Daily Stock News Today – 08.09.2017
* 63 MOON TECHNOLOGIES: The National Company Law Tribunal has asked the Centre to place on record an interim report by the Serious Fraud Investigation Office in connection with the alleged National Spot Exchange scam and related matters in two weeks.
* ADHUNIK INDUSTRIES: Bankers have declared the working capital loans of the company as non-performing assets at a joint lenders' forum held on Aug 30.
* ADITYA BIRLA CAPITAL: Shares of the company will move out of the trade-for-trade segment from Sep 15, and will be traded under the rolling segment, said the National Stock Exchange and the BSE in their respective circulars.
* ASHOK LEYLAND: Plans to increase its focus on light commercial vehicles and launch one product in the segment every quarter, Managing Director and Chief Executive Officer Vinod K. Dasari said.
* BANK OF INDIA: Will cut most of its lending rates based on marginal cost of funds by 5-10 basis points, with effect from Sunday.
* BHARAT FINANCIAL INCLUSION: Is close to finalising a buyer in what could be an all-stock deal.
* BHARAT PETROLEUM CORP: Is all set to become a Maharatna company.
* BHARTI AIRTEL: Is set to take on Reliance Jio Infocomm by launching, as early as next week, voice services using the same 4G technology employed by the newcomer.
* BIOCON: Malaysia-based subsidiary Biocon Sdn Bhd has got good manufacturing practices certificate from Health Products Regulatory Authority, Ireland, for its insulin manufacturing facility.
* BOMBAY DYEING & MANUFACTURING CO: Has sold 19.61 ha land at Dhoksanghvi Taluka, near Pune, for 135.7 mln rupees.
* CANARA BANK: Has cut its marginal cost of funds-based lending rates by 5-15 basis points across all tenures, effective Thursday, according to data on the lender's website.
* CCL PRODUCTS: The Reserve Bank of India has notified that foreign portfolio investors can invest up to 40% of the paid-up capital in the company under the portfolio investment scheme, up from 24% earlier.
* GTPL HATHWAY: The central bank said foreign portfolio investors can now invest up to 49% in the company, up from 24% earlier.
* HAVELLS INDIA: Has set itself an ambitious target of more than tripling its revenue to 200 bln rupees in five years, Chairman Anil Rai Gupta said.
* JET AIRWAYS (INDIA): Will start services on new routes and increase frequency on some routes during Sep-Oct to capitalise on higher demand in the upcoming festival season.
* JINDAL WORLDWIDE: Has acquired 8.4 mln shares of Balaji Weft for 84.2 mln rupees, after which it holds 60.44% share capital in the latter.
* MAHINDRA & MAHINDRA: Has said automobile companies have requested the government to change the rate of cess on cars under the goods and services tax once the festival season is over, to prevent any hit on demand.
- Mahindra Lifespace Developers, a subsidiary of the company, has incorporated Mahindra Happinest Developers as a wholly-owned subsidiary.
* MARUTI SUZUKI INDIA: Expects a double-digit growth in volumes in the current financial year (Apr-Mar), Senior Executive Director (Marketing & Sales) R.S. Kalsi said.
* MONSANTO INDIA: Is selling its branded cotton seeds business in India to Tierra Agrotech, although the company will remain invested in farm segments such as corn seeds, crop protection, vegetables and Bollgard II technologies.
* ORIENT GREEN POWER: Merger talks between IL&FS Wind Energy and the company have hit a roadblock because wind energy tariffs have plunged in auctions conducted after the negotiations began early this year.
* PUNJ LLOYD: Has been given the letter awarding it the 8.7-bln-rupee contract for remaining canal work in Nagpur and Chandrapur districts from NBCC (INDIA).
* SPML INFRA: Plans to focus on engineering, procurement and construction contracts only rather than built-ownoperate-transfer projects.
* TATA MOTORS: Is optimistic of a rise in sales volume from this month, Chief Executive Officer and Managing Director Guenter Butschek has said at the 57th annual convention of Society of Indian Automobile Manufacturers.
- Workers at the company's Jamshedpur plant continued with their agitation for the third consecutive day on Thursday over non-payment of the revised wages, hitting production of commercial vehicles.
- Arm Jaguar Land Rover has announced that all its new car models will go electric from the year 2020.
* TATA CONSULTANCY SERVICES: Has partnered the power services business of the US-based GE to upgrade the latter's data platform--Services Data Lake.
* TVS MOTOR CO: Will launch Akula motorcycle, which the company has made under a strategic partnership with BMW Motorrad, in Oct-Mar. Has acquired the remaining 81% stake in TVS Motors Services for 46.2 mln rupees.
* UCO BANK: Has initiated the process of selling bad loans worth 24.20 bln rupees from 27 accounts, a tender document on its website showed.
