Daily Stock News Today – 07.11.2017
* AXISCADES ENGINEERING TECHNOLOGIES: Has announced the acquisition of Bengaluru-based specialised embedded technology company Mistral Solutions for 1.8 bln rupees.
* BAJAJ ELECTRICALS: The board will meet on Thursday to consider and approve acquisition of manufacturing business of Hind Lamps.
* BANK OF MAHARASHTRA: Will cut marginal cost of funds-based lending rates by 5 basis points across tenures, effective Tuesday.
* GOODRICKE GROUP: The company's tea gardens in Darjeeling have commenced regular operations.
* HDFC BANK: Has made online transactions through real time gross settlement and National Electronics Funds Transfer free of cost from Nov 1 to promote digital economy.
* IDEA CELLULAR: Has announced a new 179-rupee plan, offering 1 GB data and unlimited voice calls for 28 days.
* INFOSYS: Executives BG Srinivas and Ashok Vemuri are the frontrunners to be
the company's chief executive.
* INTERGLOBE AVIATION: Will soon join the big league of airlines with 1,000 daily departures, becoming the fifth Asian carrier to do so.
* LARSEN & TOUBRO INFOTECH: The board has decided to pay an interim dividend of 8 rupees per share.
* MARUTI SUZUKI INDIA: Has launched the 'Royal Platinum Extended Warranty Programme. Sales of the company's mid-size sedan Ciaz seem to have come under pressure with 43% tax being levied on hybrid cars.
* MOSER BAER INDIA: Has declared a lock-out at its Greater Noida factory due to a strike by workers at the plant.
* MUTHOOT CAPITAL SERVICES: Has set the floor price for its qualified institutional placement of securities at 628.98 rupees per share.
* NARAYANA HRUDAYALAYA: The company, through its wholly-owned subsidiary Narayana Cayman Holdings, will buy the remaining 71.4% stake in Health City Cayman Island from Ascension Health Ventures LLC, US, for $32.26 mln.
* NEW DELHI TELEVISION: RRPR, the biggest promoter shareholder in the company, said it believes that there is no encumbrance of shareholding in the company following provisional attachment of the entire 29.12% interest.
* NTPC: The power ministry has constituted a four-member panel to probe the blast at the company's Unchahar plant at Raebareli in Uttar Pradesh, in which over 30 people lost their lives and about 50 were injured.
* NU TEK INDIA: Has received a notice of liquidation of its subsidiary Nu Tek HK from international law company INCE
& Co.
* OIL AND NATURAL GAS CORP: GAIL INDIA along with the company may end up being the first public sector undertakings to take over a company undergoing an insolvency resolution.
* PARAG MILK FOODS: Abu Dhabi Investment has sold 0.6% stake in, or 496,501 shares of, the company at 282.50 rupees per share through bulk deal on the National Stock Exchange.
* PUNJAB NATIONAL BANK: Has proposed to mop up 50 bln rupees from share sale in next few months and has appointed merchant bankers for it.
* RELIANCE COMMUNICATIONS: Has signed a binding memorandum of understanding with Veecon Media and Television to sell its direct-to-home operations to pare debt. With the bulk of its wireless telephony business shutting down, the company skipped interest payment to its bond holders. The company didn't pay he interest, of about $9.75 ln due on its $300-mln bonds that will mature n 2020.
* RELIANCE INDUSTRIES: Ratings agency Moody's Investors Service has cut the company’s domestic long-term rating outlook to 'stable' from 'positive' iting increase in risks to its business because of its growing digital services business.
* RURAL ELECTRIFICATION CORP: Loan book of the non-banking financial company as 2.16 trln rupees as of Sep 30, while the outstanding borrowings were 1.76 rln rupees. The Indian Railways may rope in the company to fund its ambitious plan to lectrify the entire network by 2021-22.
* STATE BANK OF INDIA: Refusing to comment on the ethicality of promoters articipating in the bidding process of their companies, referred under the insolvency and Bankruptcy Code, the bank's Chairman Rajnish Kumar said it is legal and promoters "are within their right to participate". The bank's Managing Director B. Sriram has said better and faster vailability of data has allowed for improved credit quality for banks.
* TATA CHEMICALS: The board has approved sale of its Haldia fertiliser unit n West Bengal to Netherlands-based Indorama Holdings BV for 3.75 bln rupees.
* TATA STEEL: Has commissioned a Coke Dry Quenching facility with a capacity f 200 tn per hour, at its greenfield steel plant at the Kalinganagar industrial Complex in Jajpur, Odisha.
* TITAN CO: Has invested $3 mln-$5 mln in wearable tech internet of things startup CoveIoT.
* TVS MOTOR CO: Has announced that the Apache RTR 200 4V electronic fuel injection variant is now available in the market and priced tvs apache price 07,005 rupees.
* VIDEOCON INDUSTRIES: After months of due diligence, the company is finally selling its home appliances business Kenstar to Everstone Group.
* WHEELS INDIA: A joint venture between TVS group, the company and Topy industries of Japan, will set up a new steel wheel plant at Vanod in Gujarat. Has decided to close down its operations at Pantnagar, and said the move is part of ongoing strategic business decision.
