Today Stock News – 05.12.2018
* AVG LOGISTICS: Sixth Sense Ventures-owned Sixth Sense India Opportunities II fund has bought 1.7% stake or 171,600 mln shares in the company at 75.19 rupees a share through bulk deal on the National Stock Exchange.
* BANK OF BARODA: Plans raising 5 bln rupees through Basel-III compliant tier-II bonds maturing in 10 years.
* HINDALCO INDUSTRIES: Has raised rates of its products by 2% with effect from Tuesday.
* HINDUJA GLOBAL SOLUTIONS: Will invest further in its site in Selkirk, UK, and create 150 new jobs over 2019.
* HINDUSTAN COPPER: Has cut the prices of wire rods and cathodes by up to 4% with effect from Monday.
* HINDUSTAN UNILEVER: Taxmen have begun to scrutinise the $3.8-bln Unilever-GSK transaction and could raise demand on the value of the sale of Horlicks brand to the Anglo-Dutch multinational by invoking provisions relating to indirect transfer of shares.
* ICICI LOMBARD GENERAL INSURANCE CO: Has set up a 'virtual company' called ICICI Lombard Digital within the company to spearhead insurance services through a purely digital platform.
* INDIABULLS VENTURES: Has allotted 26.91 mln compulsorily convertible debentures at 550 rupees each, totalling 14.80 bln rupees, to three foreign investors.
* INTERGLOBE AVIATION: Ronojoy Dutta, who has earlier served as United Airlines executive and Air Sahara president, on Tuesday joined IndiGo as principal consultant.
-IndiGo will soon create aviation history. From a fledging airline that started 12 years ago, it is set to have 200 aircraft (currently it has 198) sometime this month, becoming the only Indian carrier to reach this milestone.
* JET AIRWAYS INDIA: Has introduced 65 additional flights on Pune-Singapore, Mumbai-Singapore, Delhi- Singapore, Delhi-Bangkok, Delhi-Kathmandu, Delhi-Doha, Mumbai-Doha, Mumbai-Dubai, Delhi-Amritsar and Mumbai-Amritsar routes from this month.
* KESORAM INDUSTRIES: Has decided to spin off its tyre division into Birla Tyres to "realign and
recalibrate" its operations.
* KRIDHAN INFRA: Associate company Vijay Nirman Co has received a letter of intent worth 1.05 bln rupees to construct major and minor bridges on Mumbai-Nagpur super communication expressway in Maharashtra.
* LUPIN: Has launched Silodosin capsules in 4-mg and 8-mg strengths, after securing the approval of the US Food and Drug Administration.
* MAHINDRA & MAHINDRA: Mahindra Group has inaugurated its first carbon neutral manufacturing plant in Igatpuri, Maharashtra. -Has started selling cars of Ford Motor Co in India as the automakers expand their alliance beyond the joint development of vehicles.
* MANDHANA INDUSTRIES: National Company Law Tribunal has approved US-based Formation Textiles LLC's resolution plan for the company.
* MEERA INDUSTRIES: Has received orders worth a combined $130,000 from Uganda-based Africa Polysack Industries, Ecuador-based Hiplas, and Kazakhstan-based Kokshe Upakova LLP.
* OIL INDIA: Has commissioned cyclic steam stimulation technology for extraction of heavy crude oil at the Baghewala oilfield in Rajasthan.
* POWER FINANCE CORP: The government has proposed that the company acquires REC in a 140 bln rupees deal, a surprising reversal of the previous plan of REC taking over the company.
* RATTANINDIA INFRASTRUCTURE: Promoter Arbutus Consultancy LLP will sell up to 64.91 mln shares or 4.71% stake in the company through an offer for sale.
* REC: Likely to raise at least 5 bln rupees through bonds maturing in 10 years, and has invited bids for same on Thursday.
* RELIANCE INDUSTRIES: The government has moved the Delhi High Court accusing the company and its partners of committing an "insidious fraud" and "unjust enrichment of over $1.73 bln" by siphoning gas from deposits they had no right to exploit.
* STATE BANK OF INDIA: Has raised 20 bln rupees in perpetual bonds using the National Stock Exchange's electronic bidding platform for the first time.
-Will cease to be a fund manager of retirement fund body Employees' Provident Fund Organisation by March-end, as a bank cannot function as an asset management company under the Reserve Bank of India norms.
* SUPERSHAKTI METALIKS: Asia Investment Corp Mauritius has bought 1.04% stake or 60,000 shares in the company at 407 rupees a share through a bulk deal on BSE.
* TATA CONSULTANCY SERVICES: Has launched a software solution to help power utility companies digitally transform their operations.
* TATA MOTORS: S&P Global Ratings has cut its long-term issuer credit rating on the company to 'BB-' from 'BB', citing expected deterioration in the company's debt profile over the next 12-18 months and the likelihood of a weak performance by subsidiary Jaguar Land Rover.
* VEDANTA: Has raised rates of aluminium ingots by nearly 3% with effect from Tuesday.
-Amid protests by a section of local people at Tuticorin against the recent National Green Tribunal panel order questioning the Tamil Nadu government's closure order against Sterlite Copper plant, the Thoothukudi Industrial Suppliers' Association has petitioned the chief minister as well as state industry minister, requesting them to reopen the plant, which was closed in May.
* VEER ENERGY AND INFRASTRUCTURE: Aspire Emerging Fund has sold 0.83% stake or 95,000 shares in the company at 11.89 rupees apiece through a bulk deal on BSE.
