Daily Stock News Today – 28.12.2017
* ALLAHABAD BANK: Is likely to set a coupon of 10% on its tier-I bonds.
* ARSHIYA: Board has approved partly converting "crystallised liability" of 116 mln rupees due to AXIS BANK by issuing 1.05 mln shares to it.
* AXIS BANK: The Securities and Exchange Board of India has directed the bank to conduct an internal inquiry into leakage of its Apr-Jun earnings on messaging platform before official announcement.
* BAJAJ AUTO: Nirav Trust sold 1.67 mln shares of the company at 3,351.40 rupees per share in a bulk deal on BSE.
* BAJAJ ELECTRICALS: Promoter Anant Bajaj, through Anant Bajaj Trust, has sold 2.18 mln shares or 2.15% stake in the company on the BSE at 475 rupees apiece through bulk deals.
* BAJAJ FINSERV: Anant Bajaj Trust sold 919,650 shares of the company at 5,372.14 rupees apiece
through a bulk deal on the BSE.
* DLF: The shareholders approved an issue of debentures and warrants to promoters in lieu of 112.5
bln rupee equity infusion into the company to reduce company's net debt significantly.
* DREDGING CORP OF INDIA: The government invited bids to appoint legal advisers for the strategic sale of the company, HLL Life care, and Indian Medicines Pharmaceutical Corp, according to a notification by the Department of Investment and Public Asset Management.
* EMAMI: SEBI on Wednesday imposed a penalty of 800,000 rupees on the company's chairman RS
Agarwal in a matter related to Amrutanjan Healthcare.
* FORTIS HEALTHCARE: Japanese drug maker Daiichi Sankyo, locked in a legal battle with promoters of the company Malvinder and Shivinder Singh, has alerted regulatory bodies and the stock exchanges against any potential stake sale in the hospital chain, saying such a transaction would violate a Supreme Court order.
* ICICI BANK: Rajasthan Police is investigating several cases of consumers being allegedly duped into buying insurance policies by officials of the bank and ICICI PRUDENTIAL LIFE INSURANCE CO.
* INDIAN OVERSEAS BANK: Is selling 6 bln rupees worth exposure in BHUSHAN STEEL.
* INDOSOLAR: Board will meet on Saturday to consider allotment of 207 mln optionally convertible preference shares to UNION BANK OF INDIA to settle part of its loan.
* JAMMU AND KASHMIR BANK: IL&FS Financial Services has tied up with the bank to finance
hydropower projects in Jammu and Kashmir.
* JINDAL STEEL AND POWER: Is targeting steel sales of 7.5 mln to 8 mln tn in 2018-19 (Apr-Mar).
* KOLTE-PATIL DEVELOPERS: KKR and Co has committed 1.93 bln rupees for a township project being developed by a joint venture between the company and ICICI Venture Funds Management Co
* LUPIN: Has dragged the government to court, claiming the stock lying in its godowns could face
double taxation when it's sold.
* MARUTI SUZUKI INDIA: Will invest 150 mln rupees to set up automated driving test centres across 12 locations in Delhi, in multiple phases.
* MONNET ISPAT AND ENERGY: The Aion Capital-JSW STEEL consortium, which last week emerged as the frontrunner to acquire the bankrupt company, submitted a 35-bln-rupee resolution plan that involves paying 25 bln rupees to lenders and an equity investment of 10 bln rupees, backed by a letter of comfort from ICICI BANK. Creditors of the company and JYOTI STRUCTURE have called for fresh bids from potential suitors of the two companies which are in bankruptcy court, citing new criteria to assess bidders.
* MUTHOOT CAPITAL SERVICES: Muthoot Microfin is in talks with three-four private equity firms to raise 3-6 bln rupees in Jan-Mar.
* PARAMOUNT COMMUNICATIONS: Board will meet on Saturday to consider and approve a proposal to convert 7.5 mln foreign currency convertible bonds into shares.
* SEAMEC: Has sought the recall of an order imposing customs duty, penalty and confiscation of three of its vessels.
* SPICE MOBILITY: The agreement to transfer some subsidiaries of Spice VAS (Africa) to SVA
(Mauritius) stands terminated effective Dec 21.
* STAR CEMENT: The Company, along with subsidiary Star Cement Meghalaya, has received 1.59 bln rupees as capital investment subsidy claims from the government.
* STATE BANK OF INDIA: The central board of the bank has approved rising up to 80 bln rupees as
additional tier-I capital through Basel III-compliant tier-I bonds till Mar 31.
* TATA STEEL: Has appointed a bunch of domestic investment banks to manage its proposed rights
issue of about $2 bln.Is ramping up production at its Khondbond iron ore mine in Odisha to fuel
Expansion of the Kalinganagar plant.
* TARA JEWELS: Promoters sold 1.8 mln shares or 7.32% stake in the company through the open
market Dec 18-26 for 246.2 mln rupees.
* UNITED BANK OF INDIA: Raised 1 bln rupees through Basel III-compliant tier-I bonds.
* VISHAL FABRICS: Promoter Devkinandan Corp LLP sold 235,000 shares or 1.07% stake in the
company on BSE through bulk deals to Asia Investment Corp at 315 rupees a share.
