Today's Stock News - 13.03.2020 : 09.00 Am
* 63 MOONS TECHNOLOGIES: The National Company Law Appellate Tribunal has dismissed a plea by the government to supersede the board of the company – formerly Financial Technologies (India).
* ALLAHABAD BANK: Will reduce the marginal cost of fund-based lending rates on overnight and onemonth loans by 5 basis points each.
* ASHOK LEYLAND: Will pay interim dividend of 0.50 rupee a share.
* ASIAN HOTELS (NORTH): Indi Stock has bought 120,000 shares or 0.62% stake in the company at 60.05 rupees apiece through a bulk deal on BSE.
* BANDHAN BANK: The National Stock Exchange has removed YES BANK from the Nifty Bank index with effect from Mar 27, and added the bank.
* BHARAT FORGE: The company has announced a voluntary retirement scheme for eligible employees who have worked for at least 10 years.
* BHARAT PETROLEUM CORP: Will pay interim dividend of 16.50 rupees a share.
* BHARTI AIRTEL: Fitch Ratings has maintained its stable outlook on the company as it believes equity infusion and tariff increases carried out by the company will be more than sufficient to clear its regulatory dues stemming from the dispute over the company's adjusted gross revenue.
-The company, through its wholly-owned subsidiary, has acquired a strategic 10% stake in
Spectacom Global.
* CEAT: Will pay interim dividend of 12 rupees a share.
* CERA SANITARYWARE: Nalanda India Equity Fund has bought 71,685 shares or 0.6% stake in the company at 2,349.92 rupees apiece through a bulk deal on the National Stock Exchange.
* CESC VENTURES: The company has acquired 8.49% stake in Peel-Works Pvt Ltd for 209.9 mln rupees.
* CIPLA: The company will pay dividend of 4 rupees a share.
* COAL INDIA: Will pay interim dividend of 12 rupees a share.
* DEWAN HOUSING FINANCE CORP: The central bank-appointed administrator at the company has ordered a transaction audit at the non-bank lender after allegations of money laundering surfaced in the aftermath of the regulatory action on YES BANK.
* DWARIKESH SUGAR INDUSTRIES: BAJAJ FINANCE has sold 5.11 mln shares or 2.71% stake in the company at 18.80 rupees apiece though a bulk deal on BSE.
* EIH: The company has cancelled its board meeting scheduled for Friday, to consider interim dividend, in view of the prevailing uncertainty in the travel, tourism and hospitality industries after the World Health Organization classified the new coronavirus as a 'pandemic'.
* ESCORTS: India Ratings has revised the company's outlook to stable from positive.
* GHCL: BAJAJ FINANCE has sold 601,168 shares or 0.6% stake in the company at 109.98 rupees apiece through a bulk deal on the National Stock Exchange.
* GMR INFRASTRUCTURE: Promoter GMR Enterprises bought total 14.50 mln shares or 0.24% stake in the company through open market on Monday and Thursday.
* GODREJ AGROVET: PG Family Trust sold 350,000 shares or 0.2% stake in the company at 429.85 rupees per share via block deal on BSE.
* GODREJ INDUSTRIES: PG Family Trust sold 265,000 shares or 0.07% stake in the company at 378.80 rupees per share, via block deal on BSE.
* HINDALCO INDUSTRIES: Has raised the prices of its aluminium ingots, billets and wire rods by more than 1% from Thursday. On Tuesday, the company had cut prices of the products by more than 2%.
* HINDUSTAN COPPER: Has slashed prices of its products by nearly 6% for the month of March. The rates of these products are now at their lowest levels since September.
* HINDUSTAN UNILEVER: The company lost over 340 basis points in skin cleansing category over the past two years dragged by sharp decline in two of its largest brands--Lux and Lifebuoy--that together accounts for a quarter of the market.
* IIFL FINANCE: The company received a licence from the Reserve Bank of India on Wednesday to carry out non-banking financial activity. The company also said its merger with India Infoline Finance will be effective after the requisite forms are filed with the Registrar of Companies by Mar 31.
