Today Stock News – 27.07.2018
* ABBOTT INDIA: Has quit the Organisation of Pharmaceuticals Producers of India, a lobby group of foreign pharma companies.
* ADANI PORTS AND SPECIAL ECONOMIC ZONE: Entered into an agreement with GAIL INDIA to provide regasification of liquefied natural gas at the company's proposed Dhamra terminal in Odisha.
* BHUSHAN STEEL: National Company Law Appellate Tribunal has reserved its order on pleas filed by LARSEN & TOUBRO, Bhushan Energy and Neeraj Singhal, the former promoter of the company, in the corporate insolvency case.
* CHOLAMANDALAM INVESTMENT AND FINANCE CO: The board has approved raising up to 115 bln rupees through non-convertible debentures.
-The company has accepted resignation of Executive Vice-Chairman and Managing Director N. Srinivasan, effective Aug 18.
* CITY UNION BANK: Board has approved raising 5 bln rupees through qualified institutional placement.
* GAYATRI PROJECTS: Mentor Capital has bought 1.94% stake in the company through the open market.
* GITANJALI GEMS: A special Prevention of Money Laundering Act court in Mumbai issued fresh summons against diamond traders Nirav Modi and Mehul Choksi to appear before it in the PUNJAB NATIONAL BANK fraud probe, failing which they would be declared fugitive economic offenders.
* HINDALCO INDUSTRIES: US-based subsidiary Novellis has signed an agreement to acquire Aleris Corp for $2.58 bln in a debt finance deal.
* HINDUSTAN PETROLEUM CORP: Cancelled the purchase of an Iranian oil cargo earlier this month after its insurance company refused to provide coverage for the crude because of US sanctions.
* ICICI BANK: The Supreme Court has agreed to hear the bank's appeal against a consumer court's order that asked it to refund 100 mln rupees with interest to Mumbai District Central Co-operative Bank which had invested in fixed deposits.
* IFB INDUSTRIES: Board has approved to acquire the entire industrial laundry equipment business from Ramsons Garment Finishing Equipment and Ramsons Udhyog and its promoter for consideration of 350 mln rupees.
* IL&FS TRANSPORTATION NETWORKS: Cube Highways has initiated talks with the company to acquire its 9.2 km ChenaniNashri road tunnel project in Jammu & Kashmir.
* IRB INFRASTRUCTURE DEVELOPERS: V.D. Mhaiskar, chairman and managing director, said the firm was well poised to garner 46-47 bln rupees construction revenue in FY19.
* JSW STEEL: The company and AION Investments will invest 8.75 bln rupees in Milloret Steel as part of the resolution plan approved by NCLT for MONNET ISPAT & ENERGY to fund working capital, capital expenditure and payment of financial creditors of the company.
* JUBILANT FOODWORKS: Pizza chain Domino's has got caught in the crosshairs of anti-profiteering authorities for not passing on a cut in goods and services tax to consumers.
* JUST DIAL: Acadian Emerging Markets Small-Cap Equity Fund has bought 0.5% stake or 347,853 shares in the company at 565.52 rupees apiece through a bulk deal on the National Stock Exchange.
* KESORAM INDUSTRIES: Refuted allegations of "short-changing" public shareholders and listed the steps taken by the management to save the company from becoming sick or potentially sick over the past few years.
* MERCATOR: Has been declared as the lowest bidder for contracts worth 160 mln rupees.
* RELIGARE ENTERPRISES: Allotted 12.11 mln shares at 52.30 rupees a share to two convertible warrant holders.
* ROLTA INDIA: Its attempt to re-organise about $500 mln of defaulted bonds faces fresh opposition from a group of noteholders demanding an upfront payment before consenting to the restructuring.
* SHRIRAM EPC: The National Company Law Appellate Tribunal has set aside the National Company Law Tribunal's order and closed the corporate insolvency resolution process against the company.
* STATE BANK OF INDIA: Chairman Rajnish Kumar has written to telecom department, seeking leniency over bank guarantee provisioning by RELIANCE COMMUNICATIONS as the company works out modalities to transfer its spectrum to Reliance Jio as part of a sale process.
* TATA GLOBAL BEVERAGES: Tata Starbucks, the joint venture between the company and Starbucks Corp, is looking at smaller Indian cities with population of less than 5 mln to open outlets next fiscal year, said Chief Executive Officer of Tata Starbucks Sumitro Ghosh.
* TRENT: Raised 3 bln rupees through issuance of 3-year non-convertible debentures at 8.75% coupon.
