Today's Stock News - 09.09.2019: 09.00 Am
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* AUROBINDO PHARMA: The US arm of the company is recalling 2,352 bottles of lipid-lowering
Simvastatin tablets from the American market.
* BANK OF INDIA: Will introduce Unified Payments Interface quick response code-based cash withdrawal services at its automated teller machines in Mumbai, Chennai and Delhi.
* CANARA BANK: Has invited bids to sell its entire 29.99% stake in subsidiary CAN FIN HOMES.
* CG POWER AND INDUSTRIAL SOLUTIONS: Gautam Thapar, who was ousted as company chairman, has sent a legal notice to the board contesting his removal, which he said was illegal.
* COFFEE DAY ENTERPRISES: Has appointed IDFC Securities as adviser to refinance its debt and for divestment of stake in Coffee Day Global and any other group companies to reduce its debt.
-The company has put its Sical Logistics unit on the block to pare debt.
* DEWAN HOUSING FINANCE CORP: Defaulted on 202.4-mln-rupee interest payment on non-convertible debentures, payable on Friday. The company's lenders are considering 70 bln rupees in emergency funding to the debt-laden financier even as creditors decide on the formula for conversion of debt into equity, which is a key part of the proposed restructuring plan.
* ESCORTS: Has unveiled a range of concept vehicles, including a hybrid tractor, a hybrid backhoe loader, and a multi-utility rural transport vehicle "Rider".
* EQUITAS HOLDINGS: The Reserve Bank of India on Friday refused to extend the listing deadline for Equitas Small Finance Bank, and barred it from opening new branches till further orders.
-Has proposed to capitalise the free reserves and issue shares of the subsidiary Equitas Small Finance Bank to its shareholders without cash consideration. This came after the Reserve Bank of India denied an extension to the listing deadline of Equitas Small Finance Bank.
* EVEREADY INDUSTRIES: Duracell Inc is set to acquire the company's battery and flashlight business in a slump sale for 16-17 bln rupees.
* GAIL INDIA: Canada's Brookfield Asset Management and Singapore's Temasek Holdings have joined the race to buy the gas pipeline assets of the company.
* GVK POWER & INFRASTRUCTURE: Airports Authority of India is said to be planning a surprise bid for the stake held by two overseas investors in Mumbai International Airport. The stakes are held by South African companies Bidvest and Airports Co South Africa, which are seeking to exit the company.
* HINDALCO INDUSTRIES: Raised prices of aluminium ingots, wire rods and billets by more than 1% with effect from Thursday.
* ICICI BANK: The National Company Law Appellate Tribunal has dismissed a plea challenging NCLT's order to initiate insolvency proceedings against Aditya Estates over the claims filed by ICICI Bank UK PLC.
* IDBI BANK: Will see churn at the top with three senior executives leaving the private sector lender on conclusion of their term and retirement.
* IL&FS ENGINEERING AND CONSTRUCTION CO: Has deferred announcement of its Apr-Jun results.
* INDIABULLS REAL ESTATE: The company or any of its subsidiaries have not yet entered any definitive agreement for divestment of stake in commercial and leasing business assets to any third party investors or private equity player.
* INDIAN OIL CORP: The government has ordered the company, BHARAT PETROLEUM CORP and HINDUSTAN PETROLEUM CORP to cancel a 50-bln-rupee tender for the purchase of cooking gas cylinders following detection of several discrepancies in the buying process.
* INTERGLOBE AVIATION: Vistara and the company-led IndiGo are vying for the flying rights of grounded JET AIRWAYS for the lucrative London route.
* KARUR VYSYA BANK: Saif India IV FII Holdings sold 11.1 mln shares or 1.39% stake in the bank at 57.01 rupees a share through a bulk deal on the National Stock Exchange.
* KWALITY: Adjudicating authority has granted a 60-day extension for the company's corporate insolvency resolution process expiring on Nov 6.
* MAHANAGAR TELEPHONE NIGAM: Has approached the government with about 8 bln rupees worth of claims, including rent-related dues and reimbursement for a bond issue dating back several years.
* MANDHANA INDUSTRIES: Differences between subsidiary Mandhana Retail Ventures and its biggest client Salman Khan Foundation have made it difficult for the company to renew its 10-year licence. This has weighed on the company's ability to raise bank credit in the past one year, leading to loss of both cash and talent.
* MARUTI SUZUKI INDIA: Will soon start leasing nearly 100 outlets for showrooms and workshops to its principal dealers, based on a lottery system.
* MULTI COMMODITY EXCHANGE OF INDIA: The company's derivatives turnover on Friday topped 500 bln rupees for the first time in over six years. Turnover in derivatives of silver and crude oil was also at the highest level since Jul 1, when commodities transaction tax was levied.
* NACL INDUSTRIES: Dovetail India Fund Class 11 Shares bought 1.37 mln shares or 0.82% stake in the company at 26.28 rupees per share through a bulk deal on NSE.
* NBCC INDIA: Received business of 4 bln rupees in August from Indian Institute of Management,
Sambalpur.
* PUNJAB NATIONAL BANK: Has put up for sale nearly a dozen non-performing assets to recover dues of over 12.34 bln rupees.
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio will bundle over-the-top platforms such as Eros Now, Alt Balaji, Sony Liv, Hotstar and Voot along with its broadband packages to woo customers.
-Seeking a minimum price of $5.4 per unit for the natural gas it plans to produce from newer fields in
the Bay of Bengal block KG-D6 as it changed parameters to suit government policies.
* RUCHI SOYA INDUSTRIES: Patanjali Ayurved, which got the National Company Law Tribunal's
approval to acquire the company in an insolvency process, will infuse over 34.38 bln rupees as equity and debt to settle dues of creditors of the debt-laden firm.
* SHILPA MEDICARE: The US Food and Drug Administration has issued two observations to the company's finished dosage formulation facility at Jadcherla in Telangana.
* SHRIRAM CITY UNION FINANCE: Kunal Karnani resigned as chief financial officer of the company on Friday.
* SOMANY CERAMICS: Has filed a criminal complaint against its stock broker Mentor Financial Services Pvt Ltd and its directors for non-payment of 261.83 mln rupees.
* STATE BANK OF INDIA: Set to sell 6.6% stake in SBI Life that would boost its capital position as well as help its insurance unit to comply with the minimum public float requirement of 25%.
-The bank sought issuance of 147 look-out circulars in five months in connection with bank fraud
cases.
* SUZLON ENERGY: Bankers of the company are working on a plan to recover dues that may include a significant haircut on loans as the company does not have any active interest from potential buyers.
* VARUN BEVERAGES: Has approved the issue price for qualified institutional placement at 612 rupees per share.
-Raised 9 bln rupees through qualified institutional placement.
* VEDANTA: Has raised the prices of aluminium ingots by more than 1% with effect from Thursday.
* VIDEOCON INDUSTRIES: The National Company Law Tribunal has restrained State Bank of India from selling overseas assets of Videocon group.
* ZEE ENTERTAINMENT ENTERPRISES: Essel Group has repaid more than half the debt I owes to mutual funds and non-banking finance companies.
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