Daily Stock News Today – 21.11.2017
* ARSS INFRASTRUCTURE PROJECTS: Has received an order worth 890.7 mln rupees from Rail Vikas Nigam.
* ASHIANA HOUSING: Is in pact with a local developer for a "group housing project" on 3.5 acres in Jamshedpur, Jharkhand.
* BAJAJ AUTO: British automaker, Triumph, expects the partnership with the company to more than double its global business, and make India its largest market.
* EDELWEISS FINANCIAL SERVICES: Has set the issue price for its qualified institutional placement of securities at 280 rupees a share, a discount of 1.8% to the floor price of 285.14 rupees per share announced earlier. Will invest 7-8 bln rupees per year in its retail lending business to grow SME, mortgage, and agriculture loan book.
* EVEREST ORGANICS: Got an order from US-based pharmaceutical company to supply Omiprazole active pharmaceutical ingredient to the US market.
* FUTURE ENTERPRISES: Investment manager Griffin Partners has sold 1.9 mln shares, or 4.9% stake, in Future Supply Chain Solutions to Edelweiss Crossover Opportunities Fund and EQ Clover scheme for 635.6 rupees per share. Funds managed by EDELWEISS FINANCIAL SERVICES have bought a 4.9% stake in its initial public offering-bound unit Future Supply Chain Solutions.
* FUTURE RETAIL: The company and Bluerock eServices have demerged their home retail business into Praxis Home Retail.
* HOUSING AND URBAN DEVELOPMENT CORP: Is likely to set 7.14% as the coupon on its bonds maturing in three years and one month.
* INDIAN OIL CORP: Has shifted its focus to have more than 50% market share of the electric vehicle charging and infrastructure space as the country moves to convert its passenger and commercial vehicles to electric by 2030.
* INFIBEAM: Is in talks with Prem Watsa's Fairfax Financial Holdings to sell a minority stake.
* JAYPEE INFRATECH: Buyers of the company's homes have filed a fresh plea in the Supreme Court alleging that the company may have diverted 100 bln rupees to its parent, JAIPRAKASH ASSOCIATES.
* JSW STEEL: May team up with external investors to set up a platform for acquiring distressed assets, said Seshagiri Rao, joint managing director and group chief financial officer.
* L&T FINANCE: Bain Capital will raise 7.50 bln rupees by selling 2.12% or about a fifth of its holding, in the company through a block deal, fetching about 150% returns on its two-year-old investment in the non-banking finance company.
* MADHUCON PROJECTS: Has filed a second petition before the sanctions board of World Bank, seeking a review of the multilateral agency's decision to bar the company for two years from participating in projects it provides aid for.
* MAGMA FINCORP: Amid talk of a possible exit of its German partner HDI Global SE, Magma HDI General Insurance Co is initiating a strategy to focus on health and commercial insurance and reduce dependence on automobile insurance.
* MAHINDRA & MAHINDRA: The Mahindra group will bid for the second tender of 10,000 electric vehicles of Energy Efficiency Services, Mahesh Babu, chief executive officer of Mahindra Electric Mobility, said. Opened its new manufacturing plant with an investment of $230 mln in the world's car capital Detroit which got its first automotive production facility in 25 years.
* MARICO: Started selling Saffola soups, entering a 4.50 bln rupees segment that is dominated by HINDUSTAN UNILEVER and NESTLE.
* MERCATOR: Nomura Singapore has sold 4.5 mln shares or 1.49% stake in the company at 40.65 rupees per share, through a bulk deal on BSE.
* NBCC (INDIA): Has awarded the contract for construction of buildings for IIT-Bhubaneshwar and its extended campus to SIMPLEX INFRASTRUCTURES, Kolkata, for 5.24 bln rupees.
* PNB HOUSING FINANCE: Has entered into a partnership with property site Magicbricks to e-auction its re-possessed properties on the latter's online platform.
* POWER FINANCE CORP: Is likely to set 7.35% and 7.65% as the coupon on its bonds maturing in five years and 10 years, respectively.
* QUESS CORP: has entered into an agreement with Tata Sons and Tata Capital to acquire a 51% stake in Tata Business Support Services for a cash consideration of 1.53 bln rupees.
* RELIANCE INDUSTRIES: The company, RURAL ELECTRIFICATION CORP and Adani Abbot Point Terminal have launched bond issues worth $1.7 bln overseas.
* SATIN CREDITCARE NETWORK: Has received a licence from mortgage regulator National Housing Bank to start housing finance operations through its wholly-owned subsidiary Satin Housing Finance.
* VEDANTA: Is poised to overtake Aditya Birla group as the largest producer of aluminium in the country in the current fiscal.
