Daily Stock News Today – 27.11.2017
* ADITYA BIRLA MONEY: The Securities and Exchange Board of India has levied a penalty of 1 mln rupees on the company.
* ASHOK LEYLAND: Increased its stake in Optare Plc to 98.31% from 75.11%.
* AUROBINDO PHARMA: Is looking at inorganic growth opportunities in Eastern Europe and other geographies for deeper market penetration and to secure newer technologies.
* AUTOLINE INDUSTRIES: Subsidiary Autoline Industries Parks has received the environment ministry's clearance for its proposed 104-acre township project in Pune.
* AXIS BANK: Has launched an instant international payment services using Ripple's enterprise blockchain technology solutions for retail and corporate customers.
* BANK OF BARODA: Is planning to focus on supply chain financing, where it will provide loans to micro, small and medium enterprises associated with large corporates based on credit rating of the latter.
* BASF INDIA: Was in talks to combine its oil and gas unit Wintershall with DEA, the energy group owned by Russian billionaire Mikhail Fridman, as the German group expands its core plastics and chemicals operations.
* BHARTI AIRTEL: Bid to acquire 40 mln customers of loss-making Tata Teleservices through a merger may hit a regulatory hurdle.
* CANARA BANK: Employees have requested the Centre not to consider cross merger of smaller public sector banks having high non-performing assets.
* CEAT: Launched premium radial tyre 'Zoom Rax X1' for premium 200-400cc sports motorcycles.
* CUPID: Has received an order worth 13.6 mln rupees from United Nation Population Fund to supply female condoms to Malawi, Africa.
* DALMIA BHARAT: The group has submitted a binding offer to acquire Nagpur-based Murli Industries, which is facing bankruptcy proceedings in the National Company Law Tribunal.
* DREDGING CORP OF INDIA: Is holding discussions with the employees' union to call off the indefinite strike they are expected to go on or from Dec 6.
* FIBERWEB INDIA: Will issue 360,000 warrants convertible into equity shares to promoter and director Bhavesh Sheth.
* FORTIS HEALTHCARE: The National Pharmaceutical Pricing Authority has asked the company to submit bills for the treatment given to dengue patient Adya Singh, after her parents accused the hospital of grossly overcharging them.
* GAMMON INFRASTRUCTURE PROJECTS: Promoter Gammon Power sold 15 mln shares or 1.6% stake in the company at 2.75 rupees per share in a bulk deal on the National Stock Exchange.
* GATI: IFCI Venture Capital Funds has invoked 805,000 shares in the company, pledged by promoter TCI FINANCE.
* GHCL: A fund owned by DSP Blackrock Mutual Fund has bought 950,528 shares or almost 1% stake in the company at 272 rupees a share, through a bulk deal on the National Stock Exchange.
* GOLDEN TOBACCO: Is putting its Vile Parle factory in Mumbai on sale for a reserve price of 10-12 bln rupees.
* GTL INFRASTRUCTURE: Has allotted 72.35 mln shares on conversion of 11,107 foreign currency convertible bonds worth $1,000 each at a conversion price of 10 rupees per share.
* INDIA TOURISM DEVELOPMENT CORP: The government sought bids from merchant bankers to advise on the sale of the company's stake in Ranchi Ashok Bihar Hotel Corp and for the long-term lease of Hotel Pondicherry Ashok. Is seeking to work closely with state-level tourism bodies in an attempt to give a boost to the tourism industry.
* INDO RAMA SYNTHETICS INDIA: Board has approved issuance of 12% optionally convertible unsecured debentures worth up to 200 mln rupees to promoter.
* INDOSOLAR: The board has approved issuing 5.21 mln shares of face value 10 rupees each at par to Greenlite Lighting Corp, a promoter group firm, against conversion of an unsecured loan of 52.05 mln rupees.
* JAIPRAKASH ASSOCIATES: Has fixed Tuesday as the effective date for restructuring of its $150 mln foreign currency convertible bonds maturing this year.
* JINDAL STAINLESS: The company, Gitanjali Infratech and WELSPUN INDIA will invest 16.40 bln rupees to set up three private industrial parks in Odisha.
