Today Stock News – 17.10.2018
* ABAN OFFSHORE: The company's wholly-owned subsidiary has completed acquisition of 100% interest in a UK continental shelf production licence, comprising 100% stake in two blocks in the North Sea for $75 mln.
* ALLCARGO LOGISTICS: Suryanarayanan Sivaramakrishnan has been appointed as the chief financial officer of the company with immediate effect.
* APOLLO TYRES: Has promoted Benoit Rivallant as the president of its European Operations.
* COCHIN SHIPYARD: The board has approved a buyback of up to 4.39 mln shares at a price of 455 rupees apiece for an aggregate amount of up to 2 bln rupees.
* DEEPAK FERTILISERS AND PETROCHEMICALS CORP: Has allotted 6.47 mln convertible warrants at 298.79 rupees per warrant to promoter Robust Marketing Services.
* DEWAN HOUSING FINANCE CORP: Massachusetts state-owned Pension Reserves Investment Trust Fund has sold 3.05 mln shares or 0.97% stake in the company at 277.94 rupees apiece through a bulk deal on the National Stock Exchange.
* EROS INTERNATIONAL MEDIA: Marathi movie "Boyz 2" has collected 130 mln rupees in 10 days since its release.
* HERO MOTOCORP: Had scheduled the launch of two scooters in the 125-cc segment in Oct-Dec, said it would launch the first of the two scooters in November.
* HOUSING DEVELOPMENT FINANCE CORP: Has sold 19.75 mln shares or 0.75% stake in UNITECH at 2.28 rupees per share through a bulk deal on the National Stock Exchange.
* ICICI BANK: Has sold 24 mln shares or 16.27% stake in SHREE RAMA NEWSPRINT at 22.65 rupees a share through a bulk deal on the National Stock Exchange.
-Has moved a US court against 11 executives of Mumbai-based diamond company Shrenuj and Co for allegedly defrauding the bank, and has sought to recover over $12 mln from them, besides interest and legal fees.
* IIFL HOLDINGS: Subsidiary IIFL Wealth Management has entered into a share purchase agreement to acquire entire stake in Wealth Advisors India for 2.35 bln rupees, while an additional 185.87 mln rupees is to be adjusted on the closing date of the transaction.
* INFOSYS: Has retained guidance for operating margins at 22-24% for the current financial year ending March, and has also said sales will grow 6-8% in constant currency terms, same as guided earlier.
* ITC: Rashtriya Swayamsevak Sangh-affiliate Swadeshi Jagran Manch sought Prime Minister Narendra Modi's intervention to direct government-owned institutions to raise their shareholding in the company by market value, fearing the company could slip into foreign hands.
* JSW STEEL: More than two-thirds of lenders to bankrupt Bhushan Power and Steel have voted in favour of a revised offer by the company, turning the heat on in a contest for an asset that is being pursued by TATA STEEL and UK's Liberty House.
* KWALITY: Letko Brosseau Emerging Markets Equity Fund has sold 1.27 mln shares or 0.5% stake in the company at 10.35 rupees a share through a bulk deal on the National Stock Exchange.
* MANGALORE REFINERY AND PETROCHEMICALS: Expects India to soon receive a waiver from the US sanctions on Iran's oil and gas sector that is slated to take effect on Nov 4 as multiple discussions between India and the US are on at various levels, the company's Managing Director M. Venkatesh said.
* NBCC (INDIA): Has signed a memorandum of understanding with the government to construct Mahatma Gandhi international convention centre at Niamey, West Africa.
* NHPC: The company has put Baira Siul power station in Himachal Pradesh under complete shutdown for six months for renovation and modernisation.
* RELIANCE INDUSTRIES: Is likely to have raised 35 bln rupees through its bond maturing in 10 years at a coupon of 9.05%.
-Reliance Jio's proposed acquisition of a 25% stake each in digital cable companies DEN NETWORKS and HATHWAY CABLE & DATACOM will provide the telecom firm access to over 20 mln subscriber homes, giving it an edge over BHARTI AIRTEL and SITI Cable in the cable and fibre-to-the-home broadband markets.
* STATE BANK OF INDIA: The board of directors will meet on Monday to consider raising up to 50 bln rupees through Basel III-compliant tier-II bonds in 2018-19 (Apr-Mar).
* TATA MOTORS: Has created a separate division to explore ways to tap its entire range of passenger and commercial vehicles for offering shared mobility solutions.
* UNITED SPIRITS: Spirits major Diageo, which bought a controlling stake in the company, will sell 30,000 sq ft of prime office space in the iconic UB tower to DivyaSree Group in Bengaluru.
* UTTAM GALVA STEELS: ArcelorMittal has sent a letter to Essar Steel lenders, saying it is preparing to repay dues worth 45.54 bln rupees of the company and KSS Petron so that it could bid for Essar Steel under the Insolvency and Bankruptcy Code.
* VEDANTA: Vedanta Resources is planning to go big on the power sector while ruling out entry into the petroleum retailing business.
