an agreement to acquire Switzerland-based PARX Werk AG.
* PUNJAB NATIONAL BANK: Has sold 300,000 shares of Neo Corp International through a bulk deal at 3.4 rupees a share, as per data on the BSE. The bank, BANK OF BARODA and SYNDICATE BANK are raising 70 bln rupees through Tier-I bonds to bolster their capital adequacy ratio.
* QUESS CORP: Reported consolidated net profit of 331.4 mln rupees for Apr-Jun, up 34.2% on year, and revenue from operations of 11.9 bln rupees, up 19.9%.
* RBL BANK: Has cut some marginal cost of funds-based lending rates by 5-15 basis points, effective Saturday.
* RELIANCE INDUSTRIES: Is paying 6% more price to buy coal-bed methane gas from its own block in Madhya Pradesh in the Jul-Sep.
* STATE BANK OF INDIA: Finance Minister Arun Jaitley has introduced a bill in Lok Sabha that seeks to repeal the State Bank of India (Subsidiary Banks) Act, 1959, the State Bank of Hyderabad Act, 1956, and also amend the State Bank of India Act, 1955.
- The bank's board has approved entering into a shareholder agreement to partner with CA Rover
Holdings, an affiliate of Carlyle Asia Partners, for its credit card and payment businesses, replacing GE Capital which has been looking to exit the ventures.
* TATA SPONGE IRON: The board has approved setting up a steel plant of up to 1.5 mtpa capacity, in phases, at Beleipada in Odisha.
* UNITED SPIRITS: Reported net profit of 629 mln rupees for Apr-Jun, up 43.61% on year, and revenue from operations of 58.1 bln, down 0.6% on year.
* ZOTA HEALTH CARE: Will launch a new retail generic pharmacy chain under brand DAVAINDIA Generic Pharmacy.
* ALEMBIC PHARMACEUTICALS: More than a thousand shareholders have moved a resolution to appoint a director on their behalf at the annual general meeting on Jul 28.
* AMTEK AUTO: The Company’s subsidiary Amtek Global Technologies has entered into a pact to sell its UK-based arms' plants to Liberty Group.
* ASTRAZENECA PHARMA INDIA: Will launch Osimertinib tablets in 40-mg and 80-mg strengths in India on Thursday.
* BANK OF BARODA: Has entered into an agreement with Directorate General of Supplies and Disposal for extending various banking services to the government e-marketplace.
* BAYER CROPSCIENCE: Has received shareholders' nod for buyback of shares worth 4.99 bln rupees in cash.
* DHAMPUR SUGAR MILLS: Has invested 20 mln rupees more in its wholly-owned subsidiary Ehaat by subscribing 2 mln shares of 10 rupees each on rights basis.
* DIVI'S LABORATORIES: Reported net profit of 1.8 bln rupees for Apr-Jun, down 41.5% on year, and revenue from operations of 8.2 bln rupees, down 19.3%.
* DR REDDY'S LABORATORIES: The company, CIPLA, PFIZER, ALKEM LABORATORIES and ALEMBIC PHARMACEUTICALS feature among the 66 companies that failed the government's test for quality of drugs.
* ELECTROSTEEL STEELS: The Kolkata bench of the National Company Law Tribunal on Friday
admitted insolvency proceedings against the company.
* GODREJ CONSUMER PRODUCTS: Societe Generale has bought 1.6 mln shares of the company from Credit Suisse Singapore through a block deal at 960 rupees a share, as per data on BSE.
* GVK POWER & INFRASTRUCTURE: Porinju Veliyath, through his portfolio management company, Equity Intelligence India, has bought 18.8 mln shares of the company in a bulk deal at 9.61 rupees a share, as per data on the National Stock Exchange.
* HERO MOTOCORP: Has renewed its title sponsorship deal with Indian Super League, a football league owned by IMG-Reliance and Star India for three years.
* HINDUSTAN PETROLEUM CORP: May acquire two subsidiaries of OIL AND NATURAL GAS
CORP before the explorer takes over the refiner, a senior government official said.
* INSILCO: Has extended shutdown of its plant till Jul 28 due to high inventory and low sales volume.
* INTERGLOBE AVIATION: Has picked banks including Citigroup Inc, JPMorgan Chase & Co and
Morgan Stanley to work on an institutional share sale. Several top fund managers have exited the counter of company. Put together, fund managers sold shares worth 1.2 bln rupees of IndiGo in June.
* ITC: Wholly-owned subsidiary ITC Infotech plans to acquire smaller companies worth around 3.3 bln rupees to boost its digital technology capabilities.
* JET AIRWAYS INDIA: Has asked its junior pilots to furnish surety bonds worth up to 10 mln rupees and serve the airline for at least five to seven years.
* JSW ENERGY: Is eyeing power plants where it can generate power at 2.50-3.00 rupees per unit, said a top executive.
* LUPIN: The US Food and Drug Administration has cleared the company's Goa-based facility following an inspection.
* MARUTI SUZUKI INDIA: Introduced automatic option in the top-end Alpha trim of its premium
hatchback Baleno, priced at 834,000 rupees ex-showroom Delhi.
* NITIN FIRE PROTECTION INDUSTRIES: IFCI has sold 3.3 mln shares of the company through a bulk deal at 6.91 rupees a share, as per data on the National Stock Exchange.
* OIL AND NATURAL GAS CORP: Will not be required to make an open offer to minority shareholders of HINDUSTAN PETROLEUM CORP after buying out government's 51.11% stake.
* PERSISTENT SYSTEMS: Germany-based wholly-owned subsidiary Persistent Systems Germany
GmbH has signed an agreement to acquire Switzerland-based PARX Werk AG.
* PUNJAB NATIONAL BANK: Has sold 300,000 shares of Neo Corp International through a bulk deal at 3.4 rupees a share, as per data on the BSE. The bank, BANK OF BARODA and SYNDICATE BANK are raising 70 bln rupees through Tier-I bonds to bolster their capital adequacy ratio.
* QUESS CORP: Reported consolidated net profit of 331.4 mln rupees for Apr-Jun, up 34.2% on year, and revenue from operations of 11.9 bln rupees, up 19.9%.
* RBL BANK: Has cut some marginal cost of funds-based lending rates by 5-15 basis points, effective Saturday.
* RELIANCE INDUSTRIES: Is paying 6% more price to buy coal-bed methane gas from its own block in Madhya Pradesh in the Jul-Sep.
* STATE BANK OF INDIA: Finance Minister Arun Jaitley has introduced a bill in Lok Sabha that seeks to repeal the State Bank of India (Subsidiary Banks) Act, 1959, the State Bank of Hyderabad Act, 1956, and also amend the State Bank of India Act, 1955.
- The bank's board has approved entering into a shareholder agreement to partner with CA Rover
Holdings, an affiliate of Carlyle Asia Partners, for its credit card and payment businesses, replacing GE Capital which has been looking to exit the ventures.
* TATA SPONGE IRON: The board has approved setting up a steel plant of up to 1.5 mtpa capacity, in phases, at Beleipada in Odisha.
* UNITED SPIRITS: Reported net profit of 629 mln rupees for Apr-Jun, up 43.61% on year, and revenue from operations of 58.1 bln, down 0.6% on year.
* ZOTA HEALTH CARE: Will launch a new retail generic pharmacy chain under brand DAVAINDIA Generic Pharmacy.
