Today Stock News – 24.09.2018
* ADANI PORTS AND SPECIAL ECONOMIC ZONE: Dighi Port has received expression of interest from 10 parties including JSW Infrastructure and the company among domestic private port companies.
* ADHUNIK INDUSTRIES: The Securities and Exchange Board of India has directed stock exchanges to appoint a forensic auditor to examine the charges of financial misrepresentation against the company.
* BAJAJ HINDUSTHAN SUGAR: The Vanguard Group owned Vanguard Emerging Markets Stock Index has sold 0.50% stake in the company in a bulk deal on the National Stock Exchange.
* BANK OF INDIA: Has decided to shut down two branches in the UK and has put shares in three
companies on the block as part of its efforts to free up capital and monetise assets.
* BAYER CROPSCIENCE: The board has set up a committee to evaluate the integration of the company and MONSANTO INDIA.
* BHARTI AIRTEL: Will start doorstep delivery of premium smartphones iPhone XS and iPhone XS Max from Sep 28 in 20-25 cities.
* BIOCON: The European Medicines Agency's Committee for Medical Products for Human Use has
recommended approval of Fulphila, a biosimilar of Amgen's Neulasta (pegfilgrastim). The US Food and Drug Administration has issued no observations for the company's drug substance manufacturing unit in Bengaluru.
* BRITANNIA INDUSTRIES: will look at expanding its dairy and bakery businesses, before turning its attention towards new food categories.
* COCHIN SHIPYARD: The board will meet on Oct 8 to consider the proposal of buyback of shares of the company.
* DEWAN HOUSING FINANCE CORP: DSP Mutual Fund has sold papers of the company, in line with its strategy to reduce its overall maturity profile given the rise in interest rates, not because of concern regarding the housing finance company's management, the fund house's chairman Hemendra Kothari said.
* EMAMI PAPER MILLS: The company has announced investment of 10 bln rupees in Gujarat to set up a 225,000 tn per annum multilayer coated packaging board manufacturing plant along with a captive power plant at the Saykha industrial area.
* FEDERAL BANK: Unicorn India Ventures has brought on board the bank as the anchor investor for its maiden venture debt fund.
* GARDEN SILK MILLS: CORPORATION BANK has filed an application before the National Company Law Tribunal to initiate the insolvency process against the company.
* GRANULES INDIA: National Stock Exchange of India will stop derivatives trading in the company and HINDUSTAN CONSTRUCTION CO from Nov 30.
* GODREJ AGROVET: Subsidiary Creamline Dairy Products is strengthening its presence in Tamil Nadu through its value-added product Jersey Thickshake, targeted at on-the-go consumers.
* HINDALCO INDUSTRIES: Is evaluating opportunities for making value added products of aluminum, Chairman Kumar Mangalam Birla told shareholders. The outlook for aluminium prices is "very bullish", the company's Chairman Kumar Mangalam Birla said. The company has received shareholders approval to raise 60 bln rupees through non-convertible debentures.
* HINDUSTAN PETROLEUM CORP: Has signed a long-term agreement with HPCL-Mittal Energy to operate and maintain its newly-commissioned bitumen terminal.
* ICICI BANK: The bank will acquire an 8.85% stake in Avenues Payment India for 100.1 mln rupees.
* IL&FS INVESTMENT MANAGERS: A day after Ramesh Bawa resigned as the managing director and chief executive officer of IL&FS Financial Services, he has now stepped down as the managing director of the company.
* IL&FS TRANSPORTATION NETWORKS: In a bid to monetise project assets and generate liquidity, the company has relinquished Dilip Bhatia from his responsibilities as the chief financial officer, and designated him as chief strategy officer for the divestment of assets and other strategic initiatives.
* INDIABULLS HOUSING FINANCE: Plans to raise about 20 bln rupees by selling commercial paper and bonds.
* INDIABULLS REAL ESTATE: JNL Mellon Capital Management Emerging Markets Index Fund has acquired 0.83% stake in the company through a bulk deal on the National Stock Exchange.
* INDIA CEMENTS: New derivatives contract of the company will be settled physically.
* INDUSIND BANK: Infrastructure Leasing & Financial Services is still awaiting payment of around 15 bln rupees from the bank, three months after announcing a deal to sell IL&FS Securities Services unit to the bank. Amazon has partnered with the bank and Flexiloans to expand its network of lending partners for sellers of its platform.
