Today Stock News – 08.03.2018
* 63 MOONS TECHNOLOGIES: Financial Services Commission, Mauritius regulator, has terminated Securities Exchange Licence of Bourse Africa , a wholly-owned subsidiary of FT Group Investments.
* ADANI PORTS AND SPECIAL ECONOMIC ZONE: The Adani Group plans to expand its Dhamra Port Co to incorporate a private industrial park with an investment of 10.88 bln rupees.
* AXIS BANK: Is in the process of tying up with WhatsApp for payments based on Unified Payments Interface, said Rajiv Anand, the executive director-retail bank.
* BHARTI AIRTEL: Board will meet on Monday to consider raising funds through debt.
* CANARA BANK: Has raised its marginal cost of funds-based lending rates by 10-15 basis points across tenures, data on the lender's website showed.
* DALMIA BHARAT: Lenders to bankrupt Binani Cement have decided that the bid of the company-led consortium, judged the highest offer, would be allowed, overruling the objections of ULTRATECH CEMENT.
* EDELWEISS FINANCIAL SERVICES: Edelweiss Group has been allocating 10% of their profit before tax every year for investment in different business models, technology innovation, among other areas, which will translate into an asymmetric payoff, Chairman and Chief Executive Officer Rashesh Shah said.
* GAYATRI PROJECTS: Qualified institutional placement opened on Wednesday with the floor price of 211.65 rupees per share.
* HERO MOTOCORP: Has launched new Super Splendor at 57,190 rupees, ex-showroom Delhi.
* HOUSING DEVELOPMENT FINANCE CORP: Will sell 5.1% stake in Computer Age Management Services to Great Terrain Investment for 1.69 bln rupees in cash.
* ICICI BANK: Has said that the Serious Fraud Investigation Office's summons to Managing Director Chanda Kochhar would not have any material impact on the bank.
* IDBI BANK: The bank on Wednesday recalled three of its additional tier 1 bonds, issued between October 2014 and January 2017.
* IDEA CELLULAR: American Tower Corp's acquisition of the company's and Vodafone India's towers for $1.2 bln is set to get delayed.
* INTERGLOBE AVIATION: Competition Commission of India has imposed penalty of 94.5 mln rupees on the company for "concerted action in fixing and revising fuel surcharge", which is a component of freight charges.
* ITC: Agri Business Division is gearing up to launch apples and potatoes in Bengaluru this year, ITC's group head for Agri and IT Businesses S. Sivakumar said.
* JET AIRWAYS INDIA: Competition Commission of India has imposed penalty of 398.1 mln rupees on the company for "concerted action in fixing and revising fuel surcharge", which is a component of freight charges.
* JSW STEEL: Has not signed any memorandum of understanding to acquire Aferpi, Italy's second-largest steelmaker.
* MAHINDRA & MAHINDRA: Swaraj Tractors, a division of the company, launched its most powerful 60-horse power tractor starting at 740,000 rupees, ex-showroom Mohali.
* MARICO: Has sold its entire 45% stake in Bellezimo Professionale Products for 16 mln rupees to the promoter of Bellezimo Professionale Products.
* MOIL: Has appointed IDBI Capital Markets & Securities as manager for buyback offer.
* NEWGEN SOFTWARE TECHNOLOGIES: Has received order worth 532 mln rupees for the digitisation of judicial records in Madhya Pradesh's district and tehsil courts on turnkey basis.
* NITCO: Board has allotted 7.01 mln shares of face value 10 rupees to JM Financial Asset Reconstruction Co at a premium of 104.16 rupees, aggregating to 800 mln rupees.
* PIDILITE INDUSTRIES: Has entered into collaboration with Germany-based Jowat SE to sell and distribute entire range of Jowat adhesives in India and other countries including Sri Lanka, Bangladesh, and Nepal.
* PUNJAB ALKALIES & CHEMICALS: IDBI BANK has sold 800,000 shares or 2.94% stake in the company at 30.70 rupees per share through a bulk deal on the BSE.
* PUNJAB NATIONAL BANK: A significant portion of the funds raised fraudulently by Nirav Modi group from the bank, through guarantees issued by it to overseas branches of Indian banks, has been used for buying immovable properties abroad, the Enforcement Directorate believes. The bank's chief executive officer Sunil Mehta was questioned for five hours at the Mumbai office of the Serious Fraud Investigation Office in connection with the 126.22-bln-rupee Nirav Modi scam.
* RELIANCE CAPITAL: Has appointed Anand Natarajan as chief operating officer.
* RELIANCE COMMUNICATIONS: The National Company Law Tribunal has stayed till Tuesday the sale of tower assets by the company's subsidiary--Reliance Infratel--to Reliance Jio Infocomm. The meeting of the holders of the $300 mln notes has been adjourned to Mar 20.
