Today Stock News – 27.02.2018
* A2Z INFRA ENGINEERING: As part of settlement agreements between the company and Standard Chartered Bank, promoter Mestric Consultants has entered into a pre-emptive option agreement to purchase shares held by the bank in the company for 300 mln rupees.
* AMBUJA CEMENTS: Is currently not pursuing a merger with ACC because of "some constraints", though that remains the final goal.
* AMTEK AUTO: Creditors of the company are considering a proposal to sell the company along with its units, following a lukewarm response to the first round of bidding when it was offered as a stand-alone asset.
* APOLLO HOSPITALS ENTERPRISE: Is in talks with the US-based technology firm IBM to create a fund of $50 mln-$100 mln for start-ups.
* BAJAJ HINDUSTHAN SUGAR: The Uttar Pradesh government has issued recovery certificates against five sugar mills, including the company and SIMBHAOLI SUGAR MILLS, for non-payment of cane dues to farmers, an official with the state's cane department said.
* BERGER PAINTS INDIA: Plans to set up an integrated paint plant at Sandila Industrial Area near
Lucknow in Uttar Pradesh.
* CENTUM ELECTRONICS: The board has approved the sale of 51% stake in Centum Rakon India to Rakon or its affiliates for $5.5 mln, subject to approval of shareholders.
* COFFEE DAY ENTERPRISES: KKR Mauritius PE Investments II sold 5.91% stake or 12.5 mln shares in the company through a bulk deal on the National Stock Exchange.
* EROS INTERNATIONAL MEDIA: Arm Eros Now said it will be building its content platform around the parent firm's content library of Bollywood titles, besides creating a slew of originals.
* FORTIS HEALTHCARE: BNP Paribas Arbitrage fund has bought 0.83% stake or 4.02 mln shares of the company at 157.59 rupees apiece on the National Stock Exchange.
* GITANJALI GEMS: Independent director Anil Umesh Haldipur resigned on Feb 14 due to personal reasons.
* GUJARAT SIDHEE CEMENT: Commissioned a 5.5 MW waste heat recovery power plant Sunday.
* HEXAWARE TECHNOLOGIES: Has announced the integration of its population health platform--
CarrotCube--on Salesforce's Health Cloud.
* HDFC BANK: Will continue to work closely with the Securities and Exchange Board of India on the inquiry into the leak of unpublished price-sensitive information.
* HINDUSTAN COPPER: Is planning to venture into the extraction of gold and silver from the copper ore reverts at Malanjkhand in Madhya Pradesh.
* HINDUSTAN UNILEVER: The Directorate General of Safeguards has sought clarification from the company on the methodology used to arrive at 1.19 bln rupees that the company offered to the government after it could not pass on the entire benefits of GST.
* INDIAN OVERSEAS BANK: Will, at an extraordinary general meeting on Mar 28, seek the approval of shareholders for a preferential issue of equity shares worth up to 46.94 bln rupees to the central government.
* JSW STEEL: The first of the 12 big non-performing loans referred by the RBI for resolution under the Insolvency and Bankruptcy Code last year has reached closure with the committee of creditors approving the offer made by a consortium of Aion Capital and the company for MONNET ISPAT & ENERGY.
* MAHINDRA & MAHINDRA: The company has collaborated with LG Chem, which will develop a unique cell exclusively for Indian application, and supply lithium-ion cells to be deployed in the M&M and SsangYong range of electric vehicles.
-Plans to invest 8 bln rupees towards product development and capacity expansion in its electric vehicle business, aims to double its portfolio and bring on road at least four new models in the segment in the next three years.
-Is set to give Ford its cheapest electric car globally, while the two companies have also started work on a new platform to develop an SUV that would be sold under their individual branding.
* NATIONAL ALUMINIUM CO: Raised the prices of aluminium ingots and sow ingots by more than 3% on Saturday.
* NESTLE INDIA: Has kicked off a regional, cluster approach for brands, marketing and activation to fasttrack growth and has identified enhanced nutrition as a core focus area, Chairman Suresh Narayanan said.
* OIL AND NATURAL GAS CORP: Has said it may miss the June 2019 target for starting production from its Krishna Godavari basin block due to new policies like goods and service tax and local purchase preference rules, including the one that mandates state-owned firms to source domestic iron and steel for infrastructure project.
