Today Stock News – 20.03.2018
* ARFIN INDIA: Has received an order for calcium management and ferro boron management at JSW STEEL's plant in Dolvi for 100% steel production for a year.
* ASHOK LEYLAND: Has bagged its first major electric bus order, for the supply of 50 buses to the Ahmedabad Bus Rapid Transit System.
* AXIS BANK: Has opened a representative office at Sharjah in the UAE on Sunday to provide services to non-resident Indians in the Emirates, and also serve customers in Ajman, Umm Al Quwain, Ras Al Khaimah, and Fujairah. After a complaint by the bank, the Economic Offences Wing of Mumbai police has arrested three directors of two private firms who were alleged beneficiaries of loans availed by Parekh Aluminex from the bank, which it "wilfully defaulted".
* BGR ENERGY SYSTEMS: The company's electrical projects division has received an order worth 876.80 mln rupees from Tamil Nadu Transmission Corp.
* BHARTI AIRTEL: Has added 4.17 mln mobile users in February as against 1.5 mln in January.
* CANARA BANK: The Central Bureau of Investigation said it has filed a chargesheet against a former chairman and managing director of the bank in a case of alleged cheating to the tune of about 684 mln rupees.
* CAPACITE INFRAPROJECTS: Has received an order worth 2.57 bln rupees from Alamelu Charitable Foundation for complete civil, electro-mechanical, and interior works at Banaras Hindu University, Uttar Pradesh.
* COAL INDIA: Is considering floating a joint venture with NTPC to set up plants at mines that do not have transportation access and for acquiring private stressed assets. Stocks at the company's pit heads have risen from about 20 mln tn in November to about 45 mln tn now, which is enough to run nearly a dozen 1,000 MW plants nonstop for a year at 85% capacity utilisation, but power stations remain starved of fuel.
* DISHMAN CARBOGEN AMCIS: Board has approved restructuring some of its overseas operations to consolidate ownership under one foreign holding company.
* FORTIS HEALTHCARE: The company's non-executive independent director Preetinder Singh Joshi has resigned, effective Monday.
* FUTURE RETAIL: The Reserve Bank of India had notified that foreign portfolio investors can now invest up to 49% of the paid-up capital in the company under the portfolio investment scheme, against the earlier cap of 24%.
* GAIL INDIA: The Petroleum and Natural Gas Regulatory Board has approved the extension of the company's Jagdishpur-Haldia-Bokaro-Dhamra Natural Gas Pipeline to Guwahati in Assam, Petroleum Minister Dharmendra Pradhan
said.
* GAMMON INDIA: Transrail Lighting, an associate of the company, and Ajanma Holdings, the holding company of Transrail Lighting, will acquire 90% stake in Gammon Transmission, a wholly-owned subsidiary, for 151 mln rupees.
* GHCL: JP Financial Services sold 3.02% stake, or 2.94 mln shares, of the company through open market on Friday.
* GODREJ AGROVET: Plans to bid for RUCHI SOYA INDUSTRIES, which is undergoing bankruptcy resolution, with an eye on its palm oil business.
* GRANULES INDIA: US Food and Drug Administration has approved the abbreviated new drug application filed by the company for Metformin extended release tablets in 500 mg and 750 mg strengths.
* GTL: Lenders have agreed for a sale of assets of the company, which will be divided among them under an agreed formula, in a relief for the telecom infrastructure company that was on the brink of liquidation.
* GUJARAT STATE PETRONET: Will acquire a 28.4% stake or 39.1 mln shares in GUJARAT GAS from Gujarat State Petroleum Corp by way of inter-se transfer.
* HOUSING DEVELOPMENT FINANCE CORP: Baring Private Equity Partners Asia and the company are in the final race to acquire Can Fin Homes, a home mortgage lender put on the block by CANARA BANK.
* IDEA CELLULAR: Has added 4.42 mln mobile users in February as against 1.14 mln in January.
* INDIABULLS HOUSING FINANCE: Has raised 8.5 bln rupees through two non-convertible debentures.
* INTERGLOBE AVIATION: Its passenger load factor or capacity utilisation was at 91.8%, compared with 89.7% the previous month and its market share in February were 39.9% as against 39.7% in January. The company-led IndiGo has grounded an Airbus A320neo plane after it developed technical snags, the ninth such aircraft to be grounded in the past week.
* JAYPEE INFRATECH: The resolution process for the beleaguered infrastructure development company engaged in the development of Yamuna Expressway and related real estate, is unlikely to get settled any time soon, given the reported call for revised bids and the nature of bids submitted.
* JET AIRWAYS: Capacity utilisation of the company in February were at 90.4% and its market share in February were at 16.8% as against 16.6% January.
* LARSEN & TOUBRO: IndInfravit Trust, the infrastructure investment trust of L&T Infrastructure Developers a subsidiary of the company is in the process of raising 30 bln rupees. Has emerged the lowest bidder in a tender issued by COCHIN SHIPYARD for the engineering, procurement and construction contract of a new dry dock the third in the state-run yard.
* L&T TECHNOLOGY SERVICES: Has raised salaries of freshers by 25% to about 400,000 rupees per annum in a bid to attract fresh talent, though entry-level compensation has remained at the same level for many years in the information technology services industry.
