Today's Stock News - 03.12.2019: 09.00 Am
KEEP REFRESH FOR NEXT UPDATE
* ALLCARGO LOGISTICS: The board of the company will meet on Thursday to mull over raising up to 1.95 bln rupees by issuing non-convertible debentures on private placement basis.
* APOLLO TYRES: Entered Saudi Arabia through a tie-up with Al-Jomaih Tyres Co. The company is looking at the large and growing truck-bus radial and passenger car tyre market, aiming to capture a sizeable market share in each of the segments in the next couple of years.
* BANK OF BARODA: The capital raising committee of the bank's whole-time directors will meet
Thursday to consider raising funds through issue of capital debt instruments.
- The Reserve Bank of India has conveyed its approval for the appointment of Dass Gupta &
Associates and J Kala & Associates as statutory central auditors of the bank for 2019-20 (Apr-Mar).
* BIOCON: The company and Mylan have launched trastuzumab Ogivri, a biosimilar of Herceptin brand, in the US.
* CADILA HEALTHCARE: The board has approved merger of four wholly-owned subsidiaries--Zydus Technologies, Alidac Pharmaceuticals, Liva Pharmaceuticals, and Dialforhealth India with the company.
* COX & KINGS: IFCI sold 1.5% stake or 2.6 mln shares in the company at 1.8 rupees apiece in a bulk deal on the National Stock Exchange.
* CROMPTON GREAVES CONSUMER ELECTRICAL: US private equity firm, Advent International and Singapore's Temasek Holdings today are set to sell up to $185-mln worth of shares in the company.
* DEWAN HOUSING FINANCE CORP: The National Company Law Tribunal has admitted the Reserve Bank of India's plea for initiation of corporate insolvency proceedings against the company under the Insolvency and Bankruptcy Code, the first mortgage lender to be referred to the tribunal by the regulator.
* GLENMARK PHARMACEUTICALS: Integrated Core Strategies Asia sold 0.64% stake, or 1.83 mln shares, in the company at 329.57 rupees apiece through a bulk deal on the National Stock Exchange.
* GRANULES INDIA: Expects revenue to grow at a compound annual growth rate of 20% and sees a steady operating margin at over 21% in the next 2-3 years.
* HDFC BANK: Kotak Mahindra Asset Management Co Managing Director Nilesh Shah was critical of MSCI Emerging Market Index for not including the bank in its index, citing the high levels of foreign holding in the bank.
- Is working to address a technical glitch that led to inconvenience for some of its customers in
accessing net banking services.
* IDBI BANK: Plans to raise 15 bln rupees from asset sales, with a major portion from the divestment of its stake in a life insurance joint venture.
* IFCI: Has received bids for sale of its entire stake in National Stock Exchange.
* INDIABULLS HOUSING FINANCE: Integrated Core Strategies Asia PTE sold 1.2% stake or 5.1 mln shares in the company at 293.66 rupees apiece through a bulk deal on the National Stock Exchange.
* JAYPEE INFRATECH: YES BANK has filed a plea in the Allahabad Bench of the National Company Law Tribunal to initiate insolvency proceedings against the company's arm Jaypee Healthcare.
- Mumbai-based Suraksha Realty, which is in the race with NBCC INDIA to acquire the company, is
likely to offer additional cash and land to lenders, and higher delay compensation to homebuyers to make its final resolution more lucrative for financial creditors.
* KEI INDUSTRIES: The board will meet on Thursday to consider raising funds through issue of share by way of qualified institutional placement.
* KOLTE PATIL DEVELOPERS: Has completed the second-tranche payment of 700 mln rupees to ICICI Venture Funds Management Co to acquire a 50% stake in Life Republic Township Project in Pune.
* MANAPPURAM FINANCE: The board will meet on Wednesday or a later date to finalise the price, tenure, and other terms for the issue of foreign currency denominated bonds under the euro medium term note programme.
* MANPASAND BEVERAGES: Registrar of Companies, Ahmedabad, has granted the company a onemonth extension for holding its annual general meeting for the year ended March.
* MCLEOD RUSSEL INDIA: HDFC Mutual Fund sold 2.47 mln shares of the company, representing 2.36% stake, through the open market on Thursday.
- The Calcutta High Court has quashed the ad-interim order of injunction that restrained
EVEREADY INDUSTRIES and the company, which are part of the Williamson Magor Group, from
transferring or encumbering any of their tangible and intangible assets.
* NBCC INDIA: Supreme Court on Monday directed the company to commence and complete the work of eight projects involving 11,258 home units in Noida and Greater Noida, and start handing over possession to the buyers.
* NMDC: Iron ore production in November was down 10.6% on year at 2.94 mln tn, while sales remained unchanged at 2.79 mln tn.
* ONE POINT ONE SOLUTIONS: HSBC Small Cap Fund sold 2.2% stake or 562,459 mln shares in the company at 8.07 rupees apiece through a bulk deal on the National Stock Exchange.
* RBL BANK: The capital raising committee of the board of the bank on Monday set the floor price for its qualified institutional placement issue, which opened today, at 352.57 rupees per share.
* RELIANCE HOME FINANCE: SBI Mutual Fund has written down its entire exposure to the debt
securities issued by the company held in eight schemes.
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm's all new JioFiber customers, who have put in the 2,500-rupee refundable deposit, are now being charged in big metropolitan markets, and commercial billing on a pan-India basis should be operational in a couple of weeks.
* SADBHAV ENGINEERING: Subsidiary Sadbhav Gadag Highway has achieved financial closure for a 9.95-bln-rupee project and submitted documents to the Karnataka State Highways Improvement Project.
* SOUTH WEST PINNACLE EXPLORATION: Has received an order worth 82.5 mln rupees from DEEP INDUSTRIES for air drilling rig services in Jharkhand.
* SUN PHARMACEUTICAL INDUSTRIES: Said a US court had accepted claims of certain plaintiffs related to a case with respect to arm Ranbaxy Laboratories.
* SYNGENE INTERNATIONAL: Has appointed Sibaji Biswas as chief financial officer with effect from Dec 18.
* TATA MOTORS: Has received orders for over 2,300 buses from five states--Rajasthan, Uttar Pradesh, Karnataka, Tamil Nadu, and Andhra Pradesh.
* THE NEW INDIA ASSURANCE CO: Gross premium collection rose 11.3% on year in October, in line with the industry's average growth of 11.5%. For ICICI LOMBARD GENERAL INSURANCE CO the premium income increased 8.7% to 13.64 bln rupees.
* UNITED SPIRITS: Company's board of directors approved the merger of its arm Pioneer Distilleries with the company.
* YES BANK: Integrated Core Strategies Asia sold 1.5% stake or 34.8 mln shares in the bank at 66.12 rupees apiece through a bulk deal on the National Stock Exchange.
- Capital International has committed to invest at least $120 mln in the bank with the possibility of
raising that in the future.
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