Today's Stock News - 19.12.2019: 09.00 Am
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* BANK OF BARODA: Has raised 17.47 bln rupees by issuing Basel-III compliant bonds on a private placement basis.
* BHARTI AIRTEL: Chairman Sunil Mittal said it would be fine if the regulator were to fix a floor for voice tariffs as well as for data, adding that he had "legal hope" of getting relief on its over 355-blnrupee adjusted gross revenue dues, which needs to be paid within just over a month.
* BRIGADE ENTERPRISES: Has set itself a target of achieving 25-30% growth in 2020-21 (Apr-Mar), Brigade Group Chairman and Managing Director M.R. Jaishankar said.
* COLGATE PALMOLIVE (INDIA): Is betting on technology and data analytics to enhance its distribution process and drive up sales.
* DR AGARWALS EYE HOSPITAL: The subsidiary of Dr Agarwal's Healthcare has raised 2.15-bln-rupee debt from CDC Group to expand the chain across India, Africa and South Asia, and invest in the latest technology for specialty eye care.
- Plans to invest 5 bln rupees in the next two-three years to expand its footprint across India, Africa,
and South Asia, according to a senior company official.
* FUTURE SUPPLY CHAIN SOLUTIONS: Griffin Partners sold its entire 14.63% stake or 5.86 mln shares in the company through an off-market sale on Tuesday.
* GOA CARBON: The company's unit in Paradeep, Odisha, will likely start production from Friday.
* GUJARAT STATE PETRONET: The board has appointed Anil Mukim as managing director of the
company, effective Dec 13.
* HERO MOTOCORP: Has emerged as the largest research and development spender among Indian twowheeler makers, having invested 35.03 bln rupees over the last five years, as it tries to build technological capabilities after the termination of its joint venture with Japan's Honda Motor.
* HINDUSTAN UNILEVER: The Delhi High Court has ordered Snapdeal founders Kunal Bahl and Rohit Bansal to personally appear before it on Jan 9, in a contempt case where the two sellers had allegedly listed counterfeit products of the company on the platform by flouting a court order.
* HOUSING DEVELOPMENT & INFRASTRUCTURE: Managing Director Sarang Wadhawan told the Bombay High Court on Wednesday that he had no objection if the realty group's assets were sold for recovery of dues of Punjab and Maharashtra Cooperative bank.
* ICICI BANK: The Bombay High Court on Wednesday gave the bank and the Reserve Bank of India three weeks to file a rejoinder based on 'merits' in the petition filed by Chanda Kochhar.
* IDBI BANK: Is concerned over the Central and state departments withdrawing deposits from the bank, while not offering fresh business to the LIC-owned lender, the finance ministry has suggested these departments to continue doing business with the lender.
* INDIABULLS HOUSING FINANCE: The company and its directors, including Chairman Sameer
Gehlaut and Chief Executive Officer Gagan Banga, have apologised to the Supreme Court and also
deposited 170 mln rupees for selling the pledged shares of erstwhile promoters Malvinder and Shivinder Singh in FORTIS HEALTHCARE.
* INDIAN OIL CORP: The company's INDMAX refining technology has been selected by a Serbian oil and gas company for production of higher value products from crude oil.
* L&T FINANCE HOLDINGS: Has approved raising up to 3 bln rupees by issuing cumulative
compulsorily redeemable non-convertible preference shares on a private placement basis at the dividend rate of 7.5% per annum.
* L&T TECHNOLOGY SERVICES: Has seen an increase in smaller deals from the same set of clients, its top executive said, even as global firms turn cautious on committing large deals due to an uncertain global environment.
* LEMON TREE HOTELS: Has signed a licence agreement for a 44-room hotel at Baga in Goa, under its brand 'Lemon Tree Hotel'.
* NBCC (INDIA): Received business of 88.61 bln rupees in November.
* NESTLE INDIA: Is eyeing cost efficiencies as it looks to tackle soaring raw material prices, which the company doesn't see cooling off anytime soon.
- The company's revenue growth is faster than BRITANNIA INDUSTRIES and COLGATE
PALMOLIVE (INDIA) due to new product launches.
* NMDC: Has received approval from the Indian Bureau of Mines for modified mining plan of
Kumaraswamy Iron Ore Mine in Karnataka to 10 mtpa from 7 mtpa.
* PIRAMAL ENTERPRISES: Canada Pension Plan Investment Board has committed $225 mln to the India Resurgence Fund, a distressed assets buyout platform set up with the company and Bain Capital Credit.
* PUNJAB NATIONAL BANK: The bank's subsidiary has lost its UK High Court appeal in a $45-mln deceit claim against seven individuals and two companies based in India and the US.
* RELIANCE COMMUNICATIONS: Ericsson has said a bankruptcy tribunal can't "adjudicate" on pleas by the company for a refund of 5.5 bln rupees from the Swedish telecom equipment maker, saying the payment was made as ordered by the Supreme Court.
* SOUTH INDIAN BANK: Will reduce its marginal cost of funds-based lending rates across tenures by 10 basis points from Friday.
* TATA MOTORS: Subsidiary Jaguar Land Rover has acquired Bowler, a UK-based manufacturer of allterrain performance cars, parts and rally raid vehicles.
- Will use the group's retail arm, Croma, to digitally showcase its Nexon EV. The car is scheduled to
be unveiled in Mumbai on Thursday.
* UNITECH: The Supreme Court has directed the government to take over the management of the company after forensic auditors found diversion of funds.
* VODAFONE IDEA: Enterprise arm Vodafone Idea Business Services announced the launch of Vodafone Secure Device Manager, powered by IBM Security MaaS360, and Unified End-point Management.
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