DAILY STOCKS ALERT – 28.02.2017
* ABG SHIPYARD: The promoters of the debt-laden company may bring in a strategic investor into the company, similar to what they did with another group company, ABG Cement, in September.
* ADANI ENTERPRISES: Parent Adani Group plans to expand its share in the ship-fuelling market by leveraging the ports it has on India's east and west coast.
* BHARAT FINANCIAL INCLUSION: Said report of any merger talks between the company and RBL Bank is market speculation.
* CENTRAL BANK OF INDIA: The lender's board has approved raising up to 5 bln rupees through tier-II bonds.
* COAL INDIA: Board of wholly-owned subsidiary South Eastern Coalfields has approved the buyback of 150,443 of its fully paid shares for an aggregate amount not exceeding 12 bln rupees.
* DEN NETWORKS: Launched its online live streaming platform DEN TV+, exclusively for DEN cable and broadband subscribers for download on all Android and iOS platforms.
* EVEREST INDUSTRIES: SBI Mutual Fund has sold 803,756 shares, or 5.22% stake in the company at 188.25
rupees apiece.
* GOA CARBON: Has temporarily shut its plant in Goa from Monday. The company said it has sufficient inventory to service orders in hand.
* IDEA CELLULAR: American Private equity investment firm Providence Equity Partners will sell 120 mln shares, or 3.3% stake, in Idea cellular Ltd in a block deal today.
* ITC: The company has replaced Atul Chand with Vikas Gupta as the chief executive of its Wills Lifestyle and John Players stores.
* LAKSHMI VILAS BANK: The lender has roped in Centrum group, a leading financial services company, which will now manage the bank's wealthy clients.
* LARSEN & TOUBRO: Life Insurance Corp of India plans to buy 5% more in the company for 65 bln rupees at current market prices.
* NHPC: Signed on Tuesday a power purchase pact with the Odisha government for the upcoming Teesta-IV project in West Bengal and Teesta-V power station in Sikkim.
* OIL AND NATURAL GAS CORP: In a bid to create an integrated public sector oil and gas major, the government is considering the merger of HINDUSTAN PETROLEUM CORP or BHARAT PETROLEUM CORP into the company.
* RANBAXY LABORATORIES: Japanese firm Daiichi Sankyo has again asked the Delhi High Court to block any stake sales by Ranbaxy's former promoters Malvinder and Shivinder Singh as it battles to recover more than 25 bln rupees from an arbitration award.
* RELIANCE INDUSTRIES: The company's subsidiary Reliance Jio Infocomm has awarded a contract to the USbased AirWire Technologies to offer the latter's India manufactured connected car device to customers in India.
* RURAL ELECTRIFICATION CORP: Plans to raise at least 5 bln rupees through the issuance of bonds maturing in one year and six months, and has invited bids from merchant bankers by 1115 IST on Wednesday.
* STATE BANK OF TRAVANCORE: Has left marginal cost of funds-based lending rates unchanged for March.
* STEEL AUTHORITY OF INDIA: The state-owned company plans to ramp up production at couple of its new facilities, including those in Burnpur, Bokaro, and Rourkela. It will also add new products to suit customer needs.
* TECH MAHINDRA: The company-owned automotive design firm Pininfarina has inked a pact worth around 4.60 bln rupees with Hong-Kong-listed Hybrid Kinetic Group for developing an electric car.
* TRANSFORMERS AND RECTIFIERS (INDIA): Has received an order worth 1.53 bln rupees from Gujarat Energy Transmission Corp for 39 transformers and reactors.
* UNION BANK: Executive Director Vinod Kathuria said the lender aims at a single-digit gross non-performing assets ratio in 2017-18 (Apr-Mar) against 11.7% as of Dec 31. Kathuria said the lender will avail of a 7.21-blnrupee govt infusion by March-end.
* VARUN BEVERAGES: Has raised 3 bln rupees by issuing non-convertible debentures.
