Today Stock News – 14.02.2018
* ADANI PORTS AND SPECIAL ECONOMIC ZONE: B. Ravi has resigned as chief financial officer with effect from close of business hours Monday.
* ADITYA BIRLA CAPITAL: Is planning to invest 10 bln rupees each year to grow its retail and small and medium enterprise loan book, administered by a non-bank finance company and a housing finance company.
* ADITYA BIRLA FASHION AND RETAIL: Is set to bring back Abof as a private label.
* BANK OF BARODA: Will exit its operations in South Africa and the central bank of the country is in discussions with the Indian lender to ensure an orderly withdrawal from the country, South African Reserve Bank said in a release. The board of the bank has approved the issue price for 53.75-bln-rupee shares on a preferential basis to the government at no less than 157.46 rupees per share, the lender said in an exchange filing.
* BANK OF INDIA: Will shut its arms in New Zealand, Botswana, and Uganda. The management said that examination of other centres and subsidiaries is under way.
* BERGER PAINTS INDIA: Believes the performance in the company's decorative segment will further improve due to the government's renewed thrust on rural growth and affordable housing.
* BRITANNIA INDUSTRIES: Has plans to launch around 50 new products under its existing as well as new categories by the end of the next fiscal as part of efforts to be a total food company. Is looking to enter into a joint venture with a global player, to expand its presence in the dairy segment.
* COAL INDIA: Over the next five years, to acquire enough railway rakes to transport coal to all thermal power stations in the country.
* FORTIS HEALTHCARE: Has sought an approval from exchanges to extend the deadline to release its earnings for the September and December quarters to Feb 28, after the auditors expanded the scope of their review in light of recent news. India's markets regulator has started a preliminary examination of the issues at the company, including alleged instances of fund diversions.
- Daiichi Sankyo Co has moved the Delhi High Court seeking execution of 35-bln-rupee arbitration award against the company promoters Malvinder Singh and Shivinder Singh. The board has constituted a management committee to oversee the functioning of the company following the resignation of Malvinder Mohan Singh and Shivinder Mohan Singh. The Institute of Chartered Accountants of India has said it would look into the alleged financial irregularities at the company. The company has signed a definitive agreement to acquire the entire assets of the RHT Health Trust.
* GAIL INDIA: The board has approved a proposal for issue of one bonus share for every three shares held.
* HINDUSTAN UNILEVER: Will reduce its spends on online and social media platforms such as Google and Facebook if they don't filter out content which is divisive or promotes gender stereotypes and hatred.
* IDBI BANK: Securities and Exchange Board of India has struck a deal to buy the bank's seven-storey office building at the bandra-kurla complex, Mumbai's prime business hub.
* IDEA CELLULAR: Has raised 32.50 bln rupees through a preferential allotment of over 326.6 mln rupees equity shares at 99.50 rupees a unit to three promoter group entities that will raise the Aditya Birla Group's stake in the country's number three telco to 47.2% from 42.4% earlier. As the Telecom Regulatory Authority of India readies to issue transparent pricing norms, the company has expressed concern over the concept of significant market power and how it will be assessed.
* INDIAN SEAMLESS METAL TUBES: The first debt-laden company that lenders are experimenting to sell outside of the Insolvency & Bankruptcy Code after the law came into effect, has attracted four bids, said two bankers familiar with the
matter.
* INDOCO REMEDIES: Electronic records maintained by the company at its manufacturing plant-I in Goa do not ensure that they are trustworthy and reliable, said the US Food and Drug Administration following an inspection of the unit from Jan 15-19.
* INTELLECT DESIGN ARENA: The company unveiled IDM 18, a digital debt management system to help banks and non-banking financial companies improve recoveries.
