Today Stock News – 06.06.2018

Today Stock News – 06.06.2018


* ADF FOODS: The board of the company has approved buyback of 1 mln shares, accounting for 4.71% stake, at a price of up to 300 rupees apiece for an aggregate amount of up to 30 mln rupees.

* ALLCARGO LOGISTICS: Avvashya CCI Logistics, a unit of the company, will invest 4 bln rupees by 2022 to expand its warehousing capacity to 10 mln sq ft.

* ATLANTA: The company's board has appointed Suresh C. Maniar & Co as statutory auditors for 2017-18 (Apr-Mar).

* AXIS BANK: RBI is yet to approve payment of 13.5 mln rupees as variable pay to the bank's managing director and chief executive officer Shikha Sharma for the year ended March 2017.

* BANDHAN BANK: Has appointed Harun Rashid Khan, a former Reserve Bank of India's deputy governor as the non-executive, part-time chairman of the bank.

* BANK OF BARODA: Will raise its marginal cost of funds-based lending rates by 5 basis points in June, effective Thursday.

* BHARTI AIRTEL: The company will soon provide unified bills to customers using its services like
broadband, fixed line, postpaid mobile and digital television, offering discount of up to 10% on the single bill based on the number of connections bundled.

* GUJARAT AMBUJA EXPORTS: Has not received any instruction or communication by National Green Tribunal or any other authority regarding closure of units.

* HERO MOTOCORP: The company-backed Ather Energy has launched its first electric scooter Ather 340 at an all inclusive price of 109,750 rupees.

* HINDUSTAN COPPER: May raise 8 bln rupees to fund expansion and diversification projects.

* IIFL HOLDINGS: Subsidiary India Infoline Investment Services picked up over 4% stake in private sector player LAKSHMI VILAS BANK for 1.06 bln rupees, through an open market transaction.

* INDIABULLS HOUSING FINANCE: Has raised 1.45 bln rupees through two non-convertible debentures.

* INFOSYS: Infosys Finacle, part of wholly-owned subsidiary EdgeVerve Systems, has successfully implemented the finacle core banking and analytics solutions at Oman-based Bank Sohar.

* JINDAL STEEL & POWER: Naveen Jindal has been questioned by the Central Bureau of Investigation in connection with a 2014 case registered by the probe agency against the compa

* KIRLOSKAR OIL ENGINES: Has announced a price increase of 5-8% on its entire range of 2 to 1010kVA Power Generator Sets under KOEL Green & KOEL Chhota Chilli brands.

* MAHINDRA & MAHINDRA: Total vehicle production in May was up 17.9% at 52,781 units, against 44,783 units in the year-ago period. Mahindra Electric, part of the Mahindra Group, has signed an agreement with Auroville, a township near Puducherry that has been focussing on sustainable practices, to pilot  an integrated sustainable mobility ecosystem for a community.

* MARUTI SUZUKI INDIA: Plans to install a 5-MW solar power plant at its Gurugram facility in 2018-19 (Apr-Mar). Is investing in new technologies to further reduce carbon dioxide emissions per vehicle.

* MCLEOD RUSSEL: Has entered into a memorandum of understanding with M K Shah Exports to sell some tea estates for 3.31 bln rupees, subject to financial due diligence.

* NACL INDUSTRIES: Has entered into a binding memorandum of understanding with Hyderabad-based ATGC Biotech to form a joint venture.

* NMDC: The company's total iron ore sales fell over 31% on year to 4.52 mln tn in Apr-May.

* ORIENT CEMENT: After jettisoning the deal to buy 2 cement units from the distressed Jaypee group, the company plans to invest 36 bln rupees over the next 5 years to expand its existing cement-making capacity to 15 mln tn per annum from the current 8 mln tn per annum.

* RAJ OIL MILLS: Lenders have decided to repay fixed deposit holders, who had invested in the company, their dues in full.

* RELIANCE INDUSTRIES: The Ministry of Electronics and IT empanelled arm Reliance Corporate Information Technology Park as a cloud services provider last week.

* REVATHI EQUIPMENT: Has sold its plant in Gummidipoondi, Tamil Nadu, for 82.50 mln rupees.

* RUCHI SOYA INDUSTRIES: The company's lenders have asked Patanjali Ayurved and Adani Wilmar to submit updated bids in lieu of acquiring the stressed firm.

* SHRI LAKSHMI COTSYN: The Allahabad bench of the National Company Law Tribunal has initiated insolvency resolution proceedings against the company on a plea filed by UNION BANK OF INDIA.

* TATA COMMUNICATIONS: The company will provide mobile connectivity to Hong Kong-based Doki Technologies, using third-generation and 4G networks with its 'Move' platform.

* TATA CONSULTANCY SERVICES: Has launched 'Connected Intelligence Platform', a software to enable companies improve customer experience. Is bunching the 477 bln rupees of its cash reserves in short and long-tenure securities to balance its need for easy liquidity with safety as it looks to make significant payouts to shareholders each year.

* TATA MOTORS: Is working on close to a dozen electric and hybrid vehicle solutions in the commercial vehicle space and is simultaneously moving towards a dedicated electric vehicle platform in the passenger vehicle front.

* UTTAM GALVA STEELS: The Miglani family, promoters of the company, has agreed to repay the 100% dues of the company and its subsidiaries to lenders.

* VEDANTA: The government is likely to appeal against the Delhi High Court order in favour of Cairn, an arm of the company that mandated that the initial terms must continue for the company's extended productionsharing contract with the government for its prolific Barmer block.

* WIPRO: Is in talks to invest $250 mln in the holding company of Kishore Biyani's Future Group.