Today Stock News – 20.11.2018
* 20 MICRONS: Damani Shipping has filed a plea with the National Company Law Tribunal seeking 4.7 mln rupees, including interest of 18%, from the company.
* ABBOTT INDIA: The Delhi High Court has quashed a petition by US drug maker Abbott, the company wanted to stall a probe by the Indian antitrust authorities into allegations of price cartelisation over a key diabetes drug.
* BHARTI AIRTEL: Aims to increase customer stickiness to its network through partnerships with
content platforms such as Netflix, Amazon Prime, and Hooq, the telecom operator said in an investor presentation. Is unlikely to pitch for expensive 5G airwaves in any potential early spectrum sale as it feels deployment of this ultra-fast wireless technology is three to four years away in India in the absence of suitable use-cases or a compatible devices ecosystem.
* BLS INTERNATIONAL SERVICES: Has introduced a new 'Premium Lounge' service in London, as well as mobile biometric enrolment services across the UK for UK Visas and Immigration.
* FORTIS MALAR HOSPITALS: Chief financial officer Vijayasarathy Desikan has resigned effective Jan 15.
* FUTURE ENTERPRISES: Has acquired entire stake in Ritvika Trading.
* GAIL (INDIA): Gujarat Energy Transmission Corp and the company have joined the ranks of a clutch of operational creditors seeking rejection of ArcelorMittal's 420-bln-rupee resolution plan for Essar Steel unless their claims are added to the proposal.
* HEG: Board will meet on Nov 26 to consider a buyback of shares.
* HOUSING DEVELOPMENT FINANCE CORP: Has raised 5 bln rupees through 5-year-1-day rupeedenominated bonds, or masala bonds, under the company's medium-term note programme.
* ICICI BANK: Has drawn up a plan to raise as much as 250 bln rupees for on-lending as India's second largest private lender seeks to fill in the vacuum left by non-banking financial companies, which are facing a liquidity squeeze.
* JET AIRWAYS INDIA: Pilots have threatened to not perform additional duties from next month if their salary dues are not cleared by Nov 30.
* KRIDHAN INFRA: The company's Singapore-based subsidiary Swee Hong has received an order worth 1.95 bln rupees.
* MAHINDRA & MAHINDRA: The company's arm, Mahindra Electric Mobility, signed an agreement with Three Wheels United to finance and accelerate deployment of 2,000 Treo electric three-wheelers across the country by 2019.
* MINDTREE: Is betting on artificial intelligence and investing in software solutions that it can offer to customers on subscription basis in anticipation of a disruption in the services business over the next five years.
* NMDC: Has said the Karnataka government cabinet is yet to decide on the cancellation of lease rights awarded to the company for the Donimalai iron ore mine.
* NTPC: Seems to have failed to make much use of COAL INDIA's offer to lift an additional 5 mln tn of the fuel from mines.
* OIL INDIA: The board has approved a proposal to buy back up to 50.5 mln shares at 215 rupees apiece for an aggregate consideration not exceeding 10.86 bln rupees. The board has also approved the issue of debt securities for an aggregate principal amount not exceeding 40 bln rupees or an equivalent amount in foreign currency.
* PSP PROJECTS: Has received institutional and industrial projects worth 3.72 bln rupees from various clients.
* RELIANCE INDUSTRIES: Is considering a plan to boost its oil refining capacity by about a half. The plant of the size planned by the company may cost $10 bln.
* SOUTH INDIAN BANK: Will hike its marginal cost of funds-based lending rates by 10 basis points, across tenures, from Tuesday.
* SRF: The company's technical textiles business in Tamil Nadu has been impacted by cyclone Gaja.
* STATE BANK OF INDIA: SBICAP Ventures has launched two private equity funds for investing in small and medium enterprises and affordable housing projects, Varsha Purandare, managing director and chief executive officer of parent SBI Capital Markets, said.
* SUNDARAM FINANCE: Plans to raise 1.25 bln rupees through bonds maturing on Nov 24, 2028, and has invited bids between 1000 IST and 1300 IST on Thursday.
* USHA MARTIN: The company is not aware of any discussions pertaining to part of the promoter group showing interest to sell its partial stake in the company to TATA STEEL.
* YES BANK: Independent director R Chandrashekhar has stepped down from the board, making it the third resignation in a week since the bank's nomination and remuneration committee started reviewing performance of board members.
