Today Stock News – 14.09.2018
* AMBUJA CEMENTS: On Wednesday moved the Supreme Court against the National Company Law Appellate Tribunal's ruling that upheld the fair trade regulator Competition Commission of India's order to impose a penalty of 67 bln rupees for alleged cartelisation on 11 manufacturers.
* BALMER LAWRIE & CO: Under the Ministry of Petroleum and Natural Gas, is planning to make a capital expenditure of 1.25 bln rupees in the current financial year.
* BANDHAN BANK: Has dropped out of the race to acquire PNB HOUSING FINANCE, making it one of the major drop-outs.
* BHARAT ELECTRONICS: The Uttar Pradesh government's showcase defence industrial corridor project will get off the ground with a manufacturing facility to be built by the company.
* BHARAT PETROLEUM CORP: Over half of the company's capital expenditure in the current financial year will be used to strengthen its footprint in the petrochemicals business as India looks to catch up with the global average of per capita polymer consumption, Chairman and Managing Director D. Rajkumar said. Will shift its liquefied petroleum gas unit at its Mumbai refinery out of the city as part of measures to strengthen safety.
* BHARATI DEFENCE AND INFRASTRUCTURE: Dissatisfied with Edelweiss Asset Reconstruction Co's resolution plan for the company, the National Company Law Tribunal has directed two other bidders-- ARCS Ship Build Services and non-resident Indian Ricky Nathaniel--to submit their revised plans.
* BSE: Set to launch a new spot trading platform for farm commodities that will set minimum support price of crops as the reserve sale price and guarantee good quality of produce to buyers.
* CENTRAL BANK OF INDIA: Has filed an appeal with the Securities Appellate Tribunal on Tuesday contesting the 300,000-rupee penalty imposed on the bank by the Securities and Exchange Board of India.
* COAL INDIA: Has decided to close, reorganise or convert a majority of its existing mines which are either operationally or commercially unviable and appointed the Indian School of Mines, Dhanbad, to give a report on this. Coal shortage woes of non-power sector are likely to continue till about the end of September, the company has indicated.
* CREATIVE PERIPHERALS AND DISTRIBUTION: Has entered into an agreement with Future Tech Electronics to be the authorised distributor for selling and marketing of Daewoo, Malhotra Electronics, and Indicool brands of light-emitting diode televisions across India.
* CYIENT: Aditya Birla Sun Life Mutual Fund has sold 2.26% stake in the company through open market on Monday.
* DR REDDY'S LABORATORIES: Launched neostigmine methylsulfate injection, a generic of Avadel Legacy Pharmaceuticals LLC's Bloxiverz injection, in the US.
* FORTIS HEALTHCARE: The former promoter of the company, Shivinder Mohan Singh, has moved an application before the principal bench of National Company Law Tribunal to withdraw the case he had filed against his elder brother Malvinder Mohan Singh.
* HDFC STANDARD LIFE INSURANCE CO: Appointed Vibha Padalkar as managing director and chief executive officer for three years.
* HINDUSTAN UNILEVER: Sales and profitability of key categories nearly doubled over the last six years while market capitalisation rose four times to $49 bln.
* ICICI BANK: Shareholders of the bank, at the annual general meeting held in Vadodara, approved the appointment of Sandeep Bakhshi as wholetime director and chief operating officer.
* IDBI BANK: Has kept its marginal cost of funds-based lending rates unchanged at 8.00-8.90%.
* INDIAN OIL CORP: Prices of automobile fuels touched new highs on Thursday in most cities as the company hiked the price of petrol by 13 paise per litre and that of diesel by 11 paise per ltr in Delhi, with corresponding changes in other states.
* JAIN IRRIGATION SYSTEMS: US-based subsidiary Jain Irrigation Inc will acquire cloud-based
platform ETwater.
* JAYPEE INFRATECH: On Wednesday said its Independent Director Lalit Bhasin has resigned from the board.
* LUPIN: Has received the US Food and Drug Administration's approval for atovaquone oral suspension USP in 750 mg equivalence for every 5 ml concentrate.
* MARUTI SUZUKI INDIA: Production at Suzuki Motor Corp's plant in Gujarat has reached 250,000 units per year, helping the company to cut the waiting period for its popular Baleno passenger car.
* MUSIC BROADCAST: The board has appointed Ashit Kukian as chief executive officer of the company effective Wednesday.
* NBCC (INDIA): The Supreme Court on Wednesday appointed the company projects to develop the
stalled projects of the Amrapali Group and directed the Debts Recovery Tribunal to sell the unencumbered commercial properties of the real estate firm.
