Today's Sector News - 29.11.2019: 09.00 Am

Today's Sector News - 29.11.2019: 09.00 Am
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* AUTOMOBILE: The Ministry of Road Transport and Highways has deferred a proposal to exempt
battery-operated electric vehicles from registration fees, Minister for Road Transport and Highways Nitin Gadkari said.

* AVIATION: The board of Airports Authority of India has recommended that the airports operated by it at Amritsar, Varanasi, Bhubaneswar, Indore, Raipur, and Tiruchirappalli be leased out to private players for operation, management and development under the public-private partnership model, Minister for Civil Aviation Hardeep Singh Puri said.

* BANKING: Units of debt exchange traded funds will be considered eligible securities for repurchase transactions, the Reserve Bank of India said in a notification.

* ENERGY:  Asian Development Bank has signed a $451-mln loan agreement with the Indian government to strengthen power connectivity between the southern and northern parts of the Chennai–Kanyakumari Industrial Corridor.

* FINANCE: Aditya BiToday's Sector News - 29.11.2019: 09.00 Am
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* AUTOMOBILE: The Ministry of Road Transport and Highways has deferred a proposal to exempt
battery-operated electric vehicles from registration fees, Minister for Road Transport and Highways Nitin Gadkari said.

* AVIATION: The board of Airports Authority of India has recommended that the airports operated by it at Amritsar, Varanasi, Bhubaneswar, Indore, Raipur, and Tiruchirappalli be leased out to private players for operation, management and development under the public-private partnership model, Minister for Civil Aviation Hardeep Singh Puri said.

* BANKING: Units of debt exchange traded funds will be considered eligible securities for repurchase transactions, the Reserve Bank of India said in a notification.

* ENERGY:  Asian Development Bank has signed a $451-mln loan agreement with the Indian government to strengthen power connectivity between the southern and northern parts of the Chennai–Kanyakumari Industrial Corridor.

* FINANCE: Aditya Birla Finance has become the first entity to list its commercial papers on the National Stock Exchange and BSE platforms.

* REGULATORY: The Securities and Exchange Board of India has, with immediate effect, has allowed clearing corporations to invest in overnight funds, subject to certain conditions.

* STEEL: Lenders to Essar Steel may get more than 420 bln rupees from the resolution process. Lenders and ArcelorMittal have mutually agreed to appoint Grant Thorton for an audit of Essar's earnings before interest, tax, depreciation, and amortisation, which will flow to the lenders.

* SUGAR: Millers in Uttar Pradesh have asked the state government to do away with the reservation quota of molasses for manufacturers of country-made liquor in the state, as this is against the interests of farmers.

* TELECOMMUNICATION: Around 78,000 employees of embattled state-owned telecom player Bharat Sanchar Nigam had opted for voluntary retirement scheme as of Nov 23, Junior Telecom Minister Sanjay Dhotre informed the Rajya Sabha.
- The government has said it does not have any information which suggests that any entity under its
control was involved in the WhatsApp data breach, using 'Pegasus' spyware.
- SBI Caps has finalised a detailed evaluation of the bids of the four companies that have offered to
buy Anil Ambani's telecom business.

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Register For Free Equity Tips Trial: http://rupeedesk.in/rupeedeskfree-calls rla Finance has become the first entity to list its commercial papers on the National Stock Exchange and BSE platforms.

* REGULATORY: The Securities and Exchange Board of India has, with immediate effect, has allowed clearing corporations to invest in overnight funds, subject to certain conditions.

* STEEL: Lenders to Essar Steel may get more than 420 bln rupees from the resolution process. Lenders and ArcelorMittal have mutually agreed to appoint Grant Thorton for an audit of Essar's earnings before interest, tax, depreciation, and amortisation, which will flow to the lenders.

* SUGAR: Millers in Uttar Pradesh have asked the state government to do away with the reservation quota of molasses for manufacturers of country-made liquor in the state, as this is against the interests of farmers.

