Today Stock News – 31.10.2018
* BASF INDIA: The board has approved transfer of the pigments business of the company to its stepdown subsidiary BASF Colors & Effects India.
* BLUE STAR: The company's board has approved a proposal to set up a new manufacturing facility for water coolers and deep freezers at Wada, Maharashtra, with capital expenditure of 1.15 bln rupees.
* COAL INDIA: The government on Tuesday said it proposes to sell up to 186.22 mln shares or 3% stake in the company through an offer for sale, starting today.
* COLGATE PALMOLIVE INDIA: Global Chief Executive Officer Ian Cook said Ayurveda based
innovation from India has helped US consumer products maker launch similar products in other markets across the world while expressing confidence that its share in the herbal toothpaste segment in the country would continue to grow.
* DEWAN HOUSING FINANCE CORP: Plans to raise up to 15 bln rupees through bonds maturing in three years, and has invited bids for the same on Thursday.
* DR REDDY'S LABORATORIES: Has received a Form 483 with eight observations from the US Food and Drug Administration after the inspection of its formulations manufacturing facility in Duvvada, Visakhapatnam.
* FORTIS HEALTHCARE: Competition Commission of India has given its approval to IHH Healthcare's acquisition of a controlling stake in the company.
* GMR INFRASTRUCTURE: Subsidiary GMR Hyderabad International Airport has entered into a definitive agreement to acquire entire shares held by Mauritius-based Menzies Aviation Cargo (Hyderabad) in Hyderabad Menzies Air Cargo for 597.5 mln rupees.
* GRAPHITE INDIA: The Supreme Court has allowed the company to deposit 5 mln rupees with the
Karnataka State Pollution Control Board as compensation for the pollution caused in the Whitefield area of Bengaluru due to its petroleum coke facility.
* IDFC BANK: Sold more than 24 bln rupees of stressed assets to Edelweiss Asset Reconstruction Co for 6.23 bln rupees, a loss of 75% on the exposure, as it seeks to clean up its books ahead of the pending merger with NBFC Capital First.
* IL&FS ENGINEERING AND CONSTRUCTION CO: K. Ramchand, chairman of the company, has resigned as director of the company with effect from Monday.
* IL&FS TRANSPORTATION NETWORKS: K. Ramchand, managing director of the company, has resigned with effect from Monday.
-Was unable to service its obligations in respect of interest payment of non-convertible debentures due on Monday and Tuesday.
* ITC: Plans to expand its dairy portfolio as it looks at a pan-India presence. The company will add paneer to its portfolio in two months.
* JET AIRWAYS INDIA: Will launch three domestic flights on Bengaluru-Vadodara, Delhi-Vadodara, and Delhi-Coimbatore route and two international flights on Mumbai-Manchester and Pune-Singapore route.
* JUBILANT FOODWORKS: Has started test runs of a Chinese fast food venture.
* KIRLOSKAR OIL ENGINES: The company's wholly-owned subsidiary Kirloskar Capital has received certificate of registration from Reserve Bank of India to commence non-banking finance business.
* KRIDHAN INFRA: Singapore-based subsidiary KH Foges got two orders worth S$24.63 mln or 1.3 bln rupees.
* MAGMA FINCORP: The board of directors will meet on Friday to consider raising of funds through public issue of redeemable non-convertible debentures.
* MUTHOOT CAPITAL SERVICES: Will make higher provisions in the coming quarters in a bid to push up its provision coverage ratio to 50% by the end of 2019-20 (Apr-Mar), Chief Financial Officer Vinod Panicker said.
* MUTHOOT FINANCE: The company has acquired Muthoot Money for 1.10 bln rupees.
* PRIME FOCUS: Board has approved to sell its subsidiary Gener8 India Media Services to the company's arm DNEG Creative Services for 1.31 bln rupees.
* PUNJAB NATIONAL BANK: The Securities and Exchange Board of India has exempted the government from making an open offer for the proposed acquisition of 5.83% stake in the bank in 2018-19 (Apr-Mar).
-Will hike its marginal cost of funds-based lending rates by 5 basis points, across tenures, from Thursday.
* SPICE MOBILITY: Subsidiary Spice Digital has divested its entire 49% stake in Adgyde
Solutions.
* SPICEJET: Directorate General of Civil Aviation on Tuesday reviewed the performance of Boeing 737 MAX 8 aircraft operated by JET AIRWAYS and the company.
* STATE BANK OF INDIA: Will reduce the daily cash withdrawal limit for Classic and Maestro debit cards to 20,000 rupees per day from 40,000 rupees with effect from today.
* TATA STEEL: The European Commission has launched an in-depth probe into a proposed joint venture between the company and German company ThyssenKrupp AG, saying it may reduce competition.
* TCI FINANCE: Board has approved the sale of wholly-owned subsidiary Itag Business Solutions for 5.33 mln rupees.
* UTTAM VALUE STEELS: Prudent ARC, Asset Reconstruction Co, a consortium led by SSG Capital Management and another consortium led by New Zone Intertrade FZE have joined the list of eligible resolution applicants for the company and Uttam Galva Metallics.
* VEDANTA: Aims to expedite its $4-bln capital expenditure plan after it got a 10-year extension in its contract for the prolific Rajasthan oil block and expects there could be an increase in its outlay going ahead based on exploration work.
The finance ministry has started a cost edit of the company's $800 mln-$900-mln pipeline, which carries crude oil from Barmer in Rajasthan to the Jamnagar district in Gujarat.
