Today's Stock News – 06.03.2019

Today's Stock News – 06.03.2019 


* ADANI TRANSMISSION: S&P Global Ratings has placed 'BBB-' long-term issuer rating of the company on credit watch with a negative implication.

* ANDHRA BANK: Has invited bids from asset reconstruction companies for sale of 72 non-performing loan accounts worth a total of 43.93 bln rupees.

* AVENUE SUPERMARTS: Raised 500 mln rupees through the issuance of commercial papers maturing on Jun 3.

* BANK OF BARODA: Will cut its marginal cost of funds-based lending rates by 10 basis points across all tenures, with effect from Thursday. The government is likely to infuse nearly 50 bln rupees of capital in the bank ahead of the merger of VIJAYA BANK and DENA BANK into it. Reserve Bank of India imposed a penalty of 40 mln rupees for delay in complying with directions related to the SWIFT messaging software.

* BANK OF MAHARASHTRA: Reserve Bank of India imposed a penalty of 20 mln rupees for delay in complying with directions related to the SWIFT messaging software.

* BHARAT PETROLEUM CORP: Plans to raise up to 15 bln rupees through bonds maturing in five years and may seek bids this week.

* BHARTI AIRTEL: Proposed 250-bln-rupee rights issue is credit positive as it will help the company
immediately repay debts of its Indian operations and also improve liquidity.
-Telecom operators VODAFONE IDEA, the company and Reliance Jio Infocomm have paid the
government about 60 bln rupees in spectrum dues slated for Mar 3, but debt-ridden RELIANCE
COMMUNICATIONS has so far not deposited its dues of 215 mln rupees.

* BHARAT ELECTRONICS: The company and Elbit Systems of Israel have signed technology collaboration agreement for helmet mounted display system. Launched an automatic fare collection gating system called SWAGAT.

* BLUE STAR: The board has appointed Shailesh Haribhakti as chairman, effective Apr 1.

* BOROSIL GLASS WORKS: Has made an additional investment of 25 mln rupees in subsidiary Klass Pack Ltd by subscribing to a rights issue.

* CANARA BANK: Reserve Bank of India imposed a penalty of 20 mln rupees for delay in complying with directions related to the SWIFT messaging software.

* EDELWEISS FINANCIAL SERVICES: Canada's leading pension fund Caisse de dpt et placement du Qubec, popularly known as CDPQ, will invest 18 bln rupees in ECL Finance, Edelweiss Group's non-banking financial arm through compulsory convertible debenture.

* ENDURANCE TECHNOLOGIES: Promoter Anurang Jain is expected to raise nearly 12 bln rupees by selling 10.55 mln shares or 7.5% stake in the company through an offer for sale.

* FUTURE ENTERPRISES: Future Group is looking to offer micro-insurance to customers as part of its digital commerce strategy.

* GARDEN SILK MILLS: STATE BANK OF INDIA has moved the Debts Recovery Tribunal against the company to recover dues worth 2.40 bln rupees.

* HINDUSTAN COPPER: Raised prices of copper cathodes and wire rods by nearly 7% with effect from Friday.

* HOUSING DEVELOPMENT FINANCE CORP: Plans to raise at least 20 bln rupees through nonconvertible debentures maturing in one year and 126 days, at a coupon of 8.51%.

* HUHTAMAKI PPL: Examining impact of a court order in its favour on 310.7-mln-rupee provision made earlier in an income tax case.

* IDBI BANK: Deloitte Touche Tohmatsu India, on behalf of the bank, has invited expressions of interest for the sale of a 30-MW solar power project in Patan, Gujarat, owned and operated by Lanco Solar (Gujarat).

* INFOSYS: Founder N.R. Narayana Murthy said that the boards of companies must ensure that there is no governance deficit in their organisations and this should be on top of their minds while discharging their duties.

* JET AIRWAYS INDIA: Ground staff union of the company has expressed concern over removing
employees under the garb of reduced operations and delays in salary payments. Executives on Tuesday assured ground staff that the airline will resolve its current troubles in a month, a senior official of its workers' union said.

* JUBILANT LIFE SCIENCES: Wholly-owned subsidiary Jubilant Pharma Ltd has completed the issuance of rated unsecured bonds outside India.

* KARUR VYSYA BANK: Capital raising committee has approved raising non-convertible Tier II bonds worth 12 bln rupees in tranches.

* L&T INFRASTRUCTURE FINANCE CO: Has filed insolvency proceedings against Essar Power with the Ahmedabad bench of the National Company Law Tribunal for non-repayment of 455.4 mln rupees in dues.