* TELECOMMUNICATION: Around 78,000 employees of embattled state-owned telecom player Bharat Sanchar Nigam had opted for voluntary retirement scheme as of Nov 23, Junior Telecom Minister Sanjay Dhotre informed the Rajya Sabha.
- The government has said it does not have any information which suggests that any entity under its
control was involved in the WhatsApp data breach, using 'Pegasus' spyware.
- SBI Caps has finalised a detailed evaluation of the bids of the four companies that have offered to
buy Anil Ambani's telecom business.

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Nifty-Sensex-Pre Market View - 29.11.2019: 09.00 Am

Nifty-Sensex-Pre Market View  - 29.11.2019: 09.00 Am
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Pre-Session: Sensex, Nifty likely to open in red on Friday
29/11/2019 08:41
Indian benchmarks are expected to start the day on a negative note today and Investors will track global cues, macro data, and stock-specific action for market direction. Apart from that, market participants will also await the Gross Domestic Product (GDP) data for the September quarter, slated to be released later in the day, to get a clearer picture of the state of the economy.

Meanwhile, Asian shares ticked up on Friday, but the gains were capped as investors worried that US President Donald Trump signing into law a bill backing protesters in Hong Kong could fuel tensions with China. MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.05% in early Friday trade while Japan's Nikkei gained 0.27%.

On Thursday, the 30-share benchmark index ended at 41130.17 up by 109.56 points or by 0.27% and then NSE Nifty was at 12151.15 up by 50.45 points.


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Today's Stock News - 28.11.2019: 09.00 Am

Today's Stock News - 28.11.2019: 09.00 Am
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* ASHOK LEYLAND: Signed a two-year memorandum of understanding with AXIS BANK to offer
customised financial solutions to customers across India.

* AUTOLINE INDUSTRIES: The company has entered an agreement with Pune-based Kinetic Green Energy and Power Solutions for joint development and marketing of electric bicycles.

* BAJAJ ELETRICALS: HDFC Mutual Fund on Tuesday acquired 2.06 mln shares or 2% stake in the company through the open market.

* BHARTI AIRTEL: Has appealed to the Supreme Court to allow the company and the government to agree on the quantum of adjusted gross revenue-based dues that need to be paid and the timeline for the payments.

* BSE LTD: The board of the company has approved sale of 4,180,000 shares amounting to 4% stake in CENTRAL DEPOSITORY SERVICES (INDIA) via offer for sale.

* CEAT: Has signed an agreement to buy 26% stake in Greenzest Solar.

* CIPLA: The company's subsidiary Cipla (EU), holding 60% stake in Cipla Pharma Lanka, will acquire the remaining 40% stake in its Sri Lankan subsidiary from Citi Health Imports for 400,000 Sri Lankan rupees (around 157,899 rupees).

* CG POWER AND INDUSTRIAL SOLUTIONS: Lenders to the company have appointed Belgiumheadquartered auditing firm BDO to track the daily fund flows of the company and the transactions made by its management, sources said.

* ELDECO HOUSING AND INDUSTRIES: The company has entered into a share purchase agreement to acquire 17% of the total equity capital of Omni Farms.

* HINDUSTHAN URBAN INFRASTRUCTURE: The board has approved acquisition of the chemical business undertaking by the material subsidiary Hindusthan Speciality Chemicals from Hindusthan Engineering & Industries on a going concern basis.

* ICICI BANK: Is likely to file a consent plea to settle a case with SEBI on the alleged violation of listing disclosure norms involving its former chief executive officer and managing director Chanda Kochhar and Videocon group.

* IIFL SECURITIES: Hong Kong-based WF Asian Reconnaissance Fund has sold its entire 2.98% stake or 9.5 mln shares of the company at 24 rupees apiece through a bulk deal on the BSE.

* INDIAN OVERSEAS BANK: The Reserve Bank of India has imposed a penalty of 330,000 rupees on the bank. Bhuwan Chandra will take charge as the company's chief financial officer from Sunday.

* JET AIRWAYS (INDIA): The committee of creditors passed a resolution to extend the last date of
submission of resolution plan to Dec 16.

* LEMON TREE HOTELS: RJ Corp sold 11 mln shares or 1.4% stake in the company at 60.01 rupees per share through a bulk deal on the BSE.