* MMTC: Board has approved the issue of one bonus equity share for every two share held in the company.
* NARAYANA HRUDAYALAYA: Has commissioned its tertiary care hospital in Gurugram.
* NATIONAL ALUMINIUM CO: Has firmed up plans to set up a joint venture with Ontario (Canada)-based Almex for the production of automotive-grade aluminium.
* NOVARTIS INDIA: Jawed Zia, former managing director of the company, who quit days after being appointed to head the Swiss drug company's India business, might be moving to rival drug maker ABBOTT INDIA.
* PRISM CEMENT: The company's step-down joint venture Spectrum Johnson Tiles has completed the expansion of a 3 mln sq mtr per annum large format glazed vitrified tiles capacity at plant in Matel, Gujarat.
* RELIGARE ENTERPRISES: National Company Law Tribunal has allowed an application for withdrawal of India Horizon Fund's petition against the company, and has dismissed the original petition as withdrawn.
* RURAL ELECTRIFICATION CORP: Has plans to raise up to 40 bln rupees through issue of government-serviced bonds maturing in 10 years.
* SEAMEC: Has made an agreement with Seahorse and Egypt-based PMS to settle outstanding dues
of $3.65 mln for $3.29 mln.
* SHRI LAKSHMI COTSYN: Has clarified that so far, no bank has declared it a willful defaulter. This follows news reports had the Kanpur-based company had failed to repay 39.72 bln rupees borrowed from a consortium of lenders ledby CENTRAL BANK OF INDIA.
* SPICEJET: Has posted the highest passenger load factor at 96.3% in February and its market share in February was at 12.4% as against 12.6% in January.
* STATE BANK OF INDIA: Has tied up with India Mortgage Guarantee Corp to offer mortgage guarantee-backed home loans to non-salaried and self-employed customers, noting the rising demand in the affordable housing segment. The law that regulates and supervises banking companies in India does not wholly apply to the bank, other governmentowned lenders and regional rural banks. The bank's Hong Kong branch has challenged the lenders' decision to declare DALMIA BHARAT-Bain Piramal consortium the winner for Binani Cement, in yet another twist to the more than 70-blnrupee case which is awaiting a go-ahead from the National Company Law Tribunal.
* UTTAM GALVA STEELS: Has offered to settle the 56.54-bln-rupee loan defaulted by paying 51% of the amount upfront to public sector banks so as to abort the auctioning of the company's assets.
* YES BANK: Following its plans to issue a second tranche of notes under its medium-term note programme, the bank said its board would consider their final terms, including issue price and allotment date, on or after Thursday.
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* ASHOK LEYLAND: Has bagged its first major electric bus order, for the supply of 50 buses to the Ahmedabad Bus Rapid Transit System.
* AXIS BANK: Has opened a representative office at Sharjah in the UAE on Sunday to provide services to non-resident Indians in the Emirates, and also serve customers in Ajman, Umm Al Quwain, Ras Al Khaimah, and Fujairah. After a complaint by the bank, the Economic Offences Wing of Mumbai police has arrested three directors of two private firms who were alleged beneficiaries of loans availed by Parekh Aluminex from the bank, which it "wilfully defaulted".
* BGR ENERGY SYSTEMS: The company's electrical projects division has received an order worth 876.80 mln rupees from Tamil Nadu Transmission Corp.
* BHARTI AIRTEL: Has added 4.17 mln mobile users in February as against 1.5 mln in January.
* CANARA BANK: The Central Bureau of Investigation said it has filed a chargesheet against a former chairman and managing director of the bank in a case of alleged cheating to the tune of about 684 mln rupees.
* CAPACITE INFRAPROJECTS: Has received an order worth 2.57 bln rupees from Alamelu Charitable Foundation for complete civil, electro-mechanical, and interior works at Banaras Hindu University, Uttar Pradesh.
* COAL INDIA: Is considering floating a joint venture with NTPC to set up plants at mines that do not have transportation access and for acquiring private stressed assets. Stocks at the company's pit heads have risen from about 20 mln tn in November to about 45 mln tn now, which is enough to run nearly a dozen 1,000 MW plants nonstop for a year at 85% capacity utilisation, but power stations remain starved of fuel.
* DISHMAN CARBOGEN AMCIS: Board has approved restructuring some of its overseas operations to consolidate ownership under one foreign holding company.
* FORTIS HEALTHCARE: The company's non-executive independent director Preetinder Singh Joshi has resigned, effective Monday.
* FUTURE RETAIL: The Reserve Bank of India had notified that foreign portfolio investors can now invest up to 49% of the paid-up capital in the company under the portfolio investment scheme, against the earlier cap of 24%.
* GAIL INDIA: The Petroleum and Natural Gas Regulatory Board has approved the extension of the company's Jagdishpur-Haldia-Bokaro-Dhamra Natural Gas Pipeline to Guwahati in Assam, Petroleum Minister Dharmendra Pradhan
said.
* GAMMON INDIA: Transrail Lighting, an associate of the company, and Ajanma Holdings, the holding company of Transrail Lighting, will acquire 90% stake in Gammon Transmission, a wholly-owned subsidiary, for 151 mln rupees.
