Daily Stock News Today – 13.12.2017
* ADANI ENTERPRISES: The Queensland government in Australia has vetoed a proposal for an A$900 mln (43.9 bln rupees) concessional loan to the company's subsidiary to construct a rail line, according to Queensland government Premier Annastacia Palaszczuk in a post on microblogging website Twitter.
* ADLABS ENTERTAINMENT: Is in talks to raise about 6.50 bln rupees from financial investors as part of a two-pronged transaction that will comprise a sale of fresh shares by the company and a partial exit by existing investor ICICI Ventures.
* ALLAHABAD BANK: The bank will on Jan 17 seek shareholder approval for a 50-mln-share employee share purchase issue.
* ASHOK LEYLAND: Has set up its West African headquarters at Abidjan in Ivory Coast and has launched four new products for the region.
* ASIAN PAINTS: Has acquired 100% stake in Reno Chemicals Pharmaceuticals and Cosmetics for 1.6 bln rupees.
* BAJAJ AUTO: Has launched 2018 Black Pack edition of Pulsar two-wheeler across the 150cc, 180cc and 220cc range.
* BANK OF MAHARASHTRA: Has raised 3.14 bln rupees via a qualified institutional placement.
* BEML: Has launched bucket wheel loader BL30-1 with capacity of 5.4 tn. The loader is designed for maximum equipment utilisation and has a fuel-efficient engine.
* BHARTI AIRTEL: Added 3.15 mln subscribers to its network in October. Warburg Pincus LLC has bought 20% stake in Bharti Telemedia, the direct-to- home subsidiary of the company, for $350 mln.
* CANARA BANK: The board of the bank has approved raising up to 18 bln rupees through Basel III-compliant tier-I bonds, in one or more tranches.
* DALMIA BHARAT: The 100-bln-rupee Dalmia Bharat Group is looking for acquisitions overseas, specifically in Europe, as part of growing its refractory business.
* DR LAL PATHLABS: Subsidiary Paliwal Diagnostics will buy entire stake in Satya Pathology and Diagnostic Centre for up to 20 mln rupees.
* ESCORTS: Plans to increase product offering in the construction equipment space through joint ventures and technical collaborations besides in-house development to cover 90% of market in two years.
* GRASIM INDUSTRIES: Will take Century Textiles and Industries' viscose filament yarn business on lease for 15 years, on an upfront royalty payment of 6 bln rupees.
* HAVELLS INDIA: Plans to set up a new facility in Rajasthan to manufacture consumer durables such as air conditioners, refrigerators, televisions, and washing machines.
* HERO MOTOCORP: A revival in the entry-level bike segment has helped the company, the country's top two-wheeler maker, grow its share of the motorcycle market marginally amid intense competition.
* HCL TECHNOLOGIES: Aims to grow its cyber security vertical by 9-11% in the financial year starting April, compared with 3-4% growth seen so far this year.
* ICICI BANK: Has reduced the interest rate on one-year deposits by 15 basis points to 6.6% per annum.
* IDEA CELLULAR: Added 713,408 subscribers to its network in October. The Aditya Birla Group and Vodafone Group PLC have started talks on the "closing adjustments" of the merger between the company and Vodafone India, and the discussions are focused on how to resolve company's losses incurred since the announcement of the deal in March.
* INFOSYS: Has been issued a show-cause notice by SEBI seeking clarification on whether the company failed to follow proper process for related party transactions and disclosure norms under stock exchange listing agreement.
* INTERGLOBE AVIATION: Two promoter entities of the company will sell 11.2 mln shares or 2.9% of the paid-up equity in the company through an offer for sale on Wednesday and Thursday.
* JK CEMENT: Is planning to add up to eight mln tonne per annum capacity in the next five years, taking the total installed capacity to around 18 MTPA for grey cements.
* JSW STEEL: In the race to acquire strained assets, has come in support of stressed 'legitimate promoters' who have been barred from bidding for their own companies that have been put under the hammer by the National Company Law Tribunal.
* KRIDHAN INFRA: Will increase stake in Vijay Nirman Co through a share subscription agreement to become a majority stakeholder.
* MARUTI SUZUKI INDIA: The company's compact sedan Swift Dzire has not only been holding its own in a segment that has a plethora of models, but has also increased its share despite the stiff competition.
* MONNET ISPAT AND ENERGY: A consortium of Aion Capital Partners and JSW emerged the
strongest contender for acquiring the company, one of the initial 12 companies identified by the Reserve Bank of India for insolvency proceedings.
