Today's Stock News - 28.02.2020 : 09.00 Am
* ADANI ENTERPRISES: Adani Wilmar plans to increase the share of non-edible oil products in its total revenue to 30-35% from the current 10% in the next five years, said Angshu Mallick, deputy chief operating officer. Adani Wilmar is a joint venture between Adani Group and Wilmar International.
* BANK OF BARODA: Will sell its entire 4.90% stake in Petronet MHB for 525.60 mln rupees.
* DHANLAXMI BANK: Sunil Gurbaxani has taken charge as managing director and chief executive officer of the bank from Thursday for three years.
* DIC INDIA: The board has approved sale of the company's land in Chandivali, Mumbai, to GODREJ PROPERTIES for up to 1.53 bln rupees.
* GITANJALI GEMS: The Securities and Exchange Board of India on Thursday slapped a penalty of 50 mln rupees on the company and its promoter Mehul Choksi. This penalty is for non-disclosures by the company with respect to the PUNJAB NATIONAL BANK fraud.
* GODREJ PROPERTIES: Added new project in Mumbai of 41,800 sq mt.
* GTPL HATHWAY: The promoter of the company, Jio Content Distribution Holdings, will sell up to 4.3 mln shares or 3.83% stake in the company through an offer for sale starting today.
* HERO MOTOCORP: Has launched Super Splendor motorcycle that is compliant with Bharat Stage-VI emission norms.
* HFCL: Has selected Israel-based AudioCodes to provide voice access infrastructure for a next-generation telecom network for the Indian Army under the Network for Spectrum project.
* HINDALCO INDUSTRIES: Has raised the prices of its aluminium ingots, billets and wire rods by more than 1% on Wednesday.
* HINDUSTAN OIL EXPLORATION CO: Will start commercial production from its discovered small field block in Mumbai by December.
* HINDUSTAN PETROLEUM CORP: OIL AND NATURAL GAS CORP and its downstream arm, the company, have entered into share purchase agreements with a consortium of eight public sector banks to acquire an additional 17.28% stake each in Petronet MHB, a pipeline company promoted by ONGC and HPCL.
* ICRA: Has maintained its negative outlook on the Indian aviation industry, citing ongoing lockouts in parts of China following the outbreak of the novel coronavirus. It sees the maximum impact on the sector coming from international routes due to flight cancellations.
* INDIA CEMENTS: Nippon Life India Trustee sold 5.45 mln shares of the company, representing 1.76% stake, through the open market on Tuesday.
* INDIAN OIL CORP: Has made an investment of around 30 bln rupees to upgrade its refinery at Haldia to meet BS-VI emission norms.
* INDUSIND BANK: The Reserve Bank of India has approved the appointment of Sumant Kathpalia as managing director and chief executive officer of the bank for a term of three years starting Mar 24.
* INTERGLOBE AVIATION: The company-run IndiGo and HDFC BANK have launched a co-branded travel credit card, named Ka-ching.
* JAI CORP: Morgan Stanley Mauritius Co has sold 7.05 mln shares or its entire 3.95% stake in the
company at 94.10 rupees a share through a block deal on the National Stock Exchange.
* JUBILANT FOODWORKS: Will pay interim dividend of 6 rupees per share.
* LAKSHMI VILAS BANK: Temasek Holdings, the Singapore government's investment company, has furthered its talks with Indian authorities to acquire a controlling stake in the bank.
* LEMON TREE HOTELS: The company, through its management subsidiary Carnation Hotels, announced opening of a 27-room hotel in Thimpu, Bhutan.
* KRBL: Will pay interim dividend of 2.80 rupees per share.
* MAHINDRA LIFESPACE DEVELOPERS: Has executed a sale deed with land owners for acquisition of a land parcel in Pune, Maharashtra, with residential development potential of about 700,000 sq ft.
* MANAPPURAM FINANCE: Will pay interim dividend of 0.55 rupee per share.
* MARICO: Expects to return to mid single-digit volume growth in the September quarter, Managing
Director and Chief Executive Officer Saugata Gupta told Edelweiss Securities at a recent interaction.
* MAX FINANCIAL SERVICES: Will on Tuesday consider issue of equity shares to Mitsui Sumitomo.
* NEWGEN SOFTWARE TECHNOLOGIES: The Development Commissioner of Noida Special
Economic Zone has given its approval to the company to set up a unit in the information
technology/information technology enabled services of Seaview Developers at Sector 135, Noida, in
accordance with the provisions of Special Economic Zones Act, 2005.
* PETRONET LNG: Has extended a non-binding memorandum of understanding with US-based Tellurian Inc by signing a supplementary agreement on Thursday.
* PIDILITE INDUSTRIES: Will acquire 70% stake in Tenax India for 800 mln rupees.
* POWER GRID CORP OF INDIA: The board will meet on Mar 6 to consider interim dividend.
* RELAXO FOOTWEARS: Will pay interim dividend of 1.25 rupees per share.
* RELIANCE NAVAL AND ENGINEERING: The committee of creditors to the company met on Feb 14 to give business updates, approve corporate insolvency resolution process costs, and discuss the appointment of resolution professional for the company.
* RITES: The government has decided to exercise the oversubscription option and sell 3.9 mln more shares through the offer for sale.
* SHREE CEMENT: The company's cement kiln at Ras Al Khaimah in the United Arab Emirates has
started commercial operations. "We have operationalised the plant and now it is the world's largest cement kiln with a capacity to produce 14,500 tn per day," Managing Director H.M. Bangur said.
* SUZLON ENERGY: Board has approved the company's debt reconstruction plan. It has also approved issuing up to 1 bln shares to lenders.
* TATA CHEMICALS: HDFC Mutual Fund on Wednesday sold 5.80 mln shares or 2.28% stake in the company through the open market.
* TATA MOTORS: The Competition Commission of India is examining allegations that the company and two finance firms of its parent group abused their market position while selling commercial vehicles.
* TATA POWER: The company has told distribution companies in Gujarat, Haryana, Punjab, Rajasthan and Maharashtra that supply may be stopped from March if tariff is not hiked.
* TITAN CO: Morgan Stanley France SAS on Thursday sold 1.82% stake in the company for over 1.25 bln rupees through an open market transaction.
* VEDANTA: Has raised prices of its aluminium ingots by more than 1% from Wednesday, and it now costs between 136,500 rupees and 149,500 rupees per tn. The company hiked the prices after cutting them last week.
-The company will pay interim dividend of 3.9 rupees per share.
* VODAFONE IDEA: Axiata Group Berhad is close to completely exiting the company, with valuation of the Malaysian telecom company's stake in the struggling telecom operator seeing a sharp erosion over the past 18 months.
-The company wants minimum tariffs for mobile data to be fixed at 35 rupees per GB, 7-8 times of
current prices, and calls at 6 paise per minute along with monthly charges from Apr 1, to help it pay the statutory dues and make its business sustainable.
* VOLTAS: Has commenced operations at its greenfield unit in Waghodia, Gujarat, to manufacture
industrial heating, ventilation and air conditioning solutions, catering to different needs, capacities, and environments.
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