Today Stock News – 28.09.2018

Today Stock News – 28.09.2018


* 3I INFOTECH: Allotted 366,119 shares against conversion of foreign currency convertible bonds worth $179,400.

* ABB INDIA: Has launched a wall-mounted electric vehicle charger named EVLunic AC wallbox for the Indian market.

* ADLABS ENTERTAINMENT: Is facing difficulties over the planned sale of its hotel to help repay loans taken to develop the Adlabs Imagica theme park.

* ANDREW YULE & CO: The Cabinet Committee on Economic Affairs has approved the merger of the company's wholly-owned subsidiary Hooghly Printing Co Ltd with itself.

* APOLLO TYRES: Minority shareholders of the company have rejected the re-appointment of Neeraj Kanwar as managing director.

* ASTEC LIFESCIENCES: Started commercial production and operation at its newly set-up manufacturing unit in Maharashtra.

* CANARA BANK: The board has approved raising up to 60 bln rupees through a qualified institutional placement of shares. The bank, a minority shareholder in Ratnagiri Gas and Power, has moved the New Delhi bankruptcy court months after a debt recast plan and demerger was approved.

* COCHIN SHIPYARD: Has entered into a memorandum of understanding with the Andaman and Nicobar administration to operate and maintain a dry dock at Port Blair.

* DB REALTY: Has entered into a share-purchase agreement to buy shares of its subsidiary Neelkamal Realtors Tower held by Vistra ITCL (India) and IIRF Holdings VII.

* DEWAN HOUSING FINANCE CORP: BNP Paribas Arbitrage has bought 1.56% stake or 4.9 mln shares in the company at 296.28 rupees apiece through a bulk deal on the National Stock Exchange.

* DIXON TECHNOLOGIES (INDIA): Reliance Mutual Fund has bought 1.57% or 178,426 shares in the company at 2,550.01 rupees apiece in a bulk deal on the BSE.

* EICHER MOTORS: The ongoing strike by workers of the Royal Enfield plant at Oragadam, Chennai, has been called off after an agreement was reached between the employees' union and the management on Thursday.

* EIH: The board has appointed Kallol Kundu as the chief financial officer of the company, effective from Monday.

* EIMCO ELECON (INDIA): Has entered into a technology and licence agreement with US-based CZM USA Corp to design, manufacture and sell drilling rigs used in the construction sector.

* EVEREST KANTO CYLINDER: The board has approved the closure and winding up of business operations of its wholly-owned subsidiary EKC Industries (Thailand) Co.

* FLEXITUFF INTERNATIONAL: Has received approval from the Reserve Bank of India for a 48-month extension from Jun 30 to repay foreign currency convertible bonds of $25 mln issued to TPG Growth II SF.

* HINDUSTAN COPPER: Plans to raise 14 bln rupees through qualified institutional placement.

* HOUSING DEVELOPMENT FINANCE CORP: Vice-Chairman and Chief Executive Officer Keki Mistry has said insufficient working capital and high funding cost for land purchase are hitting property developers.

* IDFC BANK: Several senior executives of the bank, which recently got regulatory approval to merge with CAPITAL FIRST, are said to be leaving the company.

* IL&FS ENGINEERING AND CONSTRUCTION CO: Non-executive independent director of the company, Debabrata Sarkar, has resigned from his post with effect from Wednesday.

* IL&FS TRANSPORTATION NETWORKS: Has not signed any definite agreement with any investors to sell its assets.

* INDIABULLS HOUSING FINANCE: The Securities and Exchange Board of India has sought details from mutual funds about their exposure to DEWAN HOUSING FINANCE CORP and the company.

* INDIABULLS REAL ESTATE: Raised 250 mln rupees through non-convertible debentures maturing in one year and one day.

* INDIAN HOTELS CO: Has signed pact with with R&R Hotels and Resorts to open a new Vivanta hotel in Kathmandu in Nepal.

* INDO AMINES: The board has approved merger of Core Chemicals (Mumbai) and wholly-owned subsidiary Key Organics with itself, subject to approval from the National Company Law Tribunal.

* INDOWIND ENERGY: The board has approved allotment of 103,208 shares to Merill Lynch International upon conversion of foreign currency convertible bonds worth $100,000.

* ITC: The company and Tata Group-owned INDIAN HOTELS CO will be the two companies to bid during the e-auction of 33-year lease of iconic Taj Mahal Hotel.

* JET AIRWAYS (INDIA): Has informed lenders that it will raise about 35 bln rupees over the next six months through a stake sale in its loyalty programme and infusion of fresh funds into the company.

* JINDAL STAINLESS: Plans to invest 15 bln rupees to expand the capacity of its Steel Melting Shop to 2.2 mtpa and double its cold roll mill capacity to 1.6 mtpa.

* KARNATAKA BANK: The bank has launched a quick response code-based two-wheeler insurance product in association with Bajaj Allianz General Insurance Co.

* KESORAM INDUSTRIES: The Karnataka government has approved the company's proposal to buy around 675 acres of land for mining activities.

* LEEL ELECTRICALS: Has been selected by HINDUSTAN AERONAUTICS to design, develop,
manufacture, and supply oil cooling system, including heat exchanger, for its helicopter platform.

* MODERN INDIA: Has entered into a limited-liability partnership with Prime Tech Textiles LLP to carry out textile business, and has incorporated a new entity--Primo Tech Textiles LLP.

* PUNJAB NATIONAL BANK: The board has approved raising 54.31 bln rupees through preferential allotment of shares to the government.

* RAJSHREE POLYPACK: Unifi Capital's Alternative Investment Fund has sold 1.2% or 100,000 shares in the company at 120 rupees apiece through a bulk deal on the National Stock Exchange.

* RELIANCE COMMUNICATIONS: Has said that One97 Communications, has filed an insolvency plea against the company, and two subsidiaries.

* RELIANCE INFRASTRUCTURE: Promoter Reliance Project Ventures and Management has pledged 4.91% stake of the company.

* RELIANCE POWER: Promoter Reliance Project Ventures and Management has pledged 2.69% stake of the company.

* SREI INFRASTRUCTURE FINANCE: Assured stakeholders that it has been meeting its liability
commitments to banks, financial institutions, and investors on time and that it has enough liquidity to honour all its obligations.

* TATA COMMUNICATIONS: Has unveiled a cyber security response centre in Chennai.

* YES BANK: The bank has denied all allegations of window dressing of corporate accounts to conceal the actual non-performing asset picture, and also said it has no links with The Three Sisters family office.