Today's Stock News – 02.05.2019
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* AMBUJA CEMENTS: Has appointed Sonal Shrivastava as chief financial officer.
* ASHOK LEYLAND: ICRA Ltd has upgraded the long-term rating on the company to AA+ with a stable outlook from AA with a positive outlook.
* ATUL AUTO: April total sales 3,346 units, up 22.2% on year.
* AVENUE SUPERMARTS: The board will meet on May 11 to consider raising funds by issuing nonconvertible debentures on a private placement basis.
* BHARAT HEAVY ELECTRICALS: Has signed a memorandum of understanding with the Automotive Research Association of India for various e-mobility related projects.
* BHARTI AIRTEL: The company and Vodafone Group Plc are in talks with a consortium led by private equity firm KKR to slash their stakes by over half in the company that will be created by the imminent merger of BHARTI INFRATEL and Indus Towers.
* COAL INDIA: According to provisional figures, the company's production rose 1% on year to 45.29 mln tn in April, and offtake was up 2.6% at 52.35 mln tn.
* COCHIN SHIPYARD: Signed a 63.11-bln-rupee contact with defence ministry for construction of eight anti-submarine warfare shallow water craft for the Indian Navy.
* CROMPTON GREAVES CONSUMER ELECTRICAL: Has launched Aura range of fans with a five-year warranty, starting at 3,800 rupees.
* EICHER MOTORS: April total motorcycles sales 62,879 units, down 17% on year.
* ESCORTS: April total tractor sales 5,264 units, down 14.9% on year.
* GOA CARBON: Has temporarily shut operations at its unit in Goa for maintenance work.
* HERO MOTOCORP: Launched three new motorcycles in the premium 200cc segment, pricing them all under 100,000 rupees.
* ICICI BANK: The board will meet on Monday to consider raising funds through non-convertible debentures, in one or more tranches, in any currency through public or private placements.
* ICICI SECURITIES: Has tied up with Religare Health Insurance to sell insurance products on its online platform ICICI Direct.
* IL&FS INVESTMENT MANAGERS: Non-executive independent director Shubhalakshmi Panse has
resigned as a member of the board.
* IL&FS TRANSPORTATION NETWORKS: Has defaulted on a 175.61-mln-rupee payment on nonconvertible debentures, including interest, due to insufficient funds.
* INDUSIND BANK: Said its exposure to a large non-banking finance company and its group companies accounted for 0.5% of its total loan book as of Mar 31.
* JET AIRWAYS INDIA: Bidders for the company so far appear uninterested in following up on their
expressions of interest, dealing a major blow to the early revival of the airline.
-The Airports Authority of India has started taking inventory of the space occupied by the company at
airports across the country.
-Air India and its subsidiary Air India Express are in the process of hiring 250 pilots and crew from the company.
* KEC INTERNATIONAL: The board will meet on May 8 to mull dividend, and raising funds through
issuance of non-convertible debentures on a private placement basis in one or more tranches.
* LAKSHMI VILAS BANK: Will increase its marginal cost of funds-based lending rates by 5-15 basis points across tenures from Wednesday.
* LARSEN & TOUBRO: Has bought 32.77 mln shares or 19.96% stake in MINDTREE at 980 rupees apiece through a bulk deal on the BSE.
* LUPIN: The company, in alliance with NATCO PHARMA, has received the US Food and Drug
Administration's approval to market bosentan tablets in 62.5-mg and 125-mg strengths in the US.
* MAGMA FINCORP: Has closed its public issue of non-convertible debentures a week ahead of schedule.
* MARUTI SUZUKI INDIA: Sales volume fell 19.0% on year in April, the second straight month of
contraction. The sales had fallen 1.6% in March.
* MERCATOR: Has sold very large crude carrier--Nerissa--for $27.5 mln, and the proceeds will be used to reduce debt and other liabilities.
* NBCC (INDIA): Has received a go-ahead from the housing and urban affairs ministry for its revised resolution plan for the takeover of JAYPEE INFRATECH.
* OIL & NATURAL GAS CORP: Is set to give a fresh lease of life to the controversial PY-3 oil field in the Bay of Bengal by taking over its operatorship from UK-based Hardy Oil & Gas.
* REC: Plans to raise at least 5 bln rupees through bonds maturing on Dec 20, 2021, and has invited bids on Friday, sources told.
* RELIANCE POWER: IDBI Trusteeship Services has invoked 76 mln shares or 2.72% stake pledged by promoters in the company due to default on non-convertible debentures of 5 bln rupees issued by RELIANCE INFRASTRUCTURE, and non-convertible debentures of 3 bln rupees by Reliance Project Ventures and Management.
* RUCHI SOYA INDUSTRIES: Patanjali Ayurved on Wednesday sought more time from the National
Company Law Tribunal to file a detailed resolution plan for the company which it has agreed to take over for 43.25 bln rupees.
* STERLING BIOTECH: The Bombay High Court has granted conditional relief to the company and Sterling SEZ & Infrastructure on withdrawal of insolvency resolution process.
* SUBEX: Has secured a multi-year deal from Zimbabwe-based Econet Wireless Zimbabwe to deploy
analytics solution.
* TATA CONSULTANCY SERVICES: Has told a US court that technology firm CSC was attempting to disrupt its $2 bln deal with insurer Transamerica, and that a trade secret lawsuit filed against it by CSC last week lacked evidence.
* TUBE INVESTMENTS OF INDIA: The board has approved raising up to 1 bln rupees by issuing privatelyplaced non-convertible debentures in one or more tranches.
* VEDANTA: Has cut prices of aluminium ingots by 1% with effect from Saturday.
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