Today Stock News – 19.10.2018

Today Stock News – 19.10.2018

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* ABB INDIA: Has won a 1.15-bln-rupee order from the railways to supply traction transformers for electric locomotive.

* CENTRAL BANK OF INDIA: Has exposure of less than 2% of IL&FS group companies' external debt by way of credit and investments.

* COCHIN SHIPYARD: Set to get the lease for Mumbai Port Trust's Hughes Dry Dock facility as well as four berths at the Indira Dock on Saturday.

* DEWAN HOUSING FINANCE CORP: Pension Reserves Investment Trust Fund has sold another 2.52 mln shares, or 0.80% stake, in the company at 245.92 rupees per share through a bulk deal on the National Stock Exchange.

* FORTIS HEALTHCARE: The Securities and Exchange Board of India has ordered the company to take all necessary steps to recover 4.03 bln rupees, along with interest, from its former promoters, Malvinder Mohan Singh and Shivinder Mohan Singh, within three months.

* GVK POWER & INFRASTRUCTURE: Plans to raise up to 80 bln rupees by divesting a stake in its airports business and other verticals.

* INDIAN OIL CORP: The company, HINDUSTAN OIL EXPLORATION CO and OIL INDIA, owners of the AAP-ON-94/1 block in Assam-Arakan basin, have submitted a revised development plan, upgrading the extractable gas reserves estimates, a source told.
-Has reduced prices of petrol and diesel by 21 paise per ltr and 11 paise per ltr, respectively, in Delhi with corresponding changes in other states.

* IRB INFRASTRUCTURE DEVELOPERS: It has tied up 9.81 bln rupees finances from lenders for a project to widen a section of Vadodara-Mumbai Expressway.

* JET AIRWAYS INDIA: The Tata Group wants complete control over the company along with the exit of existing promoters, the Goyal family, and has rejected an initial proposal for part-ownership and joint control of the airline.

* JSW STEEL: May not pursue its interest in buying out bankrupt Essar Steel if it wins the stressed
BHUSHAN POWER AND STEEL asset instead.

* KWALITY: KKR India Financial Services has filed an insolvency plea against the company before the National Company Law Tribunal.

* LARSEN & TOUBRO: The world's largest nuclear fusion reactor is on track to go online in France in  2025, with the company delivering major components for the international project from its strategic facility in Hazira.

* MAHINDRA & MAHINDRA: Entered into a pact with Ford India to supply petrol engines and will also jointly develop connected car solutions, as part of two definitive agreements.

* NATIONAL ALUMINIUM CO: Has cut prices of aluminium alloy ingots and sow ingots by nearly 2% with effect from today, trade sources told.

* NEW DELHI TELEVISION: The Enforcement Directorate on Thursday issued show cause notice to the company for alleged violations of FEMA provisions relating to receipt of foreign investments amounting to over 40 bln rupees-16.37 rupees in foreign direct investment and 27.32 bln rupees overseas investments.

* NMDC: Confirmed that its iron ore production in Apr-Sep was 12.2 mln tn and sales were 13.4 mln tn.

* NTPC: Plans to raise $150 mln in foreign currency term loan to finance its capital expenditure.

* OIL AND NATURAL GAS CORP: Its finances are as sound as ever and is generating enough revenues to meet all its capital and operating expenditures as well as any additional merit-based requirement.

* PUNJAB NATIONAL BANK: Allotted 312.99 mln shares at 89.97 rupees each, aggregating 28.16 bln rupees, to the government.

* RAMCO SYSTEMS: Will provide a management information system data pack connector to Airbus Helicopters SAS, which will automate the airline's fleet management data.

* RELIANCE INDUSTRIES: Moved to strengthen its reach in the home entertainment space with the acquisition of two of India's largest terrestrial cable network companies--HATHWAY CABLE AND DATACOM and DEN NETWORKS.
-The board has appointed Arundhati Bhattacharya as an independent director of the company for a term of five years, effective Wednesday.
-The company's wholly-owned subsidiary Reliance Industrial Investments and Holdings has acquired 12.7% stake in US-based SkyTran Inc.

* RELIGARE ENTERPRISES: Religare Finvest said it would file its response with SEBI over the regulator's observation that the company was allegedly an ultimate beneficiary of inter-corporate loans of 2 bln rupees by FORTIS HEALTHCARE.

* RESPONSIVE INDUSTRIES: Board has approved buyback of 20.75 mln shares at 77 rupees each, for an aggregate amount of up to 1.59 bln rupees, through the tender offer route.

* SAYAJI INDUSTRIES: Board of directors will meet on Nov 3 to consider a stock split.

* STATE BANK OF INDIA: At a meeting on Monday, the board of directors will consider raising equity from the market in 2018-19 (Apr-Mar).

* STEEL AUTHORITY OF INDIA: Raised prices of steel bars by 1-4% across regions, for October.

* UTTAM GALVA STEELS: ArcelorMittal approved payment of 74.69 bln rupees to bankers of the company and KSS Petron, thereby clearing a hurdle for the Laskhmi Mittal-led company to acquire Essar Steel India.

* YES BANK: The Reserve Bank of India reiterated that the bank will have to appoint a successor to current Chief Executive Officer and Managing Director Rana Kapoor by Feb 1. Managing Director and Chief Executive Officer Rana Kapoor has approached rival promoter Madhu Kapur with a proposal to combine their stakes and form a joint promoter group, a development that could end nearly a decade of disaffection and litigation among the promoters of the private lender.