Daily Stock News Today – 31.07.2017
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* 63 MOONS TECHNOLOGIES: Four banks that had lent to the company and challenged the merger of arm National Spot Exchange with the company, have withdrawn their petitions.
* ALEMBIC: Has rejected a request from Unifi Capital, a shareholder of the company, to appoint Murali Rajagopalachari as an independent director, citing conflict of interest and misuse of certain provisions of the Companies Act, 2013.
* AMTEK AUTO: The Chandigarh bench of the National Company Law Tribunal has appointed an
interim resolution professional to oversee the debt resolution of the company.
* BHUSHAN STEEL: Investment firm SSG Capital Management is interested in acquiring stake in the distressed steel company.
* CENTRAL BANK OF INDIA: Reported net loss of 5.8 bln rupees for Apr-Jun as against loss of 5.9 bln rupees a year ago. Total income rose 3.1% on year to 68.7 bln rupees.
* CIPLA: Is looking to file more than 20 applications seeking approval for its generic medicines from the US health regulator this fiscal.
* COROMANDEL INTERNATIONAL: Reported Apr-Jun consolidated net profit of 754.3 mln rupees, up 907% on year. Revenue from operations was at 22.8 bln rupees, up 10.6% on year.
* DENA BANK: Aims to appoint merchant bankers for its proposed qualified institutional placement
worth 4-5 bln rupees in the next 10 days, Chairman and Managing Director Ashwani Kumar has said.
* DEWAN HOUSING FINANCE CORP: Plans to raise up to 5 bln rupees through issue of perpetual
bonds at a coupon of 9.85%, it said in an exchange filing.
* EROS INTERNATIONAL MEDIA: Promoter Eros Worldwide FZ LLC sold 500,000 shares of the
company at 234.2 rupees per share through a bulk deal, data on the National Stock Exchange showed.
* ESCORTS: Plans to offer voluntary retirement scheme to its employees in the quarter started July and expects 100-200 staff to avail of the scheme.
* GODFREY PHILLIPS INDIA: Has not raised the prices of Marlboro brand cigarettes, a company
official said.
* HCL TECHNOLOGIES: India is not a priority business geography for the company as the country has long working capital cycles, and the company would much rather focus on the US and Europe, Chief Financial Officer Anil Chanana said.
* HINDUSTAN PETROLEUM CORPORATION: With OIL & NATURAL GAS CORP's acquisition of the company to be completed by this fiscal, the latter's plans to pick up stakes in upstream fields in Russia will be shelved.
- Kicking off the process for sale of its stake in the company to ONGC, the government has invited bids to appoint merchant bankers and legal consultants or the deal.
* IDEA CELLULAR: Is working with mobile handset manufacturers to develop a 4G-enabled phone as a response to Reliance Jio Infocomm's feature phone announced last week.
* ICICI PRUDENTIAL LIFE INSURANCE CO: The insurance sector regulator has asked the company to take over Sahara India Life Insurance Co from Monday, a notice of Insurance Regulatory and Development Authority of India said.
* IL&FS ENGINEERING AND CONSTRUCTION CO: The Bombay High Court has asked the Centre to appear before it to explain the security concerns for barring the company from participating in the tender process for Mumbai Trans Harbour Link.
* IL&FS TRANSPORTATION NETWORKS: Emerged as the lowest bidder to construct and maintain the two-lane bi-directional Zojila tunnel with parallel escape tunnel on Srinagar-Leh Section in Jammu and Kashmir.
* INDIAN HUME PIPE CO: Received an order worth 1.63 bln rupees from Raipur Municipal Corp,
Chhattisgarh, for augmentation of water supply scheme under Amrut Mission, on a turnkey basis for five years.
* INFOSYS: Anirban Dey, a top executive at products and platforms unit EdgeVerve has quit. Is hiring more locals and investing heavily in Europe as it looks to tap into "greenfield" opportunities in its second largest market.
* ITC: Plans to set up multi-speciality hospitals in a bid to enter the healthcare segment, Chairman Y.C. Deveshwar said. Trade channels hit due to the rollout of the goods and services tax are improving, but the company is unsure as to when normalcy will be restored.
* LANCO INFRATECH: Lanco Group is in advanced talks to sell its commercial office space business to DivyaSree Developers in a deal topping 10 bln rupees.
* LARSEN & TOUBRO: Reported Apr-Jun consolidated net profit of 8.9 bln rupees, up 46.4% on year. Revenue from operations was at 239.9 bln rupees, up 9.7% on year.
* LUPIN: Has received clearance from the US Food and Drug Administration for unit-I of its Pithampur factory in Madhya Pradesh without any adverse observations.
* MARICO: Marico South Africa, a step-down subsidiary, has acquired hair care brand ISOPLUS for 360 mln rupees from JM Products SA and Mary L. Harris.
* NEW DELHI TELEVISION: Has filed a writ petition before the Delhi High Court challenging the 4.29- bln-rupee demand by the Income Tax Department.
* NTPC: Posted a nearly 12% on-year rise in net profit for Apr-Jun to 26.2 bln rupees. Revenue from
operations rose 4.3% to 198.8 bln rupees.
* OBEROI REALTY: Reported Apr-Jun consolidated net profit of 913.7 mln rupees, down 15.8% on
year. Revenue from operations was at 2.6 bln rupees, down 18.5% on year.
* OIL AND NATURAL GAS CORP: Told stock exchanges it is currently not liable to pay $1.57 bln
demanded by the government as its share of differential profit petroleum and royalty from Panna-Mukta and Tapti fields as its partners have termed the demand "premature" and have challenged it in a British court. Has won government approval for acquisition of Gujarat State Petroleum Corp's entire 80% holding in a KG basin gas block for 77.4 bln rupees.Has sought pricing and marketing freedom to help bring to production a 1-trln-cubic-feet gas discovery that will open up a new sedimentary basin after over three decades.
* RELIANCE CAPITAL: Has raised over 2 bln rupees through the issuance of non- convertible
debentures maturing on Oct 28, 2020, at a coupon of 8.32%, the company informed the exchanges.
* RELIANCE COMMUNICATIONS: The proposed merger of the company's wireless business and
Aircel is clouded with more uncertainty as the telecom department set the Supreme Court's go-ahead a condition for it to approve the deal.
- Clearing a major hurdle in its proposed merger with Sistema, the company has provided a bank
guarantee of 3.9 bln rupees to the government for transfer of spectrum in the 800 MHz band to it.
* RELIANCE INDUSTRIES: Has not defaulted on the payment of fine and additional surcharge of 13.7 bln rupees to the Mumbai Metropolitan Region Development Authority for delay in constructing a convention centre in Mumbai.
* TATA MOTORS: Chairman N. Chandrasekaran has said turning around domestic business of the
company is "the need of the hour".
* TECHNOCRAFT INDUSTRIES (INDIA): Has stopped production at its textile plant in Murbad, Thane, to upgrade its effluent treatment plant as desired by Pollution Control Authority.
* TORRENT PHARMACEUTICALS: Three medicines of the company are among those for which the National Pharmaceutical Pricing Authority has notified new ceiling prices.
