Today's Stock News - 16.08.2019: 09.00 Am
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* ALPS INDUSTRIES: Settled dues of 420 mln rupees with SYNDICATE BANK for 90 mln rupees.
* AUROBINDO PHARMA: Has received the US Food and Drug Administration approval for generic of Salagen.
* AXIS BANK: Aditya Birla Health Insurance Co has announced bancassurance tie-up with the bank to offer holistic health insurance solutions to the bank's customers across the nation.
* BHARTI AIRTEL: Is ready to shift gears in the tariff game by offering a slew of incentives and services for its high spending, postpaid customers, seeking to sustain its revenue momentum.
* BOSCH: During Jul-Sep, the company will observe 'no production days' ranging up to 10 days per month at various powertrain solutions plants.
* COAL INDIA: The company's 54 coal mining projects are facing delay due to various reasons such as contractual issues and delay in green clearances among others.
* COFFEE DAY ENTERPRISES: Approved the sale of its global village technology park, valued between 26 bln rupees and 30 bln rupees, to the Blackstone Group as suggested in the letter allegedly written by its late chairman and managing director V.G. Siddhartha.
* COCHIN SHIPYARD: Jose V.J. has been appointed chief financial officer of the company for five years starting Aug 1.
* COX & KINGS: YES BANK invoked pledge on 13% promoter stake in the company on Jul 29.
* DEWAN HOUSING FINANCE CORP: Has defaulted on 44.8-mln-rupee interest payment on nonconvertible debentures, due Wednesday.
* DR REDDYS LABORATORIES: Has received the US Food and Drug Administration approval for generic of Toviaz drug.
* FORTIS HEALTHCARE: Has filed a civil suit against its former promoters--brothers Malvinder Singh and Shivinder Singh--and other entities to recover 5.2 bln rupees from them.
* GLENMARK PHARMACEUTICALS: Has indicated that it is looking at divesting some of its non-core global assets, besides getting a minority investor in Glenmark Life Sciences, its bulk drug arm, in an attempt to reduce its net debt levels. The company looks to reduce 7-8 bln rupees of debt during the financial year.
* HDFC LIFE INSURANCE CO: Standard Life (Mauritius Holdings) sold 3.32% stake or 67.1 mln shares of the company at 480.70 rupees a share through a bulk deal on the National Stock Exchange.
* HERO MOTOCORP: Shut down manufacturing units from Thursday till Sunday.
* IDFC: Dharmesh Mehta, former managing director and chief executive officer at Axis Capital, along with other investors, has entered into an agreement with IDFC Financial Holding Co, a subsidiary of the company, to acquire 100% stake in IDFC Securities.
* INDIABULLS HOUSING FINANCE: Moody's Investors Service has downgraded the company's long-term corporate family rating to "Ba2" from "Ba1", and changed its outlook to "negative" from "stable", citing "renewed" pressure on the company's cost and availability of funds.
* JINDAL STEEL & POWER: Has entered into a pact with a potential buyer for the sale of its mines and mineral assets in Botswana, Africa.
* JSW STEEL: The company said it has secured approval from the Ahmedabad bench of the National
Company Law Tribunal for amalgamation of subsidiaries Dolvi Minerals and Metals, JSW Steel Processing Centres, and JSW Steel (Salav), as well as step-down subsidiary Dolvi Coke Projects, with itself.
* LYPSA GEMS AND JEWEL: Nomura Singapore has sold 1.65% stake or 488,663 shares in the company at 3.85 rupees apiece through a bulk deal on the National Stock Exchange.
* OIL & NATURAL GAS CORP: Is investing around 830 bln rupees in 25 major projects to boost oil and gas production, which has stagnated over last years, Shashi Shanker, chairman and managing director said.
* RELIANCE INDUSTRIES: Which will commercially roll out its fibre-to-the-home broadband network under JioFiber next month, may consider buying more cable companies to support its plans.
* STEEL AUTHORITY OF INDIA: Has proposed to raise further debt by up to 50 bln rupees in the next one year through private placement of secured non-convertible debentures or bonds.
* SUN PHARMACEUTICAL INDUSTRIES: The company has signed an exclusive global licensing pact with Indian Institute of Chemical Technology, Hyderabad, for certain compounds for which the institute has patents for use in its drugs.
* TATA MOTORS: Ratings agency CRISIL has downgraded the company's long-term rating to 'AA-' from 'AA' due to weak business outlook for its subsidiary Jaguar Land Rover Automotive.
* TITAGARH WAGONS: Says has bagged orders worth 11.25 bln rupees from the Maharashtra Metro Rail Corp.
* VARDHMAN TEXTILES: The board of the company has approved the merger of its subsidiaries--VMT Spinning Co, VTL Investments, Vardhman Nisshinbo Garments Co, and Vardhman Acrylics--with itself.
* WIPRO: Has set a target of $50 mln in automation-only deals, as the technology services company strives to grow faster through digital-led revenue.
* YES BANK: Set the issue price of its qualified institutional placement at 83.55 rupees per share, and closed the issue on Wednesday.
- Is planning to raise an additional $600 mln from large investors to bolster its capital buffers.
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