* ABB INDIA: Has started a smart factory on its Neelamangala manufacturing campus in Bengaluru for production of solutions to secure power systems against voltage fluctuations.
* ABG SHIPYARD: London-based metals group Liberty House has offered to pump in 52 bln rupees on a deferred payment basis of over five to ten years for the company, in a fresh round of bidding for the debt-laden shipbuilder that closed on Tuesday.
* BANDHAN BANK: Nomura India Investment Fund has bought 8.3 mln shares of the bank at 478.76 rupees per share through a bulk deal on the National Stock Exchange.
* BINANI INDUSTRIES: The NCLT bench of Kolkata has asked the Committee of Creditors whether it could consider the application filed by the company, the parent company of stressed Binani Cement, for a settlement outside the tribunal.
* BLUE STAR: With anticipation of a severe summer this year, the company has estimated on-year sales growth of 30% for 2018-19 (Apr-Mar), against an expected 17% growth in 2017-18, Joint Managing Director B. Thiagarajan said.
* CANARA BANK: Has alloted 135.95 mln shares at 357.84 rupees per share to the government.
* CENTRAL DEPOSITORY SERVICES (INDIA): The company's subsidiary, CDSL Ventures, has been granted approval to act as a registrar and share transfer agent by the Securities and Exchange Board of India.
* COAL INDIA: In order to overcome supply hurdles, the company is looking at effective utilisation of road network to deliver dry fuel to customers, specially power plants. New pricing system may raise fuel costs because the monopoly would end up charging for moisture content in consignments, its consumers have complained.
* DENA BANK: Has completed the allotment and issuance of about 1.13 bln shares worth 30.45 bln rupees to the government of India on a preferential basis at 26.99 rupees.
* DILIP BUILDCON: Has received a letter of award from the National Highways Authority of India for an 8.42-bln-rupee project for four-laning of Byrapura to Challakere section of National Highway 150A in Karnataka, on a hybrid annuity mode.
* FORTIS HEALTHCARE: The board of Fortis Healthcare Ltd late Tuesday approved a proposal for a two-step merger of its hospital business with that of Manipal Hospital Enterprises Pvt Ltd to form Indias largest healthcare chain by revenue.
* GAIL INDIA: Has offered three liquefied natural gas cargoes for May to July loading from Sabine Pass in the US.
* GITANJALI GEMS: A consortium of 31 lenders led by ICICI BANK has mandated BDO India to conduct a forensic audit of the company to determine the modus operandi of the alleged fraud using PUNJAB NATIONAL BANK guarantees.
* GREAT EASTERN SHIPPING CO: The board of the company will on Apr 3 consider raising up to 3 bln rupees through non-convertible debentures.
* ICICI BANK: Following the Reserve Bank of India's revised framework for the resolution of stressed assets, the bank's Jan-Mar delinquency levels may rise to 2% compared with 80-90 basis points during each of the past three quarters.
* ICRA: The revenue and operating income of telecom companies may begin to recover from the second half of 2018- 19 (Apr-Mar), though overall financials will still be lower than what they were before the tariff onslaught by Reliance Jio Infocomm in September 2016.
* IDBI BANK: Has appointed an external expert associated with audit reforms in public sector banks to audit its internal functions. Has raised 78.81 bln rupees through capital infusion from the government.
* IDEA CELLULAR: The much-awaited merger of the Vodafone India and the company is in the final stages with clearances relating to FDI and licence liberalisation among others pending, telecom secretary Aruna Sundararajan said on Tuesday.
* IFCI: The company on Monday sold 0.02% stake or 100,000 shares of National Stock Exchange at 873.74 rupees apiece.
* INDIABULLS HOUSING FINANCE: Has raised 15 bln rupees through the issuance of 10-year subordinated bonds at a coupon of 8.80%.
* JINDAL DRILLING & INDUSTRIES: Out of an arbitration award of $31.77 mln, the company will record $9.1 mln in the current financial year.
* JHS SVENDGAARD LABORATORIES: The board has approved investment of up to 130 mln rupees from its accruals in subsidiary JHS Svendgaard Brands, and JHS Svendgaard Retail Ventures.
* KALPATARU POWER TRANSMISSION: The company's arm JMC Projects (India) has secured construction orders worth 6.34 bln rupees.
* KEC INTERNATIONAL: Has acquired 6,300 shares representing 2.10% stake in Al Sharif Group and KEC Co for 45 mln rupees.
* LUPIN: The company has received the US Food and Drug Administration's final approval to market clobetasol propionate spray, 0.05%, a generic version of Galderma Laboratories LP's Clobex spray.
* MAJESCO: A tier 1 global property and casualty insurance company, a client for 12 years, has selected the company's billing product for its greenfield small commercial products.
