Today Stock News – 19.11.2018

Today Stock News – 19.11.2018


* AJMERA REALTY & INFRA INDIA: The company, along with Mayfair Housing and Bahrain's Kooheji Golden Gate Developer, has launched a residential project named Golden Gate in Bahrain.

* AU SMALL FINANCE BANK: The board of directors of the bank will meet on Thursday to mull raising funds through Basel-III compliant tier-II non-convertible debentures on private placement basis.

* AUROBINDO PHARMA: Has received tentative approval from the US Food and Drug Administration for Abacavir Sulfate, Lamivudine. Is looking to launch first set of oncology, respiratory, complex injectables and topical products in the US in the next three years as part of plans to build a robust specialty products portfolio.

* BHARATI DEFENCE AND INFRASTRUCTURE: The Committee of Creditors discussed the company's financial and operational updates recently.

* DEEPAK NITRITE: Has clarified that search operations were carried out by the Income Tax Department.

* DR REDDY'S LABORATORIES: Has received no observations from the US Food and Drug
Administration for its formulations unit-II in Srikakulam, Andhra Pradesh.

* GAIL (INDIA): Is looking to buy 775 MW of wind energy assets from IL&FS Energy Development Co, a unit of Infrastructure Leasing & Financial Services, and has approached investment bankers to advise on a possible deal.

* GAMMON INFRASTRUCTURE PROJECTS: CANARA BANK has invoked 104.02 mln shares or 51% of the company's shareholding in subsidiary Rajahmundry Godavari Bridge, pledged by the company through Canara Bank Securities.

* GHCL: The company's spinning unit at Manapparai and also salt works at Vedaranium in Tamil
Nadu have been impacted by cyclone Gaja.

* GOLDIAM INTERNATIONAL: The board has approved buying back 1.98 mln shares at 90 rupees apiece, for an aggregate amount of 178.20 mln rupees.

* GVK POWER & INFRASTRUCTURE: Has received the shareholders' approval to raise up to 80 bln rupees.

* HCL INFOSYSTEMS: Has been slapped with a tax demand of 740 mln rupees by the Central Excise and Central Goods and Services Tax authorities in Noida.

* HOUSING DEVELOPMENT FINANCE CORP: Raised 40 bln rupees through bonds maturing in five years. Has disbursed over 11 bln rupees subsidy to over 51,000 customers under the government's flagship scheme Pradhan Mantri Awas Yojan.

* IL&FS TRANSPORTATION NETWORKS: Which is looking to pare debt, may not be left with any of its 28 road projects.

* INDUSIND BANK: Has hiked its marginal cost of funds-based lending rates by 5 basis points across tenures, effective Saturday.

* INFOSYS: Has completed the formation of a joint venture with global investment firm Temasek
Holdings. Has commenced construction work on its US education center in Indianapolis, with an initial investment of $35 mln.

* ITC: Instant noodle brand Sunfeast Yippee has launched a new 'My' range with four variantsMy Crazy Chow, My Madly Manchurian, My Mystery Masala and My Truly Chickentargeted at young consumers.

* JAYPEE INFRATECH: The committee of creditors to the company will meet on Tuesday.

* JET AIRWAYS INDIA: Tata Sons has only held preliminary talks to buy stake in the company, and no proposal has been made for the same. Hundreds of passengers were left stranded at the city airport after the airline cancelled 10 domestic flights from Mumbai on Sunday.

* JSW STEEL: Plans to pump in over 50 bln rupees to strengthen its downstream manufacturing capacity and is also keen on pursuing stressed downstream assets that will come up for bidding in the next round.

* MINDTREE: Northern Multi-Manager Emerging Markets Equity Fund has bought 1.69 mln shares or 1.03% stake in the company at 840.01 rupees apiece in a bulk deal on the BSE.

* NLC INDIA: Ministry of Coal has approved re-appointment of Azad Singh Toor and K. Madhavan Nair as independent directors on the board of the company for a period of one year, effective Saturday.

* NMDC: The Karnataka government has warned the company that it will cancel the lease of its Donimalai iron ore mine if the state-owned miner refuses to pay an additional levy on the sale of its ore.

* NTPC: Has invited expressions of interest for construction of fly ash-based geopolymer concrete roads at its plants to demonstrate the use of this technology, a company official said.

* OIL & NATURAL GAS CORP: Is looking at production enhancement contracts and enhanced oil recovery methods to boost oil and gas output from old and matured fields that are faced with natural decline, Chairman Shashi Shanker said.

* ORIENTAL BANK OF COMMERCE: The board of the bank on Friday approved raising up to 2.50 bln rupees by issuing up to 50 mln shares under the employee share purchase scheme.

* PIRAMAL ENTERPRISES: The board has approved allotment of 5,000 secured redeemable nonconvertible debentures, aggregating to 5 bln rupees.

* POWER GRID CORP OF INDIA: Has sought shareholder approval to increase the limit of foreign portfolio investors' shareholding to 35% from 30%.

* PUNJAB & SIND BANK: Has kept its marginal cost of funds-based lending rates unchanged across tenures for November, effective Friday.

* QUESS CORP: Has completed the acquisition of 70% stake in Quess East Bengal FC.

* RAYMOND: The company's 20-acre land parcel in Thane, the Satelite township of Mumbai, has drawn buying interest from Canada Pension Plan Investment Board, Xander Group, PHOENIX MILLS, PRESTIGE ESTATES PROJECTS, the Ashwin Sheth Group and Puravankara Projects.

* REC: Plans to raise at least 5 bln rupees through bonds maturing in three years and four months and has invited bids for the same on Tuesday.

* RUCHI SOYA INDUSTRIES: Has received approval from the Registrar of Companies for extension of time to hold annual shareholders' meeting for 2017-18 (Apr-Mar).

* RURAL ELECTRIFICATION CORP: The finance ministry proposes to mop up 140 bln rupees through an acquisition deal between POWER FINANCE CORPORATION and the company, but the power ministry is concerned that the move will hurt two sound Navratnas in the otherwise ailing sector.

* SEAMEC: Has entered into a charter party agreement with Aqua Omega Services for charter hire of vessel "Seamec Princess".

* SREI INFRASTRUCTURE FINANCE: Has appointed Rakesh Bhutoria as chief executive officer, effective Friday.

* SRF: The company's technical textiles business in Viralimalai, Tamil Nadu, has been damaged by cyclone Gaja on Friday.

* SYNDICATE BANK: Has set the issue price for the allotment of shares to the government at 39.63 rupees per share.

* TATA CONSULTANCY SERVICES: Is looking at scaling up to $100-mln clients in engineering research and design outsourcing as deal sizes and durations in the space continue to grow, a senior executive said.

* TATA INVESTMENT CORP: Board has approved buying back up to 4.5 mln shares at 1,000 rupees per share.

* UNIPLY INDUSTRIES: The board has decided to defer the scheme of amalgamation with a subsidiary for a period of 12 months.

* VISHAL FABRICS: LTS Investment Fund on Friday sold 220,000 shares or 0.50% stake in the company at 409 rupees a share in a bulk deal on the BSE.

* VODAFONE IDEA: Has said that reports of BHARTI INFRATEL buying its fibre assets are incorrect.

* YES BANK: A search panel entrusted with finding Rana Kapoor's successor to lead the bank has short-listed multiple names, including those serving a foreign bank as well as domestic lenders.

* ZEE ENTERTAINMENT ENTERPRISES: May hive off its over-the-top entertainment streaming channel, Zee5, into a subsidiary, in which the company may offer up to a 20% direct stake to a global strategic investor.