Today Stock News – 21.02.2018
* AMBUJA CEMENT: The board has approved an initial investment of 13.9 bln rupees for the first phase of the clinker plant with a capacity of 1.7 mtpa. Has declared a final dividend of 2 rupees per share.
* APL APOLLO TUBES: Has installed the rooftop solar plants at its Murbad and Sikandarabad
manufacturing facilities with a capacity of 1.30 MW and 1.20 MW, respectively.
* ATUL AUTO: HDFC Mutual Fund bought 2.06% stake or 452,563 shares of the company from the open market on Monday.
* AXIS BANK: Has revised interest rates on retail and bulk deposits, effective Feb 3.
* BANK OF INDIA: The bank has approved allotment of 136.5 mln shares worth 22.57 bln rupees at 165.32 rupees a share to the government on a preferential basis.
* BANK OF MAHARASHTRA: Has decided to exercise call options on two of its additional tier-I bonds on Mar 17, much ahead of their call date.
* BHARTI AIRTEL: Terming the appeal filed by the Reliance Jio Infocomm 'misconceived and frivolous", the company has told the Supreme Court that The Telecom Regulator Authority of India must take action against the Mukesh Ambani company for misutilising 'the test phase' by offering free services prior to the commercial launch so as to create "illegal" subscriber base of more than six mln.
* BHUSHAN STEEL: After conveying its intent last week to be allowed to participate as a late bidder for Bhushan Power and Steel, UK-based Liberty House submitted a bid on Tuesday to the resolution professional.
* BINANI INDUSTRIES: Promoters of Binani Cement, has questioned the insolvency process of the cement company by valuing it at 173 bln rupees, which includes mining rights of 117 bln rupees, against bids of around 63 bln rupees received from DALMIA BHARAT and ULTRATECH CEMENT.
* CAPITAL FIRST: The proposed merger of the company and its subsidiaries with IDFC BANK has crossed the first regulatory hurdle, with National Housing Bank indicating it has no objection to the merger as long it meets all legal requirements.
* CENTRAL BANK OF INDIA: The capital raising committee of the board of the bank will meet on Friday to consider raising up to 48.35 bln rupees through the issue of shares to the government on a preferential basis.
* COAL INDIA: The private sector will soon be able to mine coal and sell it to power plants, steel mills and other users, ending the decades-old monopoly of the company and its affiliates, marking a long-expected reform aimed at boosting investment and output.
* DILIP BUILDCON: The company bid 3.8 bln rupees for engineering, procurement, and construction for two-laning on national highway-4A in Karnataka.
* ELECTROSTEEL STEELS: SCIIL Steel Cast Iron Investments (Cyprus) has sold 2.33% stake or 56.26 mln shares in the company through the open market.
* FORTIS HEALTHCARE: The lenders to the company's two promoter entities and another company have invoked their pledge on shares of the company totaling 46.98 mln shares.
* GITANJALI GEMS: The Delhi High Court has asked the Delhi Police to investigate allegations of fraud against Mehul Choksi and the company and file a status report before May 3 when the case comes up for hearing next. The Income Tax Department raided 20 premises linked to the company's promoter Mehul Choksi and suspected shell firms in connection with an alleged tax evasion case against them.
* HOUSING DEVELOPMENT FINANCE CORP: Has disbursed 28 bln rupees loans to 14,290 home-buyers under the Pradhan Mantri Awas Yojna (Urban) so far, which entails a central subsidy of 3.02 bln rupees.
* IDBI BANK: Has raised about 11 bln rupees by selling its entire 30% stake in NSDL e-Governance
Infrastructure to IIFL Wealth Management.
* INDIABULLS REAL ESTATE: Blackstone Group is set to buy a 49% stake in the office rental business of the company in a $600 mln-$650 mln deal, valuing the entire portfolio at around $1.2 bln.
