Today's Stock View – 10.01.2019
Today's Stock View – 10.01.2019
* ADANI ENTERPRISES: Adani group has signed a memorandum of understanding with the Andhra Pradesh government to set up a mega data centre park in Visakhapatnam. The Adani Group has joined the race to buy a 51% stake in Coastal Energen owned by Indian lenders.
* AMTEK AUTO: The National Company Law Tribunal in Chandigarh will on Jan 23 hear the default application of lenders to the company against Liberty House, which has not met its commitments on the resolution plan.
* ASHOK LEYLAND: Received orders from Institute of Road Transport, Chennai, Uttar Pradesh State Roadways Transport Corp, and Chandigarh Transport Undertaking for 2,580 buses.
* AVENUE SUPERMARTS: The board will meet on Saturday to consider and approve raising funds through commercial papers.
* BAJAJ FINANCE: Raised 14.95 bln rupees through the issuance of non-convertible debentures maturing on Jan 8, 2026, at a coupon rate of 8.95%.
* BANK OF BARODA: Has doubled the minimum quarterly average balance that its 'Baroda Savings Account' customers maintain at the bank's metro, urban, and semi-urban branches.
* BHARTI AIRTEL: The Supreme Court has allowed Aircel employees to file a contempt case against the company, its unit Bharti Hexacom and the telecom department for not returning 4.53 bln rupees to the company as ordered by the
* BHARTI INFRATEL: The merged entity of Indus Towers and the company will not change terms of long duration tenancy pact with mobile operators, when they come up for renewal.Expects to complete its merger with Indus Towers in the first quarter of the next financial year starting April.
* COCHIN SHIPYARD: Has entered into a five-year annual maintenance contract with the coastal division of Kerala Police to undertake repairs and maintenance of 23 coastal interceptor boats across 18 coastal police stations.
* DILIP BUILDCON: Wholly-owned subsidiary DBL Anandapuram Anakapalli Highways has received financial closure for a road project in Andhra Pradesh from the National Highways Authority of India.
* GMR INFRASTRUCTURE: GMR Hyderabad Airport has announced commissioning of 26 new aircraft-parking stands, enhancing the capacity of the airport to handle aircraft by 45%.
* HINDUSTAN AERONAUTICS: Defence Minister Nirmala Sitharaman has met the top brass of the company and assured them of all required assistance to help the firm come out of the current financial crisis.
* HOUSING AND URBAN DEVELOPMENT CORP: Cumulative loan sanctions stood at 121.2 bln rupees, while loan disbursals were at 128.5 bln rupees in Apr-Dec.
* IL&FS TRANSPORTATION NETWORKS: Infrastructure Leasing & Financial Services has received 30 expressions of interest for its domestic road vertical housed under the company.
* INDIAN OIL CORP: Is "extremely confident" that it will be able to produce transportation fuels and highly valuable Omega-3 fatty acids from carbon dioxide, the company's Director (R&D), Dr S.S.V. Ramakumarthe, told.
* JET AIRWAYS INDIA: Domestic lenders of the airline, led by STATE BANK OF INDIA, are understood to have proposed a 25-bln-rupee resolution plan comprising fresh equity infusion and restructuring of the current loan at a meeting between the consortium of banks and company officials on Tuesday.
* JSW STEEL: Has slashed the prices of its Neosteel brand 500-D steel bars by over 4%, effective Tuesday.
* KIOCL: T. Saminathan, has been appointed as director-commercial of the company for a period of five years.
* LIC HOUSING FINANCE: Plans to raise at least 4.5 bln rupees through the issuance of bonds maturing on Apr 19, 2022.
* MANAPPURAM FINANCE: Asirvad Microfinance, a subsidiary of the company, has securitised a microfinance loan portfolio worth 2.5 bln rupees with a public sector bank in December.
* PFIZER: Said that the decision to shut down two of its production sites would not have any impact on its other commitments and ongoing operations in India. Has indicated to its employees that the company might look for a buyer for the Chennai and Aurangabad plants it has decided to shut because of non-viability.
* POWER GRID CORP OF INDIA: The power ministry has recommended 'Maharatna' status for the company.
* RAYMOND: Raymond Group Promoter and Chairman Gautam Hari Singhania said he will step down as chairman from all group companies and dissociate himself from day-to-day functioning to build an organisation which can run competitively and independently without the involvement of the promoter.
* RELIANCE INDUSTRIES: The company's subsidiary Reliance Jio posted a 16% sequential growth in its adjusted gross revenue for the September quarter to 82.72 bln rupees, while that of VODAFONE IDEA declined 8.5% to 75.28 bln rupees.
* TATA POWER CO: The company, Torrent, JSW ENERGY, Greenko, Sterlite Power and Statcraft are among the 15- plus applicants who have submitted their expressions of interest for IL&FS group's renewable energy assets worth 80 bln rupees — the second largest vertical after roads.
* TATA STEEL BSL: The board has approved issuance of non-convertible redeemable preference shares to TATA STEEL, on a private placement basis, for up to 120 bln rupees.
* USHA MARTIN: The Assistant Registrar of Companies under the Ministry of Corporate Affairs has issued summons to the directors and officers of the company which had sold its steel business to TATA STEEL.
* VAKRANGEE: The Ministry of Corporate Affairs has sought a response from the company on certain observations in a preliminary report post an inspection of the company's books.
* YES BANK: The board and relevant committees had finalised the names of potential candidates to succeed Rana Kapoor as managing director and chief executive officer, and would share the same with Reserve Bank of India.
Posted by REKHA P.A