Today's Stock News - 16.03.2020 : 09.00 Am
* A2Z INFRA ENGINEERING: 8 Square Capital has sold 1.38 mln shares or 0.78% stake in the company at 4.14 rupees apiece through a bulk deal on the National Stock Exchange, data from the bourse showed.
* ADF FOODS: Aditya Birla Finance has sold 150,000 shares or 0.75% stake in the company at 154.51 rupees apiece through a bulk deal on the National Stock Exchange, data from the bourse showed.
* ASIAN HOTELS NORTH: Venus India Asset-Finance has sold 300,000 shares or 1.5% stake in Asian Hotels (North) at 64 rupees apiece through a bulk deal on the National Stock Exchange, data from the bourse showed.
* AXIS BANK: The board has approved investing up to 6 bln rupees in YES BANK.
* BAJAJ FINANCE: Has sold 2.9 mln shares or 1.2% stake in TRIVENI ENGINEERING & INDUSTRIES at 37.27 rupees apiece via a bulk deal on the National Stock Exchange.
-Has sold 0.5% stake or 1.5 mln shares of ASHOKA BUILDCON at 50.60 rupees a share through a
bulk deal on the National Stock Exchange, data on the bourse showed.
* BANDHAN BANK: The board has approved investing 3 bln rupees in YES BANK, through the
acquisition of 300 mln shares at 10 rupees a share.
* COFFEE DAY ENTERPRISES: The family of late Coffee Day founder V.G. Siddhartha has put most of their personal assets, including 10,000 acres of plantations, for sale to repay lenders and address the fallout of the investigation into the entrepreneur's suicide last year.
* CONTAINER CORP OF INDIA: The disinvestment process of the company has hit a roadblock, with the railway ministry valuing the cost of its land leased to the company at 165 bln rupees and private container companies objecting to any move by the government to "sell" the land to the company at subsidised rates, raising multiple red flags to the plans.
* CORPORATION BANK : Will reduce its marginal cost of funds-based lending rates by 10 basis points on most tenures from Sunday.
* CREDITACCESS GRAMEEN: Raised 170 mln rupees by issuing bonds to Water Credit Investment Fund.
* DEWAN HOUSING FINANCE CORP: Creditors to the company are examining the possibility of
adjusting the fixed deposits of its customers against loans outstanding after certain depositors approached the administrator of the bankrupt mortgage lender.
* DHANLAXMI BANK: EASF Small Finance Bank has bought 1.46 mln shares or 0.58% stake in the bank at 10.14 rupees apiece through a bulk deal on the National Stock Exchange.
* EDELWEISS FINANCIAL SERVICES: The promoter has pledged 9 mln shares of the company.
* ESCORTS: India Ratings and Research has withdrawn long-term issuer rating of 'IND AA-' it had
assigned to the company.
* FEDERAL BANK: Will reduce its marginal cost of funds-based lending rates by 10 basis points across tenures from Monday, the bank's website showed.
-The board of the bank on Saturday approved investment of 3 bln rupees in YES BANK through the
acquisition of 300 mln shares at 10 rupees apiece.
* GHCL: BAJAJ FINANCE has sold 1.8 mln shares or 1.9% stake in the company at 88.06 rupees apiece through a bulk deal on the National Stock Exchange.
* GLAXOSMITHKLINE CONSUMER HEALTHCARE: The company's board will meet on Apr 1 to consider the record date for issuance of shares by HINDUSTAN UNILEVER to shareholders of the
company.
* GTL INFRASTRUCTURE: Stringent travel restrictions on account of the coronavirus pandemic will affect visits by the company's technicians to tower sites for maintenance as well as diesel filling.
* HDFC BANK: Reduced its retail prime lending rate and base rate by 20 basis points each.
* HOUSING DEVELOPMENT FINANCE CORP: Will invest 10 bln rupees in YES BANK through thepurchase of 1 bln shares.
* HOUSING AND URBAN DEVELOPMENT CORPORATION: The company has told exchanges that an interest payment of 42.3 mln rupees due to its bond holders is stuck with YES BANK.
* ICICI BANK: Will invest 10 bln rupees in YES BANK's shares at 10 rupees per share, which will likely result in the bank holding over 5% equity stake in the latter.
* IND-SWIFT LABORATORIES: The US Food and Drug Administration has cleared the company's
manufacturing facility at Derabassi, Punjab.
* INDIABULLS HOUSING FINANCE: Following a media report, the company has clarified that no
Central Bureau of Investigation raid was conducted on Indiabulls Group or any of its offices.
-The company as well as its promoters do not have any outstanding term loans from YES BANK.
* INDIAN ENERGY EXCHANGE: Amansa Investments has sold 4.73 mln shares or 1.6% stake in the company at 144.53 rupees apiece through a bulk deal on the National Stock Exchange.
* INDOSTAR CAPITAL: The Competition Commission of India has approved the open offer of BCP V Multiple Holdings Pte to shareholders of the company which was triggered on account of allotment of securities and purchasing shares of the company by BCP.
* INFOSYS: The company's wholly-owned subsidiary Infosys Nova Holdings LLC has completed the acquisition of 100% stake in Simplus, one of the growing Salesforce Platinum Partners in the US and Australia, for $200 mln.
* INOX LEISURE: The company commenced commercial operations at a multiplex in Lucknow on
Saturday.
* JAMNA AUTO INDUSTRIES: Promoter SW Farms acquired 1 mln shares or 0.25% stake in the
company through the open market.
