Today's Stock News - 19.11.2019: 09.00 Am
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* CG POWER AND INDUSTRIAL SOLUTIONS: India Ratings and Research has downgraded the
company's long-term issuer rating to "D" from "B". The outlook was negative.
* BHARTI AIRTEL: It will raise its mobile price offerings from December.
* DB REALTY: PRESTIGE ESTATES PROJECTS's wholly-owned subsidiary Prestige Falcon Realty Ventures has acquired 132,854 shares, representing 28.99% stake, in the company's joint venture DB (BKC) Realtors from Trinity Capital (Ten).
* DR REDDY'S LABORATORIES: Said report that the company buying WOCKHARDT's operations was "purely speculative".
* HINDALCO INDUSTRIES: Has cut prices of its aluminium ingots, billets and wire rods by nearly 2% with effect from Thursday.
* ICICI BANK: Plans to raise at least 200 bln capital boost through qualified institutional placement.
* INDIAN OVERSEAS BANK: The committee of directors will meet on Nov 28 to issue and allot equity shares to the government on a preferential basis in lieu of the capital infusion of 38.57 bln rupees received in September.
* JET AIRWAYS (INDIA): The National Company Law Tribunal on Monday asked the resolution
professional of the company to work towards bringing Synergy Group, the potential bidder for the airline, to appear before the bench.
* JUBILANT LIFE SCIENCES: Promoter Jubilant Stock Holding sold 0.72% stake or 1.16 mln shares in the company at 493 rupees apiece through a bulk deal on the BSE.
* MARUTI SUZUKI INDIA: Has increased prices of WagonR 1.0 ltr (petrol), all its variants that are fully Bharat Stage-VI compliant, effective Monday.
- A sudden surge in demand for its diesel models compelled the maker of the Vitara Brezza and Dzire
to ramp up production of some variants that it plans to phase out before the new emission standards come into effect in April.
* OIL AND NATURAL GAS CORP: May produce as much as 20% less natural gas than its original estimate from its largest block in the Krishna Godavari basin because of higher reservoir complexity and execution challenges.
* ORIENTAL BANK OF COMMERCE: Sold 200,000 shares, 0.56% stake, in SUPREME HOLDINGS & HOSPITALITY (INDIA) at 6.79 rupees per share through a bulk deal on the BSE.
* PIDILITE INDUSTRIES: The board has appointed Pradip Menon as chief financial officer of the company with immediate effect.
* SBI LIFE INSURANCE: Private equity firm Carlyle Group today will sell 3% stake in the company at 930- 940 rupees a share via block deal route.
* SHREE CEMENT: Is at an advanced stage of raising more than 20 bln rupees through a qualified
institutional placement offering.
* SPICEJET: Is in talks with Boeing Co to buy more 737 Max aircraft to feed its expansion plans, a deal that could mark a Dubai Airshow coup for the grounded narrow-body.
* TATA CONSULTANCY SERVICES: Has launched a new Microsoft Business Unit. The unit will use its trademark Business 4.0 technology to support businesses.
- The weakness in closing deals in the retail segment in October as compared with the September
quarter, especially for product-led deals, could be an incremental headwind for the company in the December quarter.
* TATA STEEL: Plans to cut up to 3,000 jobs across Europe operations.
* VEDANTA: Has cut the prices of its aluminium ingots by more than 1% with effect from Saturday.
* VODAFONE IDEA: Will increase tariff prices from Dec 1. However, the telecom operator did not give any detail of the increase in the mobile service rates.
* WIPRO: The demand from the banking, financial services and insurance vertical is "soft" because of weak spending by European banking and capital market clients.
* YES BANK: The bank has acquired 949,930 shares, or 20.61% stake, in Tulip Star Hotels, post invocation of pledge of shares.
* ZEE LEARN: EuroKids, a leading playschool chain controlled by US private equity firm KKR, is in preliminary talks to acquire preschool chain Kidzee from the company for 10–12 bln rupees.
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