Daily Stock News Today – 27.09.2017
* ALLAHABAD BANK: Will cut the interest rate on savings account with balance of up to 4 mln rupees by 50 basis points to 3.5% on Sunday.
* ARSS INFRASTRUCTURE PROJECTS: The Securities and Exchange Board of India has ordered a forensic audit of the company.
* BANK OF INDIA: PT Bank of India Indonesia, in which the bank holds a majority stake, will raise
nearly 656.21 bln rupiah (about 3.21 bln rupees) from a rights issue of up to 347.2 mln shares at 1,890 rupiah a share.
* BLUE STAR: Has forayed into engineering facility management, which covers a wide range of
operation and maintenance services for efficient functioning of electro-mechanical utilities.
* COAL INDIA: The Indian National Trade Union Congress unit at the company has declared a three-day strike from Oct 6 to seek more favourable terms from the management.
* DEN NETWORKS: RELIANCE INDUSTRIES is in talks to acquire the company
* FUTURE ENTERPRISES: Has raised 1.1 bln rupees through two secured redeemable non-convertible debenture issues worth 600 mln rupees and 500 mln rupees at a coupon rate of 8.80% and 8.91%, respectively.
* HCL TECHNOLOGIES: Has retained its guidance of 10.5-12.5% revenue growth as well as 19.5-20.5% growth in operating margin for 2017-18 (Apr-Mar), Hong Kong-based CLSA Asia Pacific Markets said in a note.
* IDBI BANK: Said it was launching 'Project Nischay' with support from The Boston Consulting Group to accelerate its turnaround and improve financial performance.
* IDFC: The company and the Shriram Group have decided to abandon the merger plan as shareholder pressure and dilution fears force them to examine a new, less complicated structure.
* JINDAL WORLDWIDE: Is in the process of evaluating losses due to a fire that broke out in one of its units on Monday.
* JSW ENERGY: The company and the Gujarat government have signed a pact to set up a 40-bln-rupee unit to manufacture electric cars.
* L&T FINANCE HOLDINGS: Has invested around 1.5 bln rupees in Pune-based Saarthi Group's two residential projects, .
* MAHANAGAR TELEPHONE NIGAM: Has introduced two new plans offering 1 GB of 3G data per day to prepaid customers.
* MAHINDRA LIFESPACE DEVELOPERS: Launched phase-2 of its project 'Windchimes' in Bengaluru.
* MONNET ISPAT & ENERGY: Private equity investors such as TPG, Blackstone, and SSG Capital are in the race for a controlling stake in the company.
* NATIONAL FERTILIZERS: The Directorate General of Foreign Trade has allowed RASHTRIYA
CHEMICALS & FERTILIZERS and the company to import urea for three months, according to a
notification on the agency's website.
* NMDC: Is looking to sell a stake of at least 49% in its Chhattisgarh steel plant, as it prepares to begin production at the 3-mln-tn facility in three to six months.
* PETRON ENGINEERING CONSTRUCTION: Has got a 2.80-bln-rupee order from JSW STEEL for supply, fabrication, erection and alignment of prefabricated steel structure for blast furnace 2 and raw material handling system conveyor gallery and junction house in Maharashtra.
* RELIANCE COMMUNICATIONS: The National Company Law Tribunal has adjourned a hearing on Ericsson India's insolvency petition against the company to Oct 6. At the annual general meeting, Chairman Anil Ambani said they expect to find appropriate solutions to various debt and growth related challenges the company is facing by the end of the current financial year.
* RELIANCE INFRASTRUCTURE: The plan to list road assets via Infrastructure Investment Trust has got delayed by another quarter.
* RELIANCE POWER: Expects to achieve financial closure for its Bangladesh power project, which has an investment outlay of $1 bln, in 2017-18.
* RELIGARE ENTERPRISES: Board of Religare Finvest, a subsidiary the company, will on Friday
consider buying back non-convertible debentures worth 1 bln rupees.
* SIEMENS: Parent Siemens AG and Alstom SA agreed to merge their rail businesses to create a
European transport giant aimed at countering competition from China.
* SPICE MOBILITY: Has acquired additional 10.78% in subsidiary, Spice Digital, in which the company already held 89.19% stake.
* STEEL AUTHORITY OF INDIA: ArcelorMittal's interest in buying debt-ridden Indian steel companies could derail its planned $1-bln joint venture with the company, a steel ministry report showed.
* SUN PHARMACEUTICAL INDUSTRIES: Has completed remediation activities at its Halol facility and is now awaiting a re-inspection by the US Food and Drug Administration.
* TATA CONSULTANCY SERVICES: The company's UK-based pension services arm, Diligenta, has secured a 15-year partnership with Scottish Widows, the life and pension business of Lloyds Banking Group. Lloyds Banking Group will move 1,000 employees from its insurance division to Diligenta, a UKbased subsidiary of Tata Consultancy Services.
* TATA MOTORS: To continue the production of Nano cars for some more time as the vehicle has an "emotional connect" with the Tata Group.
* TATA STEEL: thyssenkrupp raised almost $1.7 bln in a share placing on to help fund the industrial
goods businesses that will stay with the firm after the merger of its steel operations with the company
next year.
* TVS MOTOR: Has sold over 2 mln units of TVS Jupiter scooters in four years of its launch in 2013.
* WIPRO: Has entered into a partnership with CloudGenix Inc to offer open and managed softwaredefined wide area networking services.
* YES BANK: The capital-raising committee of the bank's board will consider raising funds through the issue of Basel-III compliant tier-II bonds, on or after Friday, the lender said in an exchange filing.
