Daily Stock News Today – 23.10.2017
* ALKEM LABORATORIES: The board has approved a proposal to appoint Joint Managing Director Dhananjay Kumar Singh as executive chairman of the company as and when incumbent Basudeo N. Singh steps down.
* ASTRAZENECA PHARMA INDIA: Has received authorisation from the Drug Controller General of India to import and market Xigduo XR tablets in India.
* ATUL LTD: The company, along with subsidiary Atul Finserv, has increased its total stake in associate company AMAL LTD to 52.86% from 36.74%.
* AXIS BANK: Will keep its lending rates based on marginal cost of funds unchanged. Reported Jul-Sep net profit of 4.3 bln rupees, up 35.5% on year. Total income were at 138.2 bln rupees, up 0.9% on year.
* BHARAT PETROLEUM CORP: Pursuant to shareholders' approval at its annual general meeting on Sep 12, the company has planned to raise up to 20 bln rupees through unsecured non-convertible debentures in 2017-18 (Apr-Mar).
* BHARTI AIRTEL: Plans to phase out its third generation service in two years and upgrade all subscribers using the service to faster fourth generation networks.
* CLARIS LIFESCIENCES: The Reserve Bank of India has raised the limit for investment by foreign portfolio investors in the company to 49% of the paid-up capital from 24%, while the limit for non-resident Indians was also increased to 24% from 10%.
* CRISIL: Reported Jul-Sep consolidated net profit of 694.2 mln rupees, down 0.8% on year. Total income from operations was at 4.1 bln rupees, up 5.6% on year. The board has recommended to pay 6 rupees interim dividend.
* DEWAN HOUSING FINANCE CORP: Plans to raise up to 5 bln rupees through 533-day non-convertible debentures at a coupon rate of 7.55%.
* FUTURE CONSUMER: Has formed a joint venture with E.K. Sons Agro Foods to manufacture and market wheat products.
* FUTURE LIFESTYLE FASHIONS: Flipkart has begun exploratory discussions with Kishore Biyani to pick up an 8-10% stake in the company.
* JAIPRAKASH POWER VENTURES: Lenders will decide on selling shares of the company as per
guidelines given by the Reserve Bank of India under Strategic Debt Restructuring scheme.
* JBF INDUSTRIES: Is in discussions with potential buyers for a stake sale which could lead to a change of management control in the Mumbai-based polyester maker.
* KOTAK MAHINDRA BANK: The bank and financial technology firm Zeta have announced the launch of Paymint, a multi-wallet digital prepaid solution for salaried employees.
* NATIONAL ALUMINIUM CO: Is planning to set up two joint ventures--one with US-based Almex and another with Russia's Rusal--at the upcoming Angul Aluminium Park in Odisha.
* NILA INFRASTRUCTURES: Board has approved demerger of its real estate business into Parmananday Superstructure.
* NTPC: The Environment Pollution (Prevention & Control) Authority for the National Capital Region has ordered closing of the company's Badarpur thermal power plant and banned diesel generator sets in the national capital because of high level of air pollution.
* PIRAMAL ENTERPRISES: Has fixed 2,690 rupees per share as conversion price for its 50-bln-rupee compulsorily convertible debenture issue.
* POWER GRID CORP OF INDIA: Got an order under tariff-based competitive bidding to set up three 400 kV substations and associated 400 kV transmission lines in Bihar.
* RELIANCE INDUSTRIES: The company along with partner BP Plc, has submitted a $1.4-bln plan to produce 7 mln cu mtr a day of natural gas from KG-D6 deep-sea fields in the Bay of Bengal.
* SAB EVENTS & GOVERNANCE NOW MEDIA: The CENTRAL BANK OF INDIA has sold 76,298 shares or 0.72% in the company at 12.16 rupees per share through a bulk deal on the National Stock Exchange.
* SHREE RENUKA SUGARS: Arm Renuka do Brasil has fired around 900 people from its two cane mills in Brazil and returned to owners most of the land it used to lease to plant cane.
* SUTLEJ TEXTILES & INDUSTRIES: Board has approved acquisition of operations of American Silk Mills for up to $5 mln.
* UPL: Has announced plans to invest 60 bln rupees to set up a plant to manufacture agro-chemicals and intermediates at Dahej, Gujarat.
* WIPRO: Reported Jul-Sep consolidated net profit of 21.9 bln rupees, up 5.1% on quarter. Revenue from operations was 134.2 bln rupees, down 1.5% on quarter. Going ahead, the company sees good traction in all its business verticals, except in healthcare segment, Chief Executive Officer Abidali Z.Neemuchwala said.
