Today's Stock News - 30.10.2019: 09.00 Am
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* AUTHUM INVESTMENT & INFRASTRUCTURE: Promoters Vidisa Textile and Realstep Vinimay sold 1.5% and 2.6% stake, respectively, in the company at 28.95 rupees per share through a bulk deal on BSE.
* BANDHAN BANK: The Reserve Bank of India has imposed a penalty of 10 mln rupees on the bank for its failure to reduce promoter stake to 40%.
* BHARTI AIRTEL: Revenue from domestic mobile services rose 0.8% sequentially to 108.12 bln rupees in Jul-Sep. Average revenue per user from India mobile services was at 128 rupees during the quarter.
- A panel of secretaries will take stock of financial stress in the debt-laden telecom sector and suggest
steps to provide relief to carriers such as VODAFONE IDEA and the company that are facing an over 800-blnrupee payout in additional statutory dues after the Supreme Court order on adjusted gross revenue.
* CENTRAL BANK OF INDIA: The capital raising committee of the board of directors of the lender has set 21.17 rupees apiece issue price for share issue to the government.
* GMR INFRASTRUCTURE: The Tata Group has agreed to reduce the stake it had proposed to acquire in GMR Airports to about 15% from the previously announced 20%, which will likely allow the GMR Group- Tata deal to sail through.
- GMR Group has reworked its proposed 80-bln-rupee investment in its airport business by restricting
Tata Sons' effective shareholding in Delhi International Airport to 10%.
* HDFC LIFE INSURANCE CO: Co-promoter Standard Life of UK is set to sell nearly 5% in the company for about 57 bln rupees through block deals on the bourses today.
* INTERGLOBE AVIATION: Directorate General of Civil Aviation has ordered the company-run IndiGo to make engine changes to 16 Airbus A320neo aircraft within 15 days, failing which would lead to grounding of the aircraft, the regulator's Director General Arun Kumar said.
- Has placed an order for 300 aircraft with Airbus, from the A320neo family, the company said. This
order includes a mix of A320neo, A321neo and A321XLR aircraft, and will take the airline's total order for A320neo variants to 730.
* LAKSHMI VILAS BANK: Capri Global Holdings has raised its holding in the bank as it bought 0.7% stake or 2.5 mln shares of the lender through a bulk deal at 14.05 rupees apiece on the National Stock Exchange.
* LEMON TREE HOTELS: The company has opened a 139-room hotel under its new brand "Aurika Hotels & Resorts" in Udaipur.
* NATIONAL ALUMINIUM CO: Has cut the prices of aluminium ingots by nearly 1% with effect from Friday.
* NTPC: Is likely to acquire the central government's stake in two unlisted state-owned power companies-- THDC and Neepco.
* PETRONET LNG: Is likely to seek a renegotiation of its long-term contract with Qatar's RasGas given the slump in prices of the super cooled gas in the international market, company's Managing Director and Chief Executive Officer Prabhat Singh said.
* POWER FINANCE CORP: The Government may prod the company to extend 'special funds' to some of the stressed electricity distribution entities in order to enable them to cut the dues to power producers.
- Has requested state-run power distribution companies to maintain dedicated bank accounts only in
public-sector banks and regional rural banks for receiving and utilising funds for schemes run by the central government.
* PUNJAB & SIND BANK: Plans to raise at least 1 bln rupees through Basel III-compliant tier-II bonds maturing on Dec 3, 2029, and has invited bids on Thursday.
* PUNJAB NATIONAL BANK: Is unlikely to subscribe to the fresh equity expansion of its housing
subsidiary PNB HOUSING FINANCE while Carlyle Group is keen to expand its investment.
* PVR: The fund-raising committee of the company has approved the issue price of 1,719.05 rupees per share for its qualified institutional placement that closed on Tuesday.
* RELIANCE INDUSTRIES: The government is weighing options of terminating the production-sharing contract or invoking arbitration to penalise the company for selling to itself all the coal bed methane gas it produces, allegedly in violation of policy.
* TATA MOTORS: The company bets on aggressive cost-cutting measures and stronger performance from Jaguar Land Rover to deliver better numbers in the second half of 2019-20 (Apr-Mar).
* THOMAS COOK INDIA: The company said its Chairman and Managing Director Madhavan Menon has resigned from the board of QUESS CORP with immediate effect.
* WELSPUN INDIA: The company on Monday secured the final approval from a trial court in the US for its settlement agreement, to resolve all pending legal claims pertaining to marketing and labelling of its premium cotton home textile products.
* WIPRO: The company has opened a next generation engineering and innovation centre in Virginia, US, which is expected to create 200 additional jobs by 2021.
* ZEE ENTERTAINMENT ENTERPRISES: Promoter Essel International has sold over 268,000 shares of the company through market sale on Oct 22.
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