* MEP INFRASTRUCTURE DEVELOPERS: The company, in a joint venture with LongJian Road & Bridge Co, has received letter of awards from National Highways Authority of India for three road projects in Maharashtra.
* NESTLE INDIA: Is launching a lower-sugar Milkybar made with a new version of the sweetener that could help ease the $185 bln confectionery industry's growing public health headache.
*NIIT TECHNOLOGIES: Has re-designated Rajesh S. Pawar as chairman with effect from Tuesday.
* ORCHID PHARMA: The resolution professional has extended the deadline for submission of resolution plans to Apr 10 from Mar 15.
* PERSISTENT SYSTEMS: The company expects a sequential drop of about $8 mln in revenue from intellectual property for the current quarter.
* PIRAMAL ENTERPRISES: India Resurgent Fund, a Cayman Islands Ltd partnership and a joint venture between Bain Capital Credit and Piramal Enterprises, is set to launch a $1-bln fund for investing in distressed assets in the country.
* POWER FINANCE CORP: Is likely to set 7.85% as the semi-annual coupon on its issuance of 10-year bonds.
* PUNJAB ALKALIES & CHEMICALS: IDBI BANK has sold 205,219 shares or 0.76% stake in the company at 36.83 rupees per share in a bulk deal on the BSE.
* PUNJAB & SIND BANK: Has allotted 164.50 mln shares to the government on a preferential basis at 47.72 rupees per share.
* PUNJAB NATIONAL BANK: Has informed stock exchanges that it has serviced the 1.51-bln-rupee coupon on its longterm bonds carrying 8.35% rate. Reiterated that it would honour all bonafide commitments to other banks which are also entangled in the 136-bln-rupee letter of undertaking fraud involving firms promoted by Nirav Modi.
- The Reserve Bank of India had agreed in principle to a request by the bank to spread its losses related to the Nirav Modi-Mehul Choksi fraud over four quarters. A New York court has approved the bidding procedure for assets sale by firms linked to jeweller Nirav Modi, who is at the centre of the $2-bln fraud at the bank.
* RELIANCE COMMUNICATIONS: Sistema Shyam Teleservices disposed 2.91% stake or 80.38 mln shares of the company on Friday.
* RELIANCE INDUSTRIES: As part of its plan to exit the shale assets it had acquired in the US, the company today announced that it would, along with its subsidiary Reliance Holding USA Inc, sell "select assets" to Sundance Energy Inc for $100 mln.
* RELIANCE INFRASTRUCTURE: The committee of directors of the company has approved the issue of non-convertible debentures worth up to 10 bln rupees on private placement basis.
* RURAL ELECTRIFICATION CORP: Subsidiary REC Transmission Projects has transferred its entire share in WR-NR Power Transmission to POWER GRID CORP OF INDIA.
* STATE BANK OF INDIA: The bank's board has approved allotment of 292.53 mln shares to the government on a preferential basis at an issue price of 300.82 rupees per share for a consideration of 87.99 bln rupees.
* SHREE RENUKA SUGARS: ICICI Bank has acquired 190.75 mln shares or 9.95% stake in the company upon conversion of debt into equity shares.
* STERLITE TECHNOLOGIES: Has raised 1.5 bln rupees through the issuance of bonds maturing in Apr 2021 at a coupon of 8.70%.
* TATA MOTORS: Arm, Jaguar Land Rover and Waymo have inked a long-term strategic partnership to develop the world's first premium self-driving electric vehicle.
* TEJAS NETWORKS: Has received an order worth 3.36 bln rupees from Bharat Sanchar Nigam for project expansion of BharatNet.
* UCO BANK: The bank will recall five of its Basel III-compliant additional tier-I bonds on Apr 25, ahead of its scheduled call date, as the bank has been placed under the Reserve Bank of India's prompt corrective action plan.
* ULTRATECH CEMENT: The bankruptcy court suggested an out-of-court settlement between Binani Cement and its lenders, almost paving the way for the company's takeover of the troubled company outside the insolvency proceedings.
* UNION BANK OF INDIA: The bank has allotted 312.82 mln shares at 144.62 rupees per share to the government.
* WIPRO: Has unveiled Texas Technology Center at Plano in Texas, US.
* AVIATION: The government plans to sell 76% stake each in Air India and its subsidiary Air India Express, a source told Cogencis. For other Air India operations ranging from flight kitchen to engineering services, the government plans to sell 50-100% stake. The Directorate General of Civil Aviation is working on a policy that will mandate airlines to increase flights to non-trunk routes so as to keep airfares reasonable to small cities.
* BANKING: The Reserve Bank of India said that banks will remain closed on Monday for annual closing of their accounts. The Reserve Bank of India has restarted the tradition of holding meetings with top bankers to get industry inputs ahead of meetings of the central bank's Monetary Policy Committee. Governance issues had been evident in public sector banks and the banking sector needed to be cleaned up in more ways than one, said Bibek Debroy, chairman of economic advisory council to the Prime Minister.