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* ASTRAZENECA PHARMA INDIA: Has received authorisation from the Drug Controller General of India to import and market Xigduo XR tablets in India.
* ATUL LTD: The company, along with subsidiary Atul Finserv, has increased its total stake in associate company AMAL LTD to 52.86% from 36.74%.
* AXIS BANK: Will keep its lending rates based on marginal cost of funds unchanged. Reported Jul-Sep net profit of 4.3 bln rupees, up 35.5% on year. Total income were at 138.2 bln rupees, up 0.9% on year.
* BHARAT PETROLEUM CORP: Pursuant to shareholders' approval at its annual general meeting on Sep 12, the company has planned to raise up to 20 bln rupees through unsecured non-convertible debentures in 2017-18 (Apr-Mar).
* BHARTI AIRTEL: Plans to phase out its third generation service in two years and upgrade all subscribers using the service to faster fourth generation networks.
* CLARIS LIFESCIENCES: The Reserve Bank of India has raised the limit for investment by foreign portfolio investors in the company to 49% of the paid-up capital from 24%, while the limit for non-resident Indians was also increased to 24% from 10%.
* CRISIL: Reported Jul-Sep consolidated net profit of 694.2 mln rupees, down 0.8% on year. Total income from operations was at 4.1 bln rupees, up 5.6% on year. The board has recommended to pay 6 rupees interim dividend.
* DEWAN HOUSING FINANCE CORP: Plans to raise up to 5 bln rupees through 533-day non-convertible debentures at a coupon rate of 7.55%.
* FUTURE CONSUMER: Has formed a joint venture with E.K. Sons Agro Foods to manufacture and market wheat products.
* FUTURE LIFESTYLE FASHIONS: Flipkart has begun exploratory discussions with Kishore Biyani to pick up an 8-10% stake in the company.
* JAIPRAKASH POWER VENTURES: Lenders will decide on selling shares of the company as per
guidelines given by the Reserve Bank of India under Strategic Debt Restructuring scheme.
* JBF INDUSTRIES: Is in discussions with potential buyers for a stake sale which could lead to a change of management control in the Mumbai-based polyester maker.
* KOTAK MAHINDRA BANK: The bank and financial technology firm Zeta have announced the launch of Paymint, a multi-wallet digital prepaid solution for salaried employees.
* NATIONAL ALUMINIUM CO: Is planning to set up two joint ventures--one with US-based Almex and another with Russia's Rusal--at the upcoming Angul Aluminium Park in Odisha.
* NILA INFRASTRUCTURES: Board has approved demerger of its real estate business into Parmananday Superstructure.
* NTPC: The Environment Pollution (Prevention & Control) Authority for the National Capital Region has ordered closing of the company's Badarpur thermal power plant and banned diesel generator sets in the national capital because of high level of air pollution.
* PIRAMAL ENTERPRISES: Has fixed 2,690 rupees per share as conversion price for its 50-bln-rupee compulsorily convertible debenture issue.
* POWER GRID CORP OF INDIA: Got an order under tariff-based competitive bidding to set up three 400 kV substations and associated 400 kV transmission lines in Bihar.
* RELIANCE INDUSTRIES: The company along with partner BP Plc, has submitted a $1.4-bln plan to produce 7 mln cu mtr a day of natural gas from KG-D6 deep-sea fields in the Bay of Bengal.
* SAB EVENTS & GOVERNANCE NOW MEDIA: The CENTRAL BANK OF INDIA has sold 76,298 shares or 0.72% in the company at 12.16 rupees per share through a bulk deal on the National Stock Exchange.
* SHREE RENUKA SUGARS: Arm Renuka do Brasil has fired around 900 people from its two cane mills in Brazil and returned to owners most of the land it used to lease to plant cane.
* SUTLEJ TEXTILES & INDUSTRIES: Board has approved acquisition of operations of American Silk Mills for up to $5 mln.
* UPL: Has announced plans to invest 60 bln rupees to set up a plant to manufacture agro-chemicals and intermediates at Dahej, Gujarat.
* WIPRO: Reported Jul-Sep consolidated net profit of 21.9 bln rupees, up 5.1% on quarter. Revenue from operations was 134.2 bln rupees, down 1.5% on quarter. Going ahead, the company sees good traction in all its business verticals, except in healthcare segment, Chief Executive Officer Abidali Z.Neemuchwala said.