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Free Commodity Tips : Join our Whatsapp No : 9094047040* ABG SHIPYARD: The promoters of the debt-laden company may bring in a strategic investor into the company, similar to what they did with another group company, ABG Cement, in September.
* ADANI ENTERPRISES: Parent Adani Group plans to expand its share in the ship-fuelling market by leveraging the ports it has on India's east and west coast.
* BHARAT FINANCIAL INCLUSION: Said report of any merger talks between the company and RBL Bank is market speculation.
* CENTRAL BANK OF INDIA: The lender's board has approved raising up to 5 bln rupees through tier-II bonds.
* COAL INDIA: Board of wholly-owned subsidiary South Eastern Coalfields has approved the buyback of 150,443 of its fully paid shares for an aggregate amount not exceeding 12 bln rupees.
* DEN NETWORKS: Launched its online live streaming platform DEN TV+, exclusively for DEN cable and broadband subscribers for download on all Android and iOS platforms.
* EVEREST INDUSTRIES: SBI Mutual Fund has sold 803,756 shares, or 5.22% stake in the company at 188.25
rupees apiece.
* GOA CARBON: Has temporarily shut its plant in Goa from Monday. The company said it has sufficient inventory to service orders in hand.
* IDEA CELLULAR: American Private equity investment firm Providence Equity Partners will sell 120 mln shares, or 3.3% stake, in Idea cellular Ltd in a block deal today.
* ITC: The company has replaced Atul Chand with Vikas Gupta as the chief executive of its Wills Lifestyle and John Players stores.
* LAKSHMI VILAS BANK: The lender has roped in Centrum group, a leading financial services company, which will now manage the bank's wealthy clients.
* LARSEN & TOUBRO: Life Insurance Corp of India plans to buy 5% more in the company for 65 bln rupees at current market prices.
* NHPC: Signed on Tuesday a power purchase pact with the Odisha government for the upcoming Teesta-IV project in West Bengal and Teesta-V power station in Sikkim.
* OIL AND NATURAL GAS CORP: In a bid to create an integrated public sector oil and gas major, the government is considering the merger of HINDUSTAN PETROLEUM CORP or BHARAT PETROLEUM CORP into the company.
* RANBAXY LABORATORIES: Japanese firm Daiichi Sankyo has again asked the Delhi High Court to block any stake sales by Ranbaxy's former promoters Malvinder and Shivinder Singh as it battles to recover more than 25 bln rupees from an arbitration award.
* RELIANCE INDUSTRIES: The company's subsidiary Reliance Jio Infocomm has awarded a contract to the USbased AirWire Technologies to offer the latter's India manufactured connected car device to customers in India.
* RURAL ELECTRIFICATION CORP: Plans to raise at least 5 bln rupees through the issuance of bonds maturing in one year and six months, and has invited bids from merchant bankers by 1115 IST on Wednesday.
* STATE BANK OF TRAVANCORE: Has left marginal cost of funds-based lending rates unchanged for March.
* STEEL AUTHORITY OF INDIA: The state-owned company plans to ramp up production at couple of its new facilities, including those in Burnpur, Bokaro, and Rourkela. It will also add new products to suit customer needs.
* TECH MAHINDRA: The company-owned automotive design firm Pininfarina has inked a pact worth around 4.60 bln rupees with Hong-Kong-listed Hybrid Kinetic Group for developing an electric car.
* TRANSFORMERS AND RECTIFIERS (INDIA): Has received an order worth 1.53 bln rupees from Gujarat Energy Transmission Corp for 39 transformers and reactors.
* UNION BANK: Executive Director Vinod Kathuria said the lender aims at a single-digit gross non-performing assets ratio in 2017-18 (Apr-Mar) against 11.7% as of Dec 31. Kathuria said the lender will avail of a 7.21-blnrupee govt infusion by March-end.
* VARUN BEVERAGES: Has raised 3 bln rupees by issuing non-convertible debentures.
