Today's Stock News – 11.07.2019
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* AJMERA REALTY & INFRA INDIA: Entered into a pact with a local partner in Mumbai to jointly develop commercial project at Ghatkopar in the city.
* AUROBINDO PHARMA: Has launched cinacalcet hydrochloride tablets, a generic of Amgen Inc's
Sensipar, in 30 mg, 60 mg and 90 mg strength in the US.
* AXIS BANK: Board will meet on Jul 20 to mull options to raise funds by issue of equity shares or other instruments, or securities representing equity shares, either through qualified institutional placement route or preferential.
* BANK OF INDIA: Has cut its overnight, six-month, and one-year marginal cost of funds based lending rates by 5 basis points, effective Wednesday.
* BRIGADE ENTERPRISES: Board will meet on Monday to consider issue of bonus shares, and raising funds through preferential issue of securities.
* CAN FIN HOMES: Board will seek shareholders' approval at the annual general meeting--to be held on Jul 17--to raise up to 60 bln rupees through issuance of redeemable debentures on private placement basis, in one or more tranches.
* COX & KINGS: Has defaulted on a 1.25-bln-rupee payment on commercial papers due on Tuesday.
* DEWAN HOUSING FINANCE CORP: Banks will provide further loans to the company only if promoters of the embattled home financier were to pledge their shares as collateral.
* EVEREADY INDUSTRIES INDIA: Vistra ITCL (India) has invoked pledge on 2.7 mln shares or 3.7% stake in the company between Jun 11 and Jul 8.
* GREAVES COTTON: Has invested 225 mln rupees in subsidiary Ampere Vehicles through acquisition of 1.5 mln shares through primary and secondary purchases.
* HDFC BANK: Managing Director Aditya Puri has insisted even though he knew Vijay Mallya and Nirav Modi personally, there was no space to mix friendship and banking, which is why his bank did not lend to them despite them seeking funds.
* HOUSING DEVELOPMENT FINANCE CORP: The National Company Law Appellate Tribunal has upheld an order of the principal bench of the National Company Law Tribunal rejecting the insolvency plea against RHC Holding, an entity promoted by billionaire brothers Malvinder and Shivinder Mohan Singh.
* INDIAN OIL CORP: Refinery and petrochemicals project being implemented by Ratnagiri Refinery and Petrochemicals may come up in Raigad, Maharashtra. It is a joint venture between Saudi Aramco, Abu Dhabi National Oil Co, the company, HINDUSTAN PETROLEUM CORP and BHARAT PETROLEUM CORP.
* INTERGLOBE AVIATION: Rahul Bhatia-operated InterGlobe Enterprises, which holds 37.9% stake in the company, has said that the related-party transactions with the latter has been done at an arm's length, refuting claims of co-promoter Rakesh Gangwal.
-Rahul Bhatia-controlled InterGlobe group is in advanced discussions to acquire the Burger King India franchise from private equity firm Everstone Capital for about 14 bln rupees.
-The government will scrutinise a disputed shareholder pact between Rakesh Gangwal and Rahul
Bhatia, the founders of the company, even as it will let the SEBI look into Gangwal's allegations of
governance failure in the company.
* JET AIRWAYS (INDIA): Etihad Airways has approached lenders on revival of the company, weeks after the National Company Law Tribunal approved the corporate insolvency resolution process against the nowdefunct airline.
* JINDAL STEEL & POWER: Said the falling through of deal for sale of Tamnar unit (1,000 MW) to JSW Energy is good for the company.
* MSTC: Has signed a memorandum of understanding with Heavy Engineering Corp for disposal of its surplus, condemned, scrap, and obsolete material through electronic auctions.
* NTPC: Received licence from the Central Electricity Regulatory Commission for inter-state trading in electricity across India.
* PUNJAB CHEMICALS & CROP PROTECTION: A fire occurred at one section of the company's agro chemical division in Mohali.
* RBL BANK: International Finance Corp, the private sector investment arm of World Bank, said it is in talks to lend $150 mln to the bank.
* RELIANCE INDUSTRIES: Reliance Jio Infocomm adjusted gross revenue, or revenue from licensed services in Jan-Mar quarter rose 3.76% on quarter to 98.39 bln rupees.
* RELIGARE ENTERPRISES: Will divest its entire stake in subsidiary Religare Finvest to TCG Advisory Services.
* RTS POWER CORP: Will set up a manufacturing facility in Rajasthan, with a capacity of 12,000 tn per annum, to manufacture steel wire and strips, galvanized and non-galvanized, and other downstream products.
* STATE BANK OF INDIA: Chairman Rajnish Kumar has said that lenders to Essar Steel will appeal against a National Company Law Appellate Tribunal order approving ArcelorMittal India's resolution plan for Essar Steel.
* SUN PHARMACEUTICAL INDUSTRIES: The company has received an approval from the US Food and Drug Administration for generic of Atelvia.
* TATA CONSULTANCY SERVICES: Could benefit from Deutsche Bank's plan to invest 13 bln euros in technology to revive its business, but expects to face some short-term pain from the German lender's moves to restructure operations.
* TITAN CO: Has reiterated its ambitious five-year plan to drive business across verticals, and achieve a sales target worth 500 bln rupees by 2022-23 (Apr-Mar).
* TVS MOTOR CO: Has launched TVS Sport, its 100cc economy motorcycle, in Sri Lanka.
* V-MART RETAIL: Has opened a new store in Uttar Pradesh, taking the total number of its outlets in the state to 89.
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