Today Stock News – 27.09.2018
* APOLLO HOSPITALS ENTERPRISE: OppenheimerFunds Inc has sold 1% stake or 1.4 mln shares of the company at 1,044.23 rupees apiece through a bulk deal on the BSE .
* BSE: Has received the Securities and Exchange Board of India's approval to launch 1-kg gold and 30-kgsilver contracts from October.
* EICHER MOTORS: Some workers at the company's Royal Enfield-manufacturing facility near Chennai did not report for work in the last couple of days, though they were present at the facility. Royal Enfield has announced the global launch of its two new motorcycle models, Continental GT 650 and the Interceptor INT 650 priced between $5,799 and $6,749.
* FORTIS HEALTHCARE: The Competition Commission of India is likely to give its approval to the Fortis-IHH deal by the end of October.
* FUTURE SUPPLY CHAIN SOLUTIONS: Raised 1.99 bln rupees by issuing secured non-convertible debentures at a coupon of 10.15%.
* HCL TECHNOLOGIES: UK-based Anglo American has renewed its infrastructure services contract with the company for five years.
* HERO MOTOCORP: Has raised ex-showroom prices of its motorcycles and scooters by up to 900 rupees, effective from Wednesday.
* HINDUSTAN UNILEVER: The company and NESTLE INDIA plan to selectively increase prices of their products to take into account higher crude oil and petrol costs, the rupee's depreciation against the dollar and more expensive commodities such as wheat.
* IDBI BANK: Has invited bids for sale of shares held by the bank in 17 unlisted companies.
* IL&FS TRANSPORTATION NETWORKS: Has said it owes 1.55 bln rupees to Aditya Birla Finance.
* INDIA TOURISM DEVELOPMENT CORP: The Union Cabinet approved transfer of two hotel
properties of the company to state governments.
* JET AIRWAYS INDIA: Has told some of its employees it will be able to pay the balance salary for
August only in October. Is looking to phase out ATRs, its short-haul regional aircraft, from its fleet
completely by 2024.
* LUPIN: Has started a strategic review of its Japanese operations as the Indian pharmaceutical company seeks to focus on higher-growth areas.
* MAHINDRA & MAHINDRA: Is working on a new tractor that costs less than 200,000 rupees.
* NATCO PHARMA: Has acquired a minority stake in Veda Seed Sciences by investing about 79 mln rupees.
* NATIONAL ALUMINIUM CO: Has pledged an investment of 5.52 bln rupees on a major downstream complex at Kamkhyanagar in Dhenkanal.
* NBCC (INDIA): The company has received an in-principle approval from Air India to monetise the
latter's land parcels at Connaught Place and Vasant Vihar in Delhi.
* NMDC: Is planning a capital expenditure of 31.8 bln rupees in 2018-19 (Apr-Mar), and most of it will go towards the upcoming steel plant, N. Baijendra Kumar, chairman and managing director of the company said. Has hiked iron ore prices by 200-300 rupees per tn for October, effective Wednesday, because demand has increased from domestic steel mills, Director (Commercial) T.R.K. Rao told.
* OIL & NATURAL GAS CORP: INDIAN OIL CORP, and the company are in talks to buy 25% stake in GSPC LNG that owns upcoming 5 mln tn per annum liquefied natural gas terminal at Mundra in Gujarat.
* ORIENTAL HOTELS: Board of the company has approved the sale of its hotel The Gateway Hotel at Visakhapatnam.
* RELIANCE INDUSTRIES: Has entered into a partnership with VARDHMAN TEXTILES to
manufacture R|Elan fabric.
* RUCHI SOYA INDUSTRIES: Standard Chartered Bank has moved the National Company Law Tribunal, seeking to convert its $52.5-mln outstanding dues from the company into financial debt from operational debt.
* RURAL ELECTRIFICATION CORP: Has approved a proposal to incorporate a special purpose vehicle for the construction of 400 kV transmission line from Udupi in Karnataka, to Kasargod in Kerala, and a substation at Kasargod.
* SANWARIA CONSUMER: Has been registered under the US Food and Drug Administration, enabling it to enter the US market.
* SML ISUZU: Hopes to surpass its previous domestic and export sales high during this fiscal, supported by the launch of new global series trucks, market penetration and a favourable outlook.
* SPICEJET: The airline has launched daily flights between Pakyong in Sikkim and Kolkata, effective from Oct 4, with Pakyong-Kolkata flight costing 2,680 rupees under Ude Desh ka Aam Naagrik scheme.
* STATE BANK OF INDIA: Chairman Rajnish Kumar said it is convenient to open bank accounts digit ally using Aadhaar. The executive committee of central board of the bank approved divestment of 8.62 mln equity shares or 4% stake in SBI General Insurance Co to Axis New Opportunities AIF-I and Pl Opportunities Fund-I for a total consideration 4.82 bln rupees.
* TATA MOTORS: Stated that its temporary workers had worked for a fixed period of time and were
relieved at the end of their term.
* TATA STEEL: Subsidiary Tata Steel Processing and Distribution is setting up a manufacturing unit at an investment of 920 mln rupees for which it has received the investment approval from the government of Odisha. The company's plan to acquire the steel division of USHA MARTIN is expected to contribute 3.5% to the standalone earnings before interest, tax, depreciation and amortization by FY20 while being credit neutral.
* TD POWER SYSTEMS: Has approved buyback of up to 1.17 mln shares at a price not exceeding 256 rupees apiece for an amount aggregating to 300 mln rupees.
* TORRENT POWER: Won the bid to set up a 115-MW wind power project, in the e-reverse auction
conducted by Solar Energy Corp of India Ltd for setting up 1,200 MW wind power projects.
