Today's Stock View – 07.01.2019

Today's Stock View – 07.01.2019

* AXIS BANK: Has begun the process of strengthening its top deck by bringing in YES BANK's
veteran retail banker Pralay Mondal and rejigging the portfolios of the existing staff.

* BANDHAN BANK: The bank's talks with HOUSING DEVELOPMENT FINANCE CORP to either buy into or merge with GRUH FINANCE have reached an advanced stage.
- Is set to acquire mortgage lender GRUH FINANCE via a share swap, a move aimed at cutting the
bank's promoter holding and expanding its housing finance portfolio.

* BANK OF BARODA: The strike called by All India Bank of Baroda Employees' Co-ordination
Committee and the bank's Karmachari Sena today has been cancelled.
- Received a notice from All India Bank Employees' Association and Bank Employees' Federation of
India, which says that the employees of the banks will go on strike on Tuesday and Wednesday.Has
kept its marginal cost of funds-based lending rates across tenures unchanged for January.

* BHARTI AIRTEL: The Supreme Court on Friday sought responses from the company and the
department of telecommunications on a contempt plea filed by a group of Aircel employees, who
have accused the two sides of failing to release 4.53 bln rupees to the debt-laden
telecommunication company despite an earlier order of the apex court.

* BHARAT HEAVY ELECTRICALS: Has commissioned an 800 MW thermal power unit within a record time of 46 months for Kothagudem Thermal Power Station of Telangana State Power Generation Corp.

* COAL INDIA: Has been able to spend just 30% of its capital expenditure plans for the year till
November, report submitted by the company to the coal ministry shows.

* FORCE MOTORS: Total sales in December declined nearly 12% on year to 1,697 units. Total
production in December was down nearly 3% on year at 2,578 units.

* GMR INFRASTRUCTURE: Haldia Petrochemicals signed an agreement with Andhra Pradesh to set up a 600-bln-rupee refinery and petrochemical complex at Kakinada. The proposed facility will come up on 5,000 acre land across Kakinada coast line and is being developed by GMR group as a special investment region.

* HINDALCO INDUSTRIES: Has slashed the prices of its aluminium products by 2-3% with effect
from Thursday.

* HINDUSTAN AERONAUTICS: By the end of this financial year, the Indian Air Force will soon owe the company dues of 200 bln rupees, says its Chairman, R. Madhavan, including 70 bln rupees
carried forward from last year.

* HOUSING DEVELOPMENT & INFRASTRUCTURE: The Supreme Court has ordered status quo to be maintained with respect to the 40 acre land leased to the company's arm Guruashish Construction by Maharashtra Housing and Area Development Authority and will next hear the matter on Feb 13.

* ICICI BANK: The bank and ICICI Venture Funds Management have pulled out of the race to buy
the securities and private equity businesses of Infrastructure Leasing & Financial Services due to a
likely conflict of interest as the bank's chairman G.C. Chaturvedi is also on the recast board of the
debt-laden financier.

* IDBI BANK: S&P Global Ratings affirmed its 'BB' long-term and 'B' short-term foreign currency
issuer credit ratings on the bank, and removed the ratings from credit watch, where they were
placed with negative implications on Aug 17, 2018.

* INDIAN OIL CORP: Has approached the international bond market to raise up to $1.5 bln.

* INTERGLOBE AVIATION: Airbus' most popular single-aisle jet model A320 Neo with Pratt and
Whitney engines, faces a fresh scrutiny from the government after IndiGo reported another incident
of a mid-air engine failure on Saturday.

* ITI: The Jammu Municipal Corp on Thursday signed a memorandum of understanding with the
company for implementation of a home-security solutions project in the city.

* JET AIRWAYS INDIA: Sustained low prices of crude oil would be key for any prospective investor to consider infusing equity into the beleaguered company, but debt restructuring through
refinancing of loans seems more likely for the airline to tide over the current liquidity crunch.
Managers at the airline will now get their December salary late.
- Has offered discounts of up to 50% on economy and premiere fares, on domestic and international
flights till Friday.

* JINDAL STAINLESS: Has expanded its stainless steel footprint in the kitchenware segment to cater to demand from eastern India.

* KIRLOSKAR ELECTRIC CO: Will sell its non-core asset in Bangalore to BRIGADE ENTERPRISES for 550 mln rupees.

