Daily Stock News Today – 28.11.2017
* ADANI ENTERPRISE: The group's Carmichael coal mine project in Australia may not receive a $900-mln loan after the Queensland government said it will exercise its veto to not support the financial assistance.
* BSE: Will merge two sub groups--XC and XD--into a new segment X from next month in order to streamline classification of securities listed on its platform.
* GAIL INDIA: Received notification from Russia's Gazprom PJSC that it plans to start deliveries of liquefied natural gas through a contract the company was trying to renegotiate.
* HATSUN AGRO PRODUCTS: Has opened two Hatsun Daily outlets in Mumbai's Mulund and Bhiwandi areas.
* HINDALCO INDUSTRIES: Has raised the prices of its primary aluminium products by over 1% effective Saturday.
* HUBTOWN: Along with the Wadhwa Group are developing a sea-facing residential project at Prabhadevi, Mumbai, named 25 South: Bespoke homes by the bay.
* IDBI BANK: The board of the bank has granted in-principle approval for the sale of 1.5% stake or 7.42 mln shares, held by it in National Stock Exchange.
* INDIAN OIL CORP: May not pass on the entire cost burden of Bharat Stage-VI grade fuel to the consumers, though there will be a marginal increase in price.
* INFOSYS: Has entered into a partnership with Hewlett Packard Enterprise to offer a joint end-to-end mainframe modernisation solution. To set up a design and innovation hub in Rhode Island, US, that will provide employment to 500 US workers over the next five years.
* ITC: To invest around 100 bln rupees in the coming years to strengthen its business in the food processing sector.
* LARSEN & TOUBRO: Expects to sell its electrical unit and spin out its road assets trust by March.
* MAHINDRA CIE AUTOMOTIVE: Is on the lookout for acquiring an auto component company in Korea.
* NEW DELHI TELEVISION: Delhi High Court has directed the Income Tax Department not to pass a final order in the reassessment proceedings initiated by it for a second time against two promoters of the company for assessment years 2009-10.
* NTPC: Has been facing problems at several of its power projects due to issues related to equipment supplied by BHARAT HEAVY ELECTRICALS.
* OIL & NATURAL GAS CORP: The company's officers association has sought Prime Minister Narendra Modi's intervention to stall oil ministry's plan to sell the company's producing oil and gas fields.
* PATEL ENGINEERING: Has sold 5-acre property in Mumbai for 3.8 bln rupees to Lodha Developers, through its subsidiary, Patel Land Developers.
* PNB HOUSING FINANCE: PUNJAB NATIONAL BANK will sell 9.99 mln shares or nearly 6% stake in the company through an offer for sale today and Wednesday.
* PVR: Denied allegations by real estate firm Elan Group of entering into an initial agreement only to perk up share price, without any intention of honouring it.
* QUESS CORP: Has completed the acquisition of 51% stake in Tata Business Support Services. Has signed an agreement to acquire 51% stake worth 20 mln rupees in Trimax Smart Infraprojects on Nov 24.
* RALLIS INDIA: Franklin Templeton Mutual Fund bought 1.78 mln shares or 0.91% stake in the company at 230 rupees per share through a bulk deal on the BSE.
* RBL BANK: Has increased its stake in microlender Swadhaar Finserve to 60.48% for an undisclosed sum and now possess rights to increase it to 100%.
* RELIANCE COMMUNICATIONS: Said it was surprised by the untimely and premature petition filed against the company by China Development Bank before the National Company Law Tribunal.
* RELIANCE INDUSTRIES: Has resumed the sale of its 4G featurephone, which comes bundled with a Reliance Jio SIM.
* RURAL ELECTRIFICATION CORP: Plans to issue bonds maturing in five years and has invited bids from merchant bankers from 1100 IST to 1115 IST today.
* SATIN CREDITCARE NETWORK: Will raise up to 2.05 bln rupees through a mix of equity and debt.
* TATA POWER CO: Subsidiary Tata Power Systems has commissioned 300 KW rooftop solar project in Rohini, Delhi.
