Today Stock News – 21.11.2018
* BANK OF BARODA: Will sell 4% stake, or 2 mln shares, in Clearing Corp of India to HDFC
BANK at 620 rupees a share, amounting to 1.24 bln rupees. Has invited expression of interest to
sell 42 bln rupees of bad loans as it continues with its strategy of offloading non-performing assets
because of delay in their resolution.
* BHARTI AIRTEL: Is raising more than $2 bln in loans from banks, as India's second-biggest
wireless carrier faces increased competition at home and the threat of a ratings downgrade to
junk. Has put together a four-pronged strategy to take on its rivals Reliance Jio and VODAFONE
IDEA.
* DOLPHIN OFFSHORE ENTERPRISES INDIA: Wholly-owned subsidiary Dolphin Offshore
Enterprises (Mauritius) has won a $1-mln arbitration award against Alcock Ashdown (Gujarat).
* EXCEL CROP CARE: Sumitomo Chemical India has initiated the process to convert itself into
a public listed company to expedite merger of the company with itself.
* EXCEL INDUSTRIES: CRISIL has upgraded the rating on long-term loan facilities of the
company to A+ from A.
* FORTIS HEALTHCARE: The new owners of the company have launched an open offer for
26% of Fortis Malar Hospitals' shares, a step-down subsidiary of the company, at 60.1 rupees per
share.
* IL&FS ENGINEERING AND CONSTRUCTION CO: Has sought an extension from the
Securities and Exchange Board of India till Dec 31 to detail its earnings for the September quarter.
* INDIABULLS HOUSING FINANCE: Has raised 236.15 bln rupees in the past two months
through a combination of debt capital market and loan portfolio sales.
* INDUSIND BANK: Has raised its base rate by 25 basis points to 10.80%, effective Nov 17.
* JET AIRWAYS INDIA: Will launch a non-stop flight from Pune to Singapore on Dec 1 to
enhance its connectivity to international destinations.Flight cancellations by the company on
Monday increased to 25 from 10 on Sunday as pilots reported sick in what's seen as a reaction
against non-payment of salaries on time.The company has said that it is in talks with various
investors to secure sustainable financing to tide over the on-going stress in the company.
* LARSEN & TOUBRO: Has filed an insolvency petition against IL&FS ENGINEERING AND
CONSTRUCTION CO to recover its dues.
* LIC HOUSING FINANCE: Plans to raise at least 8 bln rupees through the issuance of bonds
maturing in February 2022 and November 2023, and has invited bids on Monday.
* MINDA CORP: Has entered into an agreement with its joint venture partner Furukawa Group of
Japan for a change in the equity structure of its joint venture Minda Furukawa Electric.
* NATIONAL ALUMINIUM CO: Has cut prices of aluminium alloy ingots and sow ingots for
the sixth time in a row this quarter.
* NESTLE INDIA: Will pursue "meaningful and prudent" acquisitions across world markets even
though it considers strong organic growth as its lead matrix, Global Chief Executive Mark
Schneider said.
* NTPC: Is considering buying power plants run by RATTANINDIA POWER and
JAIPRAKASH POWER VENTURES.
* OBEROI REALTY: Is in talks with BLUE STAR to acquire its 9-acre land parcel in Thane on
an outright basis.
* RELIANCE INDUSTRIES: Telecom arm Reliance Jio Infocomm has announced that
subscribers of Japan-based KDDI Corp will be able to use services of the company's telecom
subsidiary when in India.Violated contractual terms and state policy on coal-bed methane by
selling its entire output to itself, an official probe has found.
* RELIANCE NIPPON LIFE ASSET MANAGEMENT: The government is looking to raise up to
80 bln rupees through the fourth tranche of the Central Public Sector Enterprises - Exchange Traded Fund managed by the company.
* SHRIRAM CITY UNION FINANCE: Kanshit Munshi has resigned as chief financial officer of
the company's subsidiary Shriram Housing Finance, effective Nov 19.
* SUZLON ENERGY: The company has transferred its entire stake in subsidiaries Amun
Solarfarms and Avighna Solarfarms to Canadian Solar Energy Group for a total amount of 545
mln rupees.
