Today's Stock News - 01.11.2019: 09.00 Am
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* ADANI ENTERPRISES: Adani Group, Delhi International Airport, Canada-based Fairfax Financial Holdings, and Zurich Airport had bid for the Jewar airport project, which when fully functional, would entail an investment of 150 bln rupees.
* AARTI DRUGS: The company has incorporated a marketing subsidiary Pinnacle Chile SpA in Chile, to market formulation drugs and participate in tenders.
* AHLUWALIA CONTRACTS INDIA: The company has received three construction orders totalling 5.22 bln rupees.
* ALLAHABAD BANK: Reduced rates on loans linked to external benchmark loan by 25-35 basis points.
* APOLLO TYRES: At its meeting scheduled for Tuesday to consider Jul-Sep earnings, the board will also consider a proposal to raise funds through private placement of non-convertible debentures.
* ARIHANT FOUNDATIONS & HOUSING: Pioneer Investcorp bought 82,652 shares or 0.96% stake in the company on the NSE in a bulk deal, and 0.95% stake or 82,529 shares on BSE at 17.50 rupees apiece.
* ASTER DM HEALTHCARE: The company, through its subsidiary Aster DM Healthcare FZC, will acquire 80% stake in United Arab Emirates-based Premium Healthcare Ltd for 9 mln UAE Dirham (around 173.9 mln rupees).
* BAJAJ AUTO: The company and TVS MOTOR CO have mutually agreed to end a 10-year old patent infringement case and a defamation suit.
* BHARTI AIRTEL: Unveiled the 'Airtel Xstream Fibre' for home broadband services as part of a plan to bring all its consumer-based products and services under the Xstream brand.
- S&P Global Ratings today placed the company on CreditWatch with negative implications on
account of adverse ruling by the Supreme Court over the definition of adjusted gross revenue, the ratings agency said.
* CREDITACCESS GRAMEEN: Board has approved raising up to 10 bln rupees through non-convertible debentures.
* COX & KINGS: Letko Brosseau Emerging Markets Equity Fund sold 0.6% stake or 1 mln shares of the company at 1.61 rupees apiece in a bulk deal on the BSE.
* DB REALTY: IL&FS India Realty Fund, a private equity arm of the debt-laden Infrastructure Leasing & Financial Services, has approached the dedicated bankruptcy court against the company over default of around 1.08 bln rupees.
* GLAXOSMITHKLINE CONSUMER HEALTHCARE: The company has re-launched Crocin pain relief for treating headaches.
* GVK POWER & INFRASTRUCTURE: Has deposited 12.48 bln rupees in an escrow account for buying out Bidvest's share in Mumbai International Airport.
* HCL TECHNOLOGIES: Launched Google Cloud business unit to accelerate adoption of cloud technology by enterprises.
* HINDALCO INDUSTRIES: Has hiked the prices of its aluminium wire rods, billets and ingots by more than 1% with effect from Wednesday.
* HINDUSTAN CONSTRUCTION CO: Left with no effective remedy to initiate action against the
government, PSUs and other statutory bodies for recovery of thousands of crores of rupees, the company and Gammon Engineers & Contractors have approached the Supreme Court seeking to prevent their lenders from pushing them into insolvency.
* HINDUSTAN UNILEVER: Is bringing a new line of soaps, shampoos, conditioners and body cream from its global parent to tap into the growing trend for natural products and at the same time, align launches with its sustainability agenda.
* INDIABULLS HOUSING FINANCE: Saudi Arabian Monetary Agency sold 0.8% stake or 3.34 mln shares of the company at 211.81 rupees apiece through a bulk deal on National Stock Exchange.
- Indiabulls Asset Management Co has asked many of its sales executives to quit and cut salaries of
several senior managers as it struggles to overcome a sharp fall in its assets under management.
* INDIAN RAILWAY CATERING AND TOURISM CORP: Is working on a luggage booking facility for passengers on the premium Mumbai-Ahmedabad Tejas Express, which will have their bags picked up from their homes and delivered at their destination before they get there--for an additional cost of 110 rupees per kg.
