Today Stock News – 20.07.2018
* ADHUNIK METALIKS: Liberty House plans to invest 3 bln rupees to restart and modernise the company and Zion Steel.
* ALEMBIC PHARMACEUTICALS: Company's active pharmaceutical ingredients manufacturing facility at Karakhadi in Gujarat has received establishment inspection report from the US Food and Drug Administration.
* ASHOK LEYLAND: Shares of the company lost nearly 20% in the last two days after the automaker said the government's new norm allowing 20-25% higher payload for trucks will hit demand for at least 4-8 weeks.
* AVANTI FEEDS: Plans to diversify into the fish feed business soon, the company said in its 2017-18 (Apr-Mar) annual report.
* BHARTI AIRTEL: Is looking to slash its debt by half over the next 18 months by raising a total of 560 bln rupees from the sale of stake in its African unit and phase sale of its holding in the entity created by the merger of Indus Towers and BHARTI INFRATEL.
* FORTIS HEALTHCARE: Will hold an extraordinary general meeting on Aug 13 for shareholders to vote on the hospital chain's proposed deal with Malaysian healthcare group IHH.
* GATI: The Indore Bench of the Madhya Pradesh High Court has upheld the order of the GST Appellate Authority against the company's joint-venture Gati Kintetsu Express.
* HATSUN AGRO PRODUCT: Proposed to set up a dairy manufacturing plant in Maharashtra. The installation of the dairy plant is expected to be commissioned by December 2019.
* HINDALCO INDUSTRIES: The company constantly evaluates various options for creating long-term value of shareholders, the company said in response to acquisition of Aleris. Has cut the prices of aluminium billets, wire rods, and ingots by nearly 3% with effect from Thursday.
* INDIAN OIL CORP: Has submitted the highest number of technical bids in the ninth round of auction for city gas distribution licences, followed by BHARAT PETROLEUM CORP's arm Bharat Gas Resources, and Adani Gas, as per final bid data released by the Petroleum and Natural Gas Regulatory Board.
* INFOSYS: Has filed annual report for the year ended Mar 31 on the prescribed Form 20-F with the US Securities and Exchange Commission. Has opened digital studio in Berlin, Germany, to provide digital transformation solution. CEO Salil Parekh cannot join a rival company for six months if he decides to leave the company. Will only take the arbitration route to resolve disputes, claims and grievances between its chief executive and the company, should such a situation arise in the future, according to its 20-F report filed with the US Securities and Exchange Commission.
* IRB INFRASTRUCTURE DEVELOPERS: The board will meet on Wednesday to consider raising funds through equity or debt route.
* JAYPEE INFRATECH: The Supreme Court on Thursday reserved its order on providing interim relief to homebuyers of the company. The company is going through insolvency proceedings, while its parent company JAIPRAKASH ASSOCIATES is party in a plea moved by homebuyers in the apex court.
* JK PAPER: The Hyderabad bench of the National Company Law Tribunal has approved the
company's 7.8-bln-rupee debt resolution plan for SIRPUR PAPER MILLS, which includes 3.71 bln rupees for debt settlement.
* JSW STEEL: JSW Group owned South West Port has restarted two multi-purpose berths it runs at Mormugao Port Trust in Goa from Jul 6.
* LARSEN & TOUBRO: Mumbai Metropolitan Region Development Authority may have to pay higher per-trip cost for Mumbai Monorail to the service operator Larsen & Toubro-Scomi Engineering consortium.
* MADHAV COPPER: Will introduce new products such as copper bus bars, copper stripes, oxygen free copper rod, paper insulated copper conductor, and mica covered copper conductors, in addition to its existing products.
* MARUTI SUZUKI INDIA: Is optimistic on demand this year because of positive consumer sentiment and a normal monsoon. Has launched ECSTAR range of lubricants and car care products for its ARENA showrooms.
* MONNET ISPAT & ENERGY: The National Company Law Tribunal on Thursday approved the resolution plan submitted by the consortium of JSW STEEL-AION Capital for the company.
* NOVARTIS INDIA: Parent Novartis AG has agreed to buy the rights to a skin-disease drug from developers Galapagos NV and MorphoSys AG.
* NBCC INDIA: Will discuss with the housing minister the issue of taking over stalled housing projects in Delhi-National Capital Region in a few days, Chairman and Managing Director A.K. Mittal said.
* PUNJAB NATIONAL BANK: The Lok Sabha on Thursday passed the Fugitive Economic Offenders Bill, 2018, to replace an ordinance enacted earlier that empowered the government to confiscate properties of an economic offender who has fled India.
* TVS MOTOR CO: Brakes India, auto parts company of the TVS Group, plans to invest about 1 bln rupees in expanding the capacity at its Naidupeta factory in Andhra Pradesh.
* ULTRATECH CEMENT: Plans to set up five waste-heat-recovery plants with an investment of 5 bln rupees.
* UPL: Private equity group TPG is joining forces with Abu Dhabi Investment Authority to help the company close its$4.3-bln acquisition of Arysta LifeScience from Platform Specialty Products Corp.
* VEDANTA: Has slashed the prices of aluminium ingots by nearly 4%, effective Thursday. The income tax department, to which the National Securities Depository had transferred all 180 mln shares of Cairn Energy in the company, has moved to dispose the remaining 120 mln shares of the UK oil and gas major estimated to be worth about 27 bln rupees at current prices.
* VIDEOCON INDUSTRIES: The committee of creditors on Jul 10 appointed Anuj Jain as a resolution professional.
* WIPRO: Chairman Azim Premji said the company has started seeing benefits of investments in disruptive technologies and has seen successful outcomes with its clients.
