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Today Stock News – 31.05.2018

Today Stock News – 31.05.2018


* 3M INDIA: The company's board has approved a proposal to invest up to 5.9 bln rupees in the entire issued and outstanding equity share capital of 3M Electro & Communication India through 500,000 equity shares.

* ASTRAZENECA PHARMA INDIA: Has opened a global medicines development centre in

* ATLANTA: The company's auditor Price Waterhouse Chartered Accountants LLP has resigned with immediate effect, the company said in a notice to stock exchanges on Wednesday.

* BHARAT ELECTRONICS: The company and private firm Alpha Design ha

* INDIAN OIL CORP: Auto fuel consumers were left fuming on Wednesday after the company cut petrol and diesel prices by a measly one paisa each.

* INDUSIND BANK: The bank and UCO BANK have become the first set of banks to have asked exporters to wind up their exposure to Iran by early August, after the US ordered re-imposition of sanctions against the Islamic country, leaving them in difficult straits.

* INFIBEAM INCORPORATION: Has approved raising up to 20 bln rupees through securities.

* ITI: Plans to invest 7 bln rupees in data centre business.

* JET AIRWAYS INDIA: Has said that SEBI has sought a response from it on reports of alleged irregular transactions by its Promoter and Chairman Naresh Goyal.

* LA OPALA RG: The board has approved setting up a new unit at Sitarganj, Uttarakhand, for 1.4 bln rupees.

* LUPIN: The subsidiary Lupin Pharmaceuticals has initiated voluntary recall of 43,922 cartons of My Way tablets from the US market as they were not approved by the US health regulator.

* MANPASAND BEVERAGES: Is about to begin operations at its new facility in Khurda, Odisha.

* MCLEOD RUSSEL INDIA: Has decided to sell off some of its tea estates to repay high-cost debt, buy back shares of 1 bln rupees and invest in the packet tea business.

* NMDC: Has signed a research agreement with Commonwealth Scientific and Industrial Research
Organisation, Australia for research collaboration in the field of complex iron ore processing by energy efficient dry processing techniques.

* POWER GRID CORP OF INDIA: Will raise 175 bln rupees in the current fiscal (2018-19) for its capital expenditure plans of 250 bln rupees.

* PREMIER: The company temporarily suspended operations at its plant in Chinchwad, Pune, on  acts of indiscipline by the union committee and some of the workmen.

* PUNJAB NATIONAL BANK: The Enforcement Directorate has attached a 528 mln rupees wind farm owned by Nirav Modi's family in Rajasthan's Jaisalmer in connection with its money laundering investigation into the over $2-bln PNB fraud case, the probe agency said.

* PVR: The company and INOX LEISURE have each tied up with consumer electronics brand Samsung for its ONYX Cinema Light-emitting diode screen technology.

* RELIANCE COMMUNICATIONS: The National Company Law Appellate Tribunal stayed insolvency proceedings against the company and asked it to go ahead with the sale of its tower and fiber assets to Reliance Jio Infocomm after a settlement with Ericsson.

* RELIANCE INDUSTRIES: Plans to halt oil imports from Iran in a sign that the new US sanctions are forcing buyers to shun oil purchases from Tehran.

* RELIANCE RETAIL: The company has partnered with Motorola India to launch Moto Hub across its Reliance Digital and MyJio stores.

* RELIGARE ENTERPRISES: Has allotted 3.8 mln shares upon conversion of 10.5 mln warrants.

* RICO AUTO INDUSTRIES: The company has received approval from the government of Haryana to shutdown its loss making unit--Machine Shop--at its Dharuhera plant in the state.

* RUCHI SOYA INDUSTRIES: The resolution professional has sought clarifications on certain matters related to draft financial results for Jan-Mar as well as those for 2017-18 (Apr-Mar).

* RURAL ELECTRIFICATION CORP: Plans to raise as much as 550 bln rupees through debt in 2018-19 (Apr-Mar) compared with 480 bln rupees it borrowed in the previous year, said Ajeet Agarwal, director-finance of the company.

* SADBHAV ENGINEERING: The company has won a road project worth 9.95 bln rupees from the Karnataka government on hybrid annuity model.

* STATE BANK OF INDIA: Has alerted all its offices on the pitfalls of dealing with companies carrying out trade with Russia and Iran which are battling the US sanctions.

* TATA MOTORS: Jaguar Land Rover is investing 3.7 mln pounds sterling to develop self-driving sport utility vehicles, the UK-based subsidiary of the company said in a press release. Is seeking to build on the FY18 turnaround in its domestic operations this fiscal year, betting on a range of new models to consolidate its hold on the competitive industry leaderboard.

* TATA STEEL: Moody's Investor Service said it has changed the company's rating outlook to 'positive' from 'stable' due to the company's improving credit profile and a consolidation in the domestic steel sector.

* TIME TECHNOPLAST: International Finance Corp, the private-sector investment arm of the World Bank, plans to provide 2.6 bln rupees to the company in debt funding.

* ULTRATECH CEMENT: The committee of creditors of Binani Cement has approved the company's resolution plan for the former.

* UNITECH: The meeting of the Audit Committee of the company, which was scheduled for today to approve financial results for the quarter and year ended Mar 31, has been adjourned to Jun 11.

* VEDANTA: National Company Law Appellate Tribunal has allowed the company to acquire
ELECTROSTEEL STEELS by depositing the upfront payment to the latter's Committee of Creditors.

* WIPRO: Wipro Infrastructure Engineering, a part of the company, has set up an industrial automation unit to gain a large share of the near $400-mln manufacturing automation market in India.