Today Stock News – 18.04.2018
* 5PAISA CAPITAL: The board has approved the issue of up to 2.5 bln rupees worth non-convertible
debentures.
* ASTRAZENECA PHARMA INDIA: The company will invest $90 mln over the next five years in India.
* BANK OF BARODA: The Central Bureau of Investigation has questioned six former bank's officials in connection with the 36.95-bln-rupee Rotomac case.
* BHARAT HEAVY ELECTRICALS: Has appointed Subodh Gupta as director finance for five years.
* BHARTI AIRTEL: Disincentives worth "crores of rupees" were imposed on the company and AXIS BANK by the Unique Identification Authority of India for breaching terms and conditions attached to Aadhaar authentication, the agency told the Supreme Court.
* BINANI INDUSTRIES: Dalmia Cement (Bharat) and the committee of creditors for subsidiary Binani Cement argued that there was no provision in the Insolvency and Bankruptcy Code, 2016, which allows negotiations with the second-ranked bidder. The promoters Braj Binani group has asked for its shareholders' support in its fight against the National Company Law Tribunal process for Binani Cement and also oppose the resolution professional Vijay Iyer's handling of the case.
* BLUE STAR: Has launched 100 products for this summer season and has set a target of 17 bln rupees revenue from room AC segment as well as higher market share in the current fiscal.
* CROMPTON GREAVES CONSUMER ELECTRICAL: Expects rising sales of electric fans in the
premium segment to help the company gain more market share.
* FILATEX INDIA: Board will meet on May 7 to consider splitting the company's stock.
* FORTIS HEALTHCARE: Fosun Health Holdings has made a proposal for primary infusion at 156 rupees a share, up to a total investment of around 22.75 bln rupees, including a preliminary investment of 1 bln rupees.
* FUTURE CONSUMER: Has increased its stake in subsidiary Integrated Food Park to 99.93% by acquiring entire stake held by Capital Foods.
* FUTURE ENTERPRISES: Raised 3 bln rupees through the issuance of non-convertible debentures on a private placement basis.
* HINDALCO INDUSTRIES: Has raised prices of aluminium ingots, wire rods and billets by nearly 2% with effect from today.
* HINDUSTAN ZINC: Plans to increase production of silver from 556 tn in 2017-18 to 1,000 tn in the next 3- 4 years.
* HOTEL LEELAVENTURE: Has defaulted on successive interest and principal payments since 2016, on 900 mln rupees of non-convertible debentures issued to Life Insurance Corp of India in 2008.
* ICICI BANK: CEO Chanda Kochhar has said the largest private sector lender is working towards creating common standards for adopting blockchain technologies in the banking industry. Shortly before Kochhar's appointment as CEO in March 2009, some unnamed "well-wishers" paid off dues of Credential Finance--a now defunct company that was once run by her husband and brother-in-law.
* IDEA CELLULAR: First State Investments ICVC has sold 39.24 mln shares or 0.9% stake in the company at 71.50 rupees in a bulk deal on the BSE.
* INDIAN HOTELS CO: Has launched its first Taj property in Saudi Arabia in the city of Makkah.
* INDIAN HUME PIPE CO: Has secured a work order worth 1.08 bln rupee from Narmada water resources, water supply and Kalpsar department, Gujarat, for lift irrigation project to transmit 100 cusecs of water from Kherva to Visnagar.
* INDIAN OVERSEAS BANK: Has appointed General Manager C. Haridas as chief financial officer.
* INDUSIND BANK: Deutsche Bank AG has called off talks to sell its retail and private wealth businesses in India to the bank.
* INFOSYS: Has tasked Deepak Padaki, its executive vice president of strategy, mergers and acquisitions and chief risk officer, with leading its $500-mln innovation fund, which has struggled with writedowns of its investments.
* JAGRAN PRAKASHAN: The company's board will meet on Apr 27 to consider the proposal for buyback of shares.
* JET AIRWAYS INDIA: Will offer discounts of up to 30% on flights to European destinations through Amsterdam and Paris.
* KS OILS: The committee of creditors has not approved the resolution plans submitted by the resolution professional within the time period prescribed under the Insolvency and Bankruptcy Law, 2016. (Cogencis)
* LUPIN: Has received tentative approval from US Food and Drug Administration for its testosterone gel, a generic of AbbVie Inc's AndroGel 1.62%.
* NICCO CORP: STATE BANK OF INDIA and ALLAHABAD BANK will have to wait longer to recover their dues from the company as no investor has shown interest to buy the assets of the bankrupt cable maker as a single unit.