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* ARSHIYA: Board has approved partly converting "crystallised liability" of 116 mln rupees due to AXIS BANK by issuing 1.05 mln shares to it.
* AXIS BANK: The Securities and Exchange Board of India has directed the bank to conduct an internal inquiry into leakage of its Apr-Jun earnings on messaging platform before official announcement.
* BAJAJ AUTO: Nirav Trust sold 1.67 mln shares of the company at 3,351.40 rupees per share in a bulk deal on BSE.
* BAJAJ ELECTRICALS: Promoter Anant Bajaj, through Anant Bajaj Trust, has sold 2.18 mln shares or 2.15% stake in the company on the BSE at 475 rupees apiece through bulk deals.
* BAJAJ FINSERV: Anant Bajaj Trust sold 919,650 shares of the company at 5,372.14 rupees apiece
through a bulk deal on the BSE.
* DLF: The shareholders approved an issue of debentures and warrants to promoters in lieu of 112.5
bln rupee equity infusion into the company to reduce company's net debt significantly.
* DREDGING CORP OF INDIA: The government invited bids to appoint legal advisers for the strategic sale of the company, HLL Life care, and Indian Medicines Pharmaceutical Corp, according to a notification by the Department of Investment and Public Asset Management.
* EMAMI: SEBI on Wednesday imposed a penalty of 800,000 rupees on the company's chairman RS
Agarwal in a matter related to Amrutanjan Healthcare.
* FORTIS HEALTHCARE: Japanese drug maker Daiichi Sankyo, locked in a legal battle with promoters of the company Malvinder and Shivinder Singh, has alerted regulatory bodies and the stock exchanges against any potential stake sale in the hospital chain, saying such a transaction would violate a Supreme Court order.
* ICICI BANK: Rajasthan Police is investigating several cases of consumers being allegedly duped into buying insurance policies by officials of the bank and ICICI PRUDENTIAL LIFE INSURANCE CO.
* INDIAN OVERSEAS BANK: Is selling 6 bln rupees worth exposure in BHUSHAN STEEL.
* INDOSOLAR: Board will meet on Saturday to consider allotment of 207 mln optionally convertible preference shares to UNION BANK OF INDIA to settle part of its loan.
* JAMMU AND KASHMIR BANK: IL&FS Financial Services has tied up with the bank to finance
hydropower projects in Jammu and Kashmir.
* JINDAL STEEL AND POWER: Is targeting steel sales of 7.5 mln to 8 mln tn in 2018-19 (Apr-Mar).
* KOLTE-PATIL DEVELOPERS: KKR and Co has committed 1.93 bln rupees for a township project being developed by a joint venture between the company and ICICI Venture Funds Management Co
* LUPIN: Has dragged the government to court, claiming the stock lying in its godowns could face
double taxation when it's sold.
* MARUTI SUZUKI INDIA: Will invest 150 mln rupees to set up automated driving test centres across 12 locations in Delhi, in multiple phases.
* MONNET ISPAT AND ENERGY: The Aion Capital-JSW STEEL consortium, which last week emerged as the frontrunner to acquire the bankrupt company, submitted a 35-bln-rupee resolution plan that involves paying 25 bln rupees to lenders and an equity investment of 10 bln rupees, backed by a letter of comfort from ICICI BANK. Creditors of the company and JYOTI STRUCTURE have called for fresh bids from potential suitors of the two companies which are in bankruptcy court, citing new criteria to assess bidders.
* MUTHOOT CAPITAL SERVICES: Muthoot Microfin is in talks with three-four private equity firms to raise 3-6 bln rupees in Jan-Mar.
* PARAMOUNT COMMUNICATIONS: Board will meet on Saturday to consider and approve a proposal to convert 7.5 mln foreign currency convertible bonds into shares.
* SEAMEC: Has sought the recall of an order imposing customs duty, penalty and confiscation of three of its vessels.
* SPICE MOBILITY: The agreement to transfer some subsidiaries of Spice VAS (Africa) to SVA
(Mauritius) stands terminated effective Dec 21.
* STAR CEMENT: The Company, along with subsidiary Star Cement Meghalaya, has received 1.59 bln rupees as capital investment subsidy claims from the government.
* STATE BANK OF INDIA: The central board of the bank has approved rising up to 80 bln rupees as
additional tier-I capital through Basel III-compliant tier-I bonds till Mar 31.
* TATA STEEL: Has appointed a bunch of domestic investment banks to manage its proposed rights
issue of about $2 bln.Is ramping up production at its Khondbond iron ore mine in Odisha to fuel
Expansion of the Kalinganagar plant.
* TARA JEWELS: Promoters sold 1.8 mln shares or 7.32% stake in the company through the open
market Dec 18-26 for 246.2 mln rupees.
* UNITED BANK OF INDIA: Raised 1 bln rupees through Basel III-compliant tier-I bonds.
* VISHAL FABRICS: Promoter Devkinandan Corp LLP sold 235,000 shares or 1.07% stake in the
company on BSE through bulk deals to Asia Investment Corp at 315 rupees a share.
