Daily Stock News - Rupeedesk Consultancy – 02.03.2017
* COAL INDIA: Coal India Ltd's production was at 54.30 mln tn in February, lower than the target of 56.81 mln tn for the month.
* DENA BANK: Apollo Munich Health Insurance has tied up with the bank to provide health insurance products to the latter's customers.
* DLF: The company's audit panel has given its nod for entering a definitive deal to sell promoters' 40% stake in its rental assets arm--DLF Cyber City Developers Ltd--to Singapore's sovereign wealth fund GIC.
* DR LAL PATHLABS: Westbridge Crossover Fund LLC has sold 1.29 mln shares or 1.56% stake in the company at 950.27 rupees apiece in a bulk deal on the BSE.
* EICHER MOTORS: Total sales of VE Commercial Vehicles, a joint venture between the company and Volvo, rose 9.3% on year to 5,499 units in February.
* GRASIM INDUSTRIES: The company's equity shareholders, secured and unsecured creditors will hold a meeting on Apr 6 as ordered by the National Company Law Tribunal.
* HERO MOTOCORP: The company's total sales in February fell 4.8% to 524,766 units from 550,992 units a year ago.
* INDIAN OIL CORP: The company plans to come up with a 15-mln-tn refinery, with an investment of about 400 bln rupees, at Nagapattinam in Tamil Nadu.
* JAGRAN PRAKASHAN: Its arm Music Broadcast has started broadcasting from its radio station at Bikaner using frequency modulation 91.1 acquired in Phase III auctions held by the information and broadcasting ministry.
* JAIPRAKASH POWER VENTURES: Has allotted 5.39% stake in the company to IDBI BANK, as conversion of debt into equity under strategic debt restructuring.
* LUPIN: Has launched clobetasol propionate topical solution USP, 0.05%, in the US, a generic of Fougera Pharmaceuticals' Temovate scalp application.
* MAHINDRA & MAHINDRA: The company is studying the possibility of developing an electric sports car, a la Tesla. The company is considering setting up a second base overseas, said President and Chief Executive of the automotive division Pravin Shah.
* NARAYANA HRUDAYALAYA: Is conducting due diligence to buy a Gurugram-based hospital of Panacea Biotec.
* OIL AND NATURAL GAS CORP: Reports over a likely merger between the company and HINDUSTAN PETROLEUM CORP are "premature", a government official said.
* PIDILITE INDUSTRIES: Chief Financial Officer Pradeep Jain has resigned, with effect from Mar 24.
* POWER FINANCE CORP: Plans to issue bonds maturing on Jul 16, 2018 and has invited bids for quantum of funds and coupon by 1115 IST Thursday.
* PUNJAB NATIONAL BANK: Has left its marginal cost of funds-based lending rates unchanged for March at 8.20- 8.75%. Stepping up efforts to recover bad loans, the bank has identified assets worth 18 bln rupees to be sold to asset reconstruction companies by month end.
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm has unveiled plans offering cheaper data packages than those of rivals BHARTI AIRTEL and Vodafone India.
* SHRIRAM CITY UNION FINANCE: The company's board will on Tuesday consider raising 2.25 bln rupees through the issuance of non-convertible debentures.
* SITA SHREE FOOD PRODUCTS: The Reserve Bank of India has allowed foreign portfolio investors to hold up to 100% stake in the company, against 24% earlier.
* STATE BANK OF INDIA: The bank will relocate 1,500-1,600 branches after April as part of a consolidation
exercise.
* STEEL AUTHORITY OF INDIA: Soma Mondal has taken charge as director-commercial of the company, becoming
the first woman functional director at the state-run behemoth. The company exported 100,000 tn of steel in Feb,
highest ever in the last ten years.
* TATA CONSULTANCY SERVICES: The promoters and promoter group of the company have expressed their intent
to participate in the 160-bln-rupee share buyback.
* TATA GLOBAL BEVERAGES: Has renewed and expanded its partnership with US-based Keurig Green Mountain Inc
to manufacture, sell, license and distribute Tata Global's Eight O'Clock coffee and Tetley tea brands.
* TATA MOTORS: Its total sales in February rose 2% to 47,573 units from 46,674 units a year ago.
* TATA STEEL: As the company's unit at Kalingangar ramps up operations to reach its rated capacity of 3 mln tn, it is looking at multiple options to secure uninterrupted iron ore supplies.
* TVS MOTOR CO: Total sales for February fell 3.6% on year to 211,470 units.
* UNION BANK OF INDIA: May sell stake in wholly-owned subsidiary Union Asset Management Co Pvt to Tokyobased
Dai-ichi Life Insurance Co by the end of this month.
* WOCKHARDT: The US Food and Drug Administration has issued a warning letter to the company's US-based
step-down subsidiary Morton Grove Pharmaceuticals Inc.
* ZYDUS WELLNESS: Board approved payment of an interim dividend of 6.5 rupees per share for 2016-17 (AprMar).
