Daily Stock News Today – 20.11.2017
* ALLAHABAD BANK: Has decided to put on sale bad loans worth 1.01 bln rupees of KHAITAN
ELECTRICALS, the consumer durables maker battling declining revenues in recent quarters.
* BHARTI AIRTEL: Ericsson partnered the company for deploying 5G technology in the country.
* CADILA HEALTHCARE: Got final approval from the US Food and Drug Administration to
market ethacrynate sodium injection USP in 50-mg strength.
* CARE RATINGS: The company's joint venture, CARE Ratings (Nepal), has been granted a licence
by the Securities Board of Nepal to operate credit rating business.
* CENTRAL BANK OF INDIA: Will cut its Base Rate by 10 bps to 9.60% with effect from
Monday.
* CIPLA: Is focusing on limited competition drugs to grow sales and offset price erosion in the US
market.
* COCHIN SHIPYARD: Union Minister Nitin Gadkari has said the company would not be
privatised.
* DIVI'S LABORATORIES: The US Food and Drug Administration has cleared the Visakhapatnam
unit-II of the company.
* ERIS LIFESCIENCES: Will acquire the India generics business of STRIDES SHASUN for 5 bln
rupees.
* GMR INFRASTRUCTURE: Arm GMR Hyderabad International Airport expects around 16%
year-on-year growth in its passenger footfall for 2017-18 (Apr-Mar), S.G.K. Kishore, chief executive
officer, said.
* HCL TECHNOLOGIES: Geopolitical events, man-made disruptions and natural calamities are the
top business continuity risks for the company's operations and could hit the company's reputation and
revenue.
* HDFC STANDARD LIFE INSURANCE CO: The MTBJ AC Nomura India Inves FD bought
19.26 mln shares of the company at 325.13 rupees apiece through a bulk deal on the National Stock
Exchange.
* HOUSING DEVELOPMENT AND INFRASTRUCTURE: Morgan Stanley (France) S.A.S. bought
0.67% stake in the company at 64.26 rupees apiece.
* HIMATSINGKA SEIDE: Kotak Mahindra Asset Management Co has bought 1% stake in the
company at 333 rupees apiece.
* INDIAN OIL CORP: Has launched India's first electric vehicle charging station at a petrol pump in
Nagpur.
* INDUSIND BANK: Has left its marginal cost of funds-based lending rates unchanged for
November, in the range of 8.20-8.95%.
* INFOSYS: Has said its buyback of shares will open on Nov 30 and close on Dec 14. The last date
for receipt of completed tender forms and other specified documents is Dec 18.
- Bihar Deputy Chief Minister Sushil Kumar Modi, who heads the group of ministers looking into
information technology issues of the Goods and Services Tax Network, said the company has been
asked to make forms related to tax payments more user friendly.
* INTERGLOBE AVIATION: The company-led IndiGo on Friday took the delivery of its first ATR
72-600 aircraft with which the airline plans to connect smaller towns in India, responding to the
government's push for greater regional air connectivity.
* ITC: The company, DABUR, NESTLE and GLAXOSMITHKLINE CONSUMER have written to
distributors, stockists and retailers to pass on the benefit of lower goods and services tax to
consumers immediately, irrespective of the maximum retail price printed on product packs.
* JAIN IRRIGATION: A fire broke out at the onion dehydration warehouse of Jain Farm Fresh
Foods, a subsidiary of the company in Jalgaon, Maharashtra.
* LARSEN & TOURBO: The company's construction division bagged an order worth 86.5 bln
rupees from Mumbai Metropolitan Region Development Authority for the construction of Mumbai
Trans Harbour Link.
* MAHINDRA & MAHINDRA: The company's direct subsidiary Mahindra Agri Solutions has
incorporated an arm, Mahindra Fresh Fruits Distribution Holding Co, in the Netherlands.
* MANAPPURAM FINANCE: Baring Private Equity India AIF has purchased 0.14% stake in the
company.