* MAHANAGAR TELEPHONE NIGAM: The government has decided to allot fourth generation spectrum to state-owned Bharat Sanchar Nigam and the company at administered prices, in line with prices discovered in the 2016 spectrum auction, after taking legal opinion and "considering all aspects", said Telecom Minister Ravi Shankar Prasad.

* MAHINDRA & MAHINDRA: Has charted out an aggressive product launch plan of a dozen models in the coming three-four years, as it seeks to arrest the slide in its share in an intensely competitive utility vehicle market.

* PVR: Has tied up with global movie streaming service Mubi, to be a part of the growth in the Indian overthe- top market. The partnership will allow Mubi subscribers in India get a free ticket to watch a movie releasing at PVR cinemas every week.

* RBL BANK: The board will meet on Saturday to consider raising funds through issue of shares on a preferential basis.

* RELIANCE INDUSTRIES: Has invested 100,000 rupees in wholly-owned subsidiary Jio Platforms.

* RELIANCE INFRASTRUCTURE: KBC Equity Fund has sold 0.9% stake or 2.2 mln shares in the
company at 27.86 rupees per share through a bulk deal on the National Stock Exchange.

* SHIVA CEMENT: The board has approved expansion plan for setting up of 3,000 tn per day clinker unit along with 1 mtpa grinding unit.

* TATA COMMUNICATIONS: Has received order from Kacific Broadband Satellites Group for digital services.

* TATA MOTORS: Rolled out the first unit of its hatchback Altroz on Wednesday, scheduled for
commercial launch in January, from the Pune plant. Is working on a voluntary retirement scheme for more than 1,600 people.

* TILAKNAGAR INDUSTRIES: The company will pay 1.02 bln rupees as one-time settlement of the total 2.87 bln rupees to STATE BANK OF INDIA as the loan account of the company had been classified as nonperforming asset by the bank.

* TVS MOTOR CO: Launched Bharat Stage-VI emission norm-compliant Jupiter Classic scooter at an exshowroom price of 67,911 rupees.

* ZEE ENTERTAINMENT ENTERPRISES: Subodh Kumar and Neharika Vohra, who resigned as the company's directors on Monday, said they had done so because of inaction by the company's management on several issues they raised.

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Today's Sector News - 28.11.2019: 09.00 Am

Today's Sector News - 28.11.2019: 09.00 Am
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* AUTOMOBILE: Energy Efficiency Services, under the Ministry of Power, has signed a Memorandum of Understanding with South Delhi Municipal Corp, to establish 75 charging infrastructure for electric vehicles.

* CEMENT: JSW Cement plans to raise its production capacity to 25 mln tn by 2023, for which it plans to spend 28.75 bln rupees. The company plans to reach a capacity of 20 mln tn by 2021 and only then go for a public issue, Parth Jindal, managing director, said.

* ECONOMY: Finance Minister Nirmala Sitharaman said she has not ruled out more measures to revive the economy. Sitharaman has blamed the lag effect of twin balance sheet problem of 2014-15 for the slowdown in the GDP growth in the past two years.

* ENERGY: The Asian Development Bank has approved a loan of $250 mln as part of an assistance
package to Energy Efficiency Services to expand energy efficiency investments in India.

* INFORMATION TECHNOLOGY: The government is preparing a national-level framework to use
blockchain technology, Minister of State for Electronics and IT Sanjay Dhotre said in the Lok Sabha.

* REGULATORY: The Securities and Exchange Board of India has issued guidelines for the preferential issue and institutional placement of units by listed real estate investment trusts and infrastructure investment trusts.

* TELECOMMUNICATION: The Telecom Regulatory Authority of India has floated a consultation paper seeking views on increasing transparency in tariff offerings by telecom service providers to consumers, particularly the contours of publishing the tariffs on various public portals.
Fifth generation mobile services are likely to comprise 11% of all mobile subscriptions in India by 2025, according to telecom equipment maker Ericsson. 5G is expected to be operational in India by 2022. The spectrum proposed for upcoming auction is enough to start fifth generation services in the country, Telecom Minister Ravi Shankar Prasad said.

