Daily Stock News Today – 13.11.2017
* ADANI TRANSMISSION: Is likely to clinch a deal of 130-140 bln rupees with RELIANCE
INFRASTRUCTURE to acquire its Mumbai power business.
* ADITYA BIRLA FASHION AND RETAIL: Has trimmed prices of its apparel range at Pantaloons Retail by 7-8% as the company passed on the benefits of the goods and services tax to customers and sharpened its focus on value fashion.
* ALLAHABAD BANK: Has identified close to 20 accounts, with a total exposure of around 9.08 bln rupees, for referring to the National Company Law Tribunal.
* ALLCARGO LOGISTICS: Expects to secure the Indian Railways' final approval to commence work on its logistics park in Jhajjar, Haryana, in a month, Chairman Shashi Kiran Shetty said.
* AMARA RAJA BATTERIES: Is aiming to be a 100-bln-rupee entity in the next two-three years as the Hyderabad-based company clocks a solid double-digit growth in its automotive segment.
* AXIS BANK: The company's board approved raising 116.26 bln rupees through issuance of equity worth 90.63 bln rupees and warrants worth 25.63 bln rupees.
* BANK OF INDIA: Debt-laden Air India has received a loan of 15 bln rupees from the bank to meet urgent working capital needs less than a month after floating a tender in this regard.
* BANK OF MAHARASHTRA: Has received Securities and Exchange Board of India's approval for an 8- bln-rupee qualified institutional placement of shares.
* BRIGADE ENTERPRISES: Plans to launch nine projects worth a combined 2.66 mln sq ft in Oct-Mar.
* BSE LTD: Marketplace Technologies, a subsidiary of the company, will act as service bureau of SWIFT India for securities market in India.
* CADILA HEALTHCARE: The company said it is not required to obtain a licence from relevant authorities in India to sell its hypertension drug as it is only distributing the drug.
* EVEREADY INDUSTRIES: Plans to enter into a 50-50 partnership with MCLEOD RUSSEL INDIA to hive off its packet tea operations into a joint venture company, Greendale India.
* HATSUN AGRO PRODUCT: DSP Blackrock Mutual Fund bought 1.89 mln shares or 1.24% stake in the company at 735 rupees a share in a bulk deal on the National Stock Exchange.
* HINDUSTAN COPPER: The board has approved the formation of a joint venture with NATIONAL
ALUMINIUM CO and Mineral Exploration Corp for exploration and mining of strategic minerals abroad.
* HINDUSTAN OIL EXPLORATION CO: The company has submitted exploration plan for Mumbai
offshore block to Directorate General of Hydrocarbon.
* HINDUSTAN PETROLEUM CORP: The company is entering a new phase, with OIL AND NATURAL GAS CORP expected to take over the firm by March.
* ICICI BANK: ICICI Bank will cut its Base Rate by 15 basis points to 8.85%, effective Monday, according to the lender's website.
* IDFC: Global Infrastructure Partners is close to acquiring IDFC Group's private equity portfolio that has investments of around 170 bln rupees in Indian infrastructure companies.
* IPCA LABORATORIES: The Global Fund will resume buying anti-malaria drugs from the company after stopping purchases in April 2016.
* JAYPEE INFRATECH: JSW Group, VEDANTA, Lodha Group and Deutsche Bank are among the 18 companies that have shown interest in buying the company in full or in part.
* KITEX GARMENTS: The company is looking at Karnataka to expand its operations.
* MAGMA FINCORP: Hopes to bring down loans in the 90-120 day overdue bracket down by over 2 bln rupees by the end of March, against its earlier guidance of reducing it by 1.5-2.0 bln rupees, Managing Director Sanjay Chamria said.
* MAHINDRA & MAHINDRA: Has decided to put on hold the plan to bring Peugeot scooters in India as customers are not yet ready to pay the correct price.
* MAYUR UNIQUOTERS: The company's board will mull buyback of shares on Nov 17.
* PETRONET LNG: Has moved plans to buy 25% stake in Gujarat State Petroleum Corp's almost-complete 45-bln-rupee Mundra LNG commodity terminal in Gujarat to allow its advertiser INDIAN OIL CORP to pick a large stake.
* PIRAMAL ENTERPRISES: Piramal Finance, subsidiary of the company has sanctioned a 4-bln-rupee loan to Gurugram-based Advance India Projects, primarily for construction finance.
