Today's Stock News - 18.02.2020 : 09.00 Am
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* ADANI GAS: The Supreme Court dismissed appeals by the company and upheld Petroleum and Natural Gas Regulatory Board's decision to grant authorisation for implementation of city gas distribution networks in five geographical areas, including districts of Puducherry, Kanchipuram, Chennai and Tiruvallur.
* ADITYA BIRLA FASHION AND RETAIL: Plans to open more than 500 outlets this year, nearly three times its average annual expansion.
* APL APOLLO TUBES: HDFC Mutual Fund sold 300,000 shares representing 1.2% stake in the company at 2,000 rupees a share through a bulk deal on BSE.
* AVENUE SUPERMARTS: DMart supermarket chain is set to enter Delhi, a move that will help
billionaire founder Radhakishan Damani widen the brand's footprint outside the western and southern India markets.
* BANK OF BARODA: Did not honour a bank guarantee invoked by INDIAN OIL CORP because certain conditions necessary to pay the guaranteed amount were not fulfilled, the lender said.
* BHARAT ELECTRONICS: The government sold 100.77 mln shares or 4.14% stake in the company to central public sector enterprises' exchange-traded fund under the sixth fund offer on Feb 3.
* BHARTI AIRTEL: Has raised about 25 bln rupees by selling bonds in the local market, which will help strengthen its war chest even as the company paid a part of its dues on telecom licence fee that the government had demanded.
* COX & KINGS: The National Company Law Tribunal on Monday gave three days to the company's suspended directors to hand over documents relevant to the company's insolvency process, to the resolution professional.
* DEWAN HOUSING FINANCE CORP: About two-dozen potential buyers, including the Adani Group, KKR, Warburg Pincus and Oaktree Capital, on Monday put in nonbinding initial bids to acquire the company.
* DREDGING CORP OF INDIA: A Delhi High Court order to attach all assets, including the bank accounts of the company, for payment of about 500 mln rupees in arbitral awards to struggling private fleet owner MERCATOR has sent India's biggest dredging contractor into a tizzy.
* FINOLEX INDUSTRIES: Due to unavoidable circumstances declared by one of its vinyl chloride
monomer supplier in March, operations in its vinyl chloride monomer to polyvinyl chloride route will be affected for 30-35 days.
* FIRSTSOURCE SOLUTIONS: Has declared interim dividend of 2.50 rupees a share for the year ending March.
* FUTURE LIFESTYLE FASHIONS: Board will meet on Thursday to consider raising funds through securities.
* GATI: Lender on Monday invoked pledge on 132,490 shares or 0.11% stake held by promoter Jubilee Commercial and Trading in the company.
* GRASIM INDUSTRIES: Has raised 5 bln rupees through non-convertible debentures at a coupon of 6.65%.
* HDFC BANK: Managing Director and Chief Executive Officer Aditya Puri sold 1.25 mln shares of the bank on Feb 11-12 on BSE.
* HINDUSTAN AERONAUTICS: Has raised 10 bln rupees through commercial papers, due on Mar 30, carrying a coupon of 5.35% per annum.
-French aircraft manufacturer Dassault and the company are in talks for possible cooperation in
producing Rafale fighter jets in India for additional anticipated orders under a 'staggered procurement' plan.
* HINDUSTAN UNILEVER: Reliance Jio Infocomm and the company have teamed up to keep their
portfolio of brands relevant and their customers, engaged, amidst a slowdown in consumption expenditure.
* HOUSING DEVELOPMENT & INFRASTRUCTURE: The National Company Law Tribunal allowed the exclusion of 106 days from the corporate insolvency resolution process of the company.
* ICICI BANK: Has raised 9.45 bln rupees by issuing Basel III-compliant tier-II bonds maturing in 10 years at a coupon of 7.10%.
* INDIAN RAILWAY CATERING AND TOURISM CORP: Will run a Bharat Darshan Special Tourist Train, Ramayana Tour, from Tirunelveli in March.
* INTERGLOBE AVIATION: IndiGo retained the top position with a 47.9% market share in January, up 40 basis points from the previous month. IndiGo's passenger load factor for January was down 230 bps at 87.8%.
