Today's Stock News - 24.09.2019: 09.00 Am
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* APOLLO HOSPITALS ENTERPRISE: The competition commission said it has approved the restructuring of the company's pharmacy business and its subsequent acquisition by certain investors.
* APOLLO PIPES: Canara HSBC Oriental Bank of Commerce Life Insurance Co sold 140,000 shares or 1.07% stake in the company at 375 rupees per share through a bulk deal on the BSE.
* AUROBINDO PHARMA: The Securities and Exchange Board of India on Monday slapped a 223-mlnrupee fine on the company and its promoters in a decade-old case of violating the regulator's insider-trading regulations.
* BHARAT HEAVY ELECTRICALS: Has commissioned five pumping units of the 973-MW Kaleshwaram lift irrigation project in Telangana.
* BHARTI AIRTEL: Has accused Reliance Jio Infocomm of gaming the incoming and outgoing calling pattern to shift the interconnect usage charge system to its advantage.
* CG POWER AND INDUSTRIAL SOLUTIONS: Has received an extension of two months and 15 days from the Registrar of Companies to hold its annual general meeting.
* ESCORTS: BlackRock Inc has sold a small portion of its holding in the company for about 7 bln rupees.
* HEXA TRADEX: Valiant Mauritius Partners Offshore has sold 1.1% stake or 597,898 shares in the
company at 5.55 rupees apiece through a bulk deal on the National Stock Exchange.
* HOUSING DEVELOPMENT FINANCE CORP: Is set to buy out the co-promoters of student loan company Credila as it looks to grow quickly and prepare it for listing in a couple of years.
* INFOSYS: Wholly-owned subsidiary EdgeVerve Systems, in partnership with enterprise blockchain
software company R3, has completed a global blockchain trial with 18 banking groups.
* MAHINDRA & MAHINDRA: Has introduced automated manual transmission on the diesel variant of its sport utility vehicle XUV3OO W6.
* MANAPPURAM FINANCE: Board has approved raising up to 4.65 bln rupees through non-convertible debentures.
* MARUTI SUZUKI INDIA: Expects sales of its cars in September to be higher than the previous month, Chairman R.C. Bhargava told.
* MCLEOD RUSSEL INDIA: Providing some relief to the company, the Kolkata bench of the National Company Law Tribunal has modified its interim order of "status quo" on the assets of the bulk tea producer.
* PETRONET LNG: Board had just six months ago disfavoured a $2.5-bln deal to buy 18% stake in US-based Tellurian Inc's proposed Driftwood liquefied natural gas terminal, and import 5 mln tn liquefied natural gas a year from it for 40 years as the gas was available in plenty and no longer required equity investments.
* RATTANINDIA POWER: Board will meet on Thursday to mull various debt reduction measures.
* REC: Plans to raise at least 18 bln rupees through two bonds--one maturing in 10 years and the other in four years--and has invited bids on Wednesday.
* RELIANCE INDUSTRIES: The company, which aims to become debt free by March 2021, may start
spending heavily again to upgrade its chemicals business once it repays its 1.54 trln rupees of outstanding debt.
* SPICEJET: Cargo arm SpiceXpress has taken the lease-delivery of its first plane, a 737-800 Boeing
Converted Freighter.
* STAR CEMENT: Is going ahead with the proposed offer to buy back shares, after the government said there will be no tax for companies on buybacks that were announced before Jul 5.
* STEEL AUTHORITY OF INDIA: Is looking at various means to lower its overall tax incidence by hiving in-house manufacturing and project expansions into separate companies.
* TATA CONSULTANCY SERVICES: Has launched its real-time payments solution, as part of TCS BaNCS for payments, in multiple markets.
-Will need a few more large deals to deliver double-digit growth rates in the ongoing fiscal year,
analysts said, despite a recent $600-mln deal with GM and others with NXP Semiconductors and Cisco.
* TATA GLOBAL BEVERAGES: Paradice Global Small Mid Cap Fund sold 4.67 mln shares or 0.74% stake in the company at 273.14 rupees a share through a bulk deal on the National Stock Exchange.
* TATA POWER CO: Like some of its global peers such as US-based Duke Energy or Italian multinational Enel, the company is looking to morph from a pure-play utility into a customer-focused business.
* THOMAS COOK (INDIA): Responding to a media report that the corporate affairs ministry is probing the company in relation to a "suspicious" money transaction with Delhi-based Aarush Forex, the company said it has not received any intimation from the ministry.
* VEDANTA: Has cut the prices of aluminium ingots for the second time in a row.
* VODAFONE IDEA: Stands to gain the most if the deadline for scrapping inter-connect usage charges by Telecom Regulatory Authority of India is extended. The company gets about 30% of its overall operating income from inter-connect usage charges.
* WIPRO: Has launched the first phase of Noomis, an online platform for the financial services industry, in Brazil to collaborate and exchange information on technological innovation.
* ZEE ENTERTAINMENT ENTERPRISES: Catalyst Trusteeship sold shares of the company worth 2.04 bln rupees, possibly to recover loans given to the company's promoters in lieu of shares held as collateral.
* ZENSAR TECHNOLOGIES: Has opened a new office in Century City, Cape Town, to expand its
operations in South Africa.
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