STOCKS NEWS TODAY – 07.09.2016
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* ADITYA BIRLA FASHION AND RETAIL: Has forayed into the 70-bln-rupee men's premium innerwear and athleisure market by introducing a new range under the Van Heusen brand name.
* BERGER PAINTS: Will invest around 5 bln rupees towards capacity expansion and setting up new units over the next three years.
* BRITANNIA INDUSTRIES: The Delhi High Court has directed the company to withdraw its NutriChoice Digestive Zero biscuits in their current packaging from the market in four weeks after ITC alleged the former had copied the packaging of its Sunfeast Farmlite Digestive All Good biscuits.
* ENGINEERS INDIA: Has signed a contract with INDIAN OIL CORP to provide consultancy services on quality upgradation at six refineries operated by the state-owned oil refiner.
* ESSAR OIL: In a bid to expedite Rosneft's acquisition of 49% stake in the company, the legal teams of Essar Group and Russian oil major Rosneft are meeting later this week to sort out issues raised by Indian banks on the impact of US sanctions on Russian companies.
* ESSAR STEEL: Lenders will meet today to consider conversion of a portion of the company's 400 bln rupees debt into instruments carrying specific interest rates. Has requested banks to convert 122 bln rupees of loans into equity--90 bln rupees into preference shares
redeemable after 12-18 years, and 32 bln rupees into common equity.
* IL&FS ENGINEERING SERVICES: Has received an order worth 1.73 bln rupees from GAIL (India) for laying a 91 km pipeline at Kochi-Koottanad-Bengaluru- Mangaluru Pipeline Project Phase-II in Kerala.
* INDIAN HOTELS CO: The operator of Delhi's iconic Taj Mansingh hotel has challenged the single-judge order of Delhi High Court that allowed auctioning the property and declined requests to renew the operator's licence.
* INFO EDGE INDIA: The company, through its subsidiary, has invested 60 mln rupees in Green Leaves Consumer Services, the operator of stylist-on-demand marketplace bigstylist.com.
* INDIAN OIL CORP: Might hold 50% in a refinery being planned on the west coast if Saudi Arabia and Kuwait do not take up the offer of an equity stake.
* JINDAL STEEL & POWER: The company's steel business is seen improving from his month, Managing Director and Group Chief Executive Officer Ravi Uppal said.
* JUBILANT FOODWORKS: Morgan Stanley Mauritius Co has sold 430,845 shares, or 0.65% stake, in the company at 1,083.67 rupees per share, through a bulk deal on the National Stock Exchange. Aims to make profit from day one of operations from stores it plans to open during the financial year 2016-17 (Apr-Mar), Chief Investor Relations Officer Arvind Vats said.
* LARSEN & TOUBRO: Arm L&T Technology Services hopes to clock $1 bln in sales in the next three-four years, and in order to achieve this target, it will will be eyeing acquisitions with a revenue of $150 mln- $200 mln.
* LINC PEN & PLASTICS: Is aiming to double its revenue by 2019-20 (Apr-Mar), banking on the
company's new 270-mln-rupee manufacturing unit in Gujarat that is set to begin production from April, Managing Director Deepak Jalan said.
* LUPIN: Has received tentative approval from the US Food and Drug Administration for its generic of Allergan's Rapaflo capsules.
* MANGALORE REFINERY AND PETROCHEMICALS: Is fully geared to convert the refinery from BS4 to BS6 by September 2019, according to Chairman D.K. Sarraf.
* NBCCC (INDIA): Has secured orders worth 2.7 bln rupees from University Grant Commission.
* NTPC: Is aiming at an operating profit of 90 bln rupees and revenue of 740 bln rupees from its
operations in 2016-17 (Apr-Mar).
* OIL INDIA: The company's Apr-Jun net profit was down 33.5% on year at 4.94 bln rupees, whereas net sales fell 22.4% at 21.33 bln rupees.
* RELIANCE CAPITAL: Has raised 20 bln rupees through the issuance of bonds maturing in 5 and 10 years.
* RELIANCE INDUSTRIES: The company's Hazira manufacturing unit in Gujarat has come under the scanner of central revenue authorities for alleged excise duty evasion of at least 250 mln rupees.
* SPLM INFRA: The company said its debt will reduce significantly post the Cabinet decision that allows release of 75% of the arbitral awards against bank guarantee in cases where the award is challenged.
* SREI INFRASTRUCTURE FINANCE: Plans to raise up to 10 bln rupees through the public issue of nonconvertible debentures which will open for subscription on Wednesday and close on Sep 28.
* STATE BANK OF INDIA: Has raised 21 bln rupees through the first tranche of Basel-III compliant tier-I bonds at 9% coupon.
* SYNGENE INTERNATIONAL: Has commissioned a research and development centre in Bengaluru for Amgen, Inc.
* TATA CONSULTANCY SERVICES: The Mississippi state in the US has implemented its software
application for automating unemployment insurance system.
* TATA MOTORS: Has received orders from 25 state transport undertakings for 5,000 buses during AprAug.
* VEDANTA: Shareholders of Vedanta Resources Plc have approved the proposed merger of its
subsidiaries Cairn India and Vedanta.
