Today's Stock News - 25.10.2019: 09.00 Am
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* ADITYA BIRLA CAPITAL: The Competition Commission of India has approved the acquisition of 4.15% stake in the company by Jomei Investments.
* AU SMALL FINANCE BANK: Ourea Holdings sold 1.1% stake, or 3.2 mln shares, in the bank through a bulk deal on BSE at 675.04 rupees per share.
* APOLLO TRICOAT TUBES: Promoter Saket Agarwal sold 1% stake or 300,000 shares in the company at 280.34 rupees a share through a bulk deal on BSE.
* BANDHAN BANK: The board has approved increasing the cap on total shareholding of foreign portfolio, institutional investors in the bank to 49% from 24%.
* BHARTI INFRATEL: Extended long stop date for merger with Indus Towers. Long stop date for Indus Towers deal is now set at Dec 24.
* BIOCON: Plans to sell insulin in low- and middle-income countries at a fraction of the current prices to achieve the $1-bln annual sales target for its biologics business by 2021-22.
* BOSCH: Andreas Wolf, joint managing director, has resigned from the board of directors, effective Dec 31. * CANARA BANK: Has set issue price at 237.23 rupees per share for preferential issue of shares to government.
* CHALET HOTELS: The company has issued letter of award to LARSEN & TOUBRO for two orders worth 3.19 bln rupees for construction of civil and steel structure works of proposed hotel building at Powai.
* DEWAN HOUSING FINANCE CORP: The banking and securities markets regulators plan to seek views of audit firm TP Ostwal & Associates to understand how it gave a clean chit to the company in March, soon after media website Cobrapost revealed the company's promoters had diverted funds.
* DR REDDY'S LABORATORIES: Has confirmed it has recalled all its batches of heartburn drug Ranitidine after US Food and Drug Administration issued a caution notice that the medication contained carcinogenic substance nitrosodimethylamine above levels established by the regulator.
* GMR INFRASTRUCTURE: GMR Enterprises, the promoter holding company of GMR group, has restructured loans worth 9 bln rupees as it awaits plans to sell a stake in its airports business to a three-member consortium led by the Tata Group.
* GUJCHEM DISTILLERS INDIA: Life Insurance Corp of India sold 1,025 shares, or 0.6% stake, at 155 rupees per share through a bulk deal on BSE.
* IDBI BANK: Is in the final stages of negotiations with Edelweiss Mutual Fund to sell its mutual fund arm IDBI AMC in effort to get out of prompt corrective action and free up capital.
* INFOSYS: Has directed law firm Shardul Amarchand Mangaldas and consultancy EY to complete investigations into whistleblower allegations of accounting malfeasance within the next fortnight. - The company's regulatory problems mounted after a US law firm filed a suit on behalf of American investors, seeking damages for manipulating earnings, even as the US securities regulator started a probe into a complaint by anonymous whistleblowers.
* INTERGLOBE AVIATION: Aircraft deliveries are likely to slow down in the coming quarters, the management of the company said.
* JSW STEEL: Is confident that it will get a favourable ruling in the petition seeking immunity from the ongoing criminal cases against promoters of Bhushan Power and Steel before taking over the stressed asset.
* PNB HOUSING FINANCE: Board approved raising up to 100 bln rupees via non convertible debentures.
* SECURITY AND INTELLIGENCE SERVICES INDIA: The board has approved splitting each share of 10rupee face value into two shares of 5-rupee face value.
* SOUTH WEST PINNACLE EXPLORATION: HSBC Mutual Fund sold 1.4 mln shares, or 5% stake, in the company at 15.81% rupees per share on the National Stock Exchange.
* TATA STEEL: In a clarification to the stock exchanges, the company and its subsidiary are awaiting the outcome of the e-auction of Misrilall chrome mine by Odisha government.
* THOMAS COOK INDIA: Has an option to buy out brand "Thomas Cook" from Thomas Cook UK, which collapsed last month, though the Indo-Canadian billionaire Prem Watsa-led travel company can retain its name till 2025.
* VARUN BEVERAGES: Marina III (Singapore) sold 1.6 mln shares, or 0.5% stake, of the company at 630.02 rupees a share on the National Stock Exchange.
* VODAFONE IDEA: Has said it is disappointed with the Supreme Court's ruling on adjusted gross revenue.
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