Daily Stock News Today – 14.12.2017
* BHARTI AIRTEL: Societe Generale bought 4 mln shares or 0.1% stake in the company from Morgan Stanley France SAS through a block deal on BSE. Will take harsh and appropriate actions against erring retail partners who open accounts without following due process.
* BHARAT HEAVY ELECTRICALS: Has won two contracts worth 76.17 mln rupees from POWER GRID CORP OF INDIA for the supply and installation of insulators in some transmission lines.
* BINANI INDUSTRIES: Edelweiss Asset Reconstruction Co has urged the Kolkata bench of the National Company Law Tribunal to reject around 20 bln rupees worth claims raised by IDBI BANK, BANK OF BARODA and STATE BANK OF INDIA in the insolvency case against the company's arm, Binani Cement.
* CAMBRIDGE TECHNOLOGY ENTERPRISES: Is looking at acquisitions in areas of big data and data sciences.
* CHOLAMANDALAM INVESTMENT AND FINANCE CO: Has tied up with JCB India to help the latter finance its construction equipment and machinery products.
* CORPORATION BANK: The Reserve Bank of India has put the bank under Prompt Corrective Action on account of its high non-performing assets and requirement to raise capital.
* ESCORTS: Subsidiary Escorts Construction Equipment has launched a pick-n-carry crane and a 12-tonne soil compactor.
* HDFC BANK: Has brought down its deposit rate from 7% to 6.75%.
* ICICI BANK: Has brought down its one-year deposit rate from 6.75% to 6.60%.
* INDIABULLS REAL ESTATE: Moody's Investors Service has put the company's B1 corporate family rating under review for a possible downgrade because of its weak financial profile following the acquisition of Indiabulls Properties Investment Trust.
* INDUSIND BANK: The Reserve Bank of India said it has imposed a penalty of 30 mln rupees on IndusInd Bank for non-compliance with "Income Recognition and Asset Classification norms, and contravention of regulatory restrictions pertaining to non-fund based facilities".
* INTERGLOBE AVIATION: The non-retail portion of the company's offer for sale was subscribed 1.12 times, according to data available on the National Stock Exchange. The company-led IndiGo, JET AIRWAYS (INDIA), and SPICEJET are among 18 applicants who seek to operate flights under the second phase of regional connectivity scheme.
* JAYPEE INFRATECH: SBICAP Trustee Co has invoked 100 mln pledged shares of the company, representing 7.2% stake in the company.
* L&T FINANCE HOLDINGS: Has extended a loan of 30 bln rupees towards three projects of realty developer Satellite Group.
* MAHINDRA LIFESPACE DEVELOPERS: Jaipur-based Mahindra World City, a joint venture of the company with Rajasthan State Industrial Development and Investment Corp, has added 10 customers over the past year.
* MANPASAND BEVERAGES: The Reserve Bank of India has notified that foreign portfolio investors can invest up to 49% of the paid-up capital in the company under the portfolio investment scheme, against a cap of 24% earlier.
* MARICO: Plans to launch a series of brands in the near future that would be sold mostly through online channels and some modern trade channels but would be promoted entirely through digital platforms.
* MARUTI SUZUKI INDIA: Plans to increase prices across its models by up to 2% from January in order to partially offset the rise in input costs.
* MEP INFRASTRUCTURE DEVELOPERS: The National Highways Authority of India has made the first milestone payment of 20% of the physical progress for the Gujarat highway project on Tuesday, according to the concession agreement.
* NCC: The board has approved raising up to 5.5 bln rupees through the issuance of securities.
* POWER MECH PROJECTS: The board has approved an investment up to 1 mln rupees in the proposed joint venture entity with BSCPL Infrastructure.
* PVR: Signed a strategic deal with CJ 4DPLEX to launch 16 4DX screens in India by the end of 2019.
* RURAL ELECTRIFICATION CORP: Has raised $400 mln through dollar-denominated bonds.
* SHRIRAM TRANSPORT FINANCE CO: Societe Generale bought 1.5 mln shares or 0.67% stake in the company in a bulk deal on the BSE.
* SREI INFRASTRUCTURE FINANCE: Attivo Economic Zone, an arm of the company, has signed a memorandum of understanding with the Telangana government to set up an infrastructure equipment manufacturing park, a release from the state government.
* TATA COMMUNICATIONS: Has signed a draft agreement to transfer 773 acres of surplus land to government-owned Hemisphere Properties India.
* TATA MOTORS: Is working hard to change its 'taxi maker' image.
* TATA STEEL: The board will meet on Dec 18-19 to consider a proposal for raising funds.