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* ADITYA BIRLA FASHION AND RETAIL: Has forayed into the 70-bln-rupee men's premium innerwear and athleisure market by introducing a new range under the Van Heusen brand name.
* BERGER PAINTS: Will invest around 5 bln rupees towards capacity expansion and setting up new units over the next three years.
* BRITANNIA INDUSTRIES: The Delhi High Court has directed the company to withdraw its NutriChoice Digestive Zero biscuits in their current packaging from the market in four weeks after ITC alleged the former had copied the packaging of its Sunfeast Farmlite Digestive All Good biscuits.
* ENGINEERS INDIA: Has signed a contract with INDIAN OIL CORP to provide consultancy services on quality upgradation at six refineries operated by the state-owned oil refiner.
* ESSAR OIL: In a bid to expedite Rosneft's acquisition of 49% stake in the company, the legal teams of Essar Group and Russian oil major Rosneft are meeting later this week to sort out issues raised by Indian banks on the impact of US sanctions on Russian companies.
* ESSAR STEEL: Lenders will meet today to consider conversion of a portion of the company's 400 bln rupees debt into instruments carrying specific interest rates. Has requested banks to convert 122 bln rupees of loans into equity--90 bln rupees into preference shares
redeemable after 12-18 years, and 32 bln rupees into common equity.
* IL&FS ENGINEERING SERVICES: Has received an order worth 1.73 bln rupees from GAIL (India) for laying a 91 km pipeline at Kochi-Koottanad-Bengaluru- Mangaluru Pipeline Project Phase-II in Kerala.
* INDIAN HOTELS CO: The operator of Delhi's iconic Taj Mansingh hotel has challenged the single-judge order of Delhi High Court that allowed auctioning the property and declined requests to renew the operator's licence.
* INFO EDGE INDIA: The company, through its subsidiary, has invested 60 mln rupees in Green Leaves Consumer Services, the operator of stylist-on-demand marketplace bigstylist.com.
* INDIAN OIL CORP: Might hold 50% in a refinery being planned on the west coast if Saudi Arabia and Kuwait do not take up the offer of an equity stake.
* JINDAL STEEL & POWER: The company's steel business is seen improving from his month, Managing Director and Group Chief Executive Officer Ravi Uppal said.
* JUBILANT FOODWORKS: Morgan Stanley Mauritius Co has sold 430,845 shares, or 0.65% stake, in the company at 1,083.67 rupees per share, through a bulk deal on the National Stock Exchange. Aims to make profit from day one of operations from stores it plans to open during the financial year 2016-17 (Apr-Mar), Chief Investor Relations Officer Arvind Vats said.
* LARSEN & TOUBRO: Arm L&T Technology Services hopes to clock $1 bln in sales in the next three-four years, and in order to achieve this target, it will will be eyeing acquisitions with a revenue of $150 mln- $200 mln.
* LINC PEN & PLASTICS: Is aiming to double its revenue by 2019-20 (Apr-Mar), banking on the
company's new 270-mln-rupee manufacturing unit in Gujarat that is set to begin production from April, Managing Director Deepak Jalan said.
* LUPIN: Has received tentative approval from the US Food and Drug Administration for its generic of Allergan's Rapaflo capsules.
* MANGALORE REFINERY AND PETROCHEMICALS: Is fully geared to convert the refinery from BS4 to BS6 by September 2019, according to Chairman D.K. Sarraf.
* NBCCC (INDIA): Has secured orders worth 2.7 bln rupees from University Grant Commission.
* NTPC: Is aiming at an operating profit of 90 bln rupees and revenue of 740 bln rupees from its
operations in 2016-17 (Apr-Mar).
* OIL INDIA: The company's Apr-Jun net profit was down 33.5% on year at 4.94 bln rupees, whereas net sales fell 22.4% at 21.33 bln rupees.
* RELIANCE CAPITAL: Has raised 20 bln rupees through the issuance of bonds maturing in 5 and 10 years.
* RELIANCE INDUSTRIES: The company's Hazira manufacturing unit in Gujarat has come under the scanner of central revenue authorities for alleged excise duty evasion of at least 250 mln rupees.
* SPLM INFRA: The company said its debt will reduce significantly post the Cabinet decision that allows release of 75% of the arbitral awards against bank guarantee in cases where the award is challenged.
* SREI INFRASTRUCTURE FINANCE: Plans to raise up to 10 bln rupees through the public issue of nonconvertible debentures which will open for subscription on Wednesday and close on Sep 28.
* STATE BANK OF INDIA: Has raised 21 bln rupees through the first tranche of Basel-III compliant tier-I bonds at 9% coupon.
* SYNGENE INTERNATIONAL: Has commissioned a research and development centre in Bengaluru for Amgen, Inc.
* TATA CONSULTANCY SERVICES: The Mississippi state in the US has implemented its software
application for automating unemployment insurance system.
* TATA MOTORS: Has received orders from 25 state transport undertakings for 5,000 buses during AprAug.
* VEDANTA: Shareholders of Vedanta Resources Plc have approved the proposed merger of its
subsidiaries Cairn India and Vedanta.
