Today's Stock News - 12.12.2019: 09.00 Am
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* BANK OF INDIA: Under its new credit outreach programme, the bank plans to disburse loans to the tune of 75-100 bln rupees, Executive Director C.G. Chaitanya said.
* BHARTI AIRTEL: The company said news on Dish TV merger speculative, does not want to comment. Chairman Sunil Mittal called on the government to ensure that the Indian telecom market continues to have three private carriers. He also urged the Centre and the judiciary to give "sympathetic consideration" to the industry's appeal for relief after the Supreme Court's order on adjusted gross revenue left companies
struggling.
-Reliance Jio Infocomm and the company have stepped up the fight for subscribers by rolling out
higher incentives for retailers who can win over each other's customers, having just raised tariffs.
* CADILA HEALTHCARE: The company has launched Vildagliptin tablets for 4.95 rupees each.
* CIPLA: Avenue Therapeutics, Inc has submitted a new drug application to US Food and Drug
Administration for IV tramadol for the management of moderate to moderately severe pain in adults in a medically supervised health care setting.
* DEWAN HOUSING FINANCE CORP: The Reserve Bank of India has appointed EY India as advisor to the administrator and AZB & Partners as legal advisors for the company.
* GENERAL INSURANCE CORP OF INDIA: The company has appointed general managers Reena
Bhatnagar and Deepak Prasad to jointly look after financial and administrative powers and functions of the chairman and managing director, effective Tuesday, till the post is filled by the government or until further orders, whichever is earlier.
* GMR INFRASTRUCTURE: GMR airports' board, at its meeting scheduled on Friday, will consider a proposal to raise 2.5 bln rupees through issue of non-convertible debentures.
* GUJARAT STATE PETRONET: J.N. Singh has stepped down as the managing director of the company.
* HG INFRA ENGINEERING: The company's road project in Rajasthan has received Dec 10 as appointed date from the National Highways Authority of India.
* HINDUSTAN PETROLEUM CORP: Facing flak over the declining number of liquefied petroleum gas cylinder refills under the Pradhan Mantri Ujjwala Yojana, the company has started the auto-booking of cylinders for inactive connections.
* ITC: Is extending its nascent frozen foods business to a range of new products and smaller towns and cities to compete with more established rivals such as McCain Foods and Godrej Yummiez, even as it chases an ambitious target of 1 trln-rupee non-tobacco FMCG sales by 2030.
* JET AIRWAYS INDIA: The National Company Law Tribunal has sought a reply from the Directorate General of Civil Aviation and the civil aviation ministry on whether the air slots belonging to the company that had been assigned to other airlines would be returned if the bankrupt company were to find a new owner.
* MAHANAGAR TELEPHONE NIGAM: The company will seek shareholders' approval to raise 62.95 bln rupees through issue of preference shares on private placement basis to the government towards payment of spectrum cost of fourth generation.
* MAHINDRA & MAHINDRA: Anand Mahindra, the chairman of the company, on Wednesday admitted that entering the commuter bike segment more than a decade ago was a failure on the part of the group.
* MANPASAND BEVERAGES: The company made an application to the stock exchanges on Tuesday to extend the time for submission of financial results for the June quarter.
* MARUTI SUZUKI INDIA: Aggressive promotion by the company and an uptick in enquiries ahead of price hikes in January are seen translating into improved demand for passenger vehicles in December, said Shashank Srivastava, company's executive director, marketing and sales.
-Is confident its Bharat Stage-VI and compressed natural gas models will be enough to make up for
the absence of diesel variants from its portfolio, helping it hold on to the top spot.
* MCLEOD RUSSEL INDIA: The Kolkata bench of National Company Law Tribunal is yet to admit the application filed by YES BANK against the company under Section 7 of the Insolvency and Bankruptcy Code, 2016.
* NESTLE INDIA: National Anti-profiteering Authority on Wednesday held that the company's
methodology of passing reduction in the tax was arbitrary.
* PRESTIGE ESTATES PROJECTS: The company's board will meet on Saturday to consider raising funds through rights issue, public issue, qualified institutional placement, preferential issue of shares or any other method.
* RELIANCE CAPITAL: Has informed the exchanges that it's servicing of interest or principal of nonconvertible debentures falling due on Dec 9 is delayed.
* RSWM: The board has approved raising up to 1.5 bln rupees through rights issue to eligible equity
shareholders. -India Ratings and Research has cut the long- and short-term credit ratings of the company.
* RUPA & CO: The company has set up a wholly-owned subsidiary, Rupa Fashions, for manufacturing and trading of hosiery and related goods.
* UJJIVAN FINANCIAL SERVICES: Government of Singapore bought 0.51% stake or 620,807 shares in the company at 342.31 rupees a share through a bulk deal on the National Stock Exchange.
* UNITED BREWERIES: Will drop its oldest global distributor, Ultimate Branding Worldwide. The move comes in the wake of investigations by the Enforcement Directorate into a possible nexus with the former liquor baron Vijay Mallya following a whistle-blower complaint.
* VODAFONE IDEA: The company denies report of any negotiations taking place with Brookfield Asset Management Inc and Edelweiss Group on sale of assets.
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