* VODAFONE IDEA: Has rolled out a number of festive season offers, including special data packages and coupons, in a bid to ring fence its subscriber base and add new users even as rival Reliance Jio continues aggressive customer additions.
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* ALLCARGO LOGISTICS: Suryanarayanan Sivaramakrishnan has been appointed as the chief financial officer of the company with immediate effect.
* APOLLO TYRES: Has promoted Benoit Rivallant as the president of its European Operations.
* COCHIN SHIPYARD: The board has approved a buyback of up to 4.39 mln shares at a price of 455 rupees apiece for an aggregate amount of up to 2 bln rupees.
* DEEPAK FERTILISERS AND PETROCHEMICALS CORP: Has allotted 6.47 mln convertible warrants at 298.79 rupees per warrant to promoter Robust Marketing Services.
* DEWAN HOUSING FINANCE CORP: Massachusetts state-owned Pension Reserves Investment Trust Fund has sold 3.05 mln shares or 0.97% stake in the company at 277.94 rupees apiece through a bulk deal on the National Stock Exchange.
* EROS INTERNATIONAL MEDIA: Marathi movie "Boyz 2" has collected 130 mln rupees in 10 days since its release.
* HERO MOTOCORP: Had scheduled the launch of two scooters in the 125-cc segment in Oct-Dec, said it would launch the first of the two scooters in November.
* HOUSING DEVELOPMENT FINANCE CORP: Has sold 19.75 mln shares or 0.75% stake in UNITECH at 2.28 rupees per share through a bulk deal on the National Stock Exchange.
* ICICI BANK: Has sold 24 mln shares or 16.27% stake in SHREE RAMA NEWSPRINT at 22.65 rupees a share through a bulk deal on the National Stock Exchange.
-Has moved a US court against 11 executives of Mumbai-based diamond company Shrenuj and Co for allegedly defrauding the bank, and has sought to recover over $12 mln from them, besides interest and legal fees.
* IIFL HOLDINGS: Subsidiary IIFL Wealth Management has entered into a share purchase agreement to acquire entire stake in Wealth Advisors India for 2.35 bln rupees, while an additional 185.87 mln rupees is to be adjusted on the closing date of the transaction.
* INFOSYS: Has retained guidance for operating margins at 22-24% for the current financial year ending March, and has also said sales will grow 6-8% in constant currency terms, same as guided earlier.
* ITC: Rashtriya Swayamsevak Sangh-affiliate Swadeshi Jagran Manch sought Prime Minister Narendra Modi's intervention to direct government-owned institutions to raise their shareholding in the company by market value, fearing the company could slip into foreign hands.
* JSW STEEL: More than two-thirds of lenders to bankrupt Bhushan Power and Steel have voted in favour of a revised offer by the company, turning the heat on in a contest for an asset that is being pursued by TATA STEEL and UK's Liberty House.
* KWALITY: Letko Brosseau Emerging Markets Equity Fund has sold 1.27 mln shares or 0.5% stake in the company at 10.35 rupees a share through a bulk deal on the National Stock Exchange.
* MANGALORE REFINERY AND PETROCHEMICALS: Expects India to soon receive a waiver from the US sanctions on Iran's oil and gas sector that is slated to take effect on Nov 4 as multiple discussions between India and the US are on at various levels, the company's Managing Director M. Venkatesh said.
* NBCC (INDIA): Has signed a memorandum of understanding with the government to construct Mahatma Gandhi international convention centre at Niamey, West Africa.
* NHPC: The company has put Baira Siul power station in Himachal Pradesh under complete shutdown for six months for renovation and modernisation.
* RELIANCE INDUSTRIES: Is likely to have raised 35 bln rupees through its bond maturing in 10 years at a coupon of 9.05%.
-Reliance Jio's proposed acquisition of a 25% stake each in digital cable companies DEN NETWORKS and HATHWAY CABLE & DATACOM will provide the telecom firm access to over 20 mln subscriber homes, giving it an edge over BHARTI AIRTEL and SITI Cable in the cable and fibre-to-the-home broadband markets.
* STATE BANK OF INDIA: The board of directors will meet on Monday to consider raising up to 50 bln rupees through Basel III-compliant tier-II bonds in 2018-19 (Apr-Mar).
* TATA MOTORS: Has created a separate division to explore ways to tap its entire range of passenger and commercial vehicles for offering shared mobility solutions.
* UNITED SPIRITS: Spirits major Diageo, which bought a controlling stake in the company, will sell 30,000 sq ft of prime office space in the iconic UB tower to DivyaSree Group in Bengaluru.
* UTTAM GALVA STEELS: ArcelorMittal has sent a letter to Essar Steel lenders, saying it is preparing to repay dues worth 45.54 bln rupees of the company and KSS Petron so that it could bid for Essar Steel under the Insolvency and Bankruptcy Code.
* VEDANTA: Vedanta Resources is planning to go big on the power sector while ruling out entry into the petroleum retailing business.
* VODAFONE IDEA: Has rolled out a number of festive season offers, including special data packages and coupons, in a bid to ring fence its subscriber base and add new users even as rival Reliance Jio continues aggressive customer additions.
