Today's Stock News - 17.10.2019: 09.00 Am
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* BAJAJ CONSUMER CARE: HDFC Mutual Fund bought 5.25% stake or 7.75 mln shares in the company through the open market on Tuesday.
* BAJAJ FINANCE: To mull on Tuesday revision of external commercial borrow limit.
* BANK OF BARODA: Executive directors of the bank will carry out functions of managing director and chief executive officer till the government appoints a new head for the state-owned lender.
* BHARAT ELECTRONICS: Has signed a memorandum of understanding with Tamil Nadu Industrial Explosives for cooperation in the explosives segment, where the company is eyeing business growth.
* BHARTI AIRTEL: Ericsson said it has bagged a deal from the company to deploy its fifth generation-ready cloud packet core in the telecom operator's pan-India core network.
-Reliance Jio Infocomm has accused the company, VODAFONE IDEA and Bharat Sanchar Nigam of
'cheating' by fraudulently masquerading landline numbers as mobile numbers to unfairly earn interconnect revenue.
* CG POWER AND INDUSTRIAL SOLUTIONS: MSA Probe Consulting on Tuesday began a detailed forensic audit of the company's books of accounts from 2015-16 (Apr-Mar).
* COX & KINGS: Has defaulted on a 4.10-mln-rupee payment on non-convertible debentures which were due for payment on Tuesday.
* DEEPAK FERTILISERS & PETROCHEMICALS CORP: The securities issuance committee of the board will meet on Saturday to consider allotment of the first tranche of foreign currency convertible bonds aggregating $15 mln to International Finance Corp.
* DEWAN HOUSING FINANCE CORP: Despite most fund houses refusing to sign an inter-creditor
agreement, banks with exposure to the company are hopeful of a resolution for the beleaguered housing financier.
-Has emerged as the mysterious lender that gave loans worth 21.86 bln rupees to Sunblink Real Estate, the firm at the centre of investigations into the financial operations of late Dubai-based gangster Iqbal Memon.
* EDELWEISS FINANCIAL SERVICES: Kora Master Fund LP has received the approval of the Competition Commission of India for its proposed investments in Edelweiss Securities, a wholly-owned subsidiary of the company.
* GLENMARK PHARMACEUTICALS: The US health regulator has red flagged the company for failing to thoroughly investigate violation of manufacturing norms and implement corrective action at its Baddi plant in Himachal Pradesh.
* HAVELLS INDIA: Has introduced a new line of smart switchgear, laying added thrust on safety and security.
* HDFC BANK: Sold 0.9% stake or 103,032 shares in PUNJAB COMMUNICATIONS at 10.60 rupees per share through a bulk deal on the BSE.
* HOUSING DEVELOPMENT FINANCE CORP: Plans to raise at least 5 bln rupees through non-convertible debentures maturing in 10 years, and has invited bids for the same on Friday.
* ICICI LOMBARD GENERAL INSURANCE CO: FAL Corp, a subsidiary of Canada-based Fairfax Financial Holdings, sold its remaining 4.9% stake in the company through a bulk deal on the National Stock Exchange.
* IDBI BANK: Sold 0.5% stake or 67,159 shares in VENUS REMEDIES at 24.24 rupees a share through a bulk deal on the National Stock Exchange.
* INDIABULLS HOUSING FINANCE: Has filed First Information Report after social media rumours.
* JAIN IRRIGATION SYSTEMS: Banks are working on a debt restructuring plan for the company, which defaulted on debt obligations earlier this month, said Rajkiran Rai G., managing director and chief executive officer of UNION BANK OF INDIA. Kbc Eco Fund bought 0.7% stake or 3.3 mln shares in the company at 13.02 rupees a share through a bulk deal on the National Stock Exchange.
* JMC PROJECTS INDIA: Has raised 1 bln rupees through non-convertible debentures maturing on Oct 23, 2022 at a coupon of 10.55%.
* JUBILANT FOODWORKS: Reducing the number of licences required by companies in the restaurant sector to open outlets should be a priority for the government if it wants to see growth in the sector and increase ease of doing business in this space, the company's Chief Executive Officer Pratik Pota said.
* KARUR VYSYA BANK: In pact with Home Credit India for joint lending.
* KNR CONSTRUCTIONS: National Highways Authority of India terminated concession agreement for the company's subsidiary KNR Chidambaram Infra with effect from Apr 11.
* NATIONAL ALUMINIUM CO: Said short supply of coal from Mahanadi Coalfields had affected
operations at its smelters.
* OIL & NATURAL GAS CORP: An arbitral tribunal has awarded 540 mln rupees to PUNJ LLOYD in a dispute with the company. The award will likely help increase the attractiveness of the construction firm for financiers looking to fund litigations over its claims, in the hope of getting a slice of the recoveries.
* PNB HOUSING FINANCE: Disbursed loans worth 49.70 bln rupees in the September quarter. Of the total, retail disbursements were at 47.18 bln rupees, while corporate disbursements stood at 2.52 bln rupees.
* RELIANCE CAPITAL: Axis Trustee Services has sold 1.29 mln shares or 0.51% stake in the company at 13.19 rupees apiece through a bulk deal on the National Stock Exchange.
* RELIANCE HOME FINANCE: Said it had serviced only interest obligation, without repayment of the principal amount, for non-convertible debentures that matured on Wednesday.
* SHOPPERS STOP: Has opened a four-storey store with 50,000-sq ft area in Gurugram.
* SSPN FINANCE: ESPS Finserve bought 0.6% stake or 12,000 shares in the company at 64.50 rupees per share through a bulk deal on the BSE.
* STATE BANK OF INDIA: Insurance Australia Group will sell 26% stake in SBI General Insurance Co. Napean Opportunities LLP will acquire 16.01% stake in SBI General Insurance Co, while WP Honey Wheat Investment will acquire 9.99% stake. SBI General Insurance Co is a joint venture between the bank and Insurance Australia Group.
* TATA CONSULTANCY SERVICES: TCS iON, a strategic unit of the company inaugurated its artificial intelligence-driven command centre in Chennai on Wednesday that can monitor more than 6,000 of its unique examination venues across the country, in real time.
* TATA MOTORS: The company, which owns Jaguar Land Rover, said it is open to finding partners for the auto maker but isn't planning on selling the embattled unit.
* TRANSFORMERS AND RECTIFIERS INDIA: Has received two orders worth a combined 1.58 bln rupees for the supply of transformers.
* VODAFONE IDEA: Has completed the demerger of its fibre infrastructure into the wholly-owned unit Vodafone Towers.
* WIPRO: Is adding more small banks as clients in the US, where large lenders and financial institutions are reducing technology spending due to economic uncertainty, helping the Indian information technology firm gain market share, Chief Executive Officer Abidali Neemuchwala told.
* ZEE ENTERTAINMENT ENTERPRISE: On Wednesday said VTB Capital PLC, the investment
management arm of Russia-based VTB Group, has acquired rights to sell 10.71% stake held by Essel Media Ventures in the company.
* ZUARI AGRO CHEMICALS: Has shut operations at its nitrogen, potassium and phosphorous plant due to lack of raw material.
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