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Today Stock News – 30.05.2018

Today Stock News – 30.05.2018


* ASTRAZENECA PHARMA INDIA: Will inaugurate its expanded Global Medicines Development unit in Bengaluru today.

* BAJAJ CORP: The board has approved closure of a manufacturing facility at Parwanoo, Himachal Pradesh, to cut costs and improve operational efficiency.

* CONTAINER CORP OF INDIA: The company and Krishnapatnam Port Co have launched a weekly direct container rail service connecting the country's central region to the eastern coast.

* FORTIS HEALTHCARE: The race to acquire stake in the company is set to start again as the  company's overhauled board has sought fresh offers from interested parties for i

* JSW STEEL: The company and VEDANTA have expressed an interest to acquire the specialty
steel business of Usha Martin, a sale fetching a maximum of 50 bln rupees that will help the Kolkata-based company pare its debt.

* JUBILANT FOODWORKS: Reports of stake sale by promoters are completely incorrect and baseless.

* MAGMA FINCORP: Has raised its target of giving new loans by 46% to take the figure of total loan amount to 3.3 bln rupees in Madhya Pradesh.

* MAHINDRA & MAHINDRA: Plans to invest about 150 bln rupees for product development, capacity expansion and investment in other companies in the next three years.

* MAHINDRA LOGISTICS: Bicycle-sharing company, Mobike, has tied up with the company to move their bikes across the city and make them available at the right places in right condition.

* NEW DELHI TELEVISION: After News website had reported on Monday that the Ministry of Information and Broadcasting has started probing accusations of uplinking norm violations by the company, it responded that saying the accusations were completely false, and statements given by a former disgruntled consultant and a minority shareholder of the company were misleading.

* OIL AND NATURAL GAS CORP: Has replaced a government nominee director on board of HINDUSTAN PETROLEUM CORP with its nominee as it consolidates control over the company it had recently acquired.

* RELIANCE COMMUNICATIONS: The National Company Law Appellate Tribunal had allowed Reliance Infratel--an arm of the company--and HSBC Daisy Investments (Mauritius) to amicably settle their case out of court, as the two parties filed consent terms of the agreement.

* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm will offer internet access, video content and voice calls for less than 1,000 rupees a month when it starts fibre-to-home services later this year, a repeat of the aggressive pricing strategy that ruffled incumbents during the launch of its wireless phone services.

* RELIGARE ENTERPRISES: Delhi High Court has rejected a petition filed against the company by
Metaffinity and Sarvapriya Healthcare Solutions.

* SPICEJET: Will start flights on Delhi-Kanpur route from Jul 3 with a starting all-inclusive fare of 2,313 rupees.

* STRIDES SHASUN: Has sought shareholders' nod to change its name to Strides Pharma Science.

* TATA COMMUNICATIONS: After Mint reported on Monday that government may tell the company to clear dues of Tata Tele before clearing any deal to buy the latter, it responded saying the company has been evaluating the strategic fit and financial merits of potentially acquiring the enterprise business of Tata Teleservices and TATA TELESERVICES MAHARASHTRA.

* TATA MOTORS: ICICI Prudential Mutual Fund has bought 2.75 mln differential voting rights shares of the company at 170.97 rupees per share on the National Stock Exchange.

* VARDHMAN TEXTILES: HDFC Mutual Fund has bought 573,000 shares or 1% stake in the company at 1,245 rupees per share in a bulk deal on BSE.

* VEDANTA: Vedanta Resources is working on a legal challenge to Tamil Nadu's closure of one of its copper smelters, but it will not proceed until tensions over the deaths of 13 people during protests last week have eased.  The decision of the Tamil Nadu government to shut the company's copper smelter plant in Tuticorin would have serious economic ramifications by pushing India's annual import bill by an estimated $2 bln, said P. Ramnath, chief executive officer, Sterlite Copper.