Today Stock News – 19.04.2018
* ABG SHIPYARD: A resolution professional has invited expression of interest and resolution plans for the debt-laden company. Liberty House is likely to bid for the company for the third time after creditors invited fresh proposals for the troubled ship builder.
* AMTEK AUTO: Banks led by STATE BANK OF INDIA will soon ask the resolution professional of the company to review the eligibility of Liberty House, the highest bidder. Liberty House and Deccan Value have bid for bankrupt Castex Technologies, a subsidiary, with both offering about 20% of overdues.
* ASHOK LEYLAND: The company has chalked out a 10-bln-rupees plan for 2018-19 (Apr-Mar), which include setting up of a factory in Andhra Pradesh. Plans to redesign its light commercial vehicles to serve the fast-growing Indian e-commerce industry's last-mile delivery needs.
* AXIS BANK: Reported a 2.40-bln-rupee fraud in 2016, against which legal action has already been initiated and as such, this would have no "material impact" on the bank.
* BHARTI AIRTEL: Has topped the charts on third-generation and fourth-generation download
speed, bettering rival Reliance Jio Infocomm, while the latter emerged as the best fourth-generation service provider.
* DCB BANK: Abu Dhabi Investment Authority has bought 2.1 mln shares or 0.68% stake in the bank at 198.18 rupees apiece on the National Stock Exchange.
* DEWAN HOUSING FINANCE CORP: The board of directors will meet on Apr 30 to consider raising up to 180 bln rupees through the issue of non-convertible debentures and up to 5 bln rupees through perpetual debt.
* DYNEMIC PRODUCTS: The company's manufacturing unit in Ankleshwar, Gujarat, has been shut following a closure notice from Gujarat Pollution Control Board.
* FORTIS HEALTHCARE: Investors hoping for a quick resolution to the future ownership quandary facing the company, at the company's board meeting on Thursday may be in for disappointment, analysts said, as it could take months for the haze to clear. Radiant Lifecare, a Mumbai-based hospital chain that is backed by buyout firm KKR, is set to submit its bid for the company. IHH Healthcare Bhd has asked the company for three weeks to complete due diligence ahead of making a potential binding offer.
* GITANJALI GEMS: The government has moved the National Company Law Appelate Tribunal, seeking its approval to attach and take over individual properties of the directors and promoters of the company in the alleged fraud at the PUNJAB NATIONAL BANK.
* GSS INFOTECH: Nomura Singapore has bought 500,000 shares or 2.95% stake in the company at 74 rupees a share through bulk deals on the National Stock Exchange and BSE.
* HERO MOTOCORP: Has launched an e-commerce portal to retail Hero Genuine Parts and Accessories.
* ICICI BANK: With investments of over 300 bln rupees riding on the stock, heads of mutual fund houses met the bank's Chairman M.K. Sharma over the succession plan at the private sector lender. The Central Bureau of Investigation questioned Sunil Bhuta, chief financial officer of NuPower Renewables in connection with a 32.50-bln-rupee loan from the bank to the Videocon Group in 2012.
* IFCI: Has sought bids from merchant bankers for partial disinvestment of its stake in National
Stock Exchange.
* INFOSYS: Clarified it has not received any complaint from any whistleblower or from SEBI or the US Securities and Exchange Commission regarding its subsidiary Panaya and hence has not commented on such reports.
* INTERGLOBE AVIATION: The company-run IndiGo's market share slipped marginally to 39.5% in March from 39.9% in the preceding month. IndiGo's passenger load factor, or capacity utilisation, was at 89%, compared with 91.8% in February.
* JAIN IRRIGATION SYSTEMS: The board has approved raising up to 2.6 bln rupees in the form of a sevenyear external commercial borrowing from International Finance Corp, an arm of World Bank.
* JAYPEE INFRATECH: The Jaypee group is devising a strategy to move the National Company Law Tribunal with its bid for the company after the Supreme Court allowed it to file a resolution plan.
* JET AIRWAYS INDIA: The company, along with its low-cost subsidiary JetLite, remained the secondlargest carrier in terms of market share, though the figure for March slipped marginally to 16.6% from 16.8% in February. In March, capacity utilisation of the company and JetLite was at 86.2% and 87.1%, respectively.
* JUBILANT FOODWORKS: The company has clarified that the cheese used in making Domino's Pizza is made from good quality, unadulterated milk.
* KIRLOSKAR OIL ENGINES: Blackstone has emerged the frontrunner to buy the company.
* LEMON TREE HOTELS: Carnation Hotels, wholly-owned subsidiary of the company, has signed
management contracts for three hotels in Uttarakhand.
* MAGMA FINCORP: Has raised approximately 5 bln rupees through qualified institutional placement and its net worth has increased by about 25%.
* MAHINDRA & MAHINDRA: May introduce the Pininfarina electric supercar in India after it is launched in Europe in 2020.
* MINDTREE: The board has declared a final dividend of 3 rupees per share. Expects its margins to improve in 2018-19 (Apr-Mar), but sees an on-quarter hit of 300 basis points in Apr-Jun due to hike in wages of employees.
