Daily Stock News Today – 01.09.2017
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* ABB INDIA: Will set up solar inverters at 750 railway stations in north India.
* ALEMBIC PHARMACEUTICALS: The company's formulation facility at Panelav in Gujarat has received European Union's good manufacturing practices certificate.
* BEML: Merrill Lynch Markets Singapore has bought 264,600 shares in the company through a bulk deal on the National Stock Exchange at 1,763.52 rupees apiece.
* BHARAT FINANCIAL INCLUSION: Has completed its loan securitisation transaction for a pool value of 2.44 bln rupees.
* COAL INDIA: Indian Railways' freight from coal is likely to be hit as subsidiaries of the company are not being able to load the targeted quantities.
* DCB BANK: Has said its operations will not be affected by the US' levy of a fine on a Pakistani bank promoted by the
same organisation as the Indian lender is.
* DR REDDY'S LABORATORIES: US-based Vivus Inc has settled a patent litigation with the company for its weightmanagement drug generic Qsymia.
* GTL INFRASTRUCTURE: The bondholders and the Joint Lender Forum of the company have approved the company's plan to refinance existing Foreign Currency Convertible Bonds due in 2022.
* HINDALCO INDUSTRIES: Has cut prices of their aluminium products by 1% from Thursday.
* IDBI BANK: Has repaid interest to its perpetual bond investors, including HDFC Mutual Fund and JP Morgan.
* IDEA CELLULAR: Vodafone India and the company expect to complete their merger by March 2018 and will be able to get the necessary regulatory approvals.
* IDFC BANK: Is approaching corporates with an employee benefit solution that instantly reimburses staff and frees them and the company's human resources department from paperwork.
* INDIAN BANK: Plans to raise around 14 bln rupees via follow-on public offering in the last quarter of the current fiscal.
* INFO EDGE (INDIA): Has invested 86.67 mln rupees in its step-down subsidiary Canvera Digital Technologies through its wholly-owned subsidiary.
* IRB INFRASTRUCUTURE DEVELOPERS: The company has approved sale of IRB Pathankot Amritsar Toll Road to IRB INVIT FUND at an enterprise value of 15.7 bln rupees.
* JINDAL SAW: Has sold its 4.77 mln shares in the subsidiary Jindal ITF.
* LAKSHMI VILAS BANK: Has cut its lending rates based on the marginal cost of funds by 5-10 basis points on all tenures, effective today.
* MAHINDRA & MAHINDRA: Will participate in the government's global tender to supply it with electric vehicles.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: Has raised 500 mln rupees through issue of bonds maturing on Dec
22, 2020.
* NTPC: Life Insurance Corp of India has bought 254.4 mln shares or 3.1% stake in the company through an offer for sale.
* REI AGRO: The company's insolvency resolution professional said liquidation proceedings against the food packaging company under the Insolvency and Bankruptcy Code, 2016, has been initiated.
* RELIANCE CAPITAL: Will seek shareholder approval for raising funds through qualified institutional placement and the issue of non-convertible debentures or other debt securities at its annual general meeting on Sep 26.
* RELIANCE INDUSTRIES: The Delhi High Court has dismissed an intervention application filed by subsidiary Reliance Jio Infocomm in a case related to interconnect usage charges.
* STATE BANK OF INDIA: Has left its marginal cost of funds-based lending rates unchanged for September.
* STRIDES SHASUN: The company's Australia-based step down subsidiary Arrow Pharmaceuticals has acquired the Australian operations of Amneal Pharmaceuticals.
* TALWALKARS BETTER VALUE FITNESS: Promoter Girish Talwalkar together with Nanda Talwalkar sold 2.18% stake or 648,460 shares through open market on Wednesday.
* VEDANTA: Has cut prices of their aluminium products by 1% from Thursday.
* VIAAN INDUSTRIES: The board has decided to issue 1.46 mln shares at 29 rupees a share on preferential basis to HT MEDIA.
* VIJAYA BANK: Has closed its qualified institutional placement, setting an issue price of 63.05 rupees a share.
* VRL LOGISTICS: Reliance Mutual Fund
