Daily Stock News Today – 28.07.2017

Daily Stock News Today – 28.07.2017

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* AUTOLINE INDUSTRIES: Board has approved issuing shares on preferential basis to promoters
Shivaji Akhade and Sudhir Mungase, investor IndiaNivesh Capitals, and one of the company's lenders, for 242.5 mln rupees.

* AXIS BANK: Is nearing a deal to buy Freecharge for 3.5-4.0 bln rupees in cash. Parent Snapdeal is
separately in talks to sell itself to larger rival Flipkart.

* CAPITAL FIRST: Plans to raise up to 2 bln rupees through non-convertible debentures maturing in
three years and 19 days at a coupon of 8.08%. The Reserve Bank of India has said that foreign portfolio investors and foreign institutional investors, cannot buy the company's shares through stock exchanges in India as the aggregate foreign holding has crossed the permissible limit of 24% of its paid-up capital.

* CONTAINER CORP OF INDIA: Has proposed to invest 10 bln rupees as part of its effort to increase  its market share in the rail segment.

* EROS INTERNATIONAL MEDIA: Eros Worldwide FZ LLC, a promoter, has sold 508,768 shares
representing 0.5% stake in the company at 231.31 rupees a share through a bulk deal on the National
Stock Exchange.

* HOUSING DEVELOPMENT FINANCE CORP: Chairman Deepak Parekh said he was hopeful that the HDFC Life's initial public offering, comprising an offer for sale of shares by existing shareholders, would happen around Nov-Dec.

* INDIA GRID TRUST: Plans to acquire up to four inter-state power transmission projects from Sterlite Power.

* INDRAPRASTHA GAS: The Reserve Bank of India has said that the investment limit for foreign
portfolio investors and foreign institutional investors in the company has been raised to 30% from 24% earlier.

* KPIT TECHNOLOGIES: Chrys Capital sold its entire 13.8% stake in the company in the open market on account of the fund closing down. IDFC Mutual Fund, BNP Paribas Arbitage SA and three others bought nearly 13 mln shares or 6.55% stake in the company through bulk deals on the NSE.

* L&T FINANCE HOLDINGS: Reported Apr-Jun consolidated net profit of 3.1 bln rupees, up 49.1% on year. Revenue from operations was at 22.6 bln rupees, up 13.1% on year.

* MAHINDRA & MAHINDRA: The company is eyeing a $6-bln order from the US government for
postal delivery vehicles, and will submit over a dozen prototypes for road-testing between September and November.

* MARUTI SUZUKI INDIA: Has launched its first NEXA service workshop in Gurugram and plans to take it up to 300 NEXA service workshops by 2020.

* MPHASIS: Reported Apr-Jun consolidated net profit of 1.9 bln rupees, up 2% on quarter, and revenue from operations of 15.4 bln rupees, up 2% on quarter.

* OIL AND NATURAL GAS CORP: The Central Vigilance Commission has asked the company and its directors to individually explain why the state firm had planned to hire rigs without tendering.

* SIYARAM SILK MILLS: The board has approved a stock split in the ratio of five-for-one.

* STATE BANK OF INDIA: State Bank of India is likely to issue Basel-III compliant tier-I bonds at a coupon of 8.15% to raise up to 20 bln rupees.

* TATA CONSULTANCY SERVICES: Has deployed a new technological solution for Element Fleet
Management's Xcelarate system.

* TATA MOTORS: Launched a range of commercial vehicles in the Philippines through a partnership
with Pilipinas Taj Autogroup, which will be its official distributor in the country.

* TATA STEEL: Thyssenkrupp's Chief Executive Heinrich Hiesinger is pushing for a deal to fold its steel operations into a joint venture with the company as early as September.

* TATA TELESERVICES MAHARASHTRA: Board will meet on Monday to consider a proposal to
raise up to 13 bln rupees by issuing one or more types of securities.