* JINDAL STEEL & POWER: India's global tender for steel rails, part of a $130 bln overhaul of its railways, could help the company win up to 20% of the work.
* JSW STEEL: The expert appraisal committee of the ministry of environment, forest and climate change has instructed the company to make a fresh application, seeking environment clearance for its string of projects proposed in Odisha.
* MAHINDRA & MAHINDRA: Has bid for the remaining 9,500 electric vehicle tender to be supplied to Energy Efficiency Services. Mahindra Powerol, a division of the company, will aim to strengthen its presence in the mid and higher kVA diesel genset segment by launching its 250/320 kVA range diesel gensets.
- Is eyeing the American car market with its South Korean subsidiary exploring possibilities in the sports utility vehicle segment.
* MUTHOOT FINANCE: Has launched a new scheme targeted at small and medium enterprises.
* NESTLE INDIA: Board will meet on Dec 4 to consider declaration of third interim dividend.
* NTPC: Plans to acquire operational coal-based power stations but only those built with Indian, not Chinese, equipment and with lower generation costs, an official said.
* OIL & NATURAL GAS CORP: The government plans to offer 60% stake in government-owned companies' existing oil and gas fields to private players, and the company on Friday wrote a letter to the Prime Minister opposing any such move.
- Has sought more than doubling of natural gas prices to help bring significant discoveries in Krishna
Godavari basin and Gulf of Kutch to production.
* PANACEA BIOTEC: India could have a vaccine for dengue by end-2019.
* PIRAMAL ENTERPRISES: The board has approved allotment of 225,000 shares at 2,688 rupees apiece on conversion of 5,625 compulsorily convertible debentures.
* RELIANCE INDUSTRIES: The Delhi High Court did not grant an interim stay on further investigation by Delhi government's Anti-Corruption Bureau against the company in a case of alleged irregularities in pricing of natural gas.
* SADBHAV ENGINEERING: ICICI Prudential Mutual Fund, along with Eastspring Investments (Singapore), on Wednesday, sold 215,374 shares or 0.13% stake in the company.
* SATIN CREDITCARE NETWORK: Is in the process of raising 2.05 bln rupees from INDUSIND BANK, as well as from existing overseas shareholders, in a combination of equity and fixed income securities to augment capital base and support growth.
* SEL MANUFACTURING CO: Received notice that STATE BANK OF INDIA has filed resolution proceedings against the company before the National Company Law Tribunal, Chandigarh.
* SRI ADHIKARI BROTHERS TELEVISION NETWORK: STATE BANK OF INDIA sold 2.01 mln shares or 5.8% stake in the company in a bulk deal on the National Stock Exchange and BSE.
- CENTRAL BANK OF INDIA has sold 600,000 shares at 14.49 rupees per share in the company in a bulk deal on the National Stock Exchange.
* STATE BANK OF INDIA: Is exploring ways to expand loan growth to sectors such as railways, roads and renewable energy, which are attracting higher public spending, Chairman Rajnish Kumar said.
* STEEL EXCHANGE INDIA: Has clarified on an short message service tip floating online, stating it may win a 3-blnrupee order in two days.
* SUN PHARMACEUTICAL INDUSTRIES: Subsidiary Sun Pharmaceutical Industries Inc recalled two lots of Riomet oral solution in the US due to microbial contamination.
* TALWALKARS BETTER VALUE FITNESS: Will initially invest 150 mln rupees in the joint venture with wellness expert Mickey Mehta.
* TORRENT PHARMACEUTICALS: On Friday, the company raised 3 bln rupees via 180-day commercial papers, at a coupon of 6.85%.
* TV VISION: STATE BANK OF INDIA sold 1.6 mln shares or 4.6% stake in the company through a bulk deal on the National Stock Exchange and BSE. CENTRAL BANK OF INDIA sold 600,000 shares or 1.72% stake in the company in a bulk deal on NSE.
* VALIANT COMMUNICATIONS: Has received orders worth 50 mln rupees to supply its communication solutions.
