Daily Stock News Today – 01.01.2018
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* AXIS BANK: Has denied that a consortium of lenders led by the bank is looking to sell controlling stake in a GMR INFRASTRUCTURE's associate company.
* ALLAHABAD BANK: Has raised 5 bln rupees to comply with the global banking standards under Basel
III.
* BANK OF BARODA: Has failed to sell bad loans amounting 23 bln rupees due from BHUSHAN STEEL and Essar Steel.
* BANK OF INDIA: Has raised 22.57 bln rupees through capital infusion from the government.
* BANK OF MAHARASHTRA: The board of the bank will meet on Wednesday to consider raising capital by way of preferential allotment of shares to the central government.
* BALASORE ALLOYS: Has said the Enforcement Directorate's order to attach its assets worth 2.45 bln rupees is "arbitrary" and "contrary" to established principles of law.
* BGR ENERGY SYSTEMS: Has paid $12.3 mln towards invocation of a bank guarantee after a stay on the invocation was vacated.
* BHARTI AIRTEL: Has signed a content distribution deal with Amazon's Prime Video service to offer the latter's content on its Airtel TV application.
* BRITANNIA INDUSTRIES: Has started selling chocolate wafers, competing with brands such as
NESTLE INDIA's Kit Kat.
* BRIGADE ENTERPRISES: The company, through its subsidiary Brigade Infrastructure and Power, has acquired 12.95 acre of land at Yeshwanthpur in north Bengaluru for 2.18 bln rupees from SABMiller India.
* BSE: Smallcap World Fund has sold 830,532 shares or 1.5% stake in the company at 932.78 rupees a share through a bulk deal on the NSE.
* CADILA HEALTHCARE: Subsidiary Zydus Pharmaceuticals Inc has got the US Food and Drug
Administration's final approval for Valacyclovir tablets.
* CAMLIN FINE SCIENCES: Has approved the issue price of warrants to be issued on a preferential basis at 92.69 rupees apiece.
* CANARA BANK: Has called off its plan to sell stake in its asset management joint venture Canara
Robeco Asset management Co.
* CENTRAL BANK OF INDIA: Has raised 3.23 bln rupees through preferential allotment of shares to the government.
* COAL INDIA: Is set to prioritise on improving supplies to captive power producers to cater to the
needs of cement, aluminium and sponge-iron sectors.
* CRISIL: SEBI's newly-issued norms placing higher disclosure requirements for issuers of debt
securities will help in deepening of the bond market.
* DENA BANK: Has raised 2.43 bln rupees through capital infusion from the government.
* DLF: Has approved the allotment of compulsorily convertible unsecured debentures and warrants
worth 90 bln rupees to four promoter group entities on a preferential basis. Has appointed Saurabh
Chawla as the chief financial officer of the group.
* EMAMI: Executive Chairman R.S. Agarwal is considering an appeal against the SEBI's order that
imposed a fine of 800,000 rupees on him.
* ESSAR SHIPPING: Shareholders approved the proposal to increase authorised share capital to 6.50 bln rupees from 5 bln rupees at the annual general meeting.
* FERRO ALLOYS CORP: The National Company Law Tribunal on Dec 21 granted the company a 90-day extension, starting Tuesday, to complete the insolvency resolution process.
* GAIL INDIA: Has invited bids for laying 400-km gas pipeline from Dobhi, Bihar to Durgapur, West Bengal under the Jagdishpur-Haldia and Bokaro-Dhamra Natural Gas Pipeline project. The government is abandoning plans to build liquefied natural gas ships locally after the company said it no longer needed to hire some nine new sophisticated tankers for as much as 19 years.
* GALLANTT ISPAT: The company and GALLANTT METAL claimed stock exchanges have held that they are not shell companies and hence trading restrictions on their stocks will be removed from today.
* GOKUL REFOILS AND SOLVENT: Has approved the voluntary winding up of its foreign subsidiary Maurigo International-Mauritius in accordance with the Mauritius Companies Act, 2001.
