Today's Stock News - 23.01.2020 : 09.00 Am
KEEP REFRESH FOR NEXT UPDATE
* ADANI GREEN ENERGY: Moving away from polluting coal, billionaire Gautam Adani on Wednesday laid out a blueprint to make his group the world's largest solar power company by 2025 and the biggest renewable energy firm by 2030 through an aggressive push on capacity addition in these areas.
* ADANI PORTS AND SPECIAL ECONOMIC ZONE: The company's Mundra port has received its first cargo of liquefied natural gas paving way for the commissioning of long-delayed 5-mtpa joint venture-- GSPC LNG--next month.
-The company is set to buy an under-construction greenfield commercial port in Kakinada and the
adjoining special economic zone in Kona village in Thondangi mandal of East Godavari district, promoted by the Hyderabad-based GMR Group.
* ALOK INDUSTRIES: The National Company Law Tribunal's Ahmedabad bench has approved the
lender's resolution plan for the company.
* ASHIANA HOUSING: Has announced 'Ashiana Amantran' project in Jaipur and received registration under the Real Estate Regulation and Development Act, 2016, for phase one of the project.
* ASIAN PAINTS: The board has approved merger of wholly-owned subsidiary--Reno Chemicals
Pharmaceuticals & Cosmetics--with the company.
* AVENUE SUPERMARTS: The company's promoter acquiring the shares of SPENCER'S RETAIL have fuelled speculation of a likely alliance or consolidation of some operations between the two companies, with a merger being a remote possibility.
* BALLARPUR INDUSTRIES: Has been taken to the bankruptcy court by lenders led by non-banking finance company Finquest Financial Solutions.
* CARE RATINGS: Stichting Pensioenfonds ABP sold 800,000 shares or 2.7% stake in the company at 658.03 rupees per share through a bulk deal on the National Stock Exchange.
* CEAT: The company's board has approved raising up to 5 bln rupees through the issue of non-convertible debentures on a private placement basis, in tranches.
* CREDITACCESS GRAMEEN: Shareholders of Madura Micro Finance will get 157 shares of the
company for every 100 shares held by them on the former's merger with the latter.
* DEWAN HOUSING FINANCE CORP: Fixed deposit holders of the company have approached the
Supreme Court, seeking a stay on the company's plans to resume lending.
* EMAMI: The Emami Group is in talks to raise 15 bln rupees through placement of non-convertible
debentures and sell its 400-bed hospital in Bhubaneswar for about 3 bln rupees to help reduce promoters' pledged shares and become debt-free, two senior industry executives said.
* FORCE MOTORS: Has set itself a target to grab 10% of global van sales in the coming three to five years, after having captured over 60% share in the local market.
* GAIL INDIA: At least five non-telecom public sector firms including the company, POWER GRID CORP OF INDIA and OIL INDIA are filing separate applications in the Supreme Court seeking clarification on the applicability of the apex court's Oct 24 order on payment of licence fee dues.
The company plans to invest over 450 bln rupees over the next five years to expand the National Gas
Pipeline Grid and city gas distribution network to help push for greater use of environment-friendly fuel, its chairman Ashutosh Karnatak said.
* GAYATRI PROJECTS: Authum Investment and Infrastructure and Mentor Capital sold 4.3 mln shares or 2.3% stake in the company through open market on Tuesday.
* HCL TECHNOLOGIES: Said its President and Chief Executive Officer C. Vijayakumar has been named chairman of the IT industry Governors community of the World Economic Forum. The announcement was made at the forum's annual meeting in Davos, Switzerland.
-The company plans to nearly double its campus recruits to 15,000 in 2020-21 (Apr-Mar), from
8,600 this financial year.
* HINDUSTAN FLUOROCARBONS: The Union Cabinet on Wednesday approved the closure of the company.
* HINDUSTAN PETROLEUM CORP: Plans to raise at least 2 bln rupees through bonds maturing on Apr 12, 2023, and has invited bids for the same on Monday.
* HINDUSTAN ZINC: Production of zinc fell 5% on year to 178 tn in Oct-Dec, while silver output was down 16% at 149 tn.
* HOUSING AND URBAN DEVELOPMENT CORP: As on Dec 31, loan disbursement for 2019-20 (Apr- Mar) was at 60.1 bln rupees, while loan sanctions were at 74.9 bln rupees.
* IL&FS TRANSPORTATION NETWORKS: Subsidiary ITNL Road Infrastructure Development Co will receive 1.44 bln rupees as settlement from the Ministry of Road Transport and Highways for foreclosure of the Beawer-Gomti road concession agreement.
* INDIAN OIL CORP: Has signed a memorandum of understanding with Ghana's National Petroleum Authority to offer assistance and technical expertise to the country in implementing its National LPG Promotion Policy.
