Daily Stock News Today – 24.10.2017
* BAJAJ FINANCE: Will infuse 2 bln rupees into wholly-owned arm Bajaj Housing Finance in Jan-Mar to ensure adequate capitalisation for future growth.
* BHARTI AIRTEL: Among five incumbent private mobile operators, only the company added new
subscribers in September, data from Cellular Operators Association of India showed.
* CANARA BANK: Plans to hire investment bankers to help it sell stakes in some assets that are unrelated to its main lending business.
* COAL INDIA: Plans to rationalise supply sources for private power producers to reduce the distance over which coal is carried in an effort to cut transport and generation costs.
* COCHIN SHIPYARD: Has incorporated a joint venture with Hooghly Dock & Port Engineering to upgrade and modernise shipbuilding infrastructure at two shipyard sites in Kolkata.
* ELECTROSTEEL STEELS: SREI INFRASTRUCTURE FINANCE has formally expressed interest to acquire the company, which is currently undergoing insolvency proceedings.
* GLENMARK PHARMACEUTICALS: Indian patients of psoriasis will soon get a new treatment option with the launch of apremilast, a new class of oral medication by the company.
* INDIABULLS HOUSING FINANCE: The board has decided to pay interim dividend of 9 rupees per share.
- Shareholders have approved the appointment of Divyesh B. Shah as a whole-time director and chief executive officer of the company.
- The board has also approved rising up to 250 bln rupees through the issuance of non-convertible
debentures and 30 bln rupees via subordinated debt as also the issuance of Masala bonds or foreign currency denominated bonds in tranches.
* INDUSIND BANK: The bank and digital financial services company Mobikwik have together launched payments wallet 'IndusInd Mobikwik'.
* IVRCL: Due to failure of the debt recast package, lenders have approved the company's exit from the corporate debt restructuring scheme.
* JAIPRAKASH ASSOCIATES: Has informed the Supreme Court that it had received an offer worth 25 bln rupees for rights to the 165-km Yamuna Expressway.
* JBF INDUSTRIES: The Company is in initial talks with various parties for the strategic sale or restructuring of overseas subsidiaries, and it had not reached any "conclusive decisions" in this regard.
* MAHINDRA & MAHINDRA: The company and Energy Efficiency Services said they have tied up to reduce the former's energy consumption at 18 manufacturing units by installing lighting that use light-emitting diodes.
* MARUTI SUZUKI INDIA: Is likely to have a portfolio of more than half a dozen utility vehicles and crossovers with three new offerings in the next four years.
* NATIONAL ALUMINIUM CO: Rejecting the company's claim that three units of its captive power plants were shut due to fuel shortage, the coal ministry said there is ample dispatch of coal to the company.
* NEW DELHI TELEVISION: The Securities and Exchange Board of India has disposed of the proceedings against the company's promoters on allegations of delaying stockholding information to stock exchanges.
* NTPC: Six months after it conducted a solar auction of 250 MW at the Kadapa Solar Park in Andhra Pradesh, the company has still not been able to find a buyer for the power the project will produce.
* POLSON: Two promoters will sell 6.8% stake in the company through offer for sale at a floor price of 8,600 rupees a share, on Wednesday and Thursday.
* RAMCO CEMENTS: Has acquired 48.1 mln shares of 1 rupee each in Lynks Logistics, increasing its shareholding to 47.62%.
* RELIANCE COMMUNICATIONS: Has received the approval of Department of Telecommunications for the merger of wireless business of Sistema Shyam Teleservices with itself.
* SCHAEFFLER INDIA: Is planning to invest 2.5-3.0 bln rupees per annum over the next two years for expansion plans to seize emerging business opportunities.
* SEL MANUFACTURING CO: Has become the first company in the second list of corporate defaulters identified by the RBI against which bankruptcy proceedings have been filed.
* SHILPI CABLE TECHNOLOGIES: Sonarg Plastics has moved to National Company Law Tribunal, Principle Bench-New Delhi, against Shilpi Cable.
* STATE BANK OF INDIA: Has signed a memorandum of understanding with agricultural machinery manufacturer Escorts to provide finances to farmers to purchase the company's tractors.
* SUNTECK REALTY: Fidelity Emerging Markets Fund cumulatively bought 3.01 mln shares or 2.4% stake in the company, while The Sri Gopalakrishna Trust sold 1.47 mln shares or 1.17% stake in the company through block deals on the National Stock Exchange and BSE.