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Nifty-Sensex-Pre Market View - 28.11.2019: 09.00 Am

Nifty-Sensex-Pre Market View  - 28.11.2019: 09.00 Am
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Pre-Session: Sensex, Nifty likely to open in red on Thursday
28/11/2019 08:39
Indian benchmarks are expected to start the day on a negative note today due to the expiry of the November series of Futures and Options contracts. Apart from that, market participants will track global cues, stock-specific action, the rupee's trajectory, and foreign fund flow for market direction.

Meanwhile, Asian share markets wobbled on Thursday as concerns that tensions over Hong Kong could stymie a US-China trade deal cast a pall over Thanksgiving cheer from unexpectedly positive US economic data. MSCI's broadest index of Asia-Pacific shares outside Japan was little changed in early trade, while Japan's Nikkei flitted in and out of positive territory.

On Wednesday, the 30-share benchmark index ended at 41020.61 up by 199.31 points or by 0.49% and then NSE Nifty was at 12100.7 up by 63 points.


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Today's Stock News - 27.11.2019: 09.00 Am

Today's Stock News - 27.11.2019: 09.00 Am
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* ALLCARGO LOGISTICS: Today's board meeting to consider raising up to 1.95 bln rupees through nonconvertible debentures has been cancelled due to unavailability of directors.

* BHARAT PETROLEUM CORP: Moody's Investors Service has placed the company's "Baa2" issuer and senior unsecured ratings on review for downgrade after the government decided to sell its entire stake of 
53.29%, and transfer the management control to a strategic buyer.

* BHARTI AIRTEL: Bharat Sanchar Nigam has sought the telecom department's intervention after the company allegedly threatened to disconnect the state-run telco's customers if it does not treat the company and TATA TELESERVICES MAHARASHTRA's consumer mobility business as a merged entity.

* CARE RATINGS: Ishares Core Emerging Markets Mauritius Co has sold 235,520 or 0.8% stake in the company at 450.74 rupees apiece via a bulk deal on National Stock Exchange.

* CG POWER AND INDUSTRIAL SOLUTIONS: SEBI has asked the company to provide its ousted chairman Gautam Thapar and others information they had sought on audit findings of financial irregularities in the company during their tenure.

* COFFEE DAY ENTERPRISES: Even as 24 suitors have gone ahead and signed a non-disclosure
agreement with the company to pick up a majority stake in Coffee Day Global, which runs the Cafe Coffee Day chain, the founder-family and the management are likely to delay the sale.

* COLGATE PALMOLIVE (INDIA): Integrated Core Strategies (Asia) sold 0.6% stake or 1.5 mln shares in the company at 1,493.72 rupees per share via bulk deal on the National Stock Exchange.

* CONTAINER CORP OF INDIA: The company signed a settlement agreement with Jalandhar-based Kohinoor India on Wednesday and paid 918,933 rupees to the latter in the final settlement.

* FORTIS HEALTHCARE: The company's board has appointed Sim Heng Joo Joe as an additional
director.

* GLENMARK PHARMACEUTICALS: Integrated Core Strategies (Asia) has bought 3.4 mln shares or 1.2% stake in the company at 341.56 rupees per share through a bulk deal on National Stock Exchange.

* GOA CARBON: The company has temporarily shut operations at its Bilaspur unit in Chhattisgarh from Tuesday for maintenance work.

* ICICI BANK: Integrated Core Strategies (Asia) has sold 48.09 mln shares or 1% stake in the bank at 510.10 rupees apiece through a bulk deal on the National Stock Exchange.

* INDIABULLS HOUSING FINANCE: Blackrock Fund Advisors A/c Ishares India Index Mauritius
Company sold 0.7% stake, or 3 mln shares, in the company at 259.05 rupees per share through a bulk deal on the National Stock Exchange.

* INFO EDGE (INDIA): Morgan Stanley Mauritius Co sold 782,299 shares, or 0.6% stake, in the company at 2,631.70 rupees per share through a bulk deal on the National Stock Exchange.

* INFOSYS: The company has launched Cyber Next platform-based offerings in partnership with
Microsoft.

* INTERGLOBE AVIATION: Indigo, which recently announced induction of 300 Airbus A320neos, could see some slowdown in capacity addition in the near term as a result of the directive from the Directorate General of Civil Aviation.

