Today's Stock View – 03.01.2019
Today's Stock View – 03.01.2019
* ADANI GAS: Has raised prices of compressed natural gas and piped natural gas for residential and
industrial consumers in Ahmedabad and Vadodara by 2% with effect from Tuesday.
* ASHOKA BUILDCON: Started commercial operations at its hybrid annuity mode project on Hungund-Talikot road in Karnataka on Oct 1.
* ASHOK LEYLAND: Has acquired 27.25% additional stake in Ashley Aviation, raising its
shareholding in the firm to 76.25%.
* BANK OF BARODA: The Union Cabinet approved the scheme to merge DENA BANK and VIJAYA BANK into the bank with effect from Apr 1, 2019. For every 1,000 shares held, shareholders of DENA BANK will get 110 shares of the bank. For every 1,000 shares held in VIJAYA BANK, shareholders will get 402 shares of the bank.
* BANK OF INDIA: The board has approved a plan to raise capital through the issue of shares and
tier-I and tier-II capital bonds, at appropriate times in the future.
* BHARTI AIRTEL: Lost subscribers in October, with its user base down by 1.86 mln at 341.66 mln.
* EQUITAS HOLDINGS: Subsidiary Equitas Small Finance Bank has hiked its marginal cost of fundsbased lending rates by 5-35 basis points on overnight, one-month, six-month and 1-year tenures.
* HERO MOTOCORP: Pawan Munjal, chairman and managing director of the company, is rooting for an urgent cut in the GST on two-wheelers to 18% from 28%, saying these vehicles provide basic
mobility to the masses.
* INDIAN OIL CORP: Therehas been no discussion yet between the government and public sector
oil marketing companies on scrapping the absorption of 1-rupee-per-litre cut in retail prices of petrol
and diesel by these companies, the company's Chairman Sanjiv Singh said. IOT Infrastructure and Energy Services, a joint venture of the company and Oiltanking GmbH of Germany, is tweaking its biogas plant to manufacture bio-CNG for vehicles and has plans to set up more greenfield projects for the clean auto fuel.
* JET AIRWAYS INDIA: Lenders to the company are expected to step up pressure on the
management to recover unpaid dues and raise money through equity or sale of assets after the
airline revealed that it had defaulted for the first time in December.
* MAHANAGAR TELEPHONE NIGAM: Net-lost 8,068 subscribers during October, and had a
subscriber base of 3.49 mln as of Oct 31.
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm added 10.50 mln subscribers in
October, against 13 mln subscribers in September.
* SYNDICATE BANK: The board will meet on Monday to consider raising up to 5 bln rupees through the issue of 300 mln shares to eligible employees under the employee share purchase scheme. To improve the quantum of lending and to bring in operational efficiency, the bank has partnered with SREI Equipment Finance and Atyati Technologies.
* TATA POWER CO: Has received an approval from the Maharashtra Electricity Regulatory
Commission for extension of supplying 677 MW power to Brihanmumbai Electric Supply and
Transport Undertaking for five more years. Relief for ADANI POWER and the company may be delayed as some of the states that procure power from the firms' Mundra units are yet to arrive at a decision on tariffs.
* THE INDIAN WOOD PRODUCTS CO: The board has approved sub-division of one share of 10
rupees face value into five shares of 2 rupees each.
* VEDANTA: The Tamil Nadu government has moved the Supreme Court against the National Green Tribunal verdict that set aside the state government order to close the company's Sterlite copper plant at Tuticorin.
* VIJAYA BANK: The board has approved issuing up to 50 mln shares to employees under the
employee share purchase scheme.
* VODAFONE IDEA: Net lost 7.36 mln subscribers during October, and had a subscriber base of
427.60 mln as of Oct 31.
Posted by REKHA P.A