* MAYUR UNIQUOTERS: Board has approved buyback of up to 450,000 shares at 550 rupees
apiece.
* NARAYANA HRUDAYALAYA: Has chalked out a 5-bln-rupee expansion plan to enter highvalue
markets in the country over the next three years, as well as make a foray into Africa.
* NAVA BHARAT VENTURES: A special court has summoned the company's Managing Director
P. Trivikrama Prasad in a case related to illegal allocation of coal Blocks.
* NHPC: Is interested in bidding for a $2.5-bln power project in Nepal, after Kathmandu cancelled a
deal with China Gezhouba Group Corp.
* PRATAAP SNACKS: The company's subsidiary Pure N Sure Food Bites has started commercial
production of sweet products Yum-Pie under the brand name Rich Feast.
* PIRAMAL ENTERPRISES: Chairman Ajay Piramal has said that he doesn't have any plans to
integrate Shriram Group's financial business with the company.
* PURAVANKARA: Has chalked out a plan to launch 14 new projects in the next 12-15 months,
entailing an investment of about 32 bln rupees in construction over the next five years.
* RELIANCE COMMUNICATIONS: Has asked its rivals in business-to-business telecom and cloud
computing operations not to spread rumours that the company will discontinue operations soon.
- Moody's Investors Service has withdrawn the company's corporate family rating and senior
secured notes rating, as the company missed scheduled debt payments.
- The Telecom Regulatory Authority of India has asked the company to submit details of its
subscribers, as well as of its unspent balance of pre-paid customers, immediately.
- Arm Global Cloud Xchange has sent a 'cease and desist' notice to a number of rivals in India,
accusing them of spreading misinformation.
* RELIANCE INDUSTRIES: Will raise 25 bln rupees through non-convertible debentures on
Wednesday. This would mean the oil-to-telecom conglomerate would have raised 100 bln rupees
through debentures in a fortnight.
* RURAL ELECTRIFICATION CORP: Is likely to set 7.18% as the coupon on its three-year sixmonth bonds.
* SPECIALITY RESTAURANTS: Has opened 'Machaan', a new franchise restaurant in Ranchi,
Jharkhand.
* STATE BANK OF INDIA: The bank's chairman Rajnish Kumar said if the Reserve Bank of India
mandates an external benchmark for pricing loans, it would be a challenge to manage the fallout on
retail borrowers and depositors.
- Is awaiting final regulations before firming up its plans to list two regional rural banks sponsored
by it, Dinesh Khara, managing director-risk, information technology and subsidiaries, said.
- The upgrade in the bank's rating to Baa2 from Baa3 by Moody's Investors Service is expected to
improve the pricing of its medium-term note programme, Siddhartha Sengupta, deputy managing
director-international banking group, said.
* STEEL AUTHORITY OF INDIA: Is looking to diversify its product basket through value-added
and ready-to-use product offerings.
* STRIDES SHASUN: Will use 4 bln rupees of the total proceeds from the sale of its India generics
business to ERIS LIFESCIENCES for repayment of debt, Managing Director Shashank Sinha said.
* TATA POWER: The Company’s division has received a contract from the Indian Navy for the
supply of portable diver detection sonar for naval applications.
* TVS MOTOR: The Company is banking on rural buying in South India to sustain its double-digit
growth momentum and plans to invest 6 bln rupees to expand its product range and distribution
network.
* UNITED SPIRITS: Diageo Plc has sued Vijay Mallya in the UK to recover the $40 mln it had paid
the industrialist as settlement fee for exiting the company last year.
* VADILAL INDUSTRIES: The promoters may be looking to exit the company, two years after a
dispute erupted between them.
* VEDANTA: The Income Tax Department will not sell the attached shares of the company, held by
Cairn Energy, to recover a 102 bln rupees retrospective tax demand.
