Today Stock News – 12.02.2018
* ADANI ENTERPRISES: In a blow to the company and GVK group, Australia's rail freight company has withdrawn its application for the Australian $1-bln (approximately 50.18-bln-rupees) loan that was meant for building a railway line to support the development of the Galilee coal basin.
* ADANI POWER: The company's proposal to set up a special economic zone for the power sector in Jharkhand entailing an investment of 150.02 bln rupees as it was inconsistent with the sectoral guidelines.
* ADITYA BIRLA CAPITAL: Will begin investing in its asset reconstruction company and start business this quarter.
* AJANTA PHARMA: The company's formulations facility at Dahej did not receive Form 483 after US Food and Drug Administration's five-day inspection ended on Friday.
* AMARA RAJA BATTERIES: The board has decided to pay an interim dividend of 2 rupees per share.
* BANK OF BARODA: Managing Director and Chief Executive Officer P.S Jayakumar has said the bank was working with the local regulator towards "closure" of the Gupta family related matter that are under scrutiny in South Africa.
* BHARTI AIRTEL: Has urged Telecom Regulatory Authority of India to hold a consultation with
stakeholders before coming out with specific guidelines and regulations for companies to comply with principles on interconnect usage charges compliance and non-predation.
* BHARAT PETROLEUM CORP: The board has decided to pay an interim dividend of 14 rupees per share.
* CADILA HEALTHCARE: The US Food and Drug Administration did not issue a Form 483 to the
company's Moraiya facility after a five-day inspection ended on Friday.
* CITY UNION BANK: Has revised some of its retail term deposit tenures and rates effective Friday.
* COAL INDIA: Is trailing global peers in operating performance and technology adoption, while taxes and freight constitute 25% and 34%, respectively, of the cost consumers pay, undermining the monopoly's competitiveness.
* DREDGING CORP OF INDIA: Has secured an order worth 307.6 mln rupees for dredging of naval sites at Mumbai port.
* EDUCOMP SOLUTIONS: Ebix Inc to buy the company with 3.25-bln-rupee bankruptcy offer.
* FORTIS HEALTHCARE: Said an investment of 4.73 bln rupees, as part of treasury activities, was later classified as a related party transaction as a shareholding change resulted in the investee company becoming a part of the promoter group.
-Societe Generale has bought 3.8 mln shares or 0.7% stake in the company at 141.53 rupees a share in a bulk deal on the National Stock Exchange.
* GLAXOSMITHKLINE CONSUMER HEALTHCARE: Has said it growth globally could ease in 2018 due to the impact of India's goods and services tax, the pruning of its product offerings and competitive pressure.
* HCL INFOSYSTEMS: The board approved the sale of HCL Services Ltd, wholly-owned subsidiary of the company, to Karvy Data Management Services for 1.08 bln rupees.
* HDFC BANK: Has appointed Rakesh Singh as the head of private banking operations.
* IDEA CELLULAR: Vodafone India and the company are merging, are working on a new name and brand identity for the combined entity, which may come into effect a year after the transaction closes.
* INDUSIND BANK: Has revised some of its retail term deposit rates, effective Friday.
* INTERGLOBE AVIATION: The company-run IndiGo on Friday grounded three of its A320neo aircraft after European aviation regulator issued a safety alert over some variants of the engines used on Airbus A320neo planes. Airbus SE has halted delivery of all A320neo aircraft till glitches in the Pratt and Whitney engine that powers the aircraft are resolved.
* JAYPEE INFRATECH: Has said allegations of fraud against the company detailed in a news report are wrong.
* JET AIRWAYS INDIA: Will start its second daily flight from Bengaluru to Singapore on Mar 15.
* MAHANAGAR GAS: The board has decided to pay an interim dividend of 8 rupees per share.
* MAHINDRA & MAHINDRA: Is poised to enter Iran with its XUV500, KUV100 and Scorpio pick-up, attempting to break the dominance of French and other European automakers.
* MARICO: The board has decided to pay an interim dividend of 2.50 rupees per share.
