Today's Stock News - 01.10.2019: 09.00 Am
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* ADITYA BIRLA FASHION AND RETAIL: Piramal Group's real estate arm Piramal Realty entered into a pact with the company's Pantaloons to lease 110,000 sq ft commercial space at Piramal Agastya corporate park in Mumbai's Kurla locality.
* BHARTI AIRTEL: Plans to raise about $750 mln through the sale of overseas bonds to refinance debt and free up cash to invest in expanding its 4G network.
-Exploring the option of completely selling its stake in its tower infrastructure business to private
equity funds so that it can sharpen its focus on its core business of offering wireless services.
* BHARAT PETROLEUM CORP: A group of secretaries cleared strategic sales in the company, BEML, CONTAINER CORP OF INDIA and SHIPPING CORP OF INDIA. Stake sales in power companies THDC India and Neepco have also been approved. These could be taken over by NTPC.
* BIRLA CORP: A fire broke out at the company's unit at New Chanderia Cement Works in Chanderia, Rajasthan, on Sunday. The company has suspended operation at one of its kilns at New Chanderia Cement Works. The temporary disruption may not have any material impact on the operations of the company.
* CADILA HEALTHCARE: Will sell its rights, title and interest in Zypitamag for US and Canada markets to Canada-based Medicure Inc.
* CANARA BANK: Will introduce the repo rate-linked lending rates on retail loans and micro, small and medium enterprises, by fixing the rate at 8.30%, with effect from Tuesday.
* CG POWER AND INDUSTRIAL SOLUTIONS: Managing Director and Chief Executive Officer K.N. Neelkant has resigned orally on Monday at the meeting of the board of directors.
* COAL INDIA: The company's unions are seeking a festival bonus of at least 60,500 rupees, which was paid to each of the 270,000 workers last year for Durga Puja shopping that would include high-end mobile phones, appliances and computers, a workers' representative said.
* DEWAN HOUSING FINANCE CORP: Shareholders of the company approved allowing banks and
financial institutions to appoint a nominee director on the board, at the company's annual general meeting.
* HDFC BANK: Managing Director Aditya Puri has said banks must be allowed to take their own call on assets that they hold as security against a loan, when asked about defaults by Altico Capital to lenders.
-Managing Director Aditya Puri has admitted that there had been some slowdown in the economic
activity but insisted that this had not led to any strain on quality of its loan portfolio.
-Managing Director Aditya Puri threw down the gauntlet for e-commerce giants such as Amazon and
Flipkart who are currently conducting their annual sales, by launching a three-month long 'Festive Treats' programme that will provide discounts on financial services offering and also on over 1,000 brands.
* HINDALCO INDUSTRIES: Has cut prices of aluminium ingots, wire rods, and billets for the fourth time in a row.
* HINDUSTAN UNILEVER: Unilever Plc said its ayurvedic brand Ayush, which was relaunched to take on Baba Ramdev-led Patanjali, is only partly successful and needs tweaks to grow.
* ICICI PRUDENTIAL LIFE INSURANCE CO: Has signed a pact with Airtel Payments Bank to offer life
* INDUSIND BANK: Exposure to a large housing finance company, its subsidiaries and associates, stood at around 0.35% of its total loan book as on Sep 29.
* JAMMU & KASHMIR BANK: Board has extended the term of R.K. Chhibber as interim chairman and managing director of the bank by one month from Oct 10 to Nov 9, subject to the Reserve Bank of India's approval.
* JMC PROJECTS (INDIA): Has received an order worth 3.12 bln rupees for commercial real estate projects in southern and western India, and another order worth 2.48 bln rupees for water supply project in Odisha.
* KWALITY: A consortium of Cosmo Films, Vishal Lohia of Indorama Synthetics, and Honk Kong-based SP Growth Partners has shown fresh interest in the company that received a binding bid from Haldiram's early September.
* LUPIN: Has launched sildenafil tablets, a generic version of Pfizer Inc's Viagra, in the US in strengths of 25 mg, 50 mg, and 100 mg.
-Japan's Pharmaceutical and Medical Devices Agency has cleared unit-I and unit-II of the company's
Goa facility, following an inspection.
-Japan-based subsidiary Kyowa Pharmaceutical Industry Co has completed the sale of its injectable
business and related assets to neo ALA Co, a wholly-owned subsidiary of Abu Dhabi-based Neopharma Group.
* MANAPPURAM FINANCE: Subsidiary Manappuram Home Finance issued non-convertible debentures via public issue to raise 2 bln rupees.
* NATIONAL ALUMINIUM CO: Has cut the prices of aluminium ingots by 2% with effect from Sunday.
* NBCC (INDIA): Has signed a memorandum of understanding with the Ministry of Youth Affairs and Sports for a 4-bln-rupee project to provide management consultancy for development of National Sports University at Imphal in Manipur.
* NHPC: Is planning to raise at least 10 bln rupees through its separately transferable redeemable principal parts bonds, maturing in 10 years, and has invited bids for the same on Thursday.
* NMDC: Has urged the government to defer divestment of its under-construction steel plant at Nagarnar in Chhattisgarh as sale before commissioning will undervalue the asset.
* PNB HOUSING FINANCE: Chairman and Non-Executive Director Sunil Mehta has resigned from the board, with effect from today, on completion of his tenure as Managing Director and Chief Executive Officer of PUNJAB NATIONAL BANK.
* RELIANCE INDUSTRIES: Saudi Arabian Oil Co has reassured the company that the supply of crude oil for October will be maintained in terms of quantity and mix of grades.
* RELIANCE NIPPON LIFE ASSET MANAGEMENT: Has moved the Bombay High Court against
DEWAN HOUSING FINANCE CORP to recover about 4.78 bln rupees.
* SPICEJET: Has said it will operate JET AIRWAYS' four Boeing 737 MAXs once the regulators allow operation of these aircraft, which have been grounded due to a computer problem that led to the crash of two aircraft.
* SUNDARAM FINANCE: Has completed acquisition of 50.53 mln shares, or 49.9% stake, of its subsidiary Sundaram BNP Paribas Home Finance from BNP Paribas Personal Finance SA, for 9.99 bln rupees.
* TATA COMMUNICATIONS: Rekha Rakesh Jhunjhunwala bought 1.96 mln shares or 0.69% stake in the company at 370 rupees per share. Rekha Jhunjhunwala is the wife of prominent investor Rakesh Jhunjhunwala.
* TATA MOTORS: Starting Nov 4, the company's subsidiary Jaguar Land Rover will suspend production at all of its manufacturing plants in the UK for one week.
* ULTRATECH CEMENT: The board has declared a scheme of arrangement between the company,
CENTURY TEXTILES & INDUSTRIES, and their respective shareholders and creditors to be effective from Tuesday.
* VEDANTA: Has cut prices of aluminium ingots for the fourth time in a row.
* VODAFONE IDEA: Top executives of UK's Vodafone Group sought a two-year moratorium on payment of spectrum-related dues by the company.
* WHEELS INDIA: ICICI Prudential Mutual Fund has bought 842,600 shares or 3.5% stake in the company at 552 rupees per share.
* WOCKHARDT: CARE Ratings has downgraded the rating of company's long-term bank facilities, and proposed non-convertible debenture issue to 'BB+' from 'BBB-', and outlook to 'stable' from 'negative'.
* YES BANK: Exposure to a large housing finance and real estate group has been totally secured, and the account is standard and current.
-Chief executive Officer Ravneet Gill refuted market speculation about the capital and liquidity
position of the bank calling such talk "speculative, unsubstantiated and irresponsible".
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