Daily Stock News Today – 10.11.2017
* AUROBINDO PHARMA: The board has decided to pay an interim dividend of 1.50 rupees per share.
* BEML: Is looking to get into the manufacturing of underground mining equipment. The defence public sector utility's construction and mining vertical mostly manufactures open cast mining equipment.
* BHARTI AIRTEL: Swedish phone-app developer True Software Scandinavia AB is in talks with wireless operators, including the company, to expand its fast-growing Truecaller spam-filtering service in Africa.
* CADILA HEALTHCARE: Zydus Cadila and Intas Pharmaceuticals are under the scanner of the
pharmaceutical regulator for allegedly launching a combination drug to treat hypertension without mandatory prior approval.
* CORPORATION BANK: Has set 8.02% coupon on its Basel III-compliant tier-II bond.
* ELECTROSTEEL STEELS: Shareholders of the company, which is currently undergoing corporate
insolvency resolution process, have disapproved the reappointment of a whole-time director of the company.
* GMR INFRASTRUCTURE: Said it was not involved in attempts of tax avoidance in any country as alleged in a report by The Indian Express newspaper, based on leak of data from the 'Paradise Papers'.
* GRASIM INDUSTRIES: The Delhi High Court has rejected plea by the company and GUJARAT
ALKALIES & CHEMICALS, seeking an extension on anti-dumping duty on phosphoric acid imported from Taiwan and Israel.
* IDFC BANK: Is set to issue 65 mln Visa virtual cards to MobiKwik users in the first phase, after
announcing a tie-up to offer co-branded virtual prepaid card.
* IIFL HOLDINGS: Arm IIFL Investment Managers is launching its latest real estate debt fund with a target corpus of almost $500 mln.
* INDIABULLS HOUSING FINANCE: Europacific Growth Fund today sold 3.1 mln shares or 0.73% stake in the company at 1,190.17 rupees per share in a bulk deal on the BSE.
* INFOSYS: Ashok Vemuri has indicated he is not in the running to be the company's chief executive.
* IRB INFRASTRUCTURE DEVELOPERS: Is in talks with long-term foreign investors, including pension funds, to bid for toll-operate-transfer projects that the government expects to tender.
* JSW STEEL: Crude steel production rose 1% on year to 1.34 mln tn in October.
* LARSEN & TOUBRO: Has received order from Mumbai Metropolitan Region Development Authority to construct two sections of 178-bln-rupee Mumbai Trans Harbour Link project.
* MERCATOR: Closed the qualified institutional placement issue and fixed the issue price at 44.65 rupees per share.
* MUTHOOT CAPITAL SERVICES: Set the floor price for its qualified institutional placement of securities at 605.00 rupees a share, a sharp discount to the floor price of 628.98 rupees a share announced earlier.
* NMDC: Iron ore production during Apr-Oct was 18.23 mln tn.
* NTPC: Commissioned 50 MW Rojmal Wind Project in Gujarat. Has shelved plans to acquire stressed power assets in the private sector, and will instead help lenders to these debt-ridden power plants run them for a fee.
* RBL BANK: The bank acquired an additional 28.40% of the paid-up equity share capital in Swadhaar FinServe on Wednesday, raising its stake to 58.4%.
* RURAL ELECTRIFICATION CORP: Is looking at overseas business, starting with neighbouring countries, to supplement revenue from its traditional business of lending to rural power projects, Chairman PV Ramesh said.
* RELIANCE COMMUNICATIONS: The National Company Law Tribunal asked Swedish-based Ericsson to file bank certificate detailing the amount of the company owes it within seven days.
* RELIANCE INDUSTRIES: Arm Reliance Jio Infocomm has announced a 400-rupee cashback offer and multiple e-commerce discount vouchers for Prime members for recharge of at least 399 rupees.
- May be looking at buying polyester yarn unit of ALOK INDUSTRIES, three people familiar with the development said.
* RELIANCE INFRASTRUCTURE: ADANI TRANSMISSION will purchase the company's power business Reliance Energy for around 130 bln rupees.
* SHRIRAM TRANSPORT FINANCE CO: Plans to issue bonds maturing in three years at a coupon of 7.73%.
* SRF: Plans to invest 3.56 bln rupees to set up a new 17,000 tn per year integrated unit to manufacture hydrofluorocarbons.
* SUNDARAM FINANCE: Plans to raise at least 1 bln rupees through the issuance of bonds maturing in three years and two months at an effective annualized yield of 7.45%.
* SYNDICATE BANK: Syndicate Bank has cut its marginal cost of funds based lending rate further by 5 bps for one year tenure effective today, making it 8.45% per annum.
* TECH MAHINDRA: Has partnered with US-based Unity Technologies SF to open a delivery centre for media and entertainment industry in Bengaluru.
* VEDANTA: Is likely to be in the pole position to grab stressed assets that are up for auction under the insolvency and bankruptcy code.
* WIPRO: Wipro Consumer Care, a part of Wipro Group, will invest in New Delhi-based online consumer product firm, Happily Unmarried Marketing.
