Daily Stock News Today – 12.01.2018

Daily Stock News Today – 12.01.2018

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* ADANI ENTERPRISES: Gautam Adani is the latest to jump into affordable mortgage lending business, with the company looking to set up a housing finance company that will offer home loans through realty developers and will also lend directly to retail customers.

* AMTEK AUTO: UK-based metals group Liberty House and Deccan Value Investors, a US-registered hedge fund, have emerged as top contenders for the company which is in bankruptcy court awaiting resolution.

* APM INDUSTRIES: Board has approved the demerger of financial operations of the company and the subsequent transfer of the operations to subsidiary APM Finvest.

* BHARTI AIRTEL: Unique Identification Authority of India has allowed the company to continue Aadhaar-based electronic know-your-customer services till March.

* BINANI CEMENT: The two lenders of the company, IDBI BANK and STATE BANK OF INDIA, have approached the National Company Law Tribunal against the Binani Group after the insolvency resolution professional rejected their claims on corporate guarantees worth 20 bln rupees issued by the company to some subsidiaries in the Binani group.

* DISH TV INDIA: Said it is evaluating whether there is any impact of certain Videocon Group company's insolvency proceedings on the merger of Videocon D2h with itself.

* DEWAN HOUSING FINANCE CORP: The board of the company will meet on Jan 22 to consider raising up to 65 bln rupees by issuing non-convertible debentures.

* DREDGING CORP OF INDIA: The company won an order of 885.1 mln rupees to carry out the maintenance dredging work for 2017-18 (Apr-Mar) at Cochin port after placing the lowest bid.

* EMAMI INFRASTRUCTURE: Has approved raising up to 5 bln rupees through issuance of non-convertible debentures.

* GAIL INDIA: Plans to extend the ambitious Urja Ganga natural gas pipeline project to Guwahati to connect the northeastern region with grid, Oil Minister said.

* GEI INDUSTRIAL SYSTEMS: The National Company Law Tribunal's Ahmedabad bench has granted the creditors of the company an extension of three months for the corporate insolvency resolution process.

* GUJARAT NRE COKE: The National Company Law Tribunal's Kolkata chapter has ordered liquidation of the company that failed to resolve the 49-bln-rupee default case.

* HOUSING DEVELOPMENT FINANCE CORP: A clutch of non-banking finance companies including Mahindra Finance, INDIABULLS HOUSING FINANCE, SHRIRAM TRANSPORT FINANCE CO, DEWAN HOUSING FINANCE CORP and the company have received the Reserve Bank of India's approval to sell masala bonds to foreign investors abroad.

* ICICI PRUDENTIAL LIFE INSURANCE CO: The Securities Appellate Tribunal quashed an order passed by the Insurance Regulatory and Development Authority of India directing the company to take over operations of Sahara India Life Insurance Co.

* INDIAN OIL CORP: Bought its third shipload or cargo of US crude oil as it looks at cheaper alternatives that have emerged due to the global glut.

* IDFC Bank: Has dismissed media reports suggesting that it is in talks with non-banking financial company, CAPITAL FIRST, for a proposed merger.

* INDIABULLS REAL ESTATE: The company's arm, Yashita Buildcom, has entered into a binding agreement to acquire a commercial building with 250,000 sq ft leasable area in Gurugram.

* JET AIRWAYS INDIA: Has announced up to 30% discount on travel from India to all international destinations served by its international network.

* JUBILANT FOODWORKS: Company's supply chain centre in Greater Noida, Uttar Pradesh, has commenced commercial production from Thursday.

* KDDL: Ethos, a subsidiary of the company, closed the operations of its store located at Delhi domestic airport from Thursday.

* MOTILAL OSWAL FINANCIAL SERVICES: The Securities and Exchange Board of India has imposed a fine of 200,000 rupees on subsidiary Motilal Oswal Securities for dealing in shares for a client without proper approval.

* RELIANCE INFRASTRUCTURE: Has emerged the lowest bidder for installation of an emission control unit at 1,500-MW NTPC's power unit at Jhajjar in Haryana.

* RELIANCE NAVAL AND ENGINEERING: The Ahmedabad bench of National Company Law Tribunal has adjourned an insolvency case against the company to Jan 18.

* SHREE CEMENT: The board has decided to pay an interim dividend of 20 rupees per share. Has signed agreement to buy at least 92.83% stake in Union Cement Co of the United Arab Emirates for $305.24 mln.

* STATE BANK OF INDIA: The executive committee of the central board of the bank will, on Wednesday, consider the issuance of long term bonds worth 200 bln rupees, instead of the previously planned 50 bln rupees.

* SUZLON ENERGY: Tulsi Tanti is the new president of the Indian Wind Turbine Manufacturers' Association.

* SVC INDUSTRIES: The board has approved a proposal to sell its purified terephthalic acid plant at Mathura, Uttar Pradesh, on a slump sale basis.

* TATA CONSULTANCY SERVICES: The board has decided to pay an interim dividend of 7 rupees per share.

* TATA GLOBAL BEVERAGES: Is looking to divest its 41% stake in Amalgamated Plantations - India's second largest producer and supplier of tea with estates in Assam and the Dooars region of West Bengal.

* TATA TELESERVICES MAHARASHTRA: Tata Group earlier this week paid around 170 bln rupees to banks to settle a lion's share of the outstanding debt of the company, said two people close to development.

* TEXMACO RAIL & ENGINEERING: Has floated a new subsidiary Texmaco Defence Systems.

* VALIANT ORGANICS: Has received environmental clearance for expansion of production capacity by the Gujarat Pollution Control Board, Gandhinagar, through a provisional consent order.

* VARUN BEVERAGES: Has acquired franchisee rights for PepsiCo India's products for Chhattisgarh.