* INDIAN BANK: Is set to infuse 50 mln rupees, initially, as part of its efforts to revive mortgage lending arm IND BANK HOUSING, Kishor Kharat, managing director and chief executive officer, said.
* INFOSYS: Has launched a joint internet of things centre of excellence along with PTC Inc at the company's campus in Bengaluru.
* INTERGLOBE AVIATION: Has moved the Supreme Court after the Delhi High Court rejected its petition against an order to shift some operation of its IndiGo Airlines to Terminal 2 of the Delhi airport.
* LARSEN & TOUBRO: The government should attract more investment into the defence sector, as well as hasten decision-making, to help meet the needs of the armed forces, said Jayant Patil, whole-time director and head of defence business at the company.
* MAX INDIA: The company's joint-venture partner in Max Healthcare Institute, Life Healthcare Holdings, South Africa, has initiated discussions with the company to explore sale of its stake in Max Healthcare Institute to the company.
* NTPC: Plans to invite bids within a month to acquire hydropower units with a combined generation capacity of up to 1,000 MW, Chairman and Managing Director Gurdeep Singh said.
* PNB HOUSING FINANCE: A subsidiary of PUNJAB NATIONAL BANK, plans to raise $400 mln (about 25.60 bln rupees) through masala bonds to fund the building of affordable houses.
* PUNJAB NATIONAL BANK: The Hong Kong Monetary Authority said it works closely with overseas authorities in conducting supervisory work, without going into specifics, amid media reports that it has sought a status report from some branches of Indian banks on the alleged $1.77-bln fraud involving the bank.
-Global ratings agency Moody's Investors Service has put the bank under review for downgrade, citing the likely financial hit that the bank will have to take from the reported $1.77-bln fraud.
-In his first comments after the discovery of the massive $1.77-bln fraud at Punjab National Bank, Finance Minister Arun Jaitley slammed the senior management of public sector banks, saying they were "found lacking".
-Income tax officials on Tuesday questioned the bank's Managing Director and Chief Executive Officer Sunil Mehta in the 114-bln-rupee scam allegedly involving Nirav Modi and the Mehul Choksi group of companies.
-Jeweller Nirav Modi, said to be behind the alleged 114-bln-rupee fraud involving the bank, has told
employees that he will be unable to pay them and that the future appears uncertain.
-The Central Bureau of Investigation on Tuesday arrested Vipul Ambani, the president (finance) of Nirav Modi's Firestar Diamond, in connection with the 114-bln-rupee bank fraud, making it the first high-profile arrest in the case, officials said.
-The bank and two other banks are sitting over the Central Vigilance Commission multiple requests seeking sanction to prosecute nine of their senior officers allegedly involved in corruption, reveals data from the anti-corruption watchdog.
-The bank, facing a 114-bln-rupee scandal, may have to honour at least a substantial part of its commitment on the letters of undertakings and foreign letters of credit illegally issued to firms of celebrity jeweller Nirav Modi and his uncle Mehul Choksi by one of the bank's employees by abusing its SWIFT interbank system.
* RELIANCE COMMUNICATIONS: Reliance Infratel, the telecom tower arm of the company, has agreed to share details of a deal to sell its assets to Reliance Jio Infocomm, after minority shareholder HSBC Daisy Investments (Mauritius) approached the National Company Law Tribunal seeking redress.
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm's entry into the telecom sector did not substantially increase the number of unique internet users in India, but only added to the total number of subscriptions, Kantar IMRB said. Subsidiary and EROS INTERNATIONAL MEDIA have entered into a joint venture to produce, acquire Indian films, and original digital content across all languages.
* SKF INDIA: HDFC Mutual Fund bought 2.07% stake or 991,779 shares in the company from the open market on Monday.
* TATA STEEL: Plans to raise up to $800 mln-$900 mln through overseas borrowings to replace expensive debt and to raise cash for buying stressed local mills.