* OIL & NATURAL GAS CORP: The foreign acquisition unit of the company has filed an arbitration claim against the government of Sudan in a London court, seeking to recover dues pending for years from a project hit by the breakaway of South Sudan in 2011. Norways Statoil ASA may enter India's upstream hydrocarbon space in partnership with the company for deep-water exploration.
* PUNJAB NATIONAL BANK: Five public sector banks has reported a cumulative outstanding exposure of 1.31 bln rupees to SSK Trading, which has allegedly cheated a consortium of six banks led by the bank of 1.87 bln rupees.
* STATE BANK OF INDIA: Has sought the Supreme Court's view on whether the liability of a personal guarantor of a company under insolvency resolution process can be enforced when a moratorium against the corporate debtor for recovery of dues is on under the Insolvency and Bankruptcy Code.
* SHALBY: Has signed a memorandum of understanding with Sen Sok International University Hospital in Phnom Penh, Cambodia.
* STOVEC INDUSTRIES: Completed sale of its assets related to sugar screen business to group firm Atul Sugar Screens for 99.62 mln rupees.
* TATA COMMUNICATIONS: Has entered into pact with South African company Dreamtime Technologies to build a cloud-based virtual mobile network to serve African mobile and internet of things providers.
* TATA SPONGE IRON: Will pay 20 rupees/share dividend.
* TATA STEEL: Has raised about $1.9 bln through syndicated loans for its Singapore units Nat Steel Asia and TS Global to refinance its existing highcost debt.
* UNITED SPIRITS: The company and the France-based Pernod Ricard has approached the Chhattisgarh's High Court, alleging that the government unit has not been buying their products and are instead involved in unfair practices.
* VEDANTA: The competition for redevelopment of Bunder diamond mine is likely to hot up, with Toronto Stock Exchange-listed Fura Gems following state-owned NMDC and the company and the Adani Group in expressing interest in bidding bid for the diamond mine in Madhya Pradesh. (Cogencis)
* VIRINCHI: Has signed a multi-product contract with US-based Advance America Inc to deliver, maintain and host its flagship lending management software 'Qfund' for five years.
* WESTLIFE DEVELOPMENT: Subsidiary Hardcastle Restaurants has termed a visit by officials of the Income Tax Department as "part of a routine survey" conducted by the department.
* WIPRO: Subsidiary Wipro Consumer Care and Lighting has entered the hair oil category under the
Chandrika brand, to start with Kerala market.
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debentures.
* ASTRAZENECA PHARMA INDIA: The company will invest $90 mln over the next five years in India.
* BANK OF BARODA: The Central Bureau of Investigation has questioned six former bank's officials in connection with the 36.95-bln-rupee Rotomac case.
* BHARAT HEAVY ELECTRICALS: Has appointed Subodh Gupta as director finance for five years.
* BHARTI AIRTEL: Disincentives worth "crores of rupees" were imposed on the company and AXIS BANK by the Unique Identification Authority of India for breaching terms and conditions attached to Aadhaar authentication, the agency told the Supreme Court.
* BINANI INDUSTRIES: Dalmia Cement (Bharat) and the committee of creditors for subsidiary Binani Cement argued that there was no provision in the Insolvency and Bankruptcy Code, 2016, which allows negotiations with the second-ranked bidder. The promoters Braj Binani group has asked for its shareholders' support in its fight against the National Company Law Tribunal process for Binani Cement and also oppose the resolution professional Vijay Iyer's handling of the case.
* BLUE STAR: Has launched 100 products for this summer season and has set a target of 17 bln rupees revenue from room AC segment as well as higher market share in the current fiscal.
* CROMPTON GREAVES CONSUMER ELECTRICAL: Expects rising sales of electric fans in the
premium segment to help the company gain more market share.
* FILATEX INDIA: Board will meet on May 7 to consider splitting the company's stock.
* FORTIS HEALTHCARE: Fosun Health Holdings has made a proposal for primary infusion at 156 rupees a share, up to a total investment of around 22.75 bln rupees, including a preliminary investment of 1 bln rupees.
* FUTURE CONSUMER: Has increased its stake in subsidiary Integrated Food Park to 99.93% by acquiring entire stake held by Capital Foods.
* FUTURE ENTERPRISES: Raised 3 bln rupees through the issuance of non-convertible debentures on a private placement basis.
* HINDALCO INDUSTRIES: Has raised prices of aluminium ingots, wire rods and billets by nearly 2% with effect from today.
* HINDUSTAN ZINC: Plans to increase production of silver from 556 tn in 2017-18 to 1,000 tn in the next 3- 4 years.
