Today Stock News – 06.02.2018
* ANDHRA BANK: The board of directors will meet on Thursday to consider the proposal for raising equity capital by way of preferential allotment of shares to the government.
* BAJAJ AUTO: Expects to sell 210,000 motorcycles per month in domestic market by March, driven by a ramped up production of two new Discover motorcycle models it launched in January, said Chief Financial Officer Kevin D'Sa.
* BANK OF BARODA: Will cut its marginal cost of funds based lending rates by 10-25 basis points on some tenures, effective from Wednesday, according to a filing with the stock exchanges.
* BOMBAY DYEING & MANUFACTURING CO: Societe Generale bought 1.27 mln shares or 0.6% stake in the company at 215.98 rupees per share in a bulk deal on the National Stock Exchange.
* BROOKS LABORATORIES: The Vadodara facility of the company has received the good manufacturing certificate from the European Union.
* DILIP BUILDCON: Has received an order for four-laning of Kalmath-Zarap section of National Highway-66 in Maharashtra.
* DISH TV: The company and Videocon d2h are set to formalise a merger to create India's largest direct-to-home company valued at around $2.4 bln.
* EMAMI: The board has approved acquisition of 26% stake in Brillare Science in cash.
* GMR INFRASTRUCTURE: Arm GMR Chhattisgarh Energy has restarted operations at its thermal power plant in the state to supply 500 MW of power to Gujarat Urja Vikas Nigam under the 'tolling' policy of the Centre.
* GOPALA POLYPLAST: Board will meet on Feb 12 to consider raising funds through qualified institutional placement.
* GREAVES COTTON: The board has recommended paying an interim dividend of 4 rupees per share.
* HEG: Board will meet on Thursday to consider a proposal to buy back shares of the company.
* HOTEL LEELA VENTURE: The Supreme Court has dismissed an appeal by the company and accordingly asked them to pay 2.58 bln rupees to the Airport Authority of India regarding land leased by the airport operator near the Mumbai airport.
* IFCI: Board has approved equity infusion by the government through preferential issue.
* INDIA TOURISM DEVELOPMENT CORP: The government will soon initiate the sale of two hotels owned by the company, Department of Investment and Public Asset Management Secretary Neeraj Kumar Gupta said.
* INTERGLOBE AVIATION: Has sought the aviation ministry's permission to fly to key European cities starting October.
* JAYPEE INFRATECH: The Supreme Court has refused to stop bidding of the assets of the company, which is going through insolvency process, and also allowed the interim resolution professional to carry on the process.
* KELTECH ENERGIES: Has informed of an accident in the process building in one of the company's factories near Nagpur on Feb 1.
* KINETIC ENGINEERING: Board has approved conversion of 992,639 optionally convertible cumulative preference shares of 89.66 rupees a piece into allotment of 977,913 equity shares at conversion price of 91.01 rupees a share.
* LA OPALA RG: Board has approved the issue of one bonus share for every share held.
* MAHINDRA & MAHINDRA: Introduced 73.5kW mHAWK engine in T4+ and T6+ variants of TUV300 priced at 802,000 rupees and 859,000 rupees, respectively.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: Is in talks to raise as much as 300 mln via masala bonds.
* MARUTI SUZUKI INDIA: Total vehicle production rose 3.2% to 158,393 units in January from 153,544 units a year ago.
* MOIL: The board has approved buyback of 8.8 mln shares at 240 rupees a share for a total consideration of up to 2.1 bln rupees.
* NEW INDIA ASSURANCE: Is looking at coming up with simple, micro insurance products such as health, cattle and householders cover, that will be targeted at 600 mln customers who hold Jan Dhan Yojana bank accounts.
* NHPC: The 50 MW solar power project of the company in Dindigul district of Tamil Nadu has started partial generation power on Friday and partial load was 9.40 MW as of Monday.
* NTPC: Will introduce fixed-term employment in the company to take care of the specific time-barred projects as it seeks to consolidate its position as an integrated energy entity.
* OIL AND NATURAL GAS CORP: The government's plan to farm out a 60% stake in about 15 fields of the company and OIL INDIA to private players might lead to a dual system of contracts.
* OIL INDIA: Board will meet on Friday to consider the issue of bonus shares.
* PC JEWELLER: Fidelity Emerging Markets Fund bought 4.1 mln shares or 1% stake in the company at 435.93 rupees per share in a bulk deal on the National Stock Exchange.
* PUNJAB NATIONAL BANK: Has suspected 2.81-bln-rupee fraud based on preliminary investigation report at one of its branches, where certain irregularities on customer's accounts were observed. The Central Bureau of Investigation has filed a case against diamond merchant Nirav Modi, his wife, brother, and a business partner for allegedly cheating the bank of 2.81 bln rupees.
