Today's Stock News – 25.01.2019 9.53 Am
* ADANI ENTERPRISES: Gujarat may offer an additional 50% stake in Gujarat State Petroleum Corp LNG to Adani Group, which already holds a 25% stake in the company, after INDIAN OIL CORP decided to opt out of the race.
* BHARTI INFRATEL: Expects to get about 900 mln rupees in exit penalty payment every quarter for the next three years following termination of tenancies by various operators, the tower company's management said. The board has approved the appointment of Prakul Kaushiva as additional director in the capacity of nonexecutive director, effective Thursday.
* BINANI INDUSTRIES: PUNJAB NATIONAL BANK has stopped Braj Binani, the promoter of the
company, from flying to London by issuing a lookout notice under the new powers given to banks to prevent defaulters from fleeing the country.
* CORPORATION BANK: The board will meet on Tuesday to consider issuing up to 100 mln shares to the eligible employees under Corporation Bank Employee Stock Purchase Scheme 2018.
* DEEPAK FERTILISERS & PETROCHEMICALS CORP: Clarified that it has been repaying commercial papers in accordance with due dates.
* EICHER MOTORS: Has signed a memorandum of understanding with the Tamil Nadu government to invest 15 bln rupees in the state over a period of five years starting 2016.
* GAIL INDIA: Has filed an application before the National Company Law Tribunal, opposing a resolution plan that RELIANCE INDUSTRIES has proposed in partnership with JM Financial Asset Reconstruction for ALOK INDUSTRIES.
* ICICI BANK: The CBI on Thursday booked the bank's former head Chanda Kochhar on charges of criminal conspiracy, cheating and abuse of official position for "dishonestly sanctioning loans to the Videocon Group".
* INDIABULLS HOUSING FINANCE: Raised 3.3 bln rupees at a coupon of 9.05% on its non-convertible debentures maturing in five years.
* INTERGLOBE AVIATION: The board has approved the appointment of Meleveetil Damodaran as
chairman of the company, effective Thursday. Aviation veteran Ronojoy Dutta has been appointed chief executive officer of the company.
* JAYPEE INFRATECH: The Committee of Creditors has approved extending the company's debt resolution process by 90 days. Kotak Investment Advisors, one of the bidders for the company, is now reluctant to invest in the beleaguered entity.
* JINDAL SAW: The company's subsidiary Ralael Holdings will transfer its majority stake in Jindal Saw Italia S.p.A. to a related party.
* LIC HOUSING FINANCE: Plans to raise up to 30 bln rupees through bonds maturing in January 2029, and has invited bids on Friday.
* MAHARASHTRA SEAMLESS: With Liberty House dragging its feet in paying for ADHUNIK
METALIKS, the company has written to the Committee of Creditors, renewing its interest in the Adhunik Metaliks.
* MERCATOR: Has requested the Securities and Exchange Board of India to investigate trading activity in its shares.
* MINDTREE: Opened a 30,000-sq-ft office space in Minneapolis, US.
Founders are looking to shore up control of the company against a possibly hostile takeover, with 21% stakeholder VG Siddhartha's exit imminent.
* PUNJAB NATIONAL BANK: The High Court of England and Wales on Thursday dismissed a $45-mln deceit claim brought by the UK subsidiary of the bank against seven individuals and two companies, based in India and the US.
* PUNJ LLOYD: IFCI has invoked pledge on 3.4 mln shares, representating 1.02% stake, mortgaged by the company's promoter Cawdor Enterprises on Wednesday.
* RELIANCE INDUSTRIES: Arm Reliance Industrial Investments Holdings plans to raise 40 bln rupees to meet the group's funding and investment requirements.
* SREI INFRASTRUCTURE FINANCE: The company's board will meet on Feb 4 to consider raising up to 200 bln rupees through debt.
* TATA MOTORS: Seems to be in no mood to continue with Ratan Tata's dream car Nano as it may not invest on upgrading it to meet the Bharat Stage-VI norms.
* UPL: Received all necessary regulatory approvals to buy Arysta LifeSciences Inc and its subsidiaries from Platform Speciality Products Corp.
* UTTAM VALUE STEELS: An SSG Capital Management-led consortium and Sharjah-based New Zone Intertrade FZE have bid for the company and Uttam Galva Metallics.
* YES BANK: Reserve Bank of India has approved the appointment of Ravneet Singh Gill as its managing director and chief executive officer.
* ZEE ENTERTAINMENT ENTERPRISES: The promoters of the company have zeroed in on three
companies to sell half of their holding in the entity.
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