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
* BHARTI AIRTEL: The company has roped in Finnish technology and networks multinational Nokia to create a strategic roadmap for its network evolution to the fifth generation mobile technology standard.* COAL INDIA: Coal India Ltd's production was at 54.30 mln tn in February, lower than the target of 56.81 mln tn for the month.
* DENA BANK: Apollo Munich Health Insurance has tied up with the bank to provide health insurance products to the latter's customers.
* DLF: The company's audit panel has given its nod for entering a definitive deal to sell promoters' 40% stake in its rental assets arm--DLF Cyber City Developers Ltd--to Singapore's sovereign wealth fund GIC.
* DR LAL PATHLABS: Westbridge Crossover Fund LLC has sold 1.29 mln shares or 1.56% stake in the company at 950.27 rupees apiece in a bulk deal on the BSE.
* EICHER MOTORS: Total sales of VE Commercial Vehicles, a joint venture between the company and Volvo, rose 9.3% on year to 5,499 units in February.
* GRASIM INDUSTRIES: The company's equity shareholders, secured and unsecured creditors will hold a meeting on Apr 6 as ordered by the National Company Law Tribunal.
* HERO MOTOCORP: The company's total sales in February fell 4.8% to 524,766 units from 550,992 units a year ago.
* INDIAN OIL CORP: The company plans to come up with a 15-mln-tn refinery, with an investment of about 400 bln rupees, at Nagapattinam in Tamil Nadu.
* JAGRAN PRAKASHAN: Its arm Music Broadcast has started broadcasting from its radio station at Bikaner using frequency modulation 91.1 acquired in Phase III auctions held by the information and broadcasting ministry.
* JAIPRAKASH POWER VENTURES: Has allotted 5.39% stake in the company to IDBI BANK, as conversion of debt into equity under strategic debt restructuring.
* LUPIN: Has launched clobetasol propionate topical solution USP, 0.05%, in the US, a generic of Fougera Pharmaceuticals' Temovate scalp application.
* MAHINDRA & MAHINDRA: The company is studying the possibility of developing an electric sports car, a la Tesla. The company is considering setting up a second base overseas, said President and Chief Executive of the automotive division Pravin Shah.
* NARAYANA HRUDAYALAYA: Is conducting due diligence to buy a Gurugram-based hospital of Panacea Biotec.
* OIL AND NATURAL GAS CORP: Reports over a likely merger between the company and HINDUSTAN PETROLEUM CORP are "premature", a government official said.
* PIDILITE INDUSTRIES: Chief Financial Officer Pradeep Jain has resigned, with effect from Mar 24.
* POWER FINANCE CORP: Plans to issue bonds maturing on Jul 16, 2018 and has invited bids for quantum of funds and coupon by 1115 IST Thursday.
* PUNJAB NATIONAL BANK: Has left its marginal cost of funds-based lending rates unchanged for March at 8.20- 8.75%. Stepping up efforts to recover bad loans, the bank has identified assets worth 18 bln rupees to be sold to asset reconstruction companies by month end.
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm has unveiled plans offering cheaper data packages than those of rivals BHARTI AIRTEL and Vodafone India.
* SHRIRAM CITY UNION FINANCE: The company's board will on Tuesday consider raising 2.25 bln rupees through the issuance of non-convertible debentures.
* SITA SHREE FOOD PRODUCTS: The Reserve Bank of India has allowed foreign portfolio investors to hold up to 100% stake in the company, against 24% earlier.
* STATE BANK OF INDIA: The bank will relocate 1,500-1,600 branches after April as part of a consolidation
exercise.
* STEEL AUTHORITY OF INDIA: Soma Mondal has taken charge as director-commercial of the company, becoming
the first woman functional director at the state-run behemoth. The company exported 100,000 tn of steel in Feb,
highest ever in the last ten years.
* TATA CONSULTANCY SERVICES: The promoters and promoter group of the company have expressed their intent
to participate in the 160-bln-rupee share buyback.
* TATA GLOBAL BEVERAGES: Has renewed and expanded its partnership with US-based Keurig Green Mountain Inc
to manufacture, sell, license and distribute Tata Global's Eight O'Clock coffee and Tetley tea brands.
* TATA MOTORS: Its total sales in February rose 2% to 47,573 units from 46,674 units a year ago.
* TATA STEEL: As the company's unit at Kalingangar ramps up operations to reach its rated capacity of 3 mln tn, it is looking at multiple options to secure uninterrupted iron ore supplies.
* TVS MOTOR CO: Total sales for February fell 3.6% on year to 211,470 units.
* UNION BANK OF INDIA: May sell stake in wholly-owned subsidiary Union Asset Management Co Pvt to Tokyobased
Dai-ichi Life Insurance Co by the end of this month.
* WOCKHARDT: The US Food and Drug Administration has issued a warning letter to the company's US-based
step-down subsidiary Morton Grove Pharmaceuticals Inc.
* ZYDUS WELLNESS: Board approved payment of an interim dividend of 6.5 rupees per share for 2016-17 (AprMar).