-IndiGo has abandoned plans to launch long-haul international flights on dual-aisle Airbus 330
aircraft as it is likely to start flights to Europe and London on a single-aisle Airbus 321XLR (extralong range) aircraft set to join its fleet by 2023-24.
* JET AIRWAYS (INDIA): Has not received any concrete resolution plan from potential bidders Synergy Group and Prudent ARC ahead of the Feb 17 deadline.
* JINDAL STEEL & POWER: The debt restructuring of the company's step-down subsidiary Wollong Coal is subject to a number of conditions being met by Mar 15, which could be extended to Mar 30, the Supreme Court of New South Wales said.
* JSW ENERGY: Has entered into a share-purchase agreement with GMR Energy to acquire 100% stake in the latter's subsidiary, GMR Kamalanga Energy, for 53.21 bln rupees.
* JSW STEEL: Has been declared as the preferred bidder for the Nuagaon Iron Ore Mine, Narayanposhi Iron & Manganese Ore Mine, and Ganua Iron Ore Mine in Odisha.
In line with the recent IBC (Amendment) Bill 2019, the National Company Law Appellate Tribunal on Monday granted immunity to the company in its 197-bln-rupee bid for Bhushan Power and Steel.
* POWER FINANCE CORP: Plans to raise at least 10 bln rupees by issuing two bonds, one maturing in five years and the other in 10 years, and has invited bids on Thursday.
* RELIANCE COMMUNICATIONS: The Committee of Creditors of the company will on Feb 24 put to a vote asset bids received from UV Asset Reconstruction Co and Reliance Jio Infocomm from which lenders are expected to recover around 230 bln rupees.
* RELIANCE INDUSTRIES: Is restructuring its media and distribution operations by merging three group entities--TV18 BROADCAST, HATHWAY CABLE & DATACOM and DEN NETWORKS--with flagship NETWORK18 MEDIA & INVESTMENTS.
* SIMPLEX INFRASTRUCTURES: Has begun to default on bank loans as delay on payments by
government agencies has led to a liquidity squeeze and subsequent cancellation of some large work orders.
* SPICEJET: The company's market share in January was 10 basis points higher at 16.6%. It recorded the highest passenger load factor for the reporting month at 91.5%, but down 120 bps from December.
* STATE BANK OF INDIA: SBI Cards and Payment Services, backed by the bank and private equity firm Carlyle Group, is targeting an early-March launch for its 90-bln-rupee initial public offering.
* SYNGENE INTERNATIONAL: Has opened a 1.7-bln-rupee research and development centre in
Hyderabad.
* TATA MOTORS: Will be correcting prices of its medium and heavy commercial vehicles' range once the Bharat Stage-VI norms kick in, said a top executive of the company.
* TATA TELESERVICES MAHARASHTRA: Tata Teleservices and its subsidiary, the company, have paid the Department of Telecommunications 21.97 bln rupees following a Supreme Court order in October on adjusted gross revenue.
* THE NEW INDIA ASSURANCE CO: Gross premium collection rose 20.5% on year in January, higher than the industry's average growth of 7.2%, as per data released by the Insurance Regulatory and Development Authority of India.
* UJJIVAN FINANCIAL SERVICES: CX Partners Fund 1 Ltd and Alena Pvt Ltd together sold 2.47 mln shares, representing 2.03% stake, of the company through the secondary market on Wednesday.
* VEDANTA: GE and the company jointly announced that they have entered into a pact to install the USbased firm's digital smelter solution at the latter's aluminium plant at Jharsuguda in Odisha for improving productivity.
* VODAFONE IDEA: Will "immediately" pay the Department of Telecommunications 25 bln rupees as part of its total dues arising from the Supreme Court's judgement on telecom companies' adjusted gross revenue. It will pay another 10 bln rupees by the end of the week.
CARE Ratings has downgraded its rating on long-term bank facilities and non-convertible debentures of the company to 'BB-' from 'BBB-'.
* WABCO INDIA: The Competition Commission of India has approved ZF's acquisition of 100%
shareholding in the company.
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