Today's Stock News - 16.12.2019: 09.00 Am
KEEP REFRESH FOR NEXT UPDATE
* ADANI GREEN ENERGY: After selling 205 MW of its operational solar energy portfolio to the Adani Group, the Essel Group has reached an agreement to sell the remaining 480 MW--currently under construction--to the company.
* ADANI PORTS AND SPECIAL ECONOMIC ZONE: Incorporated Adani Pipelines, a fully-owned subsidiary, on Dec 12 with an authorised share capital of 500,000 rupees.
- The company is preparing for a fresh issue in the new year.
* ADANI POWER: The company is looking to refinance existing loans to reduce cost of debt. It is likely to explore international wholesale banking options.
* ADANI TRANSMISSION: The company has received a letter of intent from Maharashtra State Electricity Transmission Co for a 400 kV project in Mumbai, after it bid under tariff-based competitive bidding.
* ASIAN OILFIELD SERVICES: The company has received a letter of award worth 6.4 bln rupees for acquisition of two-dimensional and three-dimensional seismic data of oil blocks in Rajasthan and Gujarat from an oil and gas company.
- Has received a letter of award worth 6.4 bln rupees for acquisition of two-dimensional and threedimensional seismic data of oil blocks in Rajasthan and Gujarat from an oil and gas company.
* ASTER DM HEALTHCARE: The company has decided to shut the operations of its loss-making clinics in Philippines by Dec 31.
* AU SMALL FINANCE BANK: Singapore-based Temasek Holding, via its subsidiary Camas
Investments, has invested 5.25 bln rupees in the bank by converting 10.1 mln warrants.
* BEML: The Centre is likely to sell 28% of its stake in the company through strategic disinvestment and retain 26% after the dilution of its shareholding in the public sector undertaking, a senior company official said.
* BGR ENERGY SYSTEMS: The company got a contract of 44.4 bln rupees from Tamil Nadu Generation and Distribution Corp for expanding a 1x660 MW Supercritical Ennore Thermal Power Station under an engineering, procurement, and construction basis.
* CG POWER AND INDUSTRIAL SOLUTIONS: The BSE and the National Stock Exchange have
imposed fine on the company after it informed that it expects a delay in submission of financial results for Jul-Sep and Apr-Sep.
- Citing regular board approvals for various inter-corporate loans, former non-executive chairman
Gautam Thapar has refuted allegations of fund misuse amid alleged governance lapses coming under the regulatory scanner, according to documents submitted by him to the government.
* COFFEE DAY ENTERPRISES: YES BANK is learnt to have softened its stance and decided to render the "no objection" to the company's decision to sell its Global Village Technology Park to Blackstone.
* DHANUKA AGRITECH: The company's promoter pledged 6.40% stake to YES Bank on Thursday.
* ERIS LIFESCIENCES: The company won't have to pay tax on buyback of shares announced on Jul 5, according to the Taxation Laws (Amendment) Act, 2019.
* FUTURE SUPPLY CHAIN SOLUTIONS: The company has completed the sale of Vulcan Express to Opportune Trading.
* GENERAL INSURANCE CORP OF INDIA: The company has settled with SEBI a case of alleged
violation of insider trading norms by paying 12.3 mln rupees towards settlement charge.
* GMR INFRASTRUCTURE: Three major Indian airlines have opposed the proposed 80-bln-rupee
investment by a consortium of Tata Group and Singapore's sovereign fund GIC in GMR Airports.
* GRANULES INDIA: The company will sell its stake in joint venture Granules Biocause Pharmaceuticals Co in China to partner Hubei Biocause Heilen Pharmaceutical Co for 109 mln yuan (around 1.1 bln rupees).
* GUJARAT NARMADA VALLEY FERTILIZERS & CHEMICALS: Anil Mukim has been appointed as chairman and director of the company.
* HESTER BIOSCIENCES: The board will meet on Wednesday to consider raising funds by way of equity shares, or equity-linked securities or securities convertible into equity shares through qualified institutional placement or preferential allotment.
* HINDUSTAN UNILEVER: GlaxoSmithKline Plc is exploring its exit from the company, early in the New Year.
* INDIAN ENERGY EXCHANGE: The exchange is hopeful of being able to introduce a trading platform for wind and solar power, early next fiscal.
* INDUSIND BANK: Noida-based real estate developer Logix Group has raised 5.4 bln rupees from the bank through a lease rental discounting transaction on two of its commercial office space projects.
* JSW STEEL: National Company Law Appellate Tribunal has approved the company's resolution plan for VARDHMAN INDUSTRIES.
* L&T FIN HOLDINGS: The committee of directors will meet on Wednesday to approve raising funds through issue of cumulative compulsorily redeemable non-convertible preference shares on a private placement basis.
