Today's Stock News - 15.11.2019: 09.00 Am
KEEP REFRESH FOR NEXT UPDATE
* ADANI ENTERPRISES: The Competition Commission of India has approved the acquisition of 23.5% stake in the Mumbai International Airport by Adani Properties.
* BAJAJ AUTO: Austria-based motorcycle manufacturer KTM AG may use the company's iconic 'Chetak' platform to make and market its first electric scooter in India.
* BAJAJ FINANCE: Has raised 3.85 bln rupees through two non-convertible debentures, one maturing on Nov 10, 2022, and the other on Dec 9, 2024.
* COFFEE DAY ENTERPRISES: Private equity firms KKR, TPG Capital and Bain Capital have signed nondisclosure agreements with the company, initiating discussions on buying a significant stake in the group's coffee business.
* CEREBRA INTEGRATED TECHNOLOGIES: Silver Stallion sold 2.3% stake or 2.8 mln shares in the company through a bulk deal on the National Stock Exchange at 19 rupees a share.
* CIPLA: The US Food & Drug Administration has issued a form-483 with four observations to the company's manufacturing facilities in Patalganga, Maharashtra, none of which were repeated or related to data integrity.
* DALMIA BHARAT: Subsidiaries, Dalmia Cement (Bharat) and Dalmia Refractories, have approved schemes of arrangement to consolidate their respective refractory businesses into a single operating entity named Dalmia OCL.
* DEWAN HOUSING FINANCE CORP: The Pune bench of the Debt Recovery Tribunal has stopped the company from making any further payments to any of its unsecured creditors, passing an order on an application filed by Catalyst Trustee, the custodian of the indebted home financier's bond holders.
* DR REDDYS LABORATORIES: Launched a nutrition drink for diabetics called 'Celevida' in India to help manage blood glucose levels.
* FORTIS HEALTHCARE: The Supreme Court on Thursday quashed the proceedings for eviction of the company's wholly-owned subsidiary Escort Heart Institute & Research Centre from its hospital premises at Okhla, Delhi.
* HINDUSTAN COPPER: The board of directors has approved increasing the borrowing limit of the company to 8.5 bln rupees from the current 6.5 bln rupees.
* IDFC: The board of directors has declared interim dividend of 0.65 rupee a share.
* INDIAN OIL CORP: The government plans to reduce its stake in the company to below 51% while ensuring that it and state-run companies retain control.
* INDIAN OVERSEAS BANK: The divergence in gross bad loans reported by the bank and that assessed by the central bank was 3.58 bln rupees as on Mar 31. While the Reserve Bank of India's assessment showed gross bad loans of 337.56 bln rupees, the bank had reported a figure of 333.98 bln rupees.
* INTERGLOBE AVIATION: Amid ongoing feud between the airline's promoters, Chief Executive Officer Ronojoy Dutta has said there is "zero impact" on the carrier right now as they are on the same page over the airline's strategic direction.
* JET AIRWAYS (INDIA): Jet Privilege, the loyalty rewards programme of the airline, has rebranded itself as InterMiles, dropping the name of its bankrupt parent that stopped flying in April due to want of funds. Total claims against the company stood at 360.91 bln rupees as on Oct 20. Of this, the resolution professional, Ashish Chhawccharia, has so far admitted claims worth 146.40 bln rupees.
* MAHINDRA & MAHINDRA: With its flagship auto business suffering heavily from the continuing slowdown, the Mahindra group is going slow on hiring, limiting its headcount addition to select niche segments such as data analytics and machine learning among others.
* MOIL: Will buy back up to 20.28 mln shares at 152 rupees a share, a premium of 3% to Thursday's closing price of 147.55 rupees.
* NARAYANA HRUDAYALAYA: Ashoka Investment Holdings sold 2.5% stake or 5.1 mln shares in the company through a bulk deal on BSE at 285 rupees a share.
* NATCO PHARMA: Has started commercial operations at its finished dosage formulations facility in Visakhapatnam. The facility will primarily cater to the US and other international markets.
* ORCHID PHARMA: The National Company Law Appellate Tribunal has set aside the approval of the resolution plan of Dhanuka Laboratories for the company.
* POWER GRID CORP OF INDIA: The potential asset monetisation exercise of the company could be much lower than the 100 bln rupees expected by the government.
* PUNJAB NATIONAL BANK: The Central Bureau of Investigation will soon file fresh charges in the $2-bln fraud case at the bank and detail how the alleged wrongdoing was carried out.
* RELIANCE HOME FINANCE: Debenture holders of the company may opt for enforcement of securities under public bond issuance as they met with company representatives on Thursday.
* SINTEX PLASTICS TECHNOLOGY: Government Pension Fund Global sold 0.6% stake or 4 mln shares in the company through a bulk deal on the National Stock Exchange at 1.30 rupees a share.
* STATE BANK OF INDIA: The executive committee of the bank's central board of directors on Thursday approved selling up to 4% stake in SBI Cards and Payment Services, through the sale of 37.29 mln shares in the initial public offering of the arm.
* TATA CONSULTANCY SERVICES: Is doubling down on its insurance platform--which has already won more than $5 bln in business in the past two years--and is looking at newer markets in Continental Europe to expand.
* TATA POWER CO: Has raised 2.2 bln rupees through non-convertible debentures maturing on Mar 31, 2028.
* VODAFONE IDEA: Managing Director Ravinder Takkar reached out to the company's 10,000-odd
employees, in his first such video call since taking over, in a bid to calm nerves after a Supreme Court order on adjusted gross revenue left the telecom company facing questions about its future.
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