CLICK HERE
*********************************************************************************
* ARSS INFRASTRUCTURE PROJECTS: The Securities and Exchange Board of India has ordered a forensic audit of the company.
* BANK OF INDIA: PT Bank of India Indonesia, in which the bank holds a majority stake, will raise
nearly 656.21 bln rupiah (about 3.21 bln rupees) from a rights issue of up to 347.2 mln shares at 1,890 rupiah a share.
* BLUE STAR: Has forayed into engineering facility management, which covers a wide range of
operation and maintenance services for efficient functioning of electro-mechanical utilities.
* COAL INDIA: The Indian National Trade Union Congress unit at the company has declared a three-day strike from Oct 6 to seek more favourable terms from the management.
* DEN NETWORKS: RELIANCE INDUSTRIES is in talks to acquire the company
* FUTURE ENTERPRISES: Has raised 1.1 bln rupees through two secured redeemable non-convertible debenture issues worth 600 mln rupees and 500 mln rupees at a coupon rate of 8.80% and 8.91%, respectively.
* HCL TECHNOLOGIES: Has retained its guidance of 10.5-12.5% revenue growth as well as 19.5-20.5% growth in operating margin for 2017-18 (Apr-Mar), Hong Kong-based CLSA Asia Pacific Markets said in a note.
* IDBI BANK: Said it was launching 'Project Nischay' with support from The Boston Consulting Group to accelerate its turnaround and improve financial performance.
* IDFC: The company and the Shriram Group have decided to abandon the merger plan as shareholder pressure and dilution fears force them to examine a new, less complicated structure.
* JINDAL WORLDWIDE: Is in the process of evaluating losses due to a fire that broke out in one of its units on Monday.
* JSW ENERGY: The company and the Gujarat government have signed a pact to set up a 40-bln-rupee unit to manufacture electric cars.
* L&T FINANCE HOLDINGS: Has invested around 1.5 bln rupees in Pune-based Saarthi Group's two residential projects, .
* MAHANAGAR TELEPHONE NIGAM: Has introduced two new plans offering 1 GB of 3G data per day to prepaid customers.
* MAHINDRA LIFESPACE DEVELOPERS: Launched phase-2 of its project 'Windchimes' in Bengaluru.
* MONNET ISPAT & ENERGY: Private equity investors such as TPG, Blackstone, and SSG Capital are in the race for a controlling stake in the company.
* NATIONAL FERTILIZERS: The Directorate General of Foreign Trade has allowed RASHTRIYA
CHEMICALS & FERTILIZERS and the company to import urea for three months, according to a
notification on the agency's website.
* NMDC: Is looking to sell a stake of at least 49% in its Chhattisgarh steel plant, as it prepares to begin production at the 3-mln-tn facility in three to six months.
* PETRON ENGINEERING CONSTRUCTION: Has got a 2.80-bln-rupee order from JSW STEEL for supply, fabrication, erection and alignment of prefabricated steel structure for blast furnace 2 and raw material handling system conveyor gallery and junction house in Maharashtra.
* RELIANCE COMMUNICATIONS: The National Company Law Tribunal has adjourned a hearing on Ericsson India's insolvency petition against the company to Oct 6. At the annual general meeting, Chairman Anil Ambani said they expect to find appropriate solutions to various debt and growth related challenges the company is facing by the end of the current financial year.
* RELIANCE INFRASTRUCTURE: The plan to list road assets via Infrastructure Investment Trust has got delayed by another quarter.
* RELIANCE POWER: Expects to achieve financial closure for its Bangladesh power project, which has an investment outlay of $1 bln, in 2017-18.
* RELIGARE ENTERPRISES: Board of Religare Finvest, a subsidiary the company, will on Friday
consider buying back non-convertible debentures worth 1 bln rupees.
* SIEMENS: Parent Siemens AG and Alstom SA agreed to merge their rail businesses to create a
European transport giant aimed at countering competition from China.
* SPICE MOBILITY: Has acquired additional 10.78% in subsidiary, Spice Digital, in which the company already held 89.19% stake.
* STEEL AUTHORITY OF INDIA: ArcelorMittal's interest in buying debt-ridden Indian steel companies could derail its planned $1-bln joint venture with the company, a steel ministry report showed.
* SUN PHARMACEUTICAL INDUSTRIES: Has completed remediation activities at its Halol facility and is now awaiting a re-inspection by the US Food and Drug Administration.
* TATA CONSULTANCY SERVICES: The company's UK-based pension services arm, Diligenta, has secured a 15-year partnership with Scottish Widows, the life and pension business of Lloyds Banking Group. Lloyds Banking Group will move 1,000 employees from its insurance division to Diligenta, a UKbased subsidiary of Tata Consultancy Services.
* TATA MOTORS: To continue the production of Nano cars for some more time as the vehicle has an "emotional connect" with the Tata Group.
* TATA STEEL: thyssenkrupp raised almost $1.7 bln in a share placing on to help fund the industrial
goods businesses that will stay with the firm after the merger of its steel operations with the company
next year.
* TVS MOTOR: Has sold over 2 mln units of TVS Jupiter scooters in four years of its launch in 2013.
* WIPRO: Has entered into a partnership with CloudGenix Inc to offer open and managed softwaredefined wide area networking services.
* YES BANK: The capital-raising committee of the bank's board will consider raising funds through the issue of Basel-III compliant tier-II bonds, on or after Friday, the lender said in an exchange filing.
