Today Stock News – 20.04.2018
* AXIS BANK: The board has engaged executive search firm Egon Zehnder to find a suitable successor to Shikha Sharma, before she demits office this December.
* BHARAT BIJLEE: The company on Wednesday commissioned a facility for its Magnet Technology Machines at Airoli, Navi Mumbai, at a cost of 80 mln rupees.
* BHARAT PETROLEUM CORP: Plans to start a trading office in Singapore in the near future to procure crude for its refineries and trade oil products.
* BHARTI AIRTEL: Is in advance talks with video streaming giant Netflix to offer free access of its content to Airtel TV App users.
* BINANI INDUSTRIES: The National Company Law Appellate Tribunal has asked the Kolkata bench of the National Company Law Tribunal to continue hearing in the Binani Cement insolvency case.
* CYIENT: The company will pay a final dividend of 4 rupees a share.
* EVEREADY INDUSTRIES INDIA: The Competition Commission of India has fined the company and Nippo Batteries a total of 2.1 bln rupees for "colluding to fix prices of zinc-carbon dry cell battery in India".
* FORTIS HEALTHCARE: In a major setback to IHH Healthcare Berhad and Fosun Health Holdings, which gave non-binding offers for the acquisition of the company and also sought due diligence, the board of the hospital chain said that it would only evaluate binding offers that do not require due diligence.
* HATHWAY CABLE & DATACOM: Morgan Stanley Asia Singapore has sold 2.16% stake or 17.95 mln shares of the company at 39.50 rupees apiece through a bulk deal on BSE.
* HOUSING DEVELOPMENT FINANCE CORP: The allotment committee of the company approved the allotment of 500,000 shares in conversion of 500,000 warrants.
* ICICI BANK: Its board has defended Chief Executive Chanda Kochhar yet again, rejecting demands for an external audit to inspect whether correct processes were followed while giving loans to VIDEOCON INDUSTRIES.
* INDIAN METALS & FERRO ALLOYS: Has received demand notices for alleged excess mining at its Nuasahi and Bangur chromite mines amounting to 241.3 mln rupees.
* INFO EDGE INDIA: Has acquired 20% stake in Bizcrum Infotech through its wholly-owned subsidiary for 30 mln rupees.
* JAYASWAL NECO: National Company Law Tribunal's decision on the future of the company is likely only in July, after the Supreme Court hearing on Jul 2.
* JB CHEMICALS & PHARMACEUTICALS: The Pollution Control Committee, Daman, has ordered the closure of the company's formulation manufacturing facility in Daman, as treated waste water released from the effluent treatment plant of the facility allegedly diverted from norms.
* KIRLOSKAR OIL ENGINES: In response to an exchange query, the company said the media report that Blackstone private equity fund has emerged the front runner to buy the company is speculative and not based on any information released by the company.
* LANCO INFRATECH: In response to an exchange query after a media report said the company along with ABG SHIPYARD and ALOK INDUSTRIES may face liquidation, the company categorically denied the report as it is factually incorrect.
* LARSEN & TOUBRO: The consortium of Schneider Electric of France and Singapore's Temasek Holdings has resumed talks to buy the company's electrical and automation business.
* MAHINDRA & MAHINDRA: The company has set up a step-down subsidiary Mahindra Susten Bangladesh in Bangladesh.
* MBL INFRASTRUCTURES: The National Company Law Tribunal has approved the resolution plan submitted by the company's promoter A.K. Lakhotia.
* NAGARJUNA OIL REFINERY: Hopes of a revival of the subsidiary Nagarjuna Oil Corp refinery project seem to have been dashed with the creditors not finding any of the bids acceptable.
* NTPC: Has plans to replace some coal-based electricity it supplies through power purchase agreements with renewable energy in a bid to take advantage of the prevailing low rates of the latter. To meet its FY19 capacity addition target of 5,000 MW, the company is coming up with tenders to build for more than 2,900 MW of generation units in this quarter. Has decided to exit the joint venture with BHARAT HEAVY ELECTRICALS, saying it is not a manufacturer of equipment and would rather concentrate on setting up and operating power plants.
* PARAG MILK FOODS: Is banking on cow milk to differentiate itself in the highly competitive DelhiNational Capital Region market.
* PUNJAB & SIND BANK: Said it has a 1.69-bln-rupee outstanding exposure to Surya Pharmaceuticals that has been fully provided for and, thus, will have "no additional impact" on the bank's profitability.
