Today's Stock News – 10.04.2019

Today's Stock News – 10.04.2019 
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* AVENUE SUPERMARTS: Raised 500 mln rupees through commercial papers maturing on Jun 24.

* BHARAT FORGE: Acquired 51% stake in Eternus Performance Materials for 3.75 mln rupees.

* DELTA CORP: See its consolidated revenue rising 20-25% in 2019-20 (Apr-Mar), and operating profit margin at 38-40%.

* GUJARAT STATE FERTILIZERS & CHEMICALS: Will shut its ammonia-IV plant at Baroda unit in Gujarat for annual maintenance for a period of 50 days starting Saturday.

* H.G. INFRA ENGINEERING: Incorporated a special purpose vehicle, H.G. Rewari Ateli Highway, to execute a project for four-laning of the Rewari-Ateli Mandi section on National Highway-11 in Haryana, on a hybrid annuity mode.

* HOTEL LEELAVENTURE: The Mumbai bench of the National Company Law Tribunal has granted one month's time to the company to clear its dues in a bankruptcy case filed by JM Financial Asset Reconstruction
Co.

* IDBI BANK: The board will meet on Apr 16 to consider and approve exercising the call option on its upper tier-II bonds of 5 bln rupees.
-The bank allotted 827.59 mln shares aggregating to 50.26 bln rupees to Life Insurance Corp of India
on preferential basis on Jan 21.

* INFO EDGE INDIA: The company, through its wholly-owned subsidiary, has invested 60 mln rupees in Bizcrum Infotech through acquisition of 6 mln compulsorily convertible preference shares of 10 rupees each.

* JET AIRWAYS INDIA: Founder Naresh Goyal has told lenders seeking to rescue the carrier that he will pledge the rest of his shares to them on condition they release the promised interim loan funding of 15 bln rupees without delay.
-Its 1,100-strong domestic pilots body, the National Aviators Guild, has served a legal notice to the
airline, setting Apr 14 as the deadline for the new management to clear their salary dues.
-EA Partners I, a vehicle created in 2015 to allow Etihad to provide funds to airlines in which it owned stakes, said in a statement that the Indian carrier failed to make a payment on Mar 19 on account of "temporary liquidity constraints".

* LAKSHMI VILAS BANK: The board will meet on Friday to approve the issuance and allotment of equity shares, including by way of preferential allotment.

* MAHINDRA & MAHINDRA: Ford Motor is nearing a deal with the company to form a new joint-venture company in India, a move that will see the US automaker cease its independent operations in the country.

* NBCC (INDIA): Has sought an extension of more than two weeks from the committee of creditors
overseeing JAYPEE INFRATECH's insolvency resolution process to submit a revised bid for the company.

* OMAXE: Promoter entity Guild Builders has been restricted from further pledging of its shares in the realty firm as the National Company Law Appellate Tribunal modified the order passed by the National Company Law Tribunal in a dispute between the company's Chairman Rohtas Goel and his younger brother Sunil Goel.

* OPTO CIRCUITS INDIA: Entered into a one-time settlement agreement with YES BANK to clear the 335- mln-rupee loan, by paying 85 mln rupees as per the structured instalments, by April 2021.

* PANACEA BIOTEC: Entered into a one-time settlement agreement with a consortium of lenders to pay 65% of its outstanding debt.

* PRAJ INDUSTRIES: Signed an agreement with US-based Gevo Inc to commercialise technology for the production of isobutanol using sugary-based feedstocks, such as juice, syrup and molasses.

* PRICOL: Ashmore India Opportunities Fund- AIF has sold 1.15% stake or 1 mln shares in the company at 34.50 rupees per share through a bulk deal on the National Stock Exchange.

* RASHTRIYA CHEMICALS & FERTILIZERS: Gas turbine generators at the company's unit in Thal,
Maharashtra, will undergo maintenance for two-three months.

* SREI INFRASTRUCTURE FINANCE: The public issue of the company's non-convertible debentures was subscribed 0.17 times on the first day.

* STATE BANK OF INDIA: The bank has announced a 5 basis points cut in its marginal cost of funds based lending rate across tenors and an effective 10 bps cut in home loan rates from today.
-Has acquired retail loans worth 270 bln rupees including 100 bln rupees worth of micro-finance loans from non-banking finance entities in 2018-19.

* SUNTECK REALTY: Raised 350 mln rupees through commercial papers maturing on Jun 18, at a coupon rate of 8.95% per annum.

* TATA CONSULTANCY SERVICES: Is in advanced talks to settle discrimination suits filed by some
former employees in the US.

* TATA SPONGE IRON: Has completed the acquisition of USHA MARTIN's steel business undertaking, including captive power plants for 40.94 bln rupees, subject to further hold backs of 6.4 bln rupees for pending transfer of some assets including mines and certain land parcels.

* VODAFONE IDEA: Malaysia's Axiata Group Berhad is unlikely to participate in the company's 250-blnrupee rights issue, reducing its stake in the company from 8.1% to roughly 2.6%.
The company and BHARTI AIRTEL, have paid spectrum dues worth over 90 bln rupees to the government recently.

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