* YES BANK: Is looking to set up a $1 bln medium term notes programme, subsequent to an approval by the board and shareholders to raise 200 bln rupees worth of debt, the lender said.
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* ASHOK LEYLAND: Increased its stake in Optare Plc to 98.31% from 75.11%.
* AUROBINDO PHARMA: Is looking at inorganic growth opportunities in Eastern Europe and other geographies for deeper market penetration and to secure newer technologies.
* AUTOLINE INDUSTRIES: Subsidiary Autoline Industries Parks has received the environment ministry's clearance for its proposed 104-acre township project in Pune.
* AXIS BANK: Has launched an instant international payment services using Ripple's enterprise blockchain technology solutions for retail and corporate customers.
* BANK OF BARODA: Is planning to focus on supply chain financing, where it will provide loans to micro, small and medium enterprises associated with large corporates based on credit rating of the latter.
* BASF INDIA: Was in talks to combine its oil and gas unit Wintershall with DEA, the energy group owned by Russian billionaire Mikhail Fridman, as the German group expands its core plastics and chemicals operations.
* BHARTI AIRTEL: Bid to acquire 40 mln customers of loss-making Tata Teleservices through a merger may hit a regulatory hurdle.
* CANARA BANK: Employees have requested the Centre not to consider cross merger of smaller public sector banks having high non-performing assets.
* CEAT: Launched premium radial tyre 'Zoom Rax X1' for premium 200-400cc sports motorcycles.
* CUPID: Has received an order worth 13.6 mln rupees from United Nation Population Fund to supply female condoms to Malawi, Africa.
* DALMIA BHARAT: The group has submitted a binding offer to acquire Nagpur-based Murli Industries, which is facing bankruptcy proceedings in the National Company Law Tribunal.
* DREDGING CORP OF INDIA: Is holding discussions with the employees' union to call off the indefinite strike they are expected to go on or from Dec 6.
* FIBERWEB INDIA: Will issue 360,000 warrants convertible into equity shares to promoter and director Bhavesh Sheth.
* FORTIS HEALTHCARE: The National Pharmaceutical Pricing Authority has asked the company to submit bills for the treatment given to dengue patient Adya Singh, after her parents accused the hospital of grossly overcharging them.
* GAMMON INFRASTRUCTURE PROJECTS: Promoter Gammon Power sold 15 mln shares or 1.6% stake in the company at 2.75 rupees per share in a bulk deal on the National Stock Exchange.
* GATI: IFCI Venture Capital Funds has invoked 805,000 shares in the company, pledged by promoter TCI FINANCE.
* GHCL: A fund owned by DSP Blackrock Mutual Fund has bought 950,528 shares or almost 1% stake in the company at 272 rupees a share, through a bulk deal on the National Stock Exchange.
* GOLDEN TOBACCO: Is putting its Vile Parle factory in Mumbai on sale for a reserve price of 10-12 bln rupees.
* GTL INFRASTRUCTURE: Has allotted 72.35 mln shares on conversion of 11,107 foreign currency convertible bonds worth $1,000 each at a conversion price of 10 rupees per share.
* INDIA TOURISM DEVELOPMENT CORP: The government sought bids from merchant bankers to advise on the sale of the company's stake in Ranchi Ashok Bihar Hotel Corp and for the long-term lease of Hotel Pondicherry Ashok. Is seeking to work closely with state-level tourism bodies in an attempt to give a boost to the tourism industry.
* INDO RAMA SYNTHETICS INDIA: Board has approved issuance of 12% optionally convertible unsecured debentures worth up to 200 mln rupees to promoter.
* INDOSOLAR: The board has approved issuing 5.21 mln shares of face value 10 rupees each at par to Greenlite Lighting Corp, a promoter group firm, against conversion of an unsecured loan of 52.05 mln rupees.
* JAIPRAKASH ASSOCIATES: Has fixed Tuesday as the effective date for restructuring of its $150 mln foreign currency convertible bonds maturing this year.
* JINDAL STAINLESS: The company, Gitanjali Infratech and WELSPUN INDIA will invest 16.40 bln rupees to set up three private industrial parks in Odisha.
