Today's Stock News - 24.02.2020 : 09.00 Am
KEEP REFRESH FOR NEXT UPDATE
* ACC: The board has appointed Sridhar Balakrishnan as managing director and chief executive officer for five years, effective Friday.
* ADANI ENTERPRISES: The Kerala government has moved the Supreme Court to challenge the Airport Authority of India’s decision of leasing the Trivandrum Airport to Adani Enterprises for 50 years.
* ADANI PORTS AND SPECIAL ECONOMIC ZONE: Adani group has won a bid to acquire Aditya Estates, through an insolvency process, for 4 bln rupees. The National Company Law Tribunal has approved the resolution plan of Adani Properties to acquire Aditya Estates.
* ALKEM LABORATORIES: The company has received two observations from the US Food and Drug Administration after inspection of its Baddi facility in Himachal Pradesh.
* AMBUJA CEMENTS: The board has appointed Neeraj Akhoury as managing director and chief executive officer of the company, effective Friday, in place of Bimlendra Jha who resigned on Thursday.
* ARVIND FASHIONS: CARE Ratings cuts long-term rating to "A-" from "A".
* ASTRAZENECA PHARMA: The company has launched a generic of Qtern tablets in India.
* AUROBINDO PHARMA: The US Food and Drug Administration has revoked the "voluntary action initiated" status issued on the company's unit IV facility in Hyderabad, only days after it indicated that any further regulatory action may not be pursued.
* BAJAJ AUTO: The company will pay 120 rupees/share interim dividend.
* BAJAJ HOLDINGS: The company will pay interim dividend of 40 rupees per share.
* BAJAJ FINANCE: Has raised 7.15 bln rupees through non-convertible debentures maturing in three years at a coupon of 7.30% per annum.
-The company will pay interim dividend of 10 rupees per share.
* BAJAJ FINSERV: The company will pay interim dividend of 5 rupees a share.
* BHARTI AIRTEL: Will pay its dues arising from the adjusted gross revenue much before the Mar 17 deadline and has not asked the government for additional time, Chairman Sunil Bharti Mittal told reporters after meeting Telecom Minister Ravi Shankar Prasad Thursday.
* BHARTI INFRATEL: The company has received the foreign direct investment approval from the
Department of Telecom for its proposed merger with Indus Towers.
* BIOCON: The company has received Form 483 with three observations from the US Food and Drug Administration following an inspection of its subsidiary Biocon Sdn Bhd's insulin manufacturing facility in Malaysia.
* DCW: Sees itself as the biggest beneficiary from the government's move to impose anti-dumping duty on import of chlorinated polyvinyl chloride resin or compound from China and South Korea.
* DEWAN HOUSING FINANCE CORP: An audit of the company by Grant Thornton has indicated
instances of "avoidance transactions" by the company and the auditor has informed the creditors about it at the last meeting on Feb 20.
-The company is expected to restart its lending operations today.
* DHANLAXMI BANK: The Reserve Bank of India has approved the appointment of Sunil Gurbaxani as the managing director and chief executive officer of the bank for three years.
* DIXON TECHNOLOGIES (INDIA): Promoter Sunil Vachani has sold 185,000 shares representing 1.6% stake of the company at 4,308.82 rupees per share in a bulk deal on the National Stock Exchange.
* DR REDDY'S LABORATORIES: The company has received the establishment inspection report from the US Food and Drug Administration for formulations manufacturing plant--Vizag SEZ plant I at Duvvada, Visakhapatnam, indicating closure of audit.
* ERIS LIFESCIENCES: Goldman Sachs Trust Goldman Sacs Brics Fund has sold 935,313 shares
representing 0.68% stake of the company at 430.03 rupees per share in a bulk deal on the National Stock Exchange.
* ELECTROSTEEL CASTINGS: The company has commissioned 5 MW power plant in Haldia, West Bengal.
* ESCORTS: The company clarified that the Enforcement Directorate has neither served any notice nor conducting any investigation into the company or its promoters.
* GARWARE TECHNICAL FIBRES: The company will incorporate a wholly-owned subsidiary in the US to have a more effective legal and business structure of operations. The subsidiary will acquire its current operations in the US.
* GMR INRASTRUCTURE: The company will sell 49% of its stake in GMR Airports Ltd to Groupe ADP for 107.80 bln rupees.
* GUJARAT ALKALIES AND CHEMICALS: The company has commenced a 15,000 tn per annum stable bleaching power plant at Dahej with a total project cost of 255 mln rupees, the company informed exchanges.
* HERO MOTOCORP: The company said that potential loss due to the coronavirus outbreak in China is not quantifiable as of now.
* HIND RECTIFIERS: Maharashtra Industrial Development Corp has allotted 26,930 sq mtr land to the company for 95 years lease.
* ICICI LOMBARD GENERAL INSURANCE CO: Announced a strategic partnership with Realme PaySa to provide mobile phone screen insurance to the users of Realme phones under the All Risk Insurance Policy underwritten by ICICI Lombard General Insurance.
* INDIABULLS VENTURES: The board and shareholders of the company have decided to transfer the stock broking and depository business to wholly-owned subsidiary Indiabulls Securities with effect from Friday.
