Today Stock News – 25.09.2018
* ADLABS ENTERTAINMENT: Has signed a memorandum of understanding with Riverbay group to develop and operate a new entertainment park at Amaravathi in Andhra Pradesh.
* APOLLO TYRES: Has started commercial production of its Apollo brand of truck tyres at its Hungarianfacility.
* AUTOLINE INDUSTRIES: Subsidiary Autoline Industrial Parks has entered into an agreement with Poddar Habitat, a subsidiary of PODDAR HOUSING AND DEVELOPMENT, to transfer a 102.50-acre land parcel in Mahalunge, Pune.
* CANARA BANK: Board will meet on Thursday to consider raising funds through qualified institutional placement issue.
* DENA BANK: The board of the bank "decided to recommend" the merger of the bank with BANK OF BARODA and VIJAYA BANK, which will create the second largest state-owned bank in the country with a total business of 14.82 trln rupees.
* DEWAN HOUSING FINANCE CORP: Reiterating its strategy of reducing the overall maturity profile of products, DSP Mutual Fund said it has a total exposure of 12.50 bln rupees to the company and had sold only 3 bln rupees worth of papers and that it was not from its Credit Risk Fund product.
* DILIP BUILDCON: Has been declared the lowest bidder by the water resources department of Kota for the 6.01-bln-rupee Navnera Barrage dam project in Rajasthan.
* EICHER MOTORS: About 3,000 workers at the company's factory at Oragadam near Chennai have been on strike since Monday.
* ENDURANCE TECHNOLOGIES: Commenced production at its new plant in Halol, Gujarat, from Sep 1.
* ENTERTAINMENT NETWORK (INDIA): Has commenced broadcasting at Hubli-Dharwad in
Karnataka from its radio station, 98.3 FM, that it acquired under phase 3 auctions.
* ELECTROSTEEL STEELS: The board has approved the proposal to delist the company.
* HOUSING DEVELOPMENT FINANCE CORP: Is not facing any forensic audit, as has been speculated by some market participants.
* ICICI BANK: The committee of executive directors of the bank has approved a proposed offshore
borrowing through issuance of debt instruments, including certificates of deposit.
Has moved the National Company Law Tribunal seeking initiation of insolvency proceedings against Essar Power MP that runs the 1,200-MW Mahan plant.
* INDUSIND BANK: The bank's acquisition of IL&FS Securities and Services is "progressing apace" and the timelines the bank had specified for the transaction in June are "broadly on track".
* INFOSYS: Subsidiary Infosys Public Services Inc received a contract worth Canadian $80.3 mln (around 4.51 bln rupees) from Public Services and Procurement Canada to modernise and automate their procurement processes. Australian Military Bank has implemented the company's Finacle banking solutions for its digital transformation programme. Has won $700-mln deal from US-based telecom company Verizon.
* JSW ENERGY: General Motors Co may exit India, with the US-based carmaker in advanced talks with the company to sell its last remaining car factory in the country for about 35 bln rupees.
* KAJARIA CERAMICS: Board has approved acquisition of the remaining 30% stake or 3 mln shares in the company's subsidiary Kajaria Floera Ceramics for 30 mln rupees. Board has also proposed investment of up to $1 mln to set up a new wholly-owned subsidiary in the US to market vitrified tiles.
* KWALITY: IFCI had invoked 80,000 shares in the company, pledged by promoter Sanjay Dhingra, on Sep 17.
* LANCO INFRATECH: Lenders have launched insolvency petitions against various power subsidiaries of the company in a late attempt to realise the potential value of individual power assets, most of which are under construction.
* LARSEN & TOUBRO: L&T Metro Rail (Hyderabad) has started services on the second route in
Hyderabad, connecting the 16-km stretch between L.B. Nagar and Ameerpet.
* MAJESCO: Cannon Cochran Management Services Inc has selected Majesco Policy and Billing for P&C on co's CloudInsurer and co's Insurance Data and Analytics platforms.
