Today Stock News – 15.02.2018
* ADANI ENTERPRISES: Is looking to buy coal mines in countries such as Indonesia.
* ANDHRA BANK: Will reduce its marginal cost of funds-based lending rates on one month and overnight loans by 10- 15 basis points, effective Thursday.
* ASTRAZENECA PHARMA INDIA: Has announced the launch of its innovative anti-diabetic combination once-daily therapy Xigduo XR for treatment of adults with type 2 diabetes.
* BHARTI AIRTEL: The company's Netherlands-based international holding company for its Africa operations is exploring an initial public offer.
* BHUSHAN STEEL: Liberty House Group is set to bid for the debt-laden company and ABG SHIPYARD, which are facing insolvency.
* DALMIA BHARAT: An investor group led by the company and Kumar Mangalam Birla are emerging as the lead bidders for Binani Cement, which is being sold under the country's insolvency process.
* DLF: Will sell completed rental assets and commercial land parcels worth about 93 bln rupees to its joint venture with Singapore's sovereign wealth fund GIC. Plans to get rid of its entire debt in 2018-19 (Apr-Mar). Has cut its net debt substantially to 55.13 bln rupees with the help of fund infusion by promoters.
* GAIL INDIA: Will buy the entire produce for the next 15 years from Essar Oil's coal bed methane (CBM) block of Raniganj East in West Bengal.
* GITANJALI GEMS: Lenders to the Mehul Choksi-led Gitanjali group have ordered a forensic audit of the jewellery firm after PUNJAB NATIONAL BANK named Choksi in a complaint with the Central Bureau of Investigation against jeweller Nirav Modi and his relatives through a clutch of companies they own.
* HOUSING DEVELOPMENT FINANCE CORP: Piramal Finance, the company and IIFL are betting big on affordable housing and are planning to invest $4 bln in affordable housing project.
* ICICI LOMBARD GENERAL INSURANCE CO: The premium underwritten by the company rose 5.0% on year to 11.37 bln rupees in January.
* INDIABULLS REAL ESTATE: Subsidiaries Navilith Holdings (Cyprus) and M Holdco1 (Mauritius) have approved reorganisation of their commercial leasing business in India.
* INDO COUNT INDUSTRIES: The board has decided to pay an interim dividend of 0.40 rupee per share.
* INFIBEAM INCORPORATION: The board has decided to pay an interim dividend of 0.10 rupees per share.
* INTELLECT DESIGN ARENA: The company's subsidiary Intellect SEEC has partnered with US-based insurance company KSKJ Life.
* JINDAL POLY FILMS: The board has approved expansion of the company's domestic operations by investing 2.25 bln rupees in polyester Line-I.
* JSW STEEL: Plans to raise $1.5 bln through overseas borrowings as it looks to buy stressed assets in the industry.
* MERCATOR: The board has approved de-merger of the company's dredging operations into Mercator Dredging.
* MT EDUCARE: India Max Investment Fund has sold 300,000 shares or 0.75% stake in the company at 71.15 rupees per share in a block deal on National Stock Exchange. ZEE LEARN to acquire 31.96 mln shares of the company.
* NELCAST: The board has approved phase II expansion of its iron casting unit in Andhra Pradesh by investing around 1.14 bln rupees to increase the capacity to 36,000 tn per year.
* OIL AND NATURAL GAS CORP: Plans to introduce carbon dioxide injection in its Gandhar field to recover an extra 20 mln barrels of crude oil under the enhanced oil recovery programme. Arm ONGC Videsh has offered to invest $6.2 bln in development of Iran's giant Farzad-B gas field in the Persian Gulf while leaving the marketing of gas to Tehran.
* PIRAMAL ENTERPRISES: Piramal Finance, a wholly-owned subsidiary of the company, will invest 30 bln rupees in affordable and mid-income residential projects across major cities.
* PRABHAT DAIRY: Has launched its exclusive retail store network in Maharashtra, and plans to open 500 retail outlets by 2020.
* PVR: Has opened an eight-screen multiplex at Next Galleria, Panjagutta, in Hyderabad, taking its total screen count to 625 across 51 cities.
* RELIANCE COMMUNICATIONS: American Tower Corp has moved the Delhi High Court against the company and its subsidiary Reliance Telecom, seeking surety over 1.00 bln rupees that it says the two companies owed it for services.
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm's JioPhone will feature social networking application Facebook.
* RELIGARE ENTERPRISES: The board of the company will meet on Saturday to consider raising funds. The auditors of the company have flagged off concerns that the company
may have to write off a portion of its investments in its major subsidiary Religare Finvest.
* SUNTECK REALTY: Has decided to acquire part stake in distressed property in South Mumbai.
* TATA COMMUNICATIONS: Is working with China-based wearables company Omate to equip a children's smartwatch with secure global connectivity using the Indian company's subscriber identification module or SIM card.
* TATA CONSULTANCY SERVICES: The company launched an enterprise data lake for advanced analytics using Amazon Web Services platform.
* TATA POWER CO: The board approved raising up to 35 bln rupees through the issuance of non-convertible debentures in one or more tranches.
* TATA STEEL: Has commissioned a coal crushing plant at west Bokaro, which is expected to help the company cut down on road transportation charges. Seems to be emerging the highest bidder for Bhushan Power and Steel.
* VAKRANGEE: Has launched travel and visa assistance services to strengthen its partnership with travel service enterprise One Vasco.
