Today's Stock View – 22.01.2019
* BHARAT HEAVY ELECTRICALS: Magnis Energy Technologies announced that the Ministry of Heavy Industries and Public Enterprises has advised the company and Libcoin to build India's first lithium-ion battery gigafactory.
* CANARA BANK: Has invited bids to sell stake in three non-core investments to shore up its capital base.
* CORPORATION BANK: The National Stock Exchange has said that shares of the bank will be included in the Nifty 500 index with effect from Jan 28.
* CREDITACCESS GRAMEEN: The National Stock Exchange has said that shares of the company will be included in the Nifty 500 index with effect from Jan 28.
* GRASIM INDUSTRIES: Plans to make a foray into the menswear segment with eco-friendly viscose fibre, branded as liva fibre, produced by its sister company Birla Cellulose.
* IDBI BANK: The board has approved the proposal to reinitiate divestment process of its stake in IDBI Federal Life Insurance Co.
* IL&FS TRANSPORTATION NETWORKS: Defaulted on interest payment of 148.71 mln rupees towards non-convertible debentures.
* INDIAN OIL CORP: GAIL INDIA and the company are still evaluating plans to invest in a 60 bln rupees liquefied natural gas import terminal being developed by the Adani Group in Odisha.
* JAYPEE INFRATECH: Suraksha Asset Reconstruction, owned by Sudhir Valia, a co-promoter of SUN PHARMACEUTICAL INDUSTRIES, is likely to drop out of the race for the company.
Differences have arisen bet-ween NBCC INDIA and the creditors over up-front cash infusion into the
company.
* JINDAL STAINLESS: Jindal Stainless group is looking to consolidate its group units — the company, its Odisha unit, and JINDAL STAINLESS (HISAR) a move that is expected to unlock value for shareholders and create synergies.
* JTL INFRA: Has started trial production at its new greenfield manufacturing plant in Mangaon,
Maharashtra.
* LUPIN: Received the US Food and Drug Administration's approval to market levothyroxine sodium tablets USP, a generic of AbbVie Inc's Synthroid tablets.
* NMDC: The outcome of the ongoing case between the Karnataka government and the company on the issue of payment of premium will have a significant bearing on the business prospects of the mining company going forward.
* OIL AND NATURAL GAS CORP: The company's 40.22 bln rupees share buyback programme will open on Jan 29 and close on Feb 11.
* PNB HOUSING FINANCE: Plans to raise at least 150 mln rupees by reissuing 9.40%, Jan 5, 2029 tier-II bonds.
* POWER GRID CORP OF INDIA: Effective from Monday, I.S. Jha has become a member of the Central Electricity Regulatory Commission, and has relinquished his position as chairman and managing director of the company.
* PRABHAT DAIRY: French dairy group Lactalis has signed a definitive agreement to buy the milkprocessing business of the company for about 17 bln rupees through a slump sale.
* STATE BANK OF INDIA: Decision to sell its Essar Steel debt does not "augur well" for public sector banks.
* STERLING BIOTECH: The Enforcement Directorate Monday informed a Delhi court that it has initiated extradition process against four promoters of the company in the 81 bln rupees bank fraud case.
* SUNDARAM FINANCE: Plans to raise up to 250 mln rupees through bonds maturing on Mar 29, 2021.
* SUN PHARMACEUTICAL INDUSTRIES: Suraksha Realty, owned by Sudhir Valia, the brother-in-law of the company's promoter Dilip Shanghvi, has raised money using the company's shares as collateral at least on three occasions in the past two years with the latest pledge coming from his firm and another owned by Shanghvi.
* TATA POWER CO: The company's wholly-owned subsidiary Tata Power Solar has launched a residential rooftop solution in Gandhinagar, Gujarat.
* UFO MOVIEZ INDIA: National Company Law Tribunal has dismissed a petition filed jointly by the company and PJSA Technosoft for the merger of the company, Qube Cinema Technologies, Qube Digital Cinema, Moviebuff, and PJSA Technosoft.
* VEDANTA: Has raised prices of aluminium ingots by more than 2% with effect from Saturday. With this price hike, rates of the company's products are up nearly 1% for the month so far.
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