Today's Stock News - 20.02.2020 : 09.00 Am
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* ASIAN PAINTS: The board will meet on Tuesday to consider payment of second interim dividend, if any, for 2019-20 (Apr-Mar).
* AXIS BANK: Promoter GENERAL INSURANCE CORP OF INDIA has sold 130,000 shares of the bank on the National Stock Exchange for 96.10 mln rupees.
-On Wednesday, the bank sold 2.9 mln shares representing 1.1% stake of RELIGARE
ENTERPRISES at 42 rupees per share through a bulk deal on the National Stock Exchange.
-The bank is set to acquire more than 20% stake in Max Life Insurance through fresh issue of equity.
* BAJAJ ELECTRICALS: Is looking at ways to reduce its dependence on Chinese imports
* BHARTI AIRTEL: The deal between Subhash Chandra's Essel group, promoters of direct-to-home
company DISH TV INDIA, and the company has been called off due to differences over valuation.
* GAIL (INDIA): Has said it is evaluating options after the Supreme Court asked non-telecom public sector undertakings, that were served demand notices by the Department of Telecommunications in the adjusted gross revenue issue, to take up the matter before an "appropriate forum".
* GAYATRI PROJECTS: Defaulted on repayment of principal amount of 6.4 mln rupees on Jan 20.
* HAVELLS INDIA: Has launched its internet of things ceiling fan range, Carnesia-I, at 4,500 rupees.
* HINDUSTAN UNILEVER: Will list more pushcarts, restaurants and shops that stock its popular ice cream brands such as Magnum, Cornetto, and Kwality Wall's on Swiggy ahead of the peak summer season.
* INDRAPRASTHA GAS: Is looking to rake in revenue from gas distribution networks in other cities over the next five years.
* INFIBEAM AVENUES: Has expanded its digital payments business in the US.
* INTERGLOBE AVIATION: The Competition Commission of India has found no evidence that the
country's biggest airline, IndiGo, and four rival carriers colluded to fix ticket prices.
A group of five people were offloaded from IndiGo's Delhi-Jeddah flight on Tuesday for "unruly
behaviour", with one of them trying to forcibly open a door of the aircraft as it was taxiing for takeoff, insisting that their two companions who lost their boarding passes be allowed to take the flight, officials said.
* LARSEN & TOUBRO INFOTECH: The company's Chief Executive Officer and Managing Director Sanjay Jalona is likely to get another term to lead the information technology services firm after his tenure comes to an end in August. Sources said the board of the firm is weighing an extension proposal.
* MCLEOD RUSSEL INDIA: Has defaulted on payments of 11.87 bln rupees till Dec 31.
* MULTI COMMODITY EXCHANGE OF INDIA: Plans to launch a gold futures contract based on the Indian gold standard to improve domestic price discovery.
* MUTHOOT FINANCE: Is set to raise up to $550 mln by selling bonds to international investors to expand its gold loan business.
* POWER GRID CORP OF INDIA: Will not approach the Telecom Dispute Settlement and Appellate Tribunal against the Department of Telecommunication's demand notice for 221.68 bln rupees in licence fee dues, as it feels the Supreme Court's latest order seems to exempt it, said a senior government official.
* PUNJAB NATIONAL BANK: The Supreme Court has set aside a tribunal order freezing the assets of former chief of the bank Usha Ananthasubramanian, in connection with the alleged fraud at the bank involving diamond merchants Nirav Modi and Mehul Choksi.
* RELIANCE INDUSTRIES: Said it was assessing the impact of the latest US sanctions on Rosneft Trading SA, the Geneva-based trading unit of Rosneft that supplies oil to the private refiner.
* SIMPLEX INFRASTRUCTURES: The Adani Group is in talks with promoters of the company to take equity exposure in the latter through a fresh share sale.
* SNOWMAN LOGISTICS: Rajasthan Global Securities on Wednesday bought 4.24 mln shares or 2.54% stake in the company through open market.
* SOMANY CERAMICS: Sees double-digit volume growth in 2020-21 (Apr-Mar) despite market pressure, as its margins will improve on lower gas prices.
* STATE BANK OF INDIA: Has approved a restructuring plan proposed by SUZLON ENERGY as the first step towards saving the stressed wind power firm.
* STERLITE TECHNOLOGIES: Has bagged new orders worth 15 bln rupees, that includes multi-year, multi-million dollar contracts from major European telecom operators.
* TATA CONSULTANCY SERVICES: The company and INFOSYS have been exploring options to open up their internal e-learning courses directly to consumers, said top company executives, marking a first for the IT firms as they look to build new streams of revenue.
* TATA MOTORS: Arm Jaguar Land Rover has unveiled autonomous electric concept vehicle--Project Vector--which has been developed at the National Automotive Innovation Centre in the UK.
Arm Jaguar Land Rover has flown in auto parts in suitcases as the effects of coronavirus take a toll on the luxury carmaker's supply chain in China.
* TATA POWER CO: Global investors, including Brookfield, Omers, Mubadala and Abu Dhabi Investment Authority, are in early-stage discussions with the company to invest around $500 mln-$600 mln in its renewable energy platform.
* TECHNOFAB ENGINEERING: POWER GRID CORP OF INDIA has cancelled two orders awarded to the company, which were to be executed in the northeastern region.
* TRIGYN TECHNOLOGIES: Subsidiary Trigyn Technologies Inc has been awarded a contract by Ontario Education Collaborative Marketplace to provide staffing services in the east and west geographical zones of the Canadian province.
* UCO BANK: The Iranian government and the bank have assured Indian tea traders that exports to Iran will not face any payment issues.
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