Today's Stock News - 0.11.2019: 09.00 Am
KEEP REFRESH FOR NEXT UPDATE
* ADANI TRANSMISSION: Board will meet on Thursday to consider raising funds through foreign currency bonds, which may be issued in one or more tranches in India or overseas. It will also consider a buyback of non-convertible debentures and masala bonds.
* ARTSON ENGINEERING: Has received a letter of award for 240 mln rupees from VEDANTA for
construction of crude oil and storage tanks.
* ASHOK LEYLAND: Has introduced Bharat Stage-VI emission norms-complaint heavy-duty trucks.
* BAJAJ FINANCE: Launched a qualified institutional placement and set a floor price of 4,019.78 rupee per share.
* BHARTI AIRTEL: Has launched its new prepaid pack bundled with an insurance cover in Delhi and National Capital Region.
* CENTRAL BANK OF INDIA: Intends to raise up to 10 bln rupees in equity capital through qualified institutional placement in the fourth quarter of the current financial year.
* CG POWER AND INDUSTRIAL SOLUTIONS: L&T FINANCE HOLDINGS bought 10% stake or 62.6 mln shares in the company at 13.97 rupees per share through a bulk deal on BSE.
* CORPORATION BANK: Plans to raise at least 5 bln rupees through issuance of Basel III-compliant tier-II bonds maturing in 10 years, and has invited bids on Thursday.
* COX & KINGS: Letko Brosseau Emerging Markets Equity Fund sold 2.2 mln shares or 1.26% stake in the company at 1.49 rupees apiece on the BSE.
* INDIAN OIL CORP: Is evaluating the option of throwing its hat in the ring and taking over the entire government stake in BHARAT PETROLEUM CORP, which tops strategic disinvestment list firmed up for the current fiscal.
* IL&FS TRANSPORTATION NETWORKS: Has defaulted on interest payment of 22.94 mln rupees on nonconvertible debentures due on Monday.
* JET AIRWAYS (INDIA): Indian skies have regained their lost capacity, a little over six months after the company was grounded.
* JINDAL STEEL AND POWER: Can save at least 5 bln rupees on coal procurement cost each year if it manages to win the Gare Palma IV/1 coal block, brokerage firm Edelweiss Securities said.
* KARUR VYSYA BANK: Will increase its one-month marginal cost of fund-based lending rate by 10 basis points to 8.45% from Thursday.
* LUPIN: Responding to the news report stating that the company is looking to sell its Japanese arm Kyowa for $600 mln, the company said it regularly evaluates various strategic business opportunities, plans and proposals.
* MAHANAGAR TELEPHONE NIGAM: The sale of assets by Bharat Sanchar Nigam and the company is likely to take longer than expected as their buildings registered before 1988 are owned by the Department of Telecommunications.
- Some vendors of Bharat Sanchar Nigam and the company are mulling insolvency pleas against the
state-run companies for non-payment of dues, estimated to be around 200 bln rupees.
* MAHINDRA & MAHINDRA: Has offered proactive inspection and replacement of suspension component, on a limited batch of XUV300 vehicles manufactured till May 19.
* MANGALORE REFINERY & PETROCHEMICALS: Board has approved appointment of Pomila Jaspal as chief financial officer. The company will also raise up to 30 bln rupees through non-convertible debentures.
* MARUTI SUZUKI INDIA: Has resumed the second shift at its plant in Gurugram since early October, after around four months, following a pick up in demand this festive season.
* MOTHERSON SUMI SYSTEMS: Moody's Investors Service has changed the outlook on the Baa3 issuer rating of the company to negative from stable.
* PNB HOUSING FINANCE: Plans to raise 25 bln rupees through the issuance of separately transferable redeemable principal parts structured bonds maturing in 10 years.
* PRAKASH INDUSTRIES: Has started operations at its Sirkagutu iron and manganese ore mine in Keonjhar, Odisha.
* QUESS CORP: Krishna Suraj Moraje has joined the company as executive director and group chief
executive officer.
* RAYMOND: Board will meet on Thursday to consider raising funds by way of issue of one or more instruments including shares, preference shares, convertible securities of any description or warrants or debt securities, through preferential issue, private placement, rights issue or any other methods.
* SHIVA CEMENT: Has been selected as the preferred bidder for grant of mining lease issued by the
government of Odisha for limestone, graphite and chromite minerals.
* SICAL LOGISTICS: RBL BANK has invoked pledge on 165,000 shares held by the company in arm Sical Logixpress.
* SMS LIFESCIENCES INDIA: Will be manufacturing Ranitidine HCL within permissible limits of Nnitrosodimethylamine in the drug as approved by US Food and Drug Administration.
* SOUTHERN PETROCHEMICAL INDUSTRIAL CORP: The company on Sunday resumed production of urea and ammonia at its plant in Tuticorin, Tamil Nadu, which is expected to return to its full capacity in a few days.
* SRF: Board has approved an investment of $50 mln for setting up a 45,000-tn per annum capacity biaxially oriented polypropylene film plant in Thailand by the company's wholly-owned arm SRF Industries (Thailand).
* SUN PHARMACEUTICAL INDUSTRIES: Subsidiary Taro Pharmaceutical Industries board has approved $300 mln share buyback.
* TATA POWER CO: Launched subsidiary TP Renewable Microgrid to set up 10,000 microgrids in rural areas through 2026.
* ULTRATECH CEMENT: GRASIM INDUSTRIES and the company have accused Harsh Vardhan Lodhacontrolled MP Birla Group of copyright infringement. In a suit filed in the Bombay High Court, the two companies said MP Birla Group has infringed on their copyright by using the word "ultra" in its cement brands.
* WELSPUN CORP: Goldman Sachs Asset Management has bought 3.69 mln shares or 1.38% stake in the company for 142.85 rupees a piece.
* YES BANK: Rakesh Radheyshyam Jhunjhunwala has bought 13 mln shares or 0.5% stake in the bank at 67.10 rupees apiece via a bulk deal on the BSE.
* ZEE ENTERTAINMENT ENTERPRISES: Responding to a media report, the company said its promoters have denied that their pledged stake has been transferred to an escrow account.
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