* WIPRO: Has offered to buy back up to 343.75 mln shares or 7.06% stake at 320 rupees a share. Buyback will close on Dec 13.
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* ASHIANA HOUSING: Is in pact with a local developer for a "group housing project" on 3.5 acres in Jamshedpur, Jharkhand.
* BAJAJ AUTO: British automaker, Triumph, expects the partnership with the company to more than double its global business, and make India its largest market.
* EDELWEISS FINANCIAL SERVICES: Has set the issue price for its qualified institutional placement of securities at 280 rupees a share, a discount of 1.8% to the floor price of 285.14 rupees per share announced earlier. Will invest 7-8 bln rupees per year in its retail lending business to grow SME, mortgage, and agriculture loan book.
* EVEREST ORGANICS: Got an order from US-based pharmaceutical company to supply Omiprazole active pharmaceutical ingredient to the US market.
* FUTURE ENTERPRISES: Investment manager Griffin Partners has sold 1.9 mln shares, or 4.9% stake, in Future Supply Chain Solutions to Edelweiss Crossover Opportunities Fund and EQ Clover scheme for 635.6 rupees per share. Funds managed by EDELWEISS FINANCIAL SERVICES have bought a 4.9% stake in its initial public offering-bound unit Future Supply Chain Solutions.
* FUTURE RETAIL: The company and Bluerock eServices have demerged their home retail business into Praxis Home Retail.
* HOUSING AND URBAN DEVELOPMENT CORP: Is likely to set 7.14% as the coupon on its bonds maturing in three years and one month.
* INDIAN OIL CORP: Has shifted its focus to have more than 50% market share of the electric vehicle charging and infrastructure space as the country moves to convert its passenger and commercial vehicles to electric by 2030.
* INFIBEAM: Is in talks with Prem Watsa's Fairfax Financial Holdings to sell a minority stake.
* JAYPEE INFRATECH: Buyers of the company's homes have filed a fresh plea in the Supreme Court alleging that the company may have diverted 100 bln rupees to its parent, JAIPRAKASH ASSOCIATES.
* JSW STEEL: May team up with external investors to set up a platform for acquiring distressed assets, said Seshagiri Rao, joint managing director and group chief financial officer.
* L&T FINANCE: Bain Capital will raise 7.50 bln rupees by selling 2.12% or about a fifth of its holding, in the company through a block deal, fetching about 150% returns on its two-year-old investment in the non-banking finance company.
* MADHUCON PROJECTS: Has filed a second petition before the sanctions board of World Bank, seeking a review of the multilateral agency's decision to bar the company for two years from participating in projects it provides aid for.
* MAGMA FINCORP: Amid talk of a possible exit of its German partner HDI Global SE, Magma HDI General Insurance Co is initiating a strategy to focus on health and commercial insurance and reduce dependence on automobile insurance.
* MAHINDRA & MAHINDRA: The Mahindra group will bid for the second tender of 10,000 electric vehicles of Energy Efficiency Services, Mahesh Babu, chief executive officer of Mahindra Electric Mobility, said. Opened its new manufacturing plant with an investment of $230 mln in the world's car capital Detroit which got its first automotive production facility in 25 years.
* MARICO: Started selling Saffola soups, entering a 4.50 bln rupees segment that is dominated by HINDUSTAN UNILEVER and NESTLE.
* MERCATOR: Nomura Singapore has sold 4.5 mln shares or 1.49% stake in the company at 40.65 rupees per share, through a bulk deal on BSE.
* NBCC (INDIA): Has awarded the contract for construction of buildings for IIT-Bhubaneshwar and its extended campus to SIMPLEX INFRASTRUCTURES, Kolkata, for 5.24 bln rupees.
* PNB HOUSING FINANCE: Has entered into a partnership with property site Magicbricks to e-auction its re-possessed properties on the latter's online platform.
* POWER FINANCE CORP: Is likely to set 7.35% and 7.65% as the coupon on its bonds maturing in five years and 10 years, respectively.
* QUESS CORP: has entered into an agreement with Tata Sons and Tata Capital to acquire a 51% stake in Tata Business Support Services for a cash consideration of 1.53 bln rupees.
* RELIANCE INDUSTRIES: The company, RURAL ELECTRIFICATION CORP and Adani Abbot Point Terminal have launched bond issues worth $1.7 bln overseas.
* SATIN CREDITCARE NETWORK: Has received a licence from mortgage regulator National Housing Bank to start housing finance operations through its wholly-owned subsidiary Satin Housing Finance.
* VEDANTA: Is poised to overtake Aditya Birla group as the largest producer of aluminium in the country in the current fiscal.
* WIPRO: Has offered to buy back up to 343.75 mln shares or 7.06% stake at 320 rupees a share. Buyback will close on Dec 13.