* HOTEL LEELAVENTURE: Has defaulted on successive interest and principal payments since 2016, on 900 mln rupees of non-convertible debentures issued to Life Insurance Corp of India in 2008.
* ICICI BANK: CEO Chanda Kochhar has said the largest private sector lender is working towards creating common standards for adopting blockchain technologies in the banking industry. Shortly before Kochhar's appointment as CEO in March 2009, some unnamed "well-wishers" paid off dues of Credential Finance--a now defunct company that was once run by her husband and brother-in-law.
* IDEA CELLULAR: First State Investments ICVC has sold 39.24 mln shares or 0.9% stake in the company at 71.50 rupees in a bulk deal on the BSE.
* INDIAN HOTELS CO: Has launched its first Taj property in Saudi Arabia in the city of Makkah.
* INDIAN HUME PIPE CO: Has secured a work order worth 1.08 bln rupee from Narmada water resources, water supply and Kalpsar department, Gujarat, for lift irrigation project to transmit 100 cusecs of water from Kherva to Visnagar.
* INDIAN OVERSEAS BANK: Has appointed General Manager C. Haridas as chief financial officer.
* INDUSIND BANK: Deutsche Bank AG has called off talks to sell its retail and private wealth businesses in India to the bank.
* INFOSYS: Has tasked Deepak Padaki, its executive vice president of strategy, mergers and acquisitions and chief risk officer, with leading its $500-mln innovation fund, which has struggled with writedowns of its investments.
* JAGRAN PRAKASHAN: The company's board will meet on Apr 27 to consider the proposal for buyback of shares.
* JET AIRWAYS INDIA: Will offer discounts of up to 30% on flights to European destinations through Amsterdam and Paris.
* KS OILS: The committee of creditors has not approved the resolution plans submitted by the resolution professional within the time period prescribed under the Insolvency and Bankruptcy Law, 2016. (Cogencis)
* LUPIN: Has received tentative approval from US Food and Drug Administration for its testosterone gel, a generic of AbbVie Inc's AndroGel 1.62%.
* NICCO CORP: STATE BANK OF INDIA and ALLAHABAD BANK will have to wait longer to recover their dues from the company as no investor has shown interest to buy the assets of the bankrupt cable maker as a single unit.
* OIL & NATURAL GAS CORP: The foreign acquisition unit of the company has filed an arbitration claim against the government of Sudan in a London court, seeking to recover dues pending for years from a project hit by the breakaway of South Sudan in 2011. Norways Statoil ASA may enter India's upstream hydrocarbon space in partnership with the company for deep-water exploration.
* PUNJAB NATIONAL BANK: Five public sector banks has reported a cumulative outstanding exposure of 1.31 bln rupees to SSK Trading, which has allegedly cheated a consortium of six banks led by the bank of 1.87 bln rupees.
* STATE BANK OF INDIA: Has sought the Supreme Court's view on whether the liability of a personal guarantor of a company under insolvency resolution process can be enforced when a moratorium against the corporate debtor for recovery of dues is on under the Insolvency and Bankruptcy Code.
* SHALBY: Has signed a memorandum of understanding with Sen Sok International University Hospital in Phnom Penh, Cambodia.
* STOVEC INDUSTRIES: Completed sale of its assets related to sugar screen business to group firm Atul Sugar Screens for 99.62 mln rupees.
* TATA COMMUNICATIONS: Has entered into pact with South African company Dreamtime Technologies to build a cloud-based virtual mobile network to serve African mobile and internet of things providers.
* TATA SPONGE IRON: Will pay 20 rupees/share dividend.
* TATA STEEL: Has raised about $1.9 bln through syndicated loans for its Singapore units Nat Steel Asia and TS Global to refinance its existing highcost debt.
* UNITED SPIRITS: The company and the France-based Pernod Ricard has approached the Chhattisgarh's High Court, alleging that the government unit has not been buying their products and are instead involved in unfair practices.
* VEDANTA: The competition for redevelopment of Bunder diamond mine is likely to hot up, with Toronto Stock Exchange-listed Fura Gems following state-owned NMDC and the company and the Adani Group in expressing interest in bidding bid for the diamond mine in Madhya Pradesh. (Cogencis)
* VIRINCHI: Has signed a multi-product contract with US-based Advance America Inc to deliver, maintain and host its flagship lending management software 'Qfund' for five years.
* WESTLIFE DEVELOPMENT: Subsidiary Hardcastle Restaurants has termed a visit by officials of the Income Tax Department as "part of a routine survey" conducted by the department.
* WIPRO: Subsidiary Wipro Consumer Care and Lighting has entered the hair oil category under the
Chandrika brand, to start with Kerala market.