* ZEE ENTERTAINMENT ENTERPRISES: Has launched a new video streaming platform Zee5.
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* ANDHRA BANK: Will reduce its marginal cost of funds-based lending rates on one month and overnight loans by 10- 15 basis points, effective Thursday.
* ASTRAZENECA PHARMA INDIA: Has announced the launch of its innovative anti-diabetic combination once-daily therapy Xigduo XR for treatment of adults with type 2 diabetes.
* BHARTI AIRTEL: The company's Netherlands-based international holding company for its Africa operations is exploring an initial public offer.
* BHUSHAN STEEL: Liberty House Group is set to bid for the debt-laden company and ABG SHIPYARD, which are facing insolvency.
* DALMIA BHARAT: An investor group led by the company and Kumar Mangalam Birla are emerging as the lead bidders for Binani Cement, which is being sold under the country's insolvency process.
* DLF: Will sell completed rental assets and commercial land parcels worth about 93 bln rupees to its joint venture with Singapore's sovereign wealth fund GIC. Plans to get rid of its entire debt in 2018-19 (Apr-Mar). Has cut its net debt substantially to 55.13 bln rupees with the help of fund infusion by promoters.
* GAIL INDIA: Will buy the entire produce for the next 15 years from Essar Oil's coal bed methane (CBM) block of Raniganj East in West Bengal.
* GITANJALI GEMS: Lenders to the Mehul Choksi-led Gitanjali group have ordered a forensic audit of the jewellery firm after PUNJAB NATIONAL BANK named Choksi in a complaint with the Central Bureau of Investigation against jeweller Nirav Modi and his relatives through a clutch of companies they own.
* HOUSING DEVELOPMENT FINANCE CORP: Piramal Finance, the company and IIFL are betting big on affordable housing and are planning to invest $4 bln in affordable housing project.
* ICICI LOMBARD GENERAL INSURANCE CO: The premium underwritten by the company rose 5.0% on year to 11.37 bln rupees in January.
* INDIABULLS REAL ESTATE: Subsidiaries Navilith Holdings (Cyprus) and M Holdco1 (Mauritius) have approved reorganisation of their commercial leasing business in India.
* INDO COUNT INDUSTRIES: The board has decided to pay an interim dividend of 0.40 rupee per share.
* INFIBEAM INCORPORATION: The board has decided to pay an interim dividend of 0.10 rupees per share.
* INTELLECT DESIGN ARENA: The company's subsidiary Intellect SEEC has partnered with US-based insurance company KSKJ Life.
* JINDAL POLY FILMS: The board has approved expansion of the company's domestic operations by investing 2.25 bln rupees in polyester Line-I.
* JSW STEEL: Plans to raise $1.5 bln through overseas borrowings as it looks to buy stressed assets in the industry.
* MERCATOR: The board has approved de-merger of the company's dredging operations into Mercator Dredging.
* MT EDUCARE: India Max Investment Fund has sold 300,000 shares or 0.75% stake in the company at 71.15 rupees per share in a block deal on National Stock Exchange. ZEE LEARN to acquire 31.96 mln shares of the company.
* NELCAST: The board has approved phase II expansion of its iron casting unit in Andhra Pradesh by investing around 1.14 bln rupees to increase the capacity to 36,000 tn per year.
* OIL AND NATURAL GAS CORP: Plans to introduce carbon dioxide injection in its Gandhar field to recover an extra 20 mln barrels of crude oil under the enhanced oil recovery programme. Arm ONGC Videsh has offered to invest $6.2 bln in development of Iran's giant Farzad-B gas field in the Persian Gulf while leaving the marketing of gas to Tehran.
* PIRAMAL ENTERPRISES: Piramal Finance, a wholly-owned subsidiary of the company, will invest 30 bln rupees in affordable and mid-income residential projects across major cities.
* PRABHAT DAIRY: Has launched its exclusive retail store network in Maharashtra, and plans to open 500 retail outlets by 2020.
* PVR: Has opened an eight-screen multiplex at Next Galleria, Panjagutta, in Hyderabad, taking its total screen count to 625 across 51 cities.
* RELIANCE COMMUNICATIONS: American Tower Corp has moved the Delhi High Court against the company and its subsidiary Reliance Telecom, seeking surety over 1.00 bln rupees that it says the two companies owed it for services.
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm's JioPhone will feature social networking application Facebook.
* RELIGARE ENTERPRISES: The board of the company will meet on Saturday to consider raising funds. The auditors of the company have flagged off concerns that the company
may have to write off a portion of its investments in its major subsidiary Religare Finvest.
* SUNTECK REALTY: Has decided to acquire part stake in distressed property in South Mumbai.
* TATA COMMUNICATIONS: Is working with China-based wearables company Omate to equip a children's smartwatch with secure global connectivity using the Indian company's subscriber identification module or SIM card.
* TATA CONSULTANCY SERVICES: The company launched an enterprise data lake for advanced analytics using Amazon Web Services platform.
* TATA POWER CO: The board approved raising up to 35 bln rupees through the issuance of non-convertible debentures in one or more tranches.
* TATA STEEL: Has commissioned a coal crushing plant at west Bokaro, which is expected to help the company cut down on road transportation charges. Seems to be emerging the highest bidder for Bhushan Power and Steel.
* VAKRANGEE: Has launched travel and visa assistance services to strengthen its partnership with travel service enterprise One Vasco.
* ZEE ENTERTAINMENT ENTERPRISES: Has launched a new video streaming platform Zee5.