* INTERGLOBE AVIATION: Airbus' decision to halt the delivery of A320 planes is unlikely to impact Indian low-cost major IndiGo's aggressive expansion, as it plans to induct around 40 planes in the next one year. Aircraft engine maker Pratt & Whitney said that defective engines were installed on 32 aircraft across the world. The Delhi High Court today dismissed a petition filed by the bank and asked the airline to submit a plan to Delhi airport within a week on shifting its operations to Terminal 2 from Terminal 1.
* JAYPEE INFRATECH: Has denied media reports and said the allegations by insolvency resolution professional of fraudulently and wrongfully mortgaging 858 acres of land to secure loans of its parent JAIPRAKASH ASSOCIATES were wrong.
* JSW STEEL: The company on Sunday started operations at its category 'C' Tunga mine in Karnataka, which has capacity of 0.3 mtpa, after securing all necessary Permissions.
* KRBL: The Pabrai Investment Fund bought 6.4 mln shares or 2.7% stake in the company at 594 rupees each through bulk deals on BSE.
* LYKA LABS: Has allotted 550,000 warrants on a preferential basis to Enai Trading & Investment at 55 rupees each.
* MAHINDRA & MAHINDRA: The company's subsidiary, Mahindra First Choice Services, has entered into branded generic two-wheeler spare parts. Has proposed investment of 5 bln rupees for electric vehicle production in Maharashtra, just week after the state cabinet came up with a policy to promote such investment.
* MANGALAM CEMENT: The board has approved raising up to 2.5 bln rupees through the issuance of non-convertible debentures in one or more tranches on a private placement basis.
* NTPC: Arm NVVN has emerged as the lowest bidder to supply 300-MW power in Bangladesh for 15 years at an estimated tariff of 3.42 rupees per unit.
* OIL AND NATURAL GAS CORP: At least four persons were killed and 11 injured in a blast on a ship of the company today at COCHIN SHIPYARD.
* PIRAMAL ENTERPRISES: The administrative committee of directors has approved a proposal to begin the transfer of certain assets and liabilities of the company's financial services business to its wholly-owned subsidiary Piramal Finance.
* PURAVANKARA: Plans to set up a real estate fund of up to 20 bln rupees to develop affordable housing projects, primarily in key markets of Bengaluru, Mumbai, Pune, Chennai and Hyderabad.
* RELIANCE COMMUNICATIONS: Has called for a meeting of holders of its senior secured bonds worth $300 million on Mar 6 in London to seek approval for its asset monetisation plan, the company said.
* RELIANCE INDUSTRIES: Arm Reliance Jio Infocomm has said Facebook will be available on
the JioPhone via a new version customised for Jio KaiOS. Will set up an electronics park on 150 acres at Tirupati in Andhra Pradesh.
* RICOH INDIA: SEBI has called for a second audit of the company's account books and banned seven persons including former top executives from accessing the securities market.
* ROLTA INDIA: Has entered into a restructuring agreement with a committee of holders of its $300 mln senior notes due in 2019 and $200 mln senior notes due in 2018.
* STEEL AUTHORITY OF INDIA: Invited bids from companies for strategic sale of its Alloy Steels Plant at Durgapur.
* TATA MOTORS: Sales increased 19% this financial year, helping it to race ahead of Japanese carmaker Honda Cars and secure the fourth spot among peers in the domestic market.
* TORRENT PHARMACEUTICALS: Is facing a slowdown in its US business and has now turned its focus on growing its domestic business.
* TORRENT POWER: Won big projects in the fourth bidding held by Solar Energy Corp of India for 2,000-MW wind power projects.
* VEER ENERGY & INFRASTRUCTURE: Aspire Emerging Fund sold 300,000 shares or 2.7% stake in the company at 38 rupees per share in a bulk deal on the BSE.
* VIDEOCON INDUSTRIES: STATE BANK OF INDIA is seeking direction from the Insolvency and Bankruptcy Board of India on whether it needs to file separate insolvency cases against affiliates of the company, given that they are jointly liable for loan repayments.
