Today Stock News – 18.01.2018
* ADANI PORTS AND SPECIAL ECONOMIC ZONE: The Adani Group has expressed interest in setting up a port in West Bengal.
* ADANI POWER: Board has approved a plan to set up a 1,600 MW ultra supercritical thermal power plant at Godda in Jharkhand, at an estimated cost of 134.5 bln rupees.
* AXIS BANK: Axis Bank will increase its marginal cost of funds-based lending rates by 5 basis points across tenures from Thursday.
* BHARTI AIRTEL: Added 576,575 mobile users in December.
* BHUSHAN STEEL: Japanese steel major JFE is taking the lead role in the consortium, comprising JSW STEEL and Bain-Piramal, to make an aggressive bid for the company next week.
* BINANI INDUSTRIES: JSW Group has emerged as the highest bidder for arm Binani Cement, exceeding submissions from Rakesh Jhunjhunwala and ULTRATECH CEMEMT.
* DR REDDY'S LABORATORIES: Has recalled a single lot of Docetaxel injection vials, used for treatment of breast cancer.
* EMAMI PAPER MILLS: L&T Mutual Fund bought 3.28 mln shares or 5.42% stake in the company at 225 rupees each, through multiple block deals on BSE.
* EROS INTERNATIONAL MEDIA: Parent Eros International Plc's on-demand entertainment network, Eros Now, has renewed its platform integration partnership with Reliance Jio Infocomm.
* IDEA CELLULAR: The telecom operator added 2.43 mln users during December. The company and Vodafone India's merged entity are likely to get a bunch of stock options, which may include restricted stock units and preferential shares besides regular employee stock options.
* INDOWIND ENERGY: The board has allotted 30 mln warrants at an issue price of 14.25 rupees apiece on preferential basis, which will be converted into shares.
* JINDAL STEEL & POWER: Lenders have sought the Reserve Bank of India's permission to allow them to upgrade the company's loan account to standard from its current non-performing asset category.
* MAHINDRA & MAHINDRA: Has offered a minimum buyback value of 400,000 rupees for its Bolero Pik-Up sport utility vehicle after four years of purchase, and free maintenance for two years.
* MAJESCO: US-based arm announced Apollo Munich Health Insurance will use the company's digital platform to reduce time taken to issue a policy to 5-10 minutes from 10-15 days.
* OIL & NATURAL GAS CORP: Neelam, the company's oil field, was forced to shut down oil wells after a LARSEN & TOUBRO-owned barge ripped two gas lines and dragged two gas lift lines 60 mtr away.
* PITTI LAMINATIONS: On Tuesday, the company commenced commercial production at its new manufacturing facility at Gangapur in Aurangabad.
* SREI INFRASTRUCTURE: Board has approved raising up to 100 bln rupees through the public and private issue of non-convertible debentures in one or more tranches in 2018-19.
* STATE BANK OF INDIA: The executive committee of the central board of the bank approved issuance of long-term bonds worth 200 bln rupees.
* TATA CONSULTANCY SERVICES: Announced expansion of a strategic partnership with Shure Inc to establish a global development centre. A US court has turned down the company's appeal to dismiss the complaint or prevent plaintiff from making further complaints against the company in an unfair employment practices case.
* TATA POWER CO: To convene shareholders' meeting on Feb 19 to seek approval for the proposed amalgamation of four group entities with the company.
* TILAKNAGAR INDUSTRIES: National Company Law Tribunal had extended corporate insolvency resolution process against wholly-owned subsidiary Prag Distillery by 90 days, with effect from Jan 10.
* UJJIVAN FINANCIAL SERVICES: Arm Ujjivan Small Finance Bank has launched a tax saver fixed deposit scheme across all its branches.
* VARUN BEVERAGES: Board has approved acquiring franchisee rights for PepsiCo India in Bihar.
* VEDANTA: Arm Vedanta Resources Plc is considering a bid for Aleris Corp.
* VIDEOCON INDUSTRIES: Lenders led by the STATE BANK OF INDIA may take the step-down subsidiaries of the company to bankruptcy court to arrive at a comprehensive resolution plan.
