Today's Stock News – 21.05.2019
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* ADANI GREEN ENERGY: Promoters Adani Tradeline LLP and Universal Trade and Investments will together sell 87.5 mln shares or 5.59% stake in the company through an offer for sale.
* ALKEM LABORATORIES: Has received US Food and Drug Administration's approval for generic of Sensipar tablet.
* ASTRAL POLY TECHNIK: Board has approved raising 1 bln rupees by issuing non-convertible debentures or debt securities, in one or more tranches.
-Board has approved allotment of 723,200 shares to shareholders of Rex Polyextrusion, upon merger
with the company.
* GAIL (INDIA): Board will meet on May 27 to mull issuance of bonus shares.
* HINDALCO INDUSTRIES: Cut prices of aluminium products by 1.5% with effect from Saturda.
* HINDUSTAN PETROLEUM CORP: HPCL Shapoorji Energy has received environmental clearance for its proposed 5-mtpa liquefied natural gas terminal at Chhara port in Gujarat, and the project is expected to be completed in about three years. HPCL Shapoorji Energy is the company's joint venture with Shapoorji Pallonji Group.
* ICICI BANK: Will buy 9.9% stake in India International Clearing Corp for 338.50 mln rupees.
* INDIAN OIL CORP: RELIANCE INDUSTRIES, which was about half the size of the company till nearly 11 years ago, has displaced the public sector refiner as the biggest company by revenue.
-Auto companies' decision to end production of diesel cars won't impact the sales mix at the company
as maximum diesel is consumed by heavy vehicles.
* INFOSYS: Has been asked by an Australian court to share a copy of the source code for a banking solution user interface it had built for both Qudos Bank and Australian Military Bank, within seven days.
* ITD CEMENTATION INDIA: Reliance Capital Trustee Co, through various schemes of Reliance Mutual Fund, sold 2.60 mln shares or 1.51% stake in the company in the open Market on May 16.
* JAYPEE INFRATECH: The committee of creditors of the company is understood to have turned down a request by the Adani group that it be allowed to submit a bid for the revival of the bankrupt firm.
* JET AIRWAYS INDIA: The Hinduja Group will start the process of bidding for the company this week, having obtained the assent of key stakeholders in the grounded airline including founder Naresh Goyal and Etihad Airways, strategic investor in the carrier.
* JSW STEEL: Board will meet on Friday to consider raising funds through non-convertible debentures and warrants, or other convertible securities, by way of qualified institutional placement.
* LAKSHMI VILAS BANK: Has denied charges of misappropriation of funds from four fixed deposit accounts aggregating 7.9 bln rupees, as alleged by Religare Finvest, a subsidiary of RELIGARE ENTERPRISES.
* LARSEN & TOUBRO: On Monday acquired 73,953 shares of MINDTREE from the open market, taking its shareholding in the information technology services firm to 26.53%.
* NATIONAL ALUMINIUM CO: Has rolled back most of the price cuts announced for ingots earlier this month.
* ORCHID PHARMA: Is one step closer to finalising its second attempt to find a resolution plan under the corporate insolvency resolution process it initiated earlier, as the resolution professional received three resolution plans as on Friday.
* PANACEA BIOTEC: The company's oncology parenteral formulation facility at Baddi in Himachal Pradesh has received the US Food and Drug Administration's approval to manufacture and supply azacitidine injection, a generic of Celgene Corp's Vidaza, in the US.
* SUN PHARMACEUTICAL INDUSTRIES: Has received US Food and Drug Administration's approval for generic of Adderall XR drug.
* TV TODAY NETWORK: Board has granted in-principle approval to transfer the company's radio business to wholly-owned subsidiary Vibgyor Broadcasting, as a going concern.
* VEDANTA: Cut prices of aluminium ingots by 1.5% with effect from Saturday.
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