Today's Stock News - 20.01.2020 : 09.00 Am
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* ADANI ENTERPRISES: The Adani Group's plans to acquire stake in the Mumbai airport has hit another roadblock, with a tribunal restraining Bid Services Division (Mauritius) from selling its 13.5% stake in the airport till arbitration proceedings are completed.
* APL APOLLO TUBES: Has raised 200 mln rupees through the issue of commercial papers maturing in 70 days, carrying a coupon of 6.60%, to Quant Mutual Fund.
* BALRAMPUR CHINI MILLS: Pipelines of two incineration boilers were damaged in a carbon dioxide tank explosion at a distillery of the company in Uttar Pradesh on Thursday, two officials from the company said. No casualty was reported.
* BHARTI AIRTEL: Has partnered with Future Group which will see 'Airtel Thanks' customers get two-day early access to FUTURE RETAIL-run Big Bazaar's five-day sale. Has launched a new prepaid bundle at 179 rupees, in a pact with Bharti AXA Life.
* BRITANNIA INDUSTRIES: The company has raised 5 bln rupees through the issue of commercial
papers, with tenure up to 357 days.
* CHALET HOTELS: The company's board has approved a 100% acquisition of Belaire Hotels Pvt Ltd and Seapearl Hotels Pvt Ltd through a share purchase agreement.
* DEWAN HOUSING FINANCE CORPORATION: Committee of creditors of the company are looking to vote on a proposal inviting bids for selling the company in three parts.
* DLF: The National Company Law Appellate Tribunal has directed the company to register the transfer of 60,000 shares to the legal heirs of one of its deceased shareholders, and has imposed a cost of 500,000 rupees for "harassing the poor investors".
* EMAMI: Nuvoco Vistas, the Nirma Group's cement division, has emerged as the frontrunner to acquire the Emami Group's 9-mln-tn-per-annum cement business for 55-60 bln rupees enterprise value to consolidate its position in the east.
* FUTURE RETAIL: The Kishore Biyani-led Future Group has scaled down its e-commerce venture, Retail 3.0, and laid off 350-400 employees.
* GAIL INDIA: Is putting together a plan and persuading all possible participants--city gas distributors, gas suppliers, financiers, fleet owners and truck manufacturers--to get them on board and help build an effective ecosystem for liquefied natural gas-fuelled vehicles in the country.
* GAMMON INDIA: Has defaulted on dues totalling 37.02 bln rupees towards loan facilities from banks and financial institutions as on Dec 31.
* GHCL: Has raised 250 mln rupees through the issue of commercial papers, due on Mar 27, carrying a coupon of 7.65%. Board will meet on Thursday to consider a proposal to buy back shares.
* GOCL CORP: Has taken a line of credit of $300 mln from UNION BANK OF INDIA. Out of this, $150 mln will be invested in UK-based wholly-owned subsidiary HGHL Holdings for its business operations and the balance $150 mln will be utilised for future needs.
* GMR INFRASTRUCTURE: Company's arm GMR Airports Ltd has entered into an agreement with Kannur International Airport.
* HDFC ASSET MANAGEMENT CO: HDFC Mutual Fund sold 500,000 shares, representing 0.7% stake, of HSIL Ltd at 59.31 rupees per share through a bulk deal on the National Stock Exchange, bourse data showed.
* HDFC BANK: Has selected an executive search company to zero in on a successor for Managing Director and Chief Executive Officer Aditya Puri, and hopes to send a three-name short-list to the Reserve Bank of India by Jul-Aug.
* INDIAN OIL CORP: Has signed a pact with Cummins Technologies India to provide it with its diesel exhaust fluid, IOC ClearBlue.
* IL&FS TRANSPORTATION NETWORKS: Subsidiary Jorabat Shillong Expressway Ltd has entered into a settlement agreement with National Highways Authority of India for receiving a claim amount of 2.5 bln rupees.
* JSW STEEL: An enforcement directorate chargesheet in the Bhushan Power & Steel case on Friday
mentioned JSW Steel as a joint venture partner of the debt-laden company in a coal entity, implying that the company could remian in the ambit of ongoing probe.
* JET AIRWAYS (INDIA): Said it has entered into a conditional agreement with Koninklijke Luchtvaart Maatschappij N.V. for the sale of its Dutch operations. This is a significant development for the company which has been struggling to find suitors under insolvency proceedings currently under way in India.