* WOCKHARDT: Is seeking the approval of shareholders to allow the board of directors to give loans, or guarantees, or provide security, or make investments up to 60 bln rupees.
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* ADITYA BIRLA CAPITAL: Is planning to invest 10 bln rupees each year to grow its retail and small and medium enterprise loan book, administered by a non-bank finance company and a housing finance company.
* ADITYA BIRLA FASHION AND RETAIL: Is set to bring back Abof as a private label.
* BANK OF BARODA: Will exit its operations in South Africa and the central bank of the country is in discussions with the Indian lender to ensure an orderly withdrawal from the country, South African Reserve Bank said in a release. The board of the bank has approved the issue price for 53.75-bln-rupee shares on a preferential basis to the government at no less than 157.46 rupees per share, the lender said in an exchange filing.
* BANK OF INDIA: Will shut its arms in New Zealand, Botswana, and Uganda. The management said that examination of other centres and subsidiaries is under way.
* BERGER PAINTS INDIA: Believes the performance in the company's decorative segment will further improve due to the government's renewed thrust on rural growth and affordable housing.
* BRITANNIA INDUSTRIES: Has plans to launch around 50 new products under its existing as well as new categories by the end of the next fiscal as part of efforts to be a total food company. Is looking to enter into a joint venture with a global player, to expand its presence in the dairy segment.
* COAL INDIA: Over the next five years, to acquire enough railway rakes to transport coal to all thermal power stations in the country.
* FORTIS HEALTHCARE: Has sought an approval from exchanges to extend the deadline to release its earnings for the September and December quarters to Feb 28, after the auditors expanded the scope of their review in light of recent news. India's markets regulator has started a preliminary examination of the issues at the company, including alleged instances of fund diversions.
- Daiichi Sankyo Co has moved the Delhi High Court seeking execution of 35-bln-rupee arbitration award against the company promoters Malvinder Singh and Shivinder Singh. The board has constituted a management committee to oversee the functioning of the company following the resignation of Malvinder Mohan Singh and Shivinder Mohan Singh. The Institute of Chartered Accountants of India has said it would look into the alleged financial irregularities at the company. The company has signed a definitive agreement to acquire the entire assets of the RHT Health Trust.
* GAIL INDIA: The board has approved a proposal for issue of one bonus share for every three shares held.
* HINDUSTAN UNILEVER: Will reduce its spends on online and social media platforms such as Google and Facebook if they don't filter out content which is divisive or promotes gender stereotypes and hatred.
* IDBI BANK: Securities and Exchange Board of India has struck a deal to buy the bank's seven-storey office building at the bandra-kurla complex, Mumbai's prime business hub.
* IDEA CELLULAR: Has raised 32.50 bln rupees through a preferential allotment of over 326.6 mln rupees equity shares at 99.50 rupees a unit to three promoter group entities that will raise the Aditya Birla Group's stake in the country's number three telco to 47.2% from 42.4% earlier. As the Telecom Regulatory Authority of India readies to issue transparent pricing norms, the company has expressed concern over the concept of significant market power and how it will be assessed.
* INDIAN SEAMLESS METAL TUBES: The first debt-laden company that lenders are experimenting to sell outside of the Insolvency & Bankruptcy Code after the law came into effect, has attracted four bids, said two bankers familiar with the
matter.
* INDOCO REMEDIES: Electronic records maintained by the company at its manufacturing plant-I in Goa do not ensure that they are trustworthy and reliable, said the US Food and Drug Administration following an inspection of the unit from Jan 15-19.
* INTELLECT DESIGN ARENA: The company unveiled IDM 18, a digital debt management system to help banks and non-banking financial companies improve recoveries.
* INTERGLOBE AVIATION: Airbus' decision to halt the delivery of A320 planes is unlikely to impact Indian low-cost major IndiGo's aggressive expansion, as it plans to induct around 40 planes in the next one year. Aircraft engine maker Pratt & Whitney said that defective engines were installed on 32 aircraft across the world. The Delhi High Court today dismissed a petition filed by the bank and asked the airline to submit a plan to Delhi airport within a week on shifting its operations to Terminal 2 from Terminal 1.
