Today Stock News – 12.04.2018
* 63 MOONS TECHNOLOGIES: Will move the Bombay High Court against the Economic Offences Wing of Mumbai's decision to freeze its operating account, jeopardising its operations.
* ACRYSIL: The board has approved allotment of 150,000 warrants to promoters at 550 rupees apiece company putting it in direct competition with the TPG-backed Manipal Health Enterprises, which on Tuesday improved its offer.
* GMR INFRASTRUCTURE: GMR Group will set up an aerospace and defence manufacturing hub at its special investment region in Krishnagiri district in Tamil Nadu.
* ICICI BANK: The Central Bureau of Investigation is investigating a 52.8-bln-rupee loan extended to GITANJALI GEMS group by a consortium of 31 lenders led by the bank. The Reserve Bank of India had carried out a detailed scrutiny of the complaint against the bank's dealings with Videocon two years ago but found no evidence of reciprocal benefit, stating the allegation "could not be conclusively established".
* IDBI BANK: Reserve Bank of India has imposed a 30-mln-rupee penalty on the bank for non-compliance with Income Recognition and Asset Classification norms.
* ITC: Is eyeing 10-12% market share in the packed juices and fruit beverages segment by next year as the company bets on its 'not from concentrate' range of juices.
* JAMMU & KASHMIR BANK: Has cut its one-year marginal cost of funds-based lending rates by 25 basis points to 8.70%, as per data on the lender's website.
* JAYPEE INFRATECH: Lakshadweep Ltd, a joint venture formed by two companies promoted by people with ties to billionaire Dilip Shanghvi, is set to acquire the company. The bids for the resolution process for the company is likely to be finalised by the end of April.
* JET AIRWAYS INDIA: Appointed former Civil Aviation Secretary Ashok Chawla as an independent director on its board.
* KWALITY: Letko Brosseau Emerging Markets Equity Fund has bought 4 mln shares or 1.7% stake in the company at 57.26 rupees per share in a bulk deal on the National Stock Exchange.
* LARSEN & TOUBRO: The company has signed a memorandum of understanding with Bharat Electronics to cater to the needs of evolving domestic and export markets for defence products.
* MAGMA FINCORP: Has terminated the investment agreement with Zend Mauritius VC Investments, one of the investors in the company and the promoters.
* MAHANAGAR GAS: The company's promoter BG Asia Pacific Holdings has reduced its stake in the company to 24% from 32.5%.
* MONNET ISPAT & ENERGY: Two top steel makers with ArcelorMittal questioning the selection of JSW STEEL-led consortium as the winning bid for the company.
* MPHASIS: Has collaborated with International Institute of Information Technology Bangalore to set up an Mphasis-IIIT-B centre of excellence for cognitive computing.
* ORIENTAL BANK OF COMMERCE: Has dragged steel maker Mittal Corp to the National Company Law Tribunal to begin bankruptcy proceedings.
* PETRON ENGINEERING CONSTRUCTION: The Mumbai bench of National Company Law Tribunal has commenced insolvency resolution process of the company against the petition filed by operational creditors.
* PETRONET LNG: Is looking to partner with ONGC Videsh to explore acquisition of a stake in an
upcoming gas production and liquefaction project in Qatar, the former's Managing Director and Chief
Executive Officer Prabhat Singh said.
* PNB HOUSING FINANCE: Global private-equity major Carlyle is seeking to sell a 10% stake in the company.
* PUNJAB NATIONAL BANK: Will honour all bona fide obligations, said Sunil Mehta, the bank's nonexecutive chairman, and added it has already settled dues of nearly 65 bln rupees.
* PUNJ LLOYD: Adani Defence and Aerospace said it is collaborating with the company and US-based Rave Gears to manufacture high precision aerospace gear.
* QUESS CORP: Has completed the acquisition of entire stake in Qdigi Services.
* RELIANCE INDUSTRIES: Has subsumed three wholly-owned subsidiaries, which owned at least half-adozen Reliance Jio apps, into the parent company effective Apr 1 with the aim of building a single in-house media team. Is set to acquire ALOK INDUSTRIES with majority of lenders to the bankrupt textile company voting in favour of the resolution plan given by the company.
* SHEMAROO ENTERTAINMENT: The company's board has approved investing $50,000 in a new whollyowned subsidiary to be set up at New Jersey in US.
* SPICEJET: Will operate direct flights from Hubli to Chennai and Hyderabad, starting May 14, under the government's regional connectivity scheme Ude Desh ka Aam Naagrik, or UDAN. The companys Bombardier Q-400 turboprop aircraft made an emergency landing due to smoke in cabin, the airline suffered another incident of smoke in cabin on Wednesday on the same model of plane.
* TATA MOTORS: Sales in global wholesale markets, including that of arm Jaguar Land Rover, rose 18% on year to 153,156 units in March.
* VEDANTA: Its iron ore production in Goa fell 58% to 1.5 mln tn in Jan-Mar due to lower demand for low grade ore and closure of mining operations in the state. Said its plans for capacity expansion at the Thootukudi copper smelting plant in southern India were on track, a day after its application to renew operations was rejected by the state pollution regulator.