* OIL & NATURAL GAS CORP: The government hasn't asked the company to subsidise fuel for
consumers, its chairman said, trying to calm investors who fear that an official directive on this might upset the company's earnings.
* RAYMOND: Associate J.K. Investo Trade (India) has purchased Pacific Dunlop Holdings Singapore Pte Ltd's stake in the Sexual Wellbeing business in J.K. Ansell Pvt Ltd for 193.2 mln rupees.
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm has emerged as the fastest 4G operator with an average peak download speed of 22.3 Mbps on its network in August, while IDEA CELLULAR registered the highest upload speed in the month, according to a telecom regulatory report.
* RELIANCE INFRASTRUCTURE: Is planning to deliver prototypes of the hull and turret for the Arjun Mark II main battle tank to the combat vehicle research and development establishment six months ahead of deadline.
* SPICEJET: Has launched four new direct flights on Mumbai-Kanpur, Kolkata-Kanpur, Varanasi-Kolkata and Varanasi-Bengaluru routes.
* STATE BANK OF INDIA: The board has appointed Deputy Managing Director Prashant Kumar as the chief financial officer of the bank with immediate effect.
* SYNDICATE BANK: The board of directors of the bank has approved raising up to 2.50 bln rupees
through the issuance of equity shares to employees under the Employee Stock Purchase Scheme.
* TATA CONSULTANCY SERVICES: Will play a big role in shaping Tata Group's digital strategy,
keeping in line with Chairman N. Chandrasekaran's push for more internal collaboration within the group.
* TATA MOTORS: Plans to put in place a strategy to focus on emerging business opportunities for electric vehicles, shared mobility, fleet and rural markets besides mainstream personal vehicles.
* TATA POWER: Has signed a memorandum of understanding with the Afghanistan government-owned power distribution company Da Afghanistan Bresha Sherkat for distribution, transmission and generation of power in Afghanistan.
* UTTAM GALVA STEELS: ArcelorMittal told the Supreme Court it would lift the escrow on 70 bln
rupees and pay the money owed by the company and KSS Petron, in which L.N. Mittal is classified as a promoter, if it gets to bid successfully for Essar Steel.
* VEDANTA: Has cut the price of aluminium ingots by nearly 1% effective Tuesday.
* WIPRO: Has partnered with San Francisco-headquartered Anaplan to deliver cloud-based enterprise performance management solutions.
* YES BANK: The anti-evasion wing of the goods and services tax department in Mumbai has alleged that the bank evaded central GST dues, through a 'cut and pay' scheme, to the tune of 330 mln rupees.
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* BALMER LAWRIE & CO: Under the Ministry of Petroleum and Natural Gas, is planning to make a capital expenditure of 1.25 bln rupees in the current financial year.
* BANDHAN BANK: Has dropped out of the race to acquire PNB HOUSING FINANCE, making it one of the major drop-outs.
* BHARAT ELECTRONICS: The Uttar Pradesh government's showcase defence industrial corridor project will get off the ground with a manufacturing facility to be built by the company.
* BHARAT PETROLEUM CORP: Over half of the company's capital expenditure in the current financial year will be used to strengthen its footprint in the petrochemicals business as India looks to catch up with the global average of per capita polymer consumption, Chairman and Managing Director D. Rajkumar said. Will shift its liquefied petroleum gas unit at its Mumbai refinery out of the city as part of measures to strengthen safety.
* BHARATI DEFENCE AND INFRASTRUCTURE: Dissatisfied with Edelweiss Asset Reconstruction Co's resolution plan for the company, the National Company Law Tribunal has directed two other bidders-- ARCS Ship Build Services and non-resident Indian Ricky Nathaniel--to submit their revised plans.
* BSE: Set to launch a new spot trading platform for farm commodities that will set minimum support price of crops as the reserve sale price and guarantee good quality of produce to buyers.
* CENTRAL BANK OF INDIA: Has filed an appeal with the Securities Appellate Tribunal on Tuesday contesting the 300,000-rupee penalty imposed on the bank by the Securities and Exchange Board of India.
* COAL INDIA: Has decided to close, reorganise or convert a majority of its existing mines which are either operationally or commercially unviable and appointed the Indian School of Mines, Dhanbad, to give a report on this. Coal shortage woes of non-power sector are likely to continue till about the end of September, the company has indicated.
* CREATIVE PERIPHERALS AND DISTRIBUTION: Has entered into an agreement with Future Tech Electronics to be the authorised distributor for selling and marketing of Daewoo, Malhotra Electronics, and Indicool brands of light-emitting diode televisions across India.
* CYIENT: Aditya Birla Sun Life Mutual Fund has sold 2.26% stake in the company through open market on Monday.