* MAHINDRA & MAHINDRA: Mahindra-Ford joint venture will not cross-badge products for the
domestic market, a top executive of the company has said.
* MANAPPURAM FINANCE: Mutual funds are contesting insider trading charges by Securities and
Exchange Board of India against them for trades in the company.
* MINDA INDUSTRIES: The company has completed acquisition of Germany-based Delvis GmBH and its two wholly-owned subsidiaries--Delvis Products and Delvis Solutions. Delvis GmBH has now become a subsidiary of the company.
* NLC INDIA: Is planning to invest over 170 bln rupees for its thermal power projects and has embarked upon afforestation programme inside and outside the coal mining area in Odisha.
* PI INDUSTRIES: The company has incorporated a wholly-owned subsidiary Jivagro for agrochemicals, including insecticides, fungicides, herbicides and other speciality chemicals business.
* POWER GRID CORP OF INDIA: The company has acquired Rampur Sambhal Transco, a special
purpose vehicle, from REC Transmission Projects Co for 70.6 mln rupees.
* PTC INDIA FINANCIAL SERVICES: Has received 1.45 bln rupees as part of resolution of its stressed loan account in the thermal power segment.
* PUNJAB NATIONAL BANK: The bank's FY19-end gross bad loan divergence was at 26.2 bln rupees.
* PUNJAB & SIND BANK: Raised its three-year marginal cost of funds-based lending rates by 10 basis points to 8.90%.
* RELIANCE HOME FINANCE: Axis Trustee Services has sold 0.6% stake or 2.9 mln shares of the
company at 2.75 rupees on the National Stock Exchange in a bulk deal.
- About 20,000 debenture holders in the company--including individuals, mutual funds and
retirement bodies--are set to take the first hit on their investments as the full repayments of about 30 bln rupees fall due on Jan 3, with little hope of recovery.
* RELIANCE INDUSTRIES: Wholly-owned subsidiary Reliance Strategic Business Ventures Ltd has acquired 51.78% stake in Asteria Aerospace Pvt Ltd for 231.2 mln rupees, the company said in an exchange filing.
* SPICEJET: Air India's Maintenance, Repair and Overhaul arm, Air India Engineering Services, has signed a pan-India contract for maintenance of the company's aircraft.
* STATE BANK OF INDIA: The Competition Commission of India has approved investments by Napean Opportunities LLP and Honey Wheat Investment Ltd in SBI General Insurance Co.
- Global steel giant ArcelorMittal on Friday transferred 400 bln rupees to State Bank of India, the
lead banker, for takeover of the debt-ridden Essar Steel.
* STEEL AUTHORITY OF INDIA: The company has left the prices of its steel bars largely unchanged for December compared with the previous month.
* SUN PHARMACEUTICAL INDUSTRIES: The US Food and Drug Administration has issued a Form 483 with eight observations after it conducted a good manufacturing practice inspection of the company's Halol facility in Gujarat.
- The company, ABBOTT INDIA, ASTRAZENECA PHARMA INDIA, LUPIN and other big drugmakers have come under the scanner of India's drug pricing watchdog for excluding products from the price control regime without first applying for such an exemption.
* TATA MOTORS: Is not looking to reduce workforce due to the ongoing slowdown in the domestic
market, as it expects things to get better amid a wave of new products lined up for the launch over the next few months, a top company official has said.
* TATA POWER: Peak power demand in Delhi in the winter season is expected to touch a record high of 4,800 MW, of which 1,500 MW demand from north and north-west parts of Delhi will be met by Tata Power Delhi Distribution Ltd.
* UNITED BANK OF INDIA: The bank has cut its marginal cost of funds based lending rates on six-month and one-year tenures by 5 basis points each.
* UNITED BREWERIES: The company has received initial observations in an alleged case of cartelisation and manipulation of beer prices involving the company and other beer manufacturers, that is being probed by the Director General of the Competition Commission of India.
* UPL: Has received environment clearance from the government for its 3.53-bln-rupee pesticide unit
expansion project at Ankleshwar, Gujarat.
* VADILAL INDUSTRIES: Appointed Arpit Patel and Associates as the statutory auditor to conduct an independent inquiry into the issues raised by former statutory auditor Deloitte Haskins and Sells LLP.
* VARDHMAN TEXTILES: The company has decided to withdraw a scheme of merger of its subsidiaries-- VMT Spinning Co, VTL Investments, Vardhman Nisshinbo Garments Co Ltd, and Vardhman Acrylics-- with itself.
* YES BANK: The bank expects the third quarter of the current financial year to remain subdued but sees improvement in revenue in the March quarter on the back of government measures.
Our Blog Information Learning purpose only
(Paper Trading Practice for Currency, Equity, Commodity Segment)
