Today's Stock News – 31.01.2019
* 63 MOONS TECHNOLOGIES: The Supreme Court has refused to interfere with the Bombay High Court order granting relief to the company, in a case related to attachment of properties and bank accounts.
* ADANI ENTERPRISES: The Telangana government has allotted land to Adani Group and textiles major Welspun Group to set up logistics parks near Hyderabad, said Jayesh Ranjan, principal secretary, Telangana Industries Department.
* AJANTA PHARMA: Board has approved buyback of up to 769,230 shares at 1,300 rupees per share, for an aggregate amount up to 1 bln rupees.
* ALKEM LABORATORIES: Has received the US Food and Drug Administration's approval for
Eslicarbazepine Acetate drug and Pregabalin capsule.
* BHARTI AIRTEL: Qatar Investment Authority, the sovereign wealth fund of Qatar, has agreed to invest $200 mln through a primary equity issuance in the company's subsidiary Airtel Africa.
* CASTROL INDIA: Board has approved investment of 1.38 bln rupees for capacity expansion at Silvassa production facility by 40 mln ltr to 140 mln ltr, to be financed via internal accruals.
* COAL INDIA: Board will meet on Monday to consider a buyback of shares, the second such buyback in less than three years.
* CONTAINER CORP OF INDIA: Signed a memorandum of understanding with JSC RZD Logistics for exploring opportunities in Russia, India and International Corridors, including but not limited to the International North-South Transportation Corridor.
* HERO MOTOCORP: Has set up its first global research and development centre Hero Tech Center
Germany GmbH.
* HOUSING DEVELOPMENT FINANCE CORP: Raised 25 bln rupees through bonds maturing on Oct 15, 2020, at a coupon of 8.62%.
* IL&FS TRANSPORTATION NETWORKS: Defaulted on 129 mln rupees worth of interest payment on non-convertible debentures that were due today, on account of insufficient funds.
* INDIAN OVERSEAS BANK: Will on Monday consider issuing up to 182.4 mln shares at 11.90 rupees each to eligible employees under the Employee Stock Purchase Scheme.
* INTERGLOBE AVIATION: Is slated to launch flight operations from the Hindon Air Force base as the airline had successfully bid for routes under the UDAN-Ude Desh ka Aam Naagrik—scheme.
* JET AIRWAYS INDIA: Clarified that no lessor has asked the airline to ground at least five of its Boeing 737 aircraft due to non-payment of dues.
* JET AIRWAYS INDIA: Lenders will hold 51% stake in the company as part of the debt gets converted into equity in the first stage of a restructuring plan to rescue the cash-starved Indian carrier. Promoter-Chairman Naresh Goyal is understood to have approached the Adani Group with a proposal to invest in his ailing airline, which is in dire need of funds.
* KIOCL: Is planning to set up 2 mtpa beneficiation and 2 mtpa pelletisation plant at the Devadari mines site, post statutory clearances and commencement, employing over 2,000 local people.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: Raised 300 mln rupees through the reissue of market-linked non-convertible debentures maturing on Sep 14, 2020.
* NTPC: Board has recommended bonus shares in the ratio of one for every five held.
* OIL INDIA: Issued 10-year dollar-denominated bonds worth $550 mln on Tuesday.
India's second auction of discovered small fields attracted 145 bids for 58 oil and gas discoveries on offer that earlier belonged to state-owned upstream players OIL AND NATURAL GAS CORP and the company.
* PUNJAB NATIONAL BANK: MetLife Inc is considering buying additional stake in PNB MetLife India Insurance Co from its Indian partners after its attempt to unlock value through a public offering got shelved.
* RATTANINDIA POWER: The board will meet on Saturday to consider a letter of intent expected to be received from the fund-based lenders of the company with respect to a one-time settlement proposal submitted by, inter alia, the company.
* RUCHI SOYA INDUSTRIES: Patanjali Ayurveda has moved the National Company Law Tribunal with a plea to direct lenders of the stressed company to consider its offer since Adani Wilmar has expressed in writing its wish to withdraw its offer citing "delays" in the resolution process.
* TATA CONSULTANCY SERVICES: Is likely to be impacted by bankruptcy filing of its client Pacific Gas and Electric and troubles at other Californian utilities could hurt other Indian information technology companies.
* TATA METALIKS: Has received the Ministry of Environment, Forest and Climate Change's clearance for increasing capacity at its facility in Kharagpur, West Bengal.
* TORRENT PHARMACEUTICALS: Is selling six brands in cardiac and diabetic therapies as part of a portfolio restructuring following UNICHEM LABORATORIES and ELDER PHARMACEUTICALS buyouts in recent past.
* Has received US Food and Drug Administration's approval for Nystatin drug.
* VARUN BEVERAGES: Is set to acquire PepsiCo's company-owned bottling, sales and distribution
operations in south and west India for its carbonated drinks business and the announcement is expected this week.
* VEDANTA: The company and many little-known private players emerged the dominant bidders in the second round of auction for discovered small fields in which 39 companies bid for 24 oil and gas contract areas.
* YES BANK: Is likely to nominate to its board Shagun Kapur Gogia, daughter of promoter Madhu Kapur.
* ZYDUS WELLNESS: Has announced completion of its 45.95-bln-rupee acquisition of Heinz India's
consumer wellness business, which includes popular brands Complan and Glucon D.
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