Daily Stock News Today – 22.08.2017
* ADVANCED ENZYME TECHNOLOGIES: Wholly-owned arm Advanced Enzymes
Europe has completed the acquisition of Germany-based Evoxx Technologies GmbH.
* ALOK INDUSTRIES: A distressed asset investment platform by PIRAMAL
ENTERPRISES and Bain Capital Credit, and AION Capital Partners, have shown interest in
buying a stake in the company.
* BHARTI AIRTEL: Is in advanced talks with handset makers to introduce a 4G smartphone
for around 2,500 rupees.
* BIOCON: The board has approved the transfer of its biosimilar business to its step-down
arm Biocon Biologics India on a slump-sale business.
* CENTRAL BANK OF INDIA: Has cut the interest rate on savings account deposits with
balance of up to 5 mln rupees, by 50 basis points to 3.5%.
* CHOLAMANDALAM INVESTMENT AND FINANCE CO: Plans to raise 1.5 bln rupees
through bonds maturing in two years at a coupon of 7.50%.
* COAL INDIA: Management of the company has said it cannot afford the extent of salary
hike its unions are asking, because its fund position would not permit.
* DR REDDY'S LABORATORIES: Promoter Dr Reddy's Holdings has bought 406,500
shares, or 0.24% stake, of the company in a block deal on BSE at 1,985 rupees a piece.
* HCL INFOSYSTEMS: Has signed a distributor agreement with Apple India for distribution
of iPhone and other Apple products.
* ICICI BANK: The bank, a major lender to Unimark Remedies, is in talks with Edelweiss
Asset Reconstruction Co to sell its loans.
* IDEA CELLULAR: National Co Law Tribunal's Ahmedabad bench on Monday ordered the
company to convene a shareholders-cum-creditors meet on Oct 12, for the purpose of voting
for its proposed $23-bln merger with Vodafone India.
* INDIAN HOTELS CO: Has decided to pump at least 30 bln rupees for expansion of the
brand in the next four to five years.
* INFOSYS: The days ahead for emloyees, post the exit of Vishal Sikka as chief executive
officer, could be "unsettling" as attention on the company is likely to remain intense, interim
CEO Pravin Rao said in a letter to staff.
- Former chief financial officer V. Balakrishnan has demanded the resignation of Chairman
R. Seshasayee and Co-Chairman Ravi Venkatesan from the board of directors.
- SEBI is looking into the company's stock price movement after its chief executive officer
Vishal Sikka's resignation. It has also asked stock exchanges about the disclosures from the
company relating to recent events.
- Investors of the company's American Depository Receipts have written to SEBI,
complaining about the role of founders in criticising the decisions taken by the board of
directors.
* JAYPEE INFRATECH: Those who have booked apartments with the company may get
"client" tag cover in insolvency case.
* LUPIN: Has received an establishment inspection report from the US Food and Drug
Administration for its Aurangabad facility, clearing the plant after an inspection carried out in
April.
* MANAPPURAM FINANCE: Quinag Acquisition (FPI) has bought 15.1 mln shares of the
company in a bulk deal on the BSE at 94.73 rupees a piece.
* MCNALLY BHARAT ENGINEERING CO: Has got an order worth 5.14 bln rupees for
engineering, procurement and construction of an 8-mtpa coal handling plant.
* NTPC: Has sought shareholders' approval to raise 150 bln rupees via non-convertible bonds
on private placement basis domestically.
* OIL AND NATURAL GAS CORP: The board of the company on Monday gave its "inprinciple"
approval to acquire the government's 51.11% in HINDUSTAN PETROLEUM
CORP.
* POLSON: Promoters Amol Kapadia and Sushila Kapadia will sell an aggregate of 8.83%
stake in the company through an offer for sale.
* RAMSARUP INDUSTRIES: The Kolkata bench of the National Co Law Tribunal on
Monday asked the Centre and other secured creditors of the company, to implead as
respondents in the company's insolvency application.
* SUBEX: The board has approved restructuring the company's business.
* TATA MOTORS: Is focussed on bringing its Indian business back to profitability by the end
of current fiscal in March, Chief Executive Officer and Managing Director Guenter Butschek
said.
* USHA MARTIN: The board has not decided on rasing funds at its weekend meeting after
the National Co Law Tribunal ordered the company on Friday to leave its shareholding
unchanged.
* V-GUARD INDUSTRIES: Has acquired 672,047 equity shares of GUTS Electro-Mech,
Hyderabad, accounting for 49.43% of the paid-up capital.
* VARDHMAN INDUSTRIES: Has decided to move National Co Law Tribunal under
Insolvency and Bankruptcy Code, 2016 as the company has defaulted in loan repayment to
STATE BANK OF INDIA and IDBI BANK.