* RELIANCE INDUSTRIES: India's Foreign Tax and Tax Research division has sought information from various countries, including Singapore, on the 65-bln-rupee investment by Singapore's Biometrix Marketing in companies belonging to the company or its promoter group.
* SHRIRAM TRANSPORT FINANCE CO: The board of directors will meet on Apr 27 to consider raising funds for 2018-19 (Apr-Mar), through issuance of non-convertible debentures, rupee denominated bonds or notes in off-shore, external commercial borrowing and other methods of borrowing.
* SOBHA LTD: Has sold $10 mln worth of property in two days through an online property expo, 'The Now or Never Sale'.
* STATE BANK OF INDIA: Waived the fee on all cash withdrawals from its point-of-sale machines. The fee waiver, which will be available to customers across banks, comes amid cash shortage at automated teller machines reported in several states.
* SUNDARAM FINANCE HOLDINGS: Reliance Mutual Fund today bought 3 mln shares or 2% stake in the company at 151.65 rupees per share in a bulk deal on the National Stock Exchange.
* TATA CONSULTANCY SERVICES: The company will pay a final dividend of 29 rupees a share. The board of the company has approved the issue of one bonus share for every share held. The company is wellpositioned to deliver double-digit growth in revenues in dollar terms, Chief Executive Officer Rajesh Gopinathan said.
* TATA STEEL: Germany-based Thyssenkrupp is expecting finalisation of its joint venture with the company by end of 2018.
* THOMAS COOK INDIA: The Supreme Court has restored an order passed by the Competition Commission of (India) imposing penalty of 10 mln rupees on the company. The company's board has approved the acquisition of 4.44% stake or 73,234 shares in Travel Corp (India) from Sterling Holiday Resorts, a whollyowned subsidiary of the company, for 166.92 mln rupees.
* TVS MOTOR CO: The company has launched a new variant of TVS XL100 with electric start technology and integrated starter generator system.
* ULTRATECH CEMENT: Has urged the Kolkata bench of the National Company Law Tribunal to reject rival bidder Rajputana Properties' plan and accept its revised resolution plan for debt-laden Binani Cement on the ground that the process of approving DALMIA BHARAT-controlled Rajputana Properties' resolution plan by the creditors' committee was 'flawed'.
* UNIPLY INDUSTRIES: Malabar India Fund bought 1.44 mln shares or 6.04% stake in the company at 411 rupees apiece through a bulk deal on the BSE
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* BHARAT BIJLEE: The company on Wednesday commissioned a facility for its Magnet Technology Machines at Airoli, Navi Mumbai, at a cost of 80 mln rupees.
* BHARAT PETROLEUM CORP: Plans to start a trading office in Singapore in the near future to procure crude for its refineries and trade oil products.
* BHARTI AIRTEL: Is in advance talks with video streaming giant Netflix to offer free access of its content to Airtel TV App users.
* BINANI INDUSTRIES: The National Company Law Appellate Tribunal has asked the Kolkata bench of the National Company Law Tribunal to continue hearing in the Binani Cement insolvency case.
* CYIENT: The company will pay a final dividend of 4 rupees a share.
* EVEREADY INDUSTRIES INDIA: The Competition Commission of India has fined the company and Nippo Batteries a total of 2.1 bln rupees for "colluding to fix prices of zinc-carbon dry cell battery in India".
* FORTIS HEALTHCARE: In a major setback to IHH Healthcare Berhad and Fosun Health Holdings, which gave non-binding offers for the acquisition of the company and also sought due diligence, the board of the hospital chain said that it would only evaluate binding offers that do not require due diligence.
* HATHWAY CABLE & DATACOM: Morgan Stanley Asia Singapore has sold 2.16% stake or 17.95 mln shares of the company at 39.50 rupees apiece through a bulk deal on BSE.
* HOUSING DEVELOPMENT FINANCE CORP: The allotment committee of the company approved the allotment of 500,000 shares in conversion of 500,000 warrants.
* ICICI BANK: Its board has defended Chief Executive Chanda Kochhar yet again, rejecting demands for an external audit to inspect whether correct processes were followed while giving loans to VIDEOCON INDUSTRIES.
* INDIAN METALS & FERRO ALLOYS: Has received demand notices for alleged excess mining at its Nuasahi and Bangur chromite mines amounting to 241.3 mln rupees.
* INFO EDGE INDIA: Has acquired 20% stake in Bizcrum Infotech through its wholly-owned subsidiary for 30 mln rupees.
* JAYASWAL NECO: National Company Law Tribunal's decision on the future of the company is likely only in July, after the Supreme Court hearing on Jul 2.
