Daily Stock News Today – 15.12.2017
* ANDHRA BANK: Will reduce its marginal cost of funds-based lending rates by 5-10 basis points on most tenures, effective today.
* ARTEFACT PROJECTS: The Delhi High Court has upheld a 15.86-mln-rupee arbitration award in favour of the company.
* ASTRAZENECA PHARMA INDIA: Expects to launch a drug named XIGDUO XR in India in Jan-Mar.
* BHARTI AIRTEL: The flow of cooking gas subsidy into Airtel Bank accounts, allegedly opened without customers' consent, has accelerated with cumulative subsidy deposited in these accounts rising to 1.68 bln rupees as of end of November from 470 mln rupees three months ago.
* COAL INDIA: Indian companies including aluminium smelters and chemical factories are considering importing more coal to ease fuel shortages as most of the country's output is diverted to electricity generators.
* ESSAR SHIPPING: Plans to increase volumes via third-party cargo, even as it services debt in a not-so-friendly freight market.
* GMR INFRASTRUCTURE: The company in partnership with The Philippines' Megawide Construction Corp has emerged as the front-runner for a project to upgrade an airport north of Manila.
* GODREJ INDUSTRIES: The board of the company has approved the merger of its holding company Vora Soaps with itself in an all-stock deal.
* GUJARAT NRE COKE: With the ordinance amending the Insolvency and Bankruptcy Code banning promoters from bidding for their stressed assets, the resolution professional appointed for the company's corporate insolvency resolution has invited fresh expressions of interest from investors for the purpose of submission of resolution plans.
* GULF OIL LUBRICANTS INDIA: Commenced commercial production of lubricant oil at its newly set-up plant in Chennai on Thursday.
* HOUSING DEVELOPMENT FINANCE CORP: The board of directors will, on Tuesday, consider raising funds through the issue of shares or other securities, including preferential issue or qualified institutional placement.
* HOUSING DEVELOPMENT & INFRASTRUCTURE: The Orbis Global Equity Fund and other group entities sold 1.32 mln shares or 0.3% stake in the company through the open market on Dec 8.
* INDIAN BANK: The board of directors will, on Tuesday, consider raising up to 70 bln rupees of equity capital through a follow-on public offer, private placement, qualified institutional placement, rights issue, preferential issue, or institutional placement programme.
* INSILCO: Has received a letter from Central Pollution Control Board for its plant in Gajraula, Uttar Pradesh, based on inspection of a special high-power committee asking for clarification about high effluent discharge from the unit.
* ITC: Is planning to launch a range of ready-to-drink milk-based beverages and frozen desserts from its new plant in Punjab to boost its dairy business. Rolled out its largest integrated food manufacturing and logistics facility in Kapurthala in Punjab with the first-ever 'wheat mandi' unit to procure the grain from farmers, besides other fast moving consumer goods units.
* JAIPRAKASH ASSOCIATE: Has deposited 1.5 bln rupees in the Supreme Court registry in pursuance of a direction aimed at protecting the interests of hassled home buyers.
* JAYPEE INFRATECH: The insolvency resolution professional in the company case assured home buyers that all relevant suggestions to safeguard their interests will be considered in the final revival plan for the debt-laden realtor.
* MAHINDRA & MAHINDRA: Will increases prices of its passenger and commercial vehicles by up to 3% from Jan 1.
* MCDOWELL HOLDINGS: The Reserve Bank of India has cancelled the company's certificate of registration for a nonbanking financial services company classified as non-deposit taking, the latter informed exchanges.
* MRF: India's latest cricketing sensation and current captain of India's U-19 team for ICC U-19 World Cup Prithvi Shaw has signed a multiyear bat sponsorship deal with the company.
* NAVKAR CORP: On Jan 5, the company's board will seek shareholders' approval to merge subsidiary Navkar Terminals with itself.
* PUNJAB NATIONAL BANK: Has closed its qualified institutional placement issue and fixed the issue price at 168 rupees a share.
* QUESS CORP: Completed acquisition of 45% stake in Simpliance Technologies.
* RELIGARE ENTERPRISES: IDBI Trusteeship Services sold 11.3 mln shares or 6.3% stake in the company at 58.51 rupees apiece.
* TATA MOTORS: Delivered the first set of Tigor electric sedans to state-owned Energy Efficiency Services.
* UNION BANK OF INDIA: Has raised 20 bln rupees via a qualified institutional placement.
* UNITECH: HOUSING DEVELOPMENT FINANCE CORP has invoked pledge on 3.13% stake or 81.99 mln shares of the company on Tuesday.
* VEDANTA: Will meet on Tuesday to consider the issuance of non-convertible debentures worth 5 bln rupees. Cairn India, the oil and gas business of VEDANTA, has rejigged its management to empower the core leadership team to take crucial decisions and drive its $1-bln investment plan.
