Today's Stock News - 11.10.2019: 09.00 Am
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* ABAN OFFSHORE: Has received a letter of award from OIL AND NATURAL GAS CORP for deployment of jack-up rig 'ABAN II' for a period of three years.
* ARSS INFRASTRUCTURE PROJECTS: The company's joint venture ARSS-SCPL has bagged an order of 2.2 bln rupees from Rail Vikas Nigam to construct a railway line connecting Mau and Shahganj in Uttar Pradesh.
* ARVIND SMARTSPACES: Has entered into a strategic partnership with HDFC Capital Affordable Real Estate Fund-1, which is managed by HOUSING DEVELOPMENT FINANCE CORP's wholly-owned subsidiary HDFC Capital Advisors, to develop affordable and mid-income housing projects.
* BIOCON: Subsidiary Biocon Biologics has entered into a deal to develop and commercialise a biosimilar asset of Just - Evotec Biologics, a German drugmaker.
* DEWAN HOUSING FINANCE CORP: The Bombay High Court on Thursday said the restraint on the company for payments to third parties will continue until further orders.
* DISH TV INDIA: Data from the Telecom Regulatory Authority of India shows Tata Sky has taken the lead over Dish TV in the direct-to-home segment for the June quarter.
* EDELWEISS FINANCIAL SERVICES: Is committed to its credit cost guidance of around 8 bln rupees for 2019-20(Apr-Mar).
* EVEREADY INDUSTRIES INDIA: Has completed the sale of its land in Chennai for a consideration of 1 bln rupees.
* GOA CARBON: Will resume production at its unit in Paradeep, Odisha, from today following completion of maintenance work.
* GODREJ AGROVET: Has acquired additional 11% stake in its subsidiary Godrej Maxximilk.
* HOUSING DEVELOPMENT & INFRASTRUCTURE: A complex web of firms, including ones based overseas, linked to the company and their promoters Rakesh Wadhawan and Sarang Wadhawan, with little or no revenue, borrowed money from PMC Bank.
* INDIABULLS HOUSING FINANCE: The Reserve Bank of India's rejection of the merger proposal of the company and LAKSHMI VILAS BANK might not have surprised many and the sharp selling in the shares of both entities reflects the worries over their solvency.
-Norges Bank has sold 0.75% stake or 3.2 mln shares in the company at 203.31 rupees apiece on the
National Stock Exchange.
* INDIABULLS REAL ESTATE: The Embassy Group is reconsidering its plan to buy a majority stake in the company, "We are not looking at either increasing the stake or even exiting the investment already made," Jitu Virwani, chairman.
-Indiabulls Group may rework its plan to exit the real estate business, sources said, even as it plans to
turn the company debt-free and work out its ownership pattern.
* INDIAN OIL CORP: State-run oil marketing companies like the company, BHARAT PETROLEUM CORP and HINDUSTAN PETROLEUM CORP have told Air India that they would be forced to suspend jet fuel supplies to the national carrier if it does not clear pending fuel bills within a week.
* INDIAN OVERSEAS BANK: Will cut the interest rates on its housing, vehicle, education and micro and small enterprises loans by 25 basis points to 8% effective Nov 1.
* INDOCO REMEDIES: DSP AIF Pharma Fund has sold its entire 1.28 mln shares or about 1.39% stake in the company at 140 rupees apiece through a bulk deal on BSE.
* INTERGLOBE AVIATION: Airbus on Thursday delivered its 1,000th A320 Neo family aircraft, an
A321neo, to IndiGo.
-The company will lease eight Airbus A321neo planes from Ireland-based CDB Aviation by January to bolster its overseas expansion plans.
* KWALITY: Delhi-based Haldiram group has emerged as the sole bidder for acquiring the company with an offer of around 1.3 bln rupees in the ongoing insolvency process.
* LAKSHMI VILAS BANK: After the uncertainty over the amalgamation of the bank and INDIABULLS HOUSING FINANCE ended on Wednesday with the Reserve Bank of India rejecting the proposal, the bank said it will continue to work towards raising capital.
* LARSEN & TOUBRO INFOTECH: Discriminates against people who aren't South Asian when hiring workers at its US facilities, according to a law suit filed by two former employees.
* MUTHOOT FINANCE: Proposes to raise $2 bln from foreign markets to fund its business growth.
* POWER FINANCE CORP: Is planning to raise at least 5 bln rupees through bonds maturing in three years, and has invited bids for the same on Monday.
* POWER GRID CORP OF INDIA: Plans to set up an Infrastructure Investment Trust by the end of FY20 to unlock value in some of its transmission assets.
* RELIANCE INDUSTRIES: Reliance Jio Infocomm's decision to pass on interconnect usage charges to its users is likely to be followed by tariff hikes by other telecom operators.
-Reliance Jio Infocomm is yet to file its new tariff plan of levying interconnect usage charges on voice calls to non-Jio mobile numbers, Telecom Regulatory Authority of India Secretary Sunil Gupta said, adding that the regulator would intervene only in the event of any compliance issues.
-Has put off bidding for the new gas it plans to produce from eastern offshore KG-D6 block to Nov 6
following a request from potential bidders.
* SMS LIFESCIENCES INDIA: Sees a temporary slowdown in sales of Ranitidine products as it awaits regulatory guidance for limits of N-nitrosodimethylamine in the drug.
* SOUTH INDIAN BANK: Rating agency CARE has revised its issuer rating outlook on the bank's long-term debt to negative from stable.
* SPICEJET: Has not discovered any structural crack on its older Boeing Co. 737 NG (next generation) fleet after conducting inspections on the planes on the directive of the directorate general of civil aviation.
* STATE BANK OF INDIA: Will start charging processing fees for home loan borrowers, top-up plans, and loans to corporates and builders.
* SUZLON ENERGY: Has found a new suitor even as a rescue plan of Canada's Brookfield Asset
Management Inc. faltered, said Tulsi Tanti, the founder and chairman of the company said.
* TATA STEEL: Tata Steel India's sales fell 4.2% on year to 4.14 mln tn in the quarter ended September, while production rose 4.6% to 4.5 mln tn.
* TATA STEEL BSL: The company's Jul-Sep steel provisional sales rose 21% on quarter and fell 8.5% on year to 1.04 mln tn.
* VAKRANGEE: Has partnered Aadhar Housing Finance for distribution of home loans and loan against property through Nextgen Vakrangee Kendras.
* VODAFONE IDEA: Would require fresh round of equity infusion from its promoters by 2020-21, as its cash, including proceeds from the Indus stake sale, would last only for the next 15 months.
* WELSPUN INDIA: Is looking to be debt-free over the next five years.
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