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BANK at 620 rupees a share, amounting to 1.24 bln rupees. Has invited expression of interest to
sell 42 bln rupees of bad loans as it continues with its strategy of offloading non-performing assets
because of delay in their resolution.
* BHARTI AIRTEL: Is raising more than $2 bln in loans from banks, as India's second-biggest
wireless carrier faces increased competition at home and the threat of a ratings downgrade to
junk. Has put together a four-pronged strategy to take on its rivals Reliance Jio and VODAFONE
IDEA.
* DOLPHIN OFFSHORE ENTERPRISES INDIA: Wholly-owned subsidiary Dolphin Offshore
Enterprises (Mauritius) has won a $1-mln arbitration award against Alcock Ashdown (Gujarat).
* EXCEL CROP CARE: Sumitomo Chemical India has initiated the process to convert itself into
a public listed company to expedite merger of the company with itself.
* EXCEL INDUSTRIES: CRISIL has upgraded the rating on long-term loan facilities of the
company to A+ from A.
* FORTIS HEALTHCARE: The new owners of the company have launched an open offer for
26% of Fortis Malar Hospitals' shares, a step-down subsidiary of the company, at 60.1 rupees per
share.
* IL&FS ENGINEERING AND CONSTRUCTION CO: Has sought an extension from the
Securities and Exchange Board of India till Dec 31 to detail its earnings for the September quarter.
* INDIABULLS HOUSING FINANCE: Has raised 236.15 bln rupees in the past two months
through a combination of debt capital market and loan portfolio sales.
* INDUSIND BANK: Has raised its base rate by 25 basis points to 10.80%, effective Nov 17.
* JET AIRWAYS INDIA: Will launch a non-stop flight from Pune to Singapore on Dec 1 to
enhance its connectivity to international destinations.Flight cancellations by the company on
Monday increased to 25 from 10 on Sunday as pilots reported sick in what's seen as a reaction
against non-payment of salaries on time.The company has said that it is in talks with various
investors to secure sustainable financing to tide over the on-going stress in the company.
* LARSEN & TOUBRO: Has filed an insolvency petition against IL&FS ENGINEERING AND
CONSTRUCTION CO to recover its dues.
* LIC HOUSING FINANCE: Plans to raise at least 8 bln rupees through the issuance of bonds
maturing in February 2022 and November 2023, and has invited bids on Monday.
* MINDA CORP: Has entered into an agreement with its joint venture partner Furukawa Group of
Japan for a change in the equity structure of its joint venture Minda Furukawa Electric.
* NATIONAL ALUMINIUM CO: Has cut prices of aluminium alloy ingots and sow ingots for
the sixth time in a row this quarter.
* NESTLE INDIA: Will pursue "meaningful and prudent" acquisitions across world markets even
though it considers strong organic growth as its lead matrix, Global Chief Executive Mark
Schneider said.
* NTPC: Is considering buying power plants run by RATTANINDIA POWER and
JAIPRAKASH POWER VENTURES.
* OBEROI REALTY: Is in talks with BLUE STAR to acquire its 9-acre land parcel in Thane on
an outright basis.
* RELIANCE INDUSTRIES: Telecom arm Reliance Jio Infocomm has announced that
subscribers of Japan-based KDDI Corp will be able to use services of the company's telecom
subsidiary when in India.Violated contractual terms and state policy on coal-bed methane by
selling its entire output to itself, an official probe has found.
* RELIANCE NIPPON LIFE ASSET MANAGEMENT: The government is looking to raise up to
80 bln rupees through the fourth tranche of the Central Public Sector Enterprises - Exchange Traded Fund managed by the company.
* SHRIRAM CITY UNION FINANCE: Kanshit Munshi has resigned as chief financial officer of
the company's subsidiary Shriram Housing Finance, effective Nov 19.
* SUZLON ENERGY: The company has transferred its entire stake in subsidiaries Amun
Solarfarms and Avighna Solarfarms to Canadian Solar Energy Group for a total amount of 545
mln rupees.
