Daily Stock News Today – 30.10.2017
* ANDHRA SUGARS: The board has taken a decision that there will be no crushing operations at sugar unit, Tanuku in Andhra Pradesh for the season 2017-18 in view of the unviable operations.
* ARIHANT SUPERSTRUCTURES: To invest about 40 bln rupees over the next six years on construction of its 15 ongoing projects in Navi Mumbai and Jodhpur.
* ASHOK LEYLAND: Is looking at investing 4-5 bln rupees in its electric vehicle business over the next three to five years, Managing director Vinod Dasari said. Has started using coastal shipping services to export its commercial vehicles to Bangladesh.
* AU SMALL FINANCE BANK: Has signed a three-year pact with Small Industries Development Bank of India to fund term loan proposals worth 2.5-20.0 mln rupees related to micro, small and medium enterprises.
* BAJAJ HINDUSTHAN SUGAR: Board has approved the conversion of its loans from lenders into optionally convertible debentures or optionally convertible preference shares, under the Reserve Bank of India's scheme for sustainable structuring of stressed assets.
* BHARTI AIRTEL: LPG subsidy recipients who had Airtel Payments Bank accounts were not getting their share of subsidy for the past few weeks, according to the Ministry of Petroleum and Natural Gas.
* CADILA HEALTHCARE: Has received an approval from the US Food and Drug Administration to market Tamoxifen Citrate tablets USP in 10-mg, 20-mg strength.
* CLARIANT CHEMICALS INDIA: Its holding company, and Huntsman Corp have abandoned plans of a merger due to uncertainty of securing the approval of two-thirds of the shareholders of the company.
* DHANLAXMI BANK: To cut the interest rate on savings accounts with balance of up to 5 mln rupees by 50 basis points to 3.5%, effective Nov 27.
* DR REDDY'S LABORATORIES: A German government's drug regulating agency, which audited one of the company's manufacturing facilities, found "dirty rooms and equipment", among other violations.
* HDFC BANK: Has been given the green signal for setting up a call centre-cum-residential training centre in Mohali, Punjab, at a cost of 1.94 bln rupees.
* HOUSING DEVELOPMENT & INFRASTRUCTURE: ANDHRA BANK has dragged the company to the National Company Law Tribunal in an insolvency petition.
* HOUSING DEVELOPMENT FINANCE CORP: Is looking to list its mutual fund unit in 2018 and is also evaluating a plan to start a distressed asset fund, Chairman Deepak Parekh said.
* HINDUSTAN FOODS: The company is in the process of acquiring Reckitt Benckiser's Mortein unit at Jammu that manufactures pest products, on a slump sale basis.
* IDFC BANK: The bank and Shriram Capital are set to call off merger talks as both sides have failed to arrive at an acceptable valuation after four months of negotiations and regulatory misgivings.
* INFOSYS: The company, which is the infrastructure provider for information technology network of the goods and services tax, has been asked to make the system user-friendly and deploy more staff for resolving issues, Bihar Deputy Chief Minister Sushil Kumar Modi has said. The company will hold another round of outreach to shareholders over the next few weeks under the chairmanship of Nandan Nilekani and expects to have a complete report by January next year.
* INDIABULLS HOUSING FINANCE: Has settled a case pertaining to shareholding disclosure lapse with the Securities and Exchange Board of India after paying 1.4 mln rupees towards settlement fees.
* INDIABULLS REAL ESTATE: Through its wholly-owned subsidiary has received all the 737.3 mln units of its Singapore-based Indiabulls Properties Investment Trust from the Farallon Group.
* INDIAN OIL CORP: Has delivered liquefied petroleum gas through its pipeline in Odisha's Balasore district from the company's refinery at Paradip.
* INOX LEISURE: Has introduced an augmented reality experience at its multiplex theatres at R-City Mall, Ghatkopar, and CR2 Mall, Nariman Point, in Mumbai.
* JET AIRWAYS (INDIA): Has phased out 30 expatriate pilots since April after the National Aviator's Guild sought removal of all such "expensive" pilots.
* KRIDHAN INFRA: Has signed a definitive share purchase agreement with institutional and other investors of Vijay Nirman Co to acquire 36.6% stake in the latter.
* LARSEN & TOUBRO: Launched the first of seven offshore patrol vessels for the Indian coast guard.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: Has sold 5% stake in subsidiary Mahindra Insurance Brokers to Inclusion Resources, a minority investor of the company, for 650 mln rupees.