* MPHASIS: Has strengthened its digital footprint in West Europe by expanding its operation outside Wyde, an Mphasis company, in France.
* NTPC: Is in initial discussions to take full ownership of three coal-fired power projects in Bihar.
* PODDAR HOUSING AND DEVELOPMENT: Board has approved raising 1 bln rupees through non-convertible debentures.
* PINCON SPIRIT: Chairman and Managing Director Monoranjan Roy has resigned from the company.
* PUNJ LLOYD: Has got orders worth 14.5 bln rupees from GAIL (India) and National Highways Authority of India.
* RELIANCE COMMUNICATIONS: Subsidiary Global Cloud Xchange will offer its IP transit solutions to Vietnam based telecom firm CMC Telecom in Hong Kong and Singapore, while the latter will deploy a virtual point of presence for GCX in Hanoi.
* RELIANCE INDUSTRIES: Arm Reliance Jio Infocomm added 7.34 mln subscribers to its network in October. Is considering coming out with an initial public offer of subsidiary Reliance Jio Infocomm and is holding internal talks on the matter. The company termed as speculative reports as it plans to list RJio with officials and I-bankers ruling out such a possibility in the near future.
* RURAL ELECTRIFICATION CORP: Will raise $400 mln through dollar-denominated bonds maturing in three years and is likely to set 3.068% as coupon payable semi-annually.
* SHRIRAM EPC: Will focus on government-backed projects to drive growth, its managing directors said.
* SPICEJET: Will add six flights on three busy routes from Dec 22 to Feb 5 to cater to the surge in demand in the upcoming holiday season.
* SYNDICATE BANK: Has set the floor price for its qualified institutional placement of securities at 88.57 rupees per share.
* TATA CHEMICALS: National Company Law Tribunal has sanctioned the transfer of the company's urea and customised fertilisers business to Yara Fertilisers India on a slump sale basis.
* TATA MOTORS: Will voluntarily recall some its Zest compact sedans and Tiago compact cars made in 2015-16 (AprMar) and 2016-17, respectively, to fix emission issues.
* TVS MOTOR CO: The Warranty Group, a warranty solutions and after-sales services company, will be acquiring a majority stake in its joint venture company with TVS Automobile Solutions, TVS-TWG warranty solutions.
* UNION BANK OF INDIA: Has closed its qualified institutional placement issue and fixed the issue price at 154.65 rupees a share.
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* ADLABS ENTERTAINMENT: Is in talks to raise about 6.50 bln rupees from financial investors as part of a two-pronged transaction that will comprise a sale of fresh shares by the company and a partial exit by existing investor ICICI Ventures.
* ALLAHABAD BANK: The bank will on Jan 17 seek shareholder approval for a 50-mln-share employee share purchase issue.
* ASHOK LEYLAND: Has set up its West African headquarters at Abidjan in Ivory Coast and has launched four new products for the region.
* ASIAN PAINTS: Has acquired 100% stake in Reno Chemicals Pharmaceuticals and Cosmetics for 1.6 bln rupees.
* BAJAJ AUTO: Has launched 2018 Black Pack edition of Pulsar two-wheeler across the 150cc, 180cc and 220cc range.
* BANK OF MAHARASHTRA: Has raised 3.14 bln rupees via a qualified institutional placement.
* BEML: Has launched bucket wheel loader BL30-1 with capacity of 5.4 tn. The loader is designed for maximum equipment utilisation and has a fuel-efficient engine.
* BHARTI AIRTEL: Added 3.15 mln subscribers to its network in October. Warburg Pincus LLC has bought 20% stake in Bharti Telemedia, the direct-to- home subsidiary of the company, for $350 mln.
* CANARA BANK: The board of the bank has approved raising up to 18 bln rupees through Basel III-compliant tier-I bonds, in one or more tranches.
* DALMIA BHARAT: The 100-bln-rupee Dalmia Bharat Group is looking for acquisitions overseas, specifically in Europe, as part of growing its refractory business.
* DR LAL PATHLABS: Subsidiary Paliwal Diagnostics will buy entire stake in Satya Pathology and Diagnostic Centre for up to 20 mln rupees.
* ESCORTS: Plans to increase product offering in the construction equipment space through joint ventures and technical collaborations besides in-house development to cover 90% of market in two years.
* GRASIM INDUSTRIES: Will take Century Textiles and Industries' viscose filament yarn business on lease for 15 years, on an upfront royalty payment of 6 bln rupees.
