Today Stock News – 15.10.2018
* 8K MILES SOFTWARE SERVICES: Managing Director and promoter Suresh Venkatachari has said that 2.57 mln shares held by him in the company have been wrongfully and illegally transferred through off-market transactions.
* ADANI PORTS AND SPECIAL ECONOMIC: French energy giant Total SA is in talks to buy up to half of Adani Group's stake in LNG projects in Gujarat and Odisha, an under-construction LPG import facility and in its city gas projects.
* ADVANCED ENZYME TECHNOLOGIES: Promoter Vasant Rathi has acquired 2.6% stake or 2.92 mln shares in the company through open market.
* ALLCARGO LOGISTICS: Investing over 10 bln rupees to set up four logistics parks at key locations over the next two years seeing larger opportunities as the economy moves on at a faster clip.
* BANDHAN BANK: SEBI has exempted promoters of the bank from complying with the one-year lock-in period on their equity stake, as mandated under listing norms.
* BHARAT FORGE: The company, in partnership with PTC, opened an 'Industry 4.0 Centre of Excellence' in Pune on Friday.
* BHARTI AIRTEL: The company and Flipkart have announced up to 4,500 rupees worth of benefits on purchase of smartphones during the latter's Big Billion Days sale.
* CENTRAL BANK OF INDIA: The bank's capital raising committee has approved raising 23.54 bln rupees by issuing 354.36 mln shares to the government at 66.43 rupees a share on preferential basis.
* DEWAN HOUSING FINANCE CORP: BNP Paribas Arbitrage bought 1.56% stake or 4.9 mln shares of the company at 296.28 rupees per share through a bulk deal on the National Stock Exchange.
* DISH TV INDIA: Has signed Bollywood actor Ranveer Singh as its brand ambassador as it is planning to woo the younger audience with its latest brand campaign.
* DR REDDY'S LABORATORIES: The company's US arm is recalling over 35,000 tubes of Nystatin and Triamcinolone Acetonide cream on account of failed stability specifications, US Food and Drug Administration said.
* GAMMON INDIA: Has sold 50 acres of land in Mumbai's suburban Dombivali to real estate firm Runwal group for around 2.3 bln rupees, as part of an asset monetisation plan.
* HDFC BANK: Has appointed Vinay Razdan as the head of human resources.
* HINDUSTAN UNILEVER: Is in discussions with the National Anti-Profiteering Authority on the quantum of benefit accrued by the company after the goods and services tax on several consumer goods products was reduced in 2017.
* HINDUSTAN ZINC: The company's Jul-Sep mined metal production was up 6% on year at 232,000 tn.
* ICICI BANK: The bank's former managing director and chief executive officer Chanda Kochhar has sought more time to appear before the Securities and Exchange Board of India for a personal hearing.
* IDBI BANK: Will continue functioning independently without much intervention from Life Insurance Corp of India, which is set to become its largest shareholder.
* IL&FS ENGINEERING AND CONSTRUCTION CO: Non-executive independent director Sutapa Banerjee has resigned effective Oct 12.
* IL&FS TRANSPORTATION NETWORKS: Has not entered into definitive agreements with any of the investors for sale of projects undertaken by the company. Private equity firm KKR & Co is evaluating infrastructure sector buyouts in India. The fund is eyeing some of the road assets of the company.
* INDIAN OIL CORP: The boards of the company, OIL AND NATURAL GAS CORP, and OIL INDIA may soon consider buying back their shares worth 100 bln rupees under pressure from the government.
* INFO EDGE INDIA: The company's shareholding in Zomato Media has fallen to 27.68% from 30.91%.
* INFOSYS: Has completed the acquisition of Fluido, an independent salesforce consulting firm in Europe, for 65 mln euros (around 5.54 bln rupees).
* INOX LEISURE: The company and BookMyShow have resolved their dispute and the former is offering its cinema tickets for sale on the ticketing platform.
* JAIPRAKASH ASSOCIATES: The Supreme Court on Friday dismissed the company's plea seeking to restrain ICICI BANK from initiating insolvency proceedings against it.
