Today's Stock News – 18.02.2019
* ANDHRA BANK: Has kept its marginal cost of funds-based lending rates unchanged in the range of 8.20- 8.75% across tenures.
* AUROBINDO PHARMA: Has received approval from the US Food & Drug Administration for ibuprofen and diphenhydramine hydrochloride capsule, generic of Pfizer's Advil PM in 25-mg, equivalent 200-mg free acid and potassium salt strength.
* AXIS BANK: The government has raised 53.79 bln rupees through the sale of 3% stake or 77.1 mln shares held by the Specified Undertaking of Unit Trust of India in the bank via offer for sale route.
* BAJAJ ELECTRICALS: Plans to raise 1.5 bln rupees through issuance of two bonds, and has invited bids on Tuesday.
* BANK OF INDIA: Has received approval from shareholders to issue 953.76 mln shares at 105.75 rupees each, aggregating to 100.86 bln rupees, on a preferential basis to the government.
* BHARAT PETROLEUM CORP: Bharat Gas Resources, a wholly-owned subsidiary of the company, has signed a long term agreement with Mozambique LNG1 Co to procure 1 mln tn per annum liquefied natural gas for 15 years.
* BHARTI AIRTEL: Looking at a multi-vendor approach to manage its information technology infrastructure, apart from insourcing part of its technology operations. Its outsourcing contract with IBM, worth around $1 bln, comes up for renewal this year.
* CIPLA: Mylan Pharmaceuticals Inc has initiated a voluntary recall of a nasal spray manufactured by the company. It has cited defect in the container as the reason for recalling 10,390 bottles of Dymista in the US.
* COCHIN SHIPYARD: Has formed a joint venture Hooghly Cochin Shipyard, along with Hooghly Dock & Port Engineers, to set up a modern shipbuilding and ship repair facility at Nazirgunge and Salkia in West Bengal.
* COFFEE DAY ENTERPRISES: The Income Tax Department has provisionally attached 20.4 mln
encumbered shares of the company held by promoter V.G. Siddhartha.
* CORPORATION BANK: Has left its marginal cost of funds-based lending rates unchanged in the range of 8.10-8.95%.
* CYIENT: Completed acquisition of the remaining 26% stake in Cyient DLM.
* DR REDDY'S LABORATORIES: The US Food & Drug Administration has assigned "voluntary action initiated" status to the company's formulations manufacturing facility at Duvvada, Visakhapatnam.
* FEDERAL BANK: Has kept its marginal cost of funds-based lending rates across tenures unchanged.
* FORTIS HEALTHCARE: Former promoter of the company Malvinder Singh has filed a criminal complaint against his brother Shivinder Singh, spiritual head of the Radha Soami Satsang Gurinder Singh Dhillon and others alleging financial fraud and death threats.
* GMR INFRASTRUCTURE: Adani Group and the company have bid for all the half-a-dozen non-metro airports put up for privatisation by the Union government.
* HIMADRI SPECIALITY CHEMICAL: Shareholders have approved the merger of Equal Commodeal with the company.
* IDFC FIRST BANK: Has entered into an agreement to sell the entire stake it holds in Digikredit Finance.
* INDIAN BANK: Has left its marginal cost of funds-based lending rates unchanged in the range of 8.20- 8.75%.
* INDIAN OIL CORP: The Expert Appraisal Committee under the Environment Ministry has given "green signal" to the company for setting up a grassroot petroleum storage and distribution terminal in Telangana.
* INFIBEAM AVENUES: Doubling down on its financial technology play with an investment of 2.50 bln rupees to build a blockchain-enabled fintech platform catering to banking, financial services and insurances, small and midsize business' and corporates.
* JAIPRAKASH POWER VENTURES: The promoter of the company will continue to own the company but will need to infuse equity of around 20 bln rupees as banks get to reduce their stake from 49% to 22% in the power plant.
* JET AIRWAYS INDIA: The current financial situation of the company has prompted it to cut down flight operations on uneconomical domestic and international routes, which is reflected in the decline in its passenger carrying capacity in Oct-Dec. A consortium of banks, along with the National Investment and Infrastructure Fund and Etihad, will invest about 34 bln rupees in the company, leading to a much-reduced holding for founder Naresh Goyal, and a change in management control.
* KWALITY: The company which is undergoing corporate insolvency resolution process, on Saturday sought more time to declare its financial results.
