Today Stock News – 13.04.2018

Today Stock News – 13.04.2018

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* BHARAT FORGE: Kalyani Rafael Advanced Systems, a joint venture between the company's subsidiary Kalyani Strategic Systems and Israel-based Rafael Advanced Defence Systems, will venture into missile systems.

* BHARTI AIRTEL: The Telecom Disputes Settlement and Appellate Tribunal has asked department of telecommunications to grant approval to Airtel-Telenor merger without any bank guarantee.

* COAL INDIA: Opportunities are poised to open for private oil and gas producers in coal-bed methane extraction. The company is likely to float global tenders to appoint service providers on this project.

* DALMIA BHARAT: Company's letters to the Central Vigilance Commission and the Reserve Bank of India asking for a probe into the race for the acquisition of Binani Cement has irked a major section of the lenders.

* DEWAN HOUSING FINANCE CORP: Has raised $150 mln through five-year masala bonds.

* FORTIS HEALTHCARE: The company said Hero Enterprise Investment Office and Burman Family Office have offered to infuse 12.50 bln rupees into the cash-strapped company through preferential

* JAIPRAKASH ASSOCIATES: Has deposited 1.25 bln rupees with the Supreme Court registry.

* JAYPEE INFRATECH: Suraksha and Dosti groups, which have emerged as the top contender to take over the ailing company have estimated that nearly 60 bln rupees is required to complete work in 250 towers in Jaypee Wishtown with a funding requirement of 20 bln rupees after budgeting for nearly 37.50 bln rupees due from home buyers.

* JSW STEEL: The company in partnership with AION Investments has received a letter of intent for the debt resolution plan submitted for MONNET ISPAT AND ENERGY under the Insolvency and Bankruptcy Code 2016. Said that the allegations that it being declared the successful bidder in the case of MONNET ISPAT & ENERGY flouted Section 29A of the Insolvency and Bankruptcy Code are incorrect.

* KWALITY: Letko Brosseau Emerging Markets Equity Fund has bought 3.65 mln shares or 1.5% stake in the company at 59 rupees each, in a bulk deal on the National Stock Exchange.

* LEMON TREE HOTELS: The company's wholly-owned subsidiary Carnation Hotels has signed an
operating agreement with Unicorn Real Estate for the group's Red Fox Hotel at Morjim, Goa.

* MAGMA FINCORP: The board has approved allotment of 32.26 mln shares to qualified institutional buyers at 155 rupees each, totalling around 5 bln rupees.

* MAHINDRA & MAHINDRA: Subsidiary Mahindra Defence Systems has entered into a partnership agreement with Boeing and Hindustan Aeronautics for manufacturing F/A-18 super hornet aircraft in India.

* MBL INFRASTRUCTURES: Has emerged as India's first road-builder to achieve a successful insolvency resolution on about 17 bln rupees of outstanding loans, with a STATE BANK OF INDIA-led consortium approving the revival plan.

* NBCC INDIA: Has secured total business of 7.70 bln rupees in March.

* NOIDA TOLL BRIDGE CO: The Delhi High Court has granted the company stay till Jul 23 against an Income Tax Department's order demanding tax dues.

* ORTEL COMMUNICATIONS: The board has allotted 10 mln non-convertible, cumulative and redeemable preference shares on a private placement basis, aggregating 100 mln rupees, to INDIAN METALS AND FERRO ALLOYS.

* PUNJ LLOYD: National Highways Authority of India has signed an agreement with the joint venture formed between the company and Varaha Infra to upgrade the Yagyi-Kalewa section of highway in Myanmar for 11.77 bln rupees.
 -The company is merely exploring opportunities to collaborate with Rave Gears and the Adani Group for design, manufacture and assembly of high-precision gears and transmission systems for rotary platforms.

* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm and France-based Sodexo have entered into a partnership to provide digital payment solutions.
 -Subsidiary Reliance Jio Infocomm has raised $500 mln through a syndicated Samurai loan from three Japanese banks, including Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui Banking Corporation and Mizuho Bank.

* STATE BANK OF INDIA: Two deputy general manager-level officers of the bank posted in Frankfurt in Germany and Mauritius are being questioned on Thursday by the CBI in connection with the $2 bln scam in PUNJAB NATIONAL BANK allegedly involving Nirav Modi and Mehul Choksi.
* STEEL AUTHORITY OF INDIA: Failed to meet its target to supply rails for Indian Railways during the fiscal year for 2017-18 (Apr-Mar), underscoring the problems of modernising the country's rail network.

* STEEL STRIPS WHEELS: The board has approved allotment of 750,000 warrants to promoter Sunena Garg at 1,162 rupees apiece, aggregating up to 871.5 mln rupees.

* UTTAM GALVA STEELS: STATE BANK OF INDIA has recommended Atul Tandon as the insolvency resolution professional for the company.

* VEDANTA: Vedanta Resources on Thursday said it will invest $700 mln in Zambian subsidiary Konkola Copper Mines to increase production level to 400,000 tonnes per annum.

* YES BANK: Has launched a credit product to help small businesses avail secured loans based on their Good and Services Tax returns.