* JET AIRWAYS INDIA: In a communication to its employees, the airline late on Sunday said that it was working on a solution to pay salaries due for the month of September but did not offer any definite date for making the payment.
* JSW ENERGY: As uncertainties loom over the solar power sector, mainly on the policy front, the companyhas put its ambitious expansions plans in the segment on the backburner.
* JSW STEEL: Lenders to Bhushan Power and Steel have decided to put to vote a revised financial offer from the company that trumped earlier bids by TATA STEEL and Liberty House, though it was submitted as late as August this year, months past the original bid deadline of Feb 8.
- JSWMI Steel Service Centre, a joint venture between the company and Japan's Marubeni-Itochu
Steel, plans to set up its third service centre near Chennai to tap the growing demand from auto
companies. The Odisha government will recommend to the Centre the transfer of forest clearance granted to the scrapped Posco steel project in the name of the company.
* KINETIC ENGINEERING: The company's luxury bike unit Motoroyale is looking to manufacture
superbikes locally to ride over the currency depreciation that has hit the niche segment hard.
* KIRI INDUSTRIES: The company and its two promoters have settled a case related to alleged disclosure lapses with SEBI after paying nearly 1.1 mln rupees towards the settlement.
* KOTAK MAHINDRA BANK: Expects refinancing of stressed assets and resolutions through the Insolvency and Bankruptcy Code to drive credit growth for 2018-19 (Apr-Mar), Dipak Gupta, joint managing director, said.
* LARSEN & TOUBRO: Even as the Chhatrapati Shivaji Maharaj Memorial project is yet to get the technical panel's nod for its revised design, the Public Works Department of the Maharashtra government has asked the company, contractor for the project, to start work from Friday.
* LUPIN: Has received a tentative approval from the US Food and Drug Administration to market lurasidone hydrochloride tablets, a generic of Latuda tablet, in 20-mg, 40-mg, 60-mg, 80-mg, and 120-mg strengths. Is looking to establish presence in China as part of its strategy to strengthen its markets in the Asia Pacific region.
* MAHANAGAR TELEPHONE NIGAM: The company on Friday said its shareholders have approved proposals to raise authorised share capital by over 12 times to 100 bln rupees and borrowing limit by around 38% to 250 bln rupees.
* MAHINDRA & MAHINDRA: Will launch luxury sports utility vehicle, codenamed Y400, on Nov 19. The company expects 15% on-year growth in Bolero pick-up vehicle sales in 2018-19 (Apr-Mar), driven by farm business and services sectors, said Mahesh Kulkarni, vice-president - commercial brand marketing.
* MERCATOR: Has said that OIL & NATURAL GAS CORP has wrongfully terminated the Sagar Samrat project awarded to the company-led consortium in 2011.
* MONSANTO INDIA: The Delhi High Court on Friday dismissed writ petitions filed by the company and its group companies seeking to restrain the Competition Commission of India from investigating its officers, including directors, for violation of anti-trust laws.
* NATIONAL ALUMINIUM CO: The board has approved buyback of up to 67.31 mln shares at 75 rupees each, for an aggregate amount of up to 5.05 bln rupees.
* NESTLE INDIA: Has been found to have deprived its customers of goods and services tax cuts of 980 mln rupees by not revising the prices of chocolates, baby food items and Maggi noodles among other products in line with the new rates.
* NITESH ESTATES: Has signed an agreement to sell its step-down subsidiary Nitesh Pune Mall to ABIL group.
* OIL & NATURAL GAS CORP: Prime Minister Narendra Modi on Friday reviewed the oil and gas
production profile of the company and OIL INDIA over the near to medium term to assess how his target to cut oil imports by 10% would be met.
* OM METALS INFRAPROJECTS: Bhilwara Jaipur Toll Road, a special vehicle floated by the company, formed for execution of road projects, has served a termination notice on the concession agreement signed with the Rajasthan government due to material breach of terms and conditions.