* INDIAN BANK: Has decided to stop loading its automated teller machines with 2,000 rupees notes, citing customer preferences.
* INTERGLOBE AVIATION: IndiGo is in talks with Sydney-based Qantas Airways and its wholly-owned subsidiary Jetstar Airways on codeshare agreements, which allows an airline to sell other airline's seats.
* JAGRAN PRAKASHAN: The company has bought back 14.94 mln shares at an average price of 66.24 rupees per share.
* LLOYDS METALS AND ENERGY: The board has approved raising up to 500 mln rupees through
preferential issue of securities to promoters/promoter group and strategic investors.
* MAHARASHTRA SCOOTERS: The company will pay an interim dividend of 50 rupees a share.
* MAHINDRA AND MAHINDRA: The company's step-down subsidiary Mahindra Renewables Pvt Ltd will sell entire stake in its three subsidiaries to CLP India, a part of Hong Kong's CLP Group, for 3.4 bln rupees.
* MANGALORE CHEMICALS AND FERTILISERS: The company has shut production at its ammonia, urea, and ammonium bicarbonate plants from Thursday as it is carrying out annual maintenance.
* MAX FINANCIAL SERVICES: Has entered into a confidentiality and exclusivity agreement with AXIS BANK to explore long-term strategic partnership options.
WF Asian Smaller Companies Fund bought 2 mln shares, or 0.7% stake, of the company at 564.34 rupees per share through a bulk deal on the National Stock Exchange.
* MUTHOOT FINANCE: The company has raised $550 mln through 3.5-year senior secured bonds at 4.40% yield, the company said in a press release. The company intends to use the funds for permitted purposes including onward lending.
* NESTLE INDIA: The Delhi High Court has given interim relief to the company by ordering a stay on the payment of outstanding penalty that the National Anti-Profiteering Authority had directed the local arm of the Swiss fast-moving consumer goods firm to pay.
* PIDILITE INDUSTRIES: Arm Madhumala Ventures will buy 25% stake in Aapkapainter Solutions Pvt Ltd for 50 mln rupees.
* PI INDUSTRIES: Looking to raise up to 20 bln rupees through a qualified institutional placement inMarch.
* PNB HOUSING: CRISIL has downgraded its rating on the long-term debt instruments of PNB Housing Finance Ltd to "AA" from "AA+".
* PVR: The company has added a five-screen multiplex at Nilamber Triumph Mall in Vadodara, Gujarat.
* RATTANINDIA POWER: Looking to raise 5 bln rupees working capital from its existing lenders to restart the 1,350-MW Sinnar thermal plant in Nashik, even as its creditors are working on a resolution plan for the debt-laden company.
* RELIANCE INDUSTRIES: Arm Reliance Jio Infocomm has recently raised the tariff on its annual 1.5 GB/DAY 2,020-rupee prepaid mobile plan to 2,121 rupees, an increase of 101 rupees.
* STATE BANK OF INDIA: SBI Cards & Payment Services, backed by SBI and private equity firm
Carlyle Group, is likely to beat some of the largest companies by market value to rank 44 among the top 50 companies by market capitalisation after listing in March.
* SHOPPERS STOP: Has closed one store each in Bengaluru and Chennai due to lower-than-expected business and profitability.
* SOLAR INDUSTRIES INDIA: HDFC Mutual Fund on Tuesday sold 2.07 mln shares or 2.29% stake in the company through the open market.
* SOLARA ACTIVE PHARMA SCIENCES: The US Food and Drug Administration has cleared the
company's Puducherry and Mangaluru facilities with zero observations.
* SUN PHARMA: The Securities and Exchange Board of India has found that the company had violated its listing and disclosure norms by not revealing related-party transaction with Aditya Medisales.
-US-based arm Taro Pharmaceuticals is recalling two lots of Phenytoin Oral Suspension, a drug used
for the treatment of seizures due to an issue with the packaging that may cause under or overdosing.
*SUZLON ENERGY: STATE BANK OF INDIA, the lead bank in a consortium of lenders, has approved the resolution plan of the company and its certain identified subsidiaries.
* TATA CONSULTNCY SERVICES: Has been recognised as one of the Fortune’s Best Big Companies to Work For in 2020. It is the only Indian firm in the Top 20 list.
* TATA STEEL: Companies including the company, JSW STEEL and ADANI POWER among others have requested the government to ensure the blocks proposed to be auctioned for commercial coal mining should have prior environmental clearance, so that issues like 'inviolate areas' do not crop up during the development of these blocks.
* UPL: The company's Mauritius-based subsidiary has raised $400 mln through dollar-denominated
perpetual subordinated bonds at 6.25% yield.
* VODAFONE IDEA: Will not be able to cash out of the BHARTI INFRATEL-Indus Towers merged entity early enough to generate money to help pay off a bigger part of its huge adjusted gross revenue dues by Mar 17, the deadline set by the Supreme Court.
* WIPRO: Wipro Digital, the digital business unit of the company Ltd has acquired Rational Interaction for $52 mln in a bid to enhance its customer experience offering.
* YES BANK: Hinduja Group is partnering with private equity firm Cerberus Capital Management LP in seeking to pick up a stake in the lender.
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