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* BEML: Is looking to get into the manufacturing of underground mining equipment. The defence public sector utility's construction and mining vertical mostly manufactures open cast mining equipment.
* BHARTI AIRTEL: Swedish phone-app developer True Software Scandinavia AB is in talks with wireless operators, including the company, to expand its fast-growing Truecaller spam-filtering service in Africa.
* CADILA HEALTHCARE: Zydus Cadila and Intas Pharmaceuticals are under the scanner of the
pharmaceutical regulator for allegedly launching a combination drug to treat hypertension without mandatory prior approval.
* CORPORATION BANK: Has set 8.02% coupon on its Basel III-compliant tier-II bond.
* ELECTROSTEEL STEELS: Shareholders of the company, which is currently undergoing corporate
insolvency resolution process, have disapproved the reappointment of a whole-time director of the company.
* GMR INFRASTRUCTURE: Said it was not involved in attempts of tax avoidance in any country as alleged in a report by The Indian Express newspaper, based on leak of data from the 'Paradise Papers'.
* GRASIM INDUSTRIES: The Delhi High Court has rejected plea by the company and GUJARAT
ALKALIES & CHEMICALS, seeking an extension on anti-dumping duty on phosphoric acid imported from Taiwan and Israel.
* IDFC BANK: Is set to issue 65 mln Visa virtual cards to MobiKwik users in the first phase, after
announcing a tie-up to offer co-branded virtual prepaid card.
* IIFL HOLDINGS: Arm IIFL Investment Managers is launching its latest real estate debt fund with a target corpus of almost $500 mln.
* INDIABULLS HOUSING FINANCE: Europacific Growth Fund today sold 3.1 mln shares or 0.73% stake in the company at 1,190.17 rupees per share in a bulk deal on the BSE.
* INFOSYS: Ashok Vemuri has indicated he is not in the running to be the company's chief executive.
* IRB INFRASTRUCTURE DEVELOPERS: Is in talks with long-term foreign investors, including pension funds, to bid for toll-operate-transfer projects that the government expects to tender.
* JSW STEEL: Crude steel production rose 1% on year to 1.34 mln tn in October.
* LARSEN & TOUBRO: Has received order from Mumbai Metropolitan Region Development Authority to construct two sections of 178-bln-rupee Mumbai Trans Harbour Link project.
* MERCATOR: Closed the qualified institutional placement issue and fixed the issue price at 44.65 rupees per share.
* MUTHOOT CAPITAL SERVICES: Set the floor price for its qualified institutional placement of securities at 605.00 rupees a share, a sharp discount to the floor price of 628.98 rupees a share announced earlier.
* NMDC: Iron ore production during Apr-Oct was 18.23 mln tn.
* NTPC: Commissioned 50 MW Rojmal Wind Project in Gujarat. Has shelved plans to acquire stressed power assets in the private sector, and will instead help lenders to these debt-ridden power plants run them for a fee.
* RBL BANK: The bank acquired an additional 28.40% of the paid-up equity share capital in Swadhaar FinServe on Wednesday, raising its stake to 58.4%.
* RURAL ELECTRIFICATION CORP: Is looking at overseas business, starting with neighbouring countries, to supplement revenue from its traditional business of lending to rural power projects, Chairman PV Ramesh said.
* RELIANCE COMMUNICATIONS: The National Company Law Tribunal asked Swedish-based Ericsson to file bank certificate detailing the amount of the company owes it within seven days.
* RELIANCE INDUSTRIES: Arm Reliance Jio Infocomm has announced a 400-rupee cashback offer and multiple e-commerce discount vouchers for Prime members for recharge of at least 399 rupees.
- May be looking at buying polyester yarn unit of ALOK INDUSTRIES, three people familiar with the development said.
* RELIANCE INFRASTRUCTURE: ADANI TRANSMISSION will purchase the company's power business Reliance Energy for around 130 bln rupees.
* SHRIRAM TRANSPORT FINANCE CO: Plans to issue bonds maturing in three years at a coupon of 7.73%.
* SRF: Plans to invest 3.56 bln rupees to set up a new 17,000 tn per year integrated unit to manufacture hydrofluorocarbons.
* SUNDARAM FINANCE: Plans to raise at least 1 bln rupees through the issuance of bonds maturing in three years and two months at an effective annualized yield of 7.45%.
* SYNDICATE BANK: Syndicate Bank has cut its marginal cost of funds based lending rate further by 5 bps for one year tenure effective today, making it 8.45% per annum.
* TECH MAHINDRA: Has partnered with US-based Unity Technologies SF to open a delivery centre for media and entertainment industry in Bengaluru.
* VEDANTA: Is likely to be in the pole position to grab stressed assets that are up for auction under the insolvency and bankruptcy code.
* WIPRO: Wipro Consumer Care, a part of Wipro Group, will invest in New Delhi-based online consumer product firm, Happily Unmarried Marketing.
