Daily Stock News Today – 04.01.2018
* ALLAHABAD BANK: The bank said the RBI has put the lender under prompt corrective action framework post an onsite inspection of high non-performing assets and negative return of assets for fiscal 2016-17.
* ARIHANT SUPERSTRUCTURES: Plans to invest 40 bln rupees in the next seven years to develop affordable housing in Mumbai and Jodhpur.
* AURIONPRO SOLUTIONS: Subsidiary Cyberinc has entered into a definitive agreement with KPMG LLP, US, for sale of its Identity and Access Management business for 2.17 bln rupees.
* BANK OF MAHARASHTRA: Board has approved raising 6.50 bln rupees via a preferential allotment of shares to the government.
* CENTRUM CAPITAL: Will raise an aggregate amount of 18 bln rupees through various securities.
* DCB BANK: The board of the bank will consider raising up to 1.5 bln rupees through tier-II bonds on or after Saturday.
* DREDGING CORP OF INDIA: The government invited bids from merchant bankers, investment bankers and financial institutions to engage advisers for the strategic divestment of the company.
* GAIL INDIA: The government is considering a proposal to split the company with the marketing operations spun off into a separate company.
* HINDUSTAN PETROLEUM CORP: The amount that will flow for the proposed acquisition of the company by OIL & NATURAL GAS CORP could be around 450 bln rupees.
* HOUSING DEVELOPMENT FINANCE CORP: The company's earned a profit of 52.70 bln rupees from sale of investments in Oct-Dec, of which 52.50 bln rupees from stake sale in HDFC Standard Life Insurance Co. The joint venture of the company and Abu Dhabi Investment Authority is set to commit more than $500 mln by March to affordable and mid-income housing projects across India, the company's Chairman Deepak Parekh said.
* IDBI BANK: Has invited initial bids for sale of land parcels and movable assets of JJ Exports to recover dues, the lender said in a notification.
* INFOSYS: Former chief executive officer Balakrishnan has sought restructuring of the board by replacing former cochairman Ravi Venakatesan and ex-audit committee chairperson Roopa Kudva.
* INTELLECT DESIGN ARENA: Intellect SEEC, the insurance software division of the company, has got seven new clients in Apr-Oct for its new cloud-native platform.
* JAIPRAKASH ASSOCIATES: RBI has ordered banks not to initiate bankruptcy proceedings against the company, possibly in anticipation of legal complications after a Supreme Court order barred promoters from selling or transferring assets.
* LAKSHMI VILAS BANK: The capital raising committee of the bank has approved the allotment of 63.98 mln shares at 122 rupees apiece through a rights issue.
* NBCC (INDIA): Has received total order of 3.15 bln rupees in December.
* ORCHID PHARMA: Adurjee & Bros sold 1.74 mln shares or 1.96% stake in the company through the open market on Monday.
* ORIENTAL BANK OF COMMERCE: Has invited bids to sell 5,504 sq mtr land situated at Andheri, Mumbai.
* OSWAL GREENTECH: Has sold 2.7% stake or 5.4 mln shares in MONNET ISPAT AND ENERGY through the open market, in tranches.
* RAMKRISHNA FORGINGS: Promoter group Riddhi Portfolio settled a case related to alleged violation of takeover norms with regulator SEBI after paying over 9.9 mln rupees.
* SJVN: Board will meet on Monday to consider a proposal to buy back its fully-paid up shares.
* TATA MOTORS: The company and GREAVES COTTON have entered into agreements with foreign companies to develop and supply less-polluting engines. Jaguar Land Rover's December US total sales were at 11,394 units, down 9.4% on year.
* UNICHEM LABORATORIES: The board will meet on Monday to consider a proposal to buy back its fully paid-up equity shares.
* VIPUL ORGANICS: Board has approved the allotment of 1.26 mln warrants, which are convertible into shares, on preferential basis at an issue price of 40 rupees each.
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* ARIHANT SUPERSTRUCTURES: Plans to invest 40 bln rupees in the next seven years to develop affordable housing in Mumbai and Jodhpur.
* AURIONPRO SOLUTIONS: Subsidiary Cyberinc has entered into a definitive agreement with KPMG LLP, US, for sale of its Identity and Access Management business for 2.17 bln rupees.
* BANK OF MAHARASHTRA: Board has approved raising 6.50 bln rupees via a preferential allotment of shares to the government.
* CENTRUM CAPITAL: Will raise an aggregate amount of 18 bln rupees through various securities.
* DCB BANK: The board of the bank will consider raising up to 1.5 bln rupees through tier-II bonds on or after Saturday.
* DREDGING CORP OF INDIA: The government invited bids from merchant bankers, investment bankers and financial institutions to engage advisers for the strategic divestment of the company.
* GAIL INDIA: The government is considering a proposal to split the company with the marketing operations spun off into a separate company.
* HINDUSTAN PETROLEUM CORP: The amount that will flow for the proposed acquisition of the company by OIL & NATURAL GAS CORP could be around 450 bln rupees.
* HOUSING DEVELOPMENT FINANCE CORP: The company's earned a profit of 52.70 bln rupees from sale of investments in Oct-Dec, of which 52.50 bln rupees from stake sale in HDFC Standard Life Insurance Co. The joint venture of the company and Abu Dhabi Investment Authority is set to commit more than $500 mln by March to affordable and mid-income housing projects across India, the company's Chairman Deepak Parekh said.
* IDBI BANK: Has invited initial bids for sale of land parcels and movable assets of JJ Exports to recover dues, the lender said in a notification.
* INFOSYS: Former chief executive officer Balakrishnan has sought restructuring of the board by replacing former cochairman Ravi Venakatesan and ex-audit committee chairperson Roopa Kudva.
* INTELLECT DESIGN ARENA: Intellect SEEC, the insurance software division of the company, has got seven new clients in Apr-Oct for its new cloud-native platform.
* JAIPRAKASH ASSOCIATES: RBI has ordered banks not to initiate bankruptcy proceedings against the company, possibly in anticipation of legal complications after a Supreme Court order barred promoters from selling or transferring assets.
* LAKSHMI VILAS BANK: The capital raising committee of the bank has approved the allotment of 63.98 mln shares at 122 rupees apiece through a rights issue.
* NBCC (INDIA): Has received total order of 3.15 bln rupees in December.
* ORCHID PHARMA: Adurjee & Bros sold 1.74 mln shares or 1.96% stake in the company through the open market on Monday.
* ORIENTAL BANK OF COMMERCE: Has invited bids to sell 5,504 sq mtr land situated at Andheri, Mumbai.
* OSWAL GREENTECH: Has sold 2.7% stake or 5.4 mln shares in MONNET ISPAT AND ENERGY through the open market, in tranches.
* RAMKRISHNA FORGINGS: Promoter group Riddhi Portfolio settled a case related to alleged violation of takeover norms with regulator SEBI after paying over 9.9 mln rupees.
* SJVN: Board will meet on Monday to consider a proposal to buy back its fully-paid up shares.
* TATA MOTORS: The company and GREAVES COTTON have entered into agreements with foreign companies to develop and supply less-polluting engines. Jaguar Land Rover's December US total sales were at 11,394 units, down 9.4% on year.
* UNICHEM LABORATORIES: The board will meet on Monday to consider a proposal to buy back its fully paid-up equity shares.
* VIPUL ORGANICS: Board has approved the allotment of 1.26 mln warrants, which are convertible into shares, on preferential basis at an issue price of 40 rupees each.