* ZUARI AGRO CHEMICALS: Arm Mangalore Chemicals and Fertilizers has received environmental clearance to set up a phosphatic fertiliser plant at its existing facility in New angalore
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* ALEMBIC PHARMACEUTICALS: Company's active pharmaceutical ingredients manufacturing facility at Karakhadi in Gujarat has received establishment inspection report from the US Food and Drug Administration.
* ASHOK LEYLAND: Shares of the company lost nearly 20% in the last two days after the automaker said the government's new norm allowing 20-25% higher payload for trucks will hit demand for at least 4-8 weeks.
* AVANTI FEEDS: Plans to diversify into the fish feed business soon, the company said in its 2017-18 (Apr-Mar) annual report.
* BHARTI AIRTEL: Is looking to slash its debt by half over the next 18 months by raising a total of 560 bln rupees from the sale of stake in its African unit and phase sale of its holding in the entity created by the merger of Indus Towers and BHARTI INFRATEL.
* FORTIS HEALTHCARE: Will hold an extraordinary general meeting on Aug 13 for shareholders to vote on the hospital chain's proposed deal with Malaysian healthcare group IHH.
* GATI: The Indore Bench of the Madhya Pradesh High Court has upheld the order of the GST Appellate Authority against the company's joint-venture Gati Kintetsu Express.
* HATSUN AGRO PRODUCT: Proposed to set up a dairy manufacturing plant in Maharashtra. The installation of the dairy plant is expected to be commissioned by December 2019.
* HINDALCO INDUSTRIES: The company constantly evaluates various options for creating long-term value of shareholders, the company said in response to acquisition of Aleris. Has cut the prices of aluminium billets, wire rods, and ingots by nearly 3% with effect from Thursday.
* INDIAN OIL CORP: Has submitted the highest number of technical bids in the ninth round of auction for city gas distribution licences, followed by BHARAT PETROLEUM CORP's arm Bharat Gas Resources, and Adani Gas, as per final bid data released by the Petroleum and Natural Gas Regulatory Board.
* INFOSYS: Has filed annual report for the year ended Mar 31 on the prescribed Form 20-F with the US Securities and Exchange Commission. Has opened digital studio in Berlin, Germany, to provide digital transformation solution. CEO Salil Parekh cannot join a rival company for six months if he decides to leave the company. Will only take the arbitration route to resolve disputes, claims and grievances between its chief executive and the company, should such a situation arise in the future, according to its 20-F report filed with the US Securities and Exchange Commission.
* IRB INFRASTRUCTURE DEVELOPERS: The board will meet on Wednesday to consider raising funds through equity or debt route.
* JAYPEE INFRATECH: The Supreme Court on Thursday reserved its order on providing interim relief to homebuyers of the company. The company is going through insolvency proceedings, while its parent company JAIPRAKASH ASSOCIATES is party in a plea moved by homebuyers in the apex court.
* JK PAPER: The Hyderabad bench of the National Company Law Tribunal has approved the
company's 7.8-bln-rupee debt resolution plan for SIRPUR PAPER MILLS, which includes 3.71 bln rupees for debt settlement.
* JSW STEEL: JSW Group owned South West Port has restarted two multi-purpose berths it runs at Mormugao Port Trust in Goa from Jul 6.
* LARSEN & TOUBRO: Mumbai Metropolitan Region Development Authority may have to pay higher per-trip cost for Mumbai Monorail to the service operator Larsen & Toubro-Scomi Engineering consortium.
* MADHAV COPPER: Will introduce new products such as copper bus bars, copper stripes, oxygen free copper rod, paper insulated copper conductor, and mica covered copper conductors, in addition to its existing products.
* MARUTI SUZUKI INDIA: Is optimistic on demand this year because of positive consumer sentiment and a normal monsoon. Has launched ECSTAR range of lubricants and car care products for its ARENA showrooms.
* MONNET ISPAT & ENERGY: The National Company Law Tribunal on Thursday approved the resolution plan submitted by the consortium of JSW STEEL-AION Capital for the company.
* NOVARTIS INDIA: Parent Novartis AG has agreed to buy the rights to a skin-disease drug from developers Galapagos NV and MorphoSys AG.
* NBCC INDIA: Will discuss with the housing minister the issue of taking over stalled housing projects in Delhi-National Capital Region in a few days, Chairman and Managing Director A.K. Mittal said.
* PUNJAB NATIONAL BANK: The Lok Sabha on Thursday passed the Fugitive Economic Offenders Bill, 2018, to replace an ordinance enacted earlier that empowered the government to confiscate properties of an economic offender who has fled India.
* TVS MOTOR CO: Brakes India, auto parts company of the TVS Group, plans to invest about 1 bln rupees in expanding the capacity at its Naidupeta factory in Andhra Pradesh.
* ULTRATECH CEMENT: Plans to set up five waste-heat-recovery plants with an investment of 5 bln rupees.
* UPL: Private equity group TPG is joining forces with Abu Dhabi Investment Authority to help the company close its$4.3-bln acquisition of Arysta LifeScience from Platform Specialty Products Corp.
* VEDANTA: Has slashed the prices of aluminium ingots by nearly 4%, effective Thursday. The income tax department, to which the National Securities Depository had transferred all 180 mln shares of Cairn Energy in the company, has moved to dispose the remaining 120 mln shares of the UK oil and gas major estimated to be worth about 27 bln rupees at current prices.
* VIDEOCON INDUSTRIES: The committee of creditors on Jul 10 appointed Anuj Jain as a resolution professional.
* WIPRO: Chairman Azim Premji said the company has started seeing benefits of investments in disruptive technologies and has seen successful outcomes with its clients.
* ZUARI AGRO CHEMICALS: Arm Mangalore Chemicals and Fertilizers has received environmental clearance to set up a phosphatic fertiliser plant at its existing facility in New angalore