* JINDAL STEEL & POWER: India's global tender for steel rails, part of a $130 bln overhaul of its railways, could help the company win up to 20% of the work.
* JSW STEEL: The expert appraisal committee of the ministry of environment, forest and climate change has instructed the company to make a fresh application, seeking environment clearance for its string of projects proposed in Odisha.
* MAHINDRA & MAHINDRA: Has bid for the remaining 9,500 electric vehicle tender to be supplied to Energy Efficiency Services. Mahindra Powerol, a division of the company, will aim to strengthen its presence in the mid and higher kVA diesel genset segment by launching its 250/320 kVA range diesel gensets.
- Is eyeing the American car market with its South Korean subsidiary exploring possibilities in the sports utility vehicle segment.
* MUTHOOT FINANCE: Has launched a new scheme targeted at small and medium enterprises.
* NESTLE INDIA: Board will meet on Dec 4 to consider declaration of third interim dividend.
* NTPC: Plans to acquire operational coal-based power stations but only those built with Indian, not Chinese, equipment and with lower generation costs, an official said.
* OIL & NATURAL GAS CORP: The government plans to offer 60% stake in government-owned companies' existing oil and gas fields to private players, and the company on Friday wrote a letter to the Prime Minister opposing any such move.
- Has sought more than doubling of natural gas prices to help bring significant discoveries in Krishna
Godavari basin and Gulf of Kutch to production.
* PANACEA BIOTEC: India could have a vaccine for dengue by end-2019.
* PIRAMAL ENTERPRISES: The board has approved allotment of 225,000 shares at 2,688 rupees apiece on conversion of 5,625 compulsorily convertible debentures.
* RELIANCE INDUSTRIES: The Delhi High Court did not grant an interim stay on further investigation by Delhi government's Anti-Corruption Bureau against the company in a case of alleged irregularities in pricing of natural gas.
* SADBHAV ENGINEERING: ICICI Prudential Mutual Fund, along with Eastspring Investments (Singapore), on Wednesday, sold 215,374 shares or 0.13% stake in the company.
* SATIN CREDITCARE NETWORK: Is in the process of raising 2.05 bln rupees from INDUSIND BANK, as well as from existing overseas shareholders, in a combination of equity and fixed income securities to augment capital base and support growth.
* SEL MANUFACTURING CO: Received notice that STATE BANK OF INDIA has filed resolution proceedings against the company before the National Company Law Tribunal, Chandigarh.
* SRI ADHIKARI BROTHERS TELEVISION NETWORK: STATE BANK OF INDIA sold 2.01 mln shares or 5.8% stake in the company in a bulk deal on the National Stock Exchange and BSE.
- CENTRAL BANK OF INDIA has sold 600,000 shares at 14.49 rupees per share in the company in a bulk deal on the National Stock Exchange.
* STATE BANK OF INDIA: Is exploring ways to expand loan growth to sectors such as railways, roads and renewable energy, which are attracting higher public spending, Chairman Rajnish Kumar said.
* STEEL EXCHANGE INDIA: Has clarified on an short message service tip floating online, stating it may win a 3-blnrupee order in two days.
* SUN PHARMACEUTICAL INDUSTRIES: Subsidiary Sun Pharmaceutical Industries Inc recalled two lots of Riomet oral solution in the US due to microbial contamination.
* TALWALKARS BETTER VALUE FITNESS: Will initially invest 150 mln rupees in the joint venture with wellness expert Mickey Mehta.
* TORRENT PHARMACEUTICALS: On Friday, the company raised 3 bln rupees via 180-day commercial papers, at a coupon of 6.85%.
* TV VISION: STATE BANK OF INDIA sold 1.6 mln shares or 4.6% stake in the company through a bulk deal on the National Stock Exchange and BSE. CENTRAL BANK OF INDIA sold 600,000 shares or 1.72% stake in the company in a bulk deal on NSE.
* VALIANT COMMUNICATIONS: Has received orders worth 50 mln rupees to supply its communication solutions.
* YES BANK: Is looking to set up a $1 bln medium term notes programme, subsequent to an approval by the board and shareholders to raise 200 bln rupees worth of debt, the lender said.
