Today's Stock News – 13.06.2019

Today's Stock News – 13.06.2019 

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* ADANI GREEN ENERGY: Has issued green bonds worth $500 mln through its three subsidiaries on the global securities market.

* ALLAHABAD BANK: Will cut its marginal cost of funds-based lending rates by 5 basis points across tenures, effective Friday.

* BANK OF BARODA: The bank and ECL Finance have entered into a strategic partnership to offer loans to micro, small and medium enterprises, self-employed, and priority sector groups.

* BHARTI AIRTEL: VODAFONE IDEA and the company have initiated separate "exploratory talks" with South Korea's Samsung to source equipment for their 4G networks and future 5G deployments, even as uncertainty looms over the future of Huawei in India after a US ban on the Chinese vendor.

* CENTRAL BANK OF INDIA: Is looking to divest its entire stake in subsidiary Cent Bank Home Finance and has invited bids to appoint merchant banker to ascertain the value.

* DEWAN HOUSING FINANCE CORP: Paid interest of 58.85 mln rupees on non-convertible debentures due Wednesday.
-The promoters of the company are willing to share control of the embattled company by selling half
their stake to a "strategic investor". Kapil Wadhawan, who represents the promoters in the board, is also open to stepping down as managing director and keeping only the chairman's position so that the company can be run jointly with the new partner.

* GAIL (INDIA): Has proposed to assume the debt of about 40 bln rupees of Konkan LNG in lieu of receiving the lenders' stake in the company for free.

* GREENPLY INDUSTRIES: Will acquire 30% stake in Nemani Panels for 18 mln rupees.

* GUJARAT STATE FERTILIZERS & CHEMICALS: Production at ammonia-IV and Urea-II plants at Baroda in Gujarat will commence on today.

* HDFC LIFE INSURANCE CO: The company's new insurance premium rose 52.0% on year in May, while that of SBI Life Insurance Co rose 44.9%.

* HINDUJA GLOBAL SOLUTIONS: Fidelity Funds Asian Smaller Companies Pool has bought 269,303 shares or 1.29% stake in the company through separate bulk deals on National Stock Exchange and BSE.

* HINDUSTAN CONSTRUCTION CO: Board will meet on Monday to mull raising funds through issue of rupee-denominated or foreign currency-denominated securities, by way of public issue or private placement, including qualified institution placement or any other mode.

* HINDUSTAN FOODS: Westbridge AIF I bought 3.04% stake or 409,979 shares in the company at 425 rupees apiece through a bulk deal on BSE.

* ICICI PRUDENTIAL LIFE INSURANCE CO: Premium income of the company gained 26.6% during the month.

* INFOBEANS TECHNOLOGIES: Kuber India Fund has sold 130,000 shares or 0.5% stake in the company at 69 rupees apiece through a bulk deal on the National Stock Exchange.

* JET AIRWAYS (INDIA): The National Stock Exchange has barred the company from the equity derivatives segment, effective from Jun 28, as the company failed to make timely disclosures of various developments and also did not detail its earnings for 2018-19 (Apr-Mar).
In an effort to iron out the thorny issues involving the sale of the company, its lenders and representatives of Etihad Airways and Hindujas met on Wednesday.
-Could lose its wide-body Boeing 777 fleet as its lender US Export-Import Bank has written to the
Directorate General of Civil Aviation to de-register the aircraft.

* KPIT TECHNOLOGIES: Vanguard Group has sold 4.86 mln shares of the company at 98 rupees apiece through separate bulk deal on National Stock Exchange and BSE.

* LARSEN & TOUBRO: Will soon garner more than 40% stake and pursue its open offer for MINDTREE Chairman A.M. Naik said, even as he criticised the sustained hostile approach to the takeover by the founders of the mid-tier information technology services firm.

* MANGALORE CHEMICALS & FERTILIZERS: Restarted production at its ammonia, urea and ammonium bicarbonate plants in Mangaluru on normalisation of water supply.

* MARINE ELECTRICALS (INDIA): Has received an order worth 218.9 mln rupees for a Boeing project.

* MARUTI SUZUKI INDIA: The company, Hyundai Motor India, and Honda Cars India have raised discounts on their passenger cars in June as they look to clear the inventory that has piled up over the past few months due to a persistent slump in sales.

* MCLEOD RUSSEL INDIA: Vistra ITCL (India) invoked pledge on 3.8 mln shares or 3.64% stake of
promoters in the company on Monday and Tuesday against NCDs and a term loan.

* MINDTREE: Independent directors of the company said LARSEN & TOUBRO's open offer of 980 rupees per share 'appears to be fair and reasonable' and is in accordance with the market regulator's takeover rules.

* NMDC: Barring Kumaraswamy Mines in Karnataka, production of iron ore by the company came to a standstill as the company halted production at Bailadilla Range in Dantewada, Chhattisgarh, due to protest by tribals.

* NTPC: Entered into an agreement with East Delhi Municipal Corp to form a joint venture to develop and operate waste management and energy generation facility using municipal solid waste generated in East Delhi Municipal Corp region and other areas.

* POWER FINANCE CORP: Has raised $1 bln through Regulation-S bonds in two tranches.

* PTC INDIA FINANCIAL SERVICES: Will raise its marginal lending rate by at least 150 basis points.

* RELIANCE INDUSTRIES: Will not extend a guarantee on the debt that will be transferred along with Reliance Jio Infocomm's assets to infrastructure investment trusts.

* RELIANCE NIPPON LIFE ASSET MANAGEMENT: RELIANCE CAPITAL will sell at least 17.51 mln shares, or 2.86% stake in the company through an offer for sale of shares on Thursday and Friday, its second such sale in a month.

* TATA CONSULTANCY SERVICES: Will implement Reserve Bank of India's centralised information and management system for seamless data collection and validations at a cost of 3.11 bln rupees.

* TATA MOTORS: Total global wholesale sales, including those of subsidiary Jaguar Land Rover, fell 23% on year in May to 82,374 units.

* WIPRO: The company and Moogsoft have entered into an agreement for artificial intelligence solutions.

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