Today Stock News – 15.11.2018
* ALKEM LABORATORIES: The US Food and Drug Administration has issued no observations to the company's bioequivalence facility in Taloja, Maharashtra, after its inspection concluded Wednesday.
* APOLLO HOSPITALS ENTERPRISE: The board of the company on Wednesday approved the de-merger of its retail pharmacy business by transferring the business to a separate company--Apollo Pharmacies-- through a slump sale.
* BAYER CROPSCIENCE: Has approved the appointment of Duraiswami Narain as the vice chairman, and managing director and chief executive officer of the company, effective Dec 1.
* CG POWER AND INDUSTRIAL SOLUTIONS: WGI Emerging Markets Smaller Companies Fund LLC has sold 0.5% stake or 3.40 mln shares of the company at 35.03 rupees per share through a bulk deal on the National Stock Exchange.
* COFFEE DAY ENTERPRISES: The board has discussed potential restructuring of the businesses whereby the non-core operations of the company and its subsidiaries will be hived off.
* EICHER: Royal Enfield launched its first-ever modern twin-cylinder engine motorcycles, the Interceptor 650 and the Continental GT Twin 650.
* GUJARAT FLUOROCHEMICALS: The board has approved demerging the company's chemicals business into a new entity.
* HAVELLS INDIA: Has come out with a new range of intelligent fans to be introduced as a part of its 2019 line-up.
* ICICI BANK: Will increase the interest rates on some retail term deposits by 10-25 basis points, effective Thursday.
* IDBI BANK: Aims to recover 17 bln rupees from its exposure to Binani group companies, including corporate guarantees.
* INDIAN HOTELS CO: Plans to monetise around 10 properties in the next three years as part of a larger plan to bring down its debt and fund its future growth.
* ITC: In order to compete with the launch of new salty snacks by PepsiCo India Holdings, the company will launch its own 'traditional flavours' snack under its Bingo! brand soon.
* JAMMU & KASHMIR BANK: The Reserve Bank of India has imposed a 30-mln-rupee penalty on the bank for non-compliance with the central bank's directions on income recognition and asset classification, and know-your-customer and anti-money laundering norms.
* JET AIRWAYS INDIA: The Tata group and the company are inching towards a two-step transaction, the first leg of which could see the merger of the company with Tata SIA Airlines, the joint venture between Tatas and Singapore Airlines that operates Vistara. The second step of the deal could involve the purchase of the Goyal family's stake in the combined entity by Singapore Airlines.
* JSW STEEL: Has decided to bid for all the distressed large steel and downstream companies in future with the focus on evaluating their worthiness at the final stage.
* KIRLOSKAR BROTHERS: The Securities and Exchange Board of India is probing insider trading charges against some of the promoters of the company.
* KOTAK MAHINDRA BANK: Dutch lender ING Group NV is selling the rest of its stake in the bank in a deal that could be valued at 76 bln rupees.
* LARSEN & TOUBRO: RITES has started leasing locomotives to the company, which uses them to haul material for building the dedicated rail freight corridor.
* LIC HOUSING FINANCE: Plans to sell non-convertible debentures worth at least 12.5 rupees and has invited bids on Friday.
* MAHINDRA HOLIDAYS & RESORTS INDIA: The company, through its step-down subsidiary Covington S.a.r.l, Luxembourg (Covington), has increased its stake in Holiday Club Resort Oy, Finland, by 0.18% to 96.47% for 3 mln euro (around 244.56 mln rupees).
* NESTLE INDIA: Amid mounting concerns over the impact of plastic on the environment, the company has started a returns programme for its flagship product Maggi noodles.
* NHPC: The board has approved buying back 214.29 mln shares at 28 rupees apiece, for an aggregate amount of 6 bln rupees, through the tender-offer route.
* NTPC: Coal supply shortage continues to haunt the company, with latest government data showing 31% of the company's coal-based capacity is running with 'hand to mouth' coal stock.