CLICK HERE
*********************************************************************************
* ABBOTT INDIA: The Delhi High Court has quashed a petition by US drug maker Abbott, the company wanted to stall a probe by the Indian antitrust authorities into allegations of price cartelisation over a key diabetes drug.
* BHARTI AIRTEL: Aims to increase customer stickiness to its network through partnerships with
content platforms such as Netflix, Amazon Prime, and Hooq, the telecom operator said in an investor presentation. Is unlikely to pitch for expensive 5G airwaves in any potential early spectrum sale as it feels deployment of this ultra-fast wireless technology is three to four years away in India in the absence of suitable use-cases or a compatible devices ecosystem.
* BLS INTERNATIONAL SERVICES: Has introduced a new 'Premium Lounge' service in London, as well as mobile biometric enrolment services across the UK for UK Visas and Immigration.
* FORTIS MALAR HOSPITALS: Chief financial officer Vijayasarathy Desikan has resigned effective Jan 15.
* FUTURE ENTERPRISES: Has acquired entire stake in Ritvika Trading.
* GAIL (INDIA): Gujarat Energy Transmission Corp and the company have joined the ranks of a clutch of operational creditors seeking rejection of ArcelorMittal's 420-bln-rupee resolution plan for Essar Steel unless their claims are added to the proposal.
* HEG: Board will meet on Nov 26 to consider a buyback of shares.
* HOUSING DEVELOPMENT FINANCE CORP: Has raised 5 bln rupees through 5-year-1-day rupeedenominated bonds, or masala bonds, under the company's medium-term note programme.
* ICICI BANK: Has drawn up a plan to raise as much as 250 bln rupees for on-lending as India's second largest private lender seeks to fill in the vacuum left by non-banking financial companies, which are facing a liquidity squeeze.
* JET AIRWAYS INDIA: Pilots have threatened to not perform additional duties from next month if their salary dues are not cleared by Nov 30.
* KRIDHAN INFRA: The company's Singapore-based subsidiary Swee Hong has received an order worth 1.95 bln rupees.
* MAHINDRA & MAHINDRA: The company's arm, Mahindra Electric Mobility, signed an agreement with Three Wheels United to finance and accelerate deployment of 2,000 Treo electric three-wheelers across the country by 2019.
* MINDTREE: Is betting on artificial intelligence and investing in software solutions that it can offer to customers on subscription basis in anticipation of a disruption in the services business over the next five years.
* NMDC: Has said the Karnataka government cabinet is yet to decide on the cancellation of lease rights awarded to the company for the Donimalai iron ore mine.
* NTPC: Seems to have failed to make much use of COAL INDIA's offer to lift an additional 5 mln tn of the fuel from mines.
* OIL INDIA: The board has approved a proposal to buy back up to 50.5 mln shares at 215 rupees apiece for an aggregate consideration not exceeding 10.86 bln rupees. The board has also approved the issue of debt securities for an aggregate principal amount not exceeding 40 bln rupees or an equivalent amount in foreign currency.
* PSP PROJECTS: Has received institutional and industrial projects worth 3.72 bln rupees from various clients.
* RELIANCE INDUSTRIES: Is considering a plan to boost its oil refining capacity by about a half. The plant of the size planned by the company may cost $10 bln.
* SOUTH INDIAN BANK: Will hike its marginal cost of funds-based lending rates by 10 basis points, across tenures, from Tuesday.
* SRF: The company's technical textiles business in Tamil Nadu has been impacted by cyclone Gaja.
* STATE BANK OF INDIA: SBICAP Ventures has launched two private equity funds for investing in small and medium enterprises and affordable housing projects, Varsha Purandare, managing director and chief executive officer of parent SBI Capital Markets, said.
* SUNDARAM FINANCE: Plans to raise 1.25 bln rupees through bonds maturing on Nov 24, 2028, and has invited bids between 1000 IST and 1300 IST on Thursday.
* USHA MARTIN: The company is not aware of any discussions pertaining to part of the promoter group showing interest to sell its partial stake in the company to TATA STEEL.
* YES BANK: Independent director R Chandrashekhar has stepped down from the board, making it the third resignation in a week since the bank's nomination and remuneration committee started reviewing performance of board members.