* WEIZMANN FOREX: Has revoked its Oct 31 decision to demerge the wind power division to group entity Karma Energy, and instead approved the decision to raise funds by issuing securities.
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* APL APOLLO TUBES: Has installed the rooftop solar plants at its Murbad and Sikandarabad
manufacturing facilities with a capacity of 1.30 MW and 1.20 MW, respectively.
* ATUL AUTO: HDFC Mutual Fund bought 2.06% stake or 452,563 shares of the company from the open market on Monday.
* AXIS BANK: Has revised interest rates on retail and bulk deposits, effective Feb 3.
* BANK OF INDIA: The bank has approved allotment of 136.5 mln shares worth 22.57 bln rupees at 165.32 rupees a share to the government on a preferential basis.
* BANK OF MAHARASHTRA: Has decided to exercise call options on two of its additional tier-I bonds on Mar 17, much ahead of their call date.
* BHARTI AIRTEL: Terming the appeal filed by the Reliance Jio Infocomm 'misconceived and frivolous", the company has told the Supreme Court that The Telecom Regulator Authority of India must take action against the Mukesh Ambani company for misutilising 'the test phase' by offering free services prior to the commercial launch so as to create "illegal" subscriber base of more than six mln.
* BHUSHAN STEEL: After conveying its intent last week to be allowed to participate as a late bidder for Bhushan Power and Steel, UK-based Liberty House submitted a bid on Tuesday to the resolution professional.
* BINANI INDUSTRIES: Promoters of Binani Cement, has questioned the insolvency process of the cement company by valuing it at 173 bln rupees, which includes mining rights of 117 bln rupees, against bids of around 63 bln rupees received from DALMIA BHARAT and ULTRATECH CEMENT.
* CAPITAL FIRST: The proposed merger of the company and its subsidiaries with IDFC BANK has crossed the first regulatory hurdle, with National Housing Bank indicating it has no objection to the merger as long it meets all legal requirements.
* CENTRAL BANK OF INDIA: The capital raising committee of the board of the bank will meet on Friday to consider raising up to 48.35 bln rupees through the issue of shares to the government on a preferential basis.
* COAL INDIA: The private sector will soon be able to mine coal and sell it to power plants, steel mills and other users, ending the decades-old monopoly of the company and its affiliates, marking a long-expected reform aimed at boosting investment and output.
* DILIP BUILDCON: The company bid 3.8 bln rupees for engineering, procurement, and construction for two-laning on national highway-4A in Karnataka.
* ELECTROSTEEL STEELS: SCIIL Steel Cast Iron Investments (Cyprus) has sold 2.33% stake or 56.26 mln shares in the company through the open market.
* FORTIS HEALTHCARE: The lenders to the company's two promoter entities and another company have invoked their pledge on shares of the company totaling 46.98 mln shares.
* GITANJALI GEMS: The Delhi High Court has asked the Delhi Police to investigate allegations of fraud against Mehul Choksi and the company and file a status report before May 3 when the case comes up for hearing next. The Income Tax Department raided 20 premises linked to the company's promoter Mehul Choksi and suspected shell firms in connection with an alleged tax evasion case against them.
* HOUSING DEVELOPMENT FINANCE CORP: Has disbursed 28 bln rupees loans to 14,290 home-buyers under the Pradhan Mantri Awas Yojna (Urban) so far, which entails a central subsidy of 3.02 bln rupees.
* IDBI BANK: Has raised about 11 bln rupees by selling its entire 30% stake in NSDL e-Governance
Infrastructure to IIFL Wealth Management.
* INDIABULLS REAL ESTATE: Blackstone Group is set to buy a 49% stake in the office rental business of the company in a $600 mln-$650 mln deal, valuing the entire portfolio at around $1.2 bln.
* INDIAN BANK: Is set to infuse 50 mln rupees, initially, as part of its efforts to revive mortgage lending arm IND BANK HOUSING, Kishor Kharat, managing director and chief executive officer, said.
