Today's Stock News - 18.11.2019: 09.00 Am
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* ADANI TRANSMISSION: Will raise $500 mln by issuing senior secured notes maturing on May 21, 2036.
* BHARAT PETROLEUM CORP: The government hopes to complete strategic sale in state-owned Air India and the company in the current financial year ending March, Finance Minister Nirmala Sitharaman has said.
* BHARTI AIRTEL: Plans to raise up to 210 bln rupees from banks, mostly to pay off dues to the Department of Telecommunications after the Supreme Court upheld the government's definition of adjusted gross revenue.
-Has withdrawn its bid to purchase assets of RELIANCE COMMUNICATIONS after terming the
move to extend the submission deadline requested by Reliance Jio as "unfair" and "biased".
* BOMBAY BURMAH TRADING CORP: Dibakar Chatterjee, chief executive officer of the company, has resigned effective Nov 23.
* BRITANNIA INDUSTRIES: Slowdown in demand has forced the company to cut its capital expenditure and defer new launches, even though it expects the economy to recover soon because of the government's measures.
* CADILA HEALTH: The company has received tentative approval from the US Food & Drug
Administration to market Apremilast tablet, a generic of Otezla.
* COFFEE DAY ENTERPRISES: The Registrar of Companies has granted the company a 30-day extension for holding its annual general meeting for 2018-19 (Apr-Mar).
* DEEP INDUSTRIES: Antara India Evergreen Fund bought 0.7% stake or 234,250 shares in the company at 108.94 rupees per share via bulk deal on the National Stock Exchange.
* DEWAN HOUSING FINANCE CORP: The company's debt recovery process has hit an unexpected hurdle with scores of collection agents quitting in the wake of the crisis at the mortgage lender, the latest in a string of setbacks that is likely to jeopardise a speedy debt resolution.
* ERIS LIFESCIENCES: Nomura Singapore bought 0.7% stake or 950,000 mln shares in the company at 410 rupees through a bulk deal on the BSE.
* FEDERAL BANK: Has kept its marginal cost of funds-based lending rates unchanged across tenures in the 8.45-8.90% range.
* GAIL INDIA: Essar Steel, Adani Group and the company have bought majority of natural gas from
RELIANCE INDUSTRIES' newer fields in the KG-D6 block at an indicative price of $5.04-$5.16 per unit.
* HINDUJA GLOBAL: Hinduja Global Solutions' UK-based subsidiary has acquired an additional 14.33% stake in US-based Element Solutions LLC for about $1.61 mln.
* JET AIRWAYS (INDIA): The consortium of lenders to the company has ordered a second forensic audit into the airline's financials to trace the money trail associated with some of its dealings.
-South America-based Synergy Group has sought time till February to submit its resolution plan for the company, dashing hopes of an early revival. The airline's lenders will meet next week to consider the request
* GAYATRI PROJECTS: The board will meet on Saturday to consider disposal of shares held by subsidiary Gayatri Energy Ventures in Sembcorp Energy India.
* GOA CARBON: Operations at the company's facility in Salcete, Goa, will resume on Sunday.
* HCL INFOSYSTEMS: Arm HCL Learning has completed sale of its entire stake in Singapore-based wholly-owned subsidiary HCL Insys, to Hong Kong-based PCCW Solutions, for S$57.63 mln (around 3.04 bln rupees).
* HT MEDIA: The company has acquired the balance 34.18 mln shares or 45.13% stake in Next Radio.
* INGERSOLL RAND INDIA: Promoter Ingersoll Rand Co, US, will transfer its entire 74% stake in the company to Ingersoll-Rand Industrial US Inc through a block deal on Wednesday.
* KOTAK MAHINDRA BANK: Has cut its marginal cost of funds-based lending rate by 5-10 basis points across tenures from Saturday.
* L&T FINANCE HOLDINGS: The company has entered into an agreement to sell L&T Capital Markets (Middle East), a wholly-owned subsidiary, to Proud Securities and Credits for 180.3 mln rupees.
* MAHINDRA & MAHINDRA: Trying to react faster to competition and roll out new products quicker as its peers are chipping away at its market share in its bread-and-butter segment, the utility vehicle.
* MCLEOD RUSSEL INDIA: Edgbaston Asian Equity Trust has sold 3.71 mln shares or 3.5% stake in the company via a bulk deal on National Stock Exchange at 7.23 rupees per share.
* MUTHOOT FINANCE: In advanced stages of acquiring IDBI Asset Management, the mutual fund unit of Life Insurance Corp of India (LIC)-owned IDBI BANK.
* NBCC INDIA: Has revised its bid to acquire bankruptcy-bound JAYPEE INFRATECH by offering lenders 1,426-acre land instead of 950 acres earlier, and also providing half of 3,000 benami flats to them.
* NHPC: Has hired consultants to look into the issue of monetising its assets through infrastructure investment trusts, the company's Chairman and Managing Director Balraj Joshi said.
* PUNJAB & SIND BANK: Has cut its one-month, six-month, and one-year marginal cost of funds-based lending rates by 5 basis points each from Saturday.
* RELIANCE COMMUNICATIONS: Reliance Group Chairman Anil D. Ambani has resigned as director of Reliance Communications, effective Friday.
* RELIANCE INDUSTRIES: The Securities and Exchange Board of India has denied the company's waiver to de-list the shares of ALOK INDUSTRIES, the bankrupt textile firm that it bought in a 50.5 bln rupees deal in March.
* STATE BANK OF INDIA: Chairman Rajnish Kumar has said the Supreme Court's judgment in the Essar Steel case is expected to lead to faster resolution of stressed assets under the insolvency law.
The bank and the finance ministry are exploring a legal framework where the proposed alternative investment fund for reviving stalled real estate projects will have the first charge on assets and cash flow of entities receiving funding.
* TATA STEEL: NatSteel Holdings, a step-down subsidiary of the company, has sold its entire 56.5% stake in NatSteel Vina Co for 360 mln rupees to Vietnam-based Thai Hung Trading Joint Stock Co.
* UNICHEM LABORATORIES: The company has received the US Food and Drug Administration's approval to market buspirone hydrochloride tablets USP, in 5-mg, 10-mg, 15-mg and 30-mg strengths.
* VODAFONE IDEA: Vodafone Idea's top management has cautioned lenders that timely repayments may not be possible without urgent relief from the government if the telecom department decides to invoke bank guarantees to recover dues in the next three months.
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