-Cairn Oil and Gas, a unit of the company, will invest $4 bln in its flagship Barmer oil block in Rajasthan.
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* BLUE STAR: The company's board has approved a proposal to set up a new manufacturing facility for water coolers and deep freezers at Wada, Maharashtra, with capital expenditure of 1.15 bln rupees.
* COAL INDIA: The government on Tuesday said it proposes to sell up to 186.22 mln shares or 3% stake in the company through an offer for sale, starting today.
* COLGATE PALMOLIVE INDIA: Global Chief Executive Officer Ian Cook said Ayurveda based
innovation from India has helped US consumer products maker launch similar products in other markets across the world while expressing confidence that its share in the herbal toothpaste segment in the country would continue to grow.
* DEWAN HOUSING FINANCE CORP: Plans to raise up to 15 bln rupees through bonds maturing in three years, and has invited bids for the same on Thursday.
* DR REDDY'S LABORATORIES: Has received a Form 483 with eight observations from the US Food and Drug Administration after the inspection of its formulations manufacturing facility in Duvvada, Visakhapatnam.
* FORTIS HEALTHCARE: Competition Commission of India has given its approval to IHH Healthcare's acquisition of a controlling stake in the company.
* GMR INFRASTRUCTURE: Subsidiary GMR Hyderabad International Airport has entered into a definitive agreement to acquire entire shares held by Mauritius-based Menzies Aviation Cargo (Hyderabad) in Hyderabad Menzies Air Cargo for 597.5 mln rupees.
* GRAPHITE INDIA: The Supreme Court has allowed the company to deposit 5 mln rupees with the
Karnataka State Pollution Control Board as compensation for the pollution caused in the Whitefield area of Bengaluru due to its petroleum coke facility.
* IDFC BANK: Sold more than 24 bln rupees of stressed assets to Edelweiss Asset Reconstruction Co for 6.23 bln rupees, a loss of 75% on the exposure, as it seeks to clean up its books ahead of the pending merger with NBFC Capital First.
* IL&FS ENGINEERING AND CONSTRUCTION CO: K. Ramchand, chairman of the company, has resigned as director of the company with effect from Monday.
* IL&FS TRANSPORTATION NETWORKS: K. Ramchand, managing director of the company, has resigned with effect from Monday.
-Was unable to service its obligations in respect of interest payment of non-convertible debentures due on Monday and Tuesday.
* ITC: Plans to expand its dairy portfolio as it looks at a pan-India presence. The company will add paneer to its portfolio in two months.
* JET AIRWAYS INDIA: Will launch three domestic flights on Bengaluru-Vadodara, Delhi-Vadodara, and Delhi-Coimbatore route and two international flights on Mumbai-Manchester and Pune-Singapore route.
* JUBILANT FOODWORKS: Has started test runs of a Chinese fast food venture.
* KIRLOSKAR OIL ENGINES: The company's wholly-owned subsidiary Kirloskar Capital has received certificate of registration from Reserve Bank of India to commence non-banking finance business.
* KRIDHAN INFRA: Singapore-based subsidiary KH Foges got two orders worth S$24.63 mln or 1.3 bln rupees.
* MAGMA FINCORP: The board of directors will meet on Friday to consider raising of funds through public issue of redeemable non-convertible debentures.
* MUTHOOT CAPITAL SERVICES: Will make higher provisions in the coming quarters in a bid to push up its provision coverage ratio to 50% by the end of 2019-20 (Apr-Mar), Chief Financial Officer Vinod Panicker said.
* MUTHOOT FINANCE: The company has acquired Muthoot Money for 1.10 bln rupees.
* PRIME FOCUS: Board has approved to sell its subsidiary Gener8 India Media Services to the company's arm DNEG Creative Services for 1.31 bln rupees.
* PUNJAB NATIONAL BANK: The Securities and Exchange Board of India has exempted the government from making an open offer for the proposed acquisition of 5.83% stake in the bank in 2018-19 (Apr-Mar).
-Will hike its marginal cost of funds-based lending rates by 5 basis points, across tenures, from Thursday.
* SPICE MOBILITY: Subsidiary Spice Digital has divested its entire 49% stake in Adgyde
Solutions.
* SPICEJET: Directorate General of Civil Aviation on Tuesday reviewed the performance of Boeing 737 MAX 8 aircraft operated by JET AIRWAYS and the company.
* STATE BANK OF INDIA: Will reduce the daily cash withdrawal limit for Classic and Maestro debit cards to 20,000 rupees per day from 40,000 rupees with effect from today.
* TATA STEEL: The European Commission has launched an in-depth probe into a proposed joint venture between the company and German company ThyssenKrupp AG, saying it may reduce competition.
* TCI FINANCE: Board has approved the sale of wholly-owned subsidiary Itag Business Solutions for 5.33 mln rupees.
* UTTAM VALUE STEELS: Prudent ARC, Asset Reconstruction Co, a consortium led by SSG Capital Management and another consortium led by New Zone Intertrade FZE have joined the list of eligible resolution applicants for the company and Uttam Galva Metallics.
* VEDANTA: Aims to expedite its $4-bln capital expenditure plan after it got a 10-year extension in its contract for the prolific Rajasthan oil block and expects there could be an increase in its outlay going ahead based on exploration work.
The finance ministry has started a cost edit of the company's $800 mln-$900-mln pipeline, which carries crude oil from Barmer in Rajasthan to the Jamnagar district in Gujarat.
-Cairn Oil and Gas, a unit of the company, will invest $4 bln in its flagship Barmer oil block in Rajasthan.
