Daily Stock News Today – 26.10.2017
* AXIS BANK: The list of accounts which the Reserve Bank of India recently asked the bank to classify as nonperforming exposures, includes Essar Power Gujarat, JINDAL STEEL & POWER, JINDAL STAINLESS, SHREE RENUKA SUGARS, Lanco Kondapalli Power, Lanco Amarkantak Power and BALLARPUR INDUSTRIES.
* BHARAT PETROLEUM CORP: To raise $500 mln to partly fund its planned capital expenditure of 80 bln rupees for this financial year.
* CHAMBAL FERTILISERS AND CHEMICALS: The company is cautious about the implementation of the direct benefit transfer of subsidies as the government has still not settled the dues of the industry from the pilot project in 16 districts, the company's management said.
* ERA INFRA ENGINEERING: Informed the National Company Law Tribunal that it has jurisdiction to hear a insolvency proceedings case against the company despite winding-up petitions were pending in Delhi High Court.
* EXIDE INDUSTRIES: The board has decided to pay an interim dividend of 1.60 rupees per share.
* GVK POWER & INFRASTRUCTURE: Subsidiary GVK Mumbai International Airport has received a letter of award from the City and Industrial Development Corp of Maharashtra for developing a 160-bln-rupee airport project in Navi Mumbai.
* HDFC BANK: Would classify a corporate loan account under the 5:25 refinance scheme as a non-performing asset, according to communication received from the Reserve Bank of India.
* HINDUSTAN UNILEVER: The board has declared an interim dividend payment of 8 rupees apiece.
* HINDALCO INDUSTRIES: Has raised prices of primary aluminium products by up to 1%, effective Tuesday.
* HOUSING DEVELOPMENT FINANCE CORP: Raised a total of 13 bln rupees through Masala bonds, or rupeedenominated bonds issued overseas, in September, according to data on the website of the Reserve Bank of India.
* IDBI BANK: To recovers dues, the bank has invited initial bids for sale of seven windmills of Taurian Iron & Steel Co.
* IDFC: Has started work on exiting the infrastructure and private equity funds management business, IDFC Alternatives.
* IL&FS TRANSPORTATION NETWORK: Has secured approval of the National Highways Authority of India's to collect toll at the Banskopa toll plaza on the Barwa-Adda Expressway, at the West Bengal-Jharkhand border.
* INDIAN OIL CORP: As many as 10 firms under the oil ministry, including the company and OIL AND NATURAL GAS CORP, unveiled a 3.2 bln rupees fund to support startups in the oil and gas sector for a period of three years.
* INFOSYS: The company's Palo Alto office has now been termed as a 'listening post'.
* JAIPRAKASH ASSOCIATES: The Supreme Court has rejected the company's plea seeking to sell rights for toll collection at Yamuna Expressway to raise money the company needs to deposit with the court.
* JET AIRWAYS INDIA: A section of the airline's pilots is operating flights on "work to roster" basis to protest the management's alleged failure to clear their salary hike dues.
* MANGALORE REFINERY AND PETROCHEMICALS: Hopes its 3 mln tn per annum coker unit at southern India refinery will start full-scale operations in about three weeks.
* MINDTREE: Has maintained its sales growth guidance at high single digit for 2017-18 (Apr-Mar). The board has decided to pay a special dividend of 2 rupees per share and an interim dividend of 2 rupees per share.
* NLC INDIA: The government said it is likely to raise 7.5 bln rupees by selling 5% stake in the company through an offer for sale. The government's stake sale in the company has gotten off to a flying start with institutional investors putting in bids worth over 10 bln rupees.
* PI INDUSTRIES: The board has decided to pay an interim dividend of 1.5 rupees per share.
* PNB HOUSING FINANCE: Plans to raise 5 bln rupees through the issuance of bonds maturing in two years at a coupon of 7.44%, an official with the company said.
* QUESS CORP: Has acquired 70% stake in Vedang Cellular Services, for 400 mln rupees. Has acquired 51% stake in Trimax Smart Infraprojects, for 20 mln rupees.
* RELIANCE COMMUNICATIONS: To optimise its "2G and 3G footprint, and related infrastructure and human resources" to focus on its current 4G strategy, being conducted along a spectrum-sharing pact with Reliance Jio Infocomm, from Nov 30.
* RELIANCE INDUSTRIES: The company and BP Plc have finalised plans to develop all the gas fields in the KG-D6 Block.