* RUSHIL DCOR: Has approved issuance of up to 211,644 shares through preferential issue to non promoters Manish Shailendra Srivastava and Rakesh Bhagwan Das Arora at an issue price of 945 rupees apiece.
* SPICEJET: Competition Commission of India has imposed penalty of 51 mln rupees on the company for "concerted action in fixing and revising fuel surcharge", which is a component of freight charges. Will start operations on 'Ude Desh ka Aam Naagrik' two routes by the end of April, chairman and managing director Ajay Singh said.
* SREI INFRASTRUCTURE FINANCE: Has raised 20 bln rupees through a public issue of non-convertible debentures which closed for subscription.
* STATE BANK OF INDIA: The Reserve Bank of India has imposed a penalty of 4 mln rupees on the bank on Mar 1, for non-compliance with the regulator's guidelines on Detection and Impounding of Counterfeit Notes. The bank, UNITED BANK OF INDIA and IFCI are looking for buyers to sell as many as 110 accounts that have turned dud to recover dues over 163.49 bln rupees.
* STERLITE TECHNOLOGIES: A rise in demand of optical fibre to complete the adoption of fourth generation telecom network across the country and roll out fifth generation network is likely to help the company, Chief Financial Officer Anupam Jindal said.
* STRIDES SHASUN: The company will launch ranitidine over-the-counter tablets, a generic of Zantac, in 75-mg strength in the US.
* TATA STEEL: Has received formal communication from resolution professionals confirming that the company was the highest compliant bidder to acquire controlling stake in BHUSHAN STEEL.
* TEAMLEASE SERVICES: Indus India Fund Mauritius has bought 371,780 shares or 2.2% stake in the company at 2,150.04 rupees apiece through a bulk deal on the National Stock Exchange.
* TORRENT POWER: Has won an order from Maharashtra State Electricity Distribution Co to set up a 124.4-MW wind power project in Maharashtra.
* UNION BANK OF INDIA: May reconsider its proposed issue of additional tier-I bonds by March, after the Reserve Bank of India asked public sector banks under prompt correct action to pre-call their tier-I bonds, Managing Director and Chief Executive Officer Rajkiran Rai G. said.
* UNITED BREWERIES: Heineken has proposed to buy Vijay Mallya's unpledged shares in the company from the Enforcement Directorate to secure complete control in India's top beer producer.
* WELSPUN INDIA: Has opposed Chinese company Kunrong Que's registration for 'WELHOME' in the US Patent and Trademark Office before the Trademark Trial and Appeal Board.
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* ADANI PORTS AND SPECIAL ECONOMIC ZONE: The Adani Group plans to expand its Dhamra Port Co to incorporate a private industrial park with an investment of 10.88 bln rupees.
* AXIS BANK: Is in the process of tying up with WhatsApp for payments based on Unified Payments Interface, said Rajiv Anand, the executive director-retail bank.
* BHARTI AIRTEL: Board will meet on Monday to consider raising funds through debt.
* CANARA BANK: Has raised its marginal cost of funds-based lending rates by 10-15 basis points across tenures, data on the lender's website showed.
* DALMIA BHARAT: Lenders to bankrupt Binani Cement have decided that the bid of the company-led consortium, judged the highest offer, would be allowed, overruling the objections of ULTRATECH CEMENT.
* EDELWEISS FINANCIAL SERVICES: Edelweiss Group has been allocating 10% of their profit before tax every year for investment in different business models, technology innovation, among other areas, which will translate into an asymmetric payoff, Chairman and Chief Executive Officer Rashesh Shah said.
* GAYATRI PROJECTS: Qualified institutional placement opened on Wednesday with the floor price of 211.65 rupees per share.
* HERO MOTOCORP: Has launched new Super Splendor at 57,190 rupees, ex-showroom Delhi.
* HOUSING DEVELOPMENT FINANCE CORP: Will sell 5.1% stake in Computer Age Management Services to Great Terrain Investment for 1.69 bln rupees in cash.
* ICICI BANK: Has said that the Serious Fraud Investigation Office's summons to Managing Director Chanda Kochhar would not have any material impact on the bank.
* IDBI BANK: The bank on Wednesday recalled three of its additional tier 1 bonds, issued between October 2014 and January 2017.
* IDEA CELLULAR: American Tower Corp's acquisition of the company's and Vodafone India's towers for $1.2 bln is set to get delayed.
* INTERGLOBE AVIATION: Competition Commission of India has imposed penalty of 94.5 mln rupees on the company for "concerted action in fixing and revising fuel surcharge", which is a component of freight charges.
* ITC: Agri Business Division is gearing up to launch apples and potatoes in Bengaluru this year, ITC's group head for Agri and IT Businesses S. Sivakumar said.
