Today's Stock News – 15.02.2019
* ARVIND LTD: The demerged Arvind Fashions brand will be listed in the next few weeks, the company's Executive Director Kulin Lalbhai said.
* BANK OF INDIA: Reserve Bank of India imposed a fine of 10 mln rupees for non-compliance with
directives issued by the regulator on monitoring the end-use of funds, exchange of information with other banks, and restructuring of accounts.
* BANK OF MAHARASHTRA: The Enforcement Directorate, probing an alleged 30 bln rupees money laundering case concerning Pune-based business conglomerate DSK group, will soon be writing to the bank seeking details on certain suspicious transactions that are linked to the case.
* BRIGADE ENTERPRISES: Has plans to invest 40 bln rupees to develop commercial properties in south India by 2020. The firm is also looking to divest stake in hospitality business.
* BSE: Will launch cotton futures on its platform on Monday, with the delivery centre at Rajkot in Gujarat.
* CG POWER AND INDUSTRIAL SOLUTIONS: Board has given an in-principle approval for merger of wholly-owned subsidiary CG Power Solutions with the company.
* COAL INDIA: The National Company Law Appellate Tribunal has set aside the National Company Law Tribunal, Kolkata bench's, order to start insolvency proceedings against Eastern Coalfields, a subsidiary of the company.
* EMAMI: US private equity firm KKR is in advanced negotiations to invest as much as 20 bln rupees in the Emami Group through a structured credit deal, said people with knowledge of the matter.
* GLENMARK PHARMACEUTICALS: Board has given an in-principle approval to spin off the innovation business into a new company in the US to provide enhanced focus to operations.
* HINDALCO INDUSTRIES: Has cut the prices of its aluminium products by nearly 2% with effect from Thursday.
* INFOSYS: The company will implement its finacle assure software at RBL BANK on Amazon web services cloud.
* J. KUMAR INFRAPROJECTS: Got an order worth 4.4 bln rupees from Delhi Metro Rail Corp for part design and construction of viaduct and three elevated station IIT-Powai, Kanjur Marg (West), Vikhroli (Eastern Express Highway) in Mumbai.
* JAYPEE INFRATECH: Lenders will meet on Monday to discuss resolution plans to be submitted by four shortlisted bidders by today to take over the realty firm and complete stalled projects.
* JET AIRWAYS INDIA: Lenders are set to take control of the company under a proposed resolution plan that will see conversion of debt into equity at a token value of 1 rupee.
* KRIDHAN INFRA: Singapore-based wholly-owned subsidiary KH Foges has been awarded an order in Singapore worth S$36 mln (1.88 bln rupees) to execute piling works and earthwork for a sports and recreation centre.
* Marico: Has entered into the ‘premium superfood’ category, and plans to ramp up presence with new launches and by expanding its distribution channels.
* MARUTI SUZUKI INDIA: MAHINDRA AND MAHINDRA and the company are working on plans to gradually reduce dependence on diesel cars as regulations and market sentiment build up against the use of the fossil fuel in India—home to some of the world's most polluted cities.
* MUTHOOT FINANCE: Public issue of non-convertible debentures was subscribed 20% times on the first day.
* ORIENTAL BANK OF COMMERCE: The Reserve Bank of India imposed a fine of 15 mln rupees for noncompliance with directives issued by the regulator on monitoring the end-use of funds, exchange of information with other banks, and restructuring of accounts.
* PETRONET LNG: Has signed an initial agreement with Tellurian Inc to invest in its proposed Driftwood project in Louisiana, US, and buy liquefied natural gas, Tellurian said.
* PRABHAT DAIRY: Has received board approval for merger of wholly-owned subsidiary Cheese Land Agro (India) with itself.
* PUNJAB NATIONAL BANK: The Reserve Bank of India imposed a fine of 10 mln rupees for noncompliance with directives issued by the regulator on monitoring the end-use of funds, exchange of information with other banks, and restructuring of accounts.
* REC: Plans to raise at least 5 bln rupees through the issuance of two bonds, one maturing in one year and six months, and the other in three years, and has invited bids on Monday.
* RELIANCE COMMUNICATIONS: The company will make payments on non-convertible debentures, as per the proposed insolvency resolution process.
* RELIANCE HOME FINANCE: Has received an approval from its board to raise up to 25 bln rupees through public issue of secured non-convertible debentures.
* RICOH INDIA: In a rare instance and probably the first of its kind in India, minority shareholders have bid for a company that has filed for bankruptcy under the National Company Law Tribunal.
* SIEMENS: Has signed a memorandum of understanding with LM Wind Power Blades (India) to sell leasehold interest for a land parcel at Halol in Gujarat for 1.9 bln rupees.
* SPICEJET: Will start daily direct flight to Jeddah from Kozhikode, from Apr 20.
* STEEL AUTHORITY OF INDIA: Has raised the prices of steel bars and other flat and long products for February. Has withdrawn its expression of interest invitation to sell its plant at Durgapur in West Bengal.
* SUNDRAM FASTENERS: Has acquired 1.82% stake in subsidiary TVS Infotech.
* TATA POWER CO: Wholly-owned subsidiary Tata Power Solar Systems has launched a complete
residential rooftop solution for solar energy in Hyderabad.
* VARUN BEVERAGES: Has completed acquisition of rights from SMV Group to sell and distribute
PepsiCo beverages in 13 districts of Karnataka and 14 districts of Maharashtra.
* VEDANTA: Has reduced the prices of aluminium ingots by more than 1% with effect from Thursday.
* VODAFONE IDEA: The telecom department has floated a Cabinet note on proposed foreign fund infusion plans by the company, which is planning up to 250 bln rupees rights issue.
* YES BANK: Has extended the deadline for eligible bondholders to tender medium-term notes to
Monday from the original deadline of Thursday.
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