Today Stock News – 04.04.2018
* AKZO NOBEL INDIA: Company's board will meet on Friday to consider a proposal to buy back shares.
* AU SMALL FINANCE BANK: Has tied up with Future Generali India Life Insurance Co for distribution of life insurance product.
* BINANI INDUSTRIES: The stalemate over the debt resolution of arm Binani Cement is likely to end soon, with lenders planning to consider an out-of-court settlement today with the company and the promoters.
* BRIGADE ENTERPRISES: Will spend up to 100 bln rupees to double project launches across verticals, including residential, commercial and hospitality, in the next three years.
* CENTRUM CAPITAL: Centrum Group plans to explore inorganic growth opportunities and boost existing lending businesses with the capital raised through the sale of its money exchange business Centrum Direct to Ebix Inc, the group's Executive Chairman Jaspal Bindra said.
* COAL INDIA: In the next five to seven years, the company is likely to spend 200 bln rupees on buying its own railway rakes to transport the fuel to power plants and other sectors, Coal Minister Piyush Goyal said.
* FORTIS HEALTHCARE: East Bridge Capital Master Fund has bought an additional 3.86% stake in the company for over 2.56 bln rupees through a market transaction.
* GAIL INDIA: A splitting of the company into pipeline and gas-marketing entities seems imminent as the government has come to the view that it is necessary to create a gas-trading hub in the country and bring in transparency in price determination through an exchange.
* GENERAL INSURANCE CORP OF INDIA: Has once again won the contract for the reinsurance of OIL & NATURAL GAS CORP'S Offshore Package Policy programme 2018-2020.
* ICICI BANK: Has reiterated that there was "no question of any quid pro quo/nepotism/conflict of interest" in the process of loans authorisation to Videocon Group.
-Canada's Brookfield Asset Management Inc is in final stages of discussions with the bank to acquire the ICICI Tower in Hyderabad.
-Facing allegations of wrongdoing in the loan extended to Videocon Group, the bank's Chief Executive Officer Chanda Kochhar has pulled out of the annual session of FICCI Ladies Organisation, later this week, where she was to be felicitated by President Ram Nath Kovind.
* INDIAN OIL CORP: Will invest 91.37 bln rupees to set up a paraxylene/purified terephthalic acid plant near its Paradip Refinery in Odisha.
* INDUSIND BANK: Had announced a pilot with WhatsApp enterprise solution in India to communi
* JET AIRWAYS OF INDIA: Has entered into an agreement with The Boeing Co for purchase of 75 737 max aircraft.
* JUBILANT FOODWORKS: Has confirmed it had received a notice from the Directorate General of Safeguards in January for not passing on the benefits of lower goods and services tax to its consumers.
* LARSEN AND TOUBRO: The company, GENUS POWER INFRASTRUCTURE and Allied Engineering have bagged a contract to supply 10 mln pre-paid meters to Uttar Pradesh under the Saubhagya scheme, which aims to add more than 40 mln households to the power grid by December this year.
* MSP STEEL & POWER: Has successfully implemented debt restructuring scheme as on Mar 31 by
transferring 128.58 mln shares of the promoter group to the consortium of lenders.
* MUTHOOT FINANCE: Plans to raise up to 30 bln rupees through its 18th public issue of non- convertible debentures.
* PUNJAB NATIONAL BANK: The central government's stake in the bank has increased by 5.21 percentage points to 62.25% after the preferential allotment of 334.99 mln shares on Mar 27. (Cogencis) The bank's domestic business turnover crossed 10 trln rupees for the first time ever in 2017-18, registering a 7.9% increase over the previous year.
-Apportioning blame to the RBI over the bank's loan fraud, Central Vigilance Commissioner K.V.
Chowdary has said there had been "no apparent audit" by the central bank during the period of the scam.
* PUNJAB & SIND BANK: Has appointed General Manager Harvinder Sachdev as its chief financial officer.
* PUNJ LLOYD: Has defaulted on paying interest on non-convertible debentures, which was due on Sunday, according to a release by IDBI Trusteeship Services.
* RELIANCE INDUSTRIES: Jio Payments Bank, a joint venture between the company and STATE BANK OF INDIA in which the former has 70% stake, commenced operations, the Reserve Bank of India said. The company, Star India and Sony Pictures Networks are in the race to acquire the Board of Control for Cricket in
India's global television rights.
* RELIGARE ENTERPRISES: The company, its promoters and two subsidiaries have been barred by the Debts Recovery Tribunal from selling their assets.
* TATA MOTORS: Company's subsidiary Jaguar Land Rover India will launch at least 10 vehicles in the current financial year started Sunday.
* TATA STEEL: The board has decided to defer the matter on issuance of unsecured debt securities on private placement basis.
* UNION BANK OF INDIA: Japan's Dai-ichi Life Holdings will hold 39.62% of Union Asset Management Co's share capital after the fresh capital infusion by the former. Union Bank of India is the sponsor of the asset management company.
* VALECHA ENGINEERING: Has received an order worth 2.40 bln rupees from Maharashtra government for rehabilitation and up-gradation of two highways near Jalna and Aurangabad.
* VIP INDUSTRIES: Has appointed Sudip Ghose as chief executive officer with immediate effect.
