Today Stock News – 16.10.2018
* 8K MILES SOFTWARE SERVICES: Has filed criminal complaints with Chennai police and Securities and Exchange Board of India against Quantum Global Securities and Kumar Sharebrokers for "illegally" selling 8.42% of shares of its promoter and Chairman Suresh Venkatachari.
* AARVI ENCON: Has got orders worth 584.8 mln rupees from VEDANTA.
* ACC: Ten cement manufacturers including the company, AMBUJA CEMENTS, Lafarge, JAIPRAKASH, Ultratech, INDIA CEMENTS and RAMCO filed an appeal in the Supreme Court against a tribunal order, which had upheld a cartelisation order against them.
* ALLAHABAD BANK: The bank's share issue and allotment committee has approved raising 17.90 bln rupees through allotment of 389.2 mln shares on preferential basis to the government at 45.99 rupees per share.
* BHARAT PETROLEUM CORP: Has offered light diesel oil in a rare move following an extended shutdown of a secondary unit at its Mumbai refinery that could last until December.
* COAL INDIA: Claims to have increased supplies to the power sector by 9% between Apr 1 and Oct 12, but increased demand for coal has forced some 11,500 MW of generation capacity to remain idle for several days.
* EROS INTERNATIONAL MEDIA: Eros International Plc has announced that Eros Now, has extended its presence in the Malaysian market by partnering with a leading Malaysian telecom player, Celcom Axiata Berhad, for their subscribed data plan - Video Walla.
* GLOBUS SPIRITS: Resumed operation and commenced commercial production with a production capacity of 80,000 bulk ltr per day at its Dhudhua unit in Bihar on Tuesday.
* GTL INFRASTRUCTURE: Edelweiss Asset Reconstruction Co has teamed up with US-based alternative investment manager Oaktree Capital to buy 40 bln rupees which the company owed a consortium of lenders in a transaction completed before September-end.
* GUJARAT GAS: Board will meet on Nov 3 to mull stock-split.
* HCL INFOSYSTEMS: Board has approved Singapore-based subsidiary HCL Insys's decision to sell entire stake held by Nurture Technologies FZE in Gibraltar Technologies LLC (Dubai), Gibraltar Technologies LLC (Abu Dhabi), and step-down subsidiary Gibraltar Technologies WLL (Qatar) for a total of 3.44 mln dirham (69.23 mln rupees).
* IFCI: Is in the process of appointing an advisor for merger of the company's unlisted subsidiary IFCI Infrastructure Development with itself.
* INFIBEAM AVENUES: Has entered into an agreement with Sintex BAPL, a subsidiary of SINTEX PLASTICS TECHNOLOGY, to develop and manage a digital platform for the latter.
* JET AIRWAYS INDIA: Is offering upto 50 days leave without pay to its flight attendants.
* JSW STEEL: Voting on the company's revised offer of 193.50 bln rupees for Bhushan Power & Steel, currently going through the insolvency process, started on Monday. The results of the voting may be known today.
* KWALITY: Set to be dragged to the National Company Law Tribunal on loan default of over 12 bln rupees.
* NTPC: Has said that operations of Badarpur Thermal Power Station, New Delhi, having total installed capacity of 705 MW shall be discontinued from Monday. Has raised $2.4 bln and 500 mln euros through the issuance of foreign currency bonds, and issued masala bonds worth 40 bln rupees, in different tranches under its medium-term note programme. The company and NALCO managements have decided to cancel the proposed 2,400-MW Gajamara power project located in Dhenkanal district of Odisha.
* PETRONET LNG: Talks between the company and ONGC Videsh and the Qatar government on the Indian combine's plans to invest in liquefaction projects in that country are in limbo as the two sides are not in agreement on pricing of gas, the company's Managing Director and Chief Executive Officer Prabhat Singh said.
* PUNJAB NATIONAL BANK: Has identified various assets, including its housing finance arm, for sale and hopes to realise 86 bln rupees from these non-core assets during the current fiscal.
* RELIANCE INDUSTRIES: May soon buy controlling stakes in two of India's largest cable TV and
broadband service providers, HATHWAY CABLE & DATACOM and DEN NETWORKS, as it seeks to ramp up coverage of its ambitious high-speed broadband network.
* SHRIRAM TRANSPORT FINANCE CO: The public issue of non-convertible debentures of the company was subscribed 18% on the first day, having received bids of 2.41 bln rupees against the total issue size of up to 13.5 bln rupees.
* SOUTH INDIAN BANK: Board has approved raising up to 5 bln rupees through Basel III-compliant tier-II bonds in one or more tranches.
* TATA CONSULTANCY SERVICES: The company and INFOSYS are likely to face intense competition from global players when around $1.7 bln worth of contracts in the United Kingdom presently executed by these firms come for renewal over the next two years.
* TATA POWER CO: Tata Power Renewable Energy, the wholly-owned subsidiary of the company, plans to grow its solar rooftop business four-fold to around 1,000 MW from present 250 MW in next three to four years, even as the company plans awareness campaigns in 100 cities by end of FY19.
