Today's Stock News - 05.09.2019: 09.00 Am
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* ADANI POWER: A recent order by the Ahmedabad Bench of National Company Law Tribunal approved the resolution plan of the company for Korba West Power. The company is also an unsecured creditor to the stressed company.
* ASHOKA BUILDCON: The company and Macquarie Infrastructure and Real Assets are seeking buyers for their $2 bln roads portfolio--Ashoka Concessions.
* BAJAJ FINANCE: Has hired investment banks to help it raise up to $1 bln through a share sale.
* BANK OF BARODA: Will reduce its marginal cost of funds-based lending rates by 5 basis points across tenures, with effect from Saturday.
* BGR ENERGY SYSTEMS: The company is seeking legal advice to take steps against five awards totalling 375.7 mln rupees by the arbitral tribunal to Elecon Engineering.
* CAN FIN HOMES: Board has appointed Girish Kousgi as managing director and chief executive
officer with immediate effect.
* COFFEE DAY ENTERPRISES: Promoters of the company and its lenders have temporarily shelved a plan to sell a controlling stake in the unit that owns the Cafe Coffee Day chain.
* DATAMATICS GLOBAL SERVICES: Bangalore International Airport has selected the company to
automate and digitise more than 170 processes across the airport.
* DCB BANK: Has acquired the business of some identified customers from two branches of Abu Dhabi Commercial Bank in Mumbai and Bengaluru.
* DEWAN HOUSING FINANCE CORP: Has defaulted on 14-mln-rupee interest payment on non-convertible debentures, payable between Tuesday and Wednesday.
* FORCE MOTORS: Total production of vehicles increased nearly 5% on year to 2,371 units in
August. Domestic sales fell nearly 7% on year to 1,930 units during the month, but exports rose over threefold to 41 units.
* HAVELLS INDIA: Has launched a square-shaped pedestal fan, 'Aindrila', in Maharashtra.
* INTERGLOBE AVIATION: The Directorate General of Civil Aviation on Thursday said it has suspended two IndiGo pilots after they risked the safety of passengers by continuing to fly with tail prop attached to the aircraft.
* IVRCL: Liquidator of the company has invited expression of interest for sale of the construction company as a going concern basis.
* KARUR VYSYA BANK: Will cut its marginal cost of fund-based lending rates by 10-20 basis points across tenures, with effect from Saturday.
- The bank has signed an agreement with ICICI LOMBARD GENERAL INSURANCE CO for
marketing non-life insurance products.
* KWALITY: Has sought an extension from the Registrar of Companies for holding its annual general
meeting.
* L&T FINANCE HOLDINGS: The board of the company will meet on Wednesday to approve raising 1-blnrupee fund through cumulative compulsorily redeemable non-convertible preference shares.
* MARUTI SUZUKI INDIA: Will launch its first electric vehicle in 2020-21 (Apr-Mar), and expects its price to be at least double of a similar petrol model.
* MUTHOOT FINANCE: Will be shutting down half of its 600 branches in Kerala in a staggered manner.
* NEW DELHI TELEVISION: It has got relief from the Bombay High Court, which set aside an order passed by SEBI, and held that the news channel had furnished "sufficient grounds" for condonation of delay in filing settlement pleas with the market regulator over its show cause notice for alleged non-disclosure of a tax demand of 4.5 bln rupees in 2014.
* OIL & NATURAL GAS CORP: Iran had agreed to buy gas produced from ONGC Videsh-discovered Farzad-B field in the Persian Gulf, but talks got stalled after the US reimposed sanctions against Tehran.
* PRABHAT DAIRY: Board will meet on Tuesday to mull over de-listing the shares of the company from exchanges on the promoters' proposal to acquire 49.90% stake from public shareholders and voluntarily de-list the shares of the company.
* PUNJ LLOYD: The National Company Law Tribunal's principal bench in New Delhi has extended the initial period of corporate insolvency resolution process by 90 days over and above the 180-day period, effective Wednesday.
* RELIANCE INDUSTRIES: The company's telecom arm Reliance Jio Infocomm launched its fibre-to-thehome service JioFiber across the country.
- The company and BP are seeking buyers for natural gas from their $5-bln deep sea project in the KGD6 block at a time when rates have crashed due to global supply glut.
* SUN PHARMACEUTICAL INDUSTRIES: SEBI has ordered a forensic audit into the company's financial statements for three financial years between 2015-16 and 2017-18.
* TATA CONSULTANCY SERVICES: The company has expanded its strategic partnership with Nordic postal and logistics group Posten Norge AS to enable product innovation and enhance customer experience.
* TATA MOTORS: Continues to moderate production at its manufacturing units amid the continuing
slowdown in the sector, and is also carefully monitoring its investments for the current financial year, Chief Executive Officer and Managing Director Guenter Butschek said.
* TECH MAHINDRA: Has inked a multi-year agreement with US-based AT&T Communications to provide digital services for fifth generation telephone network.
* TRF: Completed the sale of its step-down subsidiary Hewitt Robins International Holdings and Hewitt Robins International for 3.6 mln pound sterling (around 318 mln rupees) to ENSCO.
* TVS MOTOR CO: Hopeful of demand picking up slightly in the ongoing festival season, but doesn't expect a meaningful revival before January.
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