* VISTA PHARMACEUTICALS: Its formulations facility in Telangana got the US Food and Drug Administration's establishment inspection report, confirming the closure of inspection.
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* ADHUNIK INDUSTRIES: Bankers have declared the working capital loans of the company as non-performing assets at a joint lenders' forum held on Aug 30.
* ADITYA BIRLA CAPITAL: Shares of the company will move out of the trade-for-trade segment from Sep 15, and will be traded under the rolling segment, said the National Stock Exchange and the BSE in their respective circulars.
* ASHOK LEYLAND: Plans to increase its focus on light commercial vehicles and launch one product in the segment every quarter, Managing Director and Chief Executive Officer Vinod K. Dasari said.
* BANK OF INDIA: Will cut most of its lending rates based on marginal cost of funds by 5-10 basis points, with effect from Sunday.
* BHARAT FINANCIAL INCLUSION: Is close to finalising a buyer in what could be an all-stock deal.
* BHARAT PETROLEUM CORP: Is all set to become a Maharatna company.
* BHARTI AIRTEL: Is set to take on Reliance Jio Infocomm by launching, as early as next week, voice services using the same 4G technology employed by the newcomer.
* BIOCON: Malaysia-based subsidiary Biocon Sdn Bhd has got good manufacturing practices certificate from Health Products Regulatory Authority, Ireland, for its insulin manufacturing facility.
* BOMBAY DYEING & MANUFACTURING CO: Has sold 19.61 ha land at Dhoksanghvi Taluka, near Pune, for 135.7 mln rupees.
* CANARA BANK: Has cut its marginal cost of funds-based lending rates by 5-15 basis points across all tenures, effective Thursday, according to data on the lender's website.
* CCL PRODUCTS: The Reserve Bank of India has notified that foreign portfolio investors can invest up to 40% of the paid-up capital in the company under the portfolio investment scheme, up from 24% earlier.
* GTPL HATHWAY: The central bank said foreign portfolio investors can now invest up to 49% in the company, up from 24% earlier.
* HAVELLS INDIA: Has set itself an ambitious target of more than tripling its revenue to 200 bln rupees in five years, Chairman Anil Rai Gupta said.
* JET AIRWAYS (INDIA): Will start services on new routes and increase frequency on some routes during Sep-Oct to capitalise on higher demand in the upcoming festival season.
* JINDAL WORLDWIDE: Has acquired 8.4 mln shares of Balaji Weft for 84.2 mln rupees, after which it holds 60.44% share capital in the latter.
* MAHINDRA & MAHINDRA: Has said automobile companies have requested the government to change the rate of cess on cars under the goods and services tax once the festival season is over, to prevent any hit on demand.
- Mahindra Lifespace Developers, a subsidiary of the company, has incorporated Mahindra Happinest Developers as a wholly-owned subsidiary.
* MARUTI SUZUKI INDIA: Expects a double-digit growth in volumes in the current financial year (Apr-Mar), Senior Executive Director (Marketing & Sales) R.S. Kalsi said.
* MONSANTO INDIA: Is selling its branded cotton seeds business in India to Tierra Agrotech, although the company will remain invested in farm segments such as corn seeds, crop protection, vegetables and Bollgard II technologies.
* ORIENT GREEN POWER: Merger talks between IL&FS Wind Energy and the company have hit a roadblock because wind energy tariffs have plunged in auctions conducted after the negotiations began early this year.
* PUNJ LLOYD: Has been given the letter awarding it the 8.7-bln-rupee contract for remaining canal work in Nagpur and Chandrapur districts from NBCC (INDIA).
* SPML INFRA: Plans to focus on engineering, procurement and construction contracts only rather than built-ownoperate-transfer projects.
* TATA MOTORS: Is optimistic of a rise in sales volume from this month, Chief Executive Officer and Managing Director Guenter Butschek has said at the 57th annual convention of Society of Indian Automobile Manufacturers.
- Workers at the company's Jamshedpur plant continued with their agitation for the third consecutive day on Thursday over non-payment of the revised wages, hitting production of commercial vehicles.
- Arm Jaguar Land Rover has announced that all its new car models will go electric from the year 2020.
* TATA CONSULTANCY SERVICES: Has partnered the power services business of the US-based GE to upgrade the latter's data platform--Services Data Lake.
* TVS MOTOR CO: Will launch Akula motorcycle, which the company has made under a strategic partnership with BMW Motorrad, in Oct-Mar. Has acquired the remaining 81% stake in TVS Motors Services for 46.2 mln rupees.
* UCO BANK: Has initiated the process of selling bad loans worth 24.20 bln rupees from 27 accounts, a tender document on its website showed.
* VISTA PHARMACEUTICALS: Its formulations facility in Telangana got the US Food and Drug Administration's establishment inspection report, confirming the closure of inspection.