* HAVELLS INDIA: Plans to set up a new facility in Rajasthan to manufacture consumer durables such as air conditioners, refrigerators, televisions, and washing machines.
* HERO MOTOCORP: A revival in the entry-level bike segment has helped the company, the country's top two-wheeler maker, grow its share of the motorcycle market marginally amid intense competition.
* HCL TECHNOLOGIES: Aims to grow its cyber security vertical by 9-11% in the financial year starting April, compared with 3-4% growth seen so far this year.
* ICICI BANK: Has reduced the interest rate on one-year deposits by 15 basis points to 6.6% per annum.
* IDEA CELLULAR: Added 713,408 subscribers to its network in October. The Aditya Birla Group and Vodafone Group PLC have started talks on the "closing adjustments" of the merger between the company and Vodafone India, and the discussions are focused on how to resolve company's losses incurred since the announcement of the deal in March.
* INFOSYS: Has been issued a show-cause notice by SEBI seeking clarification on whether the company failed to follow proper process for related party transactions and disclosure norms under stock exchange listing agreement.
* INTERGLOBE AVIATION: Two promoter entities of the company will sell 11.2 mln shares or 2.9% of the paid-up equity in the company through an offer for sale on Wednesday and Thursday.
* JK CEMENT: Is planning to add up to eight mln tonne per annum capacity in the next five years, taking the total installed capacity to around 18 MTPA for grey cements.
* JSW STEEL: In the race to acquire strained assets, has come in support of stressed 'legitimate promoters' who have been barred from bidding for their own companies that have been put under the hammer by the National Company Law Tribunal.
* KRIDHAN INFRA: Will increase stake in Vijay Nirman Co through a share subscription agreement to become a majority stakeholder.
* MARUTI SUZUKI INDIA: The company's compact sedan Swift Dzire has not only been holding its own in a segment that has a plethora of models, but has also increased its share despite the stiff competition.
* MONNET ISPAT AND ENERGY: A consortium of Aion Capital Partners and JSW emerged the
strongest contender for acquiring the company, one of the initial 12 companies identified by the Reserve Bank of India for insolvency proceedings.
* MPHASIS: Has strengthened its digital footprint in West Europe by expanding its operation outside Wyde, an Mphasis company, in France.
* NTPC: Is in initial discussions to take full ownership of three coal-fired power projects in Bihar.
* PODDAR HOUSING AND DEVELOPMENT: Board has approved raising 1 bln rupees through non-convertible debentures.
* PINCON SPIRIT: Chairman and Managing Director Monoranjan Roy has resigned from the company.
* PUNJ LLOYD: Has got orders worth 14.5 bln rupees from GAIL (India) and National Highways Authority of India.
* RELIANCE COMMUNICATIONS: Subsidiary Global Cloud Xchange will offer its IP transit solutions to Vietnam based telecom firm CMC Telecom in Hong Kong and Singapore, while the latter will deploy a virtual point of presence for GCX in Hanoi.
* RELIANCE INDUSTRIES: Arm Reliance Jio Infocomm added 7.34 mln subscribers to its network in October. Is considering coming out with an initial public offer of subsidiary Reliance Jio Infocomm and is holding internal talks on the matter. The company termed as speculative reports as it plans to list RJio with officials and I-bankers ruling out such a possibility in the near future.
* RURAL ELECTRIFICATION CORP: Will raise $400 mln through dollar-denominated bonds maturing in three years and is likely to set 3.068% as coupon payable semi-annually.
* SHRIRAM EPC: Will focus on government-backed projects to drive growth, its managing directors said.
* SPICEJET: Will add six flights on three busy routes from Dec 22 to Feb 5 to cater to the surge in demand in the upcoming holiday season.
* SYNDICATE BANK: Has set the floor price for its qualified institutional placement of securities at 88.57 rupees per share.
* TATA CHEMICALS: National Company Law Tribunal has sanctioned the transfer of the company's urea and customised fertilisers business to Yara Fertilisers India on a slump sale basis.
* TATA MOTORS: Will voluntarily recall some its Zest compact sedans and Tiago compact cars made in 2015-16 (AprMar) and 2016-17, respectively, to fix emission issues.
* TVS MOTOR CO: The Warranty Group, a warranty solutions and after-sales services company, will be acquiring a majority stake in its joint venture company with TVS Automobile Solutions, TVS-TWG warranty solutions.
* UNION BANK OF INDIA: Has closed its qualified institutional placement issue and fixed the issue price at 154.65 rupees a share.