* INDIAN HOTELS CO: Promoter Tata Sons bought 16.6 mln shares, representing 1.4% stake, in the company at 107.40 rupees per share through a bulk deal on the National Stock Exchange.
* INFOSYS: The company has received an order from Siemens to deploy its digital learning and talent transformation platform Wingspan.
-Merrill Lynch India Equities Fund (Mauritius) has sold 400,000 shares of the company at 648
rupees apiece through a block deal on BSE.
* JET AIRWAYS (INDIA): Committee of creditors will ask the bankruptcy court for a two-month extension as they have failed to get a firm bid for the airline.
* JYOTHY LABS: Will pay interim dividend of 3 rupees a share.
* LAKSHMI VILAS BANK: The bank said depositors' money is safe with the bank.
* LAURUS LABS: Will pay interim dividend of 1.50 rupees a share.
* SHAILY ENGINEERING PLASTICS: DSP Emerging Stars Fund has sold 129,857 shares or 1.56% stake in the company at 380 rupees apiece through a bulk deal on BSE.
* SPICEJET: The company is better placed to weather the headwinds the domestic airline industry is facing due to the spread of coronavirus, Chairman and Managing Director Ajay Singh said.
* STATE BANK OF INDIA: Has secured board approval to buy 7.25 bln shares of YES BANK at 10
rupees apiece.
-The bank will be joined by private lenders ICICI BANK, HDFC BANK, AXIS BANK and KOTAK
MAHINDRA BANK as well as investors Radhakishan Damani, Rakesh Jhunjhunwala and the Azim Premji Trust in the rescue plan for YES BANK to invest more than 120 bln rupees.
-Credit Default Swaps of ICICI BANK and the bank, instruments that act as shields against likely
default on outstanding debt securities by an issuer, surged more than 10 percentage points in the past two weeks.
* SUN PHARMACEUTICAL INDUSTRIES: Board will meet on Tuesday to consider a proposal to buy back fully paid-up equity shares.
* SUPREME PETROCHEM: Will buy back up to 4.1 mln shares at not over 185 rupees a share, a premium of 30.6% to Thursday's closing price of 141.65 rupees.
* SYNDICATE BANK: Will keep its marginal cost of funds-based lending rate unchanged in the range of 7.50-8.15%.
* TATA MOTORS: Tata Sons has bought 18.5 mln shares or 3.6% stake in Tata Motors DVR 'A' Ord at 43.15 rupees apiece via a bulk deal on the National Stock Exchange.
* TATA POWER CO: Promoter Tata Sons has bought 13.9 mln shares, representing 0.5% stake, in the company at 38.72 rupees per share through a bulk deal on the National Stock Exchange.
* TATA STEEL: Promoter Tata Sons has bought 7.7 mln shares or 0.7% stake in the company at 287.44 rupees a share through a bulk deal on the National Stock Exchange.
* VEDANTA: Expects production at its alumina refinery in Lanjigarh to rise to 1.8 mln tn in the current financial year from 1.5 mln tn the previous year.
* WIPRO: The company has announced it has entered into an agreement with SAP to co-develop solutions for the retail and fashion industry.
* WOCKHARDT: The board's capital raising committee will meet on Mar 30 to consider extension of the date of redemption of 160 mln non-convertible cumulative redeemable preference shares held by promoter group entity Khorakiwala Holdings & Investments Pvt Ltd to such date as may be decided at the meeting.
* YES BANK: Investors keen on buying a piece of the bank are insisting on a detailed forensic audit of the bank in the light of the Enforcement Directorate and Central Bureau of Investigation probes against founder Rana Kapoor.
-Anil Ambani-led Reliance Group said its entire debt from the bank is fully secured and was availed
in the ordinary course of business.
-Life Insurance Corp is reluctant to raise its holding in the bank although the Reserve Bank of India
and the finance ministry are keen that it buys an additional 4-5% stake in the troubled private lender.
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