Today Stock News – 31.01.2018
* ADANI POWER: Has sought approval from the commerce ministry for setting up of a special economic zone for the power sector in Jharkhand, entailing investment of 150.02 bln rupees.
* ALLAHABAD BANK: To get 15 bln rupees of recapitalisation bonds.
* AMBER ENTERPRISES INDIA: Kotak Funds-India Midcap bought 253,290 shares of the company at 1,149.15 rupees a share in a bulk deal on the National Stock Exchange.
* ANDHRA BANK: To get 18.90 bln rupees of recapitalisation bonds.
* APOLLO PIPES: Board has approved a plan to set up a greenfield facility in Bengaluru by 2018-19 (Apr-Mar) with an initial capacity of 25,000 mtpa, which will be expanded to 50,000 mtpa by 2019-20, at an investment of 750 mln rupees.
* AXIS BANK: Has raised its interest rates by 20-70 basis points on some bulk deposits of 10 mln rupees and above, effective from Tuesday, according to data on the bank's website.
* BAJAJ AUTO: A worker union at the company's Akurdi and Chakan plants near Pune started an indefinite hunger strike on Monday, mainly to demand a wage Hike.
* BANK OF BARODA: Life Insurance Corp of India sold 46.65 mln shares, or 2.03% stake in the bank in two months ended Jan 29 through open market sale, the bank informed stock exchanges. To get 53.75 bln rupees of recapitalisation bond.
* BANK OF INDIA: Appointed Kollegal V. Raghavendra as chief financial officer, effective Thursday. To get 69.75 bln rupees of recapitalisation bonds. Has recovered 30 bln rupees in the last month by invoking standby letter of credit and guarantees of defaulters.
* BANK OF MAHARASHTRA: To get 25.23 bln rupees of special bonds.
* BHARTI AIRTEL: Said it would increase its investment on network expansion by 50% to 240 bln rupees in 2018-19 (Apr-Mar).
* BHUSHAN STEEL: Edelweiss group-owned EARC Trust has sold 8.52 mln shares or 3.76% stake in the company through two separate bulk deals on the National Stock Exchange and the BSE.
* BLS INTERNATIONAL SERVICES: Has received notices for the termination of the master service agreement from the Punjab government.
* CARE RATINGS: The board has recommended to pay 6 rupees per share interim dividend.
* CENTRAL BANK: To get 48.35 bln rupees of recapitalisation bonds.
* CHOLAMANDALAM INVESTMENT AND FINANCE CO: The board has recommended to pay 4.5 rupees per share interim dividend.
* CORPORATION BANK: To get 21.87 bln rupees of special bonds.
* DABUR INDIA: Has taken rival MARICO to the Delhi High Court for allegedly violating trademark and copyright laws by comparing their hair oil products and denigrating its Dabur Amla in a print advertisement.
* DENA BANK: To get 28.02 bln rupees of special bonds.
* GODREJ CONSUMER PRODUCTS: The board has recommended to pay 1 rupee per share interim dividend.
* HINDALCO INDUSTRIES: Arm Novelis Inc will supply premium aluminium to Jeep for its Wrangler model, which will reduce the car's weight by 200 pounds and increase gas mileage by three miles per gallon.
* IDBI BANK: To get 78.81 bln rupees of special bonds.
* IDEA CELLULAR: Has partnered with Karbonn to offer cashbacks worth 1,500 rupees and 1,000 rupees on smartphones and feature phones, respectively.
* IDFC BANK: To save the merger deal between the bank and Capital First, the bank will make an open-market purchase of equity shares.
* INDIAN HOTELS CO: Might not have been the first-mover to the digital game in hospitality but a concerted push orchestrated over the past year has led to a 275 boost in its online revenue, 30% increase in room bookings, as well as additional dining reservations of 25,000 tables over the past nine months.
* INDIAN OVERSEAS BANK: At an extraordinary general meeting, the bank secured the approval of its shareholders for writing off the bank's accumulated losses of 69.79 bln rupees as of Mar 31, against the balance amounting to 76.50 bln rupees available in the share premium account. To get 41.32 bln rupees of special bonds. (Cogencis)
* INTERGLOBE AVIATION: The board seeks to appoint Wolfgang Prock-Schauer as the chief operating officer of the company, subject to necessary approvals.
* JM FINANCIAL: Qualified institutional placement of shares opened on Tuesday. Floor price for the qualified institutional placement was set at 161.44 rupees per share.
* MAHINDRA & MAHINDRA: Acquired 26% stake in M.I.T.R.A. Agro Equipments Pvt Ltd for 80 mln rupees. Plans to start a business that will operate a fleet of electric cabs and turn its electric vehicle manufacturing unit into a supplier of parts to electric vehicle makers.
