Daily Stock News Today – 02.11.2017
* ARFIN INDIA: Has received orders for supply of conductors of 3,987.5 km in quantity from various state electricity board companies.
* ASIAN GRANITO INDIA: Has entered into a joint venture agreement with Paramshree Granito for setting up a greenfield facility for a quartz stone at Himmatnagar in Gujarat
* AXIS BANK: The National Company Law Tribunal has dismissed the bank's plea to stake a claim of 3.97 bln rupees in the ongoing corporate insolvency proceedings against Edu Smart Services.
* AU SMALL FINANCE BANK: Has tied up with Cholamandalam MS General Insurance to sell the latter's products.
* BHARTI AIRTEL: Board has approved the transfer of optical fibre cable business to its subsidiary Telesonic Networks by way of slump sale. The company will offer Apple Inc's iPhone X variants through its online stores at a starting price of 89,000 rupees from Friday.
* BLUE STAR: Expects to grow its market share to 12% in 2017-18 (Apr-Mar) despite disruptions on account of the new energy labelling norms, effective January, and the implementation of goods and services tax.
* CESC: A meeting of the shareholders has been convened in Kolkata on Dec 15 to approve the proposed corporate restructuring of the company by way of a demerger scheme.
* CHOLAMANDALAN INVESTMENT AND FINANCE CO: Northwest Venture Partners has sold 0.76% or 1.2 mln shares in the company through a bulk deal on BSE.
* COAL INDIA: The Odisha government has sent show cause notices of around 200 bln rupees to
arm Mahanadi Coalfields for alleged violation of environmental norms.
* COLGATE-PALMOLIVE (INDIA) Life Insurance Corp of India has acquired 2.021% stake in the company through open market purchase, taking the total holding in the company to 7.03%.
* CROMPTON GREAVES CONSUMER ELECTRICAL: Franklin Templeton Investment Funds has bought an additional 0.74% stake in the company by buying 4.6 mln shares through a bulk deal on the National Stock Exchange. The company is investing in branding to increase its appeal among young consumers.
* DREDGING CORP OF INDIA: The Cabinet has approved the sale of its entire stake 73.47% in the company.
* GOCL CORP: Subsidiary IDL Explosives has received the running contract fworth 3.2 bln rupees from COAL INDIA to supply bulk explosives to subsidiaries of COAL INDIA.
* HEXAWARE TECHNOLOGIES: The board has recommended paying 1 rupee per share as interim dividend.
* ICICI BANK: The board will meet on Monday to consider raising funds through senior unsecured long-term bonds or Basel III compliant unsecured perpetual Additional Tier I bonds in a single or multiple tranches.
* ITC: ITC Foods expects instant noodles brand Yippee to join the 10-bln-rupee revenue club by 2020.
* JAIPRAKASH ASSOCIATES: Has secured the Reserve Bank of India's approval for the proposed offer to exchange outstanding existing foreign currency bonds maturing with 2020, 2021 bonds.
* JSW ENERGY: Will set up a new thermal power generation capacity of 36 MW for its group company JSW Cement under long term power purchase agreement.
* KOLTE-PATIL DEVELOPERS: Is in discussion with global private equity investors to set up a real estate investment platform worth around 5 bln rupees to fund its future projects.
* KPIT TECHNOLOGIES: Expects to post over 12% year-on-year growth in topline for 2017-18 (Apr-Mar), Managing Director Kishor Patil said. The company expects its operating margin for Oct-Dec to be flattish, as the quarter traditionally has fewer working days due to festivals.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: To raise 1.5 bln rupees through secured redeemable non-convertible debentures carrying a coupon of 7.5320%.
* MPHASIS: Will have stronger focus on the US and European markets for growth in the next 12-24 months.
* NBCC (INDIA): Has secured a contract to reconstruct the Manora Aamdar Niwas building at Nariman Point in Mumbai.
* NTPC: At least 20 people were killed and 70 injured when a massive explosion ripped a boiler in the company's Unchahar plant in Rae Bareli district of Uttar Pradesh on Wednesday.
* OIL AND NATURAL GAS CORP: The Delhi High Court has reserved its order on maintainability of a public interest litigation, challenging the appointment of Shashi Shanker as the chairman and managing director of the company.
* RELIANCE COMMUNICATIONS: The telecom regulator has ordered the company and its unit Reliance Telecom to immediately issue and communicate unique porting codes via SMS to users in Shillong and Kerala, where second generation services have been shut. The company is likely to function as a mobile virtual network operator that will offer 4G services once it sheds its 2G and 3G voice business.
* SHREE CEMENT: Has secured two coal linkages from COAL INDIA in an auction for its captive power plant at Raipur in Chhattisgarh.
* SHREYAS SHIPPING & LOGISTICS: Has flagged off its maiden coastal shipment on board the SSL Sabarimalai from the Visakhapatnam port in Andhra Pradesh.
* SOLAR INDUSTRIES INDIA: Has received the running contract worth 11.43 bln rupees to supply 375,412 tn bulk explosives to the subsidiaries of COAL INDIA.
* SOUTH INDIAN BANK: Has cut its Base Rate by 10 basis points to 9.90%, effective Monday.
* STEEL STRIPS WHEELS: Total wheel rim sales in October rose 18% on year to 1.31 mln units.
* TATA TELESERVICES (MAHARASHTRA): NTT DoCoMo Inc will continue to hold 11.76% stake in the company.
* TVS MOTOR CO: Total sales for October rose 3% on year to 317,411 units.
