Today's Stock View – 24.12.2018
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* ADANI ENTERPRISES: On Friday urged the government of Australia's Queensland state to approve a management plan that would allow construction to start at its controversial Carmichael coal mine.
* ALPHAGEO (INDIA): Received a 458.8-mln-rupee contract from the Geological Survey of India to conduct airborne geophysical surveys over two identified blocks.
* AMTEK AUTO: The SEBI has imposed a fine of 1.5 mln rupees on the company for failing to make NCD redemptions on due date, redeeming funds to select investors and not disclosing to bourses about the rating downgrade.
* APOLLO PIPES: Malabar India Fund bought 311,035 shares or 2.6% stake in the company at 400 rupees apiece in a bulk deal on the BSE.
* ASHOK LEYLAND: Is in advanced talks with a select defence players in the US and Europe to offer its mobility solutions.
* AU SMALL FINANCE BANK: The Vanguard Group Inc-owned Vanguard Emerging Markets Stock Index bought 0.5% stake in the bank at 637.08 rupees in a bulk deal on the NSE.
* AVENUE SUPERMARTS: Issued commercial papers worth 500 mln rupees.
* AXIS BANK: Plans to raise up to 30 bln rupees through non-convertible debentures.
* BANDHAN BANK: Unaware of any talk to take controlling stake in Gruh Finance.
* BANK OF BARODA: Close to 1 mln employees of various banks, including private lenders, have called for a one-day strike on Dec 26 to protest against the proposed amalgamation of VIJAYA BANK and DENA BANK with the bank.
* BHARAT HEAVY ELECTRICALS: The government is making efforts to manufacture lithium-ion batteries in India in the next one year, and talks are on between the company and a US firm to form a joint venture in this regard, Union Minister Anant Geete said.
* CHOLAMANDALAM INVESTMENT AND FINANCE CO: Plans to raise at least 600 mln rupees through the issue of bonds maturing on Feb 26, 2021, and has invited bids for the same on Wednesday.
* CMI: Received an order worth 790 mln rupees from BHARAT HEAVY ELECTRICALS for their overseas project to supply LT XLPE and HT XPLE cables.
* COAL INDIA: The National Company Law Appellate Tribunal on Saturday stayed its Kolkata bench's order for commencement of insolvency resolution process against subsidiary Eastern Coalfields for alleged nonpayment of interest.
* CORPORATION BANK: Mulling over raising at least 5 bln rupees through Basel-III compliant tier-II bonds maturing in 10 years. May seek bids next week.
* ENTERTAINMENT NETWORK (INDIA): Resumed terrestrial broadcasting from its Mumbai radio station. The board has approved entry into the US radio market through licensing agreements to broadcast its Mirchi radio programme in the country with a focus on gaining the audience of the South Asian community there.
* FIEM INDUSTRIES: Morgan Stanley (France) SAS bought 108,022 shares or 0.8% stake at 560 rupees per share in the company in a bulk deal on the National Stock Exchange.
* FORTIS HEALTHCARE: The Securities and Exchange Board of India has modified its Oct 17 order, which had asked the company to recover within three months 4.03 bln rupees from its former promoters--Malvinder Mohan Singh and Shivinder Mohan Singh, and has now directed Fortis Hospitals to recover the amount.
- The Singapore High Court on Friday dismissed an application by the company's former promoters
Malvinder Singh and Shivinder Singh to set aside a $500 mln arbitration award against them in the Daiichi Sankyo case.
* GAMMON INDIA: The Bombay High Court has disposed of a winding-up order filed by the STATE BANK OF INDIA against the company.
* GE POWER INDIA: The company in consortium with GE Hydro France, GE Renewable Malaysia Sdn Bhd and Sinohydro Corp (M) Sdn Bhd got order worth $159 mln for Baleh Hydroelectric Project in Malaysia from SEB Power Sdn Bhd.
* HATHWAY CABLE & DATACOM: Reliance Capital Trustee Co sold 4.5 mln shares or 0.5% stake in the company on Dec 19.
* HIMACHAL FUTURISTIC COMMUNICATIONS: Has won a 1.48-bln-rupee contract to lay telecom systems for LARSEN & TOUBRO's Mauritius and Dhaka metro rail projects.
* HINDUJA GLOBAL SOLUTIONS: Step-down subsidiary HGS Axis Point Health LLC, US has entered into an agreement to sell its US nurse advice line service contracts to Infomedia Group, Inc, US for $5.3 mln.
* HINDUJA VENTURES: Will buy 229,209 shares of its subsidiary Hinduja Leyland Finance at 153 rupees apiece on rights basis.
* ICICI BANK: Appointed committee, set up under retired Supreme Court judge B.N. Srikrishna, is reaching closure in its probe on allegations of breach of code of conduct and conflict of interest by the bank's former managing director and chief executive officer Chanda Kochhar in the 32.5-bln rupees ICICI Bank-Videocon loan case.
* IDBI BANK: Life Insurance Corp of India has infused 60 bln rupees in the bank in the current financial year as part of its total infusion of around 150-200 bln rupees.
* IL&FS ENGINEERING AND CONSTRUCTION CO: Has received a notice from Rail Vikas Nigam to terminate the contract for construction of seven stations including related works on New Garia-airport metro corridor of Kolkata metro railway.
* INFO EDGE INDIA: Through its wholly-owned subsidiary, has invested 28 mln rupees in Nopaperforms Solutions.
* INFOSYS: Board is likely to consider a proposal for a second share buyback of $1.6 bln very soon to cheer up investor sentiment, where some founding family members could tender their shares.
