Daily Stock News Today – 08.01.2018
* ABAN OFFSHORE: Promoters of the company have offered to pay up to $600 mln in a one-time settlement to 17 banks to which it collectively owes nearly $2 bln.
* AMTEK AUTO: Debt resolution plans submitted by various companies for the company are being evaluated by the resolution professional and the committee of creditors.
* APOLLO PIPES: Promoters sold 1.75 mln shares or 15.86% stake in the company through open market on Thursday for 110.3 mln rupees.
* BHARTI AIRTEL: Airtel Payments Bank has terminated relationships with nearly 1,000 retailers for not following the due process while signing up customers, after the banking arm of the company conducted internal investigations to zero in on errors and lapses that led to its Aadhaar-based e-KYC licence getting suspended.
* BOMBAY DYEING & MANUFACTURING CO: Has appointed Vishnu Sundararajan Peruvemba as the chief financial officer and key managerial personnel of the company with effect from Friday.
* BPL: Is eyeing an over five-fold increase in the turnover of its consumer business to 5 bln rupees in the next three years as it expands its product portfolio and strengthens distribution.
* BRIGADE ENTERPRISES: In the process of moving all its hotel assets into a separate unit, may consider listing the new entity as a real estate investment trust or going public in the future as part of its strategy to expand its hospitality business, said a top company executive.
* DEN NETWORKS: Has acquired 51% stake in VBS Digital Distribution Network for 26.4 mln rupees.
* DILIP BUILDCON: Has incorporated a subsidiary DBL-VPR Mining to enter into mining business, but not limited to coal mining.
* EDELWEISS FINANCIAL SERVICES: The company's subsidiary, Edelweiss General Insurance, has become the 33rd non-life company in the country following a certificate of registration from the Insurance Regulatory and Development Authority of India.
* FORCE MOTORS: Sales in December were at 1,921 units, down 16.8% on year.
* FORTIS HEALTHCARE: The company denied that promoters are in talks with private equity firms to sell stake. Is seeking a cash infusion of as much as $790 mln as part of the deal to sell promoter stake in the company.
* GITANJALI GEMS: Morgan Stanley France has bought 990,387 shares or 0.83% stake in the company at 74.07 rupees per share in a bulk deal on the National Stock Exchange.
* GMR INFRASTRUCTURE: ADANI POWER, JSW ENERGY and TATA POWER CO have submitted bids to acquire a majority stake in the company's 1,370-MW power plant in Chhattisgarh.
* GREAVES COTTON: Reliance Capital Trustee Co sold 471,637 shares, or 0.19% stake, in the company, held through various schemes of Reliance Mutual Fund, through open market on Wednesday.
* HINDUSTAN PETROLEUM CORP: The sale of the government's stake in the company to OIL AND NATURAL GAS CORP is stuck on valuation.
* INDOWIND ENERGY: The company will raise 200 mln rupees through a qualified institutional placement of shares and 100 mln rupees through an issuance of warrants to promoters.
* INDUSLND BANK: Has introduced a facility to create a fixed deposit when the customer balance exceeds 100,000 rupees at the end of day.
* INFOSYS: Got an order from Belgium-based Proximus Group to implement Greenfield Excite, a business transformation programme aimed at delivering superior digital customer experiences for its enterprise clients. The company may offer clarity on growth strategies this week as the company gears up to announce its results for the first quarter under new chief executive officer Salil Parekh.
* INTERGLOBE AVIATION: A parliamentary standing committee on transport, tourism, and culture has pulled up the company-run IndiGo and other low-cost airlines for causing inconvenience to passengers in terms of food, waiting time at airports, and attitude of staff.
* ITC: The company and SREI INFRASTRUCTURE FINANCE have evinced interest in investing in Uttar Pradesh, said the state's Industry Minister Satish Mahana.
* JAYPEE INFRATECH: Tata Housing and the Lodha Group have filed initial bids for the company, the fate of which is now being decided at the Supreme Court and the National Company Law Tribunal, the country's dedicated platform for insolvency resolution.
* JENSON & NICHOLSON INDIA: Tamil Nadu-based Sheenlac Paints is eyeing to take full control of its joint-venture with the company as the latter faces insolvency resolution process under the National Company Law Tribunal.
* JINDAL STEEL & POWER: Will raise 10 bln rupees through qualified institutional placement route in February, chairman Naveen Jindal said.