* INDUSIND BANK: Has finalised a potential candidate to succeed Managing Director and Chief Executive Officer Romesh Sobti, and has sought approval from the Reserve Bank of India for the appointment.
* INTERGLOBE AVIATION: One of the Pratt and Whitney engines of an IndiGo A320neo plane, which was heading from Kolkata to Pune on Wednesday evening, stalled mid-air, forcing the pilot to return to the Kolkata airport, making it the fourth such incident involving PW engines at the low-cost carrier in a week.
* JAIPRAKASH POWER VENTURES: Board has approved conversion of the principal amount of Foreign Currency Convertible Bonds into equity shares of 10 rupees each at a conversion price of 12 rupees each and waiver of interest.
* JSW STEEL: Even as the company cut its capex guidance for FY20, the company is looking at bidding for a majority of the 20 iron ore mines in Odisha to secure raw material for its greenfield and brownfield projects.
* LUPIN: Is in advanced talks to sell its Japanese generics subsidiary Kyowa Pharmaceuticals for an enterprise value of $600 mln to a local player as it steps up efforts to significantly cut operations in the world's thirdlargest pharma market.
* MANPASAND BEVERAGES: Aims to submit its earnings for the year ended March, as well as for Apr-Jun to its board of directors by the first week of December.
* MANAPPURAM FINANCE: The board has approved raising up to 2.5 bln rupees through issuance of nonconvertible debentures.
* MARUTI SUZUKI INDIA: The company's hatchback WagonR and MPV Ertiga along with Hyundai's popular model Santro failed to successfully pass the crash test with full ratings, as per the latest results revealed by Global NCAP, the international vehicle safety accreditation body.
* PIRAMAL ENTERPRISES: South Africa's Sanlam Group is in talks with Ajay Piramal to acquire
an additional 8% in Shriram Capital, the principal holding company of the Shriram Group's financial services businesses at a valuation of 170-180 bln rupees.
* PRAKASH INDUSTRIES: The company has commissioned four new energy-efficient induction furnaces to expand the installed capacity in its steel melting shop.
* PRISM JOHNSON: Has acquired 1.48 mln shares, constituting 27% stake in Sunspring Solar, subsidiary of Cleantech Solar Energy (India), for 14.8 mln rupees.
* PUNJAB NATIONAL BANK: Has decided to cut its marginal cost of funds-based lending rates by 10 basis points across tenures, effective Friday.
* QUICK HEAL TECHNOLOGIES: The company will invest $300,000 in Israel-based cybersecurity startup L7 Defense.
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm has requested the government to "strongly rebuff...suggestions and insinuations" made by the Cellular Operators' Association of India to Cabinet Secretary Rajiv Gauba.
* SANOFI INDIA: In a landmark development, global biopharmaceutical company Sanofi will lower the price of Rifapentine, a critically important drug used to prevent tuberculosis, as part of the agreement with Unitaid, the Global Fund to Fight AIDS, Tuberculosis and Malaria.
* SHREE RENUKA SUGARS: The board, on Nov 10, will consider merger of subsidiary Gokak Sugars Ltd with the company, along with Jul-Sep results.
* SRF: Commissioned a unit to manufacture agrochemical intermediates.
* SURYA ROSHNI: Has bagged an order worth 1.23 bln rupees from OIL AND NATURAL GAS CORP to supply 3-layer polyethylene coated electric resistance welded line pipes.
* VEDANTA: Has hiked the prices of its aluminium ingots by more than 1% with effect from Wednesday.
* VODAFONE IDEA: The UK's Vodafone Group has dismissed reports claiming it plans to exit India, saying it is engaging with the government following the Supreme Court order that left it facing statutory dues worth over 390 bln rupees and that it is fully supportive of the local team managing its joint venture with the Aditya Birla Group.
* YES BANK: Government Pension Fund Global bought 0.52% stake or 13.50 mln shares of the bank at 73.42 rupees apiece in a bulk deal on National Stock Exchange.
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