Today's Stock News - 29.11.2019: 09.00 Am
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* ADANI GAS: The Competition Commission of India has allowed Total Holdings SAS, a wholly-owned subsidiary of French oil and gas major Total SA, to acquire 37.40% stake in the company.
* AUROBINDO PHARMA: Step-down subsidiary Auro Vaccines LLC will acquire research and
development assets from Profectus BioSciences Inc, US, for an upfront payment of $11.29 mln and earnouts upon achieving certain milestones.
* BANK OF BARODA: Edelweiss Housing Finance, a subsidiary of EDELWEISS FINANCIAL
SERVICES, and the bank have entered into an agreement for co-lending of home loans to self-employed and salaried individuals.
* BHARAT PETROLEUM CORP: Workers of the company are on a one-day strike. The strike, which started Thursday morning, will continue till this morning, it said.
- The Cabinet Committee on Economic Affairs is understood to have given its nod for additional
investment of $2.67 bln by Bharat Petro Resources, a wholly-owned subsidiary of the company, for a LNG project in Mozambique.
* CANARA BANK: SEBI has exempted the government from making an open offer to shareholders of the bank and UNION BANK OF INDIA.
* CG POWER AND INDUSTRIAL SOLUTIONS: Cancelled its royalty pact signed on Feb 13
with Avantha Holdings Ltd for using the Avantha brand.
- The board has directed the board of its Belgium business--CG Power Sytems Belgium NV--to take
protective measures to prevent it from possible bankruptcy and liquidation as it suffered from paucity of funds and closure of bank accounts.
* DEWAN HOUSING FINANCE CORP: The Bombay High Court has adjourned the hearing on the pleas filed by mutual funds against the company till Monday.
* EVEREST INDUSTRIES: HDFC Mutual Fund has sold 2.2% stake or 347,860 shares in the company at 274.98 rupees a share through a bulk deal on BSE.
* FORTIS HEALTHCARE: CARE RATINGS has withdrawn its "BBB-" and "A3" rating on the company's long-term bank facilities and short-term facilities, respectively, with credit watch with developing implications.
* FUTURE RETAIL: The Competition Commission of India has approved the acquisition of 49% stake by Amazon.com NV Investment Holdings LLC in Future Coupons, one of the promoter entities of the company.
* HATSUN AGRO PRODUCT: Jwalamukhi Investment Holdings, an investment arm of private equity firm Westbridge Capital, has sold 1.35 mln shares or 0.9% stake in the company at 587.03 rupees apiece on the National Stock Exchange.
* HDFC BANK: The board of directors of the bank has constituted a committee to identify a successor to Managing Director Aditya Puri, whose tenure ends on Oct 26.
- The bank's unsecured loan portfolio has crossed 1 trln rupees, which is nearly 14% of the bank's
advances portfolio.
* HINDALCO INDUSTRIES: Hiked the prices of its aluminium ingots, wire rods and billets by more than 1% with effect from Thursday.
* HINDUJA GLOBAL SOLUTIONS: Entered into a definitive agreement for sale of its domestic customer relationship management business to Altruist India Pvt Ltd for 400 mln rupees through a slump sale.
* ICICI SECURITIES: Had paid 2.87 mln rupees to the SEBI as settlement for a case relating to two trading accounts, which were opened with the company.
* IL&FS ENGINEERING AND CONSTRUCTION CO: The Arbitration Tribunal has awarded the
company's subsidiary Bangalore Elevated Tollway Pvt Ltd 4.92 bln rupees for its claim against National Highways Authority of India.
* IL&FS TRANSPORTATION NETWORKS: Board has approved the incorporation of a new
subsidiary. The subsidiary company will act as the sponsor of the Infrastructure Investment Trust that the company plans to set up.
* INDIABULLS HOUSING FINANCE: The Ministry of Corporate Affairs has told the Delhi High Court that loans disbursed by the company to Amricorp, Anil Dhirubhai Ambani Group, and DLF have been repaid.
- Deutsche Bank AG plans to approach SEBI and RBI challenging Bajaj Allianz Life Insurance Co's
decision to annul the sale of the company's bonds worth 2.10 bln rupees to the German lender.
* INFOSYS: Launched Infosys Governance Risk & Compliance Digital Suite to provide chatbot interface for the first line of users.
* JAYPEE INFRATECH: Lenders have asked its top suitors NBCC (INDIA) and Suraksha Realty to make a final offer by Tuesday after revising their earlier bids by removing impediments and making it more lucrative for homebuyers as well as banks.
* JET AIRWAYS (INDIA): Probe agencies investigating the books of the company suspect that entities related to its founder Naresh Goyal and his associates used thousands of bogus bills to launder around 80 bln rupees from the defunct airline into tax havens.
* KOHINOOR FOODS: The company has been declared a wilful defaulter by ORIENTAL BANK OF COMMERCE, as per guidelines issued by the Reserve Bank of India.
* LEMON TREE HOTEL: The company has opened a 101-room 'Red Fox Hotel' at Vijayawada, Andhra Pradesh.
* MAHINDRA & MAHINDRA: The US International Trade Commission said that the company's Roxor vehicle violates Fiat Chrysler Automobile US's trade dress, which are the visual touches that give a copyrighted product its unique appearance.
* NATIONAL ALUMINIUM CO: Has increased the prices of aluminium ingots by nearly 1%, effective Tuesday.
* OIL & NATURAL GAS CORP: Raised $300 mln through medium-term notes maturing on Dec 5, 2029. The notes carry a coupon of 3.375% per annum, payable semi-annually.
* POWER GRID CORP OF INDIA: Even as the government has issued notices to non-telecom public sector undertakings having some form of telecom licence to pay up their adjusted gross revenue dues, firms such as GAIL (INDIA) and the company have stated that they don't owe anything.
* PROCTER GAMBLE HYGIENE & HEALTH CARE: Procter & Gamble India has said it will invest 2 bln rupees to create an environmental sustainability fund, which will be used to partner companies providing sustainable solutions.
* RELIANCE INFRASTRUCTURE: KBC Equity Fund has sold 1.1% stake or 2.9 mln shares in the
company at 26.94 rupees a share through a bulk deal on the National Stock Exchange.
* TATA POWER CO: Wants to sell stake in its renewable energy portfolio to global investors, said Chief Executive Praveer Sinha.
* TATA STEEL: Tata Steel Europe has begun talks with its workers on a "transformation programme" that involves up to 3,000 job cuts, prompting an angry response from union leaders who said the plan needed to be revised.
* VEDANTA: Hiked prices of aluminium ingots by more than 1% with effect from Thursday. The company has hiked prices after cutting them twice in a row.
* ZEE ENTERTAINMENT ENTERPRISES: Exchanges have asked the company to submit copies of
resignation letters of all the three resigning directors.
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