Today's Stock View – 21.12.2018
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* ABG SHIPYARD: Lenders to the company on Thursday rejected with "requisite majority" the resolution plans for the company submitted by Liberty House Group.
* ARVIND LTD: Will partner with JCB to offer co-branded industrial protective wear to tap into the fastgrowing occupational safety and health market in India.
* BANK OF INDIA: Is looking to raise 10-12 bln rupees by selling its entire 28.96% stake in life insurancejoint venture, Star Union Dai-Ichi Life Insurance.
* BHARTI AIRTEL: The board has approved formation of a special committee of directors to evaluate various options for fund raising to strengthen its capital structure and balance sheet.
-Has appointed Badal Bagri as chief financial officer, effective Mar 1.
-The board of the company has decided to transfer 32% of its stake in its tower arm BHARTI INFRATEL to its wholly-owned subsidiary Nettle Infrastructure Investments to monetise the stake later.
* BOSCH: Will shut manufacturing operations at its Bidadi plant in Karnataka on Dec 28-29 due to a fall in demand.
* CARE RATINGS: The Securities and Exchange Board of India has served a notice to the company for conducting adjudication proceedings related to credit ratings assigned to Infrastructure Leasing & Financial Services and its subsidiary IL&FS Financial Services.
-Pabrai Investment Funds has sold 835,967 shares or 2.84% stake in the company through three bulk deals on the National Stock Exchange and the BSE.
* CENTRAL BANK OF INDIA: Sold 2.24 mln shares or 1.35% stake in ROLTA INDIA at 9.11 rupees apiece through a bulk deal on the National Stock Exchange.
* COAL INDIA: Will pay an interim dividend of 7.25 rupees per share and has set Dec 31 as record date.
-Four Central unions at the company have called a two-day strike from Jan 8, demanding more money and no further sale of government stake.
-The Kolkata bench of the National Company Law Tribunal has ordered commencement of the corporate insolvency resolution process against its subsidiary Eastern Coalfields.
* ELECON ENGINEERING CO: Has approved raising up to 1.5 bln rupees through non-convertible
debentures in one or more tranches, on a private placement basis.
* GUJARAT STATE FERTILIZERS & CHEMICALS: The Duke Endowment has bought 2.47 mln shares 0.62% stake in the company at 112.60 rupees per share through a bulk deal on BSE.
* HCL TECHNOLOGIES: Has partnered Cloudify, a cloud platform provider, to bring orchestrated network slicing for telecom providers.
* HT MEDIA: Has decided to acquire a 51% stake in Next Mediaworks through a renewed agreement and will withdraw the previous agreement for acquisition of the company.
* ICICI LOMBARD GENERAL INSURANCE CO: Denied reports of a possible acquisition of a competitor, saying that it is not looking to invest in another general insurance company.
* IL&FS INVESTMENT MANAGERS: Infrastructure Leasing & Financial Services will invite bids for sale of its stake in the company and IL&FS Education & Technology Services.
* INDIABULLS REAL ESTATE: The company will sell 50% stake in two assets in Gurugram for 4.64 bln rupees to Blackstone Group.
* INDIAN HUME PIPE CO: Has received an order worth 5.03 bln rupees from Andhra Pradesh Drinking Water Supply Corp for projects to supply drinking water in Guntur district.
* INFIBEAM AVENUES: Has entered into an agreement with IBM India to develop and implement a blockchain platform.
* INFOSYS: Has implemented a payments solution system through Infosys Finacle for Doha-based Qatar National Bank. Has appointed Nilanjan Roy as chief financial officer, effective Mar 1.
* ITC: Entered into the packaged rice segment, mainly the non-basmati variety. The company is piloting with the 'sona masoori' variety in Bengaluru.
* JET AIRWAYS (INDIA): Boeing Co will continue to deliver aircraft, as planned, to the company despite the Indian carrier's financial troubles.
* JSW STEEL: Will infuse 635 mln rupees in VARDHMAN INDUSTRIES through shares and debt within a period of 30 days.
* KWALITY: The National Company Law Tribunal has initiated insolvency resolution process against the company.
* MERCATOR: Has sold its vessel M.T. Sisouli Prem for $7.6 mln.
* MINDTREE: The firm's investor, V G Siddhartha, is likely to offload his stake in the stock exchanges through bulk deals.
* PFIZER: The joint venture of the consumer health businesses of Pfizer Inc and GlaxoSmithKline Plc is expected to be among the top two players in the segment in key geographies.
* POWER GRID CORP: Got shareholders' approval to raise shareholding limit of foreign portfolio investors to 35% from 30% at present.
* OIL AND NATURAL GAS CORP: Nearly 70% of the domestic drilling industry could go idle as the company refuses to differentiate between old junk rigs and the new generation high spec jack-ups in its latest tender.
-The Supreme Court will hear in January the company's appeal against the Bombay High Court's order that in effect stayed its 12.19 bln rupees sub-sea oil pipeline construction project for the Mumbai High, Milan Heera and basement field.
* POWER FINANCE CORP: The board has granted an 'in-principle' approval to acquire the government's entire stake in REC and secure management control.
* PUNJAB NATIONAL BANK: CRISIL on Thursday slashed the rating on the bank's infrastructure and Basel-III compliant tier-II bonds to AA+ from AAA.
* RELIANCE COMMUNICATIONS: Is committed to pay any outstanding dues or disputed amount to the Department of Telecommunications, subject to adjudication
-The telecom department has told the company and Reliance Jio Infocomm that it can't enforce the Supreme Court order for clearing their spectrum deal, as the buyer is unwilling to accept the responsibility for the company's arrears, thus violating a key clause in the spectrum-trading rules.
* S CHAND AND CO: Will avail term loan of up to 650 mln rupees from Axis Finance to acquire 26% stake in Chhaya Prakashani.
* SATIN CREDITCARE NETWORK: Massachusetts Institute of Technology has bought 847,452 shares or 1.73% stake in the company at 228.25 rupees per share in a bulk deal on BSE.
* TIME TECHNOPLAST: Has received additional orders for power cable ducts from engineering,
procurement, and construction contractors.
* VEDANTA: Vedanta Group's Sterlite Copper says it expects to re-start its copper plant at Thoothukudi in southern Tamil Nadu in the next two months, subject to various clearances and procedures.
* VIJAYA BANK: Has received notices from the United Forum of Bank Unions saying that the employees of the bank will go on a strike on Wednesday to protest against government decision to merge BANK OF BARODA, DENA BANK AND the bank into one single entity.
* VODAFONE IDEA: UK's Vodafone Group Plc and its partner Aditya Birla Group plan to tap private equity and pension funds to raise as much as $1 bln once they pump in $2.5 bln through a rights issue into the company.
* ZEE ENTERTAINMENT ENTERPRISES: IIFL Institutional Equities believes that ZEE5, the over-the-top platform of the company, will go mainstream in the next 4-5 years, and growth in linear television will slow down.
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