* INFOSYS: Has entered into a partnership with Google Cloud to develop digital solutions on Google cloud platform. The company could not provide enough evidence to substantiate that former Chief Financial Officer Rajiv Bansal deleted data from company laptop, leading to dismissal of its claim of breach of agreement by the arbitrator. The RBI has shortlisted five information technology firms including the company and TATA CONSULTANCY SERVICES for implementation of a centralised information and management system for seamless data collection and validations.
* INOX LEISURE: Has started commercial operations of its multiplex in Surat on leave and license
basis. Has terminated a contract with BookMyShow after a payments disagreement.
* ITD CEMENTATION INDIA: Has received two orders worth 8.45 bln rupees from Airports Authority of India and the shipping ministry.
* KARNATAKA BANK: New derivatives contract of the bank will be settled physically.
* KWALITY: Has withdrawn the 800-mln-rupee qualified institutional placement offer with immediate effect.
* NTPC: Shareholders have approved the company's proposal to raise funds up to 120 bln rupees through issue of bonds/debentures on private placement basis.
* OMAXE: Sunil Goel, the second largest shareholder of the company, has filed a petition in the National Company Law Tribunal, accusing elder brother and company chairman and managing director Rohtas Goel of financial mismanagement.
* OIL AND NATURAL GAS CORP: The tax department has slapped subsidiary ONGC Videsh with a service tax demand of 76.66 bln rupees on remittance the firm makes to its overseas subsidiaries for past one decade.
* ORCHID PHARMA: Has received approval from the National Company Law Tribunal, Chennai bench, for resolution plan submitted by US-based Ingen Capital Group.
* PC JEWELLER: New derivatives contract of the company will be settled physically.
* PUNJAB NATIONAL BANK: Mehul Choksi, a co-accused in the bank fraud case, on Friday moved the special Central Bureau of Investigation court here for cancellation of a non-bailable warrant against him claiming he has reasons to believe that his return to India might endanger his life. The economic offences wing of Delhi Police has arrested an assistant general manager of the bank and the owner of a city-based bar and lounge for duping the bank of 75 mln rupees.
* RELIANCE INDUSTRIES: The company's subsidiary Reliance Jio Infocomm has signed a five-year partnership with Star India to stream cricket matches for JioTV and Hotstar subscribers in India.
* SHILPI CABLE TECHNOLOGIES: Has not received approval of the committee of creditors for the resolution plan under the insolvency process as the plan did not receive requisite 66% majority.
* SOLARA ACTIVE PHARMA SCIENCES: Has signed a business transfer agreement for sale of its active pharmaceutical ingredient facility at Mahad in Maharashtra to SEQUENT SCIENTIFIC for 464 mln rupees.
* SOUTH INDIAN BANK: New derivatives contract of the bank will be settled physically. Has hiked its Base Rate by 10 basis points to 10%, effective Thursday.
* STAR CEMENT: SBI Mutual Fund has bought 2.85 mln shares or 0.68% stake in the company on
Wednesday through open market.
* STATE BANK OF INDIA: Has denied rumours that the bank was "wary of lending" to non-banking finance companies amid concerns that some NBFCs including Infrastructure Leasing and Financial Services and DEWAN HOUSING FINANCE CORP are facing liquidity issues.
* SUZLON ENERGY: New derivatives contract of the company will be settled physically.
* TATA STEEL: The company's global depositary receipt price fell sharply by 12.81% on Friday on the London Stock Exchange, even as ThyssenKrupp top executive reiterated that the merger of the European steel operations is progressing well. Has signed a pact to acquire the specialty steel business of Kolkatabased steel and USHA MARTIN for 43-47 bln rupees.
* TD POWER SYSTEMS: The board will meet on Wednesday to consider a proposal for buy back of
equity shares of the company.
* UNITED SPIRITS: The Delhi government has rejected the plea by the company against the ban on the sale of Vat 69 whisky and Smirnoff vodka in the national capital due to use of duplicate barcodes by it.
* VEDANTA: The Tamil Nadu government has asserted that Sterlite Industries' plant in Tuticorin would not be re-opened as its policy decision to seal the unit was in line with people's sentiments.
* WELSPUN ENTERPRISES: The board has approved merger of its promoter company Anjar Road with itself.
* WELSPUN INDIA: The board has approved merger of its promoter company Prasert Multiventure with itself.
