Today's Stock News - 26.09.2019: 09.00 Am
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* ADANI GAS: Board has appointed Parag Parikh as chief financial officer, effective Wednesday.
* ALLCARGO LOGISTICS: Is in the final rounds of discussions to pick up a controlling stake in GATI.
* APOLLO HOSPITALS ENTERPRISE: Will join the Ayushman Bharat programme in tier-II and tier-III cities.
* ASTRAZENECA PHARMA INDIA: Has received the Drugs Controller General of India's approval to import and market film-coated tablets of fixed-dose combination of Dapagliflozin in 10-mg strength and Saxagliptin in 5-mg strength.
* AXIS BANK: Sets issue price at 629 rupees per share for qualified institutional placement of shares worth 125 bln rupees.
* BHARTI AIRTEL: Reliance Jio Infocomm has rejected the company's allegation about the Mukesh
Ambani-owned telcom company's fourth generation network cost being low due to its different accounting practices, saying the two issues are not connected and that the cost differential is because of the technology the latest telecom entrant has deployed.
* CENTRAL BANK OF INDIA: Plans to raise 5 bln rupees through tier-II bonds maturing in 10 years and two months, and has invited bids on Friday.
* CG POWER AND INDUSTRIAL SOLUTIONS: The board has appointed Ashish Kumar Guha as the chairman of the company with immediate effect.
* CIPLA: Has launched daptomycin injection, a generic of Cubicin injection, in the US.
* COAL INDIA: A day-long strike by workers of the company led to a production loss of about 57% on Tuesday.
* DEWAN HOUSING FINANCE CORP: A final resolution plan for the company is expected to be ready by next week and will be circulated among bankers for approval.
* GLAXOSMITHKLINE PHARMACEUTICALS: Will initiate a voluntary recall of Zinetac tablets of 150 mg and 300 mg strength made in India using active pharmaceutical ingredient sourced from Saraca Laboratories, as it has been contacted by regulatory authorities regarding the detection of genotoxic nitrosamine NDMA in the ranitidine products.
* HAVELLS INDIA: Will sell electric circuit breakers at a discount through Tata Power Delhi Distribution.
* HDFC BANK: Is in the list of 75 most valued brands in India, keeping its position intact from the previous year. Life Insurance Corp of India and TATA CONSULTANCY SERVICES retained their second and third ranks in the list of most valued Indian brands.
* HERO MOTOCORP: Is eyeing sales growth of 10% in the upcoming festival season even as the industry continues to battle an inventory overhang and sluggish credit flow.
* HINDUSTAN UNILEVER: Is now sending its distributors to IIM Ahmedabad to improve their business skills in the rapidly-changing business environment.
* INFOSYS: US-based subsidiary Infosys McCamish has launched a cloud platform for the global life insurance and annuity industry.
* JET AIRWAYS (INDIA): The National Company Law Tribunal has given 15 days to the financial creditors of the airline to release interim funds and expedite the funding process for the debt-ridden airlines to carry on the corporate insolvency resolution process.
* KIOCL: Board meeting on Friday to mull reinstating financial statements of the company for the financial years ended Mar 31, 2017, Mar 31, 2018, and Mar 31, 2019, has been cancelled due to unavoidable reason.
* MAHINDRA & MAHINDRA: Ford Motor Co is set to transfer most of its assets in India to a joint venture with the company after failing to make meaningful inroads for more than two decades in the world's fourthlargest automobile market.
* NATIONAL ALUMINIUM CO: Has cut the prices of aluminium ingots for the second time in a row.
* NTPC: Signed a memorandum of understanding with the Himachal Pradesh government to set up two hydropower projects in the state with a cumulative capacity of 520 MW, which would require an estimated investment of about 53 bln rupees.
* RASHTRIYA CHEMICALS & FERTILIZERS: Talcher Fertiliser, the joint venture of the company, COAL INDIA, GAIL INDIA, and Fertiliser Corp of India, plans to raise around 91 bln rupees as debt for revival of Talcher Fertiliser plant in Odisha.
* SONATA SOFTWARE: HDFC Mutual Fund has bought 2.1% stake or 2.2 mln shares in the company in open market on Tuesday.
* SRF: The Supreme Court has dismissed special leave petition filed by the company against the order of the Madhya Pradesh High Court's Gwalior bench, thus, reviving the 237.3-mln-rupee stamp duty along with a penalty of 50.9 mln rupees on the deed of conveyance executed on Jun 13, 1996, for acquisition of a division from CEAT Ltd.
* SPICEJET: Is weighing an order for at least 100 Airbus SE planes as Boeing Co grapples with the fallout over its grounded 737 Max.
* STATE BANK OF INDIA: On Wednesday, the company came out with its new repo-linked home loan scheme. It will charge a 265-basis-point spread over the Reserve Bank of India's repo rate on new home loans from Oct 1.
* STERLITE TECHNOLOGIES: Wholly-owned subsidiary Sterlite Global Venture (Mauritius) will, in two tranches, acquire 100% stake in the UK-based Impact Data Solutions Group for 12 mln pound sterling (around 1.1 bln rupees).
* SUBEX: VIVA Kuwait has renewed its contract with the company to provide revenue assurance and fraud management solutions on a managed services mode by three more years.
* UNION BANK OF INDIA: Inter-creditor agreement has been executed by most lenders of GAMMON INDIA, except the bank.
* VARUN BEVERAGES: Promoter RJ Corp has sold 1.4% stake or 2.7 mln shares in the company at 630.01 rupees apiece through a bulk deal on the BSE.
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