* MATRIMONY.COM: Has said its contention was to ensure that American search engine giant Google does not abuse its scale and other advantages to the detriment of the Indian internet ecosystem and customers at large.
* MINDTREE: Has decided to pause its inorganic growth plans and instead turbocharge the organic route with a focus on building platforms and solution capabilities, said Rostow Ravanan, managing director.
* MOIL: The board has recommended an interim dividend of 3 rupees per share.
* NMDC: The company recorded iron ore production of 27.87 mln tn in Apr-Jan. Iron ore sales in Apr-Jan were at 28.89 mln tn.
* NTPC: Will soon begin assessing the technical feasibility of the proposed takeover of stressed power plants. May borrow about 160 bln rupees next financial year for adding 6,900 MW of fresh electricity generation capacity by March 2019.
* OIL & NATURAL GAS CORP: Has appointed Subhash Kumar, the director (finance) of the company , as chief financial officer, with effect from Friday. The company's overseas arm ONGC Videsh and its partners have acquired a 10% in a large offshore oilfield in Abu Dhabi for $600 mln. Is likely to nominate one director on the board of recently acquired HINDUSTAN PETROLEUM CORP while retaining all the present directors of the company.
* OIL INDIA: The board has recommended interim dividend of 14 rupees per share. The board of directors has approved a proposal for issue of one bonus share for every two shares held.
* OMAXE: Has received green nod for expansion of its township in Mathura, Uttar Pradesh, at an investment of 1.70 bln rupees.
* PIDILITE INDUSTRIES: The company completed the acquisition of 70% stake in CIPY Polyurethanes.
* POWER GRID CORP OF INDIA: Has signed a 9.15-bln-rupee pact with the Jammu & Kashmir
government to develop transmission system and rural electrification.
* RELIANCE COMMUNICATIONS: Citing its strategic debt restructuring invoked by the joint lenders forum including debenture holders and standstill period till December 2017, the company said it has not made principal payment worth 3.75 bln rupees on its non-convertible debentures due on Wednesday.
* RELIANCE INFRASTRUCTURE: Has won a 5.67-bln-rupee order from NTPC for Flue Gas
Desulphurisation (FGD) works at the latter's 3x500 MW power plant in Jhajjar, Haryana.
* SJVN: The board has decided to pay an interim dividend of 1.90 rupees per share.
* SPICEJET: Aircraft tyre burst at the Chennai airport has forced it to shut its main runway since Thursday.
* STATE BANK OF INDIA: The board of the bank has approved raising 88 bln rupees through the issue of shares on a preferential basis to the government.
* SUN TV NETWORK: The board has recommended paying 2.5 rupees per share interim dividend.
* SYNDICATE BANK: Has increased the rates on its retail term deposits maturing in 46 days to less than two years by 10-50 basis points effective Saturday.
* TATA GLOBAL BEVERAGES: Faced with political pressure from the Assam government, the company has for the time being dropped its plan to sell its 41% stake in Amalgamated Plantations.
-Tata Group has approached key shareholders of Hector Beverages with a proposal to buy out the company along with its popular brand Paper Boat to spice up the portfolio of the company.
* TATA MOTORS: The company's global wholesale sales, including those of subsidiary Jaguar Land Rover, rose 20% on year to 114,797 units in January. Is banking on group strength, particularly on software major TATA CONSULTANCY SERVICES, in its bid to position itself as a mobility solutions provider, said Managing Director Guenter Butschek.
* TATA POWER CO: Will allot its entire 39.99% stake in Panatone Finvest to its promoter Tata Sons.
* TATA STEEL: Had shut the blast furnace at its Kalinganagar plant for unplanned major repairs, but will resume operations in 7-10 days.
* TV18 BROADCAST: The company's arm, Viacom18 is set to enter the largest regional market-Tamil-with its regional entertainment channel Colors Tamil on Feb 19.
* TVS MOTOR CO: May report a double-digit margin faster than what the street is expecting.
* UCO BANK: The board of the bank has approved raising 51.32 bln rupees through the issue of shares on a preferential basis to the government.