* MISHRA DHATU NIGAM: Has entered into two non-binding memoranda of understanding at Defexpo India-2018.
* MMTC: Aims to launch a full-fledged portal for its e-commerce transactions by September this year.
* NEW DELHI TELEVISION: The company was among the 12 media houses fined 1 mln rupees each by the Delhi High Court for revealing the identity of an eight-year-old girl who was raped and murdered in Jammu and Kashmir's Kathua district.
* NMDC: With iron ore volumes falling and global prices on the decline, public sector iron ore major the company has announced a cut of 100 rupees per tn in prices of its iron ore lumps and fines for April.
* OIL AND NATURAL GAS CORP: Sanjay Kumar Moitra took charge as director (onshore) of the company.
* RELIGARE ENTERPRISES: Ashok Mehta has resigned as independent director on Tuesday, as he is in the process of subscribing to the ongoing preferential issue of warrants, which will result in his shareholding exceeding the threshold specified for such directors.
* SADBHAV INFRASTRUCTURE PROJECT: The finance and investment committee of the company will meet on Monday to consider raising 1.7 bln rupees through allotment of non-convertible debentures on a private placement basis.
* SHRIRAM TRANSPORT FINANCE CO: Has launched its first smart branch, or e-branch, in New Delhi and plans to launch another 100 e-branches within a year.
* SPICEJET: The company's market share in March was at 12.7%, up marginally from 12.4% in February. The carrier had the highest passenger load factor at 95%. This is the 36th month in a row that the airline has recorded passenger load factor above 90%.
* SUN PHARMACEUTICAL INDUSTRIES: The company's wholly-owned subsidiary Sun Pharma
(Netherlands) BV will acquire 394,404 shares in Ranbaxy Malaysia Sdn Bhd for 1.69 mln ringgits (about 28.55 mln rupees).
* TATA SPONGE IRON: AJO Emerging Markets Small-Cap Master Fund has sold 81,844 shares or 0.5% stake in the company at 1,148.41 rupees per share in a bulk deal on the National Stock Exchange.
* TATA STEEL: May acquire three-fourths of the debt-laden BHUSHAN STEEL's share capital through an equity infusion of 1.80 bln rupees.
* TEAMLEASE SERVICES: Private equity firm Gaja Capital sold 683,072 mln shares or 3.99% stake in the company in three bulk deals on the National Stock Exchange and BSE.
* TRIGYN TECHNOLOGIES: Arm Trigyn Technologies Inc was awarded a contract that will run till June 2024, by Anne Arundel County in Maryland, US, to provide information technology professional services.
CLICK HERE
*********************************************************************************
* AMTEK AUTO: Banks led by STATE BANK OF INDIA will soon ask the resolution professional of the company to review the eligibility of Liberty House, the highest bidder. Liberty House and Deccan Value have bid for bankrupt Castex Technologies, a subsidiary, with both offering about 20% of overdues.
* ASHOK LEYLAND: The company has chalked out a 10-bln-rupees plan for 2018-19 (Apr-Mar), which include setting up of a factory in Andhra Pradesh. Plans to redesign its light commercial vehicles to serve the fast-growing Indian e-commerce industry's last-mile delivery needs.
* AXIS BANK: Reported a 2.40-bln-rupee fraud in 2016, against which legal action has already been initiated and as such, this would have no "material impact" on the bank.
* BHARTI AIRTEL: Has topped the charts on third-generation and fourth-generation download
speed, bettering rival Reliance Jio Infocomm, while the latter emerged as the best fourth-generation service provider.
* DCB BANK: Abu Dhabi Investment Authority has bought 2.1 mln shares or 0.68% stake in the bank at 198.18 rupees apiece on the National Stock Exchange.
* DEWAN HOUSING FINANCE CORP: The board of directors will meet on Apr 30 to consider raising up to 180 bln rupees through the issue of non-convertible debentures and up to 5 bln rupees through perpetual debt.
* DYNEMIC PRODUCTS: The company's manufacturing unit in Ankleshwar, Gujarat, has been shut following a closure notice from Gujarat Pollution Control Board.
* FORTIS HEALTHCARE: Investors hoping for a quick resolution to the future ownership quandary facing the company, at the company's board meeting on Thursday may be in for disappointment, analysts said, as it could take months for the haze to clear. Radiant Lifecare, a Mumbai-based hospital chain that is backed by buyout firm KKR, is set to submit its bid for the company. IHH Healthcare Bhd has asked the company for three weeks to complete due diligence ahead of making a potential binding offer.
* GITANJALI GEMS: The government has moved the National Company Law Appelate Tribunal, seeking its approval to attach and take over individual properties of the directors and promoters of the company in the alleged fraud at the PUNJAB NATIONAL BANK.
* GSS INFOTECH: Nomura Singapore has bought 500,000 shares or 2.95% stake in the company at 74 rupees a share through bulk deals on the National Stock Exchange and BSE.
* HERO MOTOCORP: Has launched an e-commerce portal to retail Hero Genuine Parts and Accessories.
