Today's Stock View – 14.12.2018

Today's Stock View – 14.12.2018

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* ADANI ENTERPRISES: Adani Defence Systems, a wholly-owned arm of the company, has acquired Alpha Design Technologies for 4 bln rupees.

* AGC NETWORKS: India Opportunities Growth Fund Ltd has sold 500,000 shares or 1.68% stake in the company at 63.50 rupees apiece through a bulk deal on the BSE.

* ASHAPURA INTIMATES FASHION: DSP Small and Midcap Fund has sold 1.73 mln shares or 6.88% stake in the company through two bulk deals on the National Stock Exchange and BSE.

* AXIS BANK: The Supreme Court Thursday refused to entertain the bank's plea opposing the release of 93.9 mln rupees, which is part of 35 bln rupees awarded by a Singapore tribunal to Daiichi Sankyo in its case against former Ranbaxy promoters Malvinder and Shivinder Singh.

* BANK OF INDIA: Sought bids from financial advisors who will be roped in to execute the sale of its nonperforming asset portfolio, including the processes of due diligence and valuation of NPAs.

* BHARTI AIRTEL: Aircel has approached the Supreme Court, complaining that the telecom department and the company had not complied with its order to return bank guarantees worth 4.53 bln rupees or pay the same amount in cash to the company.

* CANARA BANK: Received a notice from the United Forum of Bank Union to go on strike on Dec 26 for issues relating to the industry.

* CASTEX TECHNOLOGIES: Lenders have moved the National Company Law Tribunal to withdraw an application that had sought the tribunals nod to go ahead with the approved resolution plan submitted by the UK-based Liberty House Group.

* DELTA CORP: Arm Daman Hospitality has filed a writ petition with the Bombay High Court against Union Territories Administration of Daman and Diu, seeking licence to install electronic amusement machines at its property--The Deltin Hotel.

* DILIP BUILDCON: CARE Rating downgraded the rating on the company's long-term bank facilities to A from A+, with a stable outlook.

* EICHER MOTORS: Royal Enfield plans to extend the second phase of its Vallam Vadagal plant in Tamil Nadu.

* IDBI BANK: Is awaiting Reserve Bank of India's nod to recover Binani Cement's dues from ULTRATECH CEMENT.

* IDFC BANK: The National Company Law Tribunal has approved the merger of Capital First, Capital First Home Finance, and Capital First Securities with the company.

* IL&FS TRANSPORTATION NETWORKS: The board has appointed Shaivali Parekh as chief financial officer and key managerial personnel of the company effective Thursday. Has requested the National Stock Exchange not to impose penalty on the company for delay in detailing financial results for Jul-Sep.

* INDIABULLS VENTURES: Allotted 1.08 mln compulsorily convertible debentures at 550 rupees each, totalling 592 mln rupees, to DF International Private Partners III LP.

* INDIAN HOTELS CO: Has signed a new Taj-branded hotel in Lucknow in partnership with Luxus
Hospitality.

* INDIAN OIL CORP: Will buy back up to 297.65 mln shares at 149 rupees apiece. Declared an interim dividend of 6.75 per share.

* LARSEN & TOUBRO: The Specified Undertaking of the Unit Trust of India is likely to offer its entire 1.8% stake in the share buyback plan of the company and expects an acceptance ratio of around 20%, sources said.

* LUPIN: Received tentative approval from the US Food and Drug Administration to market dimethyl fumarate delayed release capsules, in 120-mg and 240-mg strengths.

* MARUTI SUZUKI INDIA: The Haryana government has offered the company at least seven new locations to choose from for a factory that is being planned.

* MAX FINANCIAL SERVICES: New York Life Insurance Co has bought nearly 5 mln shares or 1.86% stake in the company at 429.50 rupees apiece through a bulk deal on the National Stock Exchange.

* MAX INDIA: KKR-led Radiant Life Care is in advanced talks to acquire Max Healthcare, the company's hospital chain. Private equity firm True North is in advanced talks to buy a large stake in Max Bupa Health Insurance, a joint venture between the company and the UK-based healthcare services expert Bupa.

* MOTHERSON SUMI SYSTEMS: Is in talks to acquire or merge with Germany-based Leoni, the largest maker of special automotive cable globally.

* NMDC: Iron ore production in Apr-Nov was 18.76 mln tn and sales were 19.30 mln tn.

* NTPC: With solar tariffs having fallen in the auctions, the government has decided to withdraw its scheme to bundle thermal power with solar energy, which was being implemented by the company.

* POWER FINANCE CORP: Said it is yet to take a decision on making an open offer to REC's minority shareholders post acquisition. Plans to fund its acquisition of REC by borrowing 70 bln rupees from domestic banks, for which negotiations have begun, and is likely to moderate its dividend pay out as well as disbursements to loan accounts this financial year.

* PUNJAB NATIONAL BANK: Has mobilised 5 bln rupees through its employees stock options scheme.

* RELIANCE CAPITAL: Subsidiary Reliance Corporate Advisory Services has sold 19.50% stake held in Menon and Menon for an aggregate consideration of 230 mln rupees.

* RELIANCE COMMUNICATIONS: The Supreme Court dismissed the company's plea for more time to pay the Swedish telecom gear maker Ericsson, dealing a big blow to the debt-ridden company, which could now be dragged back into insolvency proceedings.

* RELIANCE INDUSTRIES: The board of Reliance Jio Infocomm, which cleared a proposal to spin off its tower and fibre undertakings into separate companies, is looking at alternatives for monetisation.

* SPICEJET: Will launch six direct daily flights on Chennai-Varanasi, Chennai-Shirdi, and Chennai-Bagdogra routes.

* SUN PHARMACEUTICAL INDUSTRIES: Promoter Raksha Valia had pledged 8.78 mln shares or 0.37% stake with three different entities.

* ULTRATECH CEMENT: Has changed the name of Binani Cement to UltraTech Nathdwara Cement after acquiring the debt-ridden company.

* UNITED BREWERIES: Denmark's Carlsberg and the company have filed pleas with government
authorities, seeking leniency in a probe into alleged collusion to fix beer prices.

* VIJAYA BANK: Will raise its one-month, three-month, and six-month marginal cost of funds-based lending rates by 5 basis points on Friday.

* WIPRO: Wipro Infrastructure Engineering, a part of the company, has signed a pact with the USheadquartered Rockwell Automation through its arm WIN Automation Solutions to tap the emerging industrial automation market.
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