* RAMSARUP INDUSTRIES: Has been admitted by the Kolkata bench of National Company
Law Tribunal for initiation of corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016.
* RELIANCE COMMUNICATIONS: Has sought an upfront payment of $1.2 bln from the Chinese consortium of lenders in lieu of the joint development rights to the 125-acre Dhirubhai Ambani Knowledge City.
* RELIANCE INDUSTRIES: Vinod Tahiliani has been appointed as chief executive officer of India Gas Solutions, a joint venture of BP and the company. India Gas Solutions, its joint venture with BP, plans to begin selling imported liquefied natural gas to Indian customers in 12-18 months to cater to the rising natural gas demand in the country. Arm Reliance Brands pipped FirstCry.com to acquire the rights to operate stores of UK-based kids products company Mothercare in India.
* RELIGARE ENTERPRISES: IDBI Trusteeship Services sold 1.9 mln shares or 1.1% stake in the company through bulk deals on the BSE and the National Stock Exchange.
* SMS LIFESCIENCES INDIA: The board will meet on Thursday to consider the acquisition of API Manufacturing Co and issue non-convertible preference shares or non-convertible debentures.
* STATE BANK OF INDIA: Hardayal Prasad has been appointed as the managing director and chief executive officer of SBI Cards and Payment Services, or SBI Card, with effect from Thursday, the company said in a release today.
* TATA MOTORS: The company and Warburg Pincus have mutually agreed to call off the transaction in Tata Technologies. Jaguar Land Rover sold 7,834 units in the UK in January as against 8,121 units a year ago.
* TATA STEEL: German workers approved their union's results in talks with the company and ThyssenKrupp's steel division ahead of a planned merger.
* TORRENT PHARMA: Brazilian drugs firm EMS and the company have emerged as the only industry bidders for Sanofi's generic drugs unit, battling a series of buyout funds for an asset worth as much as $2.4 bln.
* TRF: Has completed the sale of its entire 51% stake in its subsidiary, Adithya Automotive Applications, to JL Power Ventures, an affiliate of Jasper Industries.
* UTTAM GALVA STEEL: ArcelorMittal to sell its 29.5% stake in the company at a loss.
* VIJAYA BANK: Board will meet on Thursday to consider and approve raising up to 12.77 bln rupees through issue of shares on a preferential basis to the government.
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* BAJAJ AUTO: Expects to sell 210,000 motorcycles per month in domestic market by March, driven by a ramped up production of two new Discover motorcycle models it launched in January, said Chief Financial Officer Kevin D'Sa.
* BANK OF BARODA: Will cut its marginal cost of funds based lending rates by 10-25 basis points on some tenures, effective from Wednesday, according to a filing with the stock exchanges.
* BOMBAY DYEING & MANUFACTURING CO: Societe Generale bought 1.27 mln shares or 0.6% stake in the company at 215.98 rupees per share in a bulk deal on the National Stock Exchange.
* BROOKS LABORATORIES: The Vadodara facility of the company has received the good manufacturing certificate from the European Union.
* DILIP BUILDCON: Has received an order for four-laning of Kalmath-Zarap section of National Highway-66 in Maharashtra.
* DISH TV: The company and Videocon d2h are set to formalise a merger to create India's largest direct-to-home company valued at around $2.4 bln.
* EMAMI: The board has approved acquisition of 26% stake in Brillare Science in cash.
* GMR INFRASTRUCTURE: Arm GMR Chhattisgarh Energy has restarted operations at its thermal power plant in the state to supply 500 MW of power to Gujarat Urja Vikas Nigam under the 'tolling' policy of the Centre.
* GOPALA POLYPLAST: Board will meet on Feb 12 to consider raising funds through qualified institutional placement.
* GREAVES COTTON: The board has recommended paying an interim dividend of 4 rupees per share.
* HEG: Board will meet on Thursday to consider a proposal to buy back shares of the company.
* HOTEL LEELA VENTURE: The Supreme Court has dismissed an appeal by the company and accordingly asked them to pay 2.58 bln rupees to the Airport Authority of India regarding land leased by the airport operator near the Mumbai airport.
* IFCI: Board has approved equity infusion by the government through preferential issue.
* INDIA TOURISM DEVELOPMENT CORP: The government will soon initiate the sale of two hotels owned by the company, Department of Investment and Public Asset Management Secretary Neeraj Kumar Gupta said.
* INTERGLOBE AVIATION: Has sought the aviation ministry's permission to fly to key European cities starting October.