* JSW STEEL: Is likely to bid for UTTAM GALVA STEELS, which is in the process of being referred to the National Company Law Tribunal from the Reserve Bank of India's second list of 28 entities of big defaulters.
* JYOTI STRUCTURES: A committee of creditors of the company has appointed Kroll Associates India as the resolution professional for conducting due diligence.
* LANCO INFRATECH: Lenders to the company's subsidiary Lanco Kondapalli Power have implemented strategic debt restructuring.
* LT FOODS: The company's subsidiary Nature Bio-Foods has announced the modernisation and automation of its organic foods manufacturing facility.
* MARUTI SUZUKI INDIA: Total vehicle production rose 13.7% to 122,096 units in December from 107,338 units a year ago. Has plans to expand the sales network for its light commercial vehicle 'Super Carry' as it aims to be a significant player in the segment.
* MONSANTO INDIA: The competition watchdog has sought comments on the merger between parent entities of the company and BAYER CROPSCIENCE regarding its impact on competition in India.
* MULTI COMMODITY EXCHANGE OF INDIA: The Securities and Exchange Board of India has reversed its interim order with respect to seven persons of the 13 held guilty of insider trading in shares of the company, according to a fresh order passed by the regulator's whole-time director.
* NAGARJUNA AGRICHEM: Will raise a capital of up to 3 bln rupees to fuel its near-term growth plans.
* NBCC (INDIA): Has received an order worth 20 bln rupees from Ecotourism Development Corp of Uttarakhand for construction of Kotdwar-Ramnagar Kandi road under green infrastructure project.
* NATIONAL ALUMINIUM CO: Is mulling setting up a high-end aluminium products plant by availing technology from foreign suppliers.
* NTPC: Thirteen entities, including private power companies and banks have evinced interest in a tender floated by the company seeking buyout of stressed assets. The company's group capacity crossed the 51,000-MW mark on new year's day with the beginning of commercial operations at Unit-2 of the Kudgi Super Thermal Project.
* NAVIN FLUORINE INTERNATIONAL: The board has approved the sale of up to 1.6 mln shares or around 1% stake in NOCIL at appropriate market price.
* OIL & NATURAL GAS CORP: The company's eastern offshore asset based at Kakinada is enhancing its gas production substantially from February and is in a position to offer gas to more user industries, according to Executive Director and Asset Manager Alok Nandan.
* PTC INDIA: POWER FINANCE CORP'S arm PFC Consulting has inked a pact with the company for supply of power from commissioned coal-based thermal power projects stranded due to non-finalisation of power purchase agreement.
* PVR: Launched a 12-screen superplex in Bengaluru on Friday. This is the second superplex by the company in the country after the one in Noida.
* RELIANCE COMMUNICATIONS: The National Company Law Tribunal has deferred the hearing of the insolvency plea filed by Ericsson India against the company to Jan 18.
* SATHAVAHANA ISPAT: CANARA BANK has classified the debt of the company as non-
performing asset.
* SOBHA LTD: The company's new sales rose 11.2% on quarter to 7.5 bln rupees in Oct-Dec as real estate prices stabilised and home loan rates hit decade-low levels.
* STEEL AUTHORITY OF INDIA: A parliamentary panel has said the company must adopt necessary measures to remove all bottlenecks and focus on overall improvement in performance in view of competition from private players.
* TATA MOTORS: Jaguar Land Rover sold 6,195 units in the UK in December, down 17.3% on year as against 7,487 units a year ago.
* TATA STEEL: Sold 3.30 mln tn of steel in India in the quarter ended December, up more than 10% from the corresponding quarter last year and 7% higher sequentially.
* THE NEW INDIA ASSURANCE CO: Posted a 20% rise in Apr-Dec domestic premium to 168 bln rupees.
* TRANSCORP INTERNATIONAL: Ebix Inc has said it plans to acquire the international remittance business of the company for $7.4 mln to strengthen its position in the financial exchanges market in India.
* UNITECH: HOUSING DEVELOPMENT FINANCE CORP has sold 22.5 mln shares or 0.86% stake in the company at 9.89 rupees a share through a bulk deal on the National Stock Exchange.
* USHER AGRO: On account of distressed position of the company, it has not been able to follow the repayment schedule drawn out as part of its issue of non-convertible debentures to FMO, the Dutch development bank.
* VISA STEEL: An application has been filed by State Bank of India with National Company Law Tribunal, Kolkata Bench, to initiate Corporate Insolvency Resolution Process for the company under the Insolvency and Bankruptcy Code.