* MANGALAM DRUGS & ORGANICS: Has received the World Health Organization's final approval for Efavirenz drug, used to treat human immunodeficiency virus.
* MARICO: Has launched a new brand, True Roots, that delays hair greying from the roots.
* MONSANTO INDIA: Appointed Cherukuri Ravishankar as the managing director for its businesses across India, Bangladesh, and Sri Lanka.
* OIL & NATURAL GAS CORP: Is looking at all possible ways to boost its coffers, including seeking an upward revision of the post-wellhead cost to reduce its royalty outgo on crude oil produced from nomination blocks.
* PRESTIGE ESTATES PROJECTS: Is in talks to enter into a partnership with Nirmal Lifestyle to jointly develop a 1-mln-sq-ft mall in Mulund suburb of Mumbai.
* RELIANCE INDUSTRIES: May buy 4.99% more stake in Eros International Plc.
* SADHANA NITRO CHEM: Board has approved subdivision of one share of face value 10 rupees each into two shares of face value 5 rupees each.
* SBI LIFE INSURANCE CO: BNP Paribas Cardif may consider reducing its stake in the company to comply with minimum public shareholding requirements.
* SPICEJET: Will launch daily direct flights on Delhi-Shirdi, Mumbai-Kanpur and Mumbai-Jaisalmer routes.
* TATA CONSULTANCY SERVICES: Three US citizens from two different companies have sued the company, alleging discrimination based on race and national origin, and are seeking exemplary and punitive damages.
* TATA STEEL: Has alleged that it was wrong on the part of the National Company Law Tribunal to allow the late bid submitted by Liberty House for Bhushan Power and Steel.
* TVS MOTOR CO: Has launched a new variant of its commuter motorcycle brand TVS StaR City+ for the festive season, priced at 52,907 rupees, ex-showroom Delhi.
* YES BANK: The board of directors to meet to appoint a successor for Managing Director and CEO, Rana Kapoor.
* ZENSAR TECHNOLOGIES: Has received an order from UK-based investment management company Ruffer LLP to manage its end-to-end technology infrastructure requirements and build a responsive, marketready and customer-centric service information technology framework.
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* APOLLO TYRES: Has started commercial production of its Apollo brand of truck tyres at its Hungarianfacility.
* AUTOLINE INDUSTRIES: Subsidiary Autoline Industrial Parks has entered into an agreement with Poddar Habitat, a subsidiary of PODDAR HOUSING AND DEVELOPMENT, to transfer a 102.50-acre land parcel in Mahalunge, Pune.
* CANARA BANK: Board will meet on Thursday to consider raising funds through qualified institutional placement issue.
* DENA BANK: The board of the bank "decided to recommend" the merger of the bank with BANK OF BARODA and VIJAYA BANK, which will create the second largest state-owned bank in the country with a total business of 14.82 trln rupees.
* DEWAN HOUSING FINANCE CORP: Reiterating its strategy of reducing the overall maturity profile of products, DSP Mutual Fund said it has a total exposure of 12.50 bln rupees to the company and had sold only 3 bln rupees worth of papers and that it was not from its Credit Risk Fund product.
* DILIP BUILDCON: Has been declared the lowest bidder by the water resources department of Kota for the 6.01-bln-rupee Navnera Barrage dam project in Rajasthan.
* EICHER MOTORS: About 3,000 workers at the company's factory at Oragadam near Chennai have been on strike since Monday.
* ENDURANCE TECHNOLOGIES: Commenced production at its new plant in Halol, Gujarat, from Sep 1.
* ENTERTAINMENT NETWORK (INDIA): Has commenced broadcasting at Hubli-Dharwad in
Karnataka from its radio station, 98.3 FM, that it acquired under phase 3 auctions.
* ELECTROSTEEL STEELS: The board has approved the proposal to delist the company.
* HOUSING DEVELOPMENT FINANCE CORP: Is not facing any forensic audit, as has been speculated by some market participants.
* ICICI BANK: The committee of executive directors of the bank has approved a proposed offshore
borrowing through issuance of debt instruments, including certificates of deposit.
