Today Stock News – 30.10.2018
* ALLAHABAD BANK: Will hike its marginal cost of funds-based lending rates by 5 basis points, across tenures, from Thursday.
* ARVIND LTD: The listing of the brands and engineering businesses of the company will be done in
January, Kulin Lalbhai, executive director, said.
* BHARTI AIRTEL: Has said that there was no change in plan to list Airtel Africa.
* COFFEE DAY ENTERPRISES: The board of directors has approved raising up to 1 bln rupees through issuance of secured non-convertible debentures.
* COSMO FILMS: Has launched a metalised velvet lamination film for luxury packing segment.
* EQUITAS HOLDINGS: SBI Mutual Fund has sold 2.36% stake in the company through open market on Friday.
* HDFC BANK: The Reserve Bank of India has approved the reappointment of Aditya Puri as managing director and chief executive officer of the bank till Oct 26, 2020.
* HOTEL LEELAVENTURE: The Bombay High Court has refused to interfere in the company's plea against eviction proceedings initiated by the Airports Authority of India.
* HOUSING DEVELOPMENT FINANCE CORP: Plans to raise 12.35 bln rupees through bonds maturing in 10 years.
* HSIL: Has received exclusive distribution rights to market kitchen and furniture products of Italy-based Formenti E Giovenzana in India.
* IFCI: Extended the date to detail its Jul-Sep earnings by one month. Will now release results on or before Dec 14.
* JET AIRWAYS (INDIA): Seeking to raise fresh funds and boost operational efficiencies, the company has appointed Goldman Sachs Group and Boston Consulting Group as advisers to achieve these goals.
* KWALITY: Promoter Sanjay Dhingra has sold 0.99% stake or 2.4 mln shares at 7.05 rupees apiece through a bulk deal in the company on the National Stock Exchange.
* LIC HOUSING FINANCE: Has scrapped the plan to raise up to 7.5 bln rupees through the issuance of three bonds of varying maturities due to high coupon bids.
* LIME CHEMICALS: The company's Roha plant resumed production after contract workers agreed to call off the strike.
* LINC PEN & PLASTICS: Has entered into a pact with China-based Deli to market the latter's products in India from November.
* MINDA CORP: India Ratings and Research has upgraded the company's long-term rating to "AA-" from "A+"
* NTPC: Has entered into a 100 bln rupees contract with the Indian Railways for transportation of coal from mines to all its plants through fiscal 2020.
* RANE HOLDINGS: The company's board has given an in-principle approval for the divestment of its entire 48.97% stake in JMA Rane Marketing, a joint venture company.
* RELIANCE COMMUNICATIONS: The telecom department will challenge The Telecom Disputes
Settlement and Appellate Tribunal's order allowing the company to sell spectrum to Reliance Jio without providing bank guarantee.
* SCHAEFFLER INDIA: Has committed a fresh investment of 120 mln euros (10 bln rupees) in its Indian operations over the next three years, as it aims to more than double its business in India to over 1 bln euros in the next five years.
* SHRIRAM TRANSPORT FINANCE CO: Amid weak appetite for debt instruments after default by
Infrastructure Leasing & Financial Services, the public issue of non-convertible debentures of the company was subscribed only 49% on last day for the offer.
* TATA CONSULTANCY SERVICES: Has provided a digital system to Bayer AG to narrow down its divestible crop sciences business.
* TATA POWER CO: The board of the company has approved raising up to 55 bln rupees through nonconvertible debentures in one or more tranches.
* UJJIVAN FINANCIAL SERVICES: Franklin Templeton Mutual Fund has bought 10.5 mln shares or 0.86% stake in the company at 184.44 rupees a share through a bulk deal on the National Stock Exchange.
* USHA MARTIN: Prashant Jhawar, former chairman of the company, who had earlier disapproved the sale of steel business to TATA STEEL, will back the resolution in the upcoming shareholders' meeting slated for the next month.
* VEDANTA: The Supreme Court has issued a notice to the company and others challenging the company's eligibility to bid for ELECTROSTEEL STEELS on the ground that one of the former's affiliates has been found guilty of criminal misconduct in Africa.