* POWER FINANCE CORP: Power producers have called upon Ministry of Power to rope in the company and RURAL ELECTRIFICATION CORP to provide funds for smooth implementation of emission control systems in thermal power plants.
* PVR: The company opened a 10-screen multiplex named 'PVR ICON' in Chennai on Friday.
* SHRIRAM TRANSPORT FINANCE CO: Plans to raise up to 13.50 bln rupees through public issue of nonconvertible debentures maturing in three, five, and 10 years.
* SPICEJET: The airline will offer Wi-Fi services on board from November since its new Boeing 737 MAX is equipped with systems to make it possible.
* STATE BANK OF INDIA: Sees its provision for bad loans remaining high for at least the next two quarters, after which it will start softening as it steps up efforts to improve asset quality, its chairman said on Friday.
* STEEL AUTHORITY OF INDIA: The government has decided to take back Sitanala coking coal block in Jharkhand from the company on account of delays in the development of the mine.
* STERLING BIOTECH: Investigative agencies are examining whether top government officials in the United Progressive Alliance-II regime and banks facilitated the company, owned by the Sandesara family, commit a fraud.
* TATA CONSULTANCY SERVICES: Will offer 40% more jobs to fresh engineering graduates during the ongoing campus placements this year, compared to last year. Will start outlining the business from some of the individual components it now calls digital.
* TATA MOTORS: Has sent corporate communications head Suresh Rangarajan on indefinite leave following allegations of sexual harassment at the workplace. Brexit.
* TATA STEEL: Plans to "eventually" scale up the nameplate capacity at its newly acquired Tata Steel BSL, formerly Bhushan Steel, to 8.3 mtpa from 5.6 mtpa.
* UNITED BREWERIES: Has forayed into non-alcoholic beverages segment, with the launch of 'Kingfisher Radler'. Competition Commission of India officials visited the company's office seeking certain business related information and the company cooperated with the officials.
* V-MART RETAIL: Has opened a new fashion store in West Bengal.
* YES BANK: The board has recommended clawing back of bonuses paid to Managing Director and Chief Executive Officer Rana Kapoor for two years ended Mar 31, 2016 following adverse observations made by the banking regulator.
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* ADANI PORTS AND SPECIAL ECONOMIC: French energy giant Total SA is in talks to buy up to half of Adani Group's stake in LNG projects in Gujarat and Odisha, an under-construction LPG import facility and in its city gas projects.
* ADVANCED ENZYME TECHNOLOGIES: Promoter Vasant Rathi has acquired 2.6% stake or 2.92 mln shares in the company through open market.
* ALLCARGO LOGISTICS: Investing over 10 bln rupees to set up four logistics parks at key locations over the next two years seeing larger opportunities as the economy moves on at a faster clip.
* BANDHAN BANK: SEBI has exempted promoters of the bank from complying with the one-year lock-in period on their equity stake, as mandated under listing norms.
* BHARAT FORGE: The company, in partnership with PTC, opened an 'Industry 4.0 Centre of Excellence' in Pune on Friday.
* BHARTI AIRTEL: The company and Flipkart have announced up to 4,500 rupees worth of benefits on purchase of smartphones during the latter's Big Billion Days sale.
* CENTRAL BANK OF INDIA: The bank's capital raising committee has approved raising 23.54 bln rupees by issuing 354.36 mln shares to the government at 66.43 rupees a share on preferential basis.
* DEWAN HOUSING FINANCE CORP: BNP Paribas Arbitrage bought 1.56% stake or 4.9 mln shares of the company at 296.28 rupees per share through a bulk deal on the National Stock Exchange.
* DISH TV INDIA: Has signed Bollywood actor Ranveer Singh as its brand ambassador as it is planning to woo the younger audience with its latest brand campaign.
* DR REDDY'S LABORATORIES: The company's US arm is recalling over 35,000 tubes of Nystatin and Triamcinolone Acetonide cream on account of failed stability specifications, US Food and Drug Administration said.
* GAMMON INDIA: Has sold 50 acres of land in Mumbai's suburban Dombivali to real estate firm Runwal group for around 2.3 bln rupees, as part of an asset monetisation plan.