* SARDA ENERGY & MINERALS: Will shut down one of its power-generating units to replace a turbine machine with a new turbine supplied by BHARAT HEAVY ELECTRICALS.
* WIPRO: Completed acquisition of Cooper Software on Tuesday.
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* BHARAT PETROLEUM CORP: To raise $500 mln to partly fund its planned capital expenditure of 80 bln rupees for this financial year.
* CHAMBAL FERTILISERS AND CHEMICALS: The company is cautious about the implementation of the direct benefit transfer of subsidies as the government has still not settled the dues of the industry from the pilot project in 16 districts, the company's management said.
* ERA INFRA ENGINEERING: Informed the National Company Law Tribunal that it has jurisdiction to hear a insolvency proceedings case against the company despite winding-up petitions were pending in Delhi High Court.
* EXIDE INDUSTRIES: The board has decided to pay an interim dividend of 1.60 rupees per share.
* GVK POWER & INFRASTRUCTURE: Subsidiary GVK Mumbai International Airport has received a letter of award from the City and Industrial Development Corp of Maharashtra for developing a 160-bln-rupee airport project in Navi Mumbai.
* HDFC BANK: Would classify a corporate loan account under the 5:25 refinance scheme as a non-performing asset, according to communication received from the Reserve Bank of India.
* HINDUSTAN UNILEVER: The board has declared an interim dividend payment of 8 rupees apiece.
* HINDALCO INDUSTRIES: Has raised prices of primary aluminium products by up to 1%, effective Tuesday.
* HOUSING DEVELOPMENT FINANCE CORP: Raised a total of 13 bln rupees through Masala bonds, or rupeedenominated bonds issued overseas, in September, according to data on the website of the Reserve Bank of India.
* IDBI BANK: To recovers dues, the bank has invited initial bids for sale of seven windmills of Taurian Iron & Steel Co.
* IDFC: Has started work on exiting the infrastructure and private equity funds management business, IDFC Alternatives.
* IL&FS TRANSPORTATION NETWORK: Has secured approval of the National Highways Authority of India's to collect toll at the Banskopa toll plaza on the Barwa-Adda Expressway, at the West Bengal-Jharkhand border.
* INDIAN OIL CORP: As many as 10 firms under the oil ministry, including the company and OIL AND NATURAL GAS CORP, unveiled a 3.2 bln rupees fund to support startups in the oil and gas sector for a period of three years.
* INFOSYS: The company's Palo Alto office has now been termed as a 'listening post'.
* JAIPRAKASH ASSOCIATES: The Supreme Court has rejected the company's plea seeking to sell rights for toll collection at Yamuna Expressway to raise money the company needs to deposit with the court.
* JET AIRWAYS INDIA: A section of the airline's pilots is operating flights on "work to roster" basis to protest the management's alleged failure to clear their salary hike dues.
* MANGALORE REFINERY AND PETROCHEMICALS: Hopes its 3 mln tn per annum coker unit at southern India refinery will start full-scale operations in about three weeks.
* MINDTREE: Has maintained its sales growth guidance at high single digit for 2017-18 (Apr-Mar). The board has decided to pay a special dividend of 2 rupees per share and an interim dividend of 2 rupees per share.
* NLC INDIA: The government said it is likely to raise 7.5 bln rupees by selling 5% stake in the company through an offer for sale. The government's stake sale in the company has gotten off to a flying start with institutional investors putting in bids worth over 10 bln rupees.
* PI INDUSTRIES: The board has decided to pay an interim dividend of 1.5 rupees per share.
* PNB HOUSING FINANCE: Plans to raise 5 bln rupees through the issuance of bonds maturing in two years at a coupon of 7.44%, an official with the company said.
* QUESS CORP: Has acquired 70% stake in Vedang Cellular Services, for 400 mln rupees. Has acquired 51% stake in Trimax Smart Infraprojects, for 20 mln rupees.
* RELIANCE COMMUNICATIONS: To optimise its "2G and 3G footprint, and related infrastructure and human resources" to focus on its current 4G strategy, being conducted along a spectrum-sharing pact with Reliance Jio Infocomm, from Nov 30.
* RELIANCE INDUSTRIES: The company and BP Plc have finalised plans to develop all the gas fields in the KG-D6 Block.
* SARDA ENERGY & MINERALS: Will shut down one of its power-generating units to replace a turbine machine with a new turbine supplied by BHARAT HEAVY ELECTRICALS.
* WIPRO: Completed acquisition of Cooper Software on Tuesday.