* YES BANK: Has committed $5 bln towards solar projects in India.
CLICK HERE
*********************************************************************************
* ADANI POWER: Board has approved a plan to set up a 1,600 MW ultra supercritical thermal power plant at Godda in Jharkhand, at an estimated cost of 134.5 bln rupees.
* AXIS BANK: Axis Bank will increase its marginal cost of funds-based lending rates by 5 basis points across tenures from Thursday.
* BHARTI AIRTEL: Added 576,575 mobile users in December.
* BHUSHAN STEEL: Japanese steel major JFE is taking the lead role in the consortium, comprising JSW STEEL and Bain-Piramal, to make an aggressive bid for the company next week.
* BINANI INDUSTRIES: JSW Group has emerged as the highest bidder for arm Binani Cement, exceeding submissions from Rakesh Jhunjhunwala and ULTRATECH CEMEMT.
* DR REDDY'S LABORATORIES: Has recalled a single lot of Docetaxel injection vials, used for treatment of breast cancer.
* EMAMI PAPER MILLS: L&T Mutual Fund bought 3.28 mln shares or 5.42% stake in the company at 225 rupees each, through multiple block deals on BSE.
* EROS INTERNATIONAL MEDIA: Parent Eros International Plc's on-demand entertainment network, Eros Now, has renewed its platform integration partnership with Reliance Jio Infocomm.
* IDEA CELLULAR: The telecom operator added 2.43 mln users during December. The company and Vodafone India's merged entity are likely to get a bunch of stock options, which may include restricted stock units and preferential shares besides regular employee stock options.
* INDOWIND ENERGY: The board has allotted 30 mln warrants at an issue price of 14.25 rupees apiece on preferential basis, which will be converted into shares.
* JINDAL STEEL & POWER: Lenders have sought the Reserve Bank of India's permission to allow them to upgrade the company's loan account to standard from its current non-performing asset category.
* MAHINDRA & MAHINDRA: Has offered a minimum buyback value of 400,000 rupees for its Bolero Pik-Up sport utility vehicle after four years of purchase, and free maintenance for two years.
* MAJESCO: US-based arm announced Apollo Munich Health Insurance will use the company's digital platform to reduce time taken to issue a policy to 5-10 minutes from 10-15 days.
* OIL & NATURAL GAS CORP: Neelam, the company's oil field, was forced to shut down oil wells after a LARSEN & TOUBRO-owned barge ripped two gas lines and dragged two gas lift lines 60 mtr away.
* PITTI LAMINATIONS: On Tuesday, the company commenced commercial production at its new manufacturing facility at Gangapur in Aurangabad.
* SREI INFRASTRUCTURE: Board has approved raising up to 100 bln rupees through the public and private issue of non-convertible debentures in one or more tranches in 2018-19.
* STATE BANK OF INDIA: The executive committee of the central board of the bank approved issuance of long-term bonds worth 200 bln rupees.
* TATA CONSULTANCY SERVICES: Announced expansion of a strategic partnership with Shure Inc to establish a global development centre. A US court has turned down the company's appeal to dismiss the complaint or prevent plaintiff from making further complaints against the company in an unfair employment practices case.
* TATA POWER CO: To convene shareholders' meeting on Feb 19 to seek approval for the proposed amalgamation of four group entities with the company.
* TILAKNAGAR INDUSTRIES: National Company Law Tribunal had extended corporate insolvency resolution process against wholly-owned subsidiary Prag Distillery by 90 days, with effect from Jan 10.
* UJJIVAN FINANCIAL SERVICES: Arm Ujjivan Small Finance Bank has launched a tax saver fixed deposit scheme across all its branches.
* VARUN BEVERAGES: Board has approved acquiring franchisee rights for PepsiCo India in Bihar.
* VEDANTA: Arm Vedanta Resources Plc is considering a bid for Aleris Corp.
* VIDEOCON INDUSTRIES: Lenders led by the STATE BANK OF INDIA may take the step-down subsidiaries of the company to bankruptcy court to arrive at a comprehensive resolution plan.
* YES BANK: Has committed $5 bln towards solar projects in India.
