Today's Stock News - 27.09.2019: 09.00 Am
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* ASHOK LEYLAND: Has decided to declare Sep 28 and Sep 30, Oct 1, Oct 8 and Oct 9 as non-working days.
* BANK OF BARODA: Estimates that it will save 95 bln rupees through cost rationalisation, sale of
overlapping assets and revenue synergies with the merged DENA BANK and VIJAYA BANK in the next five years.
* BHARTI AIRTEL: When it comes to 5G trials at the upcoming India Mobile Congress, the company is likely to use cases around the latest technology during the Oct 14-16 event.
* EVEREADY INDUSTRIES INDIA: Is looking to raise nearly 2.5-3 bln rupees from sale of non-core assets, primarily land and other real estate, as it looks to reduce debt and de-leverage its balance sheet.
* GE T&D INDIA: Board has appointed Sushil Kumar as chief financial officer of the company, effective Tuesday.
* GMR INFRASTRUCTURE: Has tied up with low-fare carrier Thai AirAsia as part of a consortium to bid for the $2 bln expansion project of the U-Tapao airport in Thailand, one of the cornerstones in the country's plan to become an important trade hub.
* GODREJ AGROVET: Palm oil production in India is estimated to increase 7% on year in 2019-20 (Apr- Mar) to 300,000 tn, due to a rise in acreage under the crop over the past years, Godrej Agrovet's Chief Executive Officer – Oil Palm Plantation Nasim Ali said.
* GOODYEAR INDIA: The company has decided to shut down the manufacturing operations of its plant at Ballabgarh in Haryana, from Friday till Wednesday.
* GREENPLY INDUSTRIES: SBI Mutual Fund, through its various schemes, sold 1.33 mln shares of the company, representing 1.1% stake, in the open market on Wednesday.
* HEXA TRADEX: Valiant Mauritius Partners Offshore sold 0.8% stake or 434,284 shares in the company at 4.80 rupees apiece in a bulk deal on the National Stock Exchange.
* ICICI LOMBARD GENERAL INSURANCE: FAL Corp sold 4.9% stake or 22.67 mln shares of the company at 1,129.68 rupees per share on BSE.
* INDIABULLS HOUSING FINANCE: SBI Mutual Fund A/C – SBI ETF Nifty- Scheme 483 sold 0.98% stake or 4.19 mln shares in the company through bulk deals on the National Stock Exchange.
* ITI: The company has entered into the business of offering cloud solutions in collaboration with
Connectivity IT Solutions.
* KPIT TECHNOLOGIES: The company's Singapore-based subsidiary KPIT Technologies, and GETS Global Berhad have entered into a pact to set up an e-mobility joint venture--GETS E-Mobility Solutions Sdn Bhd.
* LAKSHMI VILAS BANK: The Economic Offences Wing of the Delhi Police has filed a first information report against the bank on a complaint by Religare Finvest alleging "cheating, criminal breach of trust..., criminal misappropriation and criminal conspiracy".
* MINDA CORP: Laxman Ramnarayan has been appointed as chief financial officer from Thursday following the resignation of Sanjay Aneja.
* PUNJAB NATIONAL BANK: The board of directors of the bank approved raising up to 30 bln rupees through additional tier-III complaint bonds, in one or more tranches.
* RELIANCE INDUSTRIES: Reliance Jio Infocomm has increased to 25 seconds the ring duration for outgoing calls from its network. But BHARTI AIRTEL and VODAFONE IDEA are not pleased with this five second increase, and are sticking to their demand for a minimum 30-second ring duration.
* SICAL LOGISTICS: ALLCARGO LOGISTICS and TVS Supply Chain Solutions are in initial discussions to acquire the supply chain business of the company.
* SHRIRAM CITY UNION FINANCE: Gauri Shankar Agarwal has been appointed chief financial officer of the company's subsidiary Shriram Housing Finance, effective Wednesday.
* SOMANY CERAMICS: Following the merger of Bhilwara Holdings, Sarvottam Vanijya and Scope Vinimoy with the company, the board will meet on Tuesday to discuss the record date for allotment of shares.
* STERLING AND WILSON SOLAR: The company has dissolved its wholly-owned subsidiary Sterling and Wilson Brasil Servicos, incorporated under the municipality of Sao Paulo.
* TATA COMMUNICATIONS: The company has spun off NetFoundry, a software developed as part of the company's innovation and entrepreneurship programme, into an independent subsidiary within
the Tata Communications Group.
* TATA MOTORS: Owned Jaguar Land Rover will bring in half a dozen electrified vehicles to India starting 2020 as the Indian government pushes towards cleaner mobility solutions in the country with pollution on the rise.
* TATA POWER CO: Tata Power Solar Systems, a wholly-owned subsidiary of the company, has received a letter of award to develop a floating solar project on a reservoir with a peak capacity of 150 MW.
* TECH MAHINDRA: Has announced a collaboration with enterprise technology company Keysight to help mobile operators deploy new 5G devices.
* VEDANTA: Sought approval from the Tamil Nadu government to repair its copper smelter as the plant is "crumbling" after being ordered to remain shut for more than a year.
* WESTLIFE DEVELOPMENT: McDonald's restaurants are offering more than 30 combo meals at 59 rupees, a move aimed at building the company's McSavers value platform.
* YES BANK: Promoter YES Capital sold 1.8% stake in the bank through a bulk deal, bringing down its stake from 3.26% as at the end of June.
* ZEE ENTERTAINMENT ENTERPRISES: Kotak Mahindra Mutual Fund said that it has received all the dues, incurred in six fixed maturity plans, from the Essel Group.
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