Daily Stock News Today – 22.12.2017
* 3I INFOTECH: Has allotted 1.06 mln shares on conversion of foreign currency convertible bonds worth $1.4 mln.
* AARTI INDUSTRIES: The board has approved buyback of up to 820,383 shares at 1,200 rupees per share.
* BAJAJ FINSERV: Subsidiary Bajaj Allianz Life Insurance Co has tied up with NKGSB Co-operative Bank as a corporate agent for a three-year period.
* BANK OF BARODA: KT Corp and private equity fund Baring Asia are among suitors vying to purchase up to 100% stake in the bank's credit and debit card unit.
* BANK OF INDIA: Will shut 400 automated teller machines to contain costs as part of a turnaround plan.
* BHARTI AIRTEL: The Unique Identification Authority of India has allowed the company to resume Aadhaar-based electronic know-your-customer services.
* BHUSHAN STEEL: The National Company Law Tribunal has granted the company's committee of creditors permission to extend the resolution period by 90 days beyond the initial 180-day time frame.
* BIOCON: Is likely to take its group entity Biocon Biologics public and is expected to raise about $500 mln.
* CANARA BANK: It has empanelled merchant bankers to sell 4% stake in CAN FIN HOMES, which will bring down its stake in the mortgage lending arm to 26%.
* EDELWEISS FINANCIAL SERVICES: Arm Edelweiss Alternative Asset Advisors has said it will launch an infrastructure fund with a target to raise 20 bln rupees.
* HOUSING DEVELOPMENT FINANCE CORP: Arm HDFC Capital Advisors has launched a $1-bln platform to fund affordable and mid-income residential housing projects in 15 cities. Has sold its two wholly-owned subsidiaries HDFC Developers and HDFC Realty to Quikr India for a consideration of 1.02 bln rupees and 2.55 bln rupees respectively.
* INDIAN OVERSEAS BANK: Has said that the Reserve Bank of India has found unacceptable its contention on lower bad loan numbers for 2016-17 (Apr-Mar).
* INFOSYS: The company's wholly-owned subsidiary, Skava, has joined as a technology partner with Hewlett Packard Enterprise driven Cloud28+ community and digital platform.
* KHAITAN ELECTRICALS: Seasite Finance, financial creditor to the company, has filed an application with the National Company Law Tribunal, Hyderabad, for initiation of corporate insolvency resolution proceedings against the company.
* MARUTI SUZUKI INDIA: Plans to come up with a framework on electric cars by February when it completes its market survey for such vehicles.
* METALYST FORGINGS: The National Company Law Tribunal has admitted STATE BANK OF INDIA's insolvency plea against the company.
* NAVIN FLUORINE INTERNATIONAL: The company's board has approved a capital expenditure of 1.15 bln rupees for creating additional current good manufacturing practice capacity and infrastructure at its facilities at Dewas in Madhya Pradesh.
* POLARIS CONSULTING & SERVICES: Kotak Mahindra Asset Management Co sold 622,018 shares or 0.61% stake in the company at 358.68 rupees per share in a bulk deal on the National Stock Exchange.
* ORTEL COMMUNICATIONS: The company has unveiled its new unlimited data plans starting from 99 rupees per month.
* RELIANCE INDUSTRIES: Said has no disclosures to make after a report on Wednesday claimed that the company's telecom subsidiary plans to acquire assets of the debt-laden RELIANCE COMMUNICATIONS.
* RELIANCE POWER: Has approached the Delhi High Court seeking early allocation of coal to its power plant in Maharashtra.
* SRS: Has signed a memorandum of understanding with Spencer's Retail to sell the SRS Value Bazaar business for 320 mln rupees.
* STATE BANK OF INDIA: The bank will seek the board's approval on Wednesday to raise tier-I capital from domestic and international markets till Mar 31. SBI Card, the credit card venture of the bank, has tied up with BHARAT PETROLEUM CORP to launch the BPCL-SBI Card, which will offer up to 5% savings on fuel purchases, SBI Card said.
* STEEL STRIPS WHEELS: Has bagged an export order worth $2.15 mln from Egypt for 32,000 wheels.
* SUN PHARMA ADVANCED RESEARCH CO: The company's stake in Sun Pharma Advanced has increased to 5.35% after conversion of warrants into shares.
* TATA CONSULTANCY SERVICES: Has won a $2.25-bln outsourcing contract from television ratings measurement company Nielsen.
* TECH MAHINDRA: Has partnered with consulting firm Gao Feng Advisory company to set up a joint artificial intelligence laboratory in Shanghai.
* VIAAN INDUSTRIES: Has issued 1.5 mln convertible equity warrants at an issue price of 42 rupees each to the promoters of the company.
* WIPRO: Has said Azim Premji Trust, along with other promoter entities, has sold its 2.73% stake for more than 57 bln rupees in the recently concluded share buyback offer.
