Today's Stock View – 10.12.2018
* ALEMBIC PHARMACEUTICALS: The committee of non-convertible debentures of the company will meet on Dec 14 to mull raising up to 3.50 bln rupees.
* ALLAHABAD BANK: India Ratings and Research has downgraded the bank's long-term issuer rating to AA- from AA. The outlook is negative.
* ASHOKA BUILDCON: The company's joint venture with Story Tech Services LLC has received letter of acceptance from Rail Vikas Nigam for projects in Bihar and Jharkhand.
* AXIS BANK: The board has appointed Amitabh Chaudhry as managing director and chief executive officer for a period of three years, effective Jan 1.
* BHARTI AIRTEL: The Niger government has ordered closure of the company's wholly-owned arm in the African country for non-payment of over $107 mln (about 7.64 bln rupees) in taxes, however, the Sunil Mittalled telecom company has disputed the claim.
* BRIGADE ENTERPRISES: Launched residential project 'Parkside - Independent living for Seniors', across three locations--Sarjapur Road, Mysore Road and Jalahalli--in Bengaluru, offering one- and two-bedroom houses ranging from 38.86 sq mtr to 59.14 sq mtr.
* CHOLAMANDALAM INVESTMENT AND FINANCE CO: Plans to raise at least 1 bln rupees by issuing zero-coupon bonds maturing on Dec 14, 2020 and has invited bids on Tuesday.
* CIPLA: The US Food and Drug Administration has given the company approval for montelukast sodium tablet, a generic of MSD Merck Co's Singulair tablet.
* ESCORTS: Has signed an agreement for transferring its rough terrain crane business on a slump sale basis to joint venture company for 350 mln rupees.
* GLAXOSMITHKLINE CONSUMER HEALTHCARE: Bengaluru-based Steer Engineering has moved the Delhi High Court seeking protection of the technology and the know-how that it provided to the company.
* HUHTAMAKI PPL: The National Green Tribunal has adjourned a hearing on the appeal against
Maharashtra Pollution Control Board's closure order to the company's plant in Thane, near Mumbai, to Dec 14.
* IDFC BANK: Has kept its marginal cost of funds-based lending rates across tenures unchanged for
December.
* IL&FS ENGINEERING AND CONSTRUCTION CO: Ganapathi Ramachandran tendered his resignation as non-executive independent director with effect from Friday.
* INDIA GRID TRUST: Has started roadshows to raise 25-30 bln rupees in fresh capital.
* INDIAN HOTELS CO: Hotel brand Ginger, owned and operated by the company's subsidiary Roots Corp, will unveil its first rebranded hotel at Panjim in Goa.
* INDIAN OIL CORP: The board will meet on Thursday to consider and approve buyback of shares.
* INDIAN OVERSEAS BANK: Has accepted bids worth 3 bln rupees through tier-II bonds maturing in 10 years. Has kept its marginal cost of funds-based lending rates across tenures unchanged for December.
* JK TYRE & INDUSTRIES: Has made a commitment to invest 12.5 bln rupees in the Laksar unit for further expansion.
* JAMMU & KASHMIR BANK: Has raised the marginal cost of funds-based lending rates by 5-10 basis points across tenures for December, effective Monday.
* JSW STEEL: Has cut prices of its Neosteel brand 500-D steel bars for the third time in the December quarter.
-Is seeking to garner up to 35 bln rupees in a local bond sale as part of a broader, dedicated fundraising to finance the buyout of Bhushan Power and Steel.
* JUBILANT LIFE SCIENCES: Has said that the US Food and Drug Administration may withhold pending drug applications for the company's Roorkee facility.
* MANGALAM DRUGS & ORGANICS: Unit-1 facility has received the World Health Organization's prequalification approval following an inspection recently.
* MOTILAL OSWAL FINANCIAL SERVICES: Motilal Oswal Real Estate, the realty private equity arm of Motilal Oswal group, has invested more than 3 bln rupees across three transactions with realty developers in Mumbai, Pune and Chennai, through two funds.
* NATIONAL ALUMINIUM CO: After cutting prices seven times in a row, the company has hiked prices of aluminium alloy ingots and sow ingots.
* NAVA BHARAT VENTURES: CRISIL has downgraded the long-term rating on bank facilities to A from A+, while reaffirming its short-term rating at A1.
* OIL & NATURAL GAS CORP: The Prime Minister's Office has sought a whitepaper on status and future strategy for the company's overseas arm ONGC Videsh.
* POWER FINANCE CORP: Will not be required to make an open offer to minority shareholders of REC after buying out the government's 52.63% stake in the company as it is a related-party transaction, an official said.
* PUNJAB NATIONAL BANK: Has revived the process to divest its 33% stake in the PNB HOUSING FINANCE by appointing PNB Investment Services and Credit Suisse as its investor scouts.
-Has put up for sale two dozen non-performing assets to recover dues worth more than 17.79 bln rupees.
* RELIANCE INDUSTRIES: Has created seven subsidiaries to handle its fastgrowing telecom and content businesses, a official said.
* RELIANCE NAVAL AND ENGINEERING: The Bombay high court has rejected a writ petition filed by the company against OIL & NATURAL GAS CORP after the oil explorer ended a deal for the supply of vessels.
* SJVN: The centre can sell its stake in the company even if Himachal Pradesh, the partnering state
government, is not open to the 70-bln-rupee deal.
* SUZLON ENERGY: Is in talks with two financial investors to sell up to 49% in its operations and
maintenance subsidiary Suzlon Global Services in an attempt to raise funds to pare debt.
* SYNDICATE BANK: Will reduce the marginal cost of funds-based lending rates by 5 basis points on sixmonth and one-year tenures from Monday.
* TATA GLOBAL BEVERAGES: Is now evaluating three to four dairy firms for a possible buyout.
* TATA STEEL: Germany's Thyssenkrupp and the company are close to deciding who will lead their planned European steel joint venture.
* TATA SPONGE IRON: Has got the environment ministry's approval to increase direct reduced iron
production to 465,000 tn per annum from 425,000 tn per annum at its Odisha unit.
* UNITED BREWERIES: Director and Chief Financial Officer Steven Bosch has resigned from the company with effect from Jan 1.
* VEDANTA: Is targeting zinc production of 1 mln tn a year from its southern African operations as it expands output at its new Gamsberg mine in South Africa's Northern Cape province.
* VODAFONE IDEA: Brickwork Ratings has revised the rating on the company's non-convertible debentures to AA- from AA.
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