Today's Stock News - 21.11.2019: 09.00 Am
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* ALLCARGO LOGISTICS: ECU Worldwide, the European subsidiary of the company, has acquired majority stakes in Hong Kong-based PAK DA (HK) Logistics and Singapore-based Spechem Supply Chain Management.
* APOLLO TYRES: Will cut 2019-20 (Apr-Mar) and 2020-21 (Apr-Mar) capital expenditure by 6 bln rupees on poor demand from original equipment manufacturers.
* BANK OF BARODA: The Reserve Bank of India has imposed a penalty of 25 mln rupees for noncompliance with directions issued on collection of account payee cheques, reporting of frauds, opening of savings accounts, preservation of records of identification of customers, and know-your-customer and antimoney laundering norms.
* BHARAT PETROLEUM CORP: The Cabinet Committee on Economic Affairs in-principle approved strategic disinvestment in three public sector undertakings--the company, CONTAINER CORP OF INDIA, and SHIPPING CORP OF INDIA , Finance Minister Nirmala Sitharaman said.
* CG POWER AND INDUSTRIAL SOLUTIONS: The management of the company considers any further association with its promoters as prejudicial to the company, the chairman said in a letter to shareholders. The company will hold its annual general meeting on Dec 14.
* COFFEE DAY ENTERPRISES: IDBI Trusteeship Services has invoked a pledge on 8.89 mln shares or 4.20% stake in the company on Tuesday.
* DEWAN HOUSING FINANCE CORP: The Uttar Pradesh Power Corp, along with Air Force GroupInsurance Society, have moved Bombay High Court against the company for recovery of dues.
-The Reserve Bank of India on Wednesday superseded the board of directors of the company, owing to governance concerns and defaults by the company in meeting various payment obligations.
* DILIP BUILDCON: The company's hybrid annuity project in Maharashtra, involving four-laning of the Wardha-Butibori section of National Highway-361 has received a provisional completion certificate.
* GREAT EASTERN SHIPPING CO: Has signed a contract to sell its "2000 built Suezmax crude carrier Jag Lakshita" of around 147,092 dwt.
* INDIAN BANK: RBI fined 7.5 mln rupees for non-adherence with norms on opening of savings accounts and know-your-customer/ anti-money laundering norms.
* INFOSYS: Has complied with rules of markets regulator and its internal guidelines, on a whistleblower complaint, it said, adding fresh media reports were creating a mistaken impression.
* INGERSOLL RAND (INDIA): Promoter Ingersoll Rand Co, US, has sold their entire 74% stake or 23.36 mln shares of the company to Ingersoll-Rand Industrial US Inc at 621.3 rupees per share through a bulk deal on National Stock Exchange.
* INTELLECT DESIGN ARENA: Has received an order from Philippines Business Bank to implement a digital core solution, Intellect Digital Core 19.1.
* JK CEMENT: Promoter Yadu International will acquire 635,000 shares of Sushila Devi Singhania, a promoter group person, through a block deal.
* MAHINDRA LIFESPACE DEVELOPERS: Mahindra Happinest--the low-cost housing business joint venture of the company and HDFC Capital--is offering 1- and 2-BHK apartments in the range of 2.99 to 5.57 mln rupees at its Kalyan project.
* NEW DELHI TELEVISION: The Securities Appellate Tribunal has extended the interim stay on the SEBI order which bars promoters of the company--Prannoy Roy and Radhika Roy--from the securities markets for two years.
* NMDC: On Wednesday confirmed it cut prices of its iron ore products by 100 rupees a tn.
* NTPC: The Cabinet Committee on Economic Affairs on Wednesday in-principle approved sale of the government's stake in THDC India and North Eastern Electric Power Corp, or NEEPCO, to the company, Finance Minister Nirmala Sitharaman said.
* OIL & NATURAL GAS CORP: Plans to raise at least $500 mln in a dollar bond sale as soon as next week to refinance part of its debt through cheaper funds.
* OIL INDIA: Commenced exploration activities in block RJ-ONHP-2017/9 in Rajasthan that the company had won in the first round of Open Acreage License Policy.
* PIRAMAL ENTERPRISES: Has offered to repay 15 bln rupees debt to Standard Chartered Plc
early after getting a waiver on a covenant.
* PRABHAT DAIRY: The board has approved raising up to 2 bln rupees through issue of non-convertible debentures on private placement basis for working capital needs of the company.
* PRIME FOCUS: Singapore-based Augusta Investments I Pte has bought 29.2 mln shares or 9.8% stake in the company at 48.50 rupees apiece from Standard Chartered Private Equity (Mauritius) through a bulk deal on BSE.
* RELIANCE CAPITAL: The Delhi High Court has restrained the company from selling 4.3% stake in RELIANCE NIPPON LIFE ASSET MANAGEMENT till Dec 16, the next date of hearing.
* RELIANCE COMMUNICATIONS: The company has appointed Viswanath Devaraja Rao as its executive director and chief financial officer.
* RELIANCE INDUSTRIES: The National Company Law Appellate Tribunal has allowed the company to delist ALOK INDUSTRIES, which it has acquired through insolvency process.
* RUCHI SOYA INDUSTRIES: The National Company Law Appellate Tribunal has rejected DBS Bank's petition, challenging distribution among lenders of the bid amount made by Patanjali Ayurved for the company. The National Company Law Appellate Tribunal has extended till Dec 16 the deadline for completion of Patanjali Ayurved's 43.50 bln rupees resolution plan to the company.
* SINTEX PLASTICS TECHNOLOGY: Vistra ITCL (India) invoked a pledge on 17.5 mln shares or 2.77% stake in the company on Tuesday.
* STATE BANK OF INDIA: on Wednesday raised 38.14 bln rupees through the issuance of additional tier-I bonds at a coupon of 8.50%.
* SUN TV NETWORK: Expects subscription to its over-the-top (delivery of content directly over the internet) platform, Sun NXT, to reach 20 mln in the next couple of months.
* TATA MOTORS: Has raised $300 mln by issuing senior notes maturing on May 20, 2025.
Moody's Investors Service has assigned B1 rating on Jaguar Land Rover Automotive Plc's new senior
unsecured notes worth 500 mln euros (approximately 39.7 bln rupees) due in 2024.
* UNION BANK OF INDIA: The divergence in gross bad loans reported by the bank on Wednesday and assessed by the Reserve Bank of India was at 5.9 bln rupees at the end of March.
* ZEE ENTERTAINMENT ENTERPRISES: Essel Group, the promoter of the company, will sell 16.5% stake in the company through block deals to a group of financial investors.
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