Daily Stock News Today – 02.08.2017
* ABG SHIPYARD: Bankruptcy proceedings against the company were approved by the Ahmedabad bench of National Company Law Tribunal on Tuesday.
* BALRAMPUR CHINI MILLS: Sugar output in Uttar Pradesh is seen rising over 13% to 10 mln tn in 2017-18 (OctSep) from 8.79 mln tn in the current year that ends September, Managing Director Vivek Saraogi said.
* BSE: SEBI has approved Dhivendra Swarup as chairman on board of directors of the company with effect from Monday. SEBI has given its "no-objection" to the exchange to act as facilitator in the non-competitive bidding in the auction of government securities and treasury bills.
* COAL INDIA: Production fell 0.3% on year to 36.64 mln tn in July, below the monthly target of 37.66 mln tn.
* DWEKAM INDUSTRIES: Said JK PAPER will not acquire any stake in the company.
* EICHER MOTORS: Total commercial vehicle sales were at 4,359 units in July as against 4,374 units a year ago.
* EIH: Its Oberoi hotel in New Delhi, earlier scheduled to open in April 2018, is now likely to open in January 2018 as progress on the site has been "very satisfactory".
* GUJARAT STATE FERTILIZERS & CHEMICALS: Has restarted production at its ammonia IV plant at Vadodara in Gujarat.
* HERO MOTOCORP: Total sales in July rose 17% on year to 623,269 units.
* HINDUSTAN COPPER: The government has offered to sell 4% of its stake in the company, along with a 4% greenshoe option, through an offer for sale of shares today.
* JSW STEEL: Reported Apr-Jun consolidated net profit of 6.3 bln rupees, down 44.1% on year. Total revenue from operations was at 159.8 bln rupees, up 24% on year.
* LUPIN: Has received the US Food and Drug Administration's final approval for Fluocinonide Topical ointment, a generic version of County Line Pharmaceuticals LLC's Lidex ointment.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: Has raised 2 bln rupees through the issuance of bonds maturing in two years.
* MAX VENTURES AND INDUSTRIES: Has taken up three projects--one residential and two for office spaces--as part of its plan to enter the real estate sector.
* MMTC: Aims to double its topline in five years by revamping its business.
* NIRMAL LIFESTYLE: Has entered into a joint development programme with L&T Realty, a subsidiary of LARSEN & TOUBRO, to develop a 3-mln-sq ft residential project in Mulund, Mumbai.
* NTPC: With a focus on renewable energy, the company wants to increase its presence in solar power generation space.
* POWER GRID CORP OF INDIA: Reported Apr-Jun net profit of 20.5 bln rupees, down 13.9% on year. Revenue from operations was at 71.8 bln rupees, up 17.4% on year.
* PUNJAB NATIONAL BANK: The board has approved raising equity capital worth up to 30 bln rupees through a follow-on public offer, a rights issue, a qualified institutional placement, employee stock option scheme or employee stock purchase scheme.
* REDINGTON: Expects capital expenditure for its subsidiary, ProConnect Supply Chain Solutions, to be around 3 bln rupees over three years, Managing Director Raj Shankar said.
* RELIANCE DEFENCE AND ENGINEERING: The board has appointed Nikhil Jain as chief financial officer, effective today.
* RELIGARE ENTERPRISES: Commercial lending company Clix Capital is likely to buy Religare Housing Development Finance from the company for about 6 bln rupees.
* SHILPI CABLE TECHNOLOGIES: The National Company Law Appellate Tribunal has set aside the insolvency order passed against the company by National Company Law Tribunal for default in repayment of dues.
* SML ISUZU: Sold 788 vehicles in July, down 42% on year.
* STEEL STRIPS WHEELS: Total wheel rim sales in July were flat on year at 1.26 mln units.
* SWAN ENERGY: Subsidiary Swan LNG has executed an engineering, procurement and construction contract worth 4.6 bln rupees with Black & Veatch.
* TATA CHEMICALS: Indonesia-based Indorama Corp is in advanced talks to acquire the Haldia fertilizer unit of the company for upwards of 10 bln rupees.
* TATA STEEL: Tata Steel UK has completed the sale of its 42- and 84-inch pipe mills in Hartlepool to Liberty House Group.
* TVS MOTOR CO: Total sales in July rose 9% on year to 271,171 units.
* UTTAM GALVA STEELS: The National Company Law Appellate Tribunal has reversed the insolvency resolution process against the company initiated by National Company Law Tribunal.
* VOLTAS: Board of directors has not approved any plans to buy Sharp India's air conditioner manufacturing plant in Pune.
* WIPRO: Has launched a multi-million-dollar innovation centre in Mountain View, California.