- Bank branches will remain open till 2000 IST on Saturday to allow tax payers to complete transactions on the last day of the fiscal year. The committee reviewing the Insolvency and Bankruptcy Code has proposed that a case admitted for resolution can be withdrawn if 90% of creditors agree, implying that unsuccessful bidders could get back in the reckoning for an asset with a better deal.
* CAPITAL GOODS: The capital goods sector is expected to recover after declining between 2011 and 2017, on the back of an expected increase of large orders in the sector over the next three years, Motilal Oswal Securities said in a report.
* ECONOMY: India expressed hopes that its two-way trade with Africa would reach $150 bln in the next five years from $52 bln currently.
* ENERGY: Citing urgency in the need for maintaining quality of solar equipment being deployed in the country, ministry of new and renewable energy has brought forward the implementation date of a quality control order that requires sellers and manufacturers of solar photovoltaic modules to have their products registered under parameters set by the Bureau of Indian Standards.
* FAST-MOVING CONSUMER GOODS: India's food regulator plans to bring about comprehensive amendments to licensing and registration regulations, classifying businesses based on turnover in order to align them with the goods and services tax.
* GOVERNMENT: The Central Board of Direct Taxes has extended the deadline for linking Aadhaar numbers with Permanent Account Numbers to Jun 30, the government said.
* INFORMATION TECHNOLOGY: In the context of Cognizant under the scanner of the income tax department for allegedly evading dividend distribution tax, the Income Tax Department has frozen some bank accounts and deposits held by software exporter Cognizant Technology Solutions, confirmed a highly placed official with the Income Tax Department.
* INFRASTRUCTURE: The government has approved construction of 321,567 affordable houses for urban poor with central assistance of 47.52 bln rupees under the 'Pradhan Mantri Awas Yojana (Urban)' scheme. The government has imposed a definitive anti-dumping duty on veneered engineered wooden flooring from China, Malaysia, Indonesia and the European Union for a period of five years.
* METALS: Valuations of aluminium producers are attractive as the share prices of these companies are not factoring in a structural improvement in aluminium prices over the next two years.
* OIL & GAS: Oil hit $71 a barrel before retreating, supported by concerns over possible disruption to West Asia supply but capped by fast rising global output and a dollar recovery.
* POWER: Officials from the power ministry will meet finance ministry officials on Wednesday to discuss issues related to the stressed assets in the sector as well as the new Reserve Bank of India guidelines on non-performing assets.
* REGULATORY: Markets regulator Securities and Exchange Board Of India exempted the central government from making an open offer for the shareholders of three lenders - DENA BANK, IDBI BANK and BANK OF INDIA - following capital infusion. A Securities and Exchange Board of India constituted committee to review norms for market infrastructure institutes has recommended steps to improve governance at exchanges, depositories, clearing corporations and registrar agents.
- SEBI will discuss a slew of measures at its board meeting today for strengthening the algo trading framework, amending norms for companies undergoing bankruptcy proceedings and increasing regulatory oversight on auditors. Asset managers have overcharged mutual fund investors by as much as 15 bln rupees in the last five years by unfairly charging fees, according to an internal study by the market regulator.
* STEEL: The Ahmedabad bench of the National Company Law Tribunal on Tuesday adjourned the hearing on the petitions filed by ArcelorMittal and Numetal, challenging the ineligibility of their bids for Essar Steel. Steel producers may look at increasing prices at home, as macro trends show signs of a global recovery and as they try to extract maximum benefit from pricing in the first quarter before the lax monsoon season sets in.
- The National Company Law Tribunal declined to stay the second round of bidding for the bankrupt Essar Steel or defer the deadline for it as sought by Numetal, and asked the committee of creditors not to decide on the bids till the final hearing on Apr 4.
* TAXATION: The income-tax department told the Madras High Court that it has asked banks last week to freeze funds to the tune of 25 bln rupees held as deposits by Cognizant Technology Solutions, due to a dispute over unpaid dividend tax by the company.
* TELECOMMUNICATION: US technology giant Apple Inc and India's telecom regulator are at loggerheads over the development of a government anti-spam mobile application, with user privacy at the heart of a deepening rift between both sides.
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Indian equities are likely to open lower on Wednesday, tracking bearish cues from Nifty futures on the Singapore Stock Exchange and negative trend across the Asian markets. Overseas, Asian stocks were trading lower mirroring weakness in the Wall Street amid concerns over a potential trade war between China and the US as well as selling in technology names. Back home, bearish trend in the SGX Nifty Index Futures for March delivery, which was trading at 10,148.50, down 61.50 points.