* MARUTI SUZUKI INDIA: Has earmarked 10 bln rupees in the current fiscal to buy land parcels for new dealerships.
* NALCO: Government has offered 8.90 mln shares of face value of 5 rupees each to eligible employees of the company through an offer for sale at 66.31 rupees per share, a 5% discount on the offer for sale price of 69.80 rupees.
* NAVIN FLUORINE INTERNATIONAL: The board has decided to pay an interim dividend of 3.40 rupees per share.
* OIL & NATURAL GAS CORP: The company held its board meeting on a Mumbai High North production platform, off the Mumbai coast, to indicate the importance of offshore projects in its growth plan.
* PUNJAB NATIONAL BANK: Has likely scrapped plans to raise at least 7.5 bln rupees through the issuance of Basel-III compliant bonds following a technical issue on the bidding platform of the BSE.
* RELIANCE INDUSTRIES: The company and its partners, BP and Niko Resources, have so far paid only $82 mln to the gas pool account.
* RURAL ELECTRIFICATION CORP: Is going to raise at least 5 bln rupees through bonds maturing in December 2020.
* STATE BANK OF INDIA: Has written to the Odisha government seeking equity participation in the stressed firm, BHUSHAN STEEL. Prior to the letter from the bank, the steel firm had also written to the state government for equity support of nearly 26%.
* STRIDES SHASUN: Kenya-based subsidiary Universal Corp has received the good manufacturing practice status for its facility from the World Health Organization.
* SUNTECK REALTY: Closed the qualified institutional placement issue and fixed the issue price at 322 rupees per share. The board has approved issuing 4.67 mln shares at 323.50 rupees a share on preferential basis, aggregating to 1.51 bln rupees, to promoters and promoter groups.
* TATA MOTORS: Arm Jaguar Land Rover expects sales of over 4,500 units this fiscal year and an increase its market share to around 14%.
* VEDANTA: The company and the Adani Group may bid for the Bunder diamond project in Madhya Pradesh from which global giant Rio Tinto exited this year. Chairman Anil Agarwal has lined up a 100-bln-rupee investment plan for Jharkhand, which includes an iron ore mining project and an integrated steel plant.
CLICK HERE
*********************************************************************************
* ARIHANT SUPERSTRUCTURES: To invest about 40 bln rupees over the next six years on construction of its 15 ongoing projects in Navi Mumbai and Jodhpur.
* ASHOK LEYLAND: Is looking at investing 4-5 bln rupees in its electric vehicle business over the next three to five years, Managing director Vinod Dasari said. Has started using coastal shipping services to export its commercial vehicles to Bangladesh.
* AU SMALL FINANCE BANK: Has signed a three-year pact with Small Industries Development Bank of India to fund term loan proposals worth 2.5-20.0 mln rupees related to micro, small and medium enterprises.
* BAJAJ HINDUSTHAN SUGAR: Board has approved the conversion of its loans from lenders into optionally convertible debentures or optionally convertible preference shares, under the Reserve Bank of India's scheme for sustainable structuring of stressed assets.
* BHARTI AIRTEL: LPG subsidy recipients who had Airtel Payments Bank accounts were not getting their share of subsidy for the past few weeks, according to the Ministry of Petroleum and Natural Gas.
* CADILA HEALTHCARE: Has received an approval from the US Food and Drug Administration to market Tamoxifen Citrate tablets USP in 10-mg, 20-mg strength.
* CLARIANT CHEMICALS INDIA: Its holding company, and Huntsman Corp have abandoned plans of a merger due to uncertainty of securing the approval of two-thirds of the shareholders of the company.
* DHANLAXMI BANK: To cut the interest rate on savings accounts with balance of up to 5 mln rupees by 50 basis points to 3.5%, effective Nov 27.
* DR REDDY'S LABORATORIES: A German government's drug regulating agency, which audited one of the company's manufacturing facilities, found "dirty rooms and equipment", among other violations.
* HDFC BANK: Has been given the green signal for setting up a call centre-cum-residential training centre in Mohali, Punjab, at a cost of 1.94 bln rupees.
* HOUSING DEVELOPMENT & INFRASTRUCTURE: ANDHRA BANK has dragged the company to the National Company Law Tribunal in an insolvency petition.