* ULTRATECH CEMENT: The company is exploring the market to raise funds through sale of bonds
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* ADANI PORTS AND SPECIAL ECONOMIC ZONE: Entered into an agreement with GAIL INDIA to provide regasification of liquefied natural gas at the company's proposed Dhamra terminal in Odisha.
* BHUSHAN STEEL: National Company Law Appellate Tribunal has reserved its order on pleas filed by LARSEN & TOUBRO, Bhushan Energy and Neeraj Singhal, the former promoter of the company, in the corporate insolvency case.
* CHOLAMANDALAM INVESTMENT AND FINANCE CO: The board has approved raising up to 115 bln rupees through non-convertible debentures.
-The company has accepted resignation of Executive Vice-Chairman and Managing Director N. Srinivasan, effective Aug 18.
* CITY UNION BANK: Board has approved raising 5 bln rupees through qualified institutional placement.
* GAYATRI PROJECTS: Mentor Capital has bought 1.94% stake in the company through the open market.
* GITANJALI GEMS: A special Prevention of Money Laundering Act court in Mumbai issued fresh summons against diamond traders Nirav Modi and Mehul Choksi to appear before it in the PUNJAB NATIONAL BANK fraud probe, failing which they would be declared fugitive economic offenders.
* HINDALCO INDUSTRIES: US-based subsidiary Novellis has signed an agreement to acquire Aleris Corp for $2.58 bln in a debt finance deal.
* HINDUSTAN PETROLEUM CORP: Cancelled the purchase of an Iranian oil cargo earlier this month after its insurance company refused to provide coverage for the crude because of US sanctions.
* ICICI BANK: The Supreme Court has agreed to hear the bank's appeal against a consumer court's order that asked it to refund 100 mln rupees with interest to Mumbai District Central Co-operative Bank which had invested in fixed deposits.
* IFB INDUSTRIES: Board has approved to acquire the entire industrial laundry equipment business from Ramsons Garment Finishing Equipment and Ramsons Udhyog and its promoter for consideration of 350 mln rupees.
* IL&FS TRANSPORTATION NETWORKS: Cube Highways has initiated talks with the company to acquire its 9.2 km ChenaniNashri road tunnel project in Jammu & Kashmir.
* IRB INFRASTRUCTURE DEVELOPERS: V.D. Mhaiskar, chairman and managing director, said the firm was well poised to garner 46-47 bln rupees construction revenue in FY19.
* JSW STEEL: The company and AION Investments will invest 8.75 bln rupees in Milloret Steel as part of the resolution plan approved by NCLT for MONNET ISPAT & ENERGY to fund working capital, capital expenditure and payment of financial creditors of the company.
* JUBILANT FOODWORKS: Pizza chain Domino's has got caught in the crosshairs of anti-profiteering authorities for not passing on a cut in goods and services tax to consumers.
* JUST DIAL: Acadian Emerging Markets Small-Cap Equity Fund has bought 0.5% stake or 347,853 shares in the company at 565.52 rupees apiece through a bulk deal on the National Stock Exchange.
* KESORAM INDUSTRIES: Refuted allegations of "short-changing" public shareholders and listed the steps taken by the management to save the company from becoming sick or potentially sick over the past few years.
* MERCATOR: Has been declared as the lowest bidder for contracts worth 160 mln rupees.
* RELIGARE ENTERPRISES: Allotted 12.11 mln shares at 52.30 rupees a share to two convertible warrant holders.
* ROLTA INDIA: Its attempt to re-organise about $500 mln of defaulted bonds faces fresh opposition from a group of noteholders demanding an upfront payment before consenting to the restructuring.
* SHRIRAM EPC: The National Company Law Appellate Tribunal has set aside the National Company Law Tribunal's order and closed the corporate insolvency resolution process against the company.
* STATE BANK OF INDIA: Chairman Rajnish Kumar has written to telecom department, seeking leniency over bank guarantee provisioning by RELIANCE COMMUNICATIONS as the company works out modalities to transfer its spectrum to Reliance Jio as part of a sale process.
* TATA GLOBAL BEVERAGES: Tata Starbucks, the joint venture between the company and Starbucks Corp, is looking at smaller Indian cities with population of less than 5 mln to open outlets next fiscal year, said Chief Executive Officer of Tata Starbucks Sumitro Ghosh.
* TRENT: Raised 3 bln rupees through issuance of 3-year non-convertible debentures at 8.75% coupon.
* ULTRATECH CEMENT: The company is exploring the market to raise funds through sale of bonds
