Daily Stock News Today – 15.01.2018

Daily Stock News Today – 15.01.2018

CLICK HERE




* 3i INFOTECH: 3i Infotech Financial Software Inc, a step-down subsidiary of the company, merged with 3i Infotech Inc, another subsidiary of the company, effective Dec 31.

* BAJAJ AUTO: Is seeking to increase its market share from 17-18% to 24-25% this year.

* BANK OF INDIA: Which came under the Reserve Bank of India's prompt corrective action framework recently, has begun the New Year on a strong note, recovering as much as 20 bln rupees over the last fortnight.
 - Has clarified that it does not have any plan of levying charges on those services, which are available free of charges currently.

* BHARTI AIRTEL: A Tanzanian probe found that the local unit of the company was originally transferred from the state illegally, and the government will start talks to retake what it says is its rightful share of the business.

* BODHTREE CONSULTING: Has entered into a pact with Magadh University to provide a "digital university platform".

* BUTTERFLY GANDHIMATHI APPLIANCES: Reliance Alternative Investment Fund - Private Equity Scheme 1 sold 850,000 shares or 4.75% stake at 580.67 rupees apiece in the company in a bulk deal on the National Stock Exchange.

* GAIL INDIA: The board of directors approved payment of interim dividend at 7.65 rupees per share on Jan 20.

* GAYATRI PROJECTS: Afrin Dia sold 7 mln shares or 3.9% stake in the company through the open market.
 - Societe Generale bought 2.5 mln shares or 1.41% stake in the company at 217.35 rupees apiece, in a bulk deal on BSE.

* GMR INFRASTRUCTURE: Dunearn Investments (Mauritius) sold 128.24 mln shares, or 2.12% stake, in the company through the open market on Wednesday.

 * GRANULES INDIA: The Reserve Bank of India 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.

* GREENLAM INDUSTRIES: Sundaram Rural India Fund bought 357,000 shares, or 1.48% stake, in the company at 1,315 rupees apiece through a bulk deal on BSE.

* HATHWAY CABLE & DATACOM: Smallcap World Fund Inc sold 4.46 mln shares or 0.53% stake in the company at 40.40 rupees apiece in a bulk deal on the National Stock Exchange.

* HOUSING DEVELOPMENT & INFRASTRUCTURE: The board has approved the allotment of 2 bln warrants to promoter Sarang Wadhawan at an issue price of 70.50 rupees a warrant.

* HOUSING DEVELOPMENT AND FINANCE CORP: The committee of directors of the company approved raising 111.04 bln rupees through preferential allotment of shares to 10 investors, and 18.96 bln rupees through a qualified institutional placement.

* HPL ELECTRIC & POWER: Has raised 1.3 bln rupees through commercial papers.

* IDEA CELLULAR: The company and Vodafone Group Plc's Indian unit are likely to start operating as a single unit from April.

* IDFC BANK: The bank's board has approved the merger of CAPITAL FIRST with itself, it informed exchanges.  Has revised some of its lending rates based on marginal cost of funds effective Jan 8.

* IRB INFRASTRUCTURE: Italian road operator Atlantia is in exclusive talks with the company to acquire its operational road assets portfolio in a $2-bln deal.

* JAIPRAKASH POWER VENTURES: Tata Group-backed Resurgent Power has emerged as frontrunner to buy the company after lenders, who own majority shares, put it on the block.

* JAYASWAL NECO INDUSTRIES: STATE BANK OF INDIA had filed an insolvency plea against the company before the Mumbai bench of National Company Law Tribunal.

* JK CEMENT: Has rolled out a group-wide transformation project--Nirmaan—to develop in-depth
understanding of various segments and applications to be able to come up with innovative products and solutions.

* LANCOR HOLDINGS: The board has approved a loan of 1.3 bln rupees from STATE BANK OF INDIA'S Chennai branch.

* MMTC: Has plans to put in place a full-fledged portal for transaction of gold and silver.

* NARAYANA HRUDAYALAYA: The company completed the buyback of the remaining 71.4% stake in Health City Cayman Islands on Friday for $32.26 mln rupees.

* OIL & NATURAL GAS CORP: A Pawan Hans helicopter, belonging to the company, crashed into the Arabian Sea on Saturday, soon after taking off from Juhu in Mumbai.

* OPTIEMUS INFRACOM: Aims to garner 10% share of the domestic premium smartphone market by the end of this year.

* POWER GRID CORP OF INDIA: Has acquired ERSS XXI Transmission, a special purpose vehicle project to establish eastern region strengthening scheme-XXI, from REC Transmission Projects.

* RELIANCE INDUSTRIES: Is set to sign a memorandum of understanding with Israeli tech major mPrest, a global technology provider, during the visit of Israeli Prime Minister Benjamin Netanyahu to India.

* RELIGARE ENTERPRISES: Has raised the value of its stake in its health insurance company to be sold to True North Managers to 13.5 bln rupees, following delay in the process.

* RURAL ELECTRIFICATION CORP: Plans to raise at least 5 bln rupees through bonds maturing in Apr 2021 and has sought bids from 1100 IST to 1115 IST on Monday.
 - Has signed an agreement to provide a 104.53-bln-rupee loan to Tamil Nadu Generation and Distribution Corp.

* SHAH ALLOYS: United India Insurance Co sold 100,000 shares or 0.51% stake in the company at 18.03 rupees a share in a bulk deal on the National Stock Exchange.

* TATA CHEMICALS: Yara International ASA has completed the acquisition of the company's urea business at Babrala in Uttar Pradesh for 26.8 bln rupees.

* TATA CONSULTANCY SERVICES: Modell's Sporting Goods will deploy TCS Omnistore, a unified store commerce suite, to transform its stores and deliver omni-channel to customers.
 - Is poised to achieve double-digit growth in 2018-19, which will be the fastest since the company
reported a 15% growth in 2014-15, Chief Operating Officer N. Ganapathy Subramaniam said.

* TATA MOTORS: Said it is offering free insurance along with an exchange benefit of 15,000-20,000 rupees till Jan 20 on five of its car models.
 - Arm Jaguar Land Rover is mulling a new software hub at Shannon in Ireland as part of its wider plans to invest in electric and driver-less technology.

* TEAMLEASE SERVICES: The Reserve Bank of India has barred foreign portfolio investors from purchasing shares of the company, as the investment trigger limit of 24% of the company's paid-up capital has been reached.

* TRIGYN TECHNOLOGIES: The Company won an order of up to $1.5 mln rupees from International Fund for Agriculture Development, Italy, to provide consultancy services.

* VEDANTA: Cairn India is planning to invest 370 bln rupees to ramp up crude production at its Barmer oil fields in Rajasthan.
 - Has asked the government to resolve retrospective tax issues to give comfort to foreign investors to
invest in the almost stagnant domestic oil and gas exploration sector.

* VENUS REMEDIES: The Export-Import Bank of India declared the company and its directors as wilful defaulters.

* VIAAN Industries: Has signed contracts with three new franchise owners ahead of the second season of the India Poker League's India edition.

* YES BANK: The bank and European Investment Bank have initiated green financing worth $400 mln, as part of their co-financing programme, to increase lending to renewable power projects across India.