Today's Stock News - 24.01.2020 : 09.00 Am
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* BHARTI AIRTEL: Has requested the Department of Telecommunications to wait till next week for
payment of past dues as the Supreme Court is set to hear its petition seeking more time to pay the dues.
* CG POWER AND INDUSTRIAL SOLUTIONS: The Ministry of Corporate Affairs has sought approval from the National Company Law Tribunal to appoint an independent auditor for reopening accounts of the company.
* COFFEE DAY ENTERPRISES: The company will sell Way2Wealth Securities including some of its subsidiaries to Shriram Ownership Trust, a promoter of Shriram Capital.
* DLF: Plans to invest 50 bln rupees to develop a 6.8 mln sq ft information technology park in Chennai, making the south Indian city its second-largest market after Gurugram.
* GAIL INDIA: The company has moved the Supreme Court against demand notices totalling 1.83 trln rupees that it received from the Department of Telecommunications following the apex court's judgement on adjusted gross revenue of telecom companies.
* HFCL: The company has commissioned and commenced commercial production at its greenfield optical fibre manufacturing unit in Hyderabad, Telangana.
* HDFC BANK: Will retain global executive search firm Egon Zehnder to find a successor to managing director Aditya Puri, as its board seeks to end an impasse and zero in on a candidate.
* HOUSING DEVELOPMENT FINANCE CORP: Plans to raise at least 25 bln rupees through bonds maturing in 17 months and has invited bids on Monday.
* ICICI BANK: The bank-led banking consortium of lenders to ABG SHIPYARD has declared its 140-blnrupee exposure to the company as a 'fraud' account. STATE BANK OF INDIA, the bank, and IDBI BANK have the lion's share of exposure--in excess of 50%.
* INDIABULLS HOUSING FINANCE: Credit Suisse (Singapore) bought 2.2 mln shares, representing 0.53% stake, of the company at 311.68 rupees per share through a bulk deal on the National Stock Exchange.
* INFO EDGE INDIA: The company has set up an alternative investment fund--Info Edge Venture Fund-- and invested 1 bln rupees in the same.
* INFOSYS: The Securities and Exchange Board of India is likely to call for a forensic audit of the
books of the company as it continues to probe whistleblower allegations of alleged financial irregularities.
* INTERGLOBE AVIATION: Yet another snag-prone Pratt and Whitney engine of IndiGo A320 Neo, on flight 6E-5384, stalled soon after taking off from Mumbai for Hyderabad in the early hours of Thursday.
* IPCA LABORATORIES: The National Company Law Tribunal, Mumbai, has approved the company's resolution plan for Noble Explochem.
* JK LAKSHMI CEMENT: The board will meet on Tuesday to consider raising funds through external commercial borrowings.
* JSW STEEL: An appellate tribunal said it would give a last chance to the Central Bureau of Investigation, the corporate affairs ministry and the Enforcement Directorate to address whether the company, the successful resolution applicant for debt-ridden Bhushan Power and Steel, should be held liable for prosecution for offences committed by the erstwhile management of Bhushan Power.
* KEI INDUSTRIES: The company will raise funds by way of issue of shares through qualified institutional placement that opened today at a floor price of 518.14 rupees per share.
* MAHINDRA HOLIDAYS & RESORTS INDIA: Is looking to acquire stressed assets in the hospitality sector across different parts of the country, including Kashmir.
* MCDOWELL HOLDINGS: Suresh Poonati on Thursday bought 72,312 shares, representing 0.5% stake, of the company at 24.48 rupees per share through a bulk deal on the National Stock Exchange.
* OIL & NATURAL GAS CORP: Has received bids for 50 of the 64 small and marginal oil and gas fields it has offered in a first-of-its-kind round of bidding to raise production by involving private companies.
* OIL INDIA: The government of Assam is willing to pay 20 bln rupees for additional 13.6% stake in Numaligarh Refinery, which has a 3 mln tn per annum petroleum refinery. Currently, the state government owns 12.4% stake in the refinery and 26% is held by the company. BHARAT PETROLEUM CORP owns 61.7% stake in Numaligarh Refinery.
The Assam government has requested the Centre to divest BHARAT PETROLEUM CORP's stake in
Numaligarh Refinery to the company.
* PERSISTENT SYSTEMS: The company and ValidSoft have jointly developed a secure digital voice authentication system for continuous user validation which will be integrated with Persistent System's banking solutions.
* REC: Plans to raise at least 10 bln rupees through bonds maturing on Mar 31, 2030, and has invited bids for the same on Monday.
* RELIANCE INDUSTRIES: Reliance Digital will offer 'unbelievable deals and amazing cashbacks' on electronic products at its "Digital India Sale" from Jan 24-26.
Reliance Jio Infocomm became the only telecom company to meet the deadline for the payment of adjusted gross revenue dues, paying 1.95 bln rupees on Thursday.
Shares of Reliance Retail, the unlisted arm of the company, rebounded sharply in the unofficial grey market on Thursday after the company tweaked the terms of a restructuring agreement.
* RELIANCE POWER: Axis Trustee Services has sold 17.2 mln shares, representing 0.6% stake, of the company at 2.15 rupees per share through a bulk deal on the National Stock Exchange.
* SP APPARELS: The company's board has decided to sell its retail division to SP Retail Brands Ltd for 810 mln rupees on a slump sale basis.
* SPICEJET: Expects a "substantial" profit hit from the grounding of Boeing's 737 MAX aircraft, Chairman Ajay Singh said on Thursday.
* STERLING AND WILSON SOLAR: Kenneth Andrade's Old Bridge Capital Management has written to the Securities and Exchange Board of India, accusing the Shapoorji Pallonji group of suppressing "material information" in the initial public offering prospectus of the company.
* SUBEX: The company has executed settlement agreement with two former directors for a full and final consideration of 105.5 mln rupees to resolve pending litigations.
* TVS MOTOR CO: Has been granted a patent for a device to determine the reduced carbondioxide
emissions from an electric vehicle compared to carbondioxide emissions from a standard petrol vehicle.
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