Today Stock News – 29.11.2018
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* ALLAHABAD BANK: Will hike its marginal cost of funds-based lending rates by 10 basis points, across tenures, on Saturday, the bank notified exchanges.
* ARVIND LTD: India Capital Fund has sold 1.02% stake or 2.6 mln shares in the company at 99.07 rupees a share through a bulk deal on the National Stock Exchange.
* BANK OF BARODA: The share swap ratio for the merger of the bank, DENA BANK and VIJAYA BANK will be decided by the end of December.
* BHARAT FINANCIAL INCLUSION: Has assigned a pool of receivables of an aggregate value of 8.28 bln rupees to one of the largest private sector banks on a direct assignment basis.
* BHUSHAN STEEL: Acquired by TATA STEEL under the corporate insolvency resolution process, will now be known as Tata Steel BSL.
* CHOICE INTERNATIONAL: Has entered into an agreement to sell 3 mln shares or 19.83% stake in Aqua Pumps Infra Ventures at 25 rupees a share to Nitesh Agarwal.
* CIL NOVA PETROCHEMICALS: Asia Investment Corp Mauritius has sold 1.27% stake or 345,000 shares in the company through bulk deals on the National Stock Exchange and BSE.
* EXCEL REALTY N INFRA: Aspire Emerging Fund has sold 0.53% stake or 500,000 shares in the company through a bulk deal on the NSE at 3.75 rupees apiece.
* HINDUSTAN UNILEVER: Unilever Plc is poised to walk away with Glaxo SmithKline's nutrition business with a $3.4-bln all-cash offer for a 72.5% stake, ending nearly a year-long contest for Horlicks.
* HUHTAMAKI PPL: Has moved the National Green Tribunal against the Maharashtra Pollution Control Board's closure order for the company's plant in Thane, Mumbai.
* IL&FS ENGINEERING AND CONSTRUCTION CO: The Securities and Exchange Board of India has declined the company's request seeking extension for submitting financial results for the quarter ended September.
* INDOCO REMEDIES: Has commissioned an active pharmaceutical ingredient manufacturing facility at Patalganga in Maharashtra.
* JAYPEE INFRATECH: Jaypee group will have to clear dues of 1.08 bln rupees by Dec 31 or it may lose the land allotted for its Formula One Jaypee Sports City, Yamuna Expressway Industrial Development Authority.
* JET AIRWAYS INDIA: Termed report on promoter Naresh Goyal's exit speculative.
* MAHINDRA & MAHINDRA: Is advantageously positioned owing to its promising utility vehicle portfolio, led by the expectation-beating launch of Marazzo, and hopes of continued strong tractor sales.
* MAWANA SUGARS: The board has approved availing a soft loan of 1.46 bln rupees granted by Uttar Pradesh Co-operative Bank to clear outstanding dues to farmers for the 2017-18 crushing season.
* MERCATOR: Has sold its vessel M.T. Vedika Prem for 285.4 mln rupees. Proceeds of the sale would be used to repay debt.
* NATIONAL ALUMINIUM CO: Has cut prices of aluminium alloy ingots and sow ingots for the seventh time in a row this quarter.
* NESTLE INDIA: The board of the company will meet on Dec 5 to consider declaring third interim dividend for 2018.
* ORTEL COMMUNICATIONS: The National Company Law Tribunal has accepted a petition filed by Sony Pictures Networks India against the company to initiate corporate insolvency resolution process.
* PUNJAB NATIONAL BANK: Will raise 5.39 bln rupees by issuing 100 mln equity shares to its employees under staff stock purchase scheme.
* SICAL LOGISTICS: Has received a letter of acceptance from Mahanadi Coalfields for a 3.63-bln-rupee contract to extract coal and allied transportation activities at Hingula OCP, for extraction of 16.20 mln cu mtr over three years.
* SPICEJET: The Airports Authority of India has served a notice to Ajay Singh-controlled company, asking it to pay 200 mln rupees by Nov 30 to partially clear its dues.
* STATE BANK OF INDIA: Plans to raise at least 20 bln rupees through tier-I bonds, and has invited bids on Friday.
* STERLING BIOTECH: A Mumbai bankruptcy court has granted the resolution professional of the company another 90 days to complete the insolvency process.
* SUPERSHAKTI METALIKS: Lts Investment Fund has bought 1.96% stake or 112,800 shares in the company at 407 rupees a share through a bulk deal on BSE.
* TATA COMMUNICATIONS: The Tata Group is believed to have dropped plans for the company to buy out sister concern Tata Teleservices' enterprise business for now.
* TATA CONSULTANCY SERVICES: Has acquired the business of BridgePoint Group, LLC, a US-based management consulting firm catering to the financial services industry, and specialising in retirement services. A jury in California has rejected claims that the company has discriminated for years against American workers in favour of staffing its US offices with Indians.
* TATA MOTORS: A venture capital fund promoted by Jaguar Land Rover has made a seed investment in WeTrip, a London-based digital platform for holiday planning and booking.
* VAKRANGEE: The Securities and Exchange Board of India had conducted an investigation into trading activities in the shares of the company, and has not found any evidence or instance of stock manipulation by promoter or promoter group entities.
* VEDANTA: The National Green Tribunal's committee on the company's copper plant in Tuticorin has said that the Tamil Nadu government's order to shut the plant "cannot be sustained as it is against the principles of natural justice".
* YES BANK: Co-founder and outgoing Managing Director Rana Kapoor wants to be named as the bank's non-executive chairman once his term ends in January.
