Today Stock News – 25.07.2018
* BHARAT ELECTRONICS: The government invited initial bids to appoint merchant bankers for the proposed divestment in the company.
* DEWAN HOUSING FINANCE CORP: US Agency for International Development signed a pact to be the guarantor for loans worth $10 mln to be extended by the company to the healthcare sector.
* DR REDDY'S LABORATORIES: Astra-Zeneca has filed a lawsuit in the Delhi High Court against the company to block it from launching generic versions of Brilinta, its blockbuster medicine for heart ailments.
* GAIL INDIA: Will not be split but will have to hive off its transportation business into a subsidiary to reduce the conflict of interest that arises with the same entity housing both the functions of marketing and transport of natural gas.
* GITANJALI GEMS: Promoter Mehul Choksi has moved to the Caribbean island-nation of Antigua and Barbuda and secured a local passport.
* GMR INFRASTRUCTURE: Lenders are likely to initiate bankruptcy proceedings against GMR Chhattisgarh Energy, Ind-Barath Energy (Utkal), Lanco Anpara Power, and Jindal India Thermal Power.
* HDFC BANK: Has changed its share sale plan to include more of American Depository Receipts than a pure domestic offering on hopes that a buoyant US market would attract more investors without Indian registration and better pricing.
* HERO MOTOCORP: Plans to launch new 125cc scooters and Xtreme 200R motorcycle in Sep-Oct with an eye on double-digit growth in the festive season, Chairman and MD Pawan Mujal said.
* HOUSING DEVELOPMENT FINANCE CORP: Board will meet on Monday to consider raising up to $1.5 bln through external commercial borrowings and will also consider and approve issuance of non-convertible debentures worth 350 bln rupees on a private placement basis.
* ICICI BANK: Will buy 9.91% stake in Arthashastra Fintech for 82.72 mln rupees in cash. The Delhi Hi
* JB CHEMICALS & PHARMACEUTICALS: A fire at four of the company's bulk drug manufacturing facilities earlier this month is likely to cause a 50-mln-rupee setback to the company's sales in 2018-19 (AprMar).
* JBF INDUSTRIES: The company's promoter Bhagiratha C. Arya sold 4.19% stake or 3.43 mln shares of the company through the open market between Jul 16 and Jul 20.
* JSW STEEL: Hopes to turn around Monnet Ispat & Energy in a year's time and merge it with the parent company, a top company official said.
* MAHINDRA & MAHINDRA: Sees the high operating costs facing transporters as an opportunity to sell more of its high tonnage trucks as the latter boasts of better fuel and operational efficiency as well as lower cost of ownership.
* MARUTI SUZUKI INDIA: Providing digital solution 'Suzuki Connect' to all NEXA customers at 9,999 rupees for a three-year subscription.
* MUSIC BROADCAST: Board has approved buyback of up to 1.48 mln shares or 9.87% stake, at up to 385 rupees apiece, for an aggregate amount of 570 mln rupees.
* NTPC: The ministries of finance and power are discussing a plan to sell the government's stake in NHPC to the company.
* OIL INDIA: On Friday signed an agreement to form a joint venture for construction of a gas grid pipeline in Assam, Arunachal Pradesh, Meghalaya, Manipur, Mizoram, Nagaland, Tripura and Sikkim.
* PNB HOUSING FINANCE: Raised 950 mln rupees through non-convertible debentures maturing in two years and four days.
* POWER FINANCE CORP: Will seek shareholders' approval for raising 650 bln rupees through issue of debentures on a private placement basis.
* RELIANCE INDUSTRIES: Reliance Jio will invest 500 bln rupees on last-mile connectivity of 50 mln homes with fibre over the next two to three years.
* STATE BANK OF INDIA: Expects to recover half of the assets that turned sour in the initial 12 large bad loan accounts that were identified for bankruptcy resolution, chairman Rajnish Kumar said.
* SUPREME INFRASTRUCTURE INDIA: The board has approved the issuance of shares or warrants worth 1.3 bln rupees to promoters, on a preferential basis.
* TATA POWER CO: Plans to raise 55 bln rupees during through non-convertible debentures and bonds.
* TATA STEEL: The National Company Law Appellate Tribunal sought the company's reply on a plea filed by Bhushan Energy challenging the termination of power purchase agreements it had with BHUSHAN STEEL.
* TEAMLEASE SERVICES: Board has approved acquisition of 21% stake in Cassius Technologies for 37.8 mln rupees.
* UTTAM VALUE STEELS: The first meeting of the committee of creditors to discuss the resolution plan for the debt-ridden company is scheduled for Monday.
* VANTA BIOSCIENCE: Entered into an exclusive agreement with Hong Kong-based Hongkong ThinkWay Trading to expand its presence in the pre-clinical services sector in Greater China.