* VARDHMAN SPECIAL STEELS: The board will meet on Saturday to consider fund raising by way of issuance of securities.
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* ASIAN GRANITO INDIA: Has entered into a joint venture agreement with Paramshree Granito for setting up a greenfield facility for a quartz stone at Himmatnagar in Gujarat
* AXIS BANK: The National Company Law Tribunal has dismissed the bank's plea to stake a claim of 3.97 bln rupees in the ongoing corporate insolvency proceedings against Edu Smart Services.
* AU SMALL FINANCE BANK: Has tied up with Cholamandalam MS General Insurance to sell the latter's products.
* BHARTI AIRTEL: Board has approved the transfer of optical fibre cable business to its subsidiary Telesonic Networks by way of slump sale. The company will offer Apple Inc's iPhone X variants through its online stores at a starting price of 89,000 rupees from Friday.
* BLUE STAR: Expects to grow its market share to 12% in 2017-18 (Apr-Mar) despite disruptions on account of the new energy labelling norms, effective January, and the implementation of goods and services tax.
* CESC: A meeting of the shareholders has been convened in Kolkata on Dec 15 to approve the proposed corporate restructuring of the company by way of a demerger scheme.
* CHOLAMANDALAN INVESTMENT AND FINANCE CO: Northwest Venture Partners has sold 0.76% or 1.2 mln shares in the company through a bulk deal on BSE.
* COAL INDIA: The Odisha government has sent show cause notices of around 200 bln rupees to
arm Mahanadi Coalfields for alleged violation of environmental norms.
* COLGATE-PALMOLIVE (INDIA) Life Insurance Corp of India has acquired 2.021% stake in the company through open market purchase, taking the total holding in the company to 7.03%.
* CROMPTON GREAVES CONSUMER ELECTRICAL: Franklin Templeton Investment Funds has bought an additional 0.74% stake in the company by buying 4.6 mln shares through a bulk deal on the National Stock Exchange. The company is investing in branding to increase its appeal among young consumers.
* DREDGING CORP OF INDIA: The Cabinet has approved the sale of its entire stake 73.47% in the company.
* GOCL CORP: Subsidiary IDL Explosives has received the running contract fworth 3.2 bln rupees from COAL INDIA to supply bulk explosives to subsidiaries of COAL INDIA.
* HEXAWARE TECHNOLOGIES: The board has recommended paying 1 rupee per share as interim dividend.
* ICICI BANK: The board will meet on Monday to consider raising funds through senior unsecured long-term bonds or Basel III compliant unsecured perpetual Additional Tier I bonds in a single or multiple tranches.
* ITC: ITC Foods expects instant noodles brand Yippee to join the 10-bln-rupee revenue club by 2020.
* JAIPRAKASH ASSOCIATES: Has secured the Reserve Bank of India's approval for the proposed offer to exchange outstanding existing foreign currency bonds maturing with 2020, 2021 bonds.
* JSW ENERGY: Will set up a new thermal power generation capacity of 36 MW for its group company JSW Cement under long term power purchase agreement.
* KOLTE-PATIL DEVELOPERS: Is in discussion with global private equity investors to set up a real estate investment platform worth around 5 bln rupees to fund its future projects.
* KPIT TECHNOLOGIES: Expects to post over 12% year-on-year growth in topline for 2017-18 (Apr-Mar), Managing Director Kishor Patil said. The company expects its operating margin for Oct-Dec to be flattish, as the quarter traditionally has fewer working days due to festivals.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: To raise 1.5 bln rupees through secured redeemable non-convertible debentures carrying a coupon of 7.5320%.
* MPHASIS: Will have stronger focus on the US and European markets for growth in the next 12-24 months.
* NBCC (INDIA): Has secured a contract to reconstruct the Manora Aamdar Niwas building at Nariman Point in Mumbai.
* NTPC: At least 20 people were killed and 70 injured when a massive explosion ripped a boiler in the company's Unchahar plant in Rae Bareli district of Uttar Pradesh on Wednesday.
* OIL AND NATURAL GAS CORP: The Delhi High Court has reserved its order on maintainability of a public interest litigation, challenging the appointment of Shashi Shanker as the chairman and managing director of the company.
* RELIANCE COMMUNICATIONS: The telecom regulator has ordered the company and its unit Reliance Telecom to immediately issue and communicate unique porting codes via SMS to users in Shillong and Kerala, where second generation services have been shut. The company is likely to function as a mobile virtual network operator that will offer 4G services once it sheds its 2G and 3G voice business.
* SHREE CEMENT: Has secured two coal linkages from COAL INDIA in an auction for its captive power plant at Raipur in Chhattisgarh.
* SHREYAS SHIPPING & LOGISTICS: Has flagged off its maiden coastal shipment on board the SSL Sabarimalai from the Visakhapatnam port in Andhra Pradesh.
* SOLAR INDUSTRIES INDIA: Has received the running contract worth 11.43 bln rupees to supply 375,412 tn bulk explosives to the subsidiaries of COAL INDIA.
* SOUTH INDIAN BANK: Has cut its Base Rate by 10 basis points to 9.90%, effective Monday.
* STEEL STRIPS WHEELS: Total wheel rim sales in October rose 18% on year to 1.31 mln units.
* TATA TELESERVICES (MAHARASHTRA): NTT DoCoMo Inc will continue to hold 11.76% stake in the company.
* TVS MOTOR CO: Total sales for October rose 3% on year to 317,411 units.
* VARDHMAN SPECIAL STEELS: The board will meet on Saturday to consider fund raising by way of issuance of securities.
