Today's Stock News – 29.01.2019
* ALKEM LABORATORIES: Has received approval from the US Food and Drug Administration for
tizanidine hydrochloride tablet.
* AURIONPRO SOLUTIONS: Noida metro project has implemented the company's automated fare collection system based on the open loop ticketing concept.
* BERGER PAINTS INDIA: Completed the acquisition of 51% stake, or 10.3 mln shares, in Saboo Hesse Wood Coatings.
* COCHIN MINERALS & RUTILES: Income Tax authorities carried out search operations at the company's premises on Friday and Saturday.
* FORTIS HEALTHCARE: The Supreme Court on Monday sought a response from the company on a plea by Japanese firm Daiichi Sankyo seeking to restrain it from transferring 40 bln rupees it has received from Malaysia's IHH Healthcare Berhad to RHT Health Trust, Singapore.
* HINDUSTAN PETROLEUM CORP: The company's 431.29-bln-rupee refinery project in Barmer district of Rajasthan has achieved financial closure with tying up of a 287.53 bln rupees loan from a consortium of lenders.
* HUBTOWN: Decided to divest 100% stake in subsidiary Heet Builders.
* JAYPEE INFRATECH: The government has set a March deadline for lenders and resolution professionals to resolve nine of the dozen high-value insolvency cases, with Essar Steel and the company identified for special focus.
* IL&FS TRANSPORTATION NETWORKS: Defaulted on 23.77 mln rupees worth of interest payment on non-convertible debentures that were due today on account of insufficient funds.
* INDOCO REMEDIES: US Food and Drug Administration has issued six observations to the company's Goa formulations plant I in Andhra Pradesh.
* KNR CONSTRUCTIONS: Will sell its stake in KNR Srirangam Infra, a special pupose vehicle, to Cube Highways and Infrastructure III, for 736.1 mln rupees.
* MANAPPURAM FINANCE: Public issue of the company's non-convertible debentures was subscribed 0.01 times on the first day, according to subscription figures.
* MARUTI SUZUKI INDIA: On Monday launched refreshed version of its premium hatchback Baleno priced between 545,000 rupees and 877,000 (ex-showroom, Delhi).
* MPHASIS: Is eyeing double-digit revenue contribution from companies in the portfolio of Blackstone, American private equity firm that owns majority stake in the company, up from around 5% at present, chief executive Nitin Rakesh said.
* NEWGEN SOFTWARE TECHNOLOGIES: Has executed an agreement to buy office premises for 490 mln rupees in Noida, Uttar Pradesh.
* PERSISTENT SYSTEMS: Will buy back up to 3 mln shares at 750 rupees each, a 33% premium to
Monday's closing price of 564.95 rupees.
* PIRAMAL ENTERPRISES: Chairman Ajay Piramal said the company, along with APG Asset Management, had exposure of 2.25 bln rupees to Essel Infraprojects, a company under Essel Group.
Will reduce exposure of its non-banking financial services business to the ailing real estate sector, Chairman Ajay Piramal said.
* POWER GRID CORP OF INDIA: Wholly-owned subsidiary Powergrid NM Transmission has successfully commissioned the Salem-Madhugiri 765 kV transmission line on Saturday.
* SHARON BIO-MEDICINE: Maharashtra Pollution Body has directed the company to shut down operations at its active pharmaceutical ingredient plant in Taloja.
* SHOPPERS STOP: Is seeking further clarity on whether the government's latest foreign direct investment guidelines could affect its stake sale to Amazon.
* SOM DISTILLERIES & BREWERIES: Subsidiary Wood Pecker Distilleries & Breweries has started production of Whitefox, a ready-to-drink vodka-based premix, from its Hassan facility in Karnataka.
* SUN PHARMACEUTICAL INDUSTRIES: Has received approval from the US Food and Drug
Administration for Mesalamine tablet.
* TATA MOTORS: Subsidiary Jaguar Land Rover has launched model year 2019 Discovery Sport Landmark Edition sports utility vehicle.
* TATA STEEL: Has reiterated that its home market, India, is the most profitable and fastest growing market, while Southeast Asia is a geography worth spending capital in, company officials said.
* ZEE MEDIA CORP: Vishwapati Trivedi has resigned as an independent director.
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