CLICK HERE
*********************************************************************************
* ADVANCED ENZYME TECHNOLOGIES: Wholly-owned arm Advanced Enzymes
Europe has completed the acquisition of Germany-based Evoxx Technologies GmbH.
* ALOK INDUSTRIES: A distressed asset investment platform by PIRAMAL
ENTERPRISES and Bain Capital Credit, and AION Capital Partners, have shown interest in
buying a stake in the company.
* BHARTI AIRTEL: Is in advanced talks with handset makers to introduce a 4G smartphone
for around 2,500 rupees.
* BIOCON: The board has approved the transfer of its biosimilar business to its step-down
arm Biocon Biologics India on a slump-sale business.
* CENTRAL BANK OF INDIA: Has cut the interest rate on savings account deposits with
balance of up to 5 mln rupees, by 50 basis points to 3.5%.
* CHOLAMANDALAM INVESTMENT AND FINANCE CO: Plans to raise 1.5 bln rupees
through bonds maturing in two years at a coupon of 7.50%.
* COAL INDIA: Management of the company has said it cannot afford the extent of salary
hike its unions are asking, because its fund position would not permit.
* DR REDDY'S LABORATORIES: Promoter Dr Reddy's Holdings has bought 406,500
shares, or 0.24% stake, of the company in a block deal on BSE at 1,985 rupees a piece.
* HCL INFOSYSTEMS: Has signed a distributor agreement with Apple India for distribution
of iPhone and other Apple products.
* ICICI BANK: The bank, a major lender to Unimark Remedies, is in talks with Edelweiss
Asset Reconstruction Co to sell its loans.
* IDEA CELLULAR: National Co Law Tribunal's Ahmedabad bench on Monday ordered the
company to convene a shareholders-cum-creditors meet on Oct 12, for the purpose of voting
for its proposed $23-bln merger with Vodafone India.
* INDIAN HOTELS CO: Has decided to pump at least 30 bln rupees for expansion of the
brand in the next four to five years.
* INFOSYS: The days ahead for emloyees, post the exit of Vishal Sikka as chief executive
officer, could be "unsettling" as attention on the company is likely to remain intense, interim
CEO Pravin Rao said in a letter to staff.
- Former chief financial officer V. Balakrishnan has demanded the resignation of Chairman
R. Seshasayee and Co-Chairman Ravi Venkatesan from the board of directors.
- SEBI is looking into the company's stock price movement after its chief executive officer
Vishal Sikka's resignation. It has also asked stock exchanges about the disclosures from the
company relating to recent events.
- Investors of the company's American Depository Receipts have written to SEBI,
complaining about the role of founders in criticising the decisions taken by the board of
directors.
* JAYPEE INFRATECH: Those who have booked apartments with the company may get
"client" tag cover in insolvency case.
* LUPIN: Has received an establishment inspection report from the US Food and Drug
Administration for its Aurangabad facility, clearing the plant after an inspection carried out in
April.
* MANAPPURAM FINANCE: Quinag Acquisition (FPI) has bought 15.1 mln shares of the
company in a bulk deal on the BSE at 94.73 rupees a piece.
* MCNALLY BHARAT ENGINEERING CO: Has got an order worth 5.14 bln rupees for
engineering, procurement and construction of an 8-mtpa coal handling plant.
* NTPC: Has sought shareholders' approval to raise 150 bln rupees via non-convertible bonds
on private placement basis domestically.
* OIL AND NATURAL GAS CORP: The board of the company on Monday gave its "inprinciple"
approval to acquire the government's 51.11% in HINDUSTAN PETROLEUM
CORP.
* POLSON: Promoters Amol Kapadia and Sushila Kapadia will sell an aggregate of 8.83%
stake in the company through an offer for sale.
* RAMSARUP INDUSTRIES: The Kolkata bench of the National Co Law Tribunal on
Monday asked the Centre and other secured creditors of the company, to implead as
respondents in the company's insolvency application.
* SUBEX: The board has approved restructuring the company's business.
* TATA MOTORS: Is focussed on bringing its Indian business back to profitability by the end
of current fiscal in March, Chief Executive Officer and Managing Director Guenter Butschek
said.
* USHA MARTIN: The board has not decided on rasing funds at its weekend meeting after
the National Co Law Tribunal ordered the company on Friday to leave its shareholding
unchanged.
* V-GUARD INDUSTRIES: Has acquired 672,047 equity shares of GUTS Electro-Mech,
Hyderabad, accounting for 49.43% of the paid-up capital.
* VARDHMAN INDUSTRIES: Has decided to move National Co Law Tribunal under
Insolvency and Bankruptcy Code, 2016 as the company has defaulted in loan repayment to
STATE BANK OF INDIA and IDBI BANK.
