Today's Stock News - 17.01.2020 : 09.00 Am
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* ADANI ENTERPRISES: The Central Bureau of Investigation has booked the company and some former senior executives of National Cooperative Consumers' Federation of India for alleged irregularities in award of a contract for supply of imported coal to Andhra Pradesh Power Generation Corp, or APGENCO, in 2010.
* ALLCARGO LOGISTICS: Bought 1.5 mln shares or 1.3% stake in GATI at 70 rupees apiece through a bulk deal on the National Stock Exchange.
* BHARTI AIRTEL: Is mulling over filing a curative petition in the Supreme Court after the apex court on Thursday rejected the review petition by telecom companies on the Supreme Court's decision upholding the government's formula for calculation of adjusted gross revenue of telecom companies.
-In a blow to telecom companies, the Supreme Court on Thursday rejected review petitions filed by
the company, VODAFONE IDEA, and TATA TELESERVICES against the court's earlier order upholding the government's formula for calculating adjusted gross revenue.
-Has net added 1.6 mln users in November as against 81,974 users added in October.
* CEAT: The board of the company will meet on Wednesday to consider raising funds by issuing nonconvertible debentures.
* CG POWER AND INDUSTRIAL SOLUTIONS: The Belgium commercial court has appointed two interim directors on the boards of two Belgium-based subsidiaries of the company to evaluate their business since the two entities are in a state of bankruptcy.
* COX & KINGS: Ashutosh Agarwala has been appointed as the resolution professional as per the National Company Law Tribunal order dated Jan 10.
* CYIENT: The board has approved closure of Cyient Engineering (Beijing), a wholly-owned subsidiary of the company in China.
* DISHMAN CARBOGEN AMCIS: The company will buy back up to 4.8 mln shares at not over 150 rupees per share, a 69.20% premium to Thursday's closing price of the shares.
* DIXON TECHNOLOGIES (INDIA): Has incorporated a wholly-owned subsidiary, Dixon Electro
Appliances, to manufacture consumer durables and electronic appliances.
* FEDERAL BANK: Has appointed Shalini Warrier as additional executive director for three years,
effective Wednesday.
* GAIL INDIA: Non-telecom state-run companies including the company, POWER GRID CORP and OIL INDIA will file petitions seeking a review of the Supreme Court's order that necessitates them to pay more than 3 trln rupees in arrears on their telecom licences, Solicitor General Tushar Mehta said.
* HIL: The board has approved sale and transfer of the company's calcium silicate insulation products
division operated under the 'HYSIL' brand to Calderys India Refractories for 800 mln rupees through a slump sale arrangement on a going concern basis.
* JINDAL STEEL & POWER: The Supreme Court on Thursday reserved its judgment in the Sarda mines case, wherein the company sought relief to allow transportation of 20-bln-rupee iron ore purchased by the steel maker from the mines.
* JSW STEEL: Sajjan Jindal-led JSW Group company Forma has shut down its operations within one year of its launch.
* MAX FINANCIAL SERVICES: US private equity buyout group Bain Capital is looking to join hands with Sunil Munjal's Hero Corporate Services to buy a controlling stake in the company from founder and chairman of the Max Group Analjit Singh.
* METROPOLIS HEALTHCARE: Has entered into a pact to acquire 51% stake in Shraddha Diagnostic Centre (I) for 93.63 mln rupees.
* MISHRA DHATU NIGAM: Chairman and Managing Director D.K. Likhi will take additional charge as director (finance) effective Jan 8, for three months or till the regular incumbent joins, whichever is earlier.
* MUSIC BROADCAST: The board will meet on Jan 27 to consider issuing bonus shares, as well as the earnings for the December quarter.
* NILKAMAL: Sri Lanka-based arm Nilkamal Eswaran Plastics has bought back shares from other existing shareholders.
* PREMIER EXPLOSIVES: A fire that broke out at the company's Peddakandukuru unit in Telangana on Wednesday damaged building and equipment in one of the curing facilities.
* RELIANCE INDUSTRIES: Owned Reliance Jio Infocomm has net added 5.6 mln users in November as against 9.1 mln users added in October.
* SOUTH INDIAN BANK: The bank's board of directors approved raising up to 5 bln rupees through tier-I bonds, in one tranche or more, on a private placement basis.
* TATA COMMUNICATIONS: Has ended a partnership with Formula One after eight years working
together on the sport's digital transformation.
* UCO BANK: The bank's board has approved raising 21.42 bln rupees through issue of shares to the
government on preferential basis.
* VODAFONE IDEA: Has net lost 36.4 mln user in November as against 189,901 added in October.
-Likely to approach the Supreme Court for extension of deadline to meet its obligations on adjusted
gross revenue, and may also file a curative plea after its review petition on the court's Oct 24 ruling was dismissed on Thursday.
* WIPRO: Strategic investment arm Wipro Ventures has raised $150 mln to invest in early to mid-stage companies building innovative enterprise software solutions across key areas, including cyber security, application development, analytics, cloud infrastructure, test automation, and artificial intelligence.
* YES BANK: Global rating agency Moody's has placed the company's long-term foreign currency issuer rating of 'B2' 'under review' and said that the direction of the rating is "uncertain".
* ZEE MEDIA CORP: SEBI has levied a fine totalling 900,000 rupees on the company and its promoter entity 25FPS Media for lapses in disclosure of changes in shareholding.
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