* WIPRO: Arm Wipro Consumer Care and Lighting will reach the $1-bln revenue mark by March 2018, as the company's China bets in particular continue to pay off and key brands in India perform well.
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* ADANI POWER: The company's proposal to set up a special economic zone for the power sector in Jharkhand entailing an investment of 150.02 bln rupees as it was inconsistent with the sectoral guidelines.
* ADITYA BIRLA CAPITAL: Will begin investing in its asset reconstruction company and start business this quarter.
* AJANTA PHARMA: The company's formulations facility at Dahej did not receive Form 483 after US Food and Drug Administration's five-day inspection ended on Friday.
* AMARA RAJA BATTERIES: The board has decided to pay an interim dividend of 2 rupees per share.
* BANK OF BARODA: Managing Director and Chief Executive Officer P.S Jayakumar has said the bank was working with the local regulator towards "closure" of the Gupta family related matter that are under scrutiny in South Africa.
* BHARTI AIRTEL: Has urged Telecom Regulatory Authority of India to hold a consultation with
stakeholders before coming out with specific guidelines and regulations for companies to comply with principles on interconnect usage charges compliance and non-predation.
* BHARAT PETROLEUM CORP: The board has decided to pay an interim dividend of 14 rupees per share.
* CADILA HEALTHCARE: The US Food and Drug Administration did not issue a Form 483 to the
company's Moraiya facility after a five-day inspection ended on Friday.
* CITY UNION BANK: Has revised some of its retail term deposit tenures and rates effective Friday.
* COAL INDIA: Is trailing global peers in operating performance and technology adoption, while taxes and freight constitute 25% and 34%, respectively, of the cost consumers pay, undermining the monopoly's competitiveness.
* DREDGING CORP OF INDIA: Has secured an order worth 307.6 mln rupees for dredging of naval sites at Mumbai port.
* EDUCOMP SOLUTIONS: Ebix Inc to buy the company with 3.25-bln-rupee bankruptcy offer.
* FORTIS HEALTHCARE: Said an investment of 4.73 bln rupees, as part of treasury activities, was later classified as a related party transaction as a shareholding change resulted in the investee company becoming a part of the promoter group.
-Societe Generale has bought 3.8 mln shares or 0.7% stake in the company at 141.53 rupees a share in a bulk deal on the National Stock Exchange.
* GLAXOSMITHKLINE CONSUMER HEALTHCARE: Has said it growth globally could ease in 2018 due to the impact of India's goods and services tax, the pruning of its product offerings and competitive pressure.
* HCL INFOSYSTEMS: The board approved the sale of HCL Services Ltd, wholly-owned subsidiary of the company, to Karvy Data Management Services for 1.08 bln rupees.
* HDFC BANK: Has appointed Rakesh Singh as the head of private banking operations.
* IDEA CELLULAR: Vodafone India and the company are merging, are working on a new name and brand identity for the combined entity, which may come into effect a year after the transaction closes.
* INDUSIND BANK: Has revised some of its retail term deposit rates, effective Friday.
* INTERGLOBE AVIATION: The company-run IndiGo on Friday grounded three of its A320neo aircraft after European aviation regulator issued a safety alert over some variants of the engines used on Airbus A320neo planes. Airbus SE has halted delivery of all A320neo aircraft till glitches in the Pratt and Whitney engine that powers the aircraft are resolved.
* JAYPEE INFRATECH: Has said allegations of fraud against the company detailed in a news report are wrong.
* JET AIRWAYS INDIA: Will start its second daily flight from Bengaluru to Singapore on Mar 15.
* MAHANAGAR GAS: The board has decided to pay an interim dividend of 8 rupees per share.
* MAHINDRA & MAHINDRA: Is poised to enter Iran with its XUV500, KUV100 and Scorpio pick-up, attempting to break the dominance of French and other European automakers.
* MARICO: The board has decided to pay an interim dividend of 2.50 rupees per share.
* MATRIMONY.COM: Has said its contention was to ensure that American search engine giant Google does not abuse its scale and other advantages to the detriment of the Indian internet ecosystem and customers at large.
