Today's Stock News - 18.09.2019: 09.00 Am
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* AHLUWALIA CONTRACTS: Received an order worth 4.07 bln rupees for construction of a medical
college in Mohindergarh, Haryana, and other orders worth 903.6 mln rupees.
* BAJAJ FINANCE: The board of the company has approved raising up to 85 bln rupees through qualified institutional placement of shares or other securities.
* BALMER LAWRIE & CO: The board has deferred the decision on issue of bonus shares.
* CG POWER AND INDUSTRIAL SOLUTIONS: The Securities and Exchange Board of India has barred former chairman Gautam Thapar and other executives from accessing the securities market in light of their alleged involvement in siphoning off money from the company.
-The management of the company is said to be on a possible collision course with lenders involving the likely repudiation of loans given to subsidiaries without the authorisation of company directors.
* COAL INDIA: Is planning to hire 9,000 people, 4,000 of them in executive cadre, to fill up vacancies.
* COFFEE DAY ENTERPRISES: US-based private equity fund Blackstone, along with South-India based Salarpuria Sattva Group, has signed a definitive agreement to purchase the Global Village TechPark of the company's subsidiary Tanglin Development at an enterprise value of 27 bln rupees.
* COX & KINGS: Vanguard Energy Fund sold 1.5 mln shares or 0.85% stake in the company at 4.40 rupees apiece through a bulk deal on the National Stock Exchange.
* COX & KINGS FINANCIAL SERVICE: The Royal Bank of Scotland Plc as Trustee of Jupiter India Fund has sold 958,771 shares or 1.3% stake in the company at 0.64 rupee apiece through a bulk deal on the BSE.
* DCM: Will transfer its information technology business to wholly-owned subsidiary DCM Infotech for 80 mln rupees.
* GHCL: The company will raise 250 mln rupees through the issue of commercial papers maturing on Dec 17, at a coupon rate of 7.90% a year.
* HINDUSTAN MEDIA VENTURES: Formed a limited liability partnership entity, HT Content Studio LLP, and has signed an agreement for the same with Shamit Bhartia, who will be a partner in the latter.
* ICICI PRUDENTIAL LIFE INSURANCE CO: The company sold 3.4 mln shares of SADBHAV
ENGINEERING, representing a 2% stake, on Monday.
* INDIAN OVERSEAS BANK: Will link the interest rates on its housing, vehicle, education, and micro and small enterprises loans to the repo rate from Oct 1.
* INFOSYS: US-based database software company MongoDB is banking on IT services providers such as the company, WIPRO, TATA CONSULTANCY SERVICES and Accenture to drive growth as they have relationships with clients that are shedding legacy technology and investing in software built for the Internet.
* JET AIRWAYS (INDIA): Synergy Group founder German Efromovich met lenders to the airline in Mumbai in the last two days as part of the South American company's initial due diligence process to buy a significant stake in the grounded Indian airline.
* JK PAPER: Is working towards increasing its paper production capacity from 450,000 tn per annum to 800,000 tn per annum by next year, with an outlay of about 21 bln rupees.
* JSW STEEL: Has informed the National Company Law Appellate Tribunal that it would be impossible for it to implement the resolution plan for Bhushan Power and Steel if it has to share profits earned by the insolvent firm during the resolution period with creditors.
* Has cut its capital expenditure plans in the US by 60% to $400 mln due to weak demand and a slowing economy.
* LIC HOUSING FINANCE: Plans to raise 10 bln rupees through bonds maturing in one-year and 11-months, and has invited bids on Thursday.
* MAHINDRA & MAHINDRA: Is setting up assembly plants around the world with an eye on being 'local in the overseas market.' It is planning to add a plant in North Africa, South East Asia and is exploring a possibility of setting up a base in East Africa and Central America.
* MARUTI SUZUKI INDIA: Suzuki Motor Corp has asked the company to cut down discretionary expenses and plug in resource wastage at its plants in Gurgaon and Manesar to keep costs in control.
* MMTC: Commerce and industry minister Piyush Goyal said all options are open for closure or merger of the company, STATE TRADING CORP OF INDIA and Project and Equipment Corp.
* NCC: Aditya Birla Sun Life Mutual Fund bought 12.94 mln shares or 2.15% stake in the company through the open market on Friday.
* NITESH ESTATES: Has entered into a joint development agreement with realtor Garden City for three of its upscale residential assets in Bengaluru, under which the projects' debt of 2 bln rupees will be taken over by Garden City.
* OIL & NATURAL GAS CORP: The Pollution Control Board, Assam has slapped a fine of 20.5 mln rupees on the company for allegedly violating an order by the Supreme Court and causing pollution to the environment.
* POWER FINANCE CORP: Is looking for new sectors to fund as it wants to hedge the risks associated with lending to the nation's ailing utilities.
* RELIANCE COMMUNICATIONS: Is set to approach the appellate tribunal in a bid to get Swedish telecom equipment maker Ericsson to refund 5.77 bln rupees paid.
* RELIANCE INDUSTRIES: Reliance Services and Holdings, controlled by Petroleum Trust, a part of the promoter group, acquired 171.88 mln shares in the company, representing 2.7% stake, on Friday.
-Reliance Jio Infocomm has become the new leader in the voice minutes market, with a 36% share,
pulling ahead of BHARTI AIRTEL with 33.5% and VODAFONE IDEA with 30.7%.
-Reliance Retail is planning to roll out an e-commerce portal for luxury products that will host
international labels such as Zegna, Ferragamo, Armani and Jimmy Choo among other top of the line brands.
* SINTEX INDUSTRIES: Lenders are talking to three potential bidders for the company in a last ditch effort to recover their dues totalling 65 bln rupees after efforts at other recoveries were fruitless.
* SREI INFRASTRUCTURE FINANCE: Srei has approached Securities and Exchange Board of India and Reserve Bank of India, seeking approvals for on tap buy back of its non-convertible debentures from retail investors for "preventing interested parties from gaming the system at the expense of investors".
* STEEL AUTHORITY OF INDIA: Has cut the prices of its galvanised corrugated sheets and steel bars by up to 7% for September.
-In a bid to address the shortfall in domestic iron ore supply, the Centre has allowed the company to
offload up to 25% iron ore produced at its captive mines in the previous year after taking clearance from governments of states where the mines are located.
* SUNTECK REALTY: Entered into an agreement with Transcon Enterprises to jointly develop residential, commercial, or retail projects in Mumbai's western suburb of Andheri.
* VEDANTA: Has cut the prices of aluminium ingots after raising them three times in a row.
* VIDEOCON INDUSTRIES: The Central Board of Indirect Taxes and Customs approached the National Company Law Tribunal on Tuesday, to register a claim of 46 mln rupees as central GST dues from the Videocon group.
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