Today Stock News – 23.04.2018
* AMARJOTHI SPINNING MILLS: The board has approved sale of 9.19-acre land for 4.3 mln rupees to Puvaneswari Enterprises Wind Farms.
* AMTEK AUTO: The resolution professional of the comp
* FORTIS HEALTHCARE: Private equity firm KKR-backed Radiant Life Care, which joined fray for acquiring the assets of the company through a non-binding expression of interest, has sought more time to complete due diligence before it can make a binding offer.
* GAIL INDIA: The first liquefied natural gas cargo from Russian energy major Gazprom will land in India in May, following an agreement in January with the company to bring down prices based on a new formula.
* HDFC BANK: The board has declared a dividend of 13 rupees per share.
* ICICI BANK: Securities and Exchange Board of India is mulling getting a forensic examination done on financial statements and disclosures made by the bank in last few years amid a controversy over alleged conflict of interest involving the lender's Chief Executive Officer Chanda Kochhar and her husband.
-The bank's Chairman M.K. Sharma conducted a secret, internal inquiry two years ago that found no
wrongdoing on the part of Chief Executive Officer Chanda Kochhar over loans to the Videocon group after a shareholder complaint.
-Probe agencies are examining if the bank should have declared three companies -- Pacific Capital Services, Supreme Energy and Pinnacle Energy -- as related parties.
* IDEA CELLULAR: Company's proposal to allow up to 100% foreign direct investment in the company is under consideration of the Department of Industrial Policy and Promotion.
* INDIABULLS HOUSING FINANCE: Will pay an interim dividend of 10 rupees a share. It also approved raising up to 260 bln rupees through secured and unsecured non-convertible debentures.
* INDIAN HUME PIPE CO: Has received a work order worth 5.79 bln rupees from Madhya Pradesh Jal Nigam Maryadit for Kundaliya multi village rural water supply scheme.
* INFOSYS: Oppenheimer Developing Markets Fund has slashed its holding in the company during the March quarter, further paring its stake in the software services exporter led by new Chief Executive Officer Salil Parekh.
* INTELLECT DESIGN ARENA: Has launched a digital platform deposit that will allow banks to come up with new and tailored deposit products, which are compliant with regulations.
* JAYPEE INFRATECH: A key lender to the bankruptcy-hit company has ripped apart the bid evaluation process followed by the resolution professional conducting the auction of the firm, saying it has "serious deficiencies and shortcomings".
* JSW STEEL: May go it alone if the committee of creditors for Essar Steel decides to consider a fresh round of bids.
* KARUR VYSYA BANK: SEBI disposed of the charges against the bank as it did not find any violation of shareholding disclosure norms.
* LAKSHMI VILAS BANK: The board has appointed S. Sundar as chief financial officer of the bank for two years from the date of taking office.
* LARSEN & TOUBRO: Has sold 1 mln shares or 0.6% stake in subsidiary L&T INFOTECH at 1,399 rupees apiece through a bulk deal on the National Stock Exchange. The company is considering the electrical and automation businesses for restructuring.
* MAHINDRA & MAHINDRA: Mahindra Group arm Mahindra Electric and cab service Meru had announced a joint electric vehicle pilot project in Hyderabad which would be replicated in other cities eventually.
* MAHANAGAR TELEPHONE NIGAM: Continues to struggle with declining revenues and mounting losses in a fiercely competitive market, the government is finally exploring the option of shutting down the debt-laden firm and monetise its land, buildings and tower business.
* MOSER BAER INDIA: Bids for the assets of bankrupt Moser Baer Solar, a subsidiary of the company are likely to be invited this week, according to resolution professional Arvind Garg.
* MOTHERSON SUMI SYSTEMS: Is in an advanced stage of sealing at least three more acquisitions in the next 5-6 months.
* NAGARJUNA OIL REFINERY: The 47-bln-rupee project of the company at Cuddalore has entered the liquidation process under the Insolvency and Bankruptcy Code after the 270-day deadline, offered by the National Company Law Tribunal to identify a successful bidder, ended on Friday.
* NTPC: Will substitute thermal power that it had committed to supply to its consumers with cheaper renewable power after the ministry of power tweaked norms to allow the same.
* ORCHID PHARMA: The committee of creditors has rejected all the three bids for the company.
* PHOENIX MILLS: Subsidiary Island Star Mall Developers has acquired a land parcel in Hebbal, Bengaluru for 6.5 bln rupees.
* PUNJAB NATIONAL BANK: Passports of 150 wilful defaulters have been impounded based on its complaints in the past few months. The bank has intensified its efforts in accordance with the RBI's directions to name and shame wilful defaulters.
-The government has intervened in the bankruptcy proceedings of Nirav Modi firms in the US to protect the interests of the bank, Union Minister P.P. Chaudhary said.
-Has moved Hong Kong High Court against diamond trader Nirav Modi in connection with the multi-crore scam at Mumbai's Brady House branch of the bank.
* RELIANCE INDUSTRIES: Has refuted reports of the tax department widening its probe into foreign direct investments worth 65 bln rupees by Biometrix Marketing in companies belonging to the petrochemical major.
* RUCHI SOYA INDUSTRIES: Ramdev-led Patanjali Ayurved has placed a 90-bln-rupee bid to acquire the debt-ridden the company through the ongoing insolvency process under the National Company Law Tribunal.
* SJVN LTD: The company and THDC India have renewed their annual memorandum of understanding with the Ministry of Power.
