Today's Stock News - 03.03.2020 : 09.00 Am
* AJANTA PHARMA: Has received US Food and Drug Administration's approval for generic of Depakote capsule.
* ALLAHABAD BANK: The merged entity of the bank and INDIAN BANK will register a business of 10 trln rupees in the next two to three years. The combined entity is also looking to scale up its branch network to 10,000 in the same period.
* ASHAPURA MINECHEM: Has received an arbitration award under which invocation of pledged shares of the company's wholly-owned subsidiaries Ashapura International and Bombay Minerals and joint venture Ashapura Perfoclay by ASQ Connect has been set aside.
* BLISS GVS PHARMA: Bharat Suresh Parikh (HUF) bought 0.5% stake or 527,200 shares in the
company at 99.62 rupees per share through a bulk deal on BSE.
* CESC: Board of directors of the company will meet on Wednesday to consider raising 3.50 bln rupees through issuances of non-convertible debentures in one or more tranches.
* COX & KINGS: Pipara & Co LLP has been appointed as statutory auditor of the company by the
resolution professional with effect from Feb 7.
-The newly appointed statutory auditors of the company have said a fraud involving at least 10 mln
rupees was committed at the company by its officers or employees in 2018-19 (Apr-Mar).
* DLF: In inter-se transfer, promoter Rajdhani Investments & Agencies bought 0.6% stake or 14.9 mln shares in the company from promoter Realest Builders and Services at 210.10 rupees per share via bulk deal on the National Stock Exchange.
* HERO MOTOCORP: Reported a 19.3% on-year decline in total sales at 498,242 units in February.
* HINDUSTAN CONSTRUCTION CO: Of the total outstanding amount of 31.71 bln rupees, the company has defaulted on payment of 5.29-bln-rupee principal, interest, and others payments towards bank loans and revolving facilities as on Jan 31.
* INDIABULLS HOUSING FINANCE: KB Horizon Access India Fund sold 3.8 mln shares or 0.9% stake in the company at 301.33 rupees apiece via a bulk deal on the National Stock Exchange.
* INDIAN OIL CORP: Has picked up a minority stake in high-tech battery maker Phinergy earlier this month, is in talks with leading domestic electric vehicle makers to start field trials for the metal-air batteries that the Israeli company specialises in.
* INDRAPRASTHA GAS: Plans to set up a factory to manufacture gas meters used to bill households and industries for the consumption of the environment-friendly fuel, as it looks to cut reliance on imports from China for the same.
* INFOSYS: Has settled 600,000 rupees as compounding fees in the matter related to severance agreement with former chief financial officer Rajiv Bansal.
-In pact with IBM for digital transformation services.
* KSK ENERGY VENTURES: Committee of Creditors has passed a resolution to proceed for liquidation of the company as it has not received any expressions of interest from any prospective resolution applicant till date.
* MAHINDRA AND MAHINDRA: The company and Ford India are in joint talks with two Chinese
automakers for potential contract manufacturing deals to utilise their excess production capacities.
* MAHINDRA LIFESPACE DEVELOPERS: The Ministry of Commerce and Industry has granted
approval to arm Mahindra World City Developers, the developer of the special economic zone in Chennai, for partial de-notification of 55.90 ha land in the non-processing area.
* MARUTI SUZUKI INDIA: Is developing two car models that will be priced below 500,000 rupees,
expanding its offerings in the entry-level segment where competition is easing with the introduction of new safety and emission regulations.
* MINDTREE: Has appointed Dayapatra Nevatia as its chief operating officer.
* NCC: Has secured a reinstatement order from Delhi High Court for a 15.6-bln-rupee order from NBCC.
* NEWGEN SOFTWARE TECHNOLOGIES: Has secured product patent from Indian Patent Office for its system and method for the automatic quality assessment of digital documents.
* NTPC: The power ministry has raised concerns over the proposed strategic divestment of government equity in the company, POWER FINANCE CORP and POWER GRID CORP OF INDIA, which may bring down its stake to below 51%.
-The company, including its joint venture and arms, has achieved its annual commercial capacity
addition target of 5,290 MW for 2019-20.
* PARAG MILK FOODS: Promoters have informed the company that they would repay the entire
outstanding loan within 90 days and release the entire lot of pledged shares from Kotak Mahindra
Investments.
* PRISM JOHNSON: The company's joint venture Spectrum Johnson Tiles permanently closed its wall manufacturing plant with capacity of 5 mln sq mtr per annum with effect from Sunday due to unviability of the plant.
* RBL BANK: Zomato has announced a strategic partnership with the bank to launch credit cards.
Cardholders can avail host of benefits every time they use Zomato.
* SHRIRAM CITY UNION FINANCE: Board has approved raising up to 6 bln rupees by issuing nonconvertible debentures in one or more tranches.
* SUN PHARMACEUTICAL INDUSTRIES: Said there is a shortage of its generic version of hypertension drug pindolol in the US due to lack of ingredients.
* TECH MAHINDRA: The National Company Law Tribunal's Mumbai and Bengaluru benches have
approved the merger of wholly-owned subsidiaries Tech Mahindra Growth Factories and Dynacommerce India with the company.
* TORRENT POWER: Has taken over power distribution operations of Shil, Mumbra, and Kalwa subdivisions in Thane region of Maharashtra.
* VINATI ORGANICS: To pay 5 rupees per share interim dividend.
* VODAFONE IDEA: Is likely to pay around 30 bln rupees as spectrum dues this week for the airwaves it bought in the previous auctions, to avoid bank guarantees being invoked.
-Ahead of the final hearing on adjusted gross revenue issue at the Supreme Court, Vodafone Group
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