Daily Stock News Today – 18.12.2017
* AAREY DRUGS & PHARMACEUTICALS: Board has approved raising up to 300 mln rupees by issuing shares through a qualified institutional placement.
* AXIS BANK: Bain Capital has taken a $450-mln bridge loan from JP Morgan & Chase to finance its multi-billion bet on the bank.
* BAJAJ HINDUSTHAN SUGAR: SBI CAP Trustee Co has sold 119.99 mln shares or 10.6% stake in the company.
* BANK OF BARODA: The All India Bank Employees' Association and the All India Bank Officer Association have called for a strike on Dec 27.
* BANK OF INDIA: Is seeking new bids for selling its stake in STCI Finance, as bids in the previous round were below its expectations.
* BHARAT FINANCIAL INCLUSION: Has bought 0.36% stake or 500,000 shares of the company from Morgan Stanley Mauritius Co at 992.50 rupees per share, in a block deal on BSE.
* BHARTI AIRTEL: Societe Generale on Friday bought 3 mln shares or 0.075% stake in the company from Morgan Stanley France SAS at 527.25 rupees per share in a block deal on the BSE.
- The company and Reliance Jio Infocomm are venturing out of their core domain into the multi-billion-dollar cloud computing services market as part of the strategy to explore options to diversify revenue streams. The company may have to pay a fine for the alleged violation of rules on using Aadhaar for its electronic know-your-customer verification process.
* CASTROL INDIA: Shareholders of the company have approved the proposal for the issue of one bonus share for every one share held.
* CIPLA: Has received a tentative approval from US Food and Drug Administration for Darunavir Hydrate tablet.
* CLARIS LIFESCIENCES: Has approved a proposal to voluntarily delist shares from the BSE.
* CONTAINER CORP OF INDIA: Will develop 1,000 acre of land for Integrated Logistics and Manufacturing zone at Machillpatnam in Andhra Pradesh.
* DISH TV INDIA: Ministry of Information and Broadcasting has approved the merger of Videocon D2H with the company.
* FORTIS HEALTHCARE: The National Pharmaceutical Pricing Authority said the company's hospital at Gurugram made a margin of as much as 343% on essential drugs when treating seven-year-old Adya Singh for dengue shock syndrome. Pensionskasse des Bundes Publica, the federal employees' pension fund of Switzerland, bought 2.86 mln shares of the company at 135.81 rupees apiece in a bulk deal on the National Stock Exchange.
* GAIL INDIA: Will enter into pacts with aluminum and steel majors in Odisha for supply of natural gas from Dec 2019. A quadripartite agreement has been signed between National Skill Development Corp, GAIL, Skill Development Institute and Labour Net to promote and enhance skill development activities related to Urja Ganga Gas Pipeline Project.
* GREENPLY INDUSTRIES: Reliance Mutual Fund bought 0.81% stake or 990,000 shares of the company at 335 rupees apiece, in a bulk deal on BSE.
* HINDUSTAN UNILEVER: Private equity firm KKR is in exclusive talks to buy the company's margarine and spreads business after outbidding other buyout firms, in a deal expected to top $7 bln.
* HOUSING DEVELOPMENT FINANCE CORPORATION: Is looking to raise funds that would be used to maintain its stake in HDFC BANK.
* ICICI BANK: Has bought 8 mln shares or 0.1% stake in the bank from Morgan Stanley France SAS at 306.75 rupees per share in a block deal on the BSE.
* ICICI LOMBARD GENERAL INSURANCE CO: The Consumer Dispute Redressal Forum of Central Mumbai has ordered the company to pay the insurance claim amount of 1 mln rupees, which the insurance claim had wrongly repudiated, to the consumer.
* INDIABULLS REAL ESTATE: In alliance with Mandarin Oriental Hotel Group as hotel partner for its residential development in London's Hanover Square.
* INDIAN HOTELS CO: Re-entry into its crown property, Taj Mansingh, may not be smooth though the company is gearing up for aggressive bidding in the New Delhi Municipal Council auction next month.
* ION EXCHANGE INDIA: Plans to increase exports, set up another unit to make resins at Ankleshwar, and an overseas assembly unit in Saudi Arabia.