* L&T FINANCE HOLDINGS: The committee of directors will meet on Friday to approve raising up to 600 mln rupees through cumulative compulsorily redeemable non-convertible preference shares on a private placement basis.

* MANAPPURAM FINANCE: International credit rating agencies Fitch Ratings and S&P have assigned '(EXP) BB-' rating to the company's proposed dollar-denominated senior notes.

* MARUTI SUZUKI INDIA: Has said its popular entry level small car Alto has crossed 3.8 mln sales milestone.

* MINDTREE: Cofounder Rostow Ravanan plans to start a Software as a Service company, also known as SaaS, that will focus on the healthcare and manufacturing sectors.

* OIL & NATURAL GAS CORP: Has been granted a one-year exemption from mandatory local sourcing of certain grades of seamless line pipes.

* RELIANCE COMMUNICATIONS: The Department of Telecommunications has veered around to the view that Reliance Jio Infocomm needs to shoulder some of the company's over 211.4 bln rupees adjusted gross revenues-based dues.

* RELIANCE INFRASTRUCTURE: Pimco Rae Fundamental Emerging Markets Fund has bought 2.34 mln shares or 0.9% stake in the company at 26.96 rupees via bulk deal on National Stock Exchange.

* SBI LIFE INSURANCE CO: Goldman Sachs Investments Mauritius I sold 0.5% stake or 5.3 mln shares of the company at 959.7 rupees per share via bulk deal on the National Stock Exchange.

* SUZLON ENERGY: May head to National Company Law Tribunal as lenders see no possibility of
resolution.

* TATA COMMUNICATIONS: The company has appointed Amur Swaminathan Lakshminarayanan as managing director and chief executive officer for five years.

* TATA MOTORS: The company will launch its flagship sports utility vehichle--Tata Gravitas--in
February.

* TATA STEEL: An Indian antitrust investigation has found that units of the company, Sweden's SKF and Germany's Schaeffler colluded on the pricing of bearings, opening them up to potential fines.

* ULTRATECH CEMENT: Plans to raise 2.5 bln rupees through bonds maturing in three years.

* VODAFONE IDEA: Integrated Core Strategies (Asia) has bought 165 mln shares or 0.6% stake in the company at 6.03 rupees apiece through a bulk deal on the National Stock Exchange.

* YES BANK: Board will meet on Friday to consider raising funds by issuing equity or equity-linked
securities, through permissible modes.
- Integrated Core Strategies (Asia) bought 1.9% stake or 47 mln shares in the bank at 63.32 rupees
apiece through a bulk deal on the National Stock Exchange.
- The bank sold 1.7 mln shares, or 0.7% stake, in RELIANCE CAPITAL at 16.51 rupees per share
through a bulk deal on NSE.

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Today's Sector News - 27.11.2019: 09.00 Am

Today's Sector News - 27.11.2019: 09.00 Am
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* AUTOMOBILE: Honda Motorcycle & Scooter India has commenced operations at its Manesar plant with permanent employees joining work even as sacked contractual employees continued with their protest at the site.

* BANKING: Oman India Joint Investment Fund II has invested 840 mln rupees in Capital Small Finance Bank for 9.90% stake, said Edelweiss Financial Services, the bank's financial advisor for the transaction.
- The Reserve Bank of India has announced the revised framework on bilateral currency swap
arrangement with central banks in South Asian Association for Regional Cooperation countries, which would facilitate funding for foreign exchange liquidity requirements.

* E-COMMERCE: The Tata Group has infused 2.31 bln rupees in Tata CLiQ, so far this fiscal and has increased authorised share capital of the venture to 15 bln rupees from 11.5 bln rupees, indicating more funds will be infused into the business.

* FINANCE: Ess Kay Fincorp has raised $33 mln in equity investment from its existing private equity investors--TPG Growth, Northwest Venture Partners and Evolvence India.

* INSURANCE: Insurance Regulatory and Development Authority of India has proposed changes to the structure of motor insurance policies to bring the norms in line with global best practices.

* STEEL: The Enforcement Directorate has alleged that Bhushan Power & Steel acquired assets worth 275.59 bln rupees during a period when funds out of loans received from banks were "diverted and routed back as equity" by the company.

