Today's Stock News – 16.07.2019
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* ADANI PORTS AND SPECIAL ECONOMIC ZONE: Is raising up to $650 mln in another overseas bond sale, following up on its $750-mln fund raise three weeks ago.
* ADITYA BIRLA FASHION AND RETAIL: Has entered into a pact to acquire 51% stake in Finesse
International Design for 600 mln rupees.
* ASHOK LEYLAND: Will shut its manufacturing unit in Pantnagar, Uttarakhand, from today till Jul 24, given the weak demand scenario.
* BRIGADE ENTERPRISES: The board has approved issuing one share for every two shares held through bonus issue.
* CAPACITE INFRAPROJECTS: The board will meet on Friday to consider raising funds through qualified institutional placement of shares.
* CIPLA: UK arm, in joint venture with Jiangsu Acebright, will set up a new company in China. The arm will invest up to $24 mln for 80% stake in the joint venture.
* COX & KINGS: STCI Finance invoked pledge on 232,163 shares on Thursday and Friday.
* DEWAN HOUSING FINANCE CORP: Needs between 25-30 bln rupees of fresh equity investments to sustain lending operations.
* DR REDDY'S LABORATORIES: The US Federal circuit court of appeals in washington has upheld lower court rulings that the company did not infringe two patents of British drug maker Indivior related to Suboxone.
* EID PARRY INDIA: The board of the company will meet on Jul 29 to approve raising 1 bln rupees through the issuance of non-convertible debentures in one or more tranches.
* GAIL (INDIA): The Centre is mulling hiving off the gas transmission operations of the company into a separate entity, which would be a fully-owned subsidiary of the state-owned gas major.
* GREAVES COTTON: Has invested 160 mln rupees in subsidiary Ampere Vehicles by acquiring 1.07 mln shares through primary and secondary purchases.
* HDFC BANK: The board will meet on Saturday to consider declaration of a special interim dividend for the year 2019-2020 (Apr-Mar).
* HINDALCO INDUSTRIES: Has raised the prices of aluminium ingots, wire rods and billets by more than 1% each with effect from Thursday.
* HINDUSTAN CONSTRUCTION CO: The National Green Tribunal has raised the penalty slapped on GAMMON INDIA and the company to 20 mln rupees each for damaging the environment by dumping construction debris into Chenab and Tawi rivers in Jammu & Kashmir.
* HINDUSTAN UNILEVER: Is launching a new laundry brand after three decades, which appears to be aimed at the country's biggest retailer Future Group.
* INDIAN OIL CORP: A threat by the company to stop jet fuel supplies to Air India at some airports was resolved after intervention by the aviation ministry late Monday.
* INTERGLOBE AVIATION: IndiGo's decision to drop Pratt and Whitney in favour of CFM International for a $20-bln jet engine contract for its fleet of 280 Airbus A320neo and A321neo planes was driven by commercial considerations and not just technical or performance criteria.
* JET AIRWAYS (INDIA): The committee of creditors of the company will meet today for the first time after the National Company Law Tribunal initiated bankruptcy proceedings against the airline.
* JSW STEEL: Said it was "anxious" about the reports of fraud that had emerged at Bhushan Power and Steel, though it was not "backing out from the ongoing resolution process for now".
* JUBILANT LIFE SCIENCES: Has raised Vitamin B3 prices by 10% with immediate effect for non-contract customers and existing contracts permit.
* LARSEN & TOUBRO: GMR INFRASTRUCTURE, Adani Group, RELIANCE INFRASTRUCTURE and the company are among the prospective investors for developing the 160-bln-rupee greenfield Jewar airport project in Greater Noida.
* MAHANAGAR TELEPHONE NIGAM: A Group of Ministers will meet today to discuss issues pertaining to revival of Bharat Sanchar Nigam and the company.
* REC: Plans to raise at least 5 bln rupees by issuing bonds maturing in three years and one month, and has invited bids for the same on Wednesday.
* RELIANCE COMMUNICATIONS: The resolution professional to the company, Reliance Infratel and Reliance Telecom, has invited expression of interest from potential bidders on or before Jul 31.
* SPICEJET: Over 20 pilots of various airlines have been temporarily taken off duty on the orders of the aviation regulator so far in July, after a series of incidents, including the one at Mumbai airport involving a plane of the airline, a senior official said.
* STATE BANK OF INDIA: The Reserve Bank of India has imposed a 70-mln-rupee penalty on the bank for not following central bank's rules on loan classification with regards to its financial position as the end of March 2017.
* SUZLON ENERGY: Is staring at a default on redemption of its foreign currency convertible bonds worth $172 mln, or 12 bln rupees, due today, and has told bondholders they will have to wait until banks accept its proposed one-time settlement plan.
* TATA MOTORS: Said executive director and chief operating officer Satish Borwankar has ceased to be a director in company's board after completion of his tenure.
* UNION BANK OF INDIA: RBI has imposed 1-mln-rupee penalty on the bank for non-compliance with cyber security norms.
* VEDANTA: Has raised the prices of aluminium ingots by more than 1% with effect from Thursday, trade sources told.
* VODAFONE IDEA: Is said to have repaid a sizeable chunk of the almost 43 bln rupees of loans due to be cleared in this financial year using a portion of its 250-bln-rupee rights issue proceeds.
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