Today's Stock View – 04.01.2019
Today's Stock View – 04.01.2019
* ADHUNIK METALIKS: Liberty House on Thursday told the National Company Law Tribunal that the group has funds ready to complete the acquisition of the company under the corporate insolvency resolution process.
* BHARTI AIRTEL: Bounced back with net additions of 101,534 users to its network in November. A group of some 300 Aircel and Dishnet Wireless employees have filed a contempt petition in the Supreme Court against the company and its unit Bharti Hexacom for their failure to ensure the return of bank guarantees worth 4.53 bln rupees.
* CESC: Has got a franchise from Maharashtra State Electricity Distribution Co Ltd for distribution of electricity in Malegaon Municipal area.
* FUTURE ENTERPRISES: Raised 7.5 bln rupees through the issuances of bonds maturing in three and six years.
* GUJARAT AMBUJA EXPORTS: Delta Global Resources has filed a plea in National Company Law Tribunal alleging dues worth 11.7 mln rupees, including interest. The company had also filed civil suit against Delta Global Resources regarding the pre-existing commercial dispute for recovery of amount as per the company's books of accounts.
* HOUSING DEVELOPMENT FINANCE CORP: Sold loans worth 69.59 bln rupees in the three months ended December, compared with none in the year-ago period. Loans sold in the entire 2018 were at 227.32 bln rupees as against 120.78 bln rupees a year ago.
- Income from dividend in Oct-Dec was just 20 mln rupees, significantly lower than 1.51 bln rupees a year ago, which included 1.41 bln rupees as dividend from HDFC STANDARD LIFE INSURANCE CO.
* JAGRAN PRAKASHAN: The board has approved raising up to 3 bln rupees through the issue of nonconvertible debentures.
* JET AIRWAYS INDIA: Which defaulted on loan repayments in December, has proposed to its banks that revenue from ticket sales be securitised against outstanding debt. Lenders to the company will finalise their decision on recasting loans, of over 80 bln rupees, and providing fresh financial support in three weeks.
* JK TYRE & INDUSTRIES: Is aiming to grab a larger pie of the growing personal vehicle space and has set itself a target of doubling its market share in the passenger vehicle space to 20% and 15% in the two-wheeler tyre segment, which it has recently entered.
* MAHINDRA LIFESPACE DEVELOPERS: Wholly-owned subsidiary Deep Mangal Developers and Maharashtra government have signed an agreement to develop a tourist destination at Murud in the state's Raigad district.
* NHPC: Losses due to shutdown at 520-MW capacity Parbati-III power station in Himachal Pradesh were at 301.4 mln rupees.
* POWER GRID CORP OF INDIA: Board has approved investment of 3.79 bln rupees in two projects. Powergrid Jabalpur Transmission, a wholly-owned subsidiary of the company, has successfully commissioned the Vindhyachal Pooling Station-Jabalpur Pooling Station 765 kV double circuit transmission line.
* RELIANCE COMMUNICATIONS: The Supreme Court has said it will hear on Monday the company's case against the Department of Telecommunications for not issuing a no-objection certificate to sale of spectrum by the company.
- Ericsson filed its second contempt petition in the Supreme Court against the company's chairman Anil Ambani, asking that he be detained in civil prison and be barred from travelling overseas unless he ensures payment of 5.50 bln rupees owed to the Swedish company.
* SHRIRAM TRANSPORT FINANCE CO: Plans to raise up to 7 bln rupees through non-convertible
* SUN PHARMACEUTICAL INDUSTRIES: Subsidiary Sun Pharma Global FZE has completed acquisition of Japan-based Pola Pharma Inc for $1 mln.
* TORRENT POWER: Has got a franchise from Maharashtra State Electricity Distribution Co Ltd for distribution of electricity in Shil, Mumbra, and Kalwa sub-divisions of Thane for 20 years.
* VASCON ENGINEERS: Has sold two land parcels for 496 mln rupees.
* VODAFONE IDEA: Net lost 6.5 mln users in November, taking its subscriber base down to 421.08 mln.
* YES BANK: Has sold its entire holding in Valecha Investments and Valecha Engineering.
Posted by REKHA P.A