STOCKS NEWS TODAY – 08.09.2016
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* ASHOK LEYLAND: Has ended its eight-year partnership with Nissan Motor by buying out the latter's stake in three joint venture companies.
* BOSCH: Will double its installed capacity in the solar energy space in India by December.
* BRITANNIA INDUSTRIES: Will challenge the Delhi High Court's order directing it to withdraw
NutriChoice Digestive Zero biscuits in its current packaging after ITC sued the company alleging it of copying the packaging of Sunfeast Farmlite Digestive All Good biscuits.
* CAIRN INDIA: The company and its partner OIL & NATURAL GAS CORP will get a 10-year extension for the Barmer oil and gas block in Rajasthan beyond 2020, when the current production-sharing contract ends.
* CHENNAI PETROLEUM CORP: Is considering feasibility of setting up a 9-mln-tn per annum refinery in south Tamil Nadu.
* FINANCIAL TECHNOLOGIES INDIA: Metropolitan Stock Exchange of India is planning to withdraw the technology pact with the company in the next six to nine months.
* GAIL INDIA: Reported a net profit of 13.35 bln rupees in Apr-Jun, up 244.0% on year, while total
income fell 14.1% to 108.52 bln rupees.
* GTL: The Reserve Bank of India has asked lenders to the company to conduct a forensic audit of its
accounts before approving a one-time settlement scheme, sources said.
* HDFC BANK: Is likely to issue infrastructure bonds maturing in 10 years and may set the coupon on the bonds at 7.95%, a source said.
* HINDALCO INDUSTRIES: Arm Novelis' indirect subsidiary Novelis Corp plans to issue aggregate principal amount of senior notes worth $1.5 bln on a private placement basis.
* INFOSYS: Has signed a memorandum of understanding with Postgraduate Institute of Medical
Education and Research, Chandigarh, to develop a remote patient monitoring system. In a massive
reorganisation, the company plans to split itself into 12-15 smaller business units with revenue of $500- $700 mln from the current structure of four large verticals.
* LAKSHMI VILAS BANK: Private equity players, including TPG Capital Management, General Atlantic, Capital International and Chrys Capital, are in separate talks with the bank to buy up to 20% stake by investing up to $150 mln.
* MOTHERSON SUMI SYSTEMS: Hungarian subsidiary MSSL Manufacturing Hungary Kft would acquire the automotive business unit of local company Abraham es Tarsa Kft for 10 mln euro.
* OIL & NATURAL GAS CORP: Reported a net profit of 42.3 bln rupees in Apr-Jun, down 21.2% on year, and total income of 177.85 bln rupees, down 21.4%.
* RELIANCE INDUSTRIES: Chairman Mukesh Ambani said telecom subsidiary Reliance Jio Infocomm will not lose money and the return on capital is expected to be in high-teens of around 18-19% over the investment period.
The Department of Telecommunications has asked Reliance Jio Infocomm to approach the Telecom
Regulatory Authority of India regarding its grievance that rival companies have not provided it with
sufficient points to connect with their network.
* WIPRO: Will withdraw its service support and hand over the operations of Project Panchdeep, an
automated government healthcare administration system, to Employees' State Insurance Corp due to
non-payment of dues.
* YES BANK: Launched a qualified institutional placement of shares issue on Wednesday and set the
floor price at 1,371.84 rupees per share.
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* ASHOK LEYLAND: Has ended its eight-year partnership with Nissan Motor by buying out the latter's stake in three joint venture companies.
* BOSCH: Will double its installed capacity in the solar energy space in India by December.
* BRITANNIA INDUSTRIES: Will challenge the Delhi High Court's order directing it to withdraw
NutriChoice Digestive Zero biscuits in its current packaging after ITC sued the company alleging it of copying the packaging of Sunfeast Farmlite Digestive All Good biscuits.
* CAIRN INDIA: The company and its partner OIL & NATURAL GAS CORP will get a 10-year extension for the Barmer oil and gas block in Rajasthan beyond 2020, when the current production-sharing contract ends.
* CHENNAI PETROLEUM CORP: Is considering feasibility of setting up a 9-mln-tn per annum refinery in south Tamil Nadu.
* FINANCIAL TECHNOLOGIES INDIA: Metropolitan Stock Exchange of India is planning to withdraw the technology pact with the company in the next six to nine months.
* GAIL INDIA: Reported a net profit of 13.35 bln rupees in Apr-Jun, up 244.0% on year, while total
income fell 14.1% to 108.52 bln rupees.
* GTL: The Reserve Bank of India has asked lenders to the company to conduct a forensic audit of its
accounts before approving a one-time settlement scheme, sources said.
* HDFC BANK: Is likely to issue infrastructure bonds maturing in 10 years and may set the coupon on the bonds at 7.95%, a source said.
* HINDALCO INDUSTRIES: Arm Novelis' indirect subsidiary Novelis Corp plans to issue aggregate principal amount of senior notes worth $1.5 bln on a private placement basis.
* INFOSYS: Has signed a memorandum of understanding with Postgraduate Institute of Medical
Education and Research, Chandigarh, to develop a remote patient monitoring system. In a massive
reorganisation, the company plans to split itself into 12-15 smaller business units with revenue of $500- $700 mln from the current structure of four large verticals.
* LAKSHMI VILAS BANK: Private equity players, including TPG Capital Management, General Atlantic, Capital International and Chrys Capital, are in separate talks with the bank to buy up to 20% stake by investing up to $150 mln.
* MOTHERSON SUMI SYSTEMS: Hungarian subsidiary MSSL Manufacturing Hungary Kft would acquire the automotive business unit of local company Abraham es Tarsa Kft for 10 mln euro.
* OIL & NATURAL GAS CORP: Reported a net profit of 42.3 bln rupees in Apr-Jun, down 21.2% on year, and total income of 177.85 bln rupees, down 21.4%.
* RELIANCE INDUSTRIES: Chairman Mukesh Ambani said telecom subsidiary Reliance Jio Infocomm will not lose money and the return on capital is expected to be in high-teens of around 18-19% over the investment period.
The Department of Telecommunications has asked Reliance Jio Infocomm to approach the Telecom
Regulatory Authority of India regarding its grievance that rival companies have not provided it with
sufficient points to connect with their network.
* WIPRO: Will withdraw its service support and hand over the operations of Project Panchdeep, an
automated government healthcare administration system, to Employees' State Insurance Corp due to
non-payment of dues.
* YES BANK: Launched a qualified institutional placement of shares issue on Wednesday and set the
floor price at 1,371.84 rupees per share.