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* AMTEK AUTO: Debt resolution plans submitted by various companies for the company are being evaluated by the resolution professional and the committee of creditors.
* APOLLO PIPES: Promoters sold 1.75 mln shares or 15.86% stake in the company through open market on Thursday for 110.3 mln rupees.
* BHARTI AIRTEL: Airtel Payments Bank has terminated relationships with nearly 1,000 retailers for not following the due process while signing up customers, after the banking arm of the company conducted internal investigations to zero in on errors and lapses that led to its Aadhaar-based e-KYC licence getting suspended.
* BOMBAY DYEING & MANUFACTURING CO: Has appointed Vishnu Sundararajan Peruvemba as the chief financial officer and key managerial personnel of the company with effect from Friday.
* BPL: Is eyeing an over five-fold increase in the turnover of its consumer business to 5 bln rupees in the next three years as it expands its product portfolio and strengthens distribution.
* BRIGADE ENTERPRISES: In the process of moving all its hotel assets into a separate unit, may consider listing the new entity as a real estate investment trust or going public in the future as part of its strategy to expand its hospitality business, said a top company executive.
* DEN NETWORKS: Has acquired 51% stake in VBS Digital Distribution Network for 26.4 mln rupees.
* DILIP BUILDCON: Has incorporated a subsidiary DBL-VPR Mining to enter into mining business, but not limited to coal mining.
* EDELWEISS FINANCIAL SERVICES: The company's subsidiary, Edelweiss General Insurance, has become the 33rd non-life company in the country following a certificate of registration from the Insurance Regulatory and Development Authority of India.
* FORCE MOTORS: Sales in December were at 1,921 units, down 16.8% on year.
* FORTIS HEALTHCARE: The company denied that promoters are in talks with private equity firms to sell stake. Is seeking a cash infusion of as much as $790 mln as part of the deal to sell promoter stake in the company.
* GITANJALI GEMS: Morgan Stanley France has bought 990,387 shares or 0.83% stake in the company at 74.07 rupees per share in a bulk deal on the National Stock Exchange.
* GMR INFRASTRUCTURE: ADANI POWER, JSW ENERGY and TATA POWER CO have submitted bids to acquire a majority stake in the company's 1,370-MW power plant in Chhattisgarh.
* GREAVES COTTON: Reliance Capital Trustee Co sold 471,637 shares, or 0.19% stake, in the company, held through various schemes of Reliance Mutual Fund, through open market on Wednesday.
* HINDUSTAN PETROLEUM CORP: The sale of the government's stake in the company to OIL AND NATURAL GAS CORP is stuck on valuation.
* INDOWIND ENERGY: The company will raise 200 mln rupees through a qualified institutional placement of shares and 100 mln rupees through an issuance of warrants to promoters.
* INDUSLND BANK: Has introduced a facility to create a fixed deposit when the customer balance exceeds 100,000 rupees at the end of day.
* INFOSYS: Got an order from Belgium-based Proximus Group to implement Greenfield Excite, a business transformation programme aimed at delivering superior digital customer experiences for its enterprise clients. The company may offer clarity on growth strategies this week as the company gears up to announce its results for the first quarter under new chief executive officer Salil Parekh.
* INTERGLOBE AVIATION: A parliamentary standing committee on transport, tourism, and culture has pulled up the company-run IndiGo and other low-cost airlines for causing inconvenience to passengers in terms of food, waiting time at airports, and attitude of staff.
* ITC: The company and SREI INFRASTRUCTURE FINANCE have evinced interest in investing in Uttar Pradesh, said the state's Industry Minister Satish Mahana.
* JAYPEE INFRATECH: Tata Housing and the Lodha Group have filed initial bids for the company, the fate of which is now being decided at the Supreme Court and the National Company Law Tribunal, the country's dedicated platform for insolvency resolution.
* JENSON & NICHOLSON INDIA: Tamil Nadu-based Sheenlac Paints is eyeing to take full control of its joint-venture with the company as the latter faces insolvency resolution process under the National Company Law Tribunal.
* JINDAL STEEL & POWER: Will raise 10 bln rupees through qualified institutional placement route in February, chairman Naveen Jindal said.
* JSW STEEL: Is likely to bid for UTTAM GALVA STEELS, which is in the process of being referred to the National Company Law Tribunal from the Reserve Bank of India's second list of 28 entities of big defaulters.