* JET AIRWAYS INDIA: The resolution professional of the company has moved the National Company Law Tribunal to seek an extension for the corporate insolvency resolution process.
* KOTAK MAHINDRA BANK: The board has approved investing 5 bln rupees in YES BANK.
* KRBL: Income tax demand for assessment year 2010-11 (Apr-Mar) to 2016-17 has been reduced to 1.01 bln rupees, including interest of 389.3 mln rupees, as against the earlier demand of 12.69 bln rupees.
* MAHANAGAR TELEPHONE NIGAM: The company will make all future payments to some
bondholders through an escrow account with Bank of India instead of YES BANK, due to the withdrawal limit of 50,000 rupees imposed by the government on the latter.
* MANAPPURAM FINANCE: Has issued warning letters to two of its employees for trading in shares of the company during the window closure period under the Securities and Exchange Board of India's Prohibition of Insider Trading Regulations, 2015.
* NATIONAL ALUMINIUM CO: Has cut prices of aluminium ingots by more than 2% with effect from Thursday.
* NILKAMAL: Will pay interim dividend of 10 rupees per share.
* NMDC: Has cut prices of its iron ore products by 50 rupees per tn for March supplies with immediate effect, a source told Cogencis.
* PRESTIGE ESTATES PROJECTS: Will pay interim dividend of 1.50 rupees a share.
* PUNJAB & SIND BANK: Has reduced its marginal cost of funds based lending rate by 5-10 basis points across tenures.
* PUNJ LLOYD: Prudent ARC and a US-based fund have submitted bids for the company, setting up a contest for the takeover of the financially stressed construction company whose founder Atul Punj offered a settlement to bankers last month to reclaim the company from them.
* PVR: Has received an operating licence to open four new screens at PVR Treasure Island Mall in Indore.
* RASHTRIYA CHEMICALS & FERTILIZERS: ICRA has cut the company's long term rating to AAfrom AA.
* RITES: Has received a consulting order of 600 mln rupees from the government of Kerala for conducting an independent quality audit for Kerala Infrastructure Investment Fund Board projects.
* SHANKARA BUILDING PRODUCTS: Will pay interim dividend of 2 rupees/share.
* STATE BANK OF INDIA: The bounce in equities may have come in time for high net worth individuals who had leveraged their portfolio to subscribe to the initial public offering of subsidiary SBI Cards and Payments Services, and would have faced high losses when the shares of the company list on Monday.
* SUN PHARMACEUTICAL INDUSTRIES: US-based arm Taro Pharmaceuticals has received the US Food and Drug Administration's approval for a generic of Evoclin drug.
* SUNTECK REALTY: The company has raised 250 mln rupees by issuing commercial papers at an annual coupon of 7.95%.
* SUZLON ENERGY: The company's board has given an in-principle approval for restructuring of bonds.
* TATA MOTORS DVR: Public shareholder Societe Generale has sold 2.8 mln shares, representing 0.6% stake, in Tata Motors DVR 'A' Ord at 47.04 rupees per share through a bulk deal on the National Stock Exchange.
-Has asked its staff in office-based roles at headquarters and regional offices to work from home with
effect from today in the wake of the coronavirus pandemic, according to an internal memo by the company's Managing Director and CEO Guenter Butschek.
* TATA STEEL: The company on Friday said its committee of directors had approved raising 6.7 bln
rupees through issuance of debentures to identified investors on a private placement basis.
* THERMAX: Will pay interim dividend of 7 rupees a share.
* TRANSFORMERS AND RECTIFIERS INDIA: The company has received an order worth 1.3 bln rupees from POWER GRID CORP OF INDIA for supply and service of transformers.
* TRF: Public shareholder Edelweiss Custodial Services sold 131,325 shares or 1.2% stake in the company at 53.83 rupees per share through a bulk deal on the National Stock Exchange.
* VARROC ENGINEERING: Reliance Mutual Fund has bought 1.3 mln shares or 0.95% stake in the
company at 232 rupees apiece through a bulk deal on BSE.
* WIPRO: The company announced a global strategic partnership with PLEXIS Healthcare Systems.
-The Tata Group and the company have recommended, in some cases mandated, work from home
for their employees in response to the Covid-19 outbreak.
* WONDERLA HOLIDAYS: The company has decided to temporarily shut its amusement park in
Bengaluru during Mar 14-20 in view of the reported coronavirus cases in Karnataka.
* YES BANK: The government has notified the reconstruction scheme for the bank, after it was approved by the Union Cabinet on Friday.
-The Central Bureau of Investigation has registered a second case against former managing director
and chief executive officer Rana Kapoor and his wife with respect to alleged malpractices in loans advanced to Gautam Thapar, former promoter of CG POWER AND INDUSTRIAL SOLUTIONS.
-The bank has raised 100 bln rupees through the issue of 10 bln shares to a consortium of lenders led
by STATE BANK OF INDIA.
-After being placed under a moratorium due to weak capital position, and declaring a huge loss for
Oct-Dec, the bank has fully written down and extinguished Basel-III compliant additional tier-I bonds worth 84.15 bln rupees.
-On Saturday asked its shareholders--those holding over 100 shares of the bank--to exercise caution
in view of the three-year lock-in that will be imposed on them.
-The Enforcement Directorate has summoned Reliance Group Chairman Anil Ambani in connection
with the ongoing money-laundering probe against the bank's co-founder and former chief executive officer Rana Kapoor. The group is among the largest borrowers from the bank, with exposure of around 140 bln rupees.
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