Daily Stock News Today – 21.07.2017
* ABG SHIPYARD: Has admitted before the National Company Law Tribunal that it had defaulted on loan repayments and agreed for bankruptcy proceedings to be initiated against it.
* ADANI POWER: Plans to set up a 150 MW wind power park on the sea shore close to its Mundra
thermal power project.
* BAJAJ AUTO: May buy European motorcycle brand Ducati along with Australian partner KTM.
* BALAJI TELEFILMS: Board has approved issue of 25.2 mln shares to RELIANCE INDUSTRIES for 4.13 bln rupees.
* BRITANNIA INDUSTRIES: The company and Tata Tea have stopped supplies to distributors in
Kerala, who are seeking protection of their margins after the goods and services tax was imposed.
* COAL INDIA: The National Company Law Appellate Tribunal has stayed rulings by the Competition Commission of India that the company abused its dominant position in framing fuel supply agreements with Gujarat Heavy Chemicals and Madhya Pradesh Power Generating Co.
* GRAVITA INDIA: Step-down subsidiary Gravita Jamaica in Jamaica has started recycling and
commercial production of polyethylene terephthalate flakes by installing an 'PET Hot Wash Line'.
* ICICI BANK: Has introduced digital instant disbursal of personal loans through its automated teller
machines.
* IDBI BANK: Has decided to sell its entire 5% stake in Clearing Corp of India, as it looks to strengthen its weak capital base through the sale of assets that are not central to its main business.
* JAYPEE INFRATECH: The National Company Law Tribunal gave the company time until Aug 4 to respond to a petition of insolvency filed by IDBI BANK after the company said it did not receive a notice from the tribunal on beginning the proceedings.
* JET AIRWAYS: Has asked 318 co-pilots to take 10 days off each month from Aug 1, a move that will effectively mean a cut of at least 30% in their salaries.
* JUBILANT LIFE SCIENCES: Investor Rakesh Jhunjhunwala bought 2 mln shares or 1.3% stake in the company in the quarter ended June.
* NEO CORP INTERNATIONAL: Punjab National Bank sold 500,000 shares of the company in a bulk deal at 3.2 rupees a share, as per data on the BSE.
* OIL AND NATURAL GAS CORP: Finance Minister Arun Jaitley will head a panel that will oversee and speed up the company's acquisition of Hindustan Petroleum Corp.
* RALLIS INDIA: Board has approved the sale of its entire stake in Advinus Therapeutics for 173.2 mln rupees.
* RAMKRISHNA FORGINGS: To raise nearly 2 bln rupees through a qualified institutional placement of shares.
* RAMSARUP INDUSTRIES: Has moved the National Company Law Tribunal declaring itself as
insolvent and seeking appointment of an interim resolution professional. ICICI BANK has opposed the company's insolvency petition.
* RBL BANK: Reported a net profit of 1.4 bln rupees for Apr-Jun, up 44.9% on year, and total income of 12.9 bln rupees, up 26% on year.
* RELIANCE INDUSTRIES: Reported consolidated net profit of 91.1 bln rupees for Apr-Jun, up 28.3% on year, and revenue from operations of 905.4 bln rupees, up 26.7%.
- The company will invest another 200 bln rupees in subsidiary Reliance Jio Infocomm.
- Board has approved setting up and investing $25 mln into Jerusalem Innovation Incubator, licensed by Israel Innovation Authority.
* STERLING TOOLS: IDFC Mutual Fund bought 480,861 shares of the company in a bulk deal at 265 rupees a share, as per data on the National Stock Exchange.
* TALWALKARS BETTER VALUE FITNESS: The board has approved raising up to 5 bln rupees
through the issuance of non-convertible debentures.
* TATA MOTORS: Has rolled out the first batch of its compact sport utility vehicle Nexon.
* TIME TECHNOPLAST: Morgan Stanley Asia (Singapore) sold 5.46 mln shares of the company in a bulk deal at 156.25 rupees a share, as per data on the National Stock Exchange.
* V-MART RETAIL: Fidelity Funds sold 439,760 shares of the company in a bulk deal at 1,143.02 rupees a share, as per data on the BSE.
* WELSPUN CORP: Current order book has crossed 42 bln rupees with the supply orders of over
699,000 tn of pipes.
* WIPRO: Posted consolidated net profit of 20.8 bln rupees for Apr-Jun, down 8.1% on quarter, while revenue from operations fell 2.6% to 136.3 bln rupees.
- Board has approved buyback of up to 343.75 mln shares or 7% of the fully paid up equity capital of
the company at 320 rupees a share, through the tender offer route.
- Expects sales from information technology services in Jul-Sep to be in the range of $1.96 bln to $2.00 bln.
* ZEE MEDIA CORP: Is in advanced talks to buy Business Broadcast News, which operates business news channel BTVi.
