Daily Stock News Today – 09.11.2017
* ADANI PORTS AND SPECIAL ECONOMIC ZONE: Board will on Monday consider buying back its high-coupon, short-term maturity non-convertible debentures, which the company issued on a private placement basis.
* APOLLO TYRES: Clarifying on its name being mentioned in the database of Appleby, the tax haven-based firm which provided offshore account services in Bermuda, the company said this pertains to the funding plan for a failed acquisition attempt of US-based Cooper Tire & Rubber Co.
* BALKRISHNA INDUSTRIES: Board has approved the issue of bonus shares in the ratio of 1:1.
* BALRAMPUR CHINI MILLS: Will now focus more on its distillery business as ethanol prices have become more "remunerative" following the recent hike in prices of ethanol to be procured by oil marketing companies from sugar mills.
* BHARTI AIRTEL: Has revised the 499-rupee infinity plan for postpaid customers, adding unlimited free outgoing calls on national roaming, to the existing plan, making it more attractive for its clients. Qatar Foundation Endowment, the non-profit organisation wholly owned by the Gulf state's royal family, sold its 5% stake in the company in a bulk deal for 96 bln rupees.
* CORPORATION BANK: Plans to raise 5 bln rupees through issuance of Basel III-compliant tier-II bonds maturing in 10 years, and has invited bids from merchant bankers today.
* FEDERAL BANK: Has received the Reserve Bank of India's approval to open representative offices in Kuwait and Singapore.
* FILATEX INDIA: Has approved the closure of its manufacturing plant in Noida, Uttar Pradesh, to increase focus on its other two plants.
* FUTURE RETAIL: Plans to increase the contribution of fashion and private labels and cut costs as a percentage of sales once it fully takes over the premium retail stores of HyperCity.
* HCL INFOSYSTEMS: Has received a demand of 3.1 bln rupees from the principal commissioner of central goods and services tax, Noida.
* IDEA CELLULAR: Digital wallet service Idea Money has partnered with online platform redBus to provide bus ticketing service using the 1.8 mln retail points of the wallet.
* IDFC BANK: Has entered into a "strategic alliance" with mobile wallet major MobiKwik to launch a cobranded virtual Visa prepaid card.
* INGERSOLL RAND: The board has decided to pay a dividend of 3 rupees per share. Board has approved appointment of Vikas Goel as chief financial officer.
* INDIAN HOTELS CO: Tata Sons has raised its holding in the company by 1.78% to 29.79% pursuant to a rights issue.
* INFO EDGE INDIA: Will invest 50 mln rupees in its associate firm Happily Unmarried Marketing.
* IRB INFRASTRUCTURE DEVELOPERS: It will start bidding for hybrid annuity model and toll-operatetransfer projects of National Highways Authority of India a departure from focusing on build-operate-transfer projects only.
* JET AIRWAYS INDIA: Has offered a week-long sale on its international flight fares and is offering up to 30% discount till Nov 14.
* JINDAL STEEL & POWER: Said it was not involved in any attempt to avoid tax, as was alleged in a report by The Indian Express, based on the 'Paradise Papers' leak.
* JK LAKSHMI CEMENT: Plans to set up a 20 MW thermal power plant at Durg in Chhattisgarh to cut power cost for its operations in the Eastern region.
* JOST'S ENGINEERING CO: Board has approved a rights issue of 100 mln rupees at an issue price of 594 rupees a share.
* OIL AND NATURAL GAS CORP: ONGC Videsh expects its associated petroleum gas plant coming up at its loss-making fields acquired from Imperial Energy in Russia's Tomsk region to become operational by December 2018. ONGC Videsh is likely to acquire a 49% stake in Russia's Vankor cluster oilfields owned by Rosneft by February 2018.
* PRESTIGE ESTATES PROJECTS: Board has approved acquiring remaining 49% stake in Prestige
Pallavaram Ventures.
* PRICOL: Has signed a joint venture agreement with Zorg Industries (Hong Kong) to manufacture and market parking assistance systems in India.
* RELIANCE INFRASTRUCTURE: Is slated to win a 10 bln rupees order from Nuclear Power Corp of India after emerging as the lowest bidder for an engineering and construction contract for the Kudankulam plant.
* RELIANCE INDUSTRIES: Has raised 50 bln rupees through the issuance of bonds maturing in five years at a coupon of 7.17%.
* TAKE SOLUTIONS: The board approved an interim dividend of 0.30 rupee per share.
* TATA CONSULTANCY SERVICES: A new campus of the company in Thane was inaugurated by
Maharashtra Chief Minister Devendra Fadnavis.
* TECH MAHINDRA: The Securities and Exchange Board of India has disposed cases alleging violation of insider trading norms against Tech Mahindra Ltd and its four employees without penalty.
* TITAGARH WAGONS: Is set to introduce technology-driven track diagnostic vehicles, which would be manufactured by its joint venture with Mermec SpA of Italy.
* TITAN CO: Clarifying a media report on investment in a Singapore-based company, the company said its board has approved an investment of $500,000, not $5 mln as "erroneously mentioned" in the report.