* GUJARAT NRE COKE: Is likely to face liquidation process as the creditors of the company have rejected the resolution plan, submitted by Rare Asset Reconstruction.
* ICICI BANK: Has kept its marginal cost of funds-based lending rates unchanged for January.
* IDBI BANK: Has raised 27.29 bln rupees through preferential allotment of shares to the government.
* INDIABULLS HOUSING FINANCE: Has raised 5.9 bln rupees through the issuance of two nonconvertible debentures maturing in 1,288 days and 1,393 days, both at a coupon of 8%.
Has raised 10 bln rupees through issue of non-convertible debentures maturing in five years, at a
coupon of 8.12%.
* INDIAN OIL CORP: Is planning to adopt a new way of supplying cooking gas to the northeastern states by first exporting it to Bangladesh, Chairman Sanjiv Singh said.
* INFOSYS: Signed an agreement on Thursday to sell its entire stake in US-based ANSR Consulting
Holdings Inc for $1 mln.
* INDOSOLAR: The board and shareholders approved part settlement of loan due to UNION BANK OF INDIA by allocating 207 mln optionally convertible preference shares to the bank, with a face value of 10 rupees.
* IRB INVIT FUND: IA Diversified Fund has bought 5.01 mln units of the company at 92.98 rupees per unit through a bulk deal on BSE.
* LACTOSE INDIA: Has allotted 510,000 convertible warrants at an issue price of 158.10 rupees apiece on preferential basis.
* LAKSHMI VILAS BANK: Will cut its marginal cost of funds-based lending rates by 5-10 basis points.
* NLC INDIA: Joint venture NUPPL has achieved financial closure of its 1,980-MW power project by signing a loan arrangement of 110.67 bln rupees.
* NTPC: Will start commercial operations at unit 2 of Kudgi Super Thermal Project at 800 MW capacity today. Has appointed Sudhir Arya, currently the executive director (finance), as chief financial officer of the company with immediate effect.
* OIL INDIA: Has made two hydrocarbon discoveries in the Dumduma petroleum mining lease in the upper Assam Basin during Jul-Dec.
* PHOENIX MILLS: Has bought the remaining 22.67% stake in its subsidiary Graceworks Realty &
Leisure on Friday for 100 mln rupees from HBS Realtors.
* PUNJAB NATIONAL BANK: Managing Director Sunil Mehta said treasury income of banks would see some pressure in Jan-Mar due to change in methods of calculating depreciation and additional 500 bln rupees borrowing by the government.
* SHRIRAM TRANSPORT FINANCE CO: Has raised 4 bln rupees through two non-convertible
debentures.
* SHOPPERS STOP: Will sell 48.42% stake in joint venture Timezone Entertainment to Timezone West Asia for 227 mln rupees.
* SPICE MOBILITY: Arm Spice Digital will invest 125 mln rupees in Luharia Technologies to buy 0.1% compulsory convertible preference shares which when converted will represent at least 30% stake in the company.
* SRF: Has commissioned the first phase of the bi-axially oriented polypropelene film line and metalizer in a new packaging film line at its unit in Indore.
* STATE BANK OF INDIA: Whatever impact the non-performing asset problem had to have, it is largely behind us, said Chairman Rajnish Kumar.
* THYROCARE TECHNOLOGIES: Has launched FocusTB, its affordable brand focusing on tuberculosis diagnostics.
* TUBE INVESTMENTS OF INDIA: Has raised 1 bln rupees through issue of non-convertible debentures maturing in three years.
* UCO BANK: Has sought the approval from its board for capital infusion worth 13.75 bln rupees by the government.
* UNITED SPIRITS: Has raised 7.5 bln rupees through allotment of non-convertible debentures on a
private placement basis.
* VIDEOCON INDUSTRIES: The appointment of an insolvency resolution professional for the company has sparked a row among top audit companies, with Alvarez & Marsal winning the bid but some complaining that their bids were far lower.