* ZOTA HEALTH CARE: Company's Surat unit has received good manufacturing practice certificate from Nigeria's National Agency for Food and Drug Administration and Control.
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* AARVI ENCON: Has got orders worth 584.8 mln rupees from VEDANTA.
* ACC: Ten cement manufacturers including the company, AMBUJA CEMENTS, Lafarge, JAIPRAKASH, Ultratech, INDIA CEMENTS and RAMCO filed an appeal in the Supreme Court against a tribunal order, which had upheld a cartelisation order against them.
* ALLAHABAD BANK: The bank's share issue and allotment committee has approved raising 17.90 bln rupees through allotment of 389.2 mln shares on preferential basis to the government at 45.99 rupees per share.
* BHARAT PETROLEUM CORP: Has offered light diesel oil in a rare move following an extended shutdown of a secondary unit at its Mumbai refinery that could last until December.
* COAL INDIA: Claims to have increased supplies to the power sector by 9% between Apr 1 and Oct 12, but increased demand for coal has forced some 11,500 MW of generation capacity to remain idle for several days.
* EROS INTERNATIONAL MEDIA: Eros International Plc has announced that Eros Now, has extended its presence in the Malaysian market by partnering with a leading Malaysian telecom player, Celcom Axiata Berhad, for their subscribed data plan - Video Walla.
* GLOBUS SPIRITS: Resumed operation and commenced commercial production with a production capacity of 80,000 bulk ltr per day at its Dhudhua unit in Bihar on Tuesday.
* GTL INFRASTRUCTURE: Edelweiss Asset Reconstruction Co has teamed up with US-based alternative investment manager Oaktree Capital to buy 40 bln rupees which the company owed a consortium of lenders in a transaction completed before September-end.
* GUJARAT GAS: Board will meet on Nov 3 to mull stock-split.
* HCL INFOSYSTEMS: Board has approved Singapore-based subsidiary HCL Insys's decision to sell entire stake held by Nurture Technologies FZE in Gibraltar Technologies LLC (Dubai), Gibraltar Technologies LLC (Abu Dhabi), and step-down subsidiary Gibraltar Technologies WLL (Qatar) for a total of 3.44 mln dirham (69.23 mln rupees).
* IFCI: Is in the process of appointing an advisor for merger of the company's unlisted subsidiary IFCI Infrastructure Development with itself.
* INFIBEAM AVENUES: Has entered into an agreement with Sintex BAPL, a subsidiary of SINTEX PLASTICS TECHNOLOGY, to develop and manage a digital platform for the latter.
* JET AIRWAYS INDIA: Is offering upto 50 days leave without pay to its flight attendants.
* JSW STEEL: Voting on the company's revised offer of 193.50 bln rupees for Bhushan Power & Steel, currently going through the insolvency process, started on Monday. The results of the voting may be known today.
* KWALITY: Set to be dragged to the National Company Law Tribunal on loan default of over 12 bln rupees.
* NTPC: Has said that operations of Badarpur Thermal Power Station, New Delhi, having total installed capacity of 705 MW shall be discontinued from Monday. Has raised $2.4 bln and 500 mln euros through the issuance of foreign currency bonds, and issued masala bonds worth 40 bln rupees, in different tranches under its medium-term note programme. The company and NALCO managements have decided to cancel the proposed 2,400-MW Gajamara power project located in Dhenkanal district of Odisha.
* PETRONET LNG: Talks between the company and ONGC Videsh and the Qatar government on the Indian combine's plans to invest in liquefaction projects in that country are in limbo as the two sides are not in agreement on pricing of gas, the company's Managing Director and Chief Executive Officer Prabhat Singh said.
* PUNJAB NATIONAL BANK: Has identified various assets, including its housing finance arm, for sale and hopes to realise 86 bln rupees from these non-core assets during the current fiscal.
* RELIANCE INDUSTRIES: May soon buy controlling stakes in two of India's largest cable TV and
broadband service providers, HATHWAY CABLE & DATACOM and DEN NETWORKS, as it seeks to ramp up coverage of its ambitious high-speed broadband network.
* SHRIRAM TRANSPORT FINANCE CO: The public issue of non-convertible debentures of the company was subscribed 18% on the first day, having received bids of 2.41 bln rupees against the total issue size of up to 13.5 bln rupees.
* SOUTH INDIAN BANK: Board has approved raising up to 5 bln rupees through Basel III-compliant tier-II bonds in one or more tranches.
* TATA CONSULTANCY SERVICES: The company and INFOSYS are likely to face intense competition from global players when around $1.7 bln worth of contracts in the United Kingdom presently executed by these firms come for renewal over the next two years.
* TATA POWER CO: Tata Power Renewable Energy, the wholly-owned subsidiary of the company, plans to grow its solar rooftop business four-fold to around 1,000 MW from present 250 MW in next three to four years, even as the company plans awareness campaigns in 100 cities by end of FY19.
* ZOTA HEALTH CARE: Company's Surat unit has received good manufacturing practice certificate from Nigeria's National Agency for Food and Drug Administration and Control.