* MINDTREE: Has decided to pause its inorganic growth plans and instead turbocharge the organic route with a focus on building platforms and solution capabilities, said Rostow Ravanan, managing director.
* MOIL: The board has recommended an interim dividend of 3 rupees per share.
* NMDC: The company recorded iron ore production of 27.87 mln tn in Apr-Jan. Iron ore sales in Apr-Jan were at 28.89 mln tn.
* NTPC: Will soon begin assessing the technical feasibility of the proposed takeover of stressed power plants. May borrow about 160 bln rupees next financial year for adding 6,900 MW of fresh electricity generation capacity by March 2019.
* OIL & NATURAL GAS CORP: Has appointed Subhash Kumar, the director (finance) of the company , as chief financial officer, with effect from Friday. The company's overseas arm ONGC Videsh and its partners have acquired a 10% in a large offshore oilfield in Abu Dhabi for $600 mln. Is likely to nominate one director on the board of recently acquired HINDUSTAN PETROLEUM CORP while retaining all the present directors of the company.
* OIL INDIA: The board has recommended interim dividend of 14 rupees per share. The board of directors has approved a proposal for issue of one bonus share for every two shares held.
* OMAXE: Has received green nod for expansion of its township in Mathura, Uttar Pradesh, at an investment of 1.70 bln rupees.
* PIDILITE INDUSTRIES: The company completed the acquisition of 70% stake in CIPY Polyurethanes.
* POWER GRID CORP OF INDIA: Has signed a 9.15-bln-rupee pact with the Jammu & Kashmir
government to develop transmission system and rural electrification.
* RELIANCE COMMUNICATIONS: Citing its strategic debt restructuring invoked by the joint lenders forum including debenture holders and standstill period till December 2017, the company said it has not made principal payment worth 3.75 bln rupees on its non-convertible debentures due on Wednesday.
* RELIANCE INFRASTRUCTURE: Has won a 5.67-bln-rupee order from NTPC for Flue Gas
Desulphurisation (FGD) works at the latter's 3x500 MW power plant in Jhajjar, Haryana.
* SJVN: The board has decided to pay an interim dividend of 1.90 rupees per share.
* SPICEJET: Aircraft tyre burst at the Chennai airport has forced it to shut its main runway since Thursday.
* STATE BANK OF INDIA: The board of the bank has approved raising 88 bln rupees through the issue of shares on a preferential basis to the government.
* SUN TV NETWORK: The board has recommended paying 2.5 rupees per share interim dividend.
* SYNDICATE BANK: Has increased the rates on its retail term deposits maturing in 46 days to less than two years by 10-50 basis points effective Saturday.
* TATA GLOBAL BEVERAGES: Faced with political pressure from the Assam government, the company has for the time being dropped its plan to sell its 41% stake in Amalgamated Plantations.
-Tata Group has approached key shareholders of Hector Beverages with a proposal to buy out the company along with its popular brand Paper Boat to spice up the portfolio of the company.
* TATA MOTORS: The company's global wholesale sales, including those of subsidiary Jaguar Land Rover, rose 20% on year to 114,797 units in January. Is banking on group strength, particularly on software major TATA CONSULTANCY SERVICES, in its bid to position itself as a mobility solutions provider, said Managing Director Guenter Butschek.
* TATA POWER CO: Will allot its entire 39.99% stake in Panatone Finvest to its promoter Tata Sons.
* TATA STEEL: Had shut the blast furnace at its Kalinganagar plant for unplanned major repairs, but will resume operations in 7-10 days.
* TV18 BROADCAST: The company's arm, Viacom18 is set to enter the largest regional market-Tamil-with its regional entertainment channel Colors Tamil on Feb 19.
* TVS MOTOR CO: May report a double-digit margin faster than what the street is expecting.
* UCO BANK: The board of the bank has approved raising 51.32 bln rupees through the issue of shares on a preferential basis to the government.
* WIPRO: Arm Wipro Consumer Care and Lighting will reach the $1-bln revenue mark by March 2018, as the company's China bets in particular continue to pay off and key brands in India perform well.