* ZEE MEDIA CORP: Launched television news channel in Uttar Pradesh and Uttarakhand.
CLICK HERE
*********************************************************************************
* AARTI INDUSTRIES: The board has approved buyback of up to 820,383 shares at 1,200 rupees per share.
* BAJAJ FINSERV: Subsidiary Bajaj Allianz Life Insurance Co has tied up with NKGSB Co-operative Bank as a corporate agent for a three-year period.
* BANK OF BARODA: KT Corp and private equity fund Baring Asia are among suitors vying to purchase up to 100% stake in the bank's credit and debit card unit.
* BANK OF INDIA: Will shut 400 automated teller machines to contain costs as part of a turnaround plan.
* BHARTI AIRTEL: The Unique Identification Authority of India has allowed the company to resume Aadhaar-based electronic know-your-customer services.
* BHUSHAN STEEL: The National Company Law Tribunal has granted the company's committee of creditors permission to extend the resolution period by 90 days beyond the initial 180-day time frame.
* BIOCON: Is likely to take its group entity Biocon Biologics public and is expected to raise about $500 mln.
* CANARA BANK: It has empanelled merchant bankers to sell 4% stake in CAN FIN HOMES, which will bring down its stake in the mortgage lending arm to 26%.
* EDELWEISS FINANCIAL SERVICES: Arm Edelweiss Alternative Asset Advisors has said it will launch an infrastructure fund with a target to raise 20 bln rupees.
* HOUSING DEVELOPMENT FINANCE CORP: Arm HDFC Capital Advisors has launched a $1-bln platform to fund affordable and mid-income residential housing projects in 15 cities. Has sold its two wholly-owned subsidiaries HDFC Developers and HDFC Realty to Quikr India for a consideration of 1.02 bln rupees and 2.55 bln rupees respectively.
* INDIAN OVERSEAS BANK: Has said that the Reserve Bank of India has found unacceptable its contention on lower bad loan numbers for 2016-17 (Apr-Mar).
* INFOSYS: The company's wholly-owned subsidiary, Skava, has joined as a technology partner with Hewlett Packard Enterprise driven Cloud28+ community and digital platform.
* KHAITAN ELECTRICALS: Seasite Finance, financial creditor to the company, has filed an application with the National Company Law Tribunal, Hyderabad, for initiation of corporate insolvency resolution proceedings against the company.
* MARUTI SUZUKI INDIA: Plans to come up with a framework on electric cars by February when it completes its market survey for such vehicles.
* METALYST FORGINGS: The National Company Law Tribunal has admitted STATE BANK OF INDIA's insolvency plea against the company.
* NAVIN FLUORINE INTERNATIONAL: The company's board has approved a capital expenditure of 1.15 bln rupees for creating additional current good manufacturing practice capacity and infrastructure at its facilities at Dewas in Madhya Pradesh.
* POLARIS CONSULTING & SERVICES: Kotak Mahindra Asset Management Co sold 622,018 shares or 0.61% stake in the company at 358.68 rupees per share in a bulk deal on the National Stock Exchange.
* ORTEL COMMUNICATIONS: The company has unveiled its new unlimited data plans starting from 99 rupees per month.
* RELIANCE INDUSTRIES: Said has no disclosures to make after a report on Wednesday claimed that the company's telecom subsidiary plans to acquire assets of the debt-laden RELIANCE COMMUNICATIONS.
* RELIANCE POWER: Has approached the Delhi High Court seeking early allocation of coal to its power plant in Maharashtra.
* SRS: Has signed a memorandum of understanding with Spencer's Retail to sell the SRS Value Bazaar business for 320 mln rupees.
* STATE BANK OF INDIA: The bank will seek the board's approval on Wednesday to raise tier-I capital from domestic and international markets till Mar 31. SBI Card, the credit card venture of the bank, has tied up with BHARAT PETROLEUM CORP to launch the BPCL-SBI Card, which will offer up to 5% savings on fuel purchases, SBI Card said.
* STEEL STRIPS WHEELS: Has bagged an export order worth $2.15 mln from Egypt for 32,000 wheels.
* SUN PHARMA ADVANCED RESEARCH CO: The company's stake in Sun Pharma Advanced has increased to 5.35% after conversion of warrants into shares.
* TATA CONSULTANCY SERVICES: Has won a $2.25-bln outsourcing contract from television ratings measurement company Nielsen.
* TECH MAHINDRA: Has partnered with consulting firm Gao Feng Advisory company to set up a joint artificial intelligence laboratory in Shanghai.
* VIAAN INDUSTRIES: Has issued 1.5 mln convertible equity warrants at an issue price of 42 rupees each to the promoters of the company.
* WIPRO: Has said Azim Premji Trust, along with other promoter entities, has sold its 2.73% stake for more than 57 bln rupees in the recently concluded share buyback offer.
* ZEE MEDIA CORP: Launched television news channel in Uttar Pradesh and Uttarakhand.