* PC JEWELLER: FMR LLC, along with its direct and indirect subsidiaries, bought 2.48 mln shares or 0.63% stake in the company through open market on Thursday.
* POWER FINANCE CORP: For 2017-18 (Apr-Mar), the board has declared second interim dividend of 1.80 rupees apiece.
* PUNJAB NATIONAL BANK: In a board meeting, the first after detecting a $1.77 bln fraud earlier this month, the members discussed various measures needed to recover dues from stressed assets in general, as well from entities involved in the fraud.
-Says unauthorised transactions can increase by $204.25 mln. The company had reported $1.77-bln fraud at a Mumbai branch on Feb 14.
-The Central Bureau of Investigation sleuths probing the bank fraud on Monday questioned three general managers and the auditors of the bank.
* PVV INFRA: Aspire Emerging Fund bought 132,129 shares or 2.6% stake in the company through open market on Friday.
* RELIANCE INDUSTRIES: Arm Reliance Jio Infocomm criticised Cellular Operators Association of India, which represents all major telecom company's, and its director general Rajan Mathews for not apologising and reiterated that it had the option of battling out the matter in courts.
-A government oversight panel approved $4-bln investment plan of the company and BP for developing three sets of natural gas discoveries in the KG-D6 block in the Bay of Bengal.
* RURAL ELECTRIFICATION CORP: Plans to issue bonds maturing in September 2019 and has sought bids from merchant bankers between 1100 IST and 1115 IST on Tuesday, according to sources.
* SAGAR CEMENTS: The board has approved the acquisition of entire assets of two mini hydel power plants for a sum not exceeding 269 mln rupees.
* SPHERE GLOBAL SERVICES: Has entered into a partnership with SAP India as a value-added reseller to deliver SAP India's products and support services through one consolidated framework.
* TATA MOTORS: Is likely to undertake another price hike in the passenger vehicle segment in the current quarter ending March due to the rising costs of raw materials.
* TATA POWER CO: ICICI Prudential Mutual Fund along with Eastspring Investments (Singapore) and Jackson National Asset Management LLC sold 1.89 mln shares or 0.07% stake in the company through the secondary market on Thursday.
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* AMBUJA CEMENTS: Is currently not pursuing a merger with ACC because of "some constraints", though that remains the final goal.
* AMTEK AUTO: Creditors of the company are considering a proposal to sell the company along with its units, following a lukewarm response to the first round of bidding when it was offered as a stand-alone asset.
* APOLLO HOSPITALS ENTERPRISE: Is in talks with the US-based technology firm IBM to create a fund of $50 mln-$100 mln for start-ups.
* BAJAJ HINDUSTHAN SUGAR: The Uttar Pradesh government has issued recovery certificates against five sugar mills, including the company and SIMBHAOLI SUGAR MILLS, for non-payment of cane dues to farmers, an official with the state's cane department said.
* BERGER PAINTS INDIA: Plans to set up an integrated paint plant at Sandila Industrial Area near
Lucknow in Uttar Pradesh.
* CENTUM ELECTRONICS: The board has approved the sale of 51% stake in Centum Rakon India to Rakon or its affiliates for $5.5 mln, subject to approval of shareholders.
* COFFEE DAY ENTERPRISES: KKR Mauritius PE Investments II sold 5.91% stake or 12.5 mln shares in the company through a bulk deal on the National Stock Exchange.
* EROS INTERNATIONAL MEDIA: Arm Eros Now said it will be building its content platform around the parent firm's content library of Bollywood titles, besides creating a slew of originals.
* FORTIS HEALTHCARE: BNP Paribas Arbitrage fund has bought 0.83% stake or 4.02 mln shares of the company at 157.59 rupees apiece on the National Stock Exchange.
* GITANJALI GEMS: Independent director Anil Umesh Haldipur resigned on Feb 14 due to personal reasons.
* GUJARAT SIDHEE CEMENT: Commissioned a 5.5 MW waste heat recovery power plant Sunday.
* HEXAWARE TECHNOLOGIES: Has announced the integration of its population health platform--
CarrotCube--on Salesforce's Health Cloud.
