Today's Stock News – 10.07.2019
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* ADANI PORTS AND SPECIAL ECONOMIC ZONE: The board of directors of the company will meet on Friday to consider raising up to $700 mln through issuance of dollar-denominated foreign currency bonds.
* ASHOK LEYLAND: Despite the near 12-month slowdown in the automobile sector, the company is
optimistic about its sales in 2019-20 (Apr-Mar), as it expects buying ahead of the implementation of Bharat Stage VI emission norms to drive growth in the second half of the financial year.
* BHARAT HEAVY ELECTRICALS: Has entered into a pact with CONTAINER CORP OF INDIA to set up a rail-based logistics terminal in Haridwar.
* BHARTI AIRTEL: Subsidiary Airtel Africa plc's shares have been listed and admitted for trading on the London Stock Exchange's premium segment and on the Nigerian Stock Exchange.
* GITANJALI GEMS: The company's resolution professional is seeking to implead the Enforcement
Directorate and the Serious Fraud Investigation Office in the insolvency resolution case since certain assets are still held by the investigation agencies.
* HIMACHAL FUTURISTIC COMMUNICATIONS: Got order worth 1.87 bln rupees from Bharat Sanchar Nigam.
* HOUSING DEVELOPMENT FINANCE CORP: Realty developer Vatika Group has repaid debt worth 5 bln rupees to non-banking finance companies the company and INDIABULLS HOUSING FINANCE.
* INDUSIND BANK: The board of the bank has appointed Haribhakti & Co LLP Chartered Accountants as its statutory auditors for the financial year 2019-20 (Apr-Mar) in place of S.R. Batliboi & Co, which has been barred by the Reserve Bank of India from taking up audit assignments in commercial banks in the ongoing financial year.
* INTERGLOBE AVIATION: Rakesh Gangwal, one of the promoters of the company, has sought
intervention by the Securities and Exchange Board of India, alleging flouting of corporate governance norms by Rahul Bhatia, another promoter.
* INTRASOFT TECHNOLOGIES: Washington University has sold 110,559 shares, or 0.75% stake, in the company at 99 rupees apiece in a bulk deal on the National Stock Exchange.
* KRBL: ICRA has revised the company's long term rating to 'AA-' from 'AA' due to the provisional
attachment of properties worth 150 mln rupees by the Enforcement Directorate at Dhuri, Punjab.
* LEMON TREE HOTELS: Former executives of Berggruen Hotels are planning to take legal recourse to claim their share from the sale proceeds of 6.05 bln rupees that the company will pay to buy out 100% shareholding in the mid-market hotel chain.
* MANPASAND BEVERAGES: Statutory auditor Mehra Goel & Co has resigned, effective Monday.
* MARICO: Is aiming to post an 8-10% growth in consolidated volumes accompanied by healthy market share gains in the domestic market, Managing Director Saugata Gupta said.
* MAX FINANCIAL SERVICES: Has denied having approached the Insurance Regulatory and Development of Authority for sale of stake in its life insurance subsidiary to AXIS BANK.
* MCLEOD RUSSEL INDIA: Lender Vistra ITCL (India) has acquired 1.9 mln shares or 1.82% stake held by the company's promoter Williamson Financial Services through invocation of pledged shares on Jun 27.
* MINDTREE: Co-founder Kamran Ozair is learnt to have resigned from the firm, days after three other founders quit.
* NLC INDIA: Has commissioned 63 MW capacity of the 100-MW solar photovoltaic power plant at
Tirunelveli district in Tamil Nadu, awarded by TANGEDCO, with effect from Sunday.
* NTPC: Terminated contracts it had awarded to BGR Mining & Infra for development of its coal mines in Jharkhand and Chhattisgarh over allegations of corruption against senior officials of the private mining company.
* OIL AND NATURAL GAS CORP: Government likely to give up direct controlling stakes in the company, INDIAN OIL CORP, NTPC, GAIL INDIA.
* RELIANCE COMMUNICATIONS: A probe commissioned by STATE BANK OF INDIA has flagged
transactions 55 bln rupees in the books of the company and two other Anil Ambani-led Reliance Group entities for further investigation.
* SH KELKAR AND CO: The buyback offer will open on Monday and will close on Jul 26.
* STATE BANK OF INDIA: Will reduce its marginal cost of funds-based lending rates by 5 basis points across tenures with effect from today.
* ZEE MEDIA CORP: CARE RATING has revised its rating on the company's long-term bank facilities of 2.13 bln rupees to 'BBB' from 'A', and that on short-term facilities of 380 mln rupees to 'A3+' from 'A1'.
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