* YES BANK: Has paid 380 mln rupees in taxes for domestic remittances.
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* ADHUNIK INDUSTRIES: The Securities and Exchange Board of India has directed stock exchanges to appoint a forensic auditor to examine the charges of financial misrepresentation against the company.
* BAJAJ HINDUSTHAN SUGAR: The Vanguard Group owned Vanguard Emerging Markets Stock Index has sold 0.50% stake in the company in a bulk deal on the National Stock Exchange.
* BANK OF INDIA: Has decided to shut down two branches in the UK and has put shares in three
companies on the block as part of its efforts to free up capital and monetise assets.
* BAYER CROPSCIENCE: The board has set up a committee to evaluate the integration of the company and MONSANTO INDIA.
* BHARTI AIRTEL: Will start doorstep delivery of premium smartphones iPhone XS and iPhone XS Max from Sep 28 in 20-25 cities.
* BIOCON: The European Medicines Agency's Committee for Medical Products for Human Use has
recommended approval of Fulphila, a biosimilar of Amgen's Neulasta (pegfilgrastim). The US Food and Drug Administration has issued no observations for the company's drug substance manufacturing unit in Bengaluru.
* BRITANNIA INDUSTRIES: will look at expanding its dairy and bakery businesses, before turning its attention towards new food categories.
* COCHIN SHIPYARD: The board will meet on Oct 8 to consider the proposal of buyback of shares of the company.
* DEWAN HOUSING FINANCE CORP: DSP Mutual Fund has sold papers of the company, in line with its strategy to reduce its overall maturity profile given the rise in interest rates, not because of concern regarding the housing finance company's management, the fund house's chairman Hemendra Kothari said.
* EMAMI PAPER MILLS: The company has announced investment of 10 bln rupees in Gujarat to set up a 225,000 tn per annum multilayer coated packaging board manufacturing plant along with a captive power plant at the Saykha industrial area.
* FEDERAL BANK: Unicorn India Ventures has brought on board the bank as the anchor investor for its maiden venture debt fund.
* GARDEN SILK MILLS: CORPORATION BANK has filed an application before the National Company Law Tribunal to initiate the insolvency process against the company.
* GRANULES INDIA: National Stock Exchange of India will stop derivatives trading in the company and HINDUSTAN CONSTRUCTION CO from Nov 30.
* GODREJ AGROVET: Subsidiary Creamline Dairy Products is strengthening its presence in Tamil Nadu through its value-added product Jersey Thickshake, targeted at on-the-go consumers.
* HINDALCO INDUSTRIES: Is evaluating opportunities for making value added products of aluminum, Chairman Kumar Mangalam Birla told shareholders. The outlook for aluminium prices is "very bullish", the company's Chairman Kumar Mangalam Birla said. The company has received shareholders approval to raise 60 bln rupees through non-convertible debentures.
* HINDUSTAN PETROLEUM CORP: Has signed a long-term agreement with HPCL-Mittal Energy to operate and maintain its newly-commissioned bitumen terminal.
* ICICI BANK: The bank will acquire an 8.85% stake in Avenues Payment India for 100.1 mln rupees.
* IL&FS INVESTMENT MANAGERS: A day after Ramesh Bawa resigned as the managing director and chief executive officer of IL&FS Financial Services, he has now stepped down as the managing director of the company.
* IL&FS TRANSPORTATION NETWORKS: In a bid to monetise project assets and generate liquidity, the company has relinquished Dilip Bhatia from his responsibilities as the chief financial officer, and designated him as chief strategy officer for the divestment of assets and other strategic initiatives.
* INDIABULLS HOUSING FINANCE: Plans to raise about 20 bln rupees by selling commercial paper and bonds.
* INDIABULLS REAL ESTATE: JNL Mellon Capital Management Emerging Markets Index Fund has acquired 0.83% stake in the company through a bulk deal on the National Stock Exchange.
* INDIA CEMENTS: New derivatives contract of the company will be settled physically.
* INDUSIND BANK: Infrastructure Leasing & Financial Services is still awaiting payment of around 15 bln rupees from the bank, three months after announcing a deal to sell IL&FS Securities Services unit to the bank. Amazon has partnered with the bank and Flexiloans to expand its network of lending partners for sellers of its platform.