* ZENSAR TECHNOLOGIES: Has received a $79-mln four-year order from City of San Diego to provide digital network enhancement infrastructure.
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* AU SMALL FINANCE BANK: Has tied up with Future Generali India Life Insurance Co for distribution of life insurance product.
* BINANI INDUSTRIES: The stalemate over the debt resolution of arm Binani Cement is likely to end soon, with lenders planning to consider an out-of-court settlement today with the company and the promoters.
* BRIGADE ENTERPRISES: Will spend up to 100 bln rupees to double project launches across verticals, including residential, commercial and hospitality, in the next three years.
* CENTRUM CAPITAL: Centrum Group plans to explore inorganic growth opportunities and boost existing lending businesses with the capital raised through the sale of its money exchange business Centrum Direct to Ebix Inc, the group's Executive Chairman Jaspal Bindra said.
* COAL INDIA: In the next five to seven years, the company is likely to spend 200 bln rupees on buying its own railway rakes to transport the fuel to power plants and other sectors, Coal Minister Piyush Goyal said.
* FORTIS HEALTHCARE: East Bridge Capital Master Fund has bought an additional 3.86% stake in the company for over 2.56 bln rupees through a market transaction.
* GAIL INDIA: A splitting of the company into pipeline and gas-marketing entities seems imminent as the government has come to the view that it is necessary to create a gas-trading hub in the country and bring in transparency in price determination through an exchange.
* GENERAL INSURANCE CORP OF INDIA: Has once again won the contract for the reinsurance of OIL & NATURAL GAS CORP'S Offshore Package Policy programme 2018-2020.
* ICICI BANK: Has reiterated that there was "no question of any quid pro quo/nepotism/conflict of interest" in the process of loans authorisation to Videocon Group.
-Canada's Brookfield Asset Management Inc is in final stages of discussions with the bank to acquire the ICICI Tower in Hyderabad.
-Facing allegations of wrongdoing in the loan extended to Videocon Group, the bank's Chief Executive Officer Chanda Kochhar has pulled out of the annual session of FICCI Ladies Organisation, later this week, where she was to be felicitated by President Ram Nath Kovind.
* INDIAN OIL CORP: Will invest 91.37 bln rupees to set up a paraxylene/purified terephthalic acid plant near its Paradip Refinery in Odisha.
* INDUSIND BANK: Had announced a pilot with WhatsApp enterprise solution in India to communi
* JET AIRWAYS OF INDIA: Has entered into an agreement with The Boeing Co for purchase of 75 737 max aircraft.
* JUBILANT FOODWORKS: Has confirmed it had received a notice from the Directorate General of Safeguards in January for not passing on the benefits of lower goods and services tax to its consumers.
* LARSEN AND TOUBRO: The company, GENUS POWER INFRASTRUCTURE and Allied Engineering have bagged a contract to supply 10 mln pre-paid meters to Uttar Pradesh under the Saubhagya scheme, which aims to add more than 40 mln households to the power grid by December this year.
* MSP STEEL & POWER: Has successfully implemented debt restructuring scheme as on Mar 31 by
transferring 128.58 mln shares of the promoter group to the consortium of lenders.
* MUTHOOT FINANCE: Plans to raise up to 30 bln rupees through its 18th public issue of non- convertible debentures.
* PUNJAB NATIONAL BANK: The central government's stake in the bank has increased by 5.21 percentage points to 62.25% after the preferential allotment of 334.99 mln shares on Mar 27. (Cogencis) The bank's domestic business turnover crossed 10 trln rupees for the first time ever in 2017-18, registering a 7.9% increase over the previous year.
-Apportioning blame to the RBI over the bank's loan fraud, Central Vigilance Commissioner K.V.
Chowdary has said there had been "no apparent audit" by the central bank during the period of the scam.
* PUNJAB & SIND BANK: Has appointed General Manager Harvinder Sachdev as its chief financial officer.
* PUNJ LLOYD: Has defaulted on paying interest on non-convertible debentures, which was due on Sunday, according to a release by IDBI Trusteeship Services.
* RELIANCE INDUSTRIES: Jio Payments Bank, a joint venture between the company and STATE BANK OF INDIA in which the former has 70% stake, commenced operations, the Reserve Bank of India said. The company, Star India and Sony Pictures Networks are in the race to acquire the Board of Control for Cricket in
India's global television rights.
* RELIGARE ENTERPRISES: The company, its promoters and two subsidiaries have been barred by the Debts Recovery Tribunal from selling their assets.
* TATA MOTORS: Company's subsidiary Jaguar Land Rover India will launch at least 10 vehicles in the current financial year started Sunday.
* TATA STEEL: The board has decided to defer the matter on issuance of unsecured debt securities on private placement basis.
* UNION BANK OF INDIA: Japan's Dai-ichi Life Holdings will hold 39.62% of Union Asset Management Co's share capital after the fresh capital infusion by the former. Union Bank of India is the sponsor of the asset management company.
* VALECHA ENGINEERING: Has received an order worth 2.40 bln rupees from Maharashtra government for rehabilitation and up-gradation of two highways near Jalna and Aurangabad.
* VIP INDUSTRIES: Has appointed Sudip Ghose as chief executive officer with immediate effect.
* ZENSAR TECHNOLOGIES: Has received a $79-mln four-year order from City of San Diego to provide digital network enhancement infrastructure.