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Nifty-Sensex-Pre Market View - 27.11.2019: 09.00 Am

Nifty-Sensex-Pre Market View  - 27.11.2019: 09.00 Am
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Pre-Session: Sensex, Nifty likely to open flat on Wednesday
27/11/2019 08:42
Indian benchmarks may remain volatile today as investors adjust their positions ahead of the weekly and monthly (November series) expiry of the Futures and Options contracts, slated for Thursday. That apart, stock-specific development, and progress in US-China trade negotiations are expected to determine the market movement on Wednesday.

Meanwhile, Asian shares ticked higher on Wednesday as more upbeat signals from Sino-US trade talks fanned hopes of an imminent end to tariff hostilities. MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.14 per cent, Australian shares added 0.46 per cent, and Japan's Nikkei rose 0.41 per cent.

On Wall Street, the Dow Jones rose 0.2 per cent, the S&P 500 gained 0.22 per cent, and the Nasdaq Composite added 0.18 per cent during the overnight trade on Tuesday.

After ending the previous session modestly higher, the price of crude oil saw some further upside during trading on Tuesday. Crude for January delivery climbed $0.40 to $48.41 a barrel after ending Monday's trading up $0.24 at $58.01 a barrel. Whereas, the rupee appreciated 24 paise to close at Rs 71.49 per US dollar.

On Tuesday, the 30-share benchmark index ended at 40821.3 down by -67.93 points or by -0.17 % and then NSE Nifty was at 12037.7 down by -36.05 points.


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Today's Stock News - 26.11.2019: 09.00 Am

Today's Stock News - 26.11.2019: 09.00 Am
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* ADANI POWER: The Supreme Court has sought response from the finance ministry, Central Board of Excise and Customs, and others on the company's Mundra appeal seeking an exemption from customs duty levied on electricity generated and supplied from its 5,200 MW Mundra special economic zone power plant to domestic tariff area.

* ASHOK LEYLAND: Signed a memorandum of understanding with ICICI BANK to provide funding to customers across India.

* AXIS BANK: The Mumbai bench of National Company Law Tribunal has asked the bank's Chief
Executive Officer Amitabh Chaudhry and Standard Chartered Bank Chief Executive Officer Zarin Daruwala to be present in person at the tribunal for contempt of court proceedings against the two banks.

* BHARTI AIRTEL: ICRA downgraded the company's long-term rating to "AA-" from "AA", but
reaffirmed the company's short-term rating at "A1+", and said the ratings will be under watch "with negative implications".

* DEWAN HOUSING FINANCE CORP: The lenders to the company will make provisions worth 63 bln rupees for their loan exposure from the ongoing quarter onwards.
- The government has ordered a Serious Fraud Investigation Office probe into the affairs of the
company and five real estate companies, Anurag Thakur, minister of state for corporate affairs, told the Lok Sabha on Monday.

* DLF: Arm will invest around 15 bln rupees in the next two years on construction of over 3 mln sq ft office space in Gurugram, Haryana, to tap into the growing demand for commercial properties from corporates and co-working players.

* GOODYEAR INDIA: The company has decided to halt manufacturing operations at its plant in
Ballabgarh, Haryana, from Monday to Saturday, to align production in line with the market demand.

* IL&FS TRANSPORTATION NETWORKS: The company has defaulted on 22.93-mln-rupee interest payment on non-convertible debentures due on Monday.

* INTERGLOBE AVIATION: IndiGo's independent director Anupam Khanna has asked a US court to quash a subpoena or a legal summon against him for discovery of documents to be used in a separate case the airline's founder Rahul Bhatia has filed against his partner and co-founder Rakesh Gangwal.
- The aviation regulator on Monday barred IndiGo from operating Airbus A320 and A321 Neo
aircraft having turbine blades built with titanium, which is prone to damage leading to mid-air engine shut down.

* MARUTI SUZUKI INDIA: Is set to rework its blueprint for introducing new products over the next decade as the country's largest carmaker strives to maintain its dominant position in the market.