* HDFC BANK: Has appointed Vinay Razdan as the head of human resources.
* HINDUSTAN UNILEVER: Is in discussions with the National Anti-Profiteering Authority on the quantum of benefit accrued by the company after the goods and services tax on several consumer goods products was reduced in 2017.
* HINDUSTAN ZINC: The company's Jul-Sep mined metal production was up 6% on year at 232,000 tn.
* ICICI BANK: The bank's former managing director and chief executive officer Chanda Kochhar has sought more time to appear before the Securities and Exchange Board of India for a personal hearing.
* IDBI BANK: Will continue functioning independently without much intervention from Life Insurance Corp of India, which is set to become its largest shareholder.
* IL&FS ENGINEERING AND CONSTRUCTION CO: Non-executive independent director Sutapa Banerjee has resigned effective Oct 12.
* IL&FS TRANSPORTATION NETWORKS: Has not entered into definitive agreements with any of the investors for sale of projects undertaken by the company. Private equity firm KKR & Co is evaluating infrastructure sector buyouts in India. The fund is eyeing some of the road assets of the company.
* INDIAN OIL CORP: The boards of the company, OIL AND NATURAL GAS CORP, and OIL INDIA may soon consider buying back their shares worth 100 bln rupees under pressure from the government.
* INFO EDGE INDIA: The company's shareholding in Zomato Media has fallen to 27.68% from 30.91%.
* INFOSYS: Has completed the acquisition of Fluido, an independent salesforce consulting firm in Europe, for 65 mln euros (around 5.54 bln rupees).
* INOX LEISURE: The company and BookMyShow have resolved their dispute and the former is offering its cinema tickets for sale on the ticketing platform.
* JAIPRAKASH ASSOCIATES: The Supreme Court on Friday dismissed the company's plea seeking to restrain ICICI BANK from initiating insolvency proceedings against it.
* JET AIRWAYS INDIA: In a communication to its employees, the airline late on Sunday said that it was working on a solution to pay salaries due for the month of September but did not offer any definite date for making the payment.
* JSW ENERGY: As uncertainties loom over the solar power sector, mainly on the policy front, the companyhas put its ambitious expansions plans in the segment on the backburner.
* JSW STEEL: Lenders to Bhushan Power and Steel have decided to put to vote a revised financial offer from the company that trumped earlier bids by TATA STEEL and Liberty House, though it was submitted as late as August this year, months past the original bid deadline of Feb 8.
- JSWMI Steel Service Centre, a joint venture between the company and Japan's Marubeni-Itochu
Steel, plans to set up its third service centre near Chennai to tap the growing demand from auto
companies. The Odisha government will recommend to the Centre the transfer of forest clearance granted to the scrapped Posco steel project in the name of the company.
* KINETIC ENGINEERING: The company's luxury bike unit Motoroyale is looking to manufacture
superbikes locally to ride over the currency depreciation that has hit the niche segment hard.
* KIRI INDUSTRIES: The company and its two promoters have settled a case related to alleged disclosure lapses with SEBI after paying nearly 1.1 mln rupees towards the settlement.
* KOTAK MAHINDRA BANK: Expects refinancing of stressed assets and resolutions through the Insolvency and Bankruptcy Code to drive credit growth for 2018-19 (Apr-Mar), Dipak Gupta, joint managing director, said.
* LARSEN & TOUBRO: Even as the Chhatrapati Shivaji Maharaj Memorial project is yet to get the technical panel's nod for its revised design, the Public Works Department of the Maharashtra government has asked the company, contractor for the project, to start work from Friday.
* LUPIN: Has received a tentative approval from the US Food and Drug Administration to market lurasidone hydrochloride tablets, a generic of Latuda tablet, in 20-mg, 40-mg, 60-mg, 80-mg, and 120-mg strengths. Is looking to establish presence in China as part of its strategy to strengthen its markets in the Asia Pacific region.