* LARSEN & TOUBRO: Facilitated the payment of $3.64 mln in bribes to Indian government officials on behalf of Cognizant Technology Solutions Corp to secure permits, ranging from environmental clearance to power, at the US company's campuses in Chennai and Pune.
* LEMON TREE HOTELS: Looking to have around 12,000 rooms in its inventory by end of 2021 as part of its capacity addition plans, mainly in India.
* LUMAX INDUSTRIES: Will invest 750 mln rupees to set up in-house electronics manufacturing facilities to keep pace with growing technology demand by original equipment manufacturers.
* MINDA INDUSTRIES: Will merge HARITA SEATING SYSTEMS, part of the TVS Group, with itself.
* NBCC (INDIA): Has submitted resolution plan for JAYPEE INFRATECH.
* PNC INFRATECH: Has received an order worth 1.86 bln rupees from the Public Works Department to widen and strengthen a 63.65-km stretch of the Lakhimpur-Dudhawa two-lane expressway in Uttar Pradesh
* PRAKASH INDUSTRIES: Has modernised one of the four rolling mills at its plant in Raipur, Chhattisgarh, to make wire rods, with a capacity of 180,000 tn per annum.
* PUNJ LLOYD: IFCI has invoked 2.03 mln shares or 0.6% stake pledged by the company's promoter Cawdor Enterprises on Thursday.
* PUNJAB & SIND BANK: Raised its overnight, one-month, and three-month marginal cost of funds-based lending rates by 5-10 basis points.
* RELIANCE CAPITAL: Brickwork Ratings India has revised its rating on the company's long-term debt to AA, primarily due to delay in monetising non-core investments.
* RELIANCE COMMUNICATIONS: Ericsson will not accept any settlement offer by the company, unless directed by the Supreme Court. Anil Ambani-led Reliance Group has reached an agreement with more than 90% of its lenders not to sell any of the shares pledged by promoters till September.
* RELIANCE HOME FINANCE: Brickwork Ratings India has revised its rating on the company's long-term debt to AA, and upper tier-II non-convertible debentures to AA- following a ratings revision for parent RELIANCE CAPITAL.
* RELIANCE INFRASTRUCTURE: The Supreme Court has sought response from Delhi Metro Rail Corp on an appeal filed by Delhi Airport Metro Express, the company's subsidiary, against a high court order that set aside an arbitration award of around 45 bln rupees, including interest, in favour of the Anil Ambani company.
* RELIGARE ENTERPRISES: The board of the company on Saturday approved raising up to 5 bln rupees through the issue of non-convertible debentures on a private placement basis.
* STEEL AUTHORITY OF INDIA: Has started fresh process for disinvestment of alloy steels plant in
Durgapur, West Bengal.
* SUN PHARMA ADVANCED RESEARCH CO: SUN PHARMACEUTICAL INDUSTRIES's whollyowned subsidiary Sun Pharma Global FZE has dropped plan to launch Elepsia in US and returned the rights back to the company.
* TECH MAHINDRA: National Company Law Tribunal has approved withdrawal of application for merger of wholly-owned subsidiary Tech Mahindra Growth Factories with the company.
-The board of the company will meet on Thursday to consider buyback of shares.
* TRF: The board has approved issuing 2.5 bln rupees worth of non-convertible redeemable preference shares to promoter TATA STEEL, on a private placement basis.
* TV18 BROADCAST: The company, India TV and TV TODAY NETWORK have written to the Telecom Regulatory Authority of India, alleging that recently launched Hindi news channel Republic Bharat had violated broadcast sector regulations.
* UCO BANK: Has kept its marginal cost of funds-based lending rates unchanged in the range of 8.15-8.70%.
* UFO MOVIEZ INDIA: Planned merger with Chennai-based Qube Cinemas Technologies has hit a
roadblock in the National Company Law Tribunal.
* UNITECH: The Supreme Court has pulled up the company for not cooperating with forensic auditors it had appointed, and warned it of contempt proceedings for obstructing judicial work.
* VODAFONE IDEA: CARE RATINGS has cut rating on the company's non-convertible debentures to AAfrom AA.
-Likely to mop up about 200 bln rupees from its proposed stake sale in mobile tower firm Indus Tower
and monetisation of optical fibre assets.
* WIPRO: The Securities and Exchange Board of India has allowed the company to consider a share buyback despite a pending amalgamation.
* YES BANK: The Reserve Bank of India has pulled up the bank for sharing selective findings from a
"confidential" risk assessment report from the central bank on the private lender.
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