Today's Stock View – 17.12.2018
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* ADANI ENTERPRISES: Adani-Elbit Advanced Systems India, a joint venture between the company and Israel's Elbit Systems, has announced commencement of operations at its unmanned aerial vehicles unit in Hyderabad.
* ADHUNIK METALIKS: Liberty House of UK may fail to finally acquire the company despite emerging the preferred suitor.
* ANDHRA BANK: Has hiked its marginal cost of funds-based lending rates by 5 basis points across tenures, effective today.
* ARVIND LTD: With eyes on high growth segments of building and construction and telecommunications, the company announced collaboration with Italian pultrusion composite profiles maker, Top Glass Industries SpA.
* AUROBINDO PHARMA: The US Food and Drug Administration has completed its scheduled inspection at the company's unit-IV at Pashamailaram near Hyderabad with two observations.
* BHARAT GEARS: Is looking to raise up to 150 mln rupees through an equity share issue on rights basis to buy three manufacturing equipment.
* BHARTI AIRTEL: Board will meet on Thursday to mull various fund raising options.
* CADILA HEALTHCARE: Has received final approval from the US Food and Drug Administration to market albendazole tablets USP, a generic of Albenza tablets, in 200-mg strength.
- Has received tentative approval for pregabalin capsules, a generic of Lyrica, in 25-mg, 50-mg, 75-mg, 100- mg, 150-mg, 200-mg, 225-mg and 300-mg strengths.
* CANARA BANK: Board will meet on Wednesday to mull raising funds through additional tier-I bonds.
* CASTEX TECHNOLOGIES: The National Company Law Tribunal has issued notice to Liberty House Group in connection with the company's lender's plea to withdraw the approved resolution plan submitted by the UK-based firm.
* DATAMATICS GLOBAL SERVICES: Has approved the merger of subsidiary Lumina Datamatics with itself. The merged entity will then be split into two entities.
* FORTIS HEALTHCARE: IHH Healthcare Berhad infused 40 bln rupees into the company in November to meet its capital requirements and ensure smooth operations.
* FUTURE CONSUMER: Has received 443.9 mln rupees from sale of its stake in subsidiary Amar Chitra Katha to Mauritius-based Griffin Partners.
* GUJARAT AMBUJA EXPORTS: Will invest 3 bln rupees on setting up a plant at Malda, West Bengal, with maize processing capacity of 1,000 tn per day.
* HAVELLS INDIA: Consumer durable brand Lloyd has launched its latest series of Grande air conditioners, starting at 45,990 rupees.
* HOTEL LEELAVENTURE: Canada's Brookfield Asset Management is close to buying at least four of five luxury hotels and a large land parcel owned by the company for about 45 bln rupees.
* HINDUSTAN COPPER: Plans to increase its production capacity by 20 mtpa in the next six years from 4.1 mtpa to be achieved by the end of this year 2018-19 (Apr-Mar).
* HPL ELECTRIC & POWER: Raised 850 mln rupees through issuances of commercial papers.
* ICICI BANK: The independent enquiry panel under retired judge of the Supreme Court, B.N. Srikrishna, that is probing allegations of corporate misconduct and quid pro quo in a loan by former managing director and chief executive officer Chanda Kochhar, is likely to submit its report in the New Year.
* INDIAN OIL CORP: The Central Pollution Control Board has slapped a fine of 10 mln rupees each on BHARAT PETROLEUM CORP, HINDUSTAN PETROLEUM CORP and the company for their failure to install anti-pollution "vapour recovery" systems at fuel stations.
- Has inked a memorandum of understanding with the Savera Group for opening food stores at the
company's highway retail outlets across the country.
- Oil marketing companies such as the company, BHARAT PETROLEUM CORP, and HINDUSTAN
PETROLEUM CORP plan to piggyback on WhatsApp's services to reach out to customers.
* INFOSYS: Signed pact to sell stake in CloudEndure for $15.3 mln.
* JET AIRWAYS: STATE BANK OF INDIA has ordered a forensic audit of books of the airline between April 2014 and March 2018.