* INTERGLOBE AVIATION: The company's IndiGo airline has agreed to a codeshare and mutual cooperation agreement with the Istanbul-based Turkish Airlines to provide more flexibility to fly between India, Istanbul, and other geographies.
* IRB INFRASTRUCTURE DEVELOPERS: Singapore based Cube Highways, the company and Adani Group have submitted bids for the second Toll-Operate-Transfer package of National Highways Authority of India's.
* JAYPEE INFRATECH: A total of 4,000 houses have been handed over to their respective owners by the company in Noida, even as the insolvency process is on.
* JET AIRWAYS: Domestic Indian airlines, including the company and SPICEJET, have "phased out" 53 foreign pilots till September this year, Jayant Sinha, minister of state for civil aviation said. On Sunday announced up to 30% discount on its domestic and international fares as part of its limited
period festive season sale offer.
* JM FINANCIAL: The GVK group is in talks with the company to refinance up to 14 bln rupees of GVK Airport Holdings' debt through a structured credit transaction.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: The board of the company has approved raising up to 100 bln rupees through non-convertible debentures in one or more tranches.
* MARICO: Will soon return to the health and wellness food market by launching more than half a dozen items as part of its wider strategy to expand its portfolio with premium new age products.
* MARUTI SUZUKI INDIA: Is seeking a land parcel of around 700 acres in Haryana for shifting its Gurgaon plant, a top company official said.
* MEDICAMEN BIOTECH: Has planned a shutdown of its plant at Bhiwadi, Rajasthan, for 45 days to upgrade it for inspection from organisations like the United Nations International Children's Emergency Fund and the United Nations Development Programme.
* MINDTREE: Baring Pvt Equity Asia has emerged as the front-runner to buy the 21% stake of V.G.
Siddhartha and affiliate entities in the company for at least 33 bln rupees.
* NLC INDIA: The company's thermal power station-I (TPS-I), unit-7 with capacity of 100 MW has been retired.
* OIL AND NATURAL GAS CORP: Board has opined that it is not the right time to list the firm's overseas investment arm ONGC Videsh on the bourses.
* OMKAR SPECIALITY CHEMICALS: HDFC Bank has sold 0.6% stake or 118,241 shares of the company at 27.24 rupees apiece through a bulk deal on the BSE.
* ORIENTAL BANK OF COMMERCE: Will issue up to 50 mln rupees new equity shares to its employees under the employee stock purchase scheme.
* PERFECT-OCTAVE MEDIA PROJECTS: Aspire Emerging Fund has sold 8.3% stake or 2,890,000 shares of the company at 1.12 rupees apiece through a bulk deal on the BSE.
* PETRONET LNG: Modified its agreement with oil marketing companies--INDIAN OIL CORP, BHARAT PETROLEUM CORP, GAIL INDIA, and GUJARAT STATE PETROLEUM CORP--for supply of natural gas.
* PIRAMAL ENTERPRISES: The board of directors of the company will on Thursday consider raising up to 6 bln rupees through non-convertible debentures.
* PVR: The board has approved raising up to 7.5 bln rupees through debt and equity, including a qualified institutional placement.
* REC: Sold its Jawaharpur Firozabad Transmission project, along with its assets and liabilities, to POWER GRID CORP OF INDIA for 41.2 mln rupees through a tariff-based competitive bidding process.
* RELIANCE COMMUNICATIONS: The telecom appellate tribunal has ordered the telecom department to return 1.04 bln rupees to the company, providing some relief to the company trying to stave off insolvency proceedings.
- Reliance Jio subscribers could face disruptions in services in Delhi and Maharashtra if telco fails to buy the company's spectrum.
* RELIANCE INDUSTRIES: On Saturday, the company had acquired 5.56% stake for $5 mln in UK-based technology startup Vakt Holdings.
* RUCHI SOYA INDUSTRIES: Patanjali Ayurved is keen to acquire the company even as successful bidder Adani Wilmar is withdrawing its offer to buy the stressed edible oil maker, citing "delays" in closing the resolution process.
* SATIN CREDITCARE NETWORK: Has plans to demerge its small and medium finance vertical into a separate non-banking finance company.
* SHRIRAM TRANSPORT FINANCE CO: Raised 5 bln rupees through the re-issuance of non-convertible debentures maturing on Apr 26, 2024, and Dec 12, 2028.
* SOMANY CERAMICS: The board has approved selling its entire 26% stake in associate company
Commander Vitirifed for 85.7 mln rupees to a group of 12 individual.
* STATE BANK OF INDIA: The Competition Commission of India has approved the acquisition of 26% equity stake in subsidiary SBI Payment Services by Hitachi Payment Services.
* STATE TRADING CORP OF INDIA: Appointed Rooma Nagrath as chief financial officer of the company in place of S.K. Singhal.
* TATA MOTORS: Has reportedly assured Prime Minister Theresa May of the company's commitment to Britain's automotive industry despite the ongoing turmoil of Brexit.
* UNICHEM LABORATORIES: Received the final abbreviated new drug application approval from the US Food and Drug Administration for Pramipexole Dihydrochloride, in 0.125 mg, 0.25 mg, 0.5 mg, 0.75 mg, 1 mg, and 1.5 mg strengths.
* VA TECH WABAG: Norges Bank-held Government Pension Fund Global has bought 900,000 shares or 1.6% stake in the company at 270.10 rupees apiece through a bulk deal on the NSE.
* VEDANTA: The Madras High Court has directed agencies such as the state pollution control board to maintain "status quo" on the recent order of the National Green Tribunal giving a green signal to reopen the company's copper smelter in Thoothukudi, Tamil Nadu.
* WOCKHARDT: Raised up to 2.50 bln rupees through the allotment of 500 mln non-convertible noncumulative redeemable preference shares to promoters.
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