* HOUSING DEVELOPMENT FINANCE CORP: Is looking to list its mutual fund unit in 2018 and is also evaluating a plan to start a distressed asset fund, Chairman Deepak Parekh said.
* HINDUSTAN FOODS: The company is in the process of acquiring Reckitt Benckiser's Mortein unit at Jammu that manufactures pest products, on a slump sale basis.
* IDFC BANK: The bank and Shriram Capital are set to call off merger talks as both sides have failed to arrive at an acceptable valuation after four months of negotiations and regulatory misgivings.
* INFOSYS: The company, which is the infrastructure provider for information technology network of the goods and services tax, has been asked to make the system user-friendly and deploy more staff for resolving issues, Bihar Deputy Chief Minister Sushil Kumar Modi has said. The company will hold another round of outreach to shareholders over the next few weeks under the chairmanship of Nandan Nilekani and expects to have a complete report by January next year.
* INDIABULLS HOUSING FINANCE: Has settled a case pertaining to shareholding disclosure lapse with the Securities and Exchange Board of India after paying 1.4 mln rupees towards settlement fees.
* INDIABULLS REAL ESTATE: Through its wholly-owned subsidiary has received all the 737.3 mln units of its Singapore-based Indiabulls Properties Investment Trust from the Farallon Group.
* INDIAN OIL CORP: Has delivered liquefied petroleum gas through its pipeline in Odisha's Balasore district from the company's refinery at Paradip.
* INOX LEISURE: Has introduced an augmented reality experience at its multiplex theatres at R-City Mall, Ghatkopar, and CR2 Mall, Nariman Point, in Mumbai.
* JET AIRWAYS (INDIA): Has phased out 30 expatriate pilots since April after the National Aviator's Guild sought removal of all such "expensive" pilots.
* KRIDHAN INFRA: Has signed a definitive share purchase agreement with institutional and other investors of Vijay Nirman Co to acquire 36.6% stake in the latter.
* LARSEN & TOUBRO: Launched the first of seven offshore patrol vessels for the Indian coast guard.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: Has sold 5% stake in subsidiary Mahindra Insurance Brokers to Inclusion Resources, a minority investor of the company, for 650 mln rupees.
* MARUTI SUZUKI INDIA: Has earmarked 10 bln rupees in the current fiscal to buy land parcels for new dealerships.
* NALCO: Government has offered 8.90 mln shares of face value of 5 rupees each to eligible employees of the company through an offer for sale at 66.31 rupees per share, a 5% discount on the offer for sale price of 69.80 rupees.
* NAVIN FLUORINE INTERNATIONAL: The board has decided to pay an interim dividend of 3.40 rupees per share.
* OIL & NATURAL GAS CORP: The company held its board meeting on a Mumbai High North production platform, off the Mumbai coast, to indicate the importance of offshore projects in its growth plan.
* PUNJAB NATIONAL BANK: Has likely scrapped plans to raise at least 7.5 bln rupees through the issuance of Basel-III compliant bonds following a technical issue on the bidding platform of the BSE.
* RELIANCE INDUSTRIES: The company and its partners, BP and Niko Resources, have so far paid only $82 mln to the gas pool account.
* RURAL ELECTRIFICATION CORP: Is going to raise at least 5 bln rupees through bonds maturing in December 2020.
* STATE BANK OF INDIA: Has written to the Odisha government seeking equity participation in the stressed firm, BHUSHAN STEEL. Prior to the letter from the bank, the steel firm had also written to the state government for equity support of nearly 26%.
* STRIDES SHASUN: Kenya-based subsidiary Universal Corp has received the good manufacturing practice status for its facility from the World Health Organization.
* SUNTECK REALTY: Closed the qualified institutional placement issue and fixed the issue price at 322 rupees per share. The board has approved issuing 4.67 mln shares at 323.50 rupees a share on preferential basis, aggregating to 1.51 bln rupees, to promoters and promoter groups.
* TATA MOTORS: Arm Jaguar Land Rover expects sales of over 4,500 units this fiscal year and an increase its market share to around 14%.
* VEDANTA: The company and the Adani Group may bid for the Bunder diamond project in Madhya Pradesh from which global giant Rio Tinto exited this year. Chairman Anil Agarwal has lined up a 100-bln-rupee investment plan for Jharkhand, which includes an iron ore mining project and an integrated steel plant.
