Today's Stock View – 26.12.2018
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* ALLAHABAD BANK: Government has appointed K. Ramachandran as executive director of the bank.
* COAL INDIA: Has managed to command an average premium of 1.5 times the floor price for 5.99 mln tn coal booked by consumers in the non-power sector at a recent e-auction for five-year supply term.
- After obtaining a stay from the National Company Law Appellate Tribunal over the initiation of insolvency proceedings against its subsidiary--Eastern Coalfields Ltd--the company hit back at Gulf Oil Lubricants India, alleging that the latter didn't follow the grievance redress mechanism and instead took a hasty decision to move court.
* CORPORATION BANK: Government has appointed P.V. Bharathi as managing director and chief
executive officer, and B. Mishra as executive director of the bank.
* GAIL INDIA: Has started work on the Bokaro-Angul section of the Jagdishpur-Haldia and Bokaro-Dhamra pipeline project, that will be used for natural gas supply.
* HINDUSTAN UNILEVER: The National Anti-profiteering Authority said that the company benefited around 5.35 bln rupees by not passing on gains from lower goods and service tax to consumers.
* INDIAN OIL CORP: May drop its plan to acquire up to 50% stake in the Mundra LNG terminal in Gujarat.
* INTERGOLBE AVIATION: Is likely to induct its first long range jet A321neo in its fleet on Saturday, after a delay of almost a month, paving the way for the airline to launch its much-awaited medium-haul international operations.
* JSW ENERGY: Lenders to Monnet Power have rejected the lone bid from the company, citing poor terms of the offer.
* MAHINDRA & MAHINDRA: Subsidiary Classic Legends said its Jawa Motorcycles have been sold out till September on account of a massive number of online bookings.
* JAGRAN PRAKASHAN: Board will meet on Jan 3 to consider raising up to 3 bln rupees through the issue of non-convertible debentures.
* JK CEMENT: Qualified institutional placement opened on Monday and the floor price has been set at 732.42 rupees per share.
* OMAXE: Holding company Guild Builders has submitted before the National Company Law Tribunal that it will not pledge shares of the realty firm for the time being except for exigencies like margin calls.
* ORIENTAL BANK OF COMMERCE: Government has appointed Balakrishna A.S. as executive director of the bank.
* PIRAMAL ENTERPRISES: Plans to raise at least 4 bln rupees through the issuance of bonds maturing in three years and has invited bids on Thursday.
* POWER FINANCE CORP: Wholly-owned subsidiary PFC Consulting has transferred Obra-C Badaun Transmission, entity formed to operate a transmission system for a 1,320-MW thermal power project, construct a 400 kV gas-insulated substation at Badaun, and lay transmission lines, to ADANI
TRANSMISSION.
* PUNJAB NATIONAL BANK: Remuneration committee has approved the allotment of 90.2 mln shares to the employees of the bank at 53.95 rupees per share.
* RELIANCE INDUSTRIES: Arm Reliance Jio Infocomm is working with partners to bring in affordable large-screen smartphones that can cater to a large mass of customers who aspire to upgrade from feature phones to such 4G devices.
* STATE BANK OF INDIA: Has sought bids from merchant bankers to run the process for its qualified institutional placement of shares worth up to 200 bln rupees.
* STEEL AUTHORITY OF INDIA: Has supplied around 35,400 tn of steel for the construction of the Bogibeel Road-cum-Rail Bridge on the river Brahmaputra.
* SUNDARAM FINANCE: Plans to raise at least 2.35 bln rupees through the issuance of bonds maturing on Mar 25, 2022, and has invited bids on Thursday.
* TATA COFFEE: Board has appointed Chacko Purackal Thomas as the managing director and chief
executive officer of the company, effective Apr 1.
* TATA MOTORS: Said that it remains committed to UK's automotive industry, and to the long-term growth and success of subsidiary Jaguar Land Rover.
* VEDANTA: Chairman Anil Agarwal is working on plans to raise electrosteel's capacity to 7 mln tn in four years, which may require investment of up to $3 bln-$4 bln.
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