* ZEE ENTERTAINMENT ENTERPRISES: The National Company Law Tribunal has approved the
composite scheme of arrangement and amalgamation between Zee Digital Convergence, India Webportal, Zee Unimedia, Sarthak Entertainment and the company
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* ACRYSIL: The board has approved allotment of 150,000 warrants to promoters at 550 rupees apiece company putting it in direct competition with the TPG-backed Manipal Health Enterprises, which on Tuesday improved its offer.
* GMR INFRASTRUCTURE: GMR Group will set up an aerospace and defence manufacturing hub at its special investment region in Krishnagiri district in Tamil Nadu.
* ICICI BANK: The Central Bureau of Investigation is investigating a 52.8-bln-rupee loan extended to GITANJALI GEMS group by a consortium of 31 lenders led by the bank. The Reserve Bank of India had carried out a detailed scrutiny of the complaint against the bank's dealings with Videocon two years ago but found no evidence of reciprocal benefit, stating the allegation "could not be conclusively established".
* IDBI BANK: Reserve Bank of India has imposed a 30-mln-rupee penalty on the bank for non-compliance with Income Recognition and Asset Classification norms.
* ITC: Is eyeing 10-12% market share in the packed juices and fruit beverages segment by next year as the company bets on its 'not from concentrate' range of juices.
* JAMMU & KASHMIR BANK: Has cut its one-year marginal cost of funds-based lending rates by 25 basis points to 8.70%, as per data on the lender's website.
* JAYPEE INFRATECH: Lakshadweep Ltd, a joint venture formed by two companies promoted by people with ties to billionaire Dilip Shanghvi, is set to acquire the company. The bids for the resolution process for the company is likely to be finalised by the end of April.
* JET AIRWAYS INDIA: Appointed former Civil Aviation Secretary Ashok Chawla as an independent director on its board.
* KWALITY: Letko Brosseau Emerging Markets Equity Fund has bought 4 mln shares or 1.7% stake in the company at 57.26 rupees per share in a bulk deal on the National Stock Exchange.
* LARSEN & TOUBRO: The company has signed a memorandum of understanding with Bharat Electronics to cater to the needs of evolving domestic and export markets for defence products.
* MAGMA FINCORP: Has terminated the investment agreement with Zend Mauritius VC Investments, one of the investors in the company and the promoters.
* MAHANAGAR GAS: The company's promoter BG Asia Pacific Holdings has reduced its stake in the company to 24% from 32.5%.
* MONNET ISPAT & ENERGY: Two top steel makers with ArcelorMittal questioning the selection of JSW STEEL-led consortium as the winning bid for the company.
* MPHASIS: Has collaborated with International Institute of Information Technology Bangalore to set up an Mphasis-IIIT-B centre of excellence for cognitive computing.
* ORIENTAL BANK OF COMMERCE: Has dragged steel maker Mittal Corp to the National Company Law Tribunal to begin bankruptcy proceedings.
* PETRON ENGINEERING CONSTRUCTION: The Mumbai bench of National Company Law Tribunal has commenced insolvency resolution process of the company against the petition filed by operational creditors.
* PETRONET LNG: Is looking to partner with ONGC Videsh to explore acquisition of a stake in an
upcoming gas production and liquefaction project in Qatar, the former's Managing Director and Chief
Executive Officer Prabhat Singh said.
* PNB HOUSING FINANCE: Global private-equity major Carlyle is seeking to sell a 10% stake in the company.
* PUNJAB NATIONAL BANK: Will honour all bona fide obligations, said Sunil Mehta, the bank's nonexecutive chairman, and added it has already settled dues of nearly 65 bln rupees.
* PUNJ LLOYD: Adani Defence and Aerospace said it is collaborating with the company and US-based Rave Gears to manufacture high precision aerospace gear.
* QUESS CORP: Has completed the acquisition of entire stake in Qdigi Services.
* RELIANCE INDUSTRIES: Has subsumed three wholly-owned subsidiaries, which owned at least half-adozen Reliance Jio apps, into the parent company effective Apr 1 with the aim of building a single in-house media team. Is set to acquire ALOK INDUSTRIES with majority of lenders to the bankrupt textile company voting in favour of the resolution plan given by the company.
* SHEMAROO ENTERTAINMENT: The company's board has approved investing $50,000 in a new whollyowned subsidiary to be set up at New Jersey in US.
* SPICEJET: Will operate direct flights from Hubli to Chennai and Hyderabad, starting May 14, under the government's regional connectivity scheme Ude Desh ka Aam Naagrik, or UDAN. The companys Bombardier Q-400 turboprop aircraft made an emergency landing due to smoke in cabin, the airline suffered another incident of smoke in cabin on Wednesday on the same model of plane.
* TATA MOTORS: Sales in global wholesale markets, including that of arm Jaguar Land Rover, rose 18% on year to 153,156 units in March.
* VEDANTA: Its iron ore production in Goa fell 58% to 1.5 mln tn in Jan-Mar due to lower demand for low grade ore and closure of mining operations in the state. Said its plans for capacity expansion at the Thootukudi copper smelting plant in southern India were on track, a day after its application to renew operations was rejected by the state pollution regulator.
* ZEE ENTERTAINMENT ENTERPRISES: The National Company Law Tribunal has approved the
composite scheme of arrangement and amalgamation between Zee Digital Convergence, India Webportal, Zee Unimedia, Sarthak Entertainment and the company