* VARDHMAN INDUSTRIES: Corporate Insolvency Resolution Process has been initiated under the provisions of Insolvency and Bankruptcy Code by an order of National Company Law Tribunal.
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* BSE: Will merge two sub groups--XC and XD--into a new segment X from next month in order to streamline classification of securities listed on its platform.
* GAIL INDIA: Received notification from Russia's Gazprom PJSC that it plans to start deliveries of liquefied natural gas through a contract the company was trying to renegotiate.
* HATSUN AGRO PRODUCTS: Has opened two Hatsun Daily outlets in Mumbai's Mulund and Bhiwandi areas.
* HINDALCO INDUSTRIES: Has raised the prices of its primary aluminium products by over 1% effective Saturday.
* HUBTOWN: Along with the Wadhwa Group are developing a sea-facing residential project at Prabhadevi, Mumbai, named 25 South: Bespoke homes by the bay.
* IDBI BANK: The board of the bank has granted in-principle approval for the sale of 1.5% stake or 7.42 mln shares, held by it in National Stock Exchange.
* INDIAN OIL CORP: May not pass on the entire cost burden of Bharat Stage-VI grade fuel to the consumers, though there will be a marginal increase in price.
* INFOSYS: Has entered into a partnership with Hewlett Packard Enterprise to offer a joint end-to-end mainframe modernisation solution. To set up a design and innovation hub in Rhode Island, US, that will provide employment to 500 US workers over the next five years.
* ITC: To invest around 100 bln rupees in the coming years to strengthen its business in the food processing sector.
* LARSEN & TOUBRO: Expects to sell its electrical unit and spin out its road assets trust by March.
* MAHINDRA CIE AUTOMOTIVE: Is on the lookout for acquiring an auto component company in Korea.
* NEW DELHI TELEVISION: Delhi High Court has directed the Income Tax Department not to pass a final order in the reassessment proceedings initiated by it for a second time against two promoters of the company for assessment years 2009-10.
* NTPC: Has been facing problems at several of its power projects due to issues related to equipment supplied by BHARAT HEAVY ELECTRICALS.
* OIL & NATURAL GAS CORP: The company's officers association has sought Prime Minister Narendra Modi's intervention to stall oil ministry's plan to sell the company's producing oil and gas fields.
* PATEL ENGINEERING: Has sold 5-acre property in Mumbai for 3.8 bln rupees to Lodha Developers, through its subsidiary, Patel Land Developers.
* PNB HOUSING FINANCE: PUNJAB NATIONAL BANK will sell 9.99 mln shares or nearly 6% stake in the company through an offer for sale today and Wednesday.
* PVR: Denied allegations by real estate firm Elan Group of entering into an initial agreement only to perk up share price, without any intention of honouring it.
* QUESS CORP: Has completed the acquisition of 51% stake in Tata Business Support Services. Has signed an agreement to acquire 51% stake worth 20 mln rupees in Trimax Smart Infraprojects on Nov 24.
* RALLIS INDIA: Franklin Templeton Mutual Fund bought 1.78 mln shares or 0.91% stake in the company at 230 rupees per share through a bulk deal on the BSE.
* RBL BANK: Has increased its stake in microlender Swadhaar Finserve to 60.48% for an undisclosed sum and now possess rights to increase it to 100%.
* RELIANCE COMMUNICATIONS: Said it was surprised by the untimely and premature petition filed against the company by China Development Bank before the National Company Law Tribunal.
* RELIANCE INDUSTRIES: Has resumed the sale of its 4G featurephone, which comes bundled with a Reliance Jio SIM.
* RURAL ELECTRIFICATION CORP: Plans to issue bonds maturing in five years and has invited bids from merchant bankers from 1100 IST to 1115 IST today.
* SATIN CREDITCARE NETWORK: Will raise up to 2.05 bln rupees through a mix of equity and debt.
* TATA POWER CO: Subsidiary Tata Power Systems has commissioned 300 KW rooftop solar project in Rohini, Delhi.
* VARDHMAN INDUSTRIES: Corporate Insolvency Resolution Process has been initiated under the provisions of Insolvency and Bankruptcy Code by an order of National Company Law Tribunal.