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* BAJAJ ELECTRICALS: The board will meet on Thursday to consider and approve acquisition of manufacturing business of Hind Lamps.
* BANK OF MAHARASHTRA: Will cut marginal cost of funds-based lending rates by 5 basis points across tenures, effective Tuesday.
* GOODRICKE GROUP: The company's tea gardens in Darjeeling have commenced regular operations.
* HDFC BANK: Has made online transactions through real time gross settlement and National Electronics Funds Transfer free of cost from Nov 1 to promote digital economy.
* IDEA CELLULAR: Has announced a new 179-rupee plan, offering 1 GB data and unlimited voice calls for 28 days.
* INFOSYS: Executives BG Srinivas and Ashok Vemuri are the frontrunners to be
the company's chief executive.
* INTERGLOBE AVIATION: Will soon join the big league of airlines with 1,000 daily departures, becoming the fifth Asian carrier to do so.
* LARSEN & TOUBRO INFOTECH: The board has decided to pay an interim dividend of 8 rupees per share.
* MARUTI SUZUKI INDIA: Has launched the 'Royal Platinum Extended Warranty Programme. Sales of the company's mid-size sedan Ciaz seem to have come under pressure with 43% tax being levied on hybrid cars.
* MOSER BAER INDIA: Has declared a lock-out at its Greater Noida factory due to a strike by workers at the plant.
* MUTHOOT CAPITAL SERVICES: Has set the floor price for its qualified institutional placement of securities at 628.98 rupees per share.
* NARAYANA HRUDAYALAYA: The company, through its wholly-owned subsidiary Narayana Cayman Holdings, will buy the remaining 71.4% stake in Health City Cayman Island from Ascension Health Ventures LLC, US, for $32.26 mln.
* NEW DELHI TELEVISION: RRPR, the biggest promoter shareholder in the company, said it believes that there is no encumbrance of shareholding in the company following provisional attachment of the entire 29.12% interest.
* NTPC: The power ministry has constituted a four-member panel to probe the blast at the company's Unchahar plant at Raebareli in Uttar Pradesh, in which over 30 people lost their lives and about 50 were injured.
* NU TEK INDIA: Has received a notice of liquidation of its subsidiary Nu Tek HK from international law company INCE
& Co.
* OIL AND NATURAL GAS CORP: GAIL INDIA along with the company may end up being the first public sector undertakings to take over a company undergoing an insolvency resolution.
* PARAG MILK FOODS: Abu Dhabi Investment has sold 0.6% stake in, or 496,501 shares of, the company at 282.50 rupees per share through bulk deal on the National Stock Exchange.
* PUNJAB NATIONAL BANK: Has proposed to mop up 50 bln rupees from share sale in next few months and has appointed merchant bankers for it.
* RELIANCE COMMUNICATIONS: Has signed a binding memorandum of understanding with Veecon Media and Television to sell its direct-to-home operations to pare debt. With the bulk of its wireless telephony business shutting down, the company skipped interest payment to its bond holders. The company didn't pay he interest, of about $9.75 ln due on its $300-mln bonds that will mature n 2020.
* RELIANCE INDUSTRIES: Ratings agency Moody's Investors Service has cut the company’s domestic long-term rating outlook to 'stable' from 'positive' iting increase in risks to its business because of its growing digital services business.
* RURAL ELECTRIFICATION CORP: Loan book of the non-banking financial company as 2.16 trln rupees as of Sep 30, while the outstanding borrowings were 1.76 rln rupees. The Indian Railways may rope in the company to fund its ambitious plan to lectrify the entire network by 2021-22.
* STATE BANK OF INDIA: Refusing to comment on the ethicality of promoters articipating in the bidding process of their companies, referred under the insolvency and Bankruptcy Code, the bank's Chairman Rajnish Kumar said it is legal and promoters "are within their right to participate". The bank's Managing Director B. Sriram has said better and faster vailability of data has allowed for improved credit quality for banks.
* TATA CHEMICALS: The board has approved sale of its Haldia fertiliser unit n West Bengal to Netherlands-based Indorama Holdings BV for 3.75 bln rupees.
* TATA STEEL: Has commissioned a Coke Dry Quenching facility with a capacity f 200 tn per hour, at its greenfield steel plant at the Kalinganagar industrial Complex in Jajpur, Odisha.
* TITAN CO: Has invested $3 mln-$5 mln in wearable tech internet of things startup CoveIoT.
* TVS MOTOR CO: Has announced that the Apache RTR 200 4V electronic fuel injection variant is now available in the market and priced tvs apache price 07,005 rupees.
* VIDEOCON INDUSTRIES: After months of due diligence, the company is finally selling its home appliances business Kenstar to Everstone Group.
* WHEELS INDIA: A joint venture between TVS group, the company and Topy industries of Japan, will set up a new steel wheel plant at Vanod in Gujarat. Has decided to close down its operations at Pantnagar, and said the move is part of ongoing strategic business decision.