* LARSEN & TOUBRO: The Mumbai Metropolitan Region Development Authority has cancelled the Mumbai monorail contract with LTSE, a joint venture between the company and SCOMI Engineering Bhd, due to its failure to perform contractual obligations.
* NIIT TECHNOLOGIES: Board will meet on Dec 28 to consider the issue and allotment of shares to PIPL Business Advisors and Investment and GSPL Advisory Services and Investment in the company.
* NTPC: Has acquired the 720 MW Barauni thermal power plant in Begusarai, Bihar.
* OIL & NATURAL GAS CORP: ONGC Petro additions--a joint venture between the company and GAIL INDIA and co-promoted by Gujarat State Petroleum Corp--has said it has successfully completed its maiden issuance of listed non-convertible debentures.
* POWER FINANCE CORP: May have to approach foreign banks to raise part of the 70 bln rupees it needs to buy out government's stake in REC.
* PREMIER EXPLOSIVES: Received an order from the Indian Air Force for design and development of chaffs and flares.
* RELIANCE COMMUNICATIONS: The Department of Telecommunications is likely to study the
company's spectrum sale proposal further, before giving the move a no-objection certificate.
* RELIANCE INDUSTRIES: Telecom arm Reliance Jio Infocomm is in talks with US contract manufacturer Flex for locally producing about 100 mln mobile phone handsets.
- Has said there is no impact on Reliance Jio of Telecom Disputes Settlement and Appellate Tribunal
quashing Telecom Regulatory Authority of India's predatory pricing norms on telecom companies.
* ROLTA INDIA: Central Bank of India has sold 0.70% stake or 1.1 mln shares of the company at 9.93 rupees apiece via a bulk deal on the National Stock Exchange.
* SCOOTERS INDIA: Plans to venture into the electric vehicles segment, including bringing back the once popular Lambretta brand in electric version.
* SHALIMAR PAINTS: Has extended the closing date for rights share issue to Dec 24 from Dec 17.
* SHRIRAM TRANSPORT FINANCE: Plans to raise at least 2 bln rupees through bonds maturing on May 14, 2020, and has invited bids on Tuesday.
* STEEL AUTHORITY OF INDIA: Has said it achieved its "best ever" hot metal output in a single day at 55,282 tn on Thursday.
* SOLARA ACTIVE PHARMA SCIENCES: The US Food and Drug Administration has issued no
observations for the company's Solara Research Centre in Chennai.
* SUN TV NETWORK: May look at betting on its over-the-top business, Sun NXT, with exclusive content, though it had not been bullish on the platform initially.
* TATA MOTORS: InMotion Ventures, the venture capital arm of the company's subsidiary Jaguar Land Rover, has invested in six startups in 2018. Gajendra Chandel, president and chief human resource officer of the company, has resigned.
* TATA POWER: Plans to invest around 700 mln rupees to set up nearly 1,000 charging points in the National Capital Region, for electric vehicles.
* TV TODAY NETWORK: Has launched a new current affairs and news channel, named "Aaj Tak HD".
* USHA MARTIN: The Enforcement Directorate has initiated a probe against the managing director of the company in connection with alleged violations of the Foreign Exchange Management Act, sources said.
* VEDANTA: The National Green Tribunal has set aside Tamil Nadu government's order to close the
company's Thoothukudi copper plant and directed the state pollution control board to renew consent to operate within three weeks.
- Buoyed by the National Green Tribunal order allowing reopening of its Tuticorin plant, Sterilte Copper CEO P. Ramnath said the company will now approach the Tamil Nadu government for consent to resume operations at the unit.
* VODAFONE IDEA: Has urged the telecom department not to hold spectrum auction till 2020, on the grounds that fresh need for quality radiowaves will arise only once the 5G ecosystem is ready.
* WELSPUN CORP: Welspun group targets 10 bln rupees sales from new flooring venture.
* WIPRO: Arm Topcoder has received an order from Saxo Bank for the execution of digital transformation initiatives at the bank. Wipro Enterprises' subsidiary of Wipro Infrastructure Engineering's Automation Solutions has partnered with Rockwell Automation to be its "Recognised Systems Integrator".
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