* PINCON SPIRIT: The company said police have sealed the company's Kolkata office on Wednesday. Action against the company's Kolkata office comes a week after Chairman and Managing Director Monoranjan Roy was arrested by Rajasthan police.
* RELIANCE COMMUNICATIONS: The strategic debt restructuring plans of the company appear to have hit a road block, with the company and its lenders sparring over the treatment of loans given by group entities to the embattled company.
* RELIANCE INDUSTRIES: Recently introduced RElan portfolio specialty fabrics, is in talks with several apparel brands for co-branding of apparels. The Cellular Operators Association of India wants the sector regulator to examine the recently-launched cashback offerings of the company's telecom unit Reliance Jio Infocomm. Arm Reliance Jio Infocomm is raising a combined $1.5 bln from more than two dozen overseas banks to refinance loans taken in 2010 and guaranteed by the parent firm. Is to increase its presence in the polyester space after the launch of its new brand, RElan, through which it will get into co-branding of apparel.
* STATE BANK OF INDIA: The bank has cut its credit growth target for 2017-18 (Apr-Mar) again, with Chairman Rajnish Kumar saying that he does not see credit growth for the year exceeding 5-6%.
* TATA TELESERVICES: Ahead of the sale of its consumer mobile services business to BHARTI AIRTEL, Tata Sons plans to infuse over 360 bln in the company to strengthen the telecom company's balance sheet.
* TECHNOCRAFT INDUSTRIES (India): The board has approved buyback of 2.8 mln shares, which represents less than 25% of the total paid-up share capital, at 525 rupees apiece.
* UJJIVAN FINANCIAL SERVICES: Private equity firm Creador has invested 2.15 bln rupees in the
company.
* UNION BANK OF INDIA: The board of the bank approved raising up to 23 bln rupees through the
issuance of Basel-III compliant tier-I bonds.
* VIDEOCON INDUSTRIES: The company denied any wrongdoing, as alleged in a report by The Indian Express newspaper, based on leak of data from what is known as 'Paradise Papers'.
* WELSPUN ENTERPRISES: The company and the National Highways Authority of India will together execute a project worth 11.6 bln rupees for six-laning of roads in Bihar.
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INFRASTRUCTURE to acquire its Mumbai power business.
* ADITYA BIRLA FASHION AND RETAIL: Has trimmed prices of its apparel range at Pantaloons Retail by 7-8% as the company passed on the benefits of the goods and services tax to customers and sharpened its focus on value fashion.
* ALLAHABAD BANK: Has identified close to 20 accounts, with a total exposure of around 9.08 bln rupees, for referring to the National Company Law Tribunal.
* ALLCARGO LOGISTICS: Expects to secure the Indian Railways' final approval to commence work on its logistics park in Jhajjar, Haryana, in a month, Chairman Shashi Kiran Shetty said.
* AMARA RAJA BATTERIES: Is aiming to be a 100-bln-rupee entity in the next two-three years as the Hyderabad-based company clocks a solid double-digit growth in its automotive segment.
* AXIS BANK: The company's board approved raising 116.26 bln rupees through issuance of equity worth 90.63 bln rupees and warrants worth 25.63 bln rupees.
* BANK OF INDIA: Debt-laden Air India has received a loan of 15 bln rupees from the bank to meet urgent working capital needs less than a month after floating a tender in this regard.
* BANK OF MAHARASHTRA: Has received Securities and Exchange Board of India's approval for an 8- bln-rupee qualified institutional placement of shares.
* BRIGADE ENTERPRISES: Plans to launch nine projects worth a combined 2.66 mln sq ft in Oct-Mar.
* BSE LTD: Marketplace Technologies, a subsidiary of the company, will act as service bureau of SWIFT India for securities market in India.
* CADILA HEALTHCARE: The company said it is not required to obtain a licence from relevant authorities in India to sell its hypertension drug as it is only distributing the drug.
* EVEREADY INDUSTRIES: Plans to enter into a 50-50 partnership with MCLEOD RUSSEL INDIA to hive off its packet tea operations into a joint venture company, Greendale India.
* HATSUN AGRO PRODUCT: DSP Blackrock Mutual Fund bought 1.89 mln shares or 1.24% stake in the company at 735 rupees a share in a bulk deal on the National Stock Exchange.
