Today's Stock View – 11.01.2019
Today's Stock View – 11.01.2019
* ARVIND LTD: Arvind Fashions, the recently created entity after the demerger from the company,
is looking tp double its revenue to 80 bln rupees in the next five years.
* BHARTI AIRTEL: Has begun the process of paying Aircel, bringing relief to the bankrupt telco that needs money to maintain assets and pay 3,000 employees.
* CONTAINER CORP OF INDIA: Is looking at an annual turnover of 250 bln rupees in the next five
years, Union Minister Piyush Goyal said.
* DENA BANK: Board will meet on Tuesday to consider raising capital via issuance of shares to
employees and wholetime directors under Employee Stock Purchase Scheme.
* EICHER MOTORS: Royal Enfield, the two-wheeler arm of the company, is likely to go slow on
* EVEREADY INDUSTRIES INDIA: The B.M. Khaitan-led Williamson Magor is selling the company, triggering an auction process for one of the country's oldest consumer brands.
* HIMACHAL FUTURISTIC COMMUNICATIONS: Received orders worth 5.03 bln rupees.
* INDIABULLS HOUSING FINANCE: Plans to raise 7 bln rupees through bonds maturing on Jan 15, 2029, and has invited bids on Monday.
* INDIAN HUME PIPE CO: Received an order worth 1.99 bln rupees from the Andhra Pradesh
Drinking Water Supply Corp for projects in Vizianagaram district.
* JET AIRWAYS INDIA: Has proposed to creditors that it would catch up with debt payments in
arrears by September, and from April it would meet debt payments as they come due. Is weighing a resumption of stake-sale talks with the Tata Group as the carrier is poised to run out of cash.
* JSW STEEL: The National Company Law Appellate Tribunal issued notice to AION-JSW Steel
consortium, and asked it to consider IFCI's 1.58-bln-rupee claims in MONNET ISPAT & ENERGY
* LAKSHMI VILAS BANK: The bank's 20-bln-rupee capital raising plan has hit a rough patch as
potential investors balk at putting money at this stage when the bank may need to make higher provisions for loan losses.
* LINDE INDIA: The company's offer for delisting of shares will open for bidding on Jan 15 and
close on Jan 21.
* METALYST FORGINGS: US-based Deccan Value Investors has roped in former TATA MOTORS
managing director Prakash Telang to support the plea to withdraw its 1,600 rupees offer to take the
company out of bankruptcy.
* NATIONAL ALUMINIUM CO: Has cut prices of aluminium alloy ingots and sow ingots by more than 3% with effect from Wednesday.
* NBCC (INDIA): Secured total orders worth 1.88 bln rupees in December.
* OIL & NATURAL GAS CORP: The company owned ONGC Petro Additions won a major international arbitration case against South Korea's Daelim Industrial Co for abandoning a high-stakes project. Commercial production from the company's Ratna and R-series oilfield could be delayed with the state-run unit still awaiting various approvals as it mulls over infrastructure-related issues.
* PIRAMAL ENTERPRISES: Has raised about 50 bln rupees in bond sales in the past one month,
allaying concerns of liquidity constraints in the non-banking finance industry.
* PRAJ INDUSTRIES: Is on track to execute three bio-refinery projects based on their proprietary
second-generation bio refinery technology for oil marketing companies.
* RATTANINDIA POWER: The Aditya Birla group's asset reconstruction company is set to make a
formal bid for the company.
* RBL BANK: Rama Bijapurkar has resigned as independent director with effect from Thursday.
* RELIANCE INDUSTRIES: Plans to shut down two units of its refinery in Jamnagar, Gujarat, for
about four weeks for routine maintenance work.
* TATA CONSULTANCY SERVICES: Appointed Daniel Callahan as independent director for 5 years.
* TATA MOTORS: Subsidiary Jaguar Land Rover's global sales fell by 5% to 592,708 units in 2018,
weighed down by challenging market conditions in China. Subsidiary Jaguar Land Rover said it will cut 4,500 jobs globally.
* UNITED SPIRITS: Grover Zampa Vineyards is set to buy the wine assets of the company and
HINDUSTAN CONSTRUCTION CO for 670 mln rupees to bolster its sales in Asia's third-largest
* VEDANTA: Reduced crude oil supplies to INDIAN OIL CORP for about three months until October even as the two negotiated oil rates for the year, and restored it to the officially-allocated level only after the government intervened.
* WIPRO: The aerospace business of Wipro Infrastructure Engineering, controlled by promoters of
the company, has commenced shipments of part supplies to Boeing from its plant in Bengaluru in
* YES BANK: Rajesh Sud, shortlisted by the bank board's to succeed Rana Kapoor as the next chief
executive, has pulled out of the race for the top job, leaving insider Rajat Monga as the sole
recommendation for the regulator to approve.
Posted by REKHA P.A