* ABG SHIPYARD: Has admitted before the National Company Law Tribunal that it had defaulted on loan repayments and agreed for bankruptcy proceedings to be initiated against it.
* ADANI POWER: Plans to set up a 150 MW wind power park on the sea shore close to its Mundra
thermal power project.
* BAJAJ AUTO: May buy European motorcycle brand Ducati along with Australian partner KTM.
* BALAJI TELEFILMS: Board has approved issue of 25.2 mln shares to RELIANCE INDUSTRIES for 4.13 bln rupees.
* BRITANNIA INDUSTRIES: The company and Tata Tea have stopped supplies to distributors in
Kerala, who are seeking protection of their margins after the goods and services tax was imposed.
* COAL INDIA: The National Company Law Appellate Tribunal has stayed rulings by the Competition Commission of India that the company abused its dominant position in framing fuel supply agreements with Gujarat Heavy Chemicals and Madhya Pradesh Power Generating Co.
* GRAVITA INDIA: Step-down subsidiary Gravita Jamaica in Jamaica has started recycling and
commercial production of polyethylene terephthalate flakes by installing an 'PET Hot Wash Line'.
* ICICI BANK: Has introduced digital instant disbursal of personal loans through its automated teller
machines.
* IDBI BANK: Has decided to sell its entire 5% stake in Clearing Corp of India, as it looks to strengthen its weak capital base through the sale of assets that are not central to its main business.
* JAYPEE INFRATECH: The National Company Law Tribunal gave the company time until Aug 4 to respond to a petition of insolvency filed by IDBI BANK after the company said it did not receive a notice from the tribunal on beginning the proceedings.
* JET AIRWAYS: Has asked 318 co-pilots to take 10 days off each month from Aug 1, a move that will effectively mean a cut of at least 30% in their salaries.
* JUBILANT LIFE SCIENCES: Investor Rakesh Jhunjhunwala bought 2 mln shares or 1.3% stake in the company in the quarter ended June.
* NEO CORP INTERNATIONAL: Punjab National Bank sold 500,000 shares of the company in a bulk deal at 3.2 rupees a share, as per data on the BSE.
* OIL AND NATURAL GAS CORP: Finance Minister Arun Jaitley will head a panel that will oversee and speed up the company's acquisition of Hindustan Petroleum Corp.
* RALLIS INDIA: Board has approved the sale of its entire stake in Advinus Therapeutics for 173.2 mln rupees.
* RAMKRISHNA FORGINGS: To raise nearly 2 bln rupees through a qualified institutional placement of shares.
* RAMSARUP INDUSTRIES: Has moved the National Company Law Tribunal declaring itself as
insolvent and seeking appointment of an interim resolution professional. ICICI BANK has opposed the company's insolvency petition.
* RBL BANK: Reported a net profit of 1.4 bln rupees for Apr-Jun, up 44.9% on year, and total income of 12.9 bln rupees, up 26% on year.
* RELIANCE INDUSTRIES: Reported consolidated net profit of 91.1 bln rupees for Apr-Jun, up 28.3% on year, and revenue from operations of 905.4 bln rupees, up 26.7%.
- The company will invest another 200 bln rupees in subsidiary Reliance Jio Infocomm.
- Board has approved setting up and investing $25 mln into Jerusalem Innovation Incubator, licensed by Israel Innovation Authority.
* STERLING TOOLS: IDFC Mutual Fund bought 480,861 shares of the company in a bulk deal at 265 rupees a share, as per data on the National Stock Exchange.
* TALWALKARS BETTER VALUE FITNESS: The board has approved raising up to 5 bln rupees
through the issuance of non-convertible debentures.
* TATA MOTORS: Has rolled out the first batch of its compact sport utility vehicle Nexon.
* TIME TECHNOPLAST: Morgan Stanley Asia (Singapore) sold 5.46 mln shares of the company in a bulk deal at 156.25 rupees a share, as per data on the National Stock Exchange.
* V-MART RETAIL: Fidelity Funds sold 439,760 shares of the company in a bulk deal at 1,143.02 rupees a share, as per data on the BSE.
* WELSPUN CORP: Current order book has crossed 42 bln rupees with the supply orders of over
699,000 tn of pipes.
* WIPRO: Posted consolidated net profit of 20.8 bln rupees for Apr-Jun, down 8.1% on quarter, while revenue from operations fell 2.6% to 136.3 bln rupees.
- Board has approved buyback of up to 343.75 mln shares or 7% of the fully paid up equity capital of
the company at 320 rupees a share, through the tender offer route.
- Expects sales from information technology services in Jul-Sep to be in the range of $1.96 bln to $2.00 bln.
* ZEE MEDIA CORP: Is in advanced talks to buy Business Broadcast News, which operates business news channel BTVi.