* MAHINDRA LIFESPACE DEVELOPERS: The board has redesignated Sangeeta Prasad as chief executive officer with effect from Apr 1.
* MINDA CORP: The Minda group intends to position itself as a major supplier of most parts for electric cars and has invested 550-600 mln rupees in a new technology centre in Pune that will work on developing these components, Spark Minda Group Chief Technology Officer Dinesh S. said.
* NCC: The company closed its qualified institutional placement and has set an issue price of 123 rupees a share.
* NEWGEN SOFTWARE TECHNOLOGIES: Malabar India Fund bought 362,371 shares of the company at 245.39 rupees each in a bulk deal on the National Stock Exchange.
* NTPC: Has set up its medium-term note programme worth $6 bln and listed it on India International Exchange at International Financial Services Centre in Gujarat International Finance Tec-City.
* ORIENTAL BANK: To get 35.71 bln rupees of special bonds.
* PIRAMAL ENTERPRISES: Plans to bid for debt-laden companies across six to seven sectors including auto ancillary, cement and textiles that are currently undergoing insolvency proceedings, group chairman Ajay Piramal said.
* PUNJAB NATIONAL BANK: To get 54.73 bln rupees of special bonds.
* PUNJAB & SIND BANK: To get 7.85 bln rupees of special bonds.
* RELIANCE INDUSTRIES: Arm Reliance Jio Infocomm committed an investment of 500 bln
Reliance Retail is planning an ultra low-priced Android Go OS-based 4G VoLTE smartphone under the LYF brand in partnership with Taiwanese chipset maker MediaTek.
* RELIANCE NAVAL AND ENGINEERING: The board at its meeting approved and modified refinancing scheme with the lenders of the company and consequent issuance of compulsorily convertible debentures, compulsorily redeemable preference shares, and secured non-convertible debentures.
* RELIGARE ENTERPRISES: Denied the allegations of siphoning off funds against promoters--Malvinder Singh and Shivender Singh--made in suits filed by private equity investors before the Delhi High Court. IDBI Trusteeship Services has sold 2 mln shares or 1.1% stake in the company at 45.39 rupees per share through a bulk deal on the National Stock Exchange.
* SHREE RENUKA SUGARS: Board has approved the allotment of up to 500 mln compulsorily convertible preference shares and up to 513.21 mln equity shares at 16.27 rupees each on preferential basis to lenders.
* SPICEJET: Chairman Ajay Singh has ruled his airline out of the race for the privatization-bound Air India saying, "we are too small to bid for a large airline like the national carrier."
* STATE BANK OF INDIA: To get 88.00 bln rupees of special bonds. Has signed an information utility agreement with National E-Governance Services to provide financial and security information according to guidelines by the Reserve Bank of India. Will provide credit cards to the farmers through its credit card arm SBI Cards and Payment Services, a joint venture company between the bank and GE Capital, Chairman Rajnish Kumar said.
* SYNDICATE BANK: To get 28.39 bln rupees of special bonds.
* TATA GLOBAL BEVERAGE: At least two large tea producers have evinced interest in acquiring the company's 41% stake in Amalgamated Plantations.
* TECHNO ELECTRIC AND ENGINEERING CO: SBI Mutual Fund has bought 2.19 mln shares or 1.95% stake in the company at 384.97 rupees a share in a bulk deal on the National Stock Exchange.
* TVS MOTOR CO: Will launch one motorcycle or a scooter next week, and another by March, the management said in a post-earnings conference call.
* UCO Bank: to get 51.32 bln rupees of special bonds.
* USHA MARTIN: In the first signs of rapprochement amid a pitched battle for the control of the company, Rajeev Jhawar, one of the promoters, has said he is open to a settlement.
* UNION BANK OF INDIA: The board will on Friday consider raising funds through public issue of shares, rights issue, private placement of share, preferential allotment to the government or issuance of additional tier-I and tier-II bonds. To get 45.24 bln rupees of special bonds.
* UNITED BANK OF INDIA: Board of directors approved issuance and allotment of shares worth up to 30 bln rupees to the government on a preferential basis. To get 26.34 bln rupees of special bonds.
* VIDEOCON INDUSTRIES: Has moved the Bombay High Court against STATE BANK OF
INDIA and the Reserve Bank of India and the Union government, appealing to the court to stay the lender's move to send the company to the National Corporate Law Tribunal under the Insolvency and Bankruptcy Code.
* VIJAYA BANK: To get 12.77 bln rupees of special bonds.
