Today's Stock News - 12.09.2019: 09.00 Am
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* ADANI PORTS AND SPECIAL ECONOMIC ZONE: Adani Group has submitted a bid for the 450-blnrupee Indian Navy submarine project.
* ALKEM LABORATORIES: Has received an establishment inspection report from the US Food and Drug Administration after an inspection at its manufacturing facility at St. Louis in the US.
* ALLAHABAD BANK: Board will meet on Monday to mull merger of the bank with INDIAN BANK.
* ALLCARGO LOGISTICS: Blackstone Group Inc is in talks to invest 15 bln rupees in a venture with the company to build warehouses in India.
* ALOK INDUSTRIES: The National Company Law Appellate Tribunal has impleaded SEBI as a party in a petition filed by RELIANCE INDUSTRIES, which is seeking waiver in delisting procedure for ALOK INDUSTRIES.
* APOLLO HOSPITALS ENTERPRISE: Suneeta Reddy, promoter and managing director is selling 3.6% stake in the company today through block deals for at 7.25 bln rupees.
* ANDHRA BANK: The board will meet on Friday to consider the merger of the bank with UNION BANK OF INDIA and CORPORATION BANK.
* BANK OF BARODA: The bank has placed the corporate office building of DENA BANK on the block with a reserve price of 5.30 bln rupees.
* CANARA BANK: The bank has received 12 expressions of interest for its stake in CAN FIN HOMES from "serious investors", Chief Executive Officer R.A. Sankara Narayanan said.
* CG POWER AND INDUSTRIAL SOLUTIONS: Banks are reluctant to give working capital loans to the company as government agencies set up investigation against the company.
* COX & KINGS: Smallcap World Fund sold 4.6 mln shares or 2.6% stake in the company at 3.10 rupees apiece through a bulk deal on BSE.
* DALMIA BHARAT: Dalmia Cement (Bharat) has put in a bid to acquire the 60-bln-rupee cement business of EMAMI.
* HINDUSTAN PETROLEUM CORP: The Gujarat government has in-principle approved the 28-bln-rupee single point mooring terminal project of HPCL-Mittal Pipeline in the Gulf of Kutch.
* HOUSING DEVELOPMENT FINANCE CORP: Plans to raise at least 25 bln rupees through bonds
maturing in two years, and has invited bids on Friday.
* ICICI LOMBARD GENERAL INSURANCE CO: Red Bloom Investment has sold its entire 12.3 mln shares or 2.7% stake in the company at 1,122.27 rupees apiece through a bulk deal on the National Stock Exchange.
* IDBI BANK: Has received Life Insurance Corp of India's in-principle approval for 47.43-bln-rupee fund infusion.
* JSW STEEL: Lenders to Bhushan Power and Steel have held talks with the company, which had won the stressed steel mill bid under the insolvency code, as the acquirer is not entirely happy with the takeover terms cleared by the bankruptcy court.
* KALPATARU POWER TRANSMISSION: ICICI Prudential Mutual Fund has bought 800,000 shares or 0.5% stake in the company at 444 rupees apiece through a bulk deal on the National Stock Exchange.
* KRIDHAN INFRA: Associate company Vijay Nirman Co has bagged an order worth 1.12 bln rupees for widening of trumpet road to four lanes from two lanes from Bengaluru city to the airport and other associated infrastructure work for Bengaluru International Airport.
* LIC HOUSING FINANCE: May sell stake in IDBI Federal Life Insurance Co at a cheaper valuation.
* MCLEOD RUSSEL INDIA: The company may have to alter its debt repayment and restructuring plan after its shareholders defeated a proposal to raise borrowing and lending limits beyond legally permissible norms.
* MSTC: Has been appointed as the selling agent for Adani Group of companies to sell the latter's surplus inventory and equipment, excluding scrap.
* NLC INDIA: Has commissioned 95-MW capacity of the 109-MW solar photovoltaic power plant at
Ramanathapuram district in Tamil Nadu, awarded by Tamil Nadu Generation and Distribution Corp, with effect from Friday.
* OIL AND NATURAL GAS CORP: Will invest more than 130 bln rupees in exploring oil and gas by drilling over 220 wells across Assam in the next five years.
- Plans to buy out the rest of a western Indian petrochemical project it does not already own and launch a public offering if it fails to find a strategic partner for it, its head of finance said.
* REC: Plans to raise at least 5 bln rupees through bonds maturing in 15 years and has invited bids on Friday.
* RELIANCE CAPITAL: The non-retail portion of the company's offer for sale of shares of RELIANCE NIPPON LIFE ASSET MANAGEMENT was subscribed 1.32 times on Wednesday, with the company receiving bids for 46.01 mln shares as against 34.75 mln shares on offer.
* RELIGARE ENTERPRISES: The Securities and Exchange Board of India confirmed its earlier interim order directing the company, its subsidiary Religare Finvest, promoters, and other entities owned by the promoters to recall loans.
* SCHNEIDER ELECTRIC INFRASTRUCTURE: The company in partnership with Microsoft Corp
launched a digital platform to improve efficiency, increase profitability in the oil and gas, and petrochemical sectors in India.
* SREI INFRASTRUCTURE FINANCE: The company is facing risks from weak asset quality, declined profitability, drop in capital adequacy ratio, and higher gearing. Brickwork Rating has downgraded the rating for debentures from "AA" to "A+".
* STATE BANK OF INDIA: Executive committee of the bank's central board has approved selling 35
mln shares, constituting 3.5%, of SBI LIFE INSURANCE CO through an offer for sale.
* TALWALKARS BETTER VALUE FITNESS: Ascent India Fund III has sold 1.4 mln shares or 4.6% stake in the company at 5.7 rupees apiece through a bulk deal on the National Stock Exchange.
* TALWALKARS HEALTHCLUBS: Wallfort Financial Services has bought 500,000 shares or 1.6% stake in the company at 9.75 rupees apiece through a bulk deal on the National Stock Exchange.
* WALCHANDNAGAR INDUSTRIES: Has received an order worth 772 mln rupees plus escalation from the Vikram Sarabhai Space Centre of Indian Space Research Organisation in Thiruvananthapuram, Kerala.
* VODAFONE IDEA: Looking to selectively bundle fast home broadband services with its top-end 4G postpaid and prepaid mobility plans in priority markets, adapting global learnings from its UK-based coparent, as part of moves to scale up its unit, YOU Broadband, and take on Reliance Jio Infocomm and BHARTI AIRTEL.
* WIPRO: Azim Premji, founder of the company and his other group entities sold about 224.6 mln shares worth over 73 bln rupees during the buyback offer that closed last month.
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