* JET AIRWAYS INDIA: Competition Commission of India has imposed penalty of 398.1 mln rupees on the company for "concerted action in fixing and revising fuel surcharge", which is a component of freight charges.
* JSW STEEL: Has not signed any memorandum of understanding to acquire Aferpi, Italy's second-largest steelmaker.
* MAHINDRA & MAHINDRA: Swaraj Tractors, a division of the company, launched its most powerful 60-horse power tractor starting at 740,000 rupees, ex-showroom Mohali.
* MARICO: Has sold its entire 45% stake in Bellezimo Professionale Products for 16 mln rupees to the promoter of Bellezimo Professionale Products.
* MOIL: Has appointed IDBI Capital Markets & Securities as manager for buyback offer.
* NEWGEN SOFTWARE TECHNOLOGIES: Has received order worth 532 mln rupees for the digitisation of judicial records in Madhya Pradesh's district and tehsil courts on turnkey basis.
* NITCO: Board has allotted 7.01 mln shares of face value 10 rupees to JM Financial Asset Reconstruction Co at a premium of 104.16 rupees, aggregating to 800 mln rupees.
* PIDILITE INDUSTRIES: Has entered into collaboration with Germany-based Jowat SE to sell and distribute entire range of Jowat adhesives in India and other countries including Sri Lanka, Bangladesh, and Nepal.
* PUNJAB ALKALIES & CHEMICALS: IDBI BANK has sold 800,000 shares or 2.94% stake in the company at 30.70 rupees per share through a bulk deal on the BSE.
* PUNJAB NATIONAL BANK: A significant portion of the funds raised fraudulently by Nirav Modi group from the bank, through guarantees issued by it to overseas branches of Indian banks, has been used for buying immovable properties abroad, the Enforcement Directorate believes. The bank's chief executive officer Sunil Mehta was questioned for five hours at the Mumbai office of the Serious Fraud Investigation Office in connection with the 126.22-bln-rupee Nirav Modi scam.
* RELIANCE CAPITAL: Has appointed Anand Natarajan as chief operating officer.
* RELIANCE COMMUNICATIONS: The National Company Law Tribunal has stayed till Tuesday the sale of tower assets by the company's subsidiary--Reliance Infratel--to Reliance Jio Infocomm. The meeting of the holders of the $300 mln notes has been adjourned to Mar 20.
* RUSHIL DCOR: Has approved issuance of up to 211,644 shares through preferential issue to non promoters Manish Shailendra Srivastava and Rakesh Bhagwan Das Arora at an issue price of 945 rupees apiece.
* SPICEJET: Competition Commission of India has imposed penalty of 51 mln rupees on the company for "concerted action in fixing and revising fuel surcharge", which is a component of freight charges. Will start operations on 'Ude Desh ka Aam Naagrik' two routes by the end of April, chairman and managing director Ajay Singh said.
* SREI INFRASTRUCTURE FINANCE: Has raised 20 bln rupees through a public issue of non-convertible debentures which closed for subscription.
* STATE BANK OF INDIA: The Reserve Bank of India has imposed a penalty of 4 mln rupees on the bank on Mar 1, for non-compliance with the regulator's guidelines on Detection and Impounding of Counterfeit Notes. The bank, UNITED BANK OF INDIA and IFCI are looking for buyers to sell as many as 110 accounts that have turned dud to recover dues over 163.49 bln rupees.
* STERLITE TECHNOLOGIES: A rise in demand of optical fibre to complete the adoption of fourth generation telecom network across the country and roll out fifth generation network is likely to help the company, Chief Financial Officer Anupam Jindal said.
* STRIDES SHASUN: The company will launch ranitidine over-the-counter tablets, a generic of Zantac, in 75-mg strength in the US.
* TATA STEEL: Has received formal communication from resolution professionals confirming that the company was the highest compliant bidder to acquire controlling stake in BHUSHAN STEEL.
* TEAMLEASE SERVICES: Indus India Fund Mauritius has bought 371,780 shares or 2.2% stake in the company at 2,150.04 rupees apiece through a bulk deal on the National Stock Exchange.
* TORRENT POWER: Has won an order from Maharashtra State Electricity Distribution Co to set up a 124.4-MW wind power project in Maharashtra.
* UNION BANK OF INDIA: May reconsider its proposed issue of additional tier-I bonds by March, after the Reserve Bank of India asked public sector banks under prompt correct action to pre-call their tier-I bonds, Managing Director and Chief Executive Officer Rajkiran Rai G. said.
* UNITED BREWERIES: Heineken has proposed to buy Vijay Mallya's unpledged shares in the company from the Enforcement Directorate to secure complete control in India's top beer producer.
* WELSPUN INDIA: Has opposed Chinese company Kunrong Que's registration for 'WELHOME' in the US Patent and Trademark Office before the Trademark Trial and Appeal Board.