* WELSPUN ENTERPRISES: Has acquired a 49% stake in a project for four laning of a section of National Highway-6 in Maharashtra for 83.3 mln rupees from Vishvaraj group.
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* ALLAHABAD BANK: To get 15 bln rupees of recapitalisation bonds.
* AMBER ENTERPRISES INDIA: Kotak Funds-India Midcap bought 253,290 shares of the company at 1,149.15 rupees a share in a bulk deal on the National Stock Exchange.
* ANDHRA BANK: To get 18.90 bln rupees of recapitalisation bonds.
* APOLLO PIPES: Board has approved a plan to set up a greenfield facility in Bengaluru by 2018-19 (Apr-Mar) with an initial capacity of 25,000 mtpa, which will be expanded to 50,000 mtpa by 2019-20, at an investment of 750 mln rupees.
* AXIS BANK: Has raised its interest rates by 20-70 basis points on some bulk deposits of 10 mln rupees and above, effective from Tuesday, according to data on the bank's website.
* BAJAJ AUTO: A worker union at the company's Akurdi and Chakan plants near Pune started an indefinite hunger strike on Monday, mainly to demand a wage Hike.
* BANK OF BARODA: Life Insurance Corp of India sold 46.65 mln shares, or 2.03% stake in the bank in two months ended Jan 29 through open market sale, the bank informed stock exchanges. To get 53.75 bln rupees of recapitalisation bond.
* BANK OF INDIA: Appointed Kollegal V. Raghavendra as chief financial officer, effective Thursday. To get 69.75 bln rupees of recapitalisation bonds. Has recovered 30 bln rupees in the last month by invoking standby letter of credit and guarantees of defaulters.
* BANK OF MAHARASHTRA: To get 25.23 bln rupees of special bonds.
* BHARTI AIRTEL: Said it would increase its investment on network expansion by 50% to 240 bln rupees in 2018-19 (Apr-Mar).
* BHUSHAN STEEL: Edelweiss group-owned EARC Trust has sold 8.52 mln shares or 3.76% stake in the company through two separate bulk deals on the National Stock Exchange and the BSE.
* BLS INTERNATIONAL SERVICES: Has received notices for the termination of the master service agreement from the Punjab government.
* CARE RATINGS: The board has recommended to pay 6 rupees per share interim dividend.
* CENTRAL BANK: To get 48.35 bln rupees of recapitalisation bonds.
* CHOLAMANDALAM INVESTMENT AND FINANCE CO: The board has recommended to pay 4.5 rupees per share interim dividend.
* CORPORATION BANK: To get 21.87 bln rupees of special bonds.
* DABUR INDIA: Has taken rival MARICO to the Delhi High Court for allegedly violating trademark and copyright laws by comparing their hair oil products and denigrating its Dabur Amla in a print advertisement.
* DENA BANK: To get 28.02 bln rupees of special bonds.
* GODREJ CONSUMER PRODUCTS: The board has recommended to pay 1 rupee per share interim dividend.
* HINDALCO INDUSTRIES: Arm Novelis Inc will supply premium aluminium to Jeep for its Wrangler model, which will reduce the car's weight by 200 pounds and increase gas mileage by three miles per gallon.
* IDBI BANK: To get 78.81 bln rupees of special bonds.
* IDEA CELLULAR: Has partnered with Karbonn to offer cashbacks worth 1,500 rupees and 1,000 rupees on smartphones and feature phones, respectively.
* IDFC BANK: To save the merger deal between the bank and Capital First, the bank will make an open-market purchase of equity shares.
* INDIAN HOTELS CO: Might not have been the first-mover to the digital game in hospitality but a concerted push orchestrated over the past year has led to a 275 boost in its online revenue, 30% increase in room bookings, as well as additional dining reservations of 25,000 tables over the past nine months.
* INDIAN OVERSEAS BANK: At an extraordinary general meeting, the bank secured the approval of its shareholders for writing off the bank's accumulated losses of 69.79 bln rupees as of Mar 31, against the balance amounting to 76.50 bln rupees available in the share premium account. To get 41.32 bln rupees of special bonds. (Cogencis)
* INTERGLOBE AVIATION: The board seeks to appoint Wolfgang Prock-Schauer as the chief operating officer of the company, subject to necessary approvals.
* JM FINANCIAL: Qualified institutional placement of shares opened on Tuesday. Floor price for the qualified institutional placement was set at 161.44 rupees per share.
* MAHINDRA & MAHINDRA: Acquired 26% stake in M.I.T.R.A. Agro Equipments Pvt Ltd for 80 mln rupees. Plans to start a business that will operate a fleet of electric cabs and turn its electric vehicle manufacturing unit into a supplier of parts to electric vehicle makers.