* WIPRO: Has announced Nov 29 as the opening date of its 343.75-mln-share buyback, which will
close on Dec 13.
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ELECTRICALS, the consumer durables maker battling declining revenues in recent quarters.
* BHARTI AIRTEL: Ericsson partnered the company for deploying 5G technology in the country.
* CADILA HEALTHCARE: Got final approval from the US Food and Drug Administration to
market ethacrynate sodium injection USP in 50-mg strength.
* CARE RATINGS: The company's joint venture, CARE Ratings (Nepal), has been granted a licence
by the Securities Board of Nepal to operate credit rating business.
* CENTRAL BANK OF INDIA: Will cut its Base Rate by 10 bps to 9.60% with effect from
Monday.
* CIPLA: Is focusing on limited competition drugs to grow sales and offset price erosion in the US
market.
* COCHIN SHIPYARD: Union Minister Nitin Gadkari has said the company would not be
privatised.
* DIVI'S LABORATORIES: The US Food and Drug Administration has cleared the Visakhapatnam
unit-II of the company.
* ERIS LIFESCIENCES: Will acquire the India generics business of STRIDES SHASUN for 5 bln
rupees.
* GMR INFRASTRUCTURE: Arm GMR Hyderabad International Airport expects around 16%
year-on-year growth in its passenger footfall for 2017-18 (Apr-Mar), S.G.K. Kishore, chief executive
officer, said.
* HCL TECHNOLOGIES: Geopolitical events, man-made disruptions and natural calamities are the
top business continuity risks for the company's operations and could hit the company's reputation and
revenue.
* HDFC STANDARD LIFE INSURANCE CO: The MTBJ AC Nomura India Inves FD bought
19.26 mln shares of the company at 325.13 rupees apiece through a bulk deal on the National Stock
Exchange.
* HOUSING DEVELOPMENT AND INFRASTRUCTURE: Morgan Stanley (France) S.A.S. bought
0.67% stake in the company at 64.26 rupees apiece.
* HIMATSINGKA SEIDE: Kotak Mahindra Asset Management Co has bought 1% stake in the
company at 333 rupees apiece.
* INDIAN OIL CORP: Has launched India's first electric vehicle charging station at a petrol pump in
Nagpur.
* INDUSIND BANK: Has left its marginal cost of funds-based lending rates unchanged for
November, in the range of 8.20-8.95%.
* INFOSYS: Has said its buyback of shares will open on Nov 30 and close on Dec 14. The last date
for receipt of completed tender forms and other specified documents is Dec 18.
- Bihar Deputy Chief Minister Sushil Kumar Modi, who heads the group of ministers looking into
information technology issues of the Goods and Services Tax Network, said the company has been
asked to make forms related to tax payments more user friendly.
* INTERGLOBE AVIATION: The company-led IndiGo on Friday took the delivery of its first ATR
72-600 aircraft with which the airline plans to connect smaller towns in India, responding to the
government's push for greater regional air connectivity.
* ITC: The company, DABUR, NESTLE and GLAXOSMITHKLINE CONSUMER have written to
distributors, stockists and retailers to pass on the benefit of lower goods and services tax to
consumers immediately, irrespective of the maximum retail price printed on product packs.
* JAIN IRRIGATION: A fire broke out at the onion dehydration warehouse of Jain Farm Fresh
Foods, a subsidiary of the company in Jalgaon, Maharashtra.
* LARSEN & TOURBO: The company's construction division bagged an order worth 86.5 bln
rupees from Mumbai Metropolitan Region Development Authority for the construction of Mumbai
Trans Harbour Link.
* MAHINDRA & MAHINDRA: The company's direct subsidiary Mahindra Agri Solutions has
incorporated an arm, Mahindra Fresh Fruits Distribution Holding Co, in the Netherlands.
* MANAPPURAM FINANCE: Baring Private Equity India AIF has purchased 0.14% stake in the
company.