* LUPIN: Has received approval from the US Food and Drug Administration to market lurasidone
hydrochloride tablets, a generic of Latuda tablet, in 20-mg, 40-mg, 60-mg, 80-mg, and 120-mg

* MAHINDRA & MAHINDRA FINANCIAL SERVICES: The public issue of non-convertible debentures of the company was subscribed 0.09 times on the first day, with the company receiving bids worth 3.25 bln rupees against the total issue size of up to 35 bln rupees.

* MARUTI SUZUKI INDIA: Is expected to report a second consecutive dip in quarterly profit for the Oct-Dec period of FY19 as margins remained under pressure owing to higher discounts and impact of firm commodity prices.

* NEW DELHI TELEVISION: Co-chief executive officer Saurav Banerjee has resigned, effective Jan 12.

* NHPC: Dulhasti power station in Jammu & Kashmir closed on Jan 3 and will remain shut till Jan 12 to carry out replacement works.

* NMDC: Has confirmed the prices of iron ore lumps at 2,900 rupees per tn for December, and
those of iron ore fines at 2,560 rupees per tn.

* OIL & NATURAL GAS CORP: Wholly-owned subsidiary ONGC Videsh has discovered oil in its
onshore block in Llanos Basin, Colombia.Will pump in 60 bln rupees in drilling 200 wells over the
next seven years in Assam in order to increase the output from the state.

* PARSVNATH DEVELOPERS: The Securities and Exchange Board of India will go ahead with its
interim order for forensic audit of the company and curbs imposed on trading of its shares.

* PNB HOUSING FINANCE: Has set a coupon of 9.40% on its tier-II bonds maturing in January
2029, and has accepted bids worth 247 mln rupees.

* PTC INDIA: Has initiated a formal process to find a strategic investor for its wind power business.

* PUNJAB & SIND BANK: Received a notice from All India Bank Employees' Association and 
Bank Employees' Federation of India, which says that the employees of the banks will go on strike on
Tuesday and Wednesday.

* RELIANCE COMMUNICATIONS: Accused Ericsson of "distorting issues" by trying to sensationalise its contempt petition against the telco's chairman Anil Ambani and said this would hurt its efforts to repay other creditors.

* SAGAR CEMENTS: Consolidated cement sales rose 28.3% on year to 326,272 tn in December.

* SOBHA LTD: Has posted a 7% on-year decline in total sales to 6.99 bln rupees in Oct-Dec on
account of weak sales volumes in Bengaluru, its mainstay market.

* SPICEJET: Passengers on the airline's flight from Hong Kong to Delhi faced some anxious
moments on Sunday after one engine of the Boeing 737 Max plane stalled in the airspace over
Patna, forcing pilots to make an emergency landing in Varanasi.

* SUNTECK REALTY: Has issued unsecured commercial paper of 350 mln rupees at a coupon rate of 8.75% per annum, maturing on Mar 29.

* TITAN CO: Said that its flagship jewellery business saw robust sales growth in Oct-Dec on the
back of new product launches during the typically-strong festival season, and said that the company
expects jewellery business to grow by around 22% in 2018-19.

* TORRENT PHARMACEUTICALS: Has received approval from the US Food and Drug Administration to market lurasidone hydrochloride tablets, a generic of Latuda tablet, in 20-mg, 40-mg, 80-mg, and 120-mg strengths.

* ULTRATECH CEMENT: Rajputana Properties, a group company of DALMIA BHARAT, has
approached the Supreme Court, seeking review of the apex court's judgment, which had dismissed
its plea challenging the National Company Law Appellate Tribunal's order allowing the company to
acquire the bankrupt Binani Cement.

* UPL: Global private equity funds KKR & Co and Blackstone Group, GODREJ AGROVET and the
company, have put in independent bids to acquire a controlling 57.7% stake in agrochemicals maker
Gharda Chemicals.

* VODAFONE IDEA: A bench led by Justice U.U. Lalit has issued a notice to the revenue authorities on the company's appeal against the Delhi High Court's order in June last year that said the installation of cell site towers in existing telecom circles amounted to 'extension of existing business' of providing telecom service as stipulated in proviso to Section 36(1)(iii) of the Income Tax Act, 1961, thus warranting proportionate disallowance of interest.

* YES BANK: Rajesh Sud, former managing director and chief executive officer of Max Life
Insurance, and current executive director of the bank Rajat Monga are in the race to head the
private sector lender.

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