* JB CHEMICALS & PHARMACEUTICALS: The Pollution Control Committee, Daman, has ordered the closure of the company's formulation manufacturing facility in Daman, as treated waste water released from the effluent treatment plant of the facility allegedly diverted from norms.
* KIRLOSKAR OIL ENGINES: In response to an exchange query, the company said the media report that Blackstone private equity fund has emerged the front runner to buy the company is speculative and not based on any information released by the company.
* LANCO INFRATECH: In response to an exchange query after a media report said the company along with ABG SHIPYARD and ALOK INDUSTRIES may face liquidation, the company categorically denied the report as it is factually incorrect.
* LARSEN & TOUBRO: The consortium of Schneider Electric of France and Singapore's Temasek Holdings has resumed talks to buy the company's electrical and automation business.
* MAHINDRA & MAHINDRA: The company has set up a step-down subsidiary Mahindra Susten Bangladesh in Bangladesh.
* MBL INFRASTRUCTURES: The National Company Law Tribunal has approved the resolution plan submitted by the company's promoter A.K. Lakhotia.
* NAGARJUNA OIL REFINERY: Hopes of a revival of the subsidiary Nagarjuna Oil Corp refinery project seem to have been dashed with the creditors not finding any of the bids acceptable.
* NTPC: Has plans to replace some coal-based electricity it supplies through power purchase agreements with renewable energy in a bid to take advantage of the prevailing low rates of the latter. To meet its FY19 capacity addition target of 5,000 MW, the company is coming up with tenders to build for more than 2,900 MW of generation units in this quarter. Has decided to exit the joint venture with BHARAT HEAVY ELECTRICALS, saying it is not a manufacturer of equipment and would rather concentrate on setting up and operating power plants.
* PARAG MILK FOODS: Is banking on cow milk to differentiate itself in the highly competitive DelhiNational Capital Region market.
* PUNJAB & SIND BANK: Said it has a 1.69-bln-rupee outstanding exposure to Surya Pharmaceuticals that has been fully provided for and, thus, will have "no additional impact" on the bank's profitability.
* RELIANCE INDUSTRIES: India's Foreign Tax and Tax Research division has sought information from various countries, including Singapore, on the 65-bln-rupee investment by Singapore's Biometrix Marketing in companies belonging to the company or its promoter group.
* SHRIRAM TRANSPORT FINANCE CO: The board of directors will meet on Apr 27 to consider raising funds for 2018-19 (Apr-Mar), through issuance of non-convertible debentures, rupee denominated bonds or notes in off-shore, external commercial borrowing and other methods of borrowing.
* SOBHA LTD: Has sold $10 mln worth of property in two days through an online property expo, 'The Now or Never Sale'.
* STATE BANK OF INDIA: Waived the fee on all cash withdrawals from its point-of-sale machines. The fee waiver, which will be available to customers across banks, comes amid cash shortage at automated teller machines reported in several states.
* SUNDARAM FINANCE HOLDINGS: Reliance Mutual Fund today bought 3 mln shares or 2% stake in the company at 151.65 rupees per share in a bulk deal on the National Stock Exchange.
* TATA CONSULTANCY SERVICES: The company will pay a final dividend of 29 rupees a share. The board of the company has approved the issue of one bonus share for every share held. The company is wellpositioned to deliver double-digit growth in revenues in dollar terms, Chief Executive Officer Rajesh Gopinathan said.
* TATA STEEL: Germany-based Thyssenkrupp is expecting finalisation of its joint venture with the company by end of 2018.
* THOMAS COOK INDIA: The Supreme Court has restored an order passed by the Competition Commission of (India) imposing penalty of 10 mln rupees on the company. The company's board has approved the acquisition of 4.44% stake or 73,234 shares in Travel Corp (India) from Sterling Holiday Resorts, a whollyowned subsidiary of the company, for 166.92 mln rupees.
* TVS MOTOR CO: The company has launched a new variant of TVS XL100 with electric start technology and integrated starter generator system.
* ULTRATECH CEMENT: Has urged the Kolkata bench of the National Company Law Tribunal to reject rival bidder Rajputana Properties' plan and accept its revised resolution plan for debt-laden Binani Cement on the ground that the process of approving DALMIA BHARAT-controlled Rajputana Properties' resolution plan by the creditors' committee was 'flawed'.
* UNIPLY INDUSTRIES: Malabar India Fund bought 1.44 mln shares or 6.04% stake in the company at 411 rupees apiece through a bulk deal on the BSE