* UNION BANK OF INDIA: Has completed resolution of two cases on the Reserve Bank of India's second list of stressed accounts, outside the ambit of insolvency and bankruptcy code, just ahead of the central bank's deadline.
CLICK HERE
*********************************************************************************
* BHARAT HEAVY ELECTRICALS: Has won two contracts worth 76.17 mln rupees from POWER GRID CORP OF INDIA for the supply and installation of insulators in some transmission lines.
* BINANI INDUSTRIES: Edelweiss Asset Reconstruction Co has urged the Kolkata bench of the National Company Law Tribunal to reject around 20 bln rupees worth claims raised by IDBI BANK, BANK OF BARODA and STATE BANK OF INDIA in the insolvency case against the company's arm, Binani Cement.
* CAMBRIDGE TECHNOLOGY ENTERPRISES: Is looking at acquisitions in areas of big data and data sciences.
* CHOLAMANDALAM INVESTMENT AND FINANCE CO: Has tied up with JCB India to help the latter finance its construction equipment and machinery products.
* CORPORATION BANK: The Reserve Bank of India has put the bank under Prompt Corrective Action on account of its high non-performing assets and requirement to raise capital.
* ESCORTS: Subsidiary Escorts Construction Equipment has launched a pick-n-carry crane and a 12-tonne soil compactor.
* HDFC BANK: Has brought down its deposit rate from 7% to 6.75%.
* ICICI BANK: Has brought down its one-year deposit rate from 6.75% to 6.60%.
* INDIABULLS REAL ESTATE: Moody's Investors Service has put the company's B1 corporate family rating under review for a possible downgrade because of its weak financial profile following the acquisition of Indiabulls Properties Investment Trust.
* INDUSIND BANK: The Reserve Bank of India said it has imposed a penalty of 30 mln rupees on IndusInd Bank for non-compliance with "Income Recognition and Asset Classification norms, and contravention of regulatory restrictions pertaining to non-fund based facilities".
* INTERGLOBE AVIATION: The non-retail portion of the company's offer for sale was subscribed 1.12 times, according to data available on the National Stock Exchange. The company-led IndiGo, JET AIRWAYS (INDIA), and SPICEJET are among 18 applicants who seek to operate flights under the second phase of regional connectivity scheme.
* JAYPEE INFRATECH: SBICAP Trustee Co has invoked 100 mln pledged shares of the company, representing 7.2% stake in the company.
* L&T FINANCE HOLDINGS: Has extended a loan of 30 bln rupees towards three projects of realty developer Satellite Group.
* MAHINDRA LIFESPACE DEVELOPERS: Jaipur-based Mahindra World City, a joint venture of the company with Rajasthan State Industrial Development and Investment Corp, has added 10 customers over the past year.
* MANPASAND BEVERAGES: The Reserve Bank of India has notified that foreign portfolio investors can invest up to 49% of the paid-up capital in the company under the portfolio investment scheme, against a cap of 24% earlier.
* MARICO: Plans to launch a series of brands in the near future that would be sold mostly through online channels and some modern trade channels but would be promoted entirely through digital platforms.
* MARUTI SUZUKI INDIA: Plans to increase prices across its models by up to 2% from January in order to partially offset the rise in input costs.
* MEP INFRASTRUCTURE DEVELOPERS: The National Highways Authority of India has made the first milestone payment of 20% of the physical progress for the Gujarat highway project on Tuesday, according to the concession agreement.
* NCC: The board has approved raising up to 5.5 bln rupees through the issuance of securities.
* POWER MECH PROJECTS: The board has approved an investment up to 1 mln rupees in the proposed joint venture entity with BSCPL Infrastructure.
* PVR: Signed a strategic deal with CJ 4DPLEX to launch 16 4DX screens in India by the end of 2019.
* RURAL ELECTRIFICATION CORP: Has raised $400 mln through dollar-denominated bonds.
* SHRIRAM TRANSPORT FINANCE CO: Societe Generale bought 1.5 mln shares or 0.67% stake in the company in a bulk deal on the BSE.
* SREI INFRASTRUCTURE FINANCE: Attivo Economic Zone, an arm of the company, has signed a memorandum of understanding with the Telangana government to set up an infrastructure equipment manufacturing park, a release from the state government.
* TATA COMMUNICATIONS: Has signed a draft agreement to transfer 773 acres of surplus land to government-owned Hemisphere Properties India.
* TATA MOTORS: Is working hard to change its 'taxi maker' image.
* TATA STEEL: The board will meet on Dec 18-19 to consider a proposal for raising funds.
* UNION BANK OF INDIA: Has completed resolution of two cases on the Reserve Bank of India's second list of stressed accounts, outside the ambit of insolvency and bankruptcy code, just ahead of the central bank's deadline.