* JAYPEE INFRATECH: The Supreme Court has refused to stop bidding of the assets of the company, which is going through insolvency process, and also allowed the interim resolution professional to carry on the process.
* KELTECH ENERGIES: Has informed of an accident in the process building in one of the company's factories near Nagpur on Feb 1.
* KINETIC ENGINEERING: Board has approved conversion of 992,639 optionally convertible cumulative preference shares of 89.66 rupees a piece into allotment of 977,913 equity shares at conversion price of 91.01 rupees a share.
* LA OPALA RG: Board has approved the issue of one bonus share for every share held.
* MAHINDRA & MAHINDRA: Introduced 73.5kW mHAWK engine in T4+ and T6+ variants of TUV300 priced at 802,000 rupees and 859,000 rupees, respectively.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: Is in talks to raise as much as 300 mln via masala bonds.
* MARUTI SUZUKI INDIA: Total vehicle production rose 3.2% to 158,393 units in January from 153,544 units a year ago.
* MOIL: The board has approved buyback of 8.8 mln shares at 240 rupees a share for a total consideration of up to 2.1 bln rupees.
* NEW INDIA ASSURANCE: Is looking at coming up with simple, micro insurance products such as health, cattle and householders cover, that will be targeted at 600 mln customers who hold Jan Dhan Yojana bank accounts.
* NHPC: The 50 MW solar power project of the company in Dindigul district of Tamil Nadu has started partial generation power on Friday and partial load was 9.40 MW as of Monday.
* NTPC: Will introduce fixed-term employment in the company to take care of the specific time-barred projects as it seeks to consolidate its position as an integrated energy entity.
* OIL AND NATURAL GAS CORP: The government's plan to farm out a 60% stake in about 15 fields of the company and OIL INDIA to private players might lead to a dual system of contracts.
* OIL INDIA: Board will meet on Friday to consider the issue of bonus shares.
* PC JEWELLER: Fidelity Emerging Markets Fund bought 4.1 mln shares or 1% stake in the company at 435.93 rupees per share in a bulk deal on the National Stock Exchange.
* PUNJAB NATIONAL BANK: Has suspected 2.81-bln-rupee fraud based on preliminary investigation report at one of its branches, where certain irregularities on customer's accounts were observed. The Central Bureau of Investigation has filed a case against diamond merchant Nirav Modi, his wife, brother, and a business partner for allegedly cheating the bank of 2.81 bln rupees.
* RAMSARUP INDUSTRIES: Has been admitted by the Kolkata bench of National Company
Law Tribunal for initiation of corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016.
* RELIANCE COMMUNICATIONS: Has sought an upfront payment of $1.2 bln from the Chinese consortium of lenders in lieu of the joint development rights to the 125-acre Dhirubhai Ambani Knowledge City.
* RELIANCE INDUSTRIES: Vinod Tahiliani has been appointed as chief executive officer of India Gas Solutions, a joint venture of BP and the company. India Gas Solutions, its joint venture with BP, plans to begin selling imported liquefied natural gas to Indian customers in 12-18 months to cater to the rising natural gas demand in the country. Arm Reliance Brands pipped FirstCry.com to acquire the rights to operate stores of UK-based kids products company Mothercare in India.
* RELIGARE ENTERPRISES: IDBI Trusteeship Services sold 1.9 mln shares or 1.1% stake in the company through bulk deals on the BSE and the National Stock Exchange.
* SMS LIFESCIENCES INDIA: The board will meet on Thursday to consider the acquisition of API Manufacturing Co and issue non-convertible preference shares or non-convertible debentures.
* STATE BANK OF INDIA: Hardayal Prasad has been appointed as the managing director and chief executive officer of SBI Cards and Payment Services, or SBI Card, with effect from Thursday, the company said in a release today.
* TATA MOTORS: The company and Warburg Pincus have mutually agreed to call off the transaction in Tata Technologies. Jaguar Land Rover sold 7,834 units in the UK in January as against 8,121 units a year ago.
* TATA STEEL: German workers approved their union's results in talks with the company and ThyssenKrupp's steel division ahead of a planned merger.
* TORRENT PHARMA: Brazilian drugs firm EMS and the company have emerged as the only industry bidders for Sanofi's generic drugs unit, battling a series of buyout funds for an asset worth as much as $2.4 bln.
* TRF: Has completed the sale of its entire 51% stake in its subsidiary, Adithya Automotive Applications, to JL Power Ventures, an affiliate of Jasper Industries.
* UTTAM GALVA STEEL: ArcelorMittal to sell its 29.5% stake in the company at a loss.
* VIJAYA BANK: Board will meet on Thursday to consider and approve raising up to 12.77 bln rupees through issue of shares on a preferential basis to the government.