* HINDUSTAN COPPER: The board has approved the formation of a joint venture with NATIONAL
ALUMINIUM CO and Mineral Exploration Corp for exploration and mining of strategic minerals abroad.
* HINDUSTAN OIL EXPLORATION CO: The company has submitted exploration plan for Mumbai
offshore block to Directorate General of Hydrocarbon.
* HINDUSTAN PETROLEUM CORP: The company is entering a new phase, with OIL AND NATURAL GAS CORP expected to take over the firm by March.
* ICICI BANK: ICICI Bank will cut its Base Rate by 15 basis points to 8.85%, effective Monday, according to the lender's website.
* IDFC: Global Infrastructure Partners is close to acquiring IDFC Group's private equity portfolio that has investments of around 170 bln rupees in Indian infrastructure companies.
* IPCA LABORATORIES: The Global Fund will resume buying anti-malaria drugs from the company after stopping purchases in April 2016.
* JAYPEE INFRATECH: JSW Group, VEDANTA, Lodha Group and Deutsche Bank are among the 18 companies that have shown interest in buying the company in full or in part.
* KITEX GARMENTS: The company is looking at Karnataka to expand its operations.
* MAGMA FINCORP: Hopes to bring down loans in the 90-120 day overdue bracket down by over 2 bln rupees by the end of March, against its earlier guidance of reducing it by 1.5-2.0 bln rupees, Managing Director Sanjay Chamria said.
* MAHINDRA & MAHINDRA: Has decided to put on hold the plan to bring Peugeot scooters in India as customers are not yet ready to pay the correct price.
* MAYUR UNIQUOTERS: The company's board will mull buyback of shares on Nov 17.
* PETRONET LNG: Has moved plans to buy 25% stake in Gujarat State Petroleum Corp's almost-complete 45-bln-rupee Mundra LNG commodity terminal in Gujarat to allow its advertiser INDIAN OIL CORP to pick a large stake.
* PIRAMAL ENTERPRISES: Piramal Finance, subsidiary of the company has sanctioned a 4-bln-rupee loan to Gurugram-based Advance India Projects, primarily for construction finance.
* PINCON SPIRIT: The company said police have sealed the company's Kolkata office on Wednesday. Action against the company's Kolkata office comes a week after Chairman and Managing Director Monoranjan Roy was arrested by Rajasthan police.
* RELIANCE COMMUNICATIONS: The strategic debt restructuring plans of the company appear to have hit a road block, with the company and its lenders sparring over the treatment of loans given by group entities to the embattled company.
* RELIANCE INDUSTRIES: Recently introduced RElan portfolio specialty fabrics, is in talks with several apparel brands for co-branding of apparels. The Cellular Operators Association of India wants the sector regulator to examine the recently-launched cashback offerings of the company's telecom unit Reliance Jio Infocomm. Arm Reliance Jio Infocomm is raising a combined $1.5 bln from more than two dozen overseas banks to refinance loans taken in 2010 and guaranteed by the parent firm. Is to increase its presence in the polyester space after the launch of its new brand, RElan, through which it will get into co-branding of apparel.
* STATE BANK OF INDIA: The bank has cut its credit growth target for 2017-18 (Apr-Mar) again, with Chairman Rajnish Kumar saying that he does not see credit growth for the year exceeding 5-6%.
* TATA TELESERVICES: Ahead of the sale of its consumer mobile services business to BHARTI AIRTEL, Tata Sons plans to infuse over 360 bln in the company to strengthen the telecom company's balance sheet.
* TECHNOCRAFT INDUSTRIES (India): The board has approved buyback of 2.8 mln shares, which represents less than 25% of the total paid-up share capital, at 525 rupees apiece.
* UJJIVAN FINANCIAL SERVICES: Private equity firm Creador has invested 2.15 bln rupees in the
company.
* UNION BANK OF INDIA: The board of the bank approved raising up to 23 bln rupees through the
issuance of Basel-III compliant tier-I bonds.
* VIDEOCON INDUSTRIES: The company denied any wrongdoing, as alleged in a report by The Indian Express newspaper, based on leak of data from what is known as 'Paradise Papers'.
* WELSPUN ENTERPRISES: The company and the National Highways Authority of India will together execute a project worth 11.6 bln rupees for six-laning of roads in Bihar.
