Today's Stock News - 01.01.2020 : 09.00 Am
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* ADANI GREEN ENERGY: The company's stepdown subsidiary Adani Renewable Energy has
commissioned 75 MW wind power project having power purchase agreement with Maharashtra State
Electricity Distribution Co at 2.85 rupees per kWh for a period of 25 years.
* ASTER DM HEALTHCARE: The company's arm Aster DM Healthcare FZC has entered into a share purchase agreement on Monday to acquire 100% stake in Abu Dhabi-based Wahat AI Aman Home Healthcare LLC.
* AURIONPRO SOLUTIONS: The company's wholly-owned subsidiary Aurionpro Solutions Pte has acquired 51% stake in SC Soft.
* AVENUE SUPERMARTS: D-Mart founder Radhakishan Damani has bought an 8.8-acre land parcel close to the Sanjay Gandhi National Park in Mumbai's Borivali suburb from CCI Projects for over 5 bln rupees.
* BAJAJ ELECTRICALS: The board will meet on Jan 6 to consider raising funds by issue of shares,
convertible securities or any other securities, including, through a rights issue, preferential issue and/or qualified institutions placement.
* CORPORATION BANK: Accepted buyback offer of wholly-owned subsidiary, CorpBank Securities, to the extent of 25% of its total paid-up share capital as on Sep 30.
* CREDITACESS GRAMEEN: The company has sold loan worth 4.3 bln rupees under direct assignment transaction.
* ICICI PRUDENTIAL LIFE INSURANCE CO: The company sold 2% stake in JAGRAN PRAKASHAN on Monday.
* J KUMAR INFRAPROJECTS: Shapoorji Pallonji and the company have been entrusted with the
responsibility to build eight metro stations for Pune Metro.
* JSW STEEL: The company has acquired 100% stake in Vardhaman Industries as a part of the corporate insolvency resolution process.
* LAKSHMI VILAS BANK: S. Sundar has resigned as chief financial officer of the bank.
* MAHANAGAR TELEPHONE NIGAM: Two casual labourers were killed after entering an eight-feetdeep duct of the company in Goregaon, Mumbai, to place their work tools.
* NHPC: On the superannuation of company's Chairman and Managing Director Balraj Joshi, the Ministry of Power has given the additional charge of the post to Ratish Kumar, Director (Projects) with effect from Jan 1 till Mar 31, or till the date of appointment of a regular incumbent to the post or until further orders, whichever event occurs at the earliest.
* NTPC: The company and ADANI POWER are in race to buy a 1,260-MW thermal power plant of Gautam Thapar's Avantha Group, a stressed project undergoing resolution as per the Insolvency and Bankruptcy Code.
* ORCHID PHARMA: The National Company Law Tribunal has dissolved Orchid Healthcare, promoter of the company, as it does not have any assets and a liquidation process under the Corporate Insolvency Resolution Process would only entail additional cash outflow without benefits.
* ORIENT CEMENT: Spring Fields got order worth 8.17 mln rupees from the company.
* PENINSULA LAND: The company has entered into a debt-asset swap arrangement with Housing
Development Finance Corp, against encumbrance over the building known as Peninsula Spenta, Mumbai on Monday.
* PREMIER EXPLOSIVES: The company has received a rate contract for the supply of bulk loading
explosives from Jaiprakash Power Ventures for 154.4 mln rupees.
* PTC INDIA: Has won the bid for procurement and supply of 2,500 MW power on a medium-term basis for three years.
* PUNJAB NATIONAL BANK: Cuts its marginal cost of funds-based lending rate by 5-30 basis points across tenures, effective today.
* RELIANCE INDUSTRIES: Any action following the income tax department's inquiry into the alleged tax evasion by family members of the Chairman Mukesh Ambani on account of foreign income and assets will depend on the relevance of the information received from other countries.
* RELIGARE ENTERPRISES: The company and TCG Advisory Services have mutually agreed and
extended their long stop date to Mar 3 from Dec 31 for the sale of Religare Finvest and Religare Housing Development Finance Corp.
* STATE BANK OF INDIA: Plans to float a distressed asset fund in the new year and will be roping in a global partner to raise money from international investors.
* STERLING AND WILSON SOLAR: Promoters have repaid dues of 10 bln rupees to the company.
* SUNTECK REALTY: The Securities and Exchange Board of India has levied a fine of 144 mln rupees on seven entities for fraudulently trading in shares of the company. The fine is twice the gains of 72.4 mln rupees that these entities made through these transactions.
* TATA CONSULTANCY SERVICES: Tata Sons will move the Supreme Court to seek early interim relief from the tribunal order reinstating Cyrus Mistry, ahead of the board meeting of the company scheduled for Jan 9 to consider Oct-Dec results.
* TATA MOTORS: Managing Director Guenter Butschek expects the company to turn around in 2020-21 (Apr-Mar) after underperforming the market this year, as he bets on a leaner cost structure, a pipeline of over a dozen products and the economy where he predicts activity to pick up.
* TITAN CO: CRISIL has upgraded its rating on the long-term bank facility of the company to AAA from AA+ as it believes that company will continue to improve over the medium term on account of dominant market position in jewellery retail segment, aided by healthy store additions and strong financial profile.
* TOURISM FINANCE CORP OF INDIA: The Indiaman Fund Mauritius brought 3.08% stake or 2.4 mln shares in the company at 72.75 rupees per share in a bulk deal on the National Stock Exchange.
* VEDANTA: Plans to spend a significant portion of its planned expenditure of $1.1 bln in 2020 to ramp up crude oil production at its Barmer oil plant, Chairman Anil Agarwal said.
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