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Today Stock News – 29.05.2018

Today Stock News – 29.05.2018

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* APOLLO HOSPITALS ENTERPRISE: Has launched an online service for patients seeking medical opinion on cancer from its specialists.

* BAJAJ FINSERV: Is offering collateral-free business loans to help small-to-medium enterprises meet their financial requirements.

* BAJAJ HINDUSTHAN SUGAR: May suffer partial disruption in distillery operations due to a fire at the company's distillery division at Kinauni in Uttar Pradesh during the loading of ethanol in containers on Saturday.

* BHARTI AIRTEL: American Tower Corp is likely to accept around $900 mln (around 60.30 bln rupees) as compensation from Tata Teleservices for prematurely winding up some 30,000-odd tenancies after deciding to sell its mobility business to the company.

* COAL INDIA: On Monday announced that its subsidiary Mahanadi Coalfields is looking to build a power plant in Sundargarh district of Odisha in partnership with power utility NTPC.

* ENGINEERS INDIA: Is looking to secure both consultancy and turnkey project orders from Abu Dhabi, Oman and Kuwait in 2018-19 (Apr-Mar), as higher crude oil prices may lead the expansion of refinery projects in West Asia.

* GMR INFRASTRUCTURE: Is evaluating Clark International Airport opportunity.

* GRASIM INDUSTRIES: IDEA CELLULAR and the company, together investing 320 mln rupees in the Aditya Birla Idea Payments Bank, Vodafone may end up indirectly holding a stake in the bank.

* GUJARAT PIPAVAV PORT: Still expects potential growth in the liquid cargo and liquefied petroleum gas, as well as the roll-on roll-off segment, to offset ongoing weakness in the bulk segment, its managing director said.

* HINDUSTAN AERONAUTICS: Is readying a civilian version of its successful, twin-engine Dhruv
Advanced Light Helicopter, hoping to grab a market for 300-500 civilian helicopters over the next 10 years, identified by consultants Frost & Sullivan.

* INDRAPRASTHA GAS: Has hiked price of compressed natural gas by 1.36 rupees per kg in Delhi, with corresponding changes in other areas from midnight, to offset rise in input costs due to the recent weakening of the rupee against the dollar, and revision in proportions of domestic gas allocation to the city gas distribution sector.

* INTERGLOBE AVIATION: The company-led IndiGo, has announced the launch of 20 new flights from July, which include introduction of the first direct flight from Kolkata to Chandigarh and Indore.

* JSW STEEL: Arms, JSW Steel Coated Products and Amba River Coke will together acquire up to 0.43% stake in JSW ENERGY at 77.66 rupees per share.

* LARSEN & TOUBRO: Has guided for 10-12% order inflow growth and 10-15% rise in consolidated revenues in 2018-19 (Apr-Mar).

* MAHINDRA & MAHINDRA: Has opened a new semi-knockdown assembly plant in the coastal South African city of Durban, which is expected to give a boost of more than 95 mln rupees to the economy of the KwaZulu-Natal province.

* MANPASAND BEVERAGES: Said the resignation of its statutory auditor ahead of the announcement of the beverage major's Jan-Mar earnings was "purely coincidental" and had "no direct correlation".

* MOSER BAER INDIA: The committee of creditors for the subsidiary Moser Baer Solar has extended the deadline by a month to Jun 26 for inviting bids for assets of the solar cells manufacturer, according to resolution professional Arvind Garg.

* OIL AND NATURAL GAS CORP: Plans to adopt stringent reporting standard on environment, social and corporate governance to help improve its credit rating, top company officials said.

* PIRAMAL ENTERPRISES: The board of directors has approved transfer of some financial services business to its wholly-owned subsidiary Piramal Housing Finance for up to 29.50 bln rupees in one or more tranches. Is considering a re-entry into the domestic formulations business, eight years after selling its portfolio to US-based Abbott Laboratories.

* RATNAMANI METALS & TUBES: Has received an order worth 820 mln rupees for supply of stainless steel pipes.

* STATE BANK OF INDIA: Is set to initiate bankruptcy proceedings against beleaguered businessman Vijay Mallya in the UK to mount additional legal pressure on him for the recovery of loans.

* ULTRATECH CEMENT: The committee of creditors for Binani Cement has voted in favour of accepting the company's 79.50 bln rupees bid.

* UTTAM GALVA STEELS: Lenders to the bankrupt Essar Steel have filed a petition with the Ahmedabad bench of the National Company Law Tribunal seeking clarity on whether ArcelorMittal's offer to repay the dues of the company and KSS Petron makes the company's bid for Essar Steel eligible.

* VEDANTA: The Tamil Nadu government has ordered permanent closure of the company's Sterlite Copper plant at Thoothukudi, Tuticorin. Has asked the National Company Law Appellate Tribunal to vacate its order for maintaining status quo over the sale of debt ridden ELECTROSTEEL STEELS.