* INFOSYS: Has entered into a partnership with Google Cloud to develop digital solutions on Google cloud platform. The company could not provide enough evidence to substantiate that former Chief Financial Officer Rajiv Bansal deleted data from company laptop, leading to dismissal of its claim of breach of agreement by the arbitrator. The RBI has shortlisted five information technology firms including the company and TATA CONSULTANCY SERVICES for implementation of a centralised information and management system for seamless data collection and validations.
* INOX LEISURE: Has started commercial operations of its multiplex in Surat on leave and license
basis. Has terminated a contract with BookMyShow after a payments disagreement.
* ITD CEMENTATION INDIA: Has received two orders worth 8.45 bln rupees from Airports Authority of India and the shipping ministry.
* KARNATAKA BANK: New derivatives contract of the bank will be settled physically.
* KWALITY: Has withdrawn the 800-mln-rupee qualified institutional placement offer with immediate effect.
* NTPC: Shareholders have approved the company's proposal to raise funds up to 120 bln rupees through issue of bonds/debentures on private placement basis.
* OMAXE: Sunil Goel, the second largest shareholder of the company, has filed a petition in the National Company Law Tribunal, accusing elder brother and company chairman and managing director Rohtas Goel of financial mismanagement.
* OIL AND NATURAL GAS CORP: The tax department has slapped subsidiary ONGC Videsh with a service tax demand of 76.66 bln rupees on remittance the firm makes to its overseas subsidiaries for past one decade.
* ORCHID PHARMA: Has received approval from the National Company Law Tribunal, Chennai bench, for resolution plan submitted by US-based Ingen Capital Group.
* PC JEWELLER: New derivatives contract of the company will be settled physically.
* PUNJAB NATIONAL BANK: Mehul Choksi, a co-accused in the bank fraud case, on Friday moved the special Central Bureau of Investigation court here for cancellation of a non-bailable warrant against him claiming he has reasons to believe that his return to India might endanger his life. The economic offences wing of Delhi Police has arrested an assistant general manager of the bank and the owner of a city-based bar and lounge for duping the bank of 75 mln rupees.
* RELIANCE INDUSTRIES: The company's subsidiary Reliance Jio Infocomm has signed a five-year partnership with Star India to stream cricket matches for JioTV and Hotstar subscribers in India.
* SHILPI CABLE TECHNOLOGIES: Has not received approval of the committee of creditors for the resolution plan under the insolvency process as the plan did not receive requisite 66% majority.
* SOLARA ACTIVE PHARMA SCIENCES: Has signed a business transfer agreement for sale of its active pharmaceutical ingredient facility at Mahad in Maharashtra to SEQUENT SCIENTIFIC for 464 mln rupees.
* SOUTH INDIAN BANK: New derivatives contract of the bank will be settled physically. Has hiked its Base Rate by 10 basis points to 10%, effective Thursday.
* STAR CEMENT: SBI Mutual Fund has bought 2.85 mln shares or 0.68% stake in the company on
Wednesday through open market.
* STATE BANK OF INDIA: Has denied rumours that the bank was "wary of lending" to non-banking finance companies amid concerns that some NBFCs including Infrastructure Leasing and Financial Services and DEWAN HOUSING FINANCE CORP are facing liquidity issues.
* SUZLON ENERGY: New derivatives contract of the company will be settled physically.
* TATA STEEL: The company's global depositary receipt price fell sharply by 12.81% on Friday on the London Stock Exchange, even as ThyssenKrupp top executive reiterated that the merger of the European steel operations is progressing well. Has signed a pact to acquire the specialty steel business of Kolkatabased steel and USHA MARTIN for 43-47 bln rupees.
* TD POWER SYSTEMS: The board will meet on Wednesday to consider a proposal for buy back of
equity shares of the company.
* UNITED SPIRITS: The Delhi government has rejected the plea by the company against the ban on the sale of Vat 69 whisky and Smirnoff vodka in the national capital due to use of duplicate barcodes by it.
* VEDANTA: The Tamil Nadu government has asserted that Sterlite Industries' plant in Tuticorin would not be re-opened as its policy decision to seal the unit was in line with people's sentiments.
* WELSPUN ENTERPRISES: The board has approved merger of its promoter company Anjar Road with itself.
* WELSPUN INDIA: The board has approved merger of its promoter company Prasert Multiventure with itself.
* YES BANK: Has paid 380 mln rupees in taxes for domestic remittances.