* J BHASIN LEASING: Promoters of the company have made an exit offer to public shareholders wherein they will acquire 5.65% stake or 169,600 shares at 8.36 rupees apiece.
* JAIPRAKASH ASSOCIATES: The Supreme Court has granted the company time till Jan 25 to deposit 1.25 bln rupees it was asked to deposit by Dec 31 in a plea by homebuyers against the company's subsidiary Jaypee Infratech. Plans to sell all its five hospitality assets under the brand Jaypee Hotels and Resorts at an estimated rate of 25 bln rupees.
* JMC PROJECTS (INDIA): Has won two orders for 7.9 bln rupees.
* JSW HOLDINGS: The Reserve Bank of India notified that foreign portfolio investors can invest up to 49% of the paidup capital in the company under the portfolio investment scheme, against a cap of 24% earlier.
* KESORAM INDUSTRIES: Board has approved a preferential issue of shares, which could include issue of convertible warrants of up to 3.5 bln rupees, to promoter group company Manav Investment and Trading Co.
* LARSEN & TOUBRO INFOTECH: Has completed acquisition of Syncordis SA, Luxembourg, along with subsidiaries Syncordis Support Services, Luxembourg, Syncordis Ltd UK and Syncordis SARL France.
* MAHINDRA & MAHINDRA: The board of the company's wholly-owned subsidiary SsangYong Motor Co will meet early 2018 to take a call on the latter's entry in the US market.
* MAHINDRA AND MAHINDRA FINANCIAL SERVICES: Has raised over 10 bln rupees by selling shares to financial institutions earlier this month, is considering strategic acquisitions across its various verticals.
* MANAPPURAM FINANCE: Managing Director and Chief Executive Officer V.P. Nandkumar raised his stake in the company to 28.43% from 28.39% earlier by purchasing 301,500 shares from the open market.
* MOTHERSON SUMI SYSTEMS: To give the go-ahead for two new acquisitions, Chairman Sehgal said.
* NATIONAL PEROXIDE: The board has terminated the services of Managing Director S.R. Lohokare for gross negligence shown in signing a large number of bearer cheques and not following procedures.
* ORCHID PHARMA: AUROBINDO PHARMA and DR REDDY'S LABORATORIES are emerging as the frontrunners to buy out the bankrupt company as they seek to expand their capacities.
* PARSVNATH DEVELOPERS: Will invest about 1 bln rupees to develop a shopping mall in the national capital as part of its strategy to generate rental income from leased commercial properties.
* PETRONET LNG: Has executed the final agreements to revise the pricing terms of its 20-year pact with an affiliate of ExxonMobil to import 1.44 mtpa of liquefied natural gas from the Gorgon LNG project in Australia.
* PVR: Is scouting overseas destinations for expansion and plans to open its first project in Sri Lanka in next two years.
* RAYMOND: Has launched 2.5-bln-rupee linen manufacturing plant at Amravati that will cater to company's domestic and international markets.
* RELIANCE COMMUNICATIONS: The company and China Development Bank on Friday approached the National Company Law Tribunal in Mumbai for an adjournment of the latter's insolvency petition till next month, amid talks they have begun negotiations for an out-of-court settlement.
* RELIANCE INFRASTRUCTURE: The company's unit that operates metro services in Mumbai has submitted a proposal under Scheme for Sustainable Structuring of Stressed Assets to its lenders to lower its debt exposure.
* SANOFI INDIA: Has elevated N. Rajaram as managing director, effective Jan 1.
* SCHNEIDER ELECTRIC INFRASTRUCTURE: Has launched its digital architecture EcoStruxure Grid in Hyderabad that enables utilities to take to digital transformation and make the grid energy-efficient.
* SHALIMAR PAINTS: Board of the company has approved the rights issue of shares not exceeding 500 mln rupees at 140 rupees per share.
* SHILPA MEDICARE: On completion of merger of Navya Biologicals with itself, the company has allotted 1.4 mln shares to the four shareholders of Navya Biologicals.