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* BHARTI AIRTEL: Among five incumbent private mobile operators, only the company added new
subscribers in September, data from Cellular Operators Association of India showed.
* CANARA BANK: Plans to hire investment bankers to help it sell stakes in some assets that are unrelated to its main lending business.
* COAL INDIA: Plans to rationalise supply sources for private power producers to reduce the distance over which coal is carried in an effort to cut transport and generation costs.
* COCHIN SHIPYARD: Has incorporated a joint venture with Hooghly Dock & Port Engineering to upgrade and modernise shipbuilding infrastructure at two shipyard sites in Kolkata.
* ELECTROSTEEL STEELS: SREI INFRASTRUCTURE FINANCE has formally expressed interest to acquire the company, which is currently undergoing insolvency proceedings.
* GLENMARK PHARMACEUTICALS: Indian patients of psoriasis will soon get a new treatment option with the launch of apremilast, a new class of oral medication by the company.
* INDIABULLS HOUSING FINANCE: The board has decided to pay interim dividend of 9 rupees per share.
- Shareholders have approved the appointment of Divyesh B. Shah as a whole-time director and chief executive officer of the company.
- The board has also approved rising up to 250 bln rupees through the issuance of non-convertible
debentures and 30 bln rupees via subordinated debt as also the issuance of Masala bonds or foreign currency denominated bonds in tranches.
* INDUSIND BANK: The bank and digital financial services company Mobikwik have together launched payments wallet 'IndusInd Mobikwik'.
* IVRCL: Due to failure of the debt recast package, lenders have approved the company's exit from the corporate debt restructuring scheme.
* JAIPRAKASH ASSOCIATES: Has informed the Supreme Court that it had received an offer worth 25 bln rupees for rights to the 165-km Yamuna Expressway.
* JBF INDUSTRIES: The Company is in initial talks with various parties for the strategic sale or restructuring of overseas subsidiaries, and it had not reached any "conclusive decisions" in this regard.
* MAHINDRA & MAHINDRA: The company and Energy Efficiency Services said they have tied up to reduce the former's energy consumption at 18 manufacturing units by installing lighting that use light-emitting diodes.
* MARUTI SUZUKI INDIA: Is likely to have a portfolio of more than half a dozen utility vehicles and crossovers with three new offerings in the next four years.
* NATIONAL ALUMINIUM CO: Rejecting the company's claim that three units of its captive power plants were shut due to fuel shortage, the coal ministry said there is ample dispatch of coal to the company.
* NEW DELHI TELEVISION: The Securities and Exchange Board of India has disposed of the proceedings against the company's promoters on allegations of delaying stockholding information to stock exchanges.
* NTPC: Six months after it conducted a solar auction of 250 MW at the Kadapa Solar Park in Andhra Pradesh, the company has still not been able to find a buyer for the power the project will produce.
* POLSON: Two promoters will sell 6.8% stake in the company through offer for sale at a floor price of 8,600 rupees a share, on Wednesday and Thursday.
* RAMCO CEMENTS: Has acquired 48.1 mln shares of 1 rupee each in Lynks Logistics, increasing its shareholding to 47.62%.
* RELIANCE COMMUNICATIONS: Has received the approval of Department of Telecommunications for the merger of wireless business of Sistema Shyam Teleservices with itself.
* SCHAEFFLER INDIA: Is planning to invest 2.5-3.0 bln rupees per annum over the next two years for expansion plans to seize emerging business opportunities.
* SEL MANUFACTURING CO: Has become the first company in the second list of corporate defaulters identified by the RBI against which bankruptcy proceedings have been filed.
* SHILPI CABLE TECHNOLOGIES: Sonarg Plastics has moved to National Company Law Tribunal, Principle Bench-New Delhi, against Shilpi Cable.
* STATE BANK OF INDIA: Has signed a memorandum of understanding with agricultural machinery manufacturer Escorts to provide finances to farmers to purchase the company's tractors.
* SUNTECK REALTY: Fidelity Emerging Markets Fund cumulatively bought 3.01 mln shares or 2.4% stake in the company, while The Sri Gopalakrishna Trust sold 1.47 mln shares or 1.17% stake in the company through block deals on the National Stock Exchange and BSE.
