Daily Stock News Today – 31.08.2017
* AKSH OPTIFIBRE: The Company’s services division has been empanelled as the national-level business correspondent for BANK OF BARODA.
* ASHOKA BUILDCON: HDFC Mutual Fund has bought 2.4 mln shares in the company through a bulk deal on the National Stock Exchange and BSE at 188 rupees apiece.
* BIOCON: The US Food and Drug Administration has extended the deadline for reviewing the company's trastuzumab application by three months to Dec 3. The company said a delay in the review will not defer the anticipated timeline for commercialisation of the drug in the US.
* COCHIN SHIPYARD: Has signed memorandum of understanding with Central Institute of Fisheries Technology in Kochi for design and construction of fishing vessels.
* CORPORATION BANK: To cut the interest rate on savings accounts with balance of up to 5 mln rupees by 50 basis points on Friday.
* FORTIS HEALTHCARE: Sold its entire stake, or 5%, in Fortis Medicare International to Fortis Global Healthcare for $1.
* INDIAN OIL CORP: Plans to start work soon on increasing the bottling capacity of its liquefied petroleum gas bottling plant in Uttar Pradesh's Amethi district by roughly six times to 60,000 tn per year. The company's shareholders approved issuance of debentures.
* JAGRAN PRAKASHAN: NTAsian Discovery Master sold 6.49 mln shares of the company at 173 rupees apiece on the National Stock Exchange through a bulk deal.
* LANCO INFRATECH: DENA BANK expects loans to two power projects of the company to slip into the non-performing asset category in Jul-Sep.
* LARSEN & TOUBRO: Plans to bid for orders worth $28 bln including warships and submarines in India.
* MAJESTIC AUTO: The board has approved the sale of assets of up to 3 bln rupees.
* NMDC: Revises down production targets by 33% due to slowdown
* NTPC: The government will add over 91 bln rupees to its divestment proceeds due to stake sale in the company, which concluded Wednesday. The company has signed a term loan agreement for 30 bln rupees with ICICI BANK for partially funding its capital expenditure.
* OIL AND NATURAL GAS CORP: Will soon seek shareholders' approval to raise a debt of 250 bln rupees to fund the planned acquisition of HINDUSTAN PETROLEUM CORP.
* RICOH INDIA: Plans to raise up to 10 bln rupees through various instruments.
* SCHAEFFLER INDIA: Two Indian arms of Germany-based Schaeffler Group will merge into the company, the group's listed Indian entity.
* SURYA ROSHNI: Warburg Pincus, CROMPTON GREAVES CONSUMER ELECTRICALS, and Bain are among those in the fray to buy a controlling stake in the company.
* UJJIVAN FINANCIAL SERVICES: Cinnamon Capital has bought 5.9 mln shares of the company on the National Stock Exchange at 360 rupees each through bulk deal.
* WIPRO: Has received shareholders' approval for buyback of shares worth 110 bln rupees.
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* ASHOKA BUILDCON: HDFC Mutual Fund has bought 2.4 mln shares in the company through a bulk deal on the National Stock Exchange and BSE at 188 rupees apiece.
* BIOCON: The US Food and Drug Administration has extended the deadline for reviewing the company's trastuzumab application by three months to Dec 3. The company said a delay in the review will not defer the anticipated timeline for commercialisation of the drug in the US.
* COCHIN SHIPYARD: Has signed memorandum of understanding with Central Institute of Fisheries Technology in Kochi for design and construction of fishing vessels.
* CORPORATION BANK: To cut the interest rate on savings accounts with balance of up to 5 mln rupees by 50 basis points on Friday.
* FORTIS HEALTHCARE: Sold its entire stake, or 5%, in Fortis Medicare International to Fortis Global Healthcare for $1.
* INDIAN OIL CORP: Plans to start work soon on increasing the bottling capacity of its liquefied petroleum gas bottling plant in Uttar Pradesh's Amethi district by roughly six times to 60,000 tn per year. The company's shareholders approved issuance of debentures.
* JAGRAN PRAKASHAN: NTAsian Discovery Master sold 6.49 mln shares of the company at 173 rupees apiece on the National Stock Exchange through a bulk deal.
* LANCO INFRATECH: DENA BANK expects loans to two power projects of the company to slip into the non-performing asset category in Jul-Sep.
* LARSEN & TOUBRO: Plans to bid for orders worth $28 bln including warships and submarines in India.
* MAJESTIC AUTO: The board has approved the sale of assets of up to 3 bln rupees.
* NMDC: Revises down production targets by 33% due to slowdown
* NTPC: The government will add over 91 bln rupees to its divestment proceeds due to stake sale in the company, which concluded Wednesday. The company has signed a term loan agreement for 30 bln rupees with ICICI BANK for partially funding its capital expenditure.
* OIL AND NATURAL GAS CORP: Will soon seek shareholders' approval to raise a debt of 250 bln rupees to fund the planned acquisition of HINDUSTAN PETROLEUM CORP.
* RICOH INDIA: Plans to raise up to 10 bln rupees through various instruments.
* SCHAEFFLER INDIA: Two Indian arms of Germany-based Schaeffler Group will merge into the company, the group's listed Indian entity.
* SURYA ROSHNI: Warburg Pincus, CROMPTON GREAVES CONSUMER ELECTRICALS, and Bain are among those in the fray to buy a controlling stake in the company.
* UJJIVAN FINANCIAL SERVICES: Cinnamon Capital has bought 5.9 mln shares of the company on the National Stock Exchange at 360 rupees each through bulk deal.
* WIPRO: Has received shareholders' approval for buyback of shares worth 110 bln rupees.