* JAY SHREE TEA AND INDUSTRIES: The company will sell its stake in Mata and Gisakura tea estates, in East Africa, for $10 mln as part of its pact with Belgium-based Grand Lacs Trading SA.
* LUPIN: Has received five observations from the US Food and Drug Administration for its Vizag
manufacturing facility.
* MAHINDRA & MAHINDRA: Wholly-owned subsidiary Mahindra Holdings-board controlled arm
Mahindra First Choice Wheels has signed a pact to acquire up to 100% stake in Fifth Gear Ventures Ltd, in one or more tranches, for up to 304.5 mln rupees.
* MARUTI SUZUKI: The company has launched Bharat Stage-VI compliant petrol variant of its multipurpose van Eeco.
* MERCATOR: Has sold its floating storage and offloading unit ship, Prem Pride, for 495.4 mln rupees and used the proceeds to clear debt.
* MCDOWELL HOLDINGS: Suresh Poonati bought 79,052 shares, representing 0.56% stake, in McDowell Holdings Ltd at 26.54 rupees per share through a bulk deal on the National Stock Exchange, the bourse data showed.
* NMDC: Has hiked prices of its iron ore products by 350-400 rupees per tn from Sunday
* PIRAMAL ENTERPRISES: The company's subsidiary PEL-DRG Dutch Holdco BV will sell healthcare insights and analytics business Decision Resources Group to Clarivate Analytics Plc for $950 mln. The company's 36.5-bln-rupee rights issue will have to do all the heavy lifting in the final two days, with the offering subscribed less than 10% until Friday.
* PNC INFRATECH: Has received an order worth 6.39 bln rupees from the National Highways Authority of India for four-laning with paved shoulder of a stretch on National Highway 709A from Meerut to a bridge over the Yamuna in Haryana through Shamli.
* POWER FINANCE CORPORATION: Plans to raise $750 mln through Apr 2030 bonds at 3.95%.
* PRISM JOHNSON: Has acquired 15% stake in Sanskar Ceramics for 52.5 mln rupees.
* RAMKY INFRASTRUCTURE: INDIAN OVERSEAS BANK, the creditor to the company's subsidiary Srinagar Banihal Expressway, has filed an insolvency plea with the National Company Law Tribunal against the arm for non-payment of 2.37-bln-rupee dues.
* RELIANCE CAPITAL: Axis Trustee Services sold 1.6 mln shares, representing 0.64% stake, in the
company at 10.90 rupees per share through a bulk deal on the National Stock Exchange, bourse data
showed. A lender invoked 5.5 mln pledged shares in the company on Thursday.
* RELIANCE HOME FINANCE: A lender invoked 2.31% pledged stake in the company over Wednesday and Thursday.
* RELIANCE INDUSTRIES: Is likely to miss the Mar 31 deadline to close the deal to sell 20% stake in oil chemicals business for $15 bln to Saudi Aramco.
* RELIANCE INFRASTRUCTURE: A lender invoked 3.35% pledged stake in the company between Jan 13 and Jan 16.
* RELIANCE NAVAL AND ENGINEERING: The National Company Law Tribunal's Ahmedabad bench has admitted IDBI Bank's petition for a claim of 11.6 bln rupees against the company. A lender invoked 4 mln pledged shares in the company on Wednesday.
* RELIANCE POWER: A lender invoked 30 mln pledged shares in the company on Wednesday.
* SMS PHARMACEUTICAL: The company has received two observations from US Food and Drug
Administration for its manufacturing facility at Kandivalasa in Vipanagaram, Andhra Pradesh.
* VODAFONE IDEA: May offer the government a small part of its statutory dues by Jan 23 to ensure it doesn't get defaulter's tag or incur the displeasure from the apex court.
The net asset values of debt schemes of UTI Mutual, Nippon India Mutual and Aditya Birla Sun Life Mutual holding bonds of the company dipped 1-10% on Saturday after the fund houses marked down the value of their holdings of the telecom operator's papers.
Lenders to the company are factoring in some form of government intervention that will allow the company more time to repay its dues arising out of the Supreme Court's order on adjusted gross revenue liabilities.
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