* VODAFONE IDEA: India Ratings and Research has downgraded the rating on the company's nonconvertible debentures worth 60 bln rupees to AA-/Negative from AA+/Negative.
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* BANK OF BARODA: Plans raising 5 bln rupees through Basel-III compliant tier-II bonds maturing in 10 years.
* HINDALCO INDUSTRIES: Has raised rates of its products by 2% with effect from Tuesday.
* HINDUJA GLOBAL SOLUTIONS: Will invest further in its site in Selkirk, UK, and create 150 new jobs over 2019.
* HINDUSTAN COPPER: Has cut the prices of wire rods and cathodes by up to 4% with effect from Monday.
* HINDUSTAN UNILEVER: Taxmen have begun to scrutinise the $3.8-bln Unilever-GSK transaction and could raise demand on the value of the sale of Horlicks brand to the Anglo-Dutch multinational by invoking provisions relating to indirect transfer of shares.
* ICICI LOMBARD GENERAL INSURANCE CO: Has set up a 'virtual company' called ICICI Lombard Digital within the company to spearhead insurance services through a purely digital platform.
* INDIABULLS VENTURES: Has allotted 26.91 mln compulsorily convertible debentures at 550 rupees each, totalling 14.80 bln rupees, to three foreign investors.
* INTERGLOBE AVIATION: Ronojoy Dutta, who has earlier served as United Airlines executive and Air Sahara president, on Tuesday joined IndiGo as principal consultant.
-IndiGo will soon create aviation history. From a fledging airline that started 12 years ago, it is set to have 200 aircraft (currently it has 198) sometime this month, becoming the only Indian carrier to reach this milestone.
* JET AIRWAYS INDIA: Has introduced 65 additional flights on Pune-Singapore, Mumbai-Singapore, Delhi- Singapore, Delhi-Bangkok, Delhi-Kathmandu, Delhi-Doha, Mumbai-Doha, Mumbai-Dubai, Delhi-Amritsar and Mumbai-Amritsar routes from this month.
* KESORAM INDUSTRIES: Has decided to spin off its tyre division into Birla Tyres to "realign and
recalibrate" its operations.
* KRIDHAN INFRA: Associate company Vijay Nirman Co has received a letter of intent worth 1.05 bln rupees to construct major and minor bridges on Mumbai-Nagpur super communication expressway in Maharashtra.
* LUPIN: Has launched Silodosin capsules in 4-mg and 8-mg strengths, after securing the approval of the US Food and Drug Administration.
* MAHINDRA & MAHINDRA: Mahindra Group has inaugurated its first carbon neutral manufacturing plant in Igatpuri, Maharashtra. -Has started selling cars of Ford Motor Co in India as the automakers expand their alliance beyond the joint development of vehicles.
* MANDHANA INDUSTRIES: National Company Law Tribunal has approved US-based Formation Textiles LLC's resolution plan for the company.
* MEERA INDUSTRIES: Has received orders worth a combined $130,000 from Uganda-based Africa Polysack Industries, Ecuador-based Hiplas, and Kazakhstan-based Kokshe Upakova LLP.
* OIL INDIA: Has commissioned cyclic steam stimulation technology for extraction of heavy crude oil at the Baghewala oilfield in Rajasthan.
* POWER FINANCE CORP: The government has proposed that the company acquires REC in a 140 bln rupees deal, a surprising reversal of the previous plan of REC taking over the company.
* RATTANINDIA INFRASTRUCTURE: Promoter Arbutus Consultancy LLP will sell up to 64.91 mln shares or 4.71% stake in the company through an offer for sale.
* REC: Likely to raise at least 5 bln rupees through bonds maturing in 10 years, and has invited bids for same on Thursday.
* RELIANCE INDUSTRIES: The government has moved the Delhi High Court accusing the company and its partners of committing an "insidious fraud" and "unjust enrichment of over $1.73 bln" by siphoning gas from deposits they had no right to exploit.
* STATE BANK OF INDIA: Has raised 20 bln rupees in perpetual bonds using the National Stock Exchange's electronic bidding platform for the first time.
-Will cease to be a fund manager of retirement fund body Employees' Provident Fund Organisation by March-end, as a bank cannot function as an asset management company under the Reserve Bank of India norms.
* SUPERSHAKTI METALIKS: Asia Investment Corp Mauritius has bought 1.04% stake or 60,000 shares in the company at 407 rupees a share through a bulk deal on BSE.
* TATA CONSULTANCY SERVICES: Has launched a software solution to help power utility companies digitally transform their operations.
* TATA MOTORS: S&P Global Ratings has cut its long-term issuer credit rating on the company to 'BB-' from 'BB', citing expected deterioration in the company's debt profile over the next 12-18 months and the likelihood of a weak performance by subsidiary Jaguar Land Rover.
* VEDANTA: Has raised rates of aluminium ingots by nearly 3% with effect from Tuesday.
-Amid protests by a section of local people at Tuticorin against the recent National Green Tribunal panel order questioning the Tamil Nadu government's closure order against Sterlite Copper plant, the Thoothukudi Industrial Suppliers' Association has petitioned the chief minister as well as state industry minister, requesting them to reopen the plant, which was closed in May.
* VEER ENERGY AND INFRASTRUCTURE: Aspire Emerging Fund has sold 0.83% stake or 95,000 shares in the company at 11.89 rupees apiece through a bulk deal on BSE.
* VODAFONE IDEA: India Ratings and Research has downgraded the rating on the company's nonconvertible debentures worth 60 bln rupees to AA-/Negative from AA+/Negative.
