Today's Stock News – 01.07.2019
* ICICI BANK: Has raised $100 mln through dollar-denominated bonds maturing in five years.
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* ADANI POWER: The Ahmedabad bench of the National Company Law Tribunal has approved the
company's resolution plan for Korba West Power Co.
* ALEMBIC PHARMACEUTICALS: The US Food and Drug Administration has not issued any observation to the company's solid oral oncology facility in Panelav, Gujarat.
* ASTER DM HEALTHCARE: True North's Fund III has sold its entire 9.15% stake in the company for 5.50 bln rupees.
* AVENUE SUPERMARTS: Has raised 1 bln rupees through issuance of commercial papers maturing on Aug 27.
* BALKRISHNA INDUSTRIES: Has commenced the trial run of production from phase-1 of carbon black project, which has a capacity of 60,000 tn per annum, at Bhuj plant in Gujarat.
* BANK OF BARODA: Has entered into a transaction with DEWAN HOUSING FINANCE CORP to acquire loans worth 30 bln rupees against its exposure to the non-bank lender, even as a lenders' consortium to the stressed non-bank lender considers a resolution plan.
* CYIENT: Denied involvement in development of the Boeing 737 MAX Manoeuvring Characteristics
Augmentation System.
* DEWAN HOUSING FINANCE CORP: Lenders to the company will decide the next course of action based on the Reserve Bank of India's Jun 7 circular for resolution of stressed assets, STATE BANK OF INDIA Chairman Rajnish Kumar said.
Sundaram Mutual Fund will temporarily suspend fresh subscription and switch-ins in four funds, with effect from today, due to their exposure to debt papers of the company.
-Lenders of the company are scheduled to meet today, seeking a solution for the 900-bln-rupee debt
that is owed to them.
* HINDUSTAN UNILEVER: Has set up a team of top executives across functions to spot digital trends and drive agility at a time when disruptive technologies are challenging businesses.
* ICICI BANK: Has raised $100 mln through dollar-denominated bonds maturing in five years.
* INOX LEISURE: Has started operations at an eight-screen multiplex cinema theatre in Hyderabad.
* INDIABULLS HOUSING FINANCE: Gurugram police has arrested one person for allegedly blackmailing the company and attempting to extort 100 mln rupees from the company, the police said in a statement on Friday.
* JET AIRWAYS (INDIA): Jet Airways Employee Consortium and AdiGroup have formed a partnership to bid to acquire up to 75% of the company through the National Company Law Tribunal process.
-The Tata Group plans to bid for some assets of the company as it undergoes bankruptcy resolution.
* KALPATARU POWER TRANSMISSION: Has received various orders worth 9.75 bln rupees.
* LARSEN & TOUBRO: Expects challenges in infrastructure segment to continue due to slower project execution on statutory approvals, slower fund allocation in government-funded jobs and liquidity crunch.
* MCLEOD RUSSEL INDIA: The auditor entity of the company has raised concerns over this Williamson Magor Group company's ability to remain in business, if its loan restructuring application with lenders does not get a favourable response.
* NMDC: Has kept the prices of lump ore and fines unchanged on month at 3,100 rupees per tn and 2,860 rupees, respectively.
* PUNJAB NATIONAL BANK: Reserve Bank of India has imposed 5 mln rupees penalty on the bank.
* RELIANCE HOME FINANCE: Has extended the maturity of non-convertible debentures worth 4 bln rupees till Oct 31 due to severe liquidity crisis in the non-banking finance sector.
* RELIGARE ENTERPRISES: Securities and Exchange Board of India has allowed Religare Finvest, a subsidiary of the company, to restructure its debts, assign loans to asset reconstruction companies, and raise funds for revival of the subsidiary.
* SADBHAV INFRASTRUCTURE PROJECT: Wholly-owned subsidiary Rohtak-Hissar Tollway has paid an outstanding debt of 65 mln rupees to lenders and cleared all pending dues.
* SJVN: Has signed a memorandum of understanding with North Eastern Electric Power Corp for joint development of power projects with an immediate focus on northeast and the eastern regions of India.
* SYNDICATE BANK: The bank's board has approved raising up to 5 bln rupees through qualified
institutional placements, in its meeting held on Saturday.
* TATA MOTORS: Is looking to form partnerships, develop new solutions and optimise investment to
transform itself and bring back profitability after struggling with sales volumes in India and China in 2018-19 (Apr-Mar).
* UCO BANK: Has raised 5 bln rupees through the issue of unsecured redeemable non-convertible fully paid up Basel III compliant tier-II bonds to Life Insurance Corp of India, at a coupon of 9.64%.
* UPL: Wholly-owned subsidiary UPL Corp, Mauritius has completed acquisition of Costa Rica-based Industrias BioQuim Centroamericana SA.
* VEDANTA: Cairn Oil & Gas, a vertical of the company, has stopped paying for its share of royalty on oil produced from its Rajasthan block following differences with partner OIL & NATURAL GAS CORP on cost recovery.
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