* SUZLON ENERGY: The SEBI has imposed a penalty of 11 mln rupees on the company for violating insider trading norms.
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* AMTEK AUTO: The resolution professional of the comp
* FORTIS HEALTHCARE: Private equity firm KKR-backed Radiant Life Care, which joined fray for acquiring the assets of the company through a non-binding expression of interest, has sought more time to complete due diligence before it can make a binding offer.
* GAIL INDIA: The first liquefied natural gas cargo from Russian energy major Gazprom will land in India in May, following an agreement in January with the company to bring down prices based on a new formula.
* HDFC BANK: The board has declared a dividend of 13 rupees per share.
* ICICI BANK: Securities and Exchange Board of India is mulling getting a forensic examination done on financial statements and disclosures made by the bank in last few years amid a controversy over alleged conflict of interest involving the lender's Chief Executive Officer Chanda Kochhar and her husband.
-The bank's Chairman M.K. Sharma conducted a secret, internal inquiry two years ago that found no
wrongdoing on the part of Chief Executive Officer Chanda Kochhar over loans to the Videocon group after a shareholder complaint.
-Probe agencies are examining if the bank should have declared three companies -- Pacific Capital Services, Supreme Energy and Pinnacle Energy -- as related parties.
* IDEA CELLULAR: Company's proposal to allow up to 100% foreign direct investment in the company is under consideration of the Department of Industrial Policy and Promotion.
* INDIABULLS HOUSING FINANCE: Will pay an interim dividend of 10 rupees a share. It also approved raising up to 260 bln rupees through secured and unsecured non-convertible debentures.
* INDIAN HUME PIPE CO: Has received a work order worth 5.79 bln rupees from Madhya Pradesh Jal Nigam Maryadit for Kundaliya multi village rural water supply scheme.
* INFOSYS: Oppenheimer Developing Markets Fund has slashed its holding in the company during the March quarter, further paring its stake in the software services exporter led by new Chief Executive Officer Salil Parekh.
* INTELLECT DESIGN ARENA: Has launched a digital platform deposit that will allow banks to come up with new and tailored deposit products, which are compliant with regulations.
* JAYPEE INFRATECH: A key lender to the bankruptcy-hit company has ripped apart the bid evaluation process followed by the resolution professional conducting the auction of the firm, saying it has "serious deficiencies and shortcomings".
* JSW STEEL: May go it alone if the committee of creditors for Essar Steel decides to consider a fresh round of bids.
* KARUR VYSYA BANK: SEBI disposed of the charges against the bank as it did not find any violation of shareholding disclosure norms.
* LAKSHMI VILAS BANK: The board has appointed S. Sundar as chief financial officer of the bank for two years from the date of taking office.
* LARSEN & TOUBRO: Has sold 1 mln shares or 0.6% stake in subsidiary L&T INFOTECH at 1,399 rupees apiece through a bulk deal on the National Stock Exchange. The company is considering the electrical and automation businesses for restructuring.
* MAHINDRA & MAHINDRA: Mahindra Group arm Mahindra Electric and cab service Meru had announced a joint electric vehicle pilot project in Hyderabad which would be replicated in other cities eventually.
* MAHANAGAR TELEPHONE NIGAM: Continues to struggle with declining revenues and mounting losses in a fiercely competitive market, the government is finally exploring the option of shutting down the debt-laden firm and monetise its land, buildings and tower business.
* MOSER BAER INDIA: Bids for the assets of bankrupt Moser Baer Solar, a subsidiary of the company are likely to be invited this week, according to resolution professional Arvind Garg.
* MOTHERSON SUMI SYSTEMS: Is in an advanced stage of sealing at least three more acquisitions in the next 5-6 months.
* NAGARJUNA OIL REFINERY: The 47-bln-rupee project of the company at Cuddalore has entered the liquidation process under the Insolvency and Bankruptcy Code after the 270-day deadline, offered by the National Company Law Tribunal to identify a successful bidder, ended on Friday.
* NTPC: Will substitute thermal power that it had committed to supply to its consumers with cheaper renewable power after the ministry of power tweaked norms to allow the same.
* ORCHID PHARMA: The committee of creditors has rejected all the three bids for the company.
* PHOENIX MILLS: Subsidiary Island Star Mall Developers has acquired a land parcel in Hebbal, Bengaluru for 6.5 bln rupees.
* PUNJAB NATIONAL BANK: Passports of 150 wilful defaulters have been impounded based on its complaints in the past few months. The bank has intensified its efforts in accordance with the RBI's directions to name and shame wilful defaulters.
-The government has intervened in the bankruptcy proceedings of Nirav Modi firms in the US to protect the interests of the bank, Union Minister P.P. Chaudhary said.
-Has moved Hong Kong High Court against diamond trader Nirav Modi in connection with the multi-crore scam at Mumbai's Brady House branch of the bank.
* RELIANCE INDUSTRIES: Has refuted reports of the tax department widening its probe into foreign direct investments worth 65 bln rupees by Biometrix Marketing in companies belonging to the petrochemical major.
* RUCHI SOYA INDUSTRIES: Ramdev-led Patanjali Ayurved has placed a 90-bln-rupee bid to acquire the debt-ridden the company through the ongoing insolvency process under the National Company Law Tribunal.
* SJVN LTD: The company and THDC India have renewed their annual memorandum of understanding with the Ministry of Power.
* SUZLON ENERGY: The SEBI has imposed a penalty of 11 mln rupees on the company for violating insider trading norms.