* MAHANAGAR TELEPHONE NIGAM: The company on Friday said its shareholders have approved proposals to raise authorised share capital by over 12 times to 100 bln rupees and borrowing limit by around 38% to 250 bln rupees.
* MAHINDRA & MAHINDRA: Will launch luxury sports utility vehicle, codenamed Y400, on Nov 19. The company expects 15% on-year growth in Bolero pick-up vehicle sales in 2018-19 (Apr-Mar), driven by farm business and services sectors, said Mahesh Kulkarni, vice-president - commercial brand marketing.
* MERCATOR: Has said that OIL & NATURAL GAS CORP has wrongfully terminated the Sagar Samrat project awarded to the company-led consortium in 2011.
* MONSANTO INDIA: The Delhi High Court on Friday dismissed writ petitions filed by the company and its group companies seeking to restrain the Competition Commission of India from investigating its officers, including directors, for violation of anti-trust laws.
* NATIONAL ALUMINIUM CO: The board has approved buyback of up to 67.31 mln shares at 75 rupees each, for an aggregate amount of up to 5.05 bln rupees.
* NESTLE INDIA: Has been found to have deprived its customers of goods and services tax cuts of 980 mln rupees by not revising the prices of chocolates, baby food items and Maggi noodles among other products in line with the new rates.
* NITESH ESTATES: Has signed an agreement to sell its step-down subsidiary Nitesh Pune Mall to ABIL group.
* OIL & NATURAL GAS CORP: Prime Minister Narendra Modi on Friday reviewed the oil and gas
production profile of the company and OIL INDIA over the near to medium term to assess how his target to cut oil imports by 10% would be met.
* OM METALS INFRAPROJECTS: Bhilwara Jaipur Toll Road, a special vehicle floated by the company, formed for execution of road projects, has served a termination notice on the concession agreement signed with the Rajasthan government due to material breach of terms and conditions.
* POWER FINANCE CORP: Power producers have called upon Ministry of Power to rope in the company and RURAL ELECTRIFICATION CORP to provide funds for smooth implementation of emission control systems in thermal power plants.
* PVR: The company opened a 10-screen multiplex named 'PVR ICON' in Chennai on Friday.
* SHRIRAM TRANSPORT FINANCE CO: Plans to raise up to 13.50 bln rupees through public issue of nonconvertible debentures maturing in three, five, and 10 years.
* SPICEJET: The airline will offer Wi-Fi services on board from November since its new Boeing 737 MAX is equipped with systems to make it possible.
* STATE BANK OF INDIA: Sees its provision for bad loans remaining high for at least the next two quarters, after which it will start softening as it steps up efforts to improve asset quality, its chairman said on Friday.
* STEEL AUTHORITY OF INDIA: The government has decided to take back Sitanala coking coal block in Jharkhand from the company on account of delays in the development of the mine.
* STERLING BIOTECH: Investigative agencies are examining whether top government officials in the United Progressive Alliance-II regime and banks facilitated the company, owned by the Sandesara family, commit a fraud.
* TATA CONSULTANCY SERVICES: Will offer 40% more jobs to fresh engineering graduates during the ongoing campus placements this year, compared to last year. Will start outlining the business from some of the individual components it now calls digital.
* TATA MOTORS: Has sent corporate communications head Suresh Rangarajan on indefinite leave following allegations of sexual harassment at the workplace. Brexit.
* TATA STEEL: Plans to "eventually" scale up the nameplate capacity at its newly acquired Tata Steel BSL, formerly Bhushan Steel, to 8.3 mtpa from 5.6 mtpa.
* UNITED BREWERIES: Has forayed into non-alcoholic beverages segment, with the launch of 'Kingfisher Radler'. Competition Commission of India officials visited the company's office seeking certain business related information and the company cooperated with the officials.
* V-MART RETAIL: Has opened a new fashion store in West Bengal.
* YES BANK: The board has recommended clawing back of bonuses paid to Managing Director and Chief Executive Officer Rana Kapoor for two years ended Mar 31, 2016 following adverse observations made by the banking regulator.