* OIL & NATURAL GAS CORP: ONGC Videsh, a wholly-owned subsidiary of the company, has reported a 13.84-bln-rupee consolidated net profit for the first half of 2018-19 (Apr-Mar), which is over 9.7 times the 1.42 bln rupees consolidated net profit reported by the company in the same six month period of the preceding financial year. Has said it would either buy back government shares in the company or pay interim dividend.
* PARNAX LAB: Has settled proceedings with SEBI in connection with alleged violation of listing norms on payment of over 1 mln rupees towards settlement charges.
* PODDAR HOUSING AND DEVELOPMENT: The board has approved raising up to 4 bln rupees through issuance of non-convertible secured redeemable debentures.
* RANE HOLDINGS: Has entered into an agreement to divest its entire 48.97% stake in JMA Rane
Marketing, a joint venture company, for 120 mln rupees.
* RPP INFRA PROJECTS: Has received an order worth 1.56 bln rupees from the Tamil Nadu government for combined water supply schemes in several towns in Erode and Tiruppur Districts.
* SPICEJET: Said that Indian airlines will soon start making money due to fall in crude prices and a stronger rupee.
* TATA MOTORS: A senior official of the company accused of sexual misconduct has been relieved from services with immediate effect, according to an internal company memo.
* TATA POWER CO: Renascent Power Ventures, a joint venture between the company and ICICI BANK, will acquire 75.01% stake in Prayagraj Power Generation Co.
* UJJIVAN FINANCIAL SERVICES: Ujjivan Small Finance Bank may issue up to 60% of its bonus shares to existing shareholders of the company.
* VODAFONE IDEA: Plans to raise up to 250 bln rupees through infusion of fresh equity into the company.
* YES BANK: Non-Executive Chairman Ashok Chawla resigned from the board.
* ZEE ENTERTAINMENT ENTERPRISES: The promoters of the company hinted they could be open to a bigger share sale, just a day after unveiling plans to divest up to half of their holding in India's satellite broadcasting pioneer.
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* APOLLO HOSPITALS ENTERPRISE: The board of the company on Wednesday approved the de-merger of its retail pharmacy business by transferring the business to a separate company--Apollo Pharmacies-- through a slump sale.
* BAYER CROPSCIENCE: Has approved the appointment of Duraiswami Narain as the vice chairman, and managing director and chief executive officer of the company, effective Dec 1.
* CG POWER AND INDUSTRIAL SOLUTIONS: WGI Emerging Markets Smaller Companies Fund LLC has sold 0.5% stake or 3.40 mln shares of the company at 35.03 rupees per share through a bulk deal on the National Stock Exchange.
* COFFEE DAY ENTERPRISES: The board has discussed potential restructuring of the businesses whereby the non-core operations of the company and its subsidiaries will be hived off.
* EICHER: Royal Enfield launched its first-ever modern twin-cylinder engine motorcycles, the Interceptor 650 and the Continental GT Twin 650.
* GUJARAT FLUOROCHEMICALS: The board has approved demerging the company's chemicals business into a new entity.
* HAVELLS INDIA: Has come out with a new range of intelligent fans to be introduced as a part of its 2019 line-up.
* ICICI BANK: Will increase the interest rates on some retail term deposits by 10-25 basis points, effective Thursday.
* IDBI BANK: Aims to recover 17 bln rupees from its exposure to Binani group companies, including corporate guarantees.
* INDIAN HOTELS CO: Plans to monetise around 10 properties in the next three years as part of a larger plan to bring down its debt and fund its future growth.
* ITC: In order to compete with the launch of new salty snacks by PepsiCo India Holdings, the company will launch its own 'traditional flavours' snack under its Bingo! brand soon.
* JAMMU & KASHMIR BANK: The Reserve Bank of India has imposed a 30-mln-rupee penalty on the bank for non-compliance with the central bank's directions on income recognition and asset classification, and know-your-customer and anti-money laundering norms.