* MCLEOD RUSSEL INDIA: Taking forward their plan to formulate a resolution plan for the company outside the scope of National Company Law Tribunal, the company's lenders, led by ICICI BANK, which has the largest exposure, have appointed LSI Financial Services to undertake a techno-economic  feasibility study based on which the creditors will decide the way forward.

* MOTOR & GENERAL FINANCE: Gee Gee Holdings, the promoter of the company, has bought  0.5% stake or 97,210 shares in the company at 36 rupees a share through a bulk deal on the National Stock
Exchange.

* NCC: KBC Eco Fund bought 0.5% stake or 3.05 mln shares in the company at 61.63 rupees per share through a bulk deal on the National Stock Exchange.

* OIL & NATURAL GAS CORP: Has wound up its shale exploration programme mid-way after spending five years and hundreds of crores of rupees, concluding that India may not have enough commercially extractable shale reserves.

* PIRAMAL ENTERPRISES: On Monday said it would raise 17.5 bln rupees through an issue of
compulsorily convertible debentures, convertible into equity shares of face value of 2 rupees each, by way of preferential issue.

* RELIANCE COMMUNICATIONS: Has received bids from VFSI Holdings, BHARTI AIRTEL, and UV Asset Reconstruction Co for the company's bankruptcy plan.

* RELIGARE ENTERPRISES: Enforcement Directorate has moved the Delhi High Court, seeking the company's former promoter Malvinder Singh's custody till Thursday in a case lodged by Religare
Finvest against Singh, his brother Shivinder Singh, and others on allegations of money laundering.
- Delhi District Court on Monday dismissed company promoter Shivinder Singh and another key
accused Kavi Arora's bail applications in a money laundering case.

* TATA POWER CO: Is set to clinch the power distribution licence in the Central Odisha area, making it the third licence for the company after Delhi and Mumbai.

* YES BANK: Has sold 1.7 mln shares, or 0.7% stake, in RELIANCE CAPITAL at 16.26 rupees per share through a bulk deal on the National Stock Exchange.
- In an affidavit submitted to the Delhi High Court, the Citizens Whistle Blower Forum has stated
that the bank advanced "dubious" loans amounting to at least 56.98 bln rupees to various companies of the Indiabulls group and others owned by its founder and promoter, Sameer Gehlaut.

* ZEE ENTERTAINMENT ENTERPRISES: Essel Group Chairman Subhash Chandra has resigned as the company's chairman with immediate effect to meet Securities and Exchange Board of India's mandate that the "Chairperson of the Board shall not be related to the Managing Director or the Chief Executive Officer" of a company.
- GIC and Monetary Authority of Singapore have together acquired 28.5 mln shares or 2.97% stake
in the company through the secondary market on Nov 21.

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Today's Sector News - 26.11.2019: 09.00 Am

Today's Sector News - 26.11.2019: 09.00 Am
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* AGRICULTURE: Maharashtra Chief Minister Devendra Fadnavis has sanctioned an additional 53.8 bln rupees from the state contingency fund to provide relief to farmers affected by unseasonal rains in October and earlier this month.

* AUTOMOBILE: Volkswagen has decided to shut down production from mid-December to mid-January, which will be its second month of no production. A two-month long no-production period is unprecedented in the Indian automobile industry.

* ECONOMY: The government is planning to raise around 250 bln rupees from its asset monetisation programme, including land parcels, over the next two years.

* REAL ESTATE: The housing and urban affairs ministry has exchanged memoranda of agreement with Tamil Nadu, Madhya Pradesh, Gujarat, Tripura, and Uttar Pradesh for construction of lighthouse projects under the Global Housing Technology Challenge-India as part of the Centre's Housing for All mission.

* TELECOMMUNICATION: The Department of Telecommunications has not sent any reference to the Telecom Regulatory Authority of India on setting a floor price for tariffs charged by telecom service providers, Telecom Secretary Anshu Prakash said.
- The Digital Communications Commission will meet in the first half of December to deliberate on
the upcoming spectrum auction, which would include the fifth generation spectrum for the first time in India, Telecom Secretary Anshu Prakash said.
- The government has disbanded the committee of secretaries formed to recommend relief measures
for the telecom sector, and it is currently not considering any additional relief for telecom players on the adjusted gross revenue issue.

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