* HDFC BANK: Will continue to work closely with the Securities and Exchange Board of India on the inquiry into the leak of unpublished price-sensitive information.
* HINDUSTAN COPPER: Is planning to venture into the extraction of gold and silver from the copper ore reverts at Malanjkhand in Madhya Pradesh.
* HINDUSTAN UNILEVER: The Directorate General of Safeguards has sought clarification from the company on the methodology used to arrive at 1.19 bln rupees that the company offered to the government after it could not pass on the entire benefits of GST.
* INDIAN OVERSEAS BANK: Will, at an extraordinary general meeting on Mar 28, seek the approval of shareholders for a preferential issue of equity shares worth up to 46.94 bln rupees to the central government.
* JSW STEEL: The first of the 12 big non-performing loans referred by the RBI for resolution under the Insolvency and Bankruptcy Code last year has reached closure with the committee of creditors approving the offer made by a consortium of Aion Capital and the company for MONNET ISPAT & ENERGY.
* MAHINDRA & MAHINDRA: The company has collaborated with LG Chem, which will develop a unique cell exclusively for Indian application, and supply lithium-ion cells to be deployed in the M&M and SsangYong range of electric vehicles.
-Plans to invest 8 bln rupees towards product development and capacity expansion in its electric vehicle business, aims to double its portfolio and bring on road at least four new models in the segment in the next three years.
-Is set to give Ford its cheapest electric car globally, while the two companies have also started work on a new platform to develop an SUV that would be sold under their individual branding.
* NATIONAL ALUMINIUM CO: Raised the prices of aluminium ingots and sow ingots by more than 3% on Saturday.
* NESTLE INDIA: Has kicked off a regional, cluster approach for brands, marketing and activation to fasttrack growth and has identified enhanced nutrition as a core focus area, Chairman Suresh Narayanan said.
* OIL AND NATURAL GAS CORP: Has said it may miss the June 2019 target for starting production from its Krishna Godavari basin block due to new policies like goods and service tax and local purchase preference rules, including the one that mandates state-owned firms to source domestic iron and steel for infrastructure project.
* PC JEWELLER: FMR LLC, along with its direct and indirect subsidiaries, bought 2.48 mln shares or 0.63% stake in the company through open market on Thursday.
* POWER FINANCE CORP: For 2017-18 (Apr-Mar), the board has declared second interim dividend of 1.80 rupees apiece.
* PUNJAB NATIONAL BANK: In a board meeting, the first after detecting a $1.77 bln fraud earlier this month, the members discussed various measures needed to recover dues from stressed assets in general, as well from entities involved in the fraud.
-Says unauthorised transactions can increase by $204.25 mln. The company had reported $1.77-bln fraud at a Mumbai branch on Feb 14.
-The Central Bureau of Investigation sleuths probing the bank fraud on Monday questioned three general managers and the auditors of the bank.
* PVV INFRA: Aspire Emerging Fund bought 132,129 shares or 2.6% stake in the company through open market on Friday.
* RELIANCE INDUSTRIES: Arm Reliance Jio Infocomm criticised Cellular Operators Association of India, which represents all major telecom company's, and its director general Rajan Mathews for not apologising and reiterated that it had the option of battling out the matter in courts.
-A government oversight panel approved $4-bln investment plan of the company and BP for developing three sets of natural gas discoveries in the KG-D6 block in the Bay of Bengal.
* RURAL ELECTRIFICATION CORP: Plans to issue bonds maturing in September 2019 and has sought bids from merchant bankers between 1100 IST and 1115 IST on Tuesday, according to sources.
* SAGAR CEMENTS: The board has approved the acquisition of entire assets of two mini hydel power plants for a sum not exceeding 269 mln rupees.
* SPHERE GLOBAL SERVICES: Has entered into a partnership with SAP India as a value-added reseller to deliver SAP India's products and support services through one consolidated framework.
* TATA MOTORS: Is likely to undertake another price hike in the passenger vehicle segment in the current quarter ending March due to the rising costs of raw materials.
* TATA POWER CO: ICICI Prudential Mutual Fund along with Eastspring Investments (Singapore) and Jackson National Asset Management LLC sold 1.89 mln shares or 0.07% stake in the company through the secondary market on Thursday.