* UJJIVAN FINANCIAL SERVICES: Morgan Stanley France SAS bought 1.1 mln shares or 0.9% stake in the company at 360 rupees per share in a bulk deal on the National Stock Exchange.
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* APOLLO TYRES: Clarifying on its name being mentioned in the database of Appleby, the tax haven-based firm which provided offshore account services in Bermuda, the company said this pertains to the funding plan for a failed acquisition attempt of US-based Cooper Tire & Rubber Co.
* BALKRISHNA INDUSTRIES: Board has approved the issue of bonus shares in the ratio of 1:1.
* BALRAMPUR CHINI MILLS: Will now focus more on its distillery business as ethanol prices have become more "remunerative" following the recent hike in prices of ethanol to be procured by oil marketing companies from sugar mills.
* BHARTI AIRTEL: Has revised the 499-rupee infinity plan for postpaid customers, adding unlimited free outgoing calls on national roaming, to the existing plan, making it more attractive for its clients. Qatar Foundation Endowment, the non-profit organisation wholly owned by the Gulf state's royal family, sold its 5% stake in the company in a bulk deal for 96 bln rupees.
* CORPORATION BANK: Plans to raise 5 bln rupees through issuance of Basel III-compliant tier-II bonds maturing in 10 years, and has invited bids from merchant bankers today.
* FEDERAL BANK: Has received the Reserve Bank of India's approval to open representative offices in Kuwait and Singapore.
* FILATEX INDIA: Has approved the closure of its manufacturing plant in Noida, Uttar Pradesh, to increase focus on its other two plants.
* FUTURE RETAIL: Plans to increase the contribution of fashion and private labels and cut costs as a percentage of sales once it fully takes over the premium retail stores of HyperCity.
* HCL INFOSYSTEMS: Has received a demand of 3.1 bln rupees from the principal commissioner of central goods and services tax, Noida.
* IDEA CELLULAR: Digital wallet service Idea Money has partnered with online platform redBus to provide bus ticketing service using the 1.8 mln retail points of the wallet.
* IDFC BANK: Has entered into a "strategic alliance" with mobile wallet major MobiKwik to launch a cobranded virtual Visa prepaid card.
* INGERSOLL RAND: The board has decided to pay a dividend of 3 rupees per share. Board has approved appointment of Vikas Goel as chief financial officer.
* INDIAN HOTELS CO: Tata Sons has raised its holding in the company by 1.78% to 29.79% pursuant to a rights issue.
* INFO EDGE INDIA: Will invest 50 mln rupees in its associate firm Happily Unmarried Marketing.
* IRB INFRASTRUCTURE DEVELOPERS: It will start bidding for hybrid annuity model and toll-operatetransfer projects of National Highways Authority of India a departure from focusing on build-operate-transfer projects only.
* JET AIRWAYS INDIA: Has offered a week-long sale on its international flight fares and is offering up to 30% discount till Nov 14.
* JINDAL STEEL & POWER: Said it was not involved in any attempt to avoid tax, as was alleged in a report by The Indian Express, based on the 'Paradise Papers' leak.
* JK LAKSHMI CEMENT: Plans to set up a 20 MW thermal power plant at Durg in Chhattisgarh to cut power cost for its operations in the Eastern region.
* JOST'S ENGINEERING CO: Board has approved a rights issue of 100 mln rupees at an issue price of 594 rupees a share.
* OIL AND NATURAL GAS CORP: ONGC Videsh expects its associated petroleum gas plant coming up at its loss-making fields acquired from Imperial Energy in Russia's Tomsk region to become operational by December 2018. ONGC Videsh is likely to acquire a 49% stake in Russia's Vankor cluster oilfields owned by Rosneft by February 2018.
* PRESTIGE ESTATES PROJECTS: Board has approved acquiring remaining 49% stake in Prestige
Pallavaram Ventures.
* PRICOL: Has signed a joint venture agreement with Zorg Industries (Hong Kong) to manufacture and market parking assistance systems in India.
* RELIANCE INFRASTRUCTURE: Is slated to win a 10 bln rupees order from Nuclear Power Corp of India after emerging as the lowest bidder for an engineering and construction contract for the Kudankulam plant.
* RELIANCE INDUSTRIES: Has raised 50 bln rupees through the issuance of bonds maturing in five years at a coupon of 7.17%.
* TAKE SOLUTIONS: The board approved an interim dividend of 0.30 rupee per share.
* TATA CONSULTANCY SERVICES: A new campus of the company in Thane was inaugurated by
Maharashtra Chief Minister Devendra Fadnavis.
* TECH MAHINDRA: The Securities and Exchange Board of India has disposed cases alleging violation of insider trading norms against Tech Mahindra Ltd and its four employees without penalty.
* TITAGARH WAGONS: Is set to introduce technology-driven track diagnostic vehicles, which would be manufactured by its joint venture with Mermec SpA of Italy.
* TITAN CO: Clarifying a media report on investment in a Singapore-based company, the company said its board has approved an investment of $500,000, not $5 mln as "erroneously mentioned" in the report.
* UJJIVAN FINANCIAL SERVICES: Morgan Stanley France SAS bought 1.1 mln shares or 0.9% stake in the company at 360 rupees per share in a bulk deal on the National Stock Exchange.