* JYOTI STRUCTURES: A committee of creditors of the company has appointed Kroll Associates India as the resolution professional for conducting due diligence.
* LANCO INFRATECH: Lenders to the company's subsidiary Lanco Kondapalli Power have implemented strategic debt restructuring.
* LT FOODS: The company's subsidiary Nature Bio-Foods has announced the modernisation and automation of its organic foods manufacturing facility.
* MARUTI SUZUKI INDIA: Total vehicle production rose 13.7% to 122,096 units in December from 107,338 units a year ago. Has plans to expand the sales network for its light commercial vehicle 'Super Carry' as it aims to be a significant player in the segment.
* MONSANTO INDIA: The competition watchdog has sought comments on the merger between parent entities of the company and BAYER CROPSCIENCE regarding its impact on competition in India.
* MULTI COMMODITY EXCHANGE OF INDIA: The Securities and Exchange Board of India has reversed its interim order with respect to seven persons of the 13 held guilty of insider trading in shares of the company, according to a fresh order passed by the regulator's whole-time director.
* NAGARJUNA AGRICHEM: Will raise a capital of up to 3 bln rupees to fuel its near-term growth plans.
* NBCC (INDIA): Has received an order worth 20 bln rupees from Ecotourism Development Corp of Uttarakhand for construction of Kotdwar-Ramnagar Kandi road under green infrastructure project.
* NATIONAL ALUMINIUM CO: Is mulling setting up a high-end aluminium products plant by availing technology from foreign suppliers.
* NTPC: Thirteen entities, including private power companies and banks have evinced interest in a tender floated by the company seeking buyout of stressed assets. The company's group capacity crossed the 51,000-MW mark on new year's day with the beginning of commercial operations at Unit-2 of the Kudgi Super Thermal Project.
* NAVIN FLUORINE INTERNATIONAL: The board has approved the sale of up to 1.6 mln shares or around 1% stake in NOCIL at appropriate market price.
* OIL & NATURAL GAS CORP: The company's eastern offshore asset based at Kakinada is enhancing its gas production substantially from February and is in a position to offer gas to more user industries, according to Executive Director and Asset Manager Alok Nandan.
* PTC INDIA: POWER FINANCE CORP'S arm PFC Consulting has inked a pact with the company for supply of power from commissioned coal-based thermal power projects stranded due to non-finalisation of power purchase agreement.
* PVR: Launched a 12-screen superplex in Bengaluru on Friday. This is the second superplex by the company in the country after the one in Noida.
* RELIANCE COMMUNICATIONS: The National Company Law Tribunal has deferred the hearing of the insolvency plea filed by Ericsson India against the company to Jan 18.
* SATHAVAHANA ISPAT: CANARA BANK has classified the debt of the company as non-
performing asset.
* SOBHA LTD: The company's new sales rose 11.2% on quarter to 7.5 bln rupees in Oct-Dec as real estate prices stabilised and home loan rates hit decade-low levels.
* STEEL AUTHORITY OF INDIA: A parliamentary panel has said the company must adopt necessary measures to remove all bottlenecks and focus on overall improvement in performance in view of competition from private players.
* TATA MOTORS: Jaguar Land Rover sold 6,195 units in the UK in December, down 17.3% on year as against 7,487 units a year ago.
* TATA STEEL: Sold 3.30 mln tn of steel in India in the quarter ended December, up more than 10% from the corresponding quarter last year and 7% higher sequentially.
* THE NEW INDIA ASSURANCE CO: Posted a 20% rise in Apr-Dec domestic premium to 168 bln rupees.
* TRANSCORP INTERNATIONAL: Ebix Inc has said it plans to acquire the international remittance business of the company for $7.4 mln to strengthen its position in the financial exchanges market in India.
* UNITECH: HOUSING DEVELOPMENT FINANCE CORP has sold 22.5 mln shares or 0.86% stake in the company at 9.89 rupees a share through a bulk deal on the National Stock Exchange.
* USHER AGRO: On account of distressed position of the company, it has not been able to follow the repayment schedule drawn out as part of its issue of non-convertible debentures to FMO, the Dutch development bank.
* VISA STEEL: An application has been filed by State Bank of India with National Company Law Tribunal, Kolkata Bench, to initiate Corporate Insolvency Resolution Process for the company under the Insolvency and Bankruptcy Code.