* DR REDDY'S LABORATORIES: Launched neostigmine methylsulfate injection, a generic of Avadel Legacy Pharmaceuticals LLC's Bloxiverz injection, in the US.
* FORTIS HEALTHCARE: The former promoter of the company, Shivinder Mohan Singh, has moved an application before the principal bench of National Company Law Tribunal to withdraw the case he had filed against his elder brother Malvinder Mohan Singh.
* HDFC STANDARD LIFE INSURANCE CO: Appointed Vibha Padalkar as managing director and chief executive officer for three years.
* HINDUSTAN UNILEVER: Sales and profitability of key categories nearly doubled over the last six years while market capitalisation rose four times to $49 bln.
* ICICI BANK: Shareholders of the bank, at the annual general meeting held in Vadodara, approved the appointment of Sandeep Bakhshi as wholetime director and chief operating officer.
* IDBI BANK: Has kept its marginal cost of funds-based lending rates unchanged at 8.00-8.90%.
* INDIAN OIL CORP: Prices of automobile fuels touched new highs on Thursday in most cities as the company hiked the price of petrol by 13 paise per litre and that of diesel by 11 paise per ltr in Delhi, with corresponding changes in other states.
* JAIN IRRIGATION SYSTEMS: US-based subsidiary Jain Irrigation Inc will acquire cloud-based
platform ETwater.
* JAYPEE INFRATECH: On Wednesday said its Independent Director Lalit Bhasin has resigned from the board.
* LUPIN: Has received the US Food and Drug Administration's approval for atovaquone oral suspension USP in 750 mg equivalence for every 5 ml concentrate.
* MARUTI SUZUKI INDIA: Production at Suzuki Motor Corp's plant in Gujarat has reached 250,000 units per year, helping the company to cut the waiting period for its popular Baleno passenger car.
* MUSIC BROADCAST: The board has appointed Ashit Kukian as chief executive officer of the company effective Wednesday.
* NBCC (INDIA): The Supreme Court on Wednesday appointed the company projects to develop the
stalled projects of the Amrapali Group and directed the Debts Recovery Tribunal to sell the unencumbered commercial properties of the real estate firm.
* OIL & NATURAL GAS CORP: The government hasn't asked the company to subsidise fuel for
consumers, its chairman said, trying to calm investors who fear that an official directive on this might upset the company's earnings.
* RAYMOND: Associate J.K. Investo Trade (India) has purchased Pacific Dunlop Holdings Singapore Pte Ltd's stake in the Sexual Wellbeing business in J.K. Ansell Pvt Ltd for 193.2 mln rupees.
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm has emerged as the fastest 4G operator with an average peak download speed of 22.3 Mbps on its network in August, while IDEA CELLULAR registered the highest upload speed in the month, according to a telecom regulatory report.
* RELIANCE INFRASTRUCTURE: Is planning to deliver prototypes of the hull and turret for the Arjun Mark II main battle tank to the combat vehicle research and development establishment six months ahead of deadline.
* SPICEJET: Has launched four new direct flights on Mumbai-Kanpur, Kolkata-Kanpur, Varanasi-Kolkata and Varanasi-Bengaluru routes.
* STATE BANK OF INDIA: The board has appointed Deputy Managing Director Prashant Kumar as the chief financial officer of the bank with immediate effect.
* SYNDICATE BANK: The board of directors of the bank has approved raising up to 2.50 bln rupees
through the issuance of equity shares to employees under the Employee Stock Purchase Scheme.
* TATA CONSULTANCY SERVICES: Will play a big role in shaping Tata Group's digital strategy,
keeping in line with Chairman N. Chandrasekaran's push for more internal collaboration within the group.
* TATA MOTORS: Plans to put in place a strategy to focus on emerging business opportunities for electric vehicles, shared mobility, fleet and rural markets besides mainstream personal vehicles.
* TATA POWER: Has signed a memorandum of understanding with the Afghanistan government-owned power distribution company Da Afghanistan Bresha Sherkat for distribution, transmission and generation of power in Afghanistan.
* UTTAM GALVA STEELS: ArcelorMittal told the Supreme Court it would lift the escrow on 70 bln
rupees and pay the money owed by the company and KSS Petron, in which L.N. Mittal is classified as a promoter, if it gets to bid successfully for Essar Steel.
* VEDANTA: Has cut the price of aluminium ingots by nearly 1% effective Tuesday.
* WIPRO: Has partnered with San Francisco-headquartered Anaplan to deliver cloud-based enterprise performance management solutions.
* YES BANK: The anti-evasion wing of the goods and services tax department in Mumbai has alleged that the bank evaded central GST dues, through a 'cut and pay' scheme, to the tune of 330 mln rupees.