* ICICI BANK: With investments of over 300 bln rupees riding on the stock, heads of mutual fund houses met the bank's Chairman M.K. Sharma over the succession plan at the private sector lender. The Central Bureau of Investigation questioned Sunil Bhuta, chief financial officer of NuPower Renewables in connection with a 32.50-bln-rupee loan from the bank to the Videocon Group in 2012.
* IFCI: Has sought bids from merchant bankers for partial disinvestment of its stake in National
Stock Exchange.
* INFOSYS: Clarified it has not received any complaint from any whistleblower or from SEBI or the US Securities and Exchange Commission regarding its subsidiary Panaya and hence has not commented on such reports.
* INTERGLOBE AVIATION: The company-run IndiGo's market share slipped marginally to 39.5% in March from 39.9% in the preceding month. IndiGo's passenger load factor, or capacity utilisation, was at 89%, compared with 91.8% in February.
* JAIN IRRIGATION SYSTEMS: The board has approved raising up to 2.6 bln rupees in the form of a sevenyear external commercial borrowing from International Finance Corp, an arm of World Bank.
* JAYPEE INFRATECH: The Jaypee group is devising a strategy to move the National Company Law Tribunal with its bid for the company after the Supreme Court allowed it to file a resolution plan.
* JET AIRWAYS INDIA: The company, along with its low-cost subsidiary JetLite, remained the secondlargest carrier in terms of market share, though the figure for March slipped marginally to 16.6% from 16.8% in February. In March, capacity utilisation of the company and JetLite was at 86.2% and 87.1%, respectively.
* JUBILANT FOODWORKS: The company has clarified that the cheese used in making Domino's Pizza is made from good quality, unadulterated milk.
* KIRLOSKAR OIL ENGINES: Blackstone has emerged the frontrunner to buy the company.
* LEMON TREE HOTELS: Carnation Hotels, wholly-owned subsidiary of the company, has signed
management contracts for three hotels in Uttarakhand.
* MAGMA FINCORP: Has raised approximately 5 bln rupees through qualified institutional placement and its net worth has increased by about 25%.
* MAHINDRA & MAHINDRA: May introduce the Pininfarina electric supercar in India after it is launched in Europe in 2020.
* MINDTREE: The board has declared a final dividend of 3 rupees per share. Expects its margins to improve in 2018-19 (Apr-Mar), but sees an on-quarter hit of 300 basis points in Apr-Jun due to hike in wages of employees.
* MISHRA DHATU NIGAM: Has entered into two non-binding memoranda of understanding at Defexpo India-2018.
* MMTC: Aims to launch a full-fledged portal for its e-commerce transactions by September this year.
* NEW DELHI TELEVISION: The company was among the 12 media houses fined 1 mln rupees each by the Delhi High Court for revealing the identity of an eight-year-old girl who was raped and murdered in Jammu and Kashmir's Kathua district.
* NMDC: With iron ore volumes falling and global prices on the decline, public sector iron ore major the company has announced a cut of 100 rupees per tn in prices of its iron ore lumps and fines for April.
* OIL AND NATURAL GAS CORP: Sanjay Kumar Moitra took charge as director (onshore) of the company.
* RELIGARE ENTERPRISES: Ashok Mehta has resigned as independent director on Tuesday, as he is in the process of subscribing to the ongoing preferential issue of warrants, which will result in his shareholding exceeding the threshold specified for such directors.
* SADBHAV INFRASTRUCTURE PROJECT: The finance and investment committee of the company will meet on Monday to consider raising 1.7 bln rupees through allotment of non-convertible debentures on a private placement basis.
* SHRIRAM TRANSPORT FINANCE CO: Has launched its first smart branch, or e-branch, in New Delhi and plans to launch another 100 e-branches within a year.
* SPICEJET: The company's market share in March was at 12.7%, up marginally from 12.4% in February. The carrier had the highest passenger load factor at 95%. This is the 36th month in a row that the airline has recorded passenger load factor above 90%.
* SUN PHARMACEUTICAL INDUSTRIES: The company's wholly-owned subsidiary Sun Pharma
(Netherlands) BV will acquire 394,404 shares in Ranbaxy Malaysia Sdn Bhd for 1.69 mln ringgits (about 28.55 mln rupees).
* TATA SPONGE IRON: AJO Emerging Markets Small-Cap Master Fund has sold 81,844 shares or 0.5% stake in the company at 1,148.41 rupees per share in a bulk deal on the National Stock Exchange.
* TATA STEEL: May acquire three-fourths of the debt-laden BHUSHAN STEEL's share capital through an equity infusion of 1.80 bln rupees.
* TEAMLEASE SERVICES: Private equity firm Gaja Capital sold 683,072 mln shares or 3.99% stake in the company in three bulk deals on the National Stock Exchange and BSE.
* TRIGYN TECHNOLOGIES: Arm Trigyn Technologies Inc was awarded a contract that will run till June 2024, by Anne Arundel County in Maryland, US, to provide information technology professional services.