* GHCL: JP Financial Services sold 3.02% stake, or 2.94 mln shares, of the company through open market on Friday.
* GODREJ AGROVET: Plans to bid for RUCHI SOYA INDUSTRIES, which is undergoing bankruptcy resolution, with an eye on its palm oil business.
* GRANULES INDIA: US Food and Drug Administration has approved the abbreviated new drug application filed by the company for Metformin extended release tablets in 500 mg and 750 mg strengths.
* GTL: Lenders have agreed for a sale of assets of the company, which will be divided among them under an agreed formula, in a relief for the telecom infrastructure company that was on the brink of liquidation.
* GUJARAT STATE PETRONET: Will acquire a 28.4% stake or 39.1 mln shares in GUJARAT GAS from Gujarat State Petroleum Corp by way of inter-se transfer.
* HOUSING DEVELOPMENT FINANCE CORP: Baring Private Equity Partners Asia and the company are in the final race to acquire Can Fin Homes, a home mortgage lender put on the block by CANARA BANK.
* IDEA CELLULAR: Has added 4.42 mln mobile users in February as against 1.14 mln in January.
* INDIABULLS HOUSING FINANCE: Has raised 8.5 bln rupees through two non-convertible debentures.
* INTERGLOBE AVIATION: Its passenger load factor or capacity utilisation was at 91.8%, compared with 89.7% the previous month and its market share in February were 39.9% as against 39.7% in January. The company-led IndiGo has grounded an Airbus A320neo plane after it developed technical snags, the ninth such aircraft to be grounded in the past week.
* JAYPEE INFRATECH: The resolution process for the beleaguered infrastructure development company engaged in the development of Yamuna Expressway and related real estate, is unlikely to get settled any time soon, given the reported call for revised bids and the nature of bids submitted.
* JET AIRWAYS: Capacity utilisation of the company in February were at 90.4% and its market share in February were at 16.8% as against 16.6% January.
* LARSEN & TOUBRO: IndInfravit Trust, the infrastructure investment trust of L&T Infrastructure Developers a subsidiary of the company is in the process of raising 30 bln rupees. Has emerged the lowest bidder in a tender issued by COCHIN SHIPYARD for the engineering, procurement and construction contract of a new dry dock the third in the state-run yard.
* L&T TECHNOLOGY SERVICES: Has raised salaries of freshers by 25% to about 400,000 rupees per annum in a bid to attract fresh talent, though entry-level compensation has remained at the same level for many years in the information technology services industry.
* MMTC: Board has approved the issue of one bonus equity share for every two share held in the company.
* NARAYANA HRUDAYALAYA: Has commissioned its tertiary care hospital in Gurugram.
* NATIONAL ALUMINIUM CO: Has firmed up plans to set up a joint venture with Ontario (Canada)-based Almex for the production of automotive-grade aluminium.
* NOVARTIS INDIA: Jawed Zia, former managing director of the company, who quit days after being appointed to head the Swiss drug company's India business, might be moving to rival drug maker ABBOTT INDIA.
* PRISM CEMENT: The company's step-down joint venture Spectrum Johnson Tiles has completed the expansion of a 3 mln sq mtr per annum large format glazed vitrified tiles capacity at plant in Matel, Gujarat.
* RELIGARE ENTERPRISES: National Company Law Tribunal has allowed an application for withdrawal of India Horizon Fund's petition against the company, and has dismissed the original petition as withdrawn.
* RURAL ELECTRIFICATION CORP: Has plans to raise up to 40 bln rupees through issue of government-serviced bonds maturing in 10 years.
* SEAMEC: Has made an agreement with Seahorse and Egypt-based PMS to settle outstanding dues
of $3.65 mln for $3.29 mln.
* SHRI LAKSHMI COTSYN: Has clarified that so far, no bank has declared it a willful defaulter. This follows news reports had the Kanpur-based company had failed to repay 39.72 bln rupees borrowed from a consortium of lenders ledby CENTRAL BANK OF INDIA.
* SPICEJET: Has posted the highest passenger load factor at 96.3% in February and its market share in February was at 12.4% as against 12.6% in January.
* STATE BANK OF INDIA: Has tied up with India Mortgage Guarantee Corp to offer mortgage guarantee-backed home loans to non-salaried and self-employed customers, noting the rising demand in the affordable housing segment. The law that regulates and supervises banking companies in India does not wholly apply to the bank, other governmentowned lenders and regional rural banks. The bank's Hong Kong branch has challenged the lenders' decision to declare DALMIA BHARAT-Bain Piramal consortium the winner for Binani Cement, in yet another twist to the more than 70-blnrupee case which is awaiting a go-ahead from the National Company Law Tribunal.
* UTTAM GALVA STEELS: Has offered to settle the 56.54-bln-rupee loan defaulted by paying 51% of the amount upfront to public sector banks so as to abort the auctioning of the company's assets.
* YES BANK: Following its plans to issue a second tranche of notes under its medium-term note programme, the bank said its board would consider their final terms, including issue price and allotment date, on or after Thursday.