* VIJAYA BANK: Board of directors will meet on Saturday to consider the proposal for amalgamation with BANK OF BARODA and DENA BANK
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* BSE: Has received the Securities and Exchange Board of India's approval to launch 1-kg gold and 30-kgsilver contracts from October.
* EICHER MOTORS: Some workers at the company's Royal Enfield-manufacturing facility near Chennai did not report for work in the last couple of days, though they were present at the facility. Royal Enfield has announced the global launch of its two new motorcycle models, Continental GT 650 and the Interceptor INT 650 priced between $5,799 and $6,749.
* FORTIS HEALTHCARE: The Competition Commission of India is likely to give its approval to the Fortis-IHH deal by the end of October.
* FUTURE SUPPLY CHAIN SOLUTIONS: Raised 1.99 bln rupees by issuing secured non-convertible debentures at a coupon of 10.15%.
* HCL TECHNOLOGIES: UK-based Anglo American has renewed its infrastructure services contract with the company for five years.
* HERO MOTOCORP: Has raised ex-showroom prices of its motorcycles and scooters by up to 900 rupees, effective from Wednesday.
* HINDUSTAN UNILEVER: The company and NESTLE INDIA plan to selectively increase prices of their products to take into account higher crude oil and petrol costs, the rupee's depreciation against the dollar and more expensive commodities such as wheat.
* IDBI BANK: Has invited bids for sale of shares held by the bank in 17 unlisted companies.
* IL&FS TRANSPORTATION NETWORKS: Has said it owes 1.55 bln rupees to Aditya Birla Finance.
* INDIA TOURISM DEVELOPMENT CORP: The Union Cabinet approved transfer of two hotel
properties of the company to state governments.
* JET AIRWAYS INDIA: Has told some of its employees it will be able to pay the balance salary for
August only in October. Is looking to phase out ATRs, its short-haul regional aircraft, from its fleet
completely by 2024.
* LUPIN: Has started a strategic review of its Japanese operations as the Indian pharmaceutical company seeks to focus on higher-growth areas.
* MAHINDRA & MAHINDRA: Is working on a new tractor that costs less than 200,000 rupees.
* NATCO PHARMA: Has acquired a minority stake in Veda Seed Sciences by investing about 79 mln rupees.
* NATIONAL ALUMINIUM CO: Has pledged an investment of 5.52 bln rupees on a major downstream complex at Kamkhyanagar in Dhenkanal.
* NBCC (INDIA): The company has received an in-principle approval from Air India to monetise the
latter's land parcels at Connaught Place and Vasant Vihar in Delhi.
* NMDC: Is planning a capital expenditure of 31.8 bln rupees in 2018-19 (Apr-Mar), and most of it will go towards the upcoming steel plant, N. Baijendra Kumar, chairman and managing director of the company said. Has hiked iron ore prices by 200-300 rupees per tn for October, effective Wednesday, because demand has increased from domestic steel mills, Director (Commercial) T.R.K. Rao told.
* OIL & NATURAL GAS CORP: INDIAN OIL CORP, and the company are in talks to buy 25% stake in GSPC LNG that owns upcoming 5 mln tn per annum liquefied natural gas terminal at Mundra in Gujarat.
* ORIENTAL HOTELS: Board of the company has approved the sale of its hotel The Gateway Hotel at Visakhapatnam.
* RELIANCE INDUSTRIES: Has entered into a partnership with VARDHMAN TEXTILES to
manufacture R|Elan fabric.
* RUCHI SOYA INDUSTRIES: Standard Chartered Bank has moved the National Company Law Tribunal, seeking to convert its $52.5-mln outstanding dues from the company into financial debt from operational debt.
* RURAL ELECTRIFICATION CORP: Has approved a proposal to incorporate a special purpose vehicle for the construction of 400 kV transmission line from Udupi in Karnataka, to Kasargod in Kerala, and a substation at Kasargod.
* SANWARIA CONSUMER: Has been registered under the US Food and Drug Administration, enabling it to enter the US market.
* SML ISUZU: Hopes to surpass its previous domestic and export sales high during this fiscal, supported by the launch of new global series trucks, market penetration and a favourable outlook.
* SPICEJET: The airline has launched daily flights between Pakyong in Sikkim and Kolkata, effective from Oct 4, with Pakyong-Kolkata flight costing 2,680 rupees under Ude Desh ka Aam Naagrik scheme.
* STATE BANK OF INDIA: Chairman Rajnish Kumar said it is convenient to open bank accounts digit ally using Aadhaar. The executive committee of central board of the bank approved divestment of 8.62 mln equity shares or 4% stake in SBI General Insurance Co to Axis New Opportunities AIF-I and Pl Opportunities Fund-I for a total consideration 4.82 bln rupees.
* TATA MOTORS: Stated that its temporary workers had worked for a fixed period of time and were
relieved at the end of their term.
* TATA STEEL: Subsidiary Tata Steel Processing and Distribution is setting up a manufacturing unit at an investment of 920 mln rupees for which it has received the investment approval from the government of Odisha. The company's plan to acquire the steel division of USHA MARTIN is expected to contribute 3.5% to the standalone earnings before interest, tax, depreciation and amortization by FY20 while being credit neutral.
* TD POWER SYSTEMS: Has approved buyback of up to 1.17 mln shares at a price not exceeding 256 rupees apiece for an amount aggregating to 300 mln rupees.
* TORRENT POWER: Won the bid to set up a 115-MW wind power project, in the e-reverse auction
conducted by Solar Energy Corp of India Ltd for setting up 1,200 MW wind power projects.
* VIJAYA BANK: Board of directors will meet on Saturday to consider the proposal for amalgamation with BANK OF BARODA and DENA BANK
