Today's Stock News – 25.03.2019
KEEP REFRESH FOR NEXT UPDATE
* ALKEM LABS: US Food and Drug Administration told the company that the manufacturing of a drug product at the St. Louis unit in the US be withheld until completion of the final evaluation by the regulator.
* AMBER ENTERPRISES INDIA: Will acquire 80% stake in Sidwal Refrigeration Industries, which will also include Sidwal Technologies' business.
* AURIONPRO SOLUTIONS: Arm Integro Technologies has won a project in banking and fintech space, valued over 200 mln rupees, from a south-east Asian bank.
* CCL PRODUCTS INDIA: The board has approved an interim dividend of 1.75 rupees/share for 2018—19 (Apr-Mar).
* CENTRAL BANK OF INDIA: Has sold its 4% stake in Clearing Corp of India for 1.2 bln rupees to ICICI General Insurance.
* CIPLA: Non-executive Chairman Y.K. Hamied sold 0.34% stake in the company at 532 rupees a share through a block deal on the BSE.
* DCW: Board meet, which was scheduled for Friday, to consider raising up to 4.8 bln rupees through warrants, debt issue, has been deferred.
* DECCAN GOLD MINES: Karnataka High Court has directed the state government to consider the
company's mining lease plea for Ganajur gold mine project.
* DR REDDY'S LABORATORIES: US Food & Drug Administration has issued nil observations on the company's research and development facility at Miyapur in Hyderabad.
-Granting partial relief to the company, the district court of New Jersey, US, on Thursday, had
dismissed 17 out of 22 allegations made by investors against the drug company.
* EID PARRY INDIA: The board has approved a second interim dividend of 1 rupee per share for 2018-19 (Apr-Mar).
* HINDUSTHAN NATIONAL GLASS & INDUSTRIES: In a relief to banks like STATE BANK OF INDIA, the company promised its bankers that it will repay the complete outstanding amount of 25 bln rupees by April 2019.
* HOUSING DEVELOPMENT FINANCE CORP: Has raised 10 bln rupees through the issuance of Masala bonds, which are rupee-denominated papers sold in the international market.
* IDBI BANK: Still retains the character of a state-run lender and will continue to be governed by existing rules on hiring, even though it is technically a private bank now due to a drop in the government's holding following the acquisition of a 51% stake by Life Insurance Corp.
* INDIAN BANK: The Securities and Exchange Board of India has approved the bank's request to issue 40 mln fresh equity shares to permanent employees through the employee stock purchase scheme.
* INFOSYS: Will invest $10 mln in The House Fund II LP, focused on artificial intelligence-based startups from students and alumni of the University of California, Berkeley.
* JET AIRWAYS (INDIA): Lenders are likely to pick up a substantial stake in the airline as the possibility of finding a new investor for the company in two-three months is low.
-The company has grounded seven more aircraft due to non-payment of dues to lessors.
-As lenders moved in to take charge of the company, the STATE BANK OF INDIA may ask a retired
senior banker to head the airline and guide it out of the financial mess.
-The lenders to the company worked through the weekend to finalise the details of a new resolution
plan to rescue the failing airline, which includes an emergency funding of at least 15 bln rupees.
-Minority lenders, which are part of the consortium that has lent to the company, have agreed to grant priority status to funding that would be provided by STATE BANK OF INDIA and PUNJAB NATIONAL BANK.
-The board of Etihad Airways PJSC will meet on Mar 31 to take a final decision on whether the Abu
Dhabi-based carrier should make a fresh investment in the company or exit the ailing airline.
* JYOTI STRUCTURES: The National Company Law Appellate Tribunal has set aside an order to the company. It has also asked the Mumbai bench of National Company Law Tribunal to consider a 40-bln-rupee resolution plan submitted by Sharad Sanghi and others.
* KALPATARU POWER TRANSMISSION: The company appointed Ram Avtar Patodia as its chief
financial officer with effect from Apr 1.
* KARNATAKA BANK: Has reported a 132.6-mln-rupee fraud to the Reserve Bank of India in working capital loans given to SRS FINANCE.
* LARSEN & TOUBRO: Chairman AM Naik said his company was not seeking a hostile takeover of
MINDTREE and was open to talks with the information technology services firm's founders to allay their concerns.
* MAHANAGAR TELEPHONE NIGAM: The Department of Telecommunications has asked state
governments not to disconnect electricity connections of Bharat Sanchar Nigam and the company on account of pending dues as they are providing strategic services for the upcoming elections.
* MINDTREE: The promoters of the company would like to know the "contours of the independence" being offered by LARSEN & TOUBRO, said chairman Krishnakumar Natarajan as the stalemate over the hostile takeover bid launched by the engineering giant extended into the second week.
* OIL & NATURAL GAS CORP: The company's board has approved an interim dividend of 1 rupee/share for 2018-19 (Apr-Mar).
* POWER FINANCE CORP: The board will meet on Wednesday to consider raising funds through term loans from banks, issuance of bonds, commercial paper from domestic and international markets, for 2019-20 (Apr- Mar).
* RAMCO CEMENTS: The company increased its stake in Ramco Industrial and Technology Services to 94.12% by acquiring 4.5 mln shares.
* RELIANCE COMMUNICATIONS: Promoter pledged 4.52% stake in the company on Friday.
* RELIANCE INFRASTRUCTURE: Promoter pledged 1.56% stake in the company on Mar 6. Lenders have invoked 1.9% promoter-pledged stake on Mar 8.
* RELIANCE POWER: Lenders have invoked 1.55% promoter-pledged shares between Mar 18-22.
* SUN PHARMACEUTICAL INDUSTRIES: BSE has given derivative trade details of the company's
December contract to the Mumbai Police to determine if some traders and an equity research firm had conspired to hammer the stock.
* SONATA SOFTWARE: The company, through its subsidiary, will acquire 10% stake in US-based Retail 10X for $800,000.
* TATA CONSULTANCY SERVICES: The company has moved a federal appeals court against a $420-mln verdict in a trade secrets suit filed by US software firm Epic Systems, after the verdict was upheld by a lower court.
* TATA MOTORS: Will increase prices of its passenger vehicles by up to 25,000 rupees across all variants starting April.
* TECH MAHINDRA: After years of slow growth in the telecommunication segment, the company is
expecting to get back to a strong-growth mode in this business, primarily driven by fifth-generation cellular mobile technologies.
* THOMAS COOK INDIA: Is betting big on enhanced distribution with special focus on tier-II and III cities, and product innovation to drive growth.
* TTK PRESTIGE: The company's board will meet on Friday to recommend issue of bonus shares.
* TRF: Board has approved allotment of 250 mln preference shares worth 2.5 bln rupees to TATA STEEL on private placement basis.
* TV TODAY NETWORK: Income Tax Appellate Tribunal has disposed off 692.40-mln-rupee income tax demand for assessment years 2013-14 (Apr-Mar) and 2014-15.
* TVS ELECTRONICS: The company will sell its entire stake in its arm Benani Foods to Waycool Foods and Products for 16.32 mln rupees.
* VIKAS WSP: The company has received export and domestic orders worth 1.77 bln rupees for various guar gum food grade products.
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