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* ABG SHIPYARD: Bankruptcy proceedings against the company were approved by the Ahmedabad bench of National Company Law Tribunal on Tuesday.
* BALRAMPUR CHINI MILLS: Sugar output in Uttar Pradesh is seen rising over 13% to 10 mln tn in 2017-18 (OctSep) from 8.79 mln tn in the current year that ends September, Managing Director Vivek Saraogi said.
* BSE: SEBI has approved Dhivendra Swarup as chairman on board of directors of the company with effect from Monday. SEBI has given its "no-objection" to the exchange to act as facilitator in the non-competitive bidding in the auction of government securities and treasury bills.
* COAL INDIA: Production fell 0.3% on year to 36.64 mln tn in July, below the monthly target of 37.66 mln tn.
* DWEKAM INDUSTRIES: Said JK PAPER will not acquire any stake in the company.
* EICHER MOTORS: Total commercial vehicle sales were at 4,359 units in July as against 4,374 units a year ago.
* EIH: Its Oberoi hotel in New Delhi, earlier scheduled to open in April 2018, is now likely to open in January 2018 as progress on the site has been "very satisfactory".
* GUJARAT STATE FERTILIZERS & CHEMICALS: Has restarted production at its ammonia IV plant at Vadodara in Gujarat.
* HERO MOTOCORP: Total sales in July rose 17% on year to 623,269 units.
* HINDUSTAN COPPER: The government has offered to sell 4% of its stake in the company, along with a 4% greenshoe option, through an offer for sale of shares today.
* JSW STEEL: Reported Apr-Jun consolidated net profit of 6.3 bln rupees, down 44.1% on year. Total revenue from operations was at 159.8 bln rupees, up 24% on year.
* LUPIN: Has received the US Food and Drug Administration's final approval for Fluocinonide Topical ointment, a generic version of County Line Pharmaceuticals LLC's Lidex ointment.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: Has raised 2 bln rupees through the issuance of bonds maturing in two years.
* MAX VENTURES AND INDUSTRIES: Has taken up three projects--one residential and two for office spaces--as part of its plan to enter the real estate sector.
* MMTC: Aims to double its topline in five years by revamping its business.
* NIRMAL LIFESTYLE: Has entered into a joint development programme with L&T Realty, a subsidiary of LARSEN & TOUBRO, to develop a 3-mln-sq ft residential project in Mulund, Mumbai.
* NTPC: With a focus on renewable energy, the company wants to increase its presence in solar power generation space.
* POWER GRID CORP OF INDIA: Reported Apr-Jun net profit of 20.5 bln rupees, down 13.9% on year. Revenue from operations was at 71.8 bln rupees, up 17.4% on year.
* PUNJAB NATIONAL BANK: The board has approved raising equity capital worth up to 30 bln rupees through a follow-on public offer, a rights issue, a qualified institutional placement, employee stock option scheme or employee stock purchase scheme.
* REDINGTON: Expects capital expenditure for its subsidiary, ProConnect Supply Chain Solutions, to be around 3 bln rupees over three years, Managing Director Raj Shankar said.
* RELIANCE DEFENCE AND ENGINEERING: The board has appointed Nikhil Jain as chief financial officer, effective today.
* RELIGARE ENTERPRISES: Commercial lending company Clix Capital is likely to buy Religare Housing Development Finance from the company for about 6 bln rupees.
* SHILPI CABLE TECHNOLOGIES: The National Company Law Appellate Tribunal has set aside the insolvency order passed against the company by National Company Law Tribunal for default in repayment of dues.
* SML ISUZU: Sold 788 vehicles in July, down 42% on year.
* STEEL STRIPS WHEELS: Total wheel rim sales in July were flat on year at 1.26 mln units.
* SWAN ENERGY: Subsidiary Swan LNG has executed an engineering, procurement and construction contract worth 4.6 bln rupees with Black & Veatch.
* TATA CHEMICALS: Indonesia-based Indorama Corp is in advanced talks to acquire the Haldia fertilizer unit of the company for upwards of 10 bln rupees.
* TATA STEEL: Tata Steel UK has completed the sale of its 42- and 84-inch pipe mills in Hartlepool to Liberty House Group.
* TVS MOTOR CO: Total sales in July rose 9% on year to 271,171 units.
* UTTAM GALVA STEELS: The National Company Law Appellate Tribunal has reversed the insolvency resolution process against the company initiated by National Company Law Tribunal.
* VOLTAS: Board of directors has not approved any plans to buy Sharp India's air conditioner manufacturing plant in Pune.
* WIPRO: Has launched a multi-million-dollar innovation centre in Mountain View, California.