* SIEMENS: Has expanded operations by opening 20 centres for digital customer applications in the industrial sector in around 50 locations in 17 countries worldwide.
* SINTEX INDUSTRIES: Has said that the attachment of its properties by the Enforcement Directorate isn't final, as investigation in this regard is still underway.
* SPECIALITY RESTAURANTS: Has opened a new Hoppipola franchise restaurant in Ranchi.
* SQS INDIA BFSI: Germany-based Weilchensee 884. V V GmbH has informed the London Stock Exchange about its proposal to acquire majority stake in the company's German parent, SQS Software Quality Systems AG.
* STATE BANK OF INDIA: Carlyle Group has completed the acquisition of 26%, or GE Capital Group's entire stake, in SBI Cards. The Central Bureau of Investigation has booked a Hyderabad- based retail company for allegedly cheating the bank to the tune of nearly 1.34 bln rupees by availing various credit facilities on the basis of forged documents between 2007 and 2014.
* STEEL AUTHORITY OF INDIA: Will start producing automotive steel in a $1 bln partnership with ArcelorMittal in three years.
* SYNDICATE BANK: The Reserve Bank of India has imposed a penalty of 50 mln rupees on the bank for noncompliance with "directions/guidelines ...on cheque purchase/discounting, bill discounting and know your customer/anti-money laundering norms".
* TATA TELESERVICES (MAHARASHTRA): To repay its debt before its maturity so that it can cut its finance cost and shut down its loss-making wireless telephony business.
* THOMAS COOK INDIA: Subsidiary Quess Corp completed acquisition of 51% stake in Trimax Smart Infraprojects on Friday.
* TORRENT PHARMACEUTICALS: raised 10 bln rupees through the issuance of bonds maturing in eight years.
* UNIPLY INDUSTRIES: The board has approved the merger of subsidiary Vector Projects India with itself.
* WIPRO: Has announced a partnership with San-Francisco-based Headspin Inc to offer quality engineering and testing solutions on global mobile networks.
* ZENSAR TECHNOLOGIES: Has pruned the list of its smaller and non-scalable clients to focus only on those that did more deals in the domain of cloud, analytics, customer experience and cyber security, CEO Sandeep Kishore said.
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* AXIS BANK: Bain Capital has taken a $450-mln bridge loan from JP Morgan & Chase to finance its multi-billion bet on the bank.
* BAJAJ HINDUSTHAN SUGAR: SBI CAP Trustee Co has sold 119.99 mln shares or 10.6% stake in the company.
* BANK OF BARODA: The All India Bank Employees' Association and the All India Bank Officer Association have called for a strike on Dec 27.
* BANK OF INDIA: Is seeking new bids for selling its stake in STCI Finance, as bids in the previous round were below its expectations.
* BHARAT FINANCIAL INCLUSION: Has bought 0.36% stake or 500,000 shares of the company from Morgan Stanley Mauritius Co at 992.50 rupees per share, in a block deal on BSE.
* BHARTI AIRTEL: Societe Generale on Friday bought 3 mln shares or 0.075% stake in the company from Morgan Stanley France SAS at 527.25 rupees per share in a block deal on the BSE.
- The company and Reliance Jio Infocomm are venturing out of their core domain into the multi-billion-dollar cloud computing services market as part of the strategy to explore options to diversify revenue streams. The company may have to pay a fine for the alleged violation of rules on using Aadhaar for its electronic know-your-customer verification process.
* CASTROL INDIA: Shareholders of the company have approved the proposal for the issue of one bonus share for every one share held.
* CIPLA: Has received a tentative approval from US Food and Drug Administration for Darunavir Hydrate tablet.
* CLARIS LIFESCIENCES: Has approved a proposal to voluntarily delist shares from the BSE.
* CONTAINER CORP OF INDIA: Will develop 1,000 acre of land for Integrated Logistics and Manufacturing zone at Machillpatnam in Andhra Pradesh.
* DISH TV INDIA: Ministry of Information and Broadcasting has approved the merger of Videocon D2H with the company.
