Today's Stock News - 07.01.2020 : 09.00 Am
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* BANK OF MAHARASHTRA: Will cut its marginal cost of funds-based lending rates by 15-45 basis points across tenures from today.
* BHARTI AIRTEL: Has inked a pact with Tamil superstar Rajinikanth's upcoming flick 'Darbar', offering a host of features to customers. As per the tie-up, Airtel customers would be able to participate in an interactive quiz on the Airtel Xstream application and also get an opportunity to win movie tickets besides meeting the cast and crew.
* BIOCON: Has appointed M.B. Chinappa as chief financial officer of subsidiary Biocon Biologics India.
* CENTRAL DEPOSITORY SERVICES INDIA: Became the first depository to inaugurate its international financial services centre branch at Gujarat International Fin-Tec City, Gandhinagar.
* CONTAINER CORP OF INDIA: Has formed a wholly-owned subsidiary--CONCOR Last Mile Logistics- -to develop goods sheds, operate and manage freight terminals, develop warehouses, provide first mile-last mile connectivity, and other services.
* DEWAN HOUSING FINANCE CORP: Lenders have decided to float a combined bid for the company's retail and wholesale books after fresh funding starts in the third week of this month.
- The resolution professional of the company has appointed Grant Thornton India LLP as the
transaction auditor of the company.
* HDFC BANK: Total advances grew around 20% on year to 93.40 trln rupees as on Dec 31.
* HINDALCO INDUSTRIES: Cut prices of aluminium ingots, billets and wire rods by 1% on Saturday.
* JAYPEE INFRATECH: Interim Resolution Professional Anuj Jain has filed an application before the National Company Law Tribunal, Allahabad, to approve the bid of NBCC (INDIA) to acquire debt-laden realty firm through insolvency process.
* JET AIRWAYS (INDIA): South America-based Synergy Group has again given a formal expression of interest for the company.
* KARUR VYSYA BANK: Has cut its marginal cost of funds-based lending rates by 10 basis points on sixmonth and one-year loans, effective today.
* MAHINDRA & MAHINDRA: Total vehicle production in December grew 22.6% on year to 33,888 units.
* MANAPPURAM FINANCE: The board has approved raising $300 mln through issuance of fixed rate senior unsecured notes, for three years, at coupon of 5.90%.
* MISHRA DHATU NIGAM: Has dispatched its first consignment of ultra-high strength steel for ignitor box and cobalt alloy for throat sitting rings for Gaganyaan – the Indian Space Research Organisation's indigenous manned mission.
* NATIONAL ALUMINIUM CO: Hiked prices of its aluminium ingots for the third time in a row on
Wednesday.
* NEW DELHI TELEVISION: Bombay High Court dismissed a petition filed by the company's promoters-- Pronnoy Roy and his wife Radhika Roy--against a show-cause notice by the Securities and Exchange Board of India over alleged violation of insider trading norms.
* NTPC: Has outbid the Adani Group for the Avantha Group's 600 MW Jhabua power plant in Madhya Pradesh, with a 19-bln-rupee offer that was two and-a-half times more than the rival bid.
* PI INDUSTRIES: Two people died and nine others were injured due to an accident in a section of plant at the company's Jambusar site in Gujarat.
* POWER GRID CORP OF INDIA: Has set 7.38% coupon on bonds maturing on Apr 10, 2030 and raised 5 bln rupees.
* RAIL VIKAS NIGAM: The Railway Board has conveyed to the company a framework to introduce competitive bidding among railway public sector units for award of railway-related projects.
* REC: Government has extended Chairman and Managing Director Ajeet Kumar Agarwal's term till May 31.
* RELIANCE COMMUNICATIONS: Lenders to the company are unlikely to agree to the current bids and will push for a better deal with more upfront cash.
* RELIANCE INDUSTRIES: Reliance Jio Infocomm has rolled out voice over WiFi calling service for its subscribers in multiple circles, including Delhi-NCR and Chennai. This follows a limited launch by BHARTI AIRTEL in December last year.
* TATA CONSULTANCY SERVICES: Will not be the first one to kick-start the earnings season among information technology services firms in the third quarter of 2019-20. The company is learnt to be waiting until the Supreme Court hears its plea over the National Company Law Appellate Tribunal's order on the reinstatement of Cyrus Mistry.
* TATA MOTORS: Arm Jaguar Land Rover's UK sales in December were at 6,171 units, down 6.9% on year.
* TATA POWER CO: Signed a share purchase agreement with Rishabh Patel of Arta Broch Ceramics and Tanuj Patel, promoter of ABC BEARINGS, to sell its 9.35% stake in Tata Ceramics. It will also sell 21.34% stake in Tata Ceramics held by wholly-owned subsidiary Af-Taab Investment Co as part of the pact.
* TATA STEEL: Tata Group Chairman N. Chandrasekaran has said the steel conglomerate cannot have a situation where India keeps funding the mounting losses at its struggling Port Talbot steelworks in the UK.
* TATA STEEL BSL: The Delhi High Court has granted the company exemption from appearance before a trial court in a case registered by the Serious Fraud Investigation Office against former promoters of Bhushan Steel, which was acquired last year by the Tata group firm.
* VEDANTA: Has cut prices of its aluminium products by more than 1% with effect from Friday.
* VST TILLERS TRACTORS: Tractor sales fell 39.2% on year to 366 units in December. Sales of power tillers rose 4.3% on year to 1,410 units.
* WELSPUN CORP: Public shareholder Mentor Capital sold 5.5 mln shares or 2.1% stake in the company at 147 rupees apiece on the BSE.
* WELSPUN ENTERPRISES: Public shareholder Mentor Capital sold its entire 4.3 mln shares or 2.9% stake in the company at 79 rupees apiece via a bulk deal on the BSE.
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