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* ARTEFACT PROJECTS: The Delhi High Court has upheld a 15.86-mln-rupee arbitration award in favour of the company.
* ASTRAZENECA PHARMA INDIA: Expects to launch a drug named XIGDUO XR in India in Jan-Mar.
* BHARTI AIRTEL: The flow of cooking gas subsidy into Airtel Bank accounts, allegedly opened without customers' consent, has accelerated with cumulative subsidy deposited in these accounts rising to 1.68 bln rupees as of end of November from 470 mln rupees three months ago.
* COAL INDIA: Indian companies including aluminium smelters and chemical factories are considering importing more coal to ease fuel shortages as most of the country's output is diverted to electricity generators.
* ESSAR SHIPPING: Plans to increase volumes via third-party cargo, even as it services debt in a not-so-friendly freight market.
* GMR INFRASTRUCTURE: The company in partnership with The Philippines' Megawide Construction Corp has emerged as the front-runner for a project to upgrade an airport north of Manila.
* GODREJ INDUSTRIES: The board of the company has approved the merger of its holding company Vora Soaps with itself in an all-stock deal.
* GUJARAT NRE COKE: With the ordinance amending the Insolvency and Bankruptcy Code banning promoters from bidding for their stressed assets, the resolution professional appointed for the company's corporate insolvency resolution has invited fresh expressions of interest from investors for the purpose of submission of resolution plans.
* GULF OIL LUBRICANTS INDIA: Commenced commercial production of lubricant oil at its newly set-up plant in Chennai on Thursday.
* HOUSING DEVELOPMENT FINANCE CORP: The board of directors will, on Tuesday, consider raising funds through the issue of shares or other securities, including preferential issue or qualified institutional placement.
* HOUSING DEVELOPMENT & INFRASTRUCTURE: The Orbis Global Equity Fund and other group entities sold 1.32 mln shares or 0.3% stake in the company through the open market on Dec 8.
* INDIAN BANK: The board of directors will, on Tuesday, consider raising up to 70 bln rupees of equity capital through a follow-on public offer, private placement, qualified institutional placement, rights issue, preferential issue, or institutional placement programme.
* INSILCO: Has received a letter from Central Pollution Control Board for its plant in Gajraula, Uttar Pradesh, based on inspection of a special high-power committee asking for clarification about high effluent discharge from the unit.
* ITC: Is planning to launch a range of ready-to-drink milk-based beverages and frozen desserts from its new plant in Punjab to boost its dairy business. Rolled out its largest integrated food manufacturing and logistics facility in Kapurthala in Punjab with the first-ever 'wheat mandi' unit to procure the grain from farmers, besides other fast moving consumer goods units.
* JAIPRAKASH ASSOCIATE: Has deposited 1.5 bln rupees in the Supreme Court registry in pursuance of a direction aimed at protecting the interests of hassled home buyers.
* JAYPEE INFRATECH: The insolvency resolution professional in the company case assured home buyers that all relevant suggestions to safeguard their interests will be considered in the final revival plan for the debt-laden realtor.
* MAHINDRA & MAHINDRA: Will increases prices of its passenger and commercial vehicles by up to 3% from Jan 1.
* MCDOWELL HOLDINGS: The Reserve Bank of India has cancelled the company's certificate of registration for a nonbanking financial services company classified as non-deposit taking, the latter informed exchanges.
* MRF: India's latest cricketing sensation and current captain of India's U-19 team for ICC U-19 World Cup Prithvi Shaw has signed a multiyear bat sponsorship deal with the company.
* NAVKAR CORP: On Jan 5, the company's board will seek shareholders' approval to merge subsidiary Navkar Terminals with itself.
* PUNJAB NATIONAL BANK: Has closed its qualified institutional placement issue and fixed the issue price at 168 rupees a share.
* QUESS CORP: Completed acquisition of 45% stake in Simpliance Technologies.
* RELIGARE ENTERPRISES: IDBI Trusteeship Services sold 11.3 mln shares or 6.3% stake in the company at 58.51 rupees apiece.
* TATA MOTORS: Delivered the first set of Tigor electric sedans to state-owned Energy Efficiency Services.
* UNION BANK OF INDIA: Has raised 20 bln rupees via a qualified institutional placement.
* UNITECH: HOUSING DEVELOPMENT FINANCE CORP has invoked pledge on 3.13% stake or 81.99 mln shares of the company on Tuesday.
* VEDANTA: Will meet on Tuesday to consider the issuance of non-convertible debentures worth 5 bln rupees. Cairn India, the oil and gas business of VEDANTA, has rejigged its management to empower the core leadership team to take crucial decisions and drive its $1-bln investment plan.