* MAHINDRA LIFESPACE DEVELOPERS: The board has redesignated Sangeeta Prasad as chief executive officer with effect from Apr 1.
* MINDA CORP: The Minda group intends to position itself as a major supplier of most parts for electric cars and has invested 550-600 mln rupees in a new technology centre in Pune that will work on developing these components, Spark Minda Group Chief Technology Officer Dinesh S. said.
* NCC: The company closed its qualified institutional placement and has set an issue price of 123 rupees a share.
* NEWGEN SOFTWARE TECHNOLOGIES: Malabar India Fund bought 362,371 shares of the company at 245.39 rupees each in a bulk deal on the National Stock Exchange.
* NTPC: Has set up its medium-term note programme worth $6 bln and listed it on India International Exchange at International Financial Services Centre in Gujarat International Finance Tec-City.
* ORIENTAL BANK: To get 35.71 bln rupees of special bonds.
* PIRAMAL ENTERPRISES: Plans to bid for debt-laden companies across six to seven sectors including auto ancillary, cement and textiles that are currently undergoing insolvency proceedings, group chairman Ajay Piramal said.
* PUNJAB NATIONAL BANK: To get 54.73 bln rupees of special bonds.
* PUNJAB & SIND BANK: To get 7.85 bln rupees of special bonds.
* RELIANCE INDUSTRIES: Arm Reliance Jio Infocomm committed an investment of 500 bln
Reliance Retail is planning an ultra low-priced Android Go OS-based 4G VoLTE smartphone under the LYF brand in partnership with Taiwanese chipset maker MediaTek.
* RELIANCE NAVAL AND ENGINEERING: The board at its meeting approved and modified refinancing scheme with the lenders of the company and consequent issuance of compulsorily convertible debentures, compulsorily redeemable preference shares, and secured non-convertible debentures.
* RELIGARE ENTERPRISES: Denied the allegations of siphoning off funds against promoters--Malvinder Singh and Shivender Singh--made in suits filed by private equity investors before the Delhi High Court. IDBI Trusteeship Services has sold 2 mln shares or 1.1% stake in the company at 45.39 rupees per share through a bulk deal on the National Stock Exchange.
* SHREE RENUKA SUGARS: Board has approved the allotment of up to 500 mln compulsorily convertible preference shares and up to 513.21 mln equity shares at 16.27 rupees each on preferential basis to lenders.
* SPICEJET: Chairman Ajay Singh has ruled his airline out of the race for the privatization-bound Air India saying, "we are too small to bid for a large airline like the national carrier."
* STATE BANK OF INDIA: To get 88.00 bln rupees of special bonds. Has signed an information utility agreement with National E-Governance Services to provide financial and security information according to guidelines by the Reserve Bank of India. Will provide credit cards to the farmers through its credit card arm SBI Cards and Payment Services, a joint venture company between the bank and GE Capital, Chairman Rajnish Kumar said.
* SYNDICATE BANK: To get 28.39 bln rupees of special bonds.
* TATA GLOBAL BEVERAGE: At least two large tea producers have evinced interest in acquiring the company's 41% stake in Amalgamated Plantations.
* TECHNO ELECTRIC AND ENGINEERING CO: SBI Mutual Fund has bought 2.19 mln shares or 1.95% stake in the company at 384.97 rupees a share in a bulk deal on the National Stock Exchange.
* TVS MOTOR CO: Will launch one motorcycle or a scooter next week, and another by March, the management said in a post-earnings conference call.
* UCO Bank: to get 51.32 bln rupees of special bonds.
* USHA MARTIN: In the first signs of rapprochement amid a pitched battle for the control of the company, Rajeev Jhawar, one of the promoters, has said he is open to a settlement.
* UNION BANK OF INDIA: The board will on Friday consider raising funds through public issue of shares, rights issue, private placement of share, preferential allotment to the government or issuance of additional tier-I and tier-II bonds. To get 45.24 bln rupees of special bonds.
* UNITED BANK OF INDIA: Board of directors approved issuance and allotment of shares worth up to 30 bln rupees to the government on a preferential basis. To get 26.34 bln rupees of special bonds.
* VIDEOCON INDUSTRIES: Has moved the Bombay High Court against STATE BANK OF
INDIA and the Reserve Bank of India and the Union government, appealing to the court to stay the lender's move to send the company to the National Corporate Law Tribunal under the Insolvency and Bankruptcy Code.
* VIJAYA BANK: To get 12.77 bln rupees of special bonds.
* WELSPUN ENTERPRISES: Has acquired a 49% stake in a project for four laning of a section of National Highway-6 in Maharashtra for 83.3 mln rupees from Vishvaraj group.