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* DEWAN HOUSING FINANCE CORP: US Agency for International Development signed a pact to be the guarantor for loans worth $10 mln to be extended by the company to the healthcare sector.
* DR REDDY'S LABORATORIES: Astra-Zeneca has filed a lawsuit in the Delhi High Court against the company to block it from launching generic versions of Brilinta, its blockbuster medicine for heart ailments.
* GAIL INDIA: Will not be split but will have to hive off its transportation business into a subsidiary to reduce the conflict of interest that arises with the same entity housing both the functions of marketing and transport of natural gas.
* GITANJALI GEMS: Promoter Mehul Choksi has moved to the Caribbean island-nation of Antigua and Barbuda and secured a local passport.
* GMR INFRASTRUCTURE: Lenders are likely to initiate bankruptcy proceedings against GMR Chhattisgarh Energy, Ind-Barath Energy (Utkal), Lanco Anpara Power, and Jindal India Thermal Power.
* HDFC BANK: Has changed its share sale plan to include more of American Depository Receipts than a pure domestic offering on hopes that a buoyant US market would attract more investors without Indian registration and better pricing.
* HERO MOTOCORP: Plans to launch new 125cc scooters and Xtreme 200R motorcycle in Sep-Oct with an eye on double-digit growth in the festive season, Chairman and MD Pawan Mujal said.
* HOUSING DEVELOPMENT FINANCE CORP: Board will meet on Monday to consider raising up to $1.5 bln through external commercial borrowings and will also consider and approve issuance of non-convertible debentures worth 350 bln rupees on a private placement basis.
* ICICI BANK: Will buy 9.91% stake in Arthashastra Fintech for 82.72 mln rupees in cash. The Delhi Hi
* JB CHEMICALS & PHARMACEUTICALS: A fire at four of the company's bulk drug manufacturing facilities earlier this month is likely to cause a 50-mln-rupee setback to the company's sales in 2018-19 (AprMar).
* JBF INDUSTRIES: The company's promoter Bhagiratha C. Arya sold 4.19% stake or 3.43 mln shares of the company through the open market between Jul 16 and Jul 20.
* JSW STEEL: Hopes to turn around Monnet Ispat & Energy in a year's time and merge it with the parent company, a top company official said.
* MAHINDRA & MAHINDRA: Sees the high operating costs facing transporters as an opportunity to sell more of its high tonnage trucks as the latter boasts of better fuel and operational efficiency as well as lower cost of ownership.
* MARUTI SUZUKI INDIA: Providing digital solution 'Suzuki Connect' to all NEXA customers at 9,999 rupees for a three-year subscription.
* MUSIC BROADCAST: Board has approved buyback of up to 1.48 mln shares or 9.87% stake, at up to 385 rupees apiece, for an aggregate amount of 570 mln rupees.
* NTPC: The ministries of finance and power are discussing a plan to sell the government's stake in NHPC to the company.
* OIL INDIA: On Friday signed an agreement to form a joint venture for construction of a gas grid pipeline in Assam, Arunachal Pradesh, Meghalaya, Manipur, Mizoram, Nagaland, Tripura and Sikkim.
* PNB HOUSING FINANCE: Raised 950 mln rupees through non-convertible debentures maturing in two years and four days.
* POWER FINANCE CORP: Will seek shareholders' approval for raising 650 bln rupees through issue of debentures on a private placement basis.
* RELIANCE INDUSTRIES: Reliance Jio will invest 500 bln rupees on last-mile connectivity of 50 mln homes with fibre over the next two to three years.
* STATE BANK OF INDIA: Expects to recover half of the assets that turned sour in the initial 12 large bad loan accounts that were identified for bankruptcy resolution, chairman Rajnish Kumar said.
* SUPREME INFRASTRUCTURE INDIA: The board has approved the issuance of shares or warrants worth 1.3 bln rupees to promoters, on a preferential basis.
* TATA POWER CO: Plans to raise 55 bln rupees during through non-convertible debentures and bonds.
* TATA STEEL: The National Company Law Appellate Tribunal sought the company's reply on a plea filed by Bhushan Energy challenging the termination of power purchase agreements it had with BHUSHAN STEEL.
* TEAMLEASE SERVICES: Board has approved acquisition of 21% stake in Cassius Technologies for 37.8 mln rupees.
* UTTAM VALUE STEELS: The first meeting of the committee of creditors to discuss the resolution plan for the debt-ridden company is scheduled for Monday.
* VANTA BIOSCIENCE: Entered into an exclusive agreement with Hong Kong-based Hongkong ThinkWay Trading to expand its presence in the pre-clinical services sector in Greater China.
