Today's Stock View – 31.12.2018
* ADANI POWER: The Gujarat state electricity board has approached the Central Electricity Regulatory Commission, seeking its approval to amend the terms of the power purchase agreement for 2,000 MW signed with the company for procuring electricity from the company's imported coal-based plant in Mundra.
* AMTEK AUTO: The committee of creditors of the company has sought to bar Liberty House from bidding for any insolvent company.
* AUROBINDO PHARMA: Has received US drug regulator's tentative approval for pregabalin capsule, a generic of Lyrica CR, in 25-mg, 50-mg, 75-mg, 100-mg, 150-mg, 200-mg, 225-mg and 300-mg strengths.
* AAVAS FINANCIERS: Obtained fresh refinancing assistance of 4 bln rupees from National Housing Bankto "strengthen liquidity position" of the company.
* BAJAJ ELECTRICALS: Board will meet on Wednesday to mull raising funds through issue of nonconvertible debentures on a private placement basis.
* BANK OF BARODA: Board will meet on Wednesday to consider raising funds through Basel III-compliant tier-II bonds. Aims to hire up to three investment bankers, including a lead banker, to handle the proposed 100% sale of its Guyana operations by the end of March or latest by Apr-Jun.
* BANK OF INDIA: The government will infuse 100.86 bln rupees into the bank, which will help the public sector bank to come out of the Reserve Bank of India's prompt corrective action mechanism.
* BANK OF MAHARASHTRA: Has appointed P. Parikh & Associates, M.D. Gujrati & Co, P.G. Bhagwat & Co and K. Gopal Rao & Co as statutory central auditors for 2018-19 (Apr-Mar) and 2019-20 (Apr-Jun).
* BHARAT ELECTRONICS: Reliance Mutual Fund has sold 9.89 mln shares representing 0.41% stake in the company through open market on Thursday.
* BHARAT FINANCIAL INCLUSION: Has assigned a pool of receivables of an aggregate value of 8.49 bln rupees to a public sector bank on a direct assignment basis, its fifth direct assignment transaction in 2018-19 (Apr-Mar).
* CADILA HEALTHCARE: Has received US Food and Drug Administration's final approval to market clindamycin phosphate and benzoyl peroxide gel, a generic of DUAC gel.
* CENTRAL BANK OF INDIA: Board has approved raising up to 2 bln rupees by issuing shares to
employees under the Employee Stock Purchase Scheme. The bank and ORIENTAL BANK OF COMMERCE have received notices from All India Bank Employees' Association and Bank Employees' Federation of India saying that the employees of the banks will go on a strike on Jan 8-9 in support of their demands.
* CIPLA: Is recalling 4,800 bottles of Nevirapine extended release tablets used for the treatment of human immunodeficiency virus from the US market.
* COAL INDIA: Has decided to supply 25% of its planned production to the non-power sector, while the rest would be supplied to the 'high-priority' thermal power generators. Allocated 21.91 mln tn of the dry fuel under special forward e-auction to the power sector in Apr-Nov 2018, registering a decline of 20.1% over the year-ago period.
* CREDITACCESS GRAMEEN: Completed a direct assignment transaction of 1.77 bln rupees on Dec 28.
* FORTIS HEALTHCARE: Deloitte Haskins and Sells LLP has resigned as the statutory auditor of the company, effective Dec 28.
* HINDUSTAN UNILEVER: The Bombay High Court has allowed Amul to air its ice cream advertisements, but only after deleting content over which the company had raised objections.
* HOUSING DEVELOPMENT & INFRASTRUCTURE: The board has approved the allotment of 20 mln warrants at 31.1 rupees each to promoter Sarang Wadhawan.
* IDBI BANK: Has allotted shares worth 145 bln rupees to Life Insurance Corp of India, as part of the ongoing acquisition of 51% stake by the insurer in the bank.
* IL&FS TRANSPORTATION NETWORKS: Has defaulted on interest payment of 39.83 mln rupees towards non-convertible debentures due on Dec 28.
* INDIABULLS HOUSING FINANCE: Has raised a total of 6.5 bln rupees through three bonds--maturing in 12 months, 14 months, and three years.
* INDIAN OVERSEAS BANK: Will issue shares to employees at 11.90 rupees per share.
* INFIBEAM AVENUES: The company's acquisition of Unicommerce e-Solutions from Jasper Infotech has been terminated as certain conditions of the agreement were not fulfilled.
* JET AIRWAYS INDIA: Is in discussions with the STATE BANK OF INDIA for raising 15 bln rupees short-term loan to meet its working capital requirement and some payment obligations.
* JK CEMENT: Qualified institutional placement closed on Dec 28 with the issue price set at 695.80 rupees per share, a 5% discount to the floor price of 732.42 rupees per share.
* JSW STEEL: Has withdrawn its nominees from the board of VARDHMAN INDUSTRIES, a steel company it acquired recently through the insolvency resolution process for 620 mln rupees.
* LAKSHMI VILAS BANK: Will raise its overnight and one-month marginal cost of funds-based lending rates by 5 basis points, effective Tuesday.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: Plans to raise at least 5 bln rupees through a public issue of non-convertible debentures, which will be eligible for inclusion in the company's tier-II capital.
* NTPC: Wholly-owned subsidiary NTPC Vidyut Vyapar Nigam will set up 50-MW LNG-based power project at Hope Town, South Andaman, laid the foundation by Prime Minister Narendra Modi.
* PIRAMAL ENTERPRISES: Board will meet on Wednesday to consider raising up to 1 bln rupees through issue of market-linked non-convertible debentures on a private placement basis.
* POWER GRID CORP OF INDIA: Has entered into a loan agreement with Germany-based KfW for 200 mln euro (16.02 bln rupees).
* RANE MADRAS: The company's board has allotted 365,630 shares on conversion of same number of warrants allotted to the parent RANE HOLDINGS on preferential basis, at issue price of 547 rupees per share.
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm offers 100% cashback on recharge of 399 rupees in form of AJIO coupon, valid till Jan 31. The company's wholly-owned subsidiary Reliance Industrial Investments and Holdings has entered into an agreement to acquire 88% stake in Kanoda Energy Systems for 750 mln rupees. The company and its partner BP Plc of the UK have brought a deepsea pipeline laying ship to their Bay of Bengal block KG-D6 to help bring newer gas finds to production by 2020-21, the British firm said.
* SHRIRAM TRANSPORT FINANCE CO: Plans to raise at least 2 bln rupees through a public issue of nonconvertible debentures maturing in three, five, and 10 years.
* STEEL AUTHORITY OF INDIA: Has asked ArcelorMittal to expedite the process for signing a definitive agreement to set up a joint venture for high-end automotive steel plant, a senior official said. Proposes to set up a 3 mln tn per annum steel plant in Odisha for producing high-end flat products on the land the state had earmarked for South Korean steel major Posco's now abandoned mega steel plant.
* SUN PHARMACEUTICAL INDUSTRIES: Has won a trademark battle against Delhi-based Akums Drugs and Pharmaceuticals for its pain reliever Volini.
* UNITED BANK OF INDIA: Is planning to write to the Insolvency and Bankruptcy Board of India to have a monitoring mechanism for resolution professionals.
* VEDANTA: The company's proposed $8-bln investment in various verticals will largely be financed through "internal accruals", with the metals and mining major expecting a 4-5 fold jump in its margins in the next three years.
* VICEROY HOTELS: Committee of creditors will meet today to consider various resolutions plans the company has received.
* VIJAYA BANK: Board will meet on Tuesday to consider issuing shares to employees.
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