* MAYUR UNIQUOTERS: Board has approved buyback of up to 450,000 shares at 550 rupees
apiece.
* NARAYANA HRUDAYALAYA: Has chalked out a 5-bln-rupee expansion plan to enter highvalue
markets in the country over the next three years, as well as make a foray into Africa.
* NAVA BHARAT VENTURES: A special court has summoned the company's Managing Director
P. Trivikrama Prasad in a case related to illegal allocation of coal Blocks.
* NHPC: Is interested in bidding for a $2.5-bln power project in Nepal, after Kathmandu cancelled a
deal with China Gezhouba Group Corp.
* PRATAAP SNACKS: The company's subsidiary Pure N Sure Food Bites has started commercial
production of sweet products Yum-Pie under the brand name Rich Feast.
* PIRAMAL ENTERPRISES: Chairman Ajay Piramal has said that he doesn't have any plans to
integrate Shriram Group's financial business with the company.
* PURAVANKARA: Has chalked out a plan to launch 14 new projects in the next 12-15 months,
entailing an investment of about 32 bln rupees in construction over the next five years.
* RELIANCE COMMUNICATIONS: Has asked its rivals in business-to-business telecom and cloud
computing operations not to spread rumours that the company will discontinue operations soon.
- Moody's Investors Service has withdrawn the company's corporate family rating and senior
secured notes rating, as the company missed scheduled debt payments.
- The Telecom Regulatory Authority of India has asked the company to submit details of its
subscribers, as well as of its unspent balance of pre-paid customers, immediately.
- Arm Global Cloud Xchange has sent a 'cease and desist' notice to a number of rivals in India,
accusing them of spreading misinformation.
* RELIANCE INDUSTRIES: Will raise 25 bln rupees through non-convertible debentures on
Wednesday. This would mean the oil-to-telecom conglomerate would have raised 100 bln rupees
through debentures in a fortnight.
* RURAL ELECTRIFICATION CORP: Is likely to set 7.18% as the coupon on its three-year sixmonth bonds.
* SPECIALITY RESTAURANTS: Has opened 'Machaan', a new franchise restaurant in Ranchi,
Jharkhand.
* STATE BANK OF INDIA: The bank's chairman Rajnish Kumar said if the Reserve Bank of India
mandates an external benchmark for pricing loans, it would be a challenge to manage the fallout on
retail borrowers and depositors.
- Is awaiting final regulations before firming up its plans to list two regional rural banks sponsored
by it, Dinesh Khara, managing director-risk, information technology and subsidiaries, said.
- The upgrade in the bank's rating to Baa2 from Baa3 by Moody's Investors Service is expected to
improve the pricing of its medium-term note programme, Siddhartha Sengupta, deputy managing
director-international banking group, said.
* STEEL AUTHORITY OF INDIA: Is looking to diversify its product basket through value-added
and ready-to-use product offerings.
* STRIDES SHASUN: Will use 4 bln rupees of the total proceeds from the sale of its India generics
business to ERIS LIFESCIENCES for repayment of debt, Managing Director Shashank Sinha said.
* TATA POWER: The Company’s division has received a contract from the Indian Navy for the
supply of portable diver detection sonar for naval applications.
* TVS MOTOR: The Company is banking on rural buying in South India to sustain its double-digit
growth momentum and plans to invest 6 bln rupees to expand its product range and distribution
network.
* UNITED SPIRITS: Diageo Plc has sued Vijay Mallya in the UK to recover the $40 mln it had paid
the industrialist as settlement fee for exiting the company last year.
* VADILAL INDUSTRIES: The promoters may be looking to exit the company, two years after a
dispute erupted between them.
* VEDANTA: The Income Tax Department will not sell the attached shares of the company, held by
Cairn Energy, to recover a 102 bln rupees retrospective tax demand.
* WIPRO: Has announced Nov 29 as the opening date of its 343.75-mln-share buyback, which will
close on Dec 13.