* FORTIS HEALTHCARE: The National Pharmaceutical Pricing Authority said the company's hospital at Gurugram made a margin of as much as 343% on essential drugs when treating seven-year-old Adya Singh for dengue shock syndrome. Pensionskasse des Bundes Publica, the federal employees' pension fund of Switzerland, bought 2.86 mln shares of the company at 135.81 rupees apiece in a bulk deal on the National Stock Exchange.
* GAIL INDIA: Will enter into pacts with aluminum and steel majors in Odisha for supply of natural gas from Dec 2019. A quadripartite agreement has been signed between National Skill Development Corp, GAIL, Skill Development Institute and Labour Net to promote and enhance skill development activities related to Urja Ganga Gas Pipeline Project.
* GREENPLY INDUSTRIES: Reliance Mutual Fund bought 0.81% stake or 990,000 shares of the company at 335 rupees apiece, in a bulk deal on BSE.
* HINDUSTAN UNILEVER: Private equity firm KKR is in exclusive talks to buy the company's margarine and spreads business after outbidding other buyout firms, in a deal expected to top $7 bln.
* HOUSING DEVELOPMENT FINANCE CORPORATION: Is looking to raise funds that would be used to maintain its stake in HDFC BANK.
* ICICI BANK: Has bought 8 mln shares or 0.1% stake in the bank from Morgan Stanley France SAS at 306.75 rupees per share in a block deal on the BSE.
* ICICI LOMBARD GENERAL INSURANCE CO: The Consumer Dispute Redressal Forum of Central Mumbai has ordered the company to pay the insurance claim amount of 1 mln rupees, which the insurance claim had wrongly repudiated, to the consumer.
* INDIABULLS REAL ESTATE: In alliance with Mandarin Oriental Hotel Group as hotel partner for its residential development in London's Hanover Square.
* INDIAN HOTELS CO: Re-entry into its crown property, Taj Mansingh, may not be smooth though the company is gearing up for aggressive bidding in the New Delhi Municipal Council auction next month.
* ION EXCHANGE INDIA: Plans to increase exports, set up another unit to make resins at Ankleshwar, and an overseas assembly unit in Saudi Arabia.
* J BHASIN LEASING: Promoters of the company have made an exit offer to public shareholders wherein they will acquire 5.65% stake or 169,600 shares at 8.36 rupees apiece.
* JAIPRAKASH ASSOCIATES: The Supreme Court has granted the company time till Jan 25 to deposit 1.25 bln rupees it was asked to deposit by Dec 31 in a plea by homebuyers against the company's subsidiary Jaypee Infratech. Plans to sell all its five hospitality assets under the brand Jaypee Hotels and Resorts at an estimated rate of 25 bln rupees.
* JMC PROJECTS (INDIA): Has won two orders for 7.9 bln rupees.
* JSW HOLDINGS: The Reserve Bank of India notified that foreign portfolio investors can invest up to 49% of the paidup capital in the company under the portfolio investment scheme, against a cap of 24% earlier.
* KESORAM INDUSTRIES: Board has approved a preferential issue of shares, which could include issue of convertible warrants of up to 3.5 bln rupees, to promoter group company Manav Investment and Trading Co.
* LARSEN & TOUBRO INFOTECH: Has completed acquisition of Syncordis SA, Luxembourg, along with subsidiaries Syncordis Support Services, Luxembourg, Syncordis Ltd UK and Syncordis SARL France.
* MAHINDRA & MAHINDRA: The board of the company's wholly-owned subsidiary SsangYong Motor Co will meet early 2018 to take a call on the latter's entry in the US market.
* MAHINDRA AND MAHINDRA FINANCIAL SERVICES: Has raised over 10 bln rupees by selling shares to financial institutions earlier this month, is considering strategic acquisitions across its various verticals.
* MANAPPURAM FINANCE: Managing Director and Chief Executive Officer V.P. Nandkumar raised his stake in the company to 28.43% from 28.39% earlier by purchasing 301,500 shares from the open market.
* MOTHERSON SUMI SYSTEMS: To give the go-ahead for two new acquisitions, Chairman Sehgal said.
* NATIONAL PEROXIDE: The board has terminated the services of Managing Director S.R. Lohokare for gross negligence shown in signing a large number of bearer cheques and not following procedures.