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* ARVIND LTD: The listing of the brands and engineering businesses of the company will be done in
January, Kulin Lalbhai, executive director, said.
* BHARTI AIRTEL: Has said that there was no change in plan to list Airtel Africa.
* COFFEE DAY ENTERPRISES: The board of directors has approved raising up to 1 bln rupees through issuance of secured non-convertible debentures.
* COSMO FILMS: Has launched a metalised velvet lamination film for luxury packing segment.
* EQUITAS HOLDINGS: SBI Mutual Fund has sold 2.36% stake in the company through open market on Friday.
* HDFC BANK: The Reserve Bank of India has approved the reappointment of Aditya Puri as managing director and chief executive officer of the bank till Oct 26, 2020.
* HOTEL LEELAVENTURE: The Bombay High Court has refused to interfere in the company's plea against eviction proceedings initiated by the Airports Authority of India.
* HOUSING DEVELOPMENT FINANCE CORP: Plans to raise 12.35 bln rupees through bonds maturing in 10 years.
* HSIL: Has received exclusive distribution rights to market kitchen and furniture products of Italy-based Formenti E Giovenzana in India.
* IFCI: Extended the date to detail its Jul-Sep earnings by one month. Will now release results on or before Dec 14.
* JET AIRWAYS (INDIA): Seeking to raise fresh funds and boost operational efficiencies, the company has appointed Goldman Sachs Group and Boston Consulting Group as advisers to achieve these goals.
* KWALITY: Promoter Sanjay Dhingra has sold 0.99% stake or 2.4 mln shares at 7.05 rupees apiece through a bulk deal in the company on the National Stock Exchange.
* LIC HOUSING FINANCE: Has scrapped the plan to raise up to 7.5 bln rupees through the issuance of three bonds of varying maturities due to high coupon bids.
* LIME CHEMICALS: The company's Roha plant resumed production after contract workers agreed to call off the strike.
* LINC PEN & PLASTICS: Has entered into a pact with China-based Deli to market the latter's products in India from November.
* MINDA CORP: India Ratings and Research has upgraded the company's long-term rating to "AA-" from "A+"
* NTPC: Has entered into a 100 bln rupees contract with the Indian Railways for transportation of coal from mines to all its plants through fiscal 2020.
* RANE HOLDINGS: The company's board has given an in-principle approval for the divestment of its entire 48.97% stake in JMA Rane Marketing, a joint venture company.
* RELIANCE COMMUNICATIONS: The telecom department will challenge The Telecom Disputes
Settlement and Appellate Tribunal's order allowing the company to sell spectrum to Reliance Jio without providing bank guarantee.
* SCHAEFFLER INDIA: Has committed a fresh investment of 120 mln euros (10 bln rupees) in its Indian operations over the next three years, as it aims to more than double its business in India to over 1 bln euros in the next five years.
* SHRIRAM TRANSPORT FINANCE CO: Amid weak appetite for debt instruments after default by
Infrastructure Leasing & Financial Services, the public issue of non-convertible debentures of the company was subscribed only 49% on last day for the offer.
* TATA CONSULTANCY SERVICES: Has provided a digital system to Bayer AG to narrow down its divestible crop sciences business.
* TATA POWER CO: The board of the company has approved raising up to 55 bln rupees through nonconvertible debentures in one or more tranches.
* UJJIVAN FINANCIAL SERVICES: Franklin Templeton Mutual Fund has bought 10.5 mln shares or 0.86% stake in the company at 184.44 rupees a share through a bulk deal on the National Stock Exchange.
* USHA MARTIN: Prashant Jhawar, former chairman of the company, who had earlier disapproved the sale of steel business to TATA STEEL, will back the resolution in the upcoming shareholders' meeting slated for the next month.
* VEDANTA: The Supreme Court has issued a notice to the company and others challenging the company's eligibility to bid for ELECTROSTEEL STEELS on the ground that one of the former's affiliates has been found guilty of criminal misconduct in Africa.