* INFOSYS: Has launched a joint internet of things centre of excellence along with PTC Inc at the company's campus in Bengaluru.
* INTERGLOBE AVIATION: Has moved the Supreme Court after the Delhi High Court rejected its petition against an order to shift some operation of its IndiGo Airlines to Terminal 2 of the Delhi airport.
* LARSEN & TOUBRO: The government should attract more investment into the defence sector, as well as hasten decision-making, to help meet the needs of the armed forces, said Jayant Patil, whole-time director and head of defence business at the company.
* MAX INDIA: The company's joint-venture partner in Max Healthcare Institute, Life Healthcare Holdings, South Africa, has initiated discussions with the company to explore sale of its stake in Max Healthcare Institute to the company.
* NTPC: Plans to invite bids within a month to acquire hydropower units with a combined generation capacity of up to 1,000 MW, Chairman and Managing Director Gurdeep Singh said.
* PNB HOUSING FINANCE: A subsidiary of PUNJAB NATIONAL BANK, plans to raise $400 mln (about 25.60 bln rupees) through masala bonds to fund the building of affordable houses.
* PUNJAB NATIONAL BANK: The Hong Kong Monetary Authority said it works closely with overseas authorities in conducting supervisory work, without going into specifics, amid media reports that it has sought a status report from some branches of Indian banks on the alleged $1.77-bln fraud involving the bank.
-Global ratings agency Moody's Investors Service has put the bank under review for downgrade, citing the likely financial hit that the bank will have to take from the reported $1.77-bln fraud.
-In his first comments after the discovery of the massive $1.77-bln fraud at Punjab National Bank, Finance Minister Arun Jaitley slammed the senior management of public sector banks, saying they were "found lacking".
-Income tax officials on Tuesday questioned the bank's Managing Director and Chief Executive Officer Sunil Mehta in the 114-bln-rupee scam allegedly involving Nirav Modi and the Mehul Choksi group of companies.
-Jeweller Nirav Modi, said to be behind the alleged 114-bln-rupee fraud involving the bank, has told
employees that he will be unable to pay them and that the future appears uncertain.
-The Central Bureau of Investigation on Tuesday arrested Vipul Ambani, the president (finance) of Nirav Modi's Firestar Diamond, in connection with the 114-bln-rupee bank fraud, making it the first high-profile arrest in the case, officials said.
-The bank and two other banks are sitting over the Central Vigilance Commission multiple requests seeking sanction to prosecute nine of their senior officers allegedly involved in corruption, reveals data from the anti-corruption watchdog.
-The bank, facing a 114-bln-rupee scandal, may have to honour at least a substantial part of its commitment on the letters of undertakings and foreign letters of credit illegally issued to firms of celebrity jeweller Nirav Modi and his uncle Mehul Choksi by one of the bank's employees by abusing its SWIFT interbank system.
* RELIANCE COMMUNICATIONS: Reliance Infratel, the telecom tower arm of the company, has agreed to share details of a deal to sell its assets to Reliance Jio Infocomm, after minority shareholder HSBC Daisy Investments (Mauritius) approached the National Company Law Tribunal seeking redress.
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm's entry into the telecom sector did not substantially increase the number of unique internet users in India, but only added to the total number of subscriptions, Kantar IMRB said. Subsidiary and EROS INTERNATIONAL MEDIA have entered into a joint venture to produce, acquire Indian films, and original digital content across all languages.
* SKF INDIA: HDFC Mutual Fund bought 2.07% stake or 991,779 shares in the company from the open market on Monday.
* TATA STEEL: Plans to raise up to $800 mln-$900 mln through overseas borrowings to replace expensive debt and to raise cash for buying stressed local mills.
* WEIZMANN FOREX: Has revoked its Oct 31 decision to demerge the wind power division to group entity Karma Energy, and instead approved the decision to raise funds by issuing securities.