* JAYPEE INFRATECH: Has denied media reports and said the allegations by insolvency resolution professional of fraudulently and wrongfully mortgaging 858 acres of land to secure loans of its parent JAIPRAKASH ASSOCIATES were wrong.
* JSW STEEL: The company on Sunday started operations at its category 'C' Tunga mine in Karnataka, which has capacity of 0.3 mtpa, after securing all necessary Permissions.
* KRBL: The Pabrai Investment Fund bought 6.4 mln shares or 2.7% stake in the company at 594 rupees each through bulk deals on BSE.
* LYKA LABS: Has allotted 550,000 warrants on a preferential basis to Enai Trading & Investment at 55 rupees each.
* MAHINDRA & MAHINDRA: The company's subsidiary, Mahindra First Choice Services, has entered into branded generic two-wheeler spare parts. Has proposed investment of 5 bln rupees for electric vehicle production in Maharashtra, just week after the state cabinet came up with a policy to promote such investment.
* MANGALAM CEMENT: The board has approved raising up to 2.5 bln rupees through the issuance of non-convertible debentures in one or more tranches on a private placement basis.
* NTPC: Arm NVVN has emerged as the lowest bidder to supply 300-MW power in Bangladesh for 15 years at an estimated tariff of 3.42 rupees per unit.
* OIL AND NATURAL GAS CORP: At least four persons were killed and 11 injured in a blast on a ship of the company today at COCHIN SHIPYARD.
* PIRAMAL ENTERPRISES: The administrative committee of directors has approved a proposal to begin the transfer of certain assets and liabilities of the company's financial services business to its wholly-owned subsidiary Piramal Finance.
* PURAVANKARA: Plans to set up a real estate fund of up to 20 bln rupees to develop affordable housing projects, primarily in key markets of Bengaluru, Mumbai, Pune, Chennai and Hyderabad.
* RELIANCE COMMUNICATIONS: Has called for a meeting of holders of its senior secured bonds worth $300 million on Mar 6 in London to seek approval for its asset monetisation plan, the company said.
* RELIANCE INDUSTRIES: Arm Reliance Jio Infocomm has said Facebook will be available on
the JioPhone via a new version customised for Jio KaiOS. Will set up an electronics park on 150 acres at Tirupati in Andhra Pradesh.
* RICOH INDIA: SEBI has called for a second audit of the company's account books and banned seven persons including former top executives from accessing the securities market.
* ROLTA INDIA: Has entered into a restructuring agreement with a committee of holders of its $300 mln senior notes due in 2019 and $200 mln senior notes due in 2018.
* STEEL AUTHORITY OF INDIA: Invited bids from companies for strategic sale of its Alloy Steels Plant at Durgapur.
* TATA MOTORS: Sales increased 19% this financial year, helping it to race ahead of Japanese carmaker Honda Cars and secure the fourth spot among peers in the domestic market.
* TORRENT PHARMACEUTICALS: Is facing a slowdown in its US business and has now turned its focus on growing its domestic business.
* TORRENT POWER: Won big projects in the fourth bidding held by Solar Energy Corp of India for 2,000-MW wind power projects.
* VEER ENERGY & INFRASTRUCTURE: Aspire Emerging Fund sold 300,000 shares or 2.7% stake in the company at 38 rupees per share in a bulk deal on the BSE.
* VIDEOCON INDUSTRIES: STATE BANK OF INDIA is seeking direction from the Insolvency and Bankruptcy Board of India on whether it needs to file separate insolvency cases against affiliates of the company, given that they are jointly liable for loan repayments.
* WOCKHARDT: Is seeking the approval of shareholders to allow the board of directors to give loans, or guarantees, or provide security, or make investments up to 60 bln rupees.