* LARSEN & TOUBRO INFOTECH: Is likely to finalise acquiring Cafe Coffee Day founder V.G.
Siddhartha's 20.41% stake in MINDTREE, as early as this week, for a price close to 975 rupees per share, which is higher than the price offered by KKR at about 925 rupees apiece.

* LAKSHMI VILAS BANK: Board will meet on Friday to consider and approve raising funds by way of shares, through issuance of unsecured, subordinated, fully paid-up, non-convertible debentures, noncumulative, BASEL-III compliant, perpetual debt instruments in the nature of debentures for inclusion in additional Tier-I capital of the bank, on private placement basis.

* MAHINDRA & MAHINDRA: Luxury electric vehicles brand Automobili Pininfarina, a part of the
Mahindra Group, Tuesday unveiled its luxury electric vehicle Battista, which is touted to be faster than a current Formula 1 race car in its 0-100 kmph sub-two second sprint.

* MARUTI SUZUKI INDIA: Managing Director Kenichi Ayukawa expects the Indian automotive market to pick up only after general elections this year.

* NTPC: Has decided to explore "statutory remedies" relating to a 20.15-bln-rupee arbitration charge slapped on it in a fuel-supply dispute against Jindal ITF. Will revive a coal supply deal with ADANI ENTERPRISES that's been stalled for more than three years due to government pressure to cut imports of the fuel.

* ORCHID PHARMA: The company's insolvency resolution professional has invited fresh bids from potential investors to revive the Chennai-based drug-maker, setting Mar 19 as the deadline.

* PFIZER: Drug makers Baxter and Zydus Cadila have shown preliminary interest in buying out the
company's Sriperumbudur factory in a deal that could value the facility at 7-9 bln rupees.

* POWER FINANCE CORP: UBS Group AG acquired 5.02% stake in the company through the open market on Feb 22.

* QUICK HEAL TECHNOLOGIES: The board has approved a buyback of up to 6.36 mln shares at 275 rupees a share, for an aggregate amount up to 1.75 bln rupees.

* REC: Plans to raise at least 5 bln rupees through government-serviced bonds maturing in 10 years.

* RELIANCE INDUSTRIES: Reliance Jio Infocomm has sought incentives for the telecom industry to
encourage fibre deployments, a critical infrastructure for the commercial roll-out of fifth-generation networks. Two subsidiaries of Reliance Jio Infocomm plan to raise 20 bln rupees each through rights issues.

* STRIDES PHARMA SCIENCE: Has sought the approval of its shareholders for the sale of its entire
Australia business to Arrotex Holdings Pty Ltd for A$394 mln (19.7 bln rupees).

* SUN PHARMACEUTICAL INDUSTRIES: Securities and Exchange Board of India has sought an
explanation from the company on alleged fund diversion of 420 bln rupees through its key distributor and subsidiary Aditya Mediasales.

* TAKE SOLUTIONS: US-based step-down subsidiaries--Astus Technolgies Inc, TAKE Dataworks Inc and TAKE Synergies Inc--have been merged with their holding company TAKE Innovations Inc, a step-down subsidiary of the company, effective Feb 22.

* TAMIL NADU NEWSPRINT & PAPER: N. Muruganandam has replaced K. Gnanadesikan as chairman of the company.

* TATA MOTORS: Would enhance its focus on safety features to help achieve the government's objective of fewer fatalities on Indian roads.
-Unveiled four new 'ready for production' and a small sports utility vehicle concept called H2X at the
89th Geneva International Motor Show.

* TATA STEEL: A public interest litigation was moved in the Odisha High Court on Feb 25, requesting the company be stripped of its additional iron ore mining rights in the state on the grounds that it violates the provisions under the Mines and Minerals (Development and Regulation) Act, 1957.

* UNITED BREWERIES (HOLDINGS): The company on Tuesday had sought dismissal of a plea by the SBIled consortium of banks that is seeking restoration of absconding accused Vijay Mallya's properties.

* V-MART RETAIL: Opened a new store in Uttar Pradesh, taking the total number of stores in the state to 82.

* VODAFONE IDEA: Had completed consolidation of its radio network integration in rest of West Bengal by December 2018.

* ZEE MEDIA CORP: Two promoters--25FPS Media and Arm Infra and Utilities--sold a total of 3.28% stake in the company between Feb 13 and Mar 1.

 Our Blog Information Learning purpose only 
    (Paper Trading Practice for Currency, Equity, Commodity Segment)
Register For Free Equity Tips Trial: http://rupeedesk.in/rupeedeskfree-calls