* ORCHID PHARMA: AUROBINDO PHARMA and DR REDDY'S LABORATORIES are emerging as the frontrunners to buy out the bankrupt company as they seek to expand their capacities.
* PARSVNATH DEVELOPERS: Will invest about 1 bln rupees to develop a shopping mall in the national capital as part of its strategy to generate rental income from leased commercial properties.
* PETRONET LNG: Has executed the final agreements to revise the pricing terms of its 20-year pact with an affiliate of ExxonMobil to import 1.44 mtpa of liquefied natural gas from the Gorgon LNG project in Australia.
* PVR: Is scouting overseas destinations for expansion and plans to open its first project in Sri Lanka in next two years.
* RAYMOND: Has launched 2.5-bln-rupee linen manufacturing plant at Amravati that will cater to company's domestic and international markets.
* RELIANCE COMMUNICATIONS: The company and China Development Bank on Friday approached the National Company Law Tribunal in Mumbai for an adjournment of the latter's insolvency petition till next month, amid talks they have begun negotiations for an out-of-court settlement.
* RELIANCE INFRASTRUCTURE: The company's unit that operates metro services in Mumbai has submitted a proposal under Scheme for Sustainable Structuring of Stressed Assets to its lenders to lower its debt exposure.
* SANOFI INDIA: Has elevated N. Rajaram as managing director, effective Jan 1.
* SCHNEIDER ELECTRIC INFRASTRUCTURE: Has launched its digital architecture EcoStruxure Grid in Hyderabad that enables utilities to take to digital transformation and make the grid energy-efficient.
* SHALIMAR PAINTS: Board of the company has approved the rights issue of shares not exceeding 500 mln rupees at 140 rupees per share.
* SHILPA MEDICARE: On completion of merger of Navya Biologicals with itself, the company has allotted 1.4 mln shares to the four shareholders of Navya Biologicals.
* SIEMENS: Has expanded operations by opening 20 centres for digital customer applications in the industrial sector in around 50 locations in 17 countries worldwide.
* SINTEX INDUSTRIES: Has said that the attachment of its properties by the Enforcement Directorate isn't final, as investigation in this regard is still underway.
* SPECIALITY RESTAURANTS: Has opened a new Hoppipola franchise restaurant in Ranchi.
* SQS INDIA BFSI: Germany-based Weilchensee 884. V V GmbH has informed the London Stock Exchange about its proposal to acquire majority stake in the company's German parent, SQS Software Quality Systems AG.
* STATE BANK OF INDIA: Carlyle Group has completed the acquisition of 26%, or GE Capital Group's entire stake, in SBI Cards. The Central Bureau of Investigation has booked a Hyderabad- based retail company for allegedly cheating the bank to the tune of nearly 1.34 bln rupees by availing various credit facilities on the basis of forged documents between 2007 and 2014.
* STEEL AUTHORITY OF INDIA: Will start producing automotive steel in a $1 bln partnership with ArcelorMittal in three years.
* SYNDICATE BANK: The Reserve Bank of India has imposed a penalty of 50 mln rupees on the bank for noncompliance with "directions/guidelines ...on cheque purchase/discounting, bill discounting and know your customer/anti-money laundering norms".
* TATA TELESERVICES (MAHARASHTRA): To repay its debt before its maturity so that it can cut its finance cost and shut down its loss-making wireless telephony business.
* THOMAS COOK INDIA: Subsidiary Quess Corp completed acquisition of 51% stake in Trimax Smart Infraprojects on Friday.
* TORRENT PHARMACEUTICALS: raised 10 bln rupees through the issuance of bonds maturing in eight years.
* UNIPLY INDUSTRIES: The board has approved the merger of subsidiary Vector Projects India with itself.
* WIPRO: Has announced a partnership with San-Francisco-based Headspin Inc to offer quality engineering and testing solutions on global mobile networks.
* ZENSAR TECHNOLOGIES: Has pruned the list of its smaller and non-scalable clients to focus only on those that did more deals in the domain of cloud, analytics, customer experience and cyber security, CEO Sandeep Kishore said.
