Today's Stock News - 08.11.2019: 09.00 Am
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* ADANI TRANSMISSION: The board has approved raising up to $500 mln through dollar bonds. It also approved buyback of existing non-convertible debentures and Masala Bond of 22.90 bln rupees in one or more tranches.
- The board approved increase in limits for raising external commercial borrowings to 100 bln rupees
from 50 bln rupees, subject to directions issued by the Reserve Bank of India.
* BHARTI AIRTEL: VODAFONE IDEA and the company have rejected Reliance Jio Infocomm's contention that continuing with interconnection usage charges would encourage them to keep users on second generation and dis-incentivise upgrading to fourth generation, saying such views disregard basic consumer choice principles, especially when there is freedom to switch operators.
* BAJAJ FINANCE: Sets qualified institutional placement issue price at 3,900 rupees per share.
* CAN FIN HOMES: Baring PE Asia has emerged as the sole bidder to acquire a controlling stake in the company.
* CENTRUM CAPITAL: The compaany board will meet on Wednesday to consider raising funds through non-convertible debentures.
* CORPORATION BANK: The bank has set a coupon of 8.93% on its Basel-III compliant tier-II bonds maturing in 10 years, and accepted bids aggregating 10 bln rupees.
* DEWAN HOUSING FINANCE: Promoters on Thursday issued a statement reiterating their intent to cooperate with banks, investigative agencies and courts to ensure debt resolution, while simultaneously refuting reports that they intend to flee abroad.
* DLF: The board has approved the appointment of Vivek Anand as group chief financial officer of the company.
* FEDERAL BANK: The Reserve Bank of India has approved appointment of Grace Elizabeth Koshie as parttime chairperson of the bank.
* FEDERAL-MOGUL GOETZE INDIA: The Securities Appellate Tribunal has dismissed Tenneco Inc's plea against the offer price set by the Securities and Exchange Board of India for Tenneco Inc's open offer for the company.
* HAVELLS INDIA: The company has launched a new range of air purifiers, Freshia, priced at 14,490-43,290 rupees.
* HDFC BANK: The Reserve Bank of India is unlikely to take any action against the bank for debiting Altico's account to recover a loan and triggering a default in the company's external commercial borrowing as it didn't seem to have flouted any rules.
* INDIAN ENERGY EXCHANGE: The company on Wednesday incorporated a wholly-owned subsidiary, Indian Gas Exchange, to develop an energy trading platform, including a gas exchange in India, and establish, operate, and manage facilities in the country.
* INDIAN OIL CORP: In the wake of a slew of government measures to attract more private players in the oil and gas retail segment, the company is preparing an action plan to confront the "challenging times ahead".
* INFOSYS: Has opened its new digital innovation centre in Dusseldorf, Germany, to work more closely with clients in the region to support their digital transformation.
* J KUMAR INFRAPROJECTS: HDFC Mutual Fund has bought 1.03 mln shares or 1.36% stake in the company at 150.50 rupees apiece through a bulk deal on the National Stock Exchange.
* KESORAM INDUSTRIES: In its quest to make Birla Tyres a financially strong entity, the company is first focussing on getting its passenger car radial tyre facility up and running in Odisha, and thereafter advance its talks for partnerships. Is hopeful of getting the National Company Law Tribunal's final nod soon for demerging its tyre business. The demerged entity is likely to come into effect by early January.
* MINDTREE: Pradip Kumar Menon has resigned as chief financial officer with effect from Nov 16.
* NATIONAL ALUMINIUM CO: The company has hiked prices of aluminium ingots for the third time in a week with effect from Thursday. The government-owned aluminium producer has raised prices of products by more than 2%.
* POWER FINANCE CORP: Company and its subsidiary REC are set to raise up to 200 bln rupees through their first retail taxable-bond sales, helping inject a fresh lease of life into the moribund public issuance market.
* RAYMOND: The company will de-merge its lifestyle business into a separate company to simplify the group structure and create value. The new company will be listed on stock exchanges. The company will allot equity shares and compulsorily convertible preference shares to associate company JK Investo Trade (India) against a corpus of 3.5 bln rupees, and repay its debt.
* REC: Plans to raise at least 5 bln rupees through bonds maturing on Dec 13, 2022, and has invited bids for the same on Monday.
* RELIANCE CAPITAL: The Insurance Regulatory and Development Authority of India has barred
subsidiary Reliance Health Insurance Co from selling policies due to fall in solvency ratio.
* RELIANCE INDUSTRIES: On Thursday said its arm Reliance Strategic Business Ventures has increased its stake in US-based SkyTran Inc to 17.37%.
- The Securities Appellate Tribunal on Thursday asked the Securities and Exchange Board of India to
pass an order by November end in the matter of the company's acquisition of NETWORK18 MEDIA & INVESTMENTS and TV18 BROADCAST.
* UCO BANK: The bank allotted 1.26 bln equity shares at 16.89 rupees per share on a preferential basis to the government.
* VODAFONE IDEA: Has come up with the sector's first tariff plan based on faster data speeds, a move aimed at expanding the segment of higher-paying monthly subscribers and increasing average revenue per user.
* ZEE ENTERTAINMENT ENTERPRISES: Goldman Sachs has cut price target on the company by 28% to 347 rupees and trimmed DISH TV INDIA price aim by 24% to 22 rupees.
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