Today's Stock News – 06.08.2019
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* BAJAJ AUTO: The company and TVS MOTOR CO have started facilitating zero-interest loans in select states to woo buyers.
* BANK OF BARODA: Will cut its marginal cost of funds-based lending rates by 15 basis points across tenures, with effect from Thursday.
* COFFEE DAY ENTERPRISES: The new management of the company has promised to offer additional shares as collateral to bond investors.
* COX & KINGS: Has defaulted on a 50-mln-rupee payment on unsecured commercial papers, due Monday.
* DEWAN HOUSING FINANCE CORP: Deloitte Haskins & Sells, an affiliate of Deloitte India, which resigned as the company's auditor on Monday, alleged a lack of transparency and significant deficiencies in the grant and rollover of inter-company deposits in the last board meeting of the housing finance company.
* DILIP BUILDCON: The board has approved raising up to 10 bln rupees each through commercial papers and non-convertible debentures and up to 20 bln rupees through issue of shares.
* FERTILISERS & CHEMICALS TRAVANCORE: Will soon enter the eastern markets as part of its plans to build up a pan-India presence.
* GAIL INDIA: The government will consider the company's exit application from the "port special economic zone" developed by Cochin SEZ in Puthuvypeen this week and take an "appropriate" decision.
* GLAXOSMITHKLINE CONSUMER HEALTHCARE: Input costs being nearly unchanged on a year-on-year basis helped the company put up a strong show on the profitability front in the quarter ended June, but the company may not be lucky enough in the coming quarters.
* GMR INFRASTRUCTURE: GMR Group-run Delhi international airport will have the fourth runway by January 2021 as part of the expansion plan being undertaken by Delhi International Airport.
* GUJARAT ALKALIES & CHEMICALS: Has shut down all its plants in Dahej, Gujarat, except anhydrous aluminium chloride plant, which has been running on emergency chlorine supply through tonners and hot water system.
* HCL TECHNOLOGIES: Has partnered with US-based Oracle Group to provide digital clinical trial services to life sciences companies.
* HERO MOTOCORP: Has started delivery of its scooters and motorcycles at customers' doorstep.
* IDFC FIRST BANK: Global private equity major Warburg Pincus has pledged its entire 9.86% shareholding in the bank to raise funds.
* IL&FS TRANSPORTATION NETWORKS: Has defaulted on 147.1-mln-rupee interest payment on nonconvertible debentures, due Monday.
* INDIAN TERRAIN FASHIONS: Limiar Fund (Master) LP has sold 555,729 shares, or 1.5% stake, in the company at 77.4 rupees apiece through a bulk deal on the National Stock Exchange.
* IRCON INTERNATIONAL: Has been rapped by the steel ministry for "flouting" a government policy that seeks to protect domestic steel firms from cheaper imports.
* JAMMU & KASHMIR BANK: India Ratings & Research on Monday downgraded the bank's long-term issuer rating to 'AA-' from 'AA' and placed the bank under 'rating watch negative' from 'negative'.
* JINDAL STAINLESS: Board has approved raising up to 290 mln rupees via share issue to promoter group JSL and approved raising up to 12 bln rupees via securities. Also approved raising up to 9 bln rupees via nonconvertible debentures.
* MAHANAGAR TELEPHONE NIGAM: Distressed employees of the company on Monday protested in front of Sanchar Bhawan, which houses the department of telecommunications, and also tried to meet Ravi Shankar Prasad, the communications minister.
* MUSIC BROADCAST: Has acquired commercial rights to sell advertisement space at Lucknow metro stations.
* MUTHOOT FINANCE: The board will meet on Aug 12 to consider raising funds through debt, including bank loan, issuance of foreign currency bonds or rupee-denominated bonds overseas, on a public or private placement basis in international markets.
* PERSISTENT SYSTEMS: The board has approved the appointment of Walker Chandiok & Co LLP as the statutory auditor of the company.
* SRF: The board has approved investing 4.24 bln rupees for setting up an integrated polytetrafluoroethylene plant.
* TATA MOTORS: ICRA has downgraded the long-term rating on the company to 'AA-' from 'AA' with a negative outlook due to continued deterioration in the financial profile of subsidiary Jaguar Land Rover.
- Has lowered production at its Pantnagar, Uttarakhand facility to 15,000 units of small pick-up trucks this month from 18,000 units last month amid sputtering sales.
* TATA POWER CO: Wholly-owned subsidiary has commissioned 70 kW solar rooftop project in New Delhi.
* TATA STEEL: Will be setting up multiple recycling units in the west, south and north to grow in the segment.
* TITAN BIOTECH: Promoter Titan Securities has bought 50,000 shares or 0.6% stake in the company at 35.45 rupees apiece through a bulk deal on BSE.
* UNITED BREWERIES: Competition Commission of India dismissed a complaint filed by the company against the excise department of the Delhi government with regard to conditions imposed on liquor licence.
* VISAKA INDUSTRIES: Has said that ATUM, its integrated hybrid solar-roofing system for sustainable off grid, air-conditioned walkway, has been favoured by Air India SATS Airports Services, a gateway services and food solutions provider.
* WABCO INDIA: Has undertaken temporary closure at some plants on weak demand.
* WIPRO: Company's strategic design subsidiary will open a new centre in Sydney to expand its Australian operations and meet growing business requirements.
* YES BANK: Moody's Investors Service has extended its "review for downgrade" on the Ba1 long-term foreigncurrency issuer rating of the bank.
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