Today's Stock News – 10.05.2019
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* ABB INDIA: Minority shareholders of the company have approved a resolution that will allow the company to pay 4% of its annual consolidated turnover for 2018 as royalty to the parent company--ABB Schweiz AG.
* BANDHAN BANK: Has hiked its marginal cost of funds-based lending rates on two-year loans by 7 basis points to 10.62%, and on three-year loans by 12 bps to 10.77%.
* CENTRAL BANK OF INDIA: The board of directors will meet on Wednesday to consider a proposal for allotment of equity shares under the employee stock purchase scheme.
* COAL INDIA: Plans to ramp up auction offerings by 14% during the current fiscal against the previous year when similar supplies declined 5%.
* HCL TECHNOLOGIES: Organic growth will contribute 7-9 percentage points to the company's constantcurrency revenue growth guidance for the current financial year, Chief Financial Officer Prateek Aggarwal said.
* ICRA: The Securities and Exchange Board of India has initiated adjudication proceedings against the company following an "anonymous representation" on the ratings agency's alleged wrongdoing in rating a particular company and its subsidiaries.
* JAYPEE INFRATECH: The committee of creditors will take a final call on NBCC (INDIA)'s revised bid for the company on Tuesday after the bidder offers further clarity sought by lenders on its proposal.
* JET AIRWAYS INDIA: Concluding that the transactions of the company are of 'suspicious' in nature and require a thorough probe, the Ministry of Corporate Affairs last week submitted its report recommending a detailed investigation into the affairs of the company.
* LAKSHMI VILAS BANK: The Reserve Bank of India has extended the tenure of Rajnish Kumar as additional director on the board of the bank by two years, till May 16, 2021.
* MINDTREE: LARSEN & TOUBRO has bought 2.01% stake or 3 mln shares in the company at 980 rupees apiece through a bulk deal on the National Stock Exchange.
* PUNJ LLOYD: Rahul Maheshwari has resigned as chief financial officer of the company, effective Thursday.
* QUESS CORP: Has completed the acquisition of 100% stake in its subsidiary Greenpiece Landscape India.
* RELIANCE INDUSTRIES: Subsidiary Reliance Brands has signed a definitive agreement to acquire 100% stake in Hamleys Global Holdings for 67.96 mln pound sterling (about 6.2 bln rupees) in an all-cash deal.
* TATA STEEL: The company, through its wholly-owned indirect subsidiary Tata Steel Global Minerals Holdings, will sell 19% indirect stake in Oman-based Al Rimal Mining to Oman National Investments Development Co for 35 mln rupees.
* TITAN CO: Has maintained a positive outlook for 2019-20 (Apr-Jun), and expects its jewellery business to grow on the back of more wedding dates this year.
* TORRENT POWER: Plans to raise 2.7 bln rupees through non-convertible debentures and has invited bids on Monday.
* VIDEOCON INDUSTRIES: Videocon Group "had no serious intention to recover" 640 mln rupees that it had transferred to Kochhar group of companies, according to an investigation report of the corporate affairs ministry.
* WELSPUN CORP: The board will meet on Tuesday to consider buyback of equity shares. Has received an additional pipe order of 103,000 tn.
* YES BANK: CARE cuts rating on debt instrument, outlook negative.
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