Today's Stock News - 29.08.2019: 09.00 Am
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* ABG SHIPYARD: The Enforcement Directorate will attach assets of the company, SKIL Group and five other real estate developers in the IL&FS fraud investigation case.
* ADHUNIK METALIKS: Criticising UK-based Liberty House Group for not implementing insolvency resolution plans for companies it won bids for in India, the National Company Law Appellate Tribunal ordered liquidation of the company.
* BALKRISHNA INDUSTRIES: Has maintained a volume growth guidance of 3-5% for 2019-20 (Apr-Mar) due to absence of a price war amongst industry players.
* BANK OF BARODA: Compensation committee of board will meet on Tuesday to consider issuance of 150 mln shares to employees.
* BHARTI AIRTEL: The planned merger of the company's Kenyan unit with the partly state-owned Telkom Kenya has been stalled, with the east African nation's anti-corruption commission suspending the deal amid an ongoing probe into allegations of misappropriation of public funds at Telkom.
* CG POWER AND INDUSTRIAL SOLUTIONS: Will seek 5 bln rupees worth of equity-based funding and modify the repayment timeline for debt due for the next 12 months, the company told analysts.
* COAL INDIA: The government has allowed 100% foreign direct investment under the automatic route for sale of coal and coal mining activities, including associated processing infrastructure.
* COFFEE DAY ENTERPRISES: Has got approval from Registrar of Companies for extending the date of annual general meeting by 45 days for the financial year ended Mar 31, 2019.
* COLGATE PALMOLIVE INDIA: Will remain focused on maximising profitable growth, Chairman Mukul Deoras said.
* COX & KINGS: The Board of Regents of the University of Texas System-Saga Tree Capital Advisors sold 1.2 mln shares or 0.7% stake in the company at 4.69 rupees a share through a bulk deal on BSE.
* DEWAN HOUSING FINANCE CORP: Defaulted on a 229.1-mln-rupee interest payment on nonconvertible debentures that was due on Wednesday.
* DLF: Has almost completely leased its commercial project in Gurugram, Haryana, with an area of 2.5 mln sq ft, and expects to earn rent of about 3.75 bln rupees annually.
* HOUSING DEVELOPMENT FINANCE CORP: Has filed an application in the National Company Law Tribunal for permission to sell office space at the Bandra Kurla Complex in Mumbai, which was lying unused and had been mortgaged to the housing finance major by JET AIRWAYS (INDIA) for 4 bln rupees.
* INDIABULLS HOUSING FINANCE: Shareholders have approved the company's plan to raise up to 1.5 trln rupees by issuing non-convertible debentures on private placement basis in 2019-20 (Apr-Mar).
* INDIAN OIL CORP: Plans to spend 100 bln rupees on developing city gas networks in the next eight years, Chairman Sanjiv Singh said.
- It will be difficult to continuously support Air India if they delay payments for fuel persistently,
Chairman Singh said.
- The company is at an advanced stage of making lithium-free batteries that can be used in electric
vehicles, Chairman Sanjiv Singh said.
- Chairman and Managing Director Sanjeev Singh said the west coast refinery project, in which Abu
Dhabi National Oil Co and Saudi Aramco are to hold 25% stake each, is on track.
* INFOSYS: Has entered into a collaboration with Microsoft and Johnson Controls to deliver smart buildings and spaces solutions.
* INTERGLOBE AVIATION: Institutional shareholders were not unanimous on a resolution to expand the company's board, with 41% of those voting among them giving it a thumbs down.
* JET AIRWAYS (INDIA): South America's Synergy Group Corp plans to pick up 49% stake in the company.
* JM FINANCIAL: JM Financial Private Equity has bought significant minority stake in nutraceutical firm Innovcare Lifesciences.
* L&T FINANCE HOLDINGS: IIFL Wealth Group will acquire L&T Capital Markets, a wholly owned subsidiary of the company, for 2.3 bln rupees.
* LAKSHMI VILAS BANK: Parthasarathi Mukherjee, managing director and chief executive officer of the bank, resigned on Wednesday citing "personal reasons".
* LIC HOUSING FINANCE: Board has approved raising up to 495 bln rupees by issuing non-convertible debentures in one or more tranches.
* MAS FINANCIAL SERVICES: The finance committee of the company has approved investing up to 60 mln rupees in subsidiary MAS Rural Housing & Mortgage Finance.
* MAHINDRA CIE AUTOMOTIVE: Expects volume growth of 2-3% in 2019, as it plans to prioritise
margins over sales.
* NESTLE INDIA: Will replace INDIABULLS HOUSING FINANCE in the Nifty 50 index effective Sep 27.
* NEW DELHI TELEVISION: Step-down subsidiary Red Pixels Ventures will pay 20% of the 121-mln-rupee demand raised by the Income Tax Department in two tranches--15 mln rupees on Aug 28 and the remaining 10 mln rupees within a month.
* OIL & NATURAL GAS CORP: Indian Railway Finance Corp--the finance arm of Indian Railways--and the company are understood to be exploring the dollar bond market to raise $1 bln each.
* PENINSULA LAND: Is facing high refinance risks for its repayment of over 12 bln rupees due in the next 18 months.
* PIRAMAL ENTERPRISES: Board has decided to defer the issuance of non-convertible debentures of up to 30 bln rupees.
* RBL BANK: Has said that sale of the bank's shares by its employees on Jul 30 was a routine activity.
* SADBHAV INFRASTRUCTURE PROJECT: Shareholders have approved the company's proposal to sell nine of its operational road assets to IndInfravit Trust for an enterprise value of 66.11 bln rupees.
* SPICEJET: The airline's plans to connect London have been grounded again following its failure to secure slots at the Heathrow airport, Europe's busiest.
* SUN PHARMACEUTICAL INDUSTRIES: A preliminary enquiry by the Securities and Exchange Board of India has found no merit in allegation of violation of securities laws, levelled by a whistleblower, against the company.
* TALWALKARS BETTER VALUE FITNESS: The Master Trust Bank of Japan as trustee for Nissay World Sports Mother Fund sold 182,747 shares or 0.6% stake in the company at 8.15 rupees a share through a bulk deal on the National Stock Exchange.
* TALWALKARS HEALTHCLUBS: The Master Trust Bank of Japan as trustee for Nissay World Sports Mother Fund sold 177,514 shares or 0.57% stake in the company at 14.40 rupees a share through a bulk deal on the National Stock Exchange.
* TIME TECHNOPLAST: Dalton Asia (Master) Fund LP bought 2.3 mln shares or 1% stake in the
company at 64.35 rupees per share through a bulk deal on the National Stock Exchange.
* TRIVENI TURBINE: The National Company Law Appellate Tribunal has directed General Electric Co to provide technology, marketing and other incidental data to its joint venture with the company, GE Triveni.
* VEDANTA: Cairn Oil and Gas, part of the Vedanta Group, has drawn up plans to spend over $1.1 bln in the coming 18 months to improve crude oil production in the Mangla, Bhagyam and Aishwarya fields in Barmer.
* VODAFONE IDEA: Has received shareholders' approval to raise its authorised share capital to 500 bln rupees.
* WOCKHARDT: India Ratings and Research has downgraded the company's long-term issuer rating to BB+ from BBB-. The outlook is negative.
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