* JET AIRWAYS INDIA: The Tata group and the company are inching towards a two-step transaction, the first leg of which could see the merger of the company with Tata SIA Airlines, the joint venture between Tatas and Singapore Airlines that operates Vistara. The second step of the deal could involve the purchase of the Goyal family's stake in the combined entity by Singapore Airlines.
* JSW STEEL: Has decided to bid for all the distressed large steel and downstream companies in future with the focus on evaluating their worthiness at the final stage.
* KIRLOSKAR BROTHERS: The Securities and Exchange Board of India is probing insider trading charges against some of the promoters of the company.
* KOTAK MAHINDRA BANK: Dutch lender ING Group NV is selling the rest of its stake in the bank in a deal that could be valued at 76 bln rupees.
* LARSEN & TOUBRO: RITES has started leasing locomotives to the company, which uses them to haul material for building the dedicated rail freight corridor.
* LIC HOUSING FINANCE: Plans to sell non-convertible debentures worth at least 12.5 rupees and has invited bids on Friday.
* MAHINDRA HOLIDAYS & RESORTS INDIA: The company, through its step-down subsidiary Covington S.a.r.l, Luxembourg (Covington), has increased its stake in Holiday Club Resort Oy, Finland, by 0.18% to 96.47% for 3 mln euro (around 244.56 mln rupees).
* NESTLE INDIA: Amid mounting concerns over the impact of plastic on the environment, the company has started a returns programme for its flagship product Maggi noodles.
* NHPC: The board has approved buying back 214.29 mln shares at 28 rupees apiece, for an aggregate amount of 6 bln rupees, through the tender-offer route.
* NTPC: Coal supply shortage continues to haunt the company, with latest government data showing 31% of the company's coal-based capacity is running with 'hand to mouth' coal stock.
* OIL & NATURAL GAS CORP: ONGC Videsh, a wholly-owned subsidiary of the company, has reported a 13.84-bln-rupee consolidated net profit for the first half of 2018-19 (Apr-Mar), which is over 9.7 times the 1.42 bln rupees consolidated net profit reported by the company in the same six month period of the preceding financial year. Has said it would either buy back government shares in the company or pay interim dividend.
* PARNAX LAB: Has settled proceedings with SEBI in connection with alleged violation of listing norms on payment of over 1 mln rupees towards settlement charges.
* PODDAR HOUSING AND DEVELOPMENT: The board has approved raising up to 4 bln rupees through issuance of non-convertible secured redeemable debentures.
* RANE HOLDINGS: Has entered into an agreement to divest its entire 48.97% stake in JMA Rane
Marketing, a joint venture company, for 120 mln rupees.
* RPP INFRA PROJECTS: Has received an order worth 1.56 bln rupees from the Tamil Nadu government for combined water supply schemes in several towns in Erode and Tiruppur Districts.
* SPICEJET: Said that Indian airlines will soon start making money due to fall in crude prices and a stronger rupee.
* TATA MOTORS: A senior official of the company accused of sexual misconduct has been relieved from services with immediate effect, according to an internal company memo.
* TATA POWER CO: Renascent Power Ventures, a joint venture between the company and ICICI BANK, will acquire 75.01% stake in Prayagraj Power Generation Co.
* UJJIVAN FINANCIAL SERVICES: Ujjivan Small Finance Bank may issue up to 60% of its bonus shares to existing shareholders of the company.
* VODAFONE IDEA: Plans to raise up to 250 bln rupees through infusion of fresh equity into the company.
* YES BANK: Non-Executive Chairman Ashok Chawla resigned from the board.
* ZEE ENTERTAINMENT ENTERPRISES: The promoters of the company hinted they could be open to a bigger share sale, just a day after unveiling plans to divest up to half of their holding in India's satellite broadcasting pioneer.
