Today's Stock View – 14.01.2019

Today's Stock View – 14.01.2019


* BAJAJ HOLDINGS & INVESTMENT: Supreme Court has ordered the company to pay 232 rupees per share with 18% interest per annum since Jan 14, 2006 to purchase 27% stake of Western
Maharashtra Development Corp in jointly-floated company Maharashtra Scooters.

* BHARAT HEAVY ELECTRICALS: The company has approached the National Company Law
Appellate Tribunal seeking to recover its dues from stressed company Monnet Ispat.

* BHARAT PETROLEUM CORP: Will raise $500 mln from overseas bond sale. Close to getting cabinet backing to expand the capacity of its refinery located at Numaligarh in Assam's Golaghat district by 6 mln tn with an investment of 220 bln rupees. Plans to import 1 mln barrels of Iranian oil in February and March after a gap of three months, Managing Director R. Ramachandran said.

* BHARTI AIRTEL: Agreed to give part of its stake in Airtel Tanzania to the government, raising the
east African nation's holding in the firm to 49% from 40%.

* FEDERAL BANK: Executive Director Ganesh Sankaran will step down from the board with effect
from Feb 15.

* FORTIS HEALTHCARE: Has moved the Supreme Court seeking modification to an order by the
apex court regarding stay on its stake sale to Malaysia-based IHH Healthcare Berhad.

* FUTURE RETAIL: Future Group is expecting online sales of around 10 bln rupees this financial
year, its founder and CEO Kishore Biyani said.

* HOUSING DEVELOPMENT FINANCE CORP: Has raised 50 bln rupees through sale of bonds
maturing on Dec 15, 2020, and has set 8.70% coupon on them.

* IDBI BANK: Only 22% of minority shareholders of the bank exercised their option of exiting the
company in the open offer floated by LIC, which is taking a majority stake in the bank.

* IL&FS ENGINEERING AND CONSTRUCTION CO: Received a notice from Gujarat Metro Rail Corp to terminate the contract for construction of viaduct corridor, including four elevated metro stations, for the Ahmedabad metro rail project phase-1.

* INFOSYS: American Depositary Receipts of the company surged nearly 4% after the company
raised its constant currency sales growth guidance for 2018-19 (Apr-Mar) to 8.0-9.5% from 6.0-
8.0% earlier. The board of the company has decided to spend up to 82.60 bln rupees to buy back shares at not more than 800 rupees apiece, an 18% premium to Friday's closing price, via open market. Looks to lower employee utilisation to 83-85% from 86% as on Apr 1.

* JET AIRWAYS: Aircraft lessors and the company have failed to ease a row over late payments,
prompting some lessors to explore taking back aircraft.
-Talks among the company, its lenders and partner Etihad Airways over a possible rescue are
stuck over stipulations by the Gulf carrier about further investment, particularly that it won't pledge
its shares as collateral against loans to the Indian carrier.
-As many as 18 CFM56 engines belonging to the company have been held back by a
maintenance, repair and overhaul unit in Singapore over unpaid dues.

* JSW STEEL: Which came from behind to surge ahead of the Tatas in the race for Bhushan Power
and Steel with an offer of 197 bln rupees, is unlikely to face competition in its bid to acquire the
stressed asset with the Tatas unwilling to up their original offer.

* LUPIN: In the process of developing a pipeline of products under its new drug discovery
programme to treat various diseases like cancer and metabolic disorders.

* PARSVNATH DEVELOPERS: The National Company Law Tribunal has given its approval to start the insolvency proceedings against the company's subsidiary, which is developing a housing project in the national capital.

* PFIZER: The US-headquartered pharmaceuticals entity has sent details of its job severance
financial package to staff at its facilities at Aurangabad, Maharashtra, and Irungattukottai, 40 km
from Chennai.

* PUNJAB NATIONAL BANK: PNB HOUSING FINANCE in the aftermath of the IL&FS crisis and Carlyle's exit from a plan to jointly divest equity are likely to delay the bank's bid to pare its stake in the mortgage lender even beyond this fiscal.

* RELIANCE INDUSTRIES: The Department of Telecommunications allocated microwave access or backhaul spectrum to two operators--subsidiary Reliance Jio and Sistema Shyam Teleservices-- in
2015 as they agreed to follow the provisional guidelines regarding the allotment of such airwaves.

* SUN PHARMACEUTICAL INDUSTRIES: Commercialised Xelpros drug in the US. This
commercialisation has triggered a milestone payment of $10 mln and sales-linked royalties by the
company to SUN PHARMA ADVANCED RESEARCH CO. Received the US Food and Drug Administration's approval for Cerinta tablet, a generic of levonorgestrel and ethinyl estradiol, in 0.02 mg and 0.1 mg strengths.

* SUZLON ENERGY: Sold its balance stake in subsidiary Rudra Solarfarms to AMPSolar Ventures for 142.1 mln rupees.

* TATA CONSULTANCY SERVICES: Said it won't engage in a price war although some of its rivals
have offered discounts to win new business.

* TORRENT PHARMACEUTICALS: The board will meet on Jan 30 to consider raising funds by issue of shares including convertible bonds or debentures through qualified institutional placement or
depository receipts or any other modes.

* UCO BANK: Board will meet on Thursday to consider issue of shares to the government, against
capital infusion of 30.8 bln rupees.

* YES BANK: Executive Rajat Monga and a chief executive officer of a foreign bank have been
shortlisted to succeed long-serving Managing Director and CEO Rana Kapoor at the bank. Has inked a pact with Kia Motors for finance and banking solutions. Appointed Brahm Dutt as non-executive, part-time chairman of its board till Jul 4, 2020, and the appointment has been approved by the Reserve Bank of India.

* ZYDUS WELLNESS: Plans to raise up to 15 bln rupees through three bonds maturing in January
2022, January 2023 and January 2024, and has invited bids on Tuesday.

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