* INFOSYS: Has an extremely strong deal pipeline, Chief Executive Officer Salil Parekh told.
* ITI: Fixed the price band of its 180-mln-share follow-on public offering at 72-77 rupees a share. The stateowned company will raise 12.96 bln rupees at the lower end of the band and 13.86 bln rupees at the upper end.
* KARNATAKA BANK: The board will meet on Monday to consider various options for capital
augmentation.
* NBCC INDIA: The company, which was selected to acquire debt-hit realty developer JAYPEE
INFRATECH, is ready with a backup plan in case it does not get 7.50 bln rupees of JAIPRAKASH
ASSOCIATES.
* OIL INDIA: Has urged the Supreme Court to clarify that its order on adjusted gross revenue is not
applicable on the revenue generated by from oil and gas business.
-Moody's Investor Service has said that demand notices received by the company from the
Department of Telecommunications seeking statutory dues of over 480 bln rupees is credit negative for the public sector upstream oil company, and highlighted the risks associated with an "unpredictable regulatory environment in India".
-The company has said that the Department of Telecommunications' demand seeking 401.08 bln
rupees as adjusted gross revenue and other telecom dues "would lead to permanent shutting down" of the company.
* PIRAMAL ENTERPRISES: Has agreed to invest 5 bln rupees to expand its active pharmaceutical
ingredients facility in Telangana, the state Industry Minister K.T. Rama Rao said in a press release.
-The Piramal Group has agreed to invest 5 bln rupees in Telangana over the next three years.
-Piramal Realty will invest 15 bln rupees to develop Piramal Vaikunth, a 32-acre value housing
project at Thane in Maharashtra.
* RBL BANK: The bank on Wednesday approved reappointment of Rajeev Ahuja as executive director with effect from Feb 21, subject to approval from the Reserve Bank of India.
* RELIGARE ENTERPRISES: The Economic Offences Wing of the Delhi Police is probing the role of top executives at the company and its lending arm, Religare Finvest, in allegedly facilitating approval of loans to some shell companies with little scrutiny.
* SHRIRAM TRANSPORT FINANCE CO: The issue of non-convertible debentures scraped through as many investors gave the offering a miss in the absence of topnotch rating.
* SICAL LOGISTICS: YES BANK sold 448,265 shares or 0.76% stake in the company at 13.49 rupees per share through a bulk deal on the National Stock Exchange.
* TATA COMMUNICATIONS: Said it has made no provision for the telecom department's demand of 66.33 bln rupees for adjusted gross revenue dues as the Supreme Court order did not include the company's appeal, which is still pending before the court.
* TATA MOTORS: Jaguar Land Rover is set to cut jobs through a major overhaul in shift patterns at its Halewood factory in the UK--a move that could leave hundreds of the company's staff unemployed.
-Was slow to launch cars with Bharat Stage-VI emission norms, but expects the delay to turn into an
advantage as its BS-VI cars will have newer technological features than competitors', said Mayank Pareek, president of passenger vehicle unit of the company.
-Vehicle safety group Global NCAP said the company's compact cars Tiago and sedan Tigor
achieved four-star rating for adult occupant protection in a crash test.
PMI Electro and BYD-Olectra have won large contracts floated by state transport agencies for supply of electric buses under a government scheme to promote green mobility, followed by the company, JBM AUTO and Mytrah.
* TATA STEEL BSL: The Supreme Court has stayed a recovery suit filed by an operational creditor against erstwhile Bhushan Steel, which was taken over by TATA STEEL in May 2018.
* UPL: Confirmed that Income Tax department did conduct a search at their offices and departments.
* V-MART RETAIL: Foreign portfolio investor Steadview Capital Mauritius sold 1.7% stake or 312,816 shares of the company at 1,885 rupees per share via bulk deal on the BSE.
* VADILAL INDUSTRIES: The feuding promoters of the company are in advanced talks to sell their entire stake in the ice cream maker and its domestic distribution business to a combine of Arpwood Partners and PAG.
* VODAFONE IDEA: The company informed the Department of Telecommunications that it will wait for the Supreme Court's decision on adjusted gross revenue modification pleas, implying that it won't make any payments to the government by the Jan 23 deadline.
* ZEE ENTERTAINMENT ENTERPRISES: Punit Goenka, the CEO of the company, on Wednesday said the company expected to recover trade receivables of 7.50 bln rupees from two entities over the next 12-24 months.
* ZOTA HEALTHCARE: Has received five-year product registration licences from Tanzania Medicines and Medical Devices Authority for Zotalol and Carbamazepine tablets. The licences are also renewable.
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