Today's Stock News - 28.11.2019: 09.00 Am
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* ASHOK LEYLAND: Signed a two-year memorandum of understanding with AXIS BANK to offer
customised financial solutions to customers across India.
* AUTOLINE INDUSTRIES: The company has entered an agreement with Pune-based Kinetic Green Energy and Power Solutions for joint development and marketing of electric bicycles.
* BAJAJ ELETRICALS: HDFC Mutual Fund on Tuesday acquired 2.06 mln shares or 2% stake in the company through the open market.
* BHARTI AIRTEL: Has appealed to the Supreme Court to allow the company and the government to agree on the quantum of adjusted gross revenue-based dues that need to be paid and the timeline for the payments.
* BSE LTD: The board of the company has approved sale of 4,180,000 shares amounting to 4% stake in CENTRAL DEPOSITORY SERVICES (INDIA) via offer for sale.
* CEAT: Has signed an agreement to buy 26% stake in Greenzest Solar.
* CIPLA: The company's subsidiary Cipla (EU), holding 60% stake in Cipla Pharma Lanka, will acquire the remaining 40% stake in its Sri Lankan subsidiary from Citi Health Imports for 400,000 Sri Lankan rupees (around 157,899 rupees).
* CG POWER AND INDUSTRIAL SOLUTIONS: Lenders to the company have appointed Belgiumheadquartered auditing firm BDO to track the daily fund flows of the company and the transactions made by its management, sources said.
* ELDECO HOUSING AND INDUSTRIES: The company has entered into a share purchase agreement to acquire 17% of the total equity capital of Omni Farms.
* HINDUSTHAN URBAN INFRASTRUCTURE: The board has approved acquisition of the chemical business undertaking by the material subsidiary Hindusthan Speciality Chemicals from Hindusthan Engineering & Industries on a going concern basis.
* ICICI BANK: Is likely to file a consent plea to settle a case with SEBI on the alleged violation of listing disclosure norms involving its former chief executive officer and managing director Chanda Kochhar and Videocon group.
* IIFL SECURITIES: Hong Kong-based WF Asian Reconnaissance Fund has sold its entire 2.98% stake or 9.5 mln shares of the company at 24 rupees apiece through a bulk deal on the BSE.
* INDIAN OVERSEAS BANK: The Reserve Bank of India has imposed a penalty of 330,000 rupees on the bank. Bhuwan Chandra will take charge as the company's chief financial officer from Sunday.
* JET AIRWAYS (INDIA): The committee of creditors passed a resolution to extend the last date of
submission of resolution plan to Dec 16.
* LEMON TREE HOTELS: RJ Corp sold 11 mln shares or 1.4% stake in the company at 60.01 rupees per share through a bulk deal on the BSE.
* MAHANAGAR TELEPHONE NIGAM: The government has decided to allot fourth generation spectrum to state-owned Bharat Sanchar Nigam and the company at administered prices, in line with prices discovered in the 2016 spectrum auction, after taking legal opinion and "considering all aspects", said Telecom Minister Ravi Shankar Prasad.
* MAHINDRA & MAHINDRA: Has charted out an aggressive product launch plan of a dozen models in the coming three-four years, as it seeks to arrest the slide in its share in an intensely competitive utility vehicle market.
* PVR: Has tied up with global movie streaming service Mubi, to be a part of the growth in the Indian overthe- top market. The partnership will allow Mubi subscribers in India get a free ticket to watch a movie releasing at PVR cinemas every week.
* RBL BANK: The board will meet on Saturday to consider raising funds through issue of shares on a preferential basis.
* RELIANCE INDUSTRIES: Has invested 100,000 rupees in wholly-owned subsidiary Jio Platforms.
* RELIANCE INFRASTRUCTURE: KBC Equity Fund has sold 0.9% stake or 2.2 mln shares in the
company at 27.86 rupees per share through a bulk deal on the National Stock Exchange.
* SHIVA CEMENT: The board has approved expansion plan for setting up of 3,000 tn per day clinker unit along with 1 mtpa grinding unit.
* TATA COMMUNICATIONS: Has received order from Kacific Broadband Satellites Group for digital services.
* TATA MOTORS: Rolled out the first unit of its hatchback Altroz on Wednesday, scheduled for
commercial launch in January, from the Pune plant. Is working on a voluntary retirement scheme for more than 1,600 people.
* TILAKNAGAR INDUSTRIES: The company will pay 1.02 bln rupees as one-time settlement of the total 2.87 bln rupees to STATE BANK OF INDIA as the loan account of the company had been classified as nonperforming asset by the bank.
* TVS MOTOR CO: Launched Bharat Stage-VI emission norm-compliant Jupiter Classic scooter at an exshowroom price of 67,911 rupees.
* ZEE ENTERTAINMENT ENTERPRISES: Subodh Kumar and Neharika Vohra, who resigned as the company's directors on Monday, said they had done so because of inaction by the company's management on several issues they raised.
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