Has moved the National Company Law Tribunal seeking initiation of insolvency proceedings against Essar Power MP that runs the 1,200-MW Mahan plant.
* INDUSIND BANK: The bank's acquisition of IL&FS Securities and Services is "progressing apace" and the timelines the bank had specified for the transaction in June are "broadly on track".
* INFOSYS: Subsidiary Infosys Public Services Inc received a contract worth Canadian $80.3 mln (around 4.51 bln rupees) from Public Services and Procurement Canada to modernise and automate their procurement processes. Australian Military Bank has implemented the company's Finacle banking solutions for its digital transformation programme. Has won $700-mln deal from US-based telecom company Verizon.
* JSW ENERGY: General Motors Co may exit India, with the US-based carmaker in advanced talks with the company to sell its last remaining car factory in the country for about 35 bln rupees.
* KAJARIA CERAMICS: Board has approved acquisition of the remaining 30% stake or 3 mln shares in the company's subsidiary Kajaria Floera Ceramics for 30 mln rupees. Board has also proposed investment of up to $1 mln to set up a new wholly-owned subsidiary in the US to market vitrified tiles.
* KWALITY: IFCI had invoked 80,000 shares in the company, pledged by promoter Sanjay Dhingra, on Sep 17.
* LANCO INFRATECH: Lenders have launched insolvency petitions against various power subsidiaries of the company in a late attempt to realise the potential value of individual power assets, most of which are under construction.
* LARSEN & TOUBRO: L&T Metro Rail (Hyderabad) has started services on the second route in
Hyderabad, connecting the 16-km stretch between L.B. Nagar and Ameerpet.
* MAJESCO: Cannon Cochran Management Services Inc has selected Majesco Policy and Billing for P&C on co's CloudInsurer and co's Insurance Data and Analytics platforms.
* MANGALAM DRUGS & ORGANICS: Has received the World Health Organization's final approval for Efavirenz drug, used to treat human immunodeficiency virus.
* MARICO: Has launched a new brand, True Roots, that delays hair greying from the roots.
* MONSANTO INDIA: Appointed Cherukuri Ravishankar as the managing director for its businesses across India, Bangladesh, and Sri Lanka.
* OIL & NATURAL GAS CORP: Is looking at all possible ways to boost its coffers, including seeking an upward revision of the post-wellhead cost to reduce its royalty outgo on crude oil produced from nomination blocks.
* PRESTIGE ESTATES PROJECTS: Is in talks to enter into a partnership with Nirmal Lifestyle to jointly develop a 1-mln-sq-ft mall in Mulund suburb of Mumbai.
* RELIANCE INDUSTRIES: May buy 4.99% more stake in Eros International Plc.
* SADHANA NITRO CHEM: Board has approved subdivision of one share of face value 10 rupees each into two shares of face value 5 rupees each.
* SBI LIFE INSURANCE CO: BNP Paribas Cardif may consider reducing its stake in the company to comply with minimum public shareholding requirements.
* SPICEJET: Will launch daily direct flights on Delhi-Shirdi, Mumbai-Kanpur and Mumbai-Jaisalmer routes.
* TATA CONSULTANCY SERVICES: Three US citizens from two different companies have sued the company, alleging discrimination based on race and national origin, and are seeking exemplary and punitive damages.
* TATA STEEL: Has alleged that it was wrong on the part of the National Company Law Tribunal to allow the late bid submitted by Liberty House for Bhushan Power and Steel.
* TVS MOTOR CO: Has launched a new variant of its commuter motorcycle brand TVS StaR City+ for the festive season, priced at 52,907 rupees, ex-showroom Delhi.
* YES BANK: The board of directors to meet to appoint a successor for Managing Director and CEO, Rana Kapoor.
* ZENSAR TECHNOLOGIES: Has received an order from UK-based investment management company Ruffer LLP to manage its end-to-end technology infrastructure requirements and build a responsive, marketready and customer-centric service information technology framework.
