Today Stock News – 08.06.2018
* AXIS BANK: Has launched a virtual assistant for customers armed with proprietary artificial intelligence and machine learning algorithms and named it Axis Aha.
* BHARTI AIRTEL: Plans to strengthen its network in Mumbai by deploying 7,000 new mobile sites in 2018-19 (AprMar). Is offering subscribers six months of free subscription to the Airtel television app, to celebrate its application surpassing 50 mln downloads on the Google Play store.
* CANARA BANK: Has raised its marginal cost of funds-based lending rates by 5-10 basis points across tenures.
* CENTURY TEXTILES AND INDUSTRIES: Is focusing on growing its real estate business post its proposed divestment of cement division to ULTRATECH CEMENT.
* DR REDDY'S LABORATORIES: Expects to launch the generic version of Copaxone in the US market during the first half of next fiscal.
* ELECTROSTEEL CASTINGS: The company's stake in ELECTROSTEEL STEELS has fallen to 11.11% from 45.23%.
* FORTIS HEALTHCARE: The due diligence of the company has unearthed unpaid vendors' bills of 4.50 bln rupees, a 5.03-bln-rupee penalty on its subsidiary Fortis Escorts Heart Institute and undisclosed land-related issues at three of its hospitals.
* FUTURE CONSUMER: Expects sales to grow 70% in 2018-19 (Apr-Mar), backed by a rapidly expanding network of stores of group company FUTURE RETAIL.
* FUTURE RETAIL: Cedar Support Services, a Bharti group entity, has sold 30.3 mln shares or 6% stake in the company to PremjiInvest at 560.01 rupees each, in a bulk deal on the National Stock Exchange.
* HINDUSTAN UNILEVER: Is focusing on developing new markets for its products, strengthening its core brands, enhancing its natural products portfolio, and creating new product categories to drive sales growth.
* HOUSING DEVELOPMENT FINANCE CORP: Is in talks to raise $750 mln, or about 50.35 bln rupees, through external commercial borrowings to finance onward lending to housing borrowers.
* ICICI BANK: The ministry of corporate affairs is looking into companies involved in the bank's controversy of alleged conflict of interest in CEO Chanda Kochhar's dealings with certain borrowers. The bank and Kochhar have sought more time to respond to a show-cause notice served by SEBI.
* IDBI BANK: The bank and FEDERAL BANK have laid fresh conditions for stake sale in IDBI Federal Life Insurance, their joint venture with the Netherlands-based Ageas.
* IDFC: Has brought in the UK's CDC Group as an investor in the third private equity fund managed by its alternative asset management business IDFC Alternatives.
* IIFL HOLDINGS: The company-sponsored real estate investment trust has received certificate of registration from Securities and Exchange Board of India to undertake activities.
* IL&FS TRANSPORTATION NETWORKS: Has raised around 1.86 bln rupees in debt financing from KfW IPEX-Bank.
* INDIAN BANK: Will raise its MCLR by 5-10 basis points across tenures from Monday, the lender
informed exchanges.
* INDIAN HOTELS CO: The New Delhi Municipal Council's ambitious plan to auction the Taj Mansingh Hotel has almost drawn a blank, with only the company bidding for the property.
* INTELLECT DESIGN ARENA: The company and IBM will deliver digital corporate banking solutions to some of theworld's largest banks through IBM Cloud.
* ITC: Has acquired floor cleaning brand Nimyle from Kolkata-based Arpita Agro Products for an undisclosed amount, marking the company's entry into the home care segment.
* MAHINDRA & MAHINDRA: The company, the world's largest tractor maker by volume that exited a Chinese joint venture last year, is planning to return to the $25-bln agriculture equipment market in that country.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: Has plans to raise about 100-120 bln
mostly in the second half of the financial year, Vice Chairman and Managing Director Ramesh G. Iyer said.
* MAN INDUSTRIES INDIA: Board will meet Wednesday to discuss divestment of its shares in wholly-owned subsidiary Merino Shelters.
* NARAYANA HRUDAYALAYA: Transferred its entire stake in wholly-owned subsidiary Narayana Holdings to Narayana Cayman Holdings, another fully-owned arm, for $680,837.
* NMDC: Plans to deploy a capital expenditure of about 25 bln rupees this fiscal, up 25% over the 20 bln rupees deployed in FY18.
* OMAX AUTOS: Approved an investment of 1.0-1.2 bln rupees for doubling the existing production capacity and supply equipment to Indian Railways.
* RATTANINDIA POWER: Creditors to the company will meet the officials of Mahagenco next week to discuss the takeover of the facility at Nashik.
* RELIANCE INDUSTRIES: Reliance Jio Infocomm is making progress on trials for its enterprise solutions and fibre-tothe-home internet service ahead of a commercial rollout, the company said. Plans to start drilling development wells in the R-Cluster fields of its KG-D6 block in the Bay of Bengal during the current financial year as part of the company and its partner BP's plans to invest a massive 400 bln rupees to boost oil and gas production from the block. Has sought shareholder approval to raise up to 200 bln rupees through a non-convertible debenture issue in 2018-19, according to its annual report for FY18.
- Reliance Jio Infocomm reiterated its backing for the regulator's decision to slash the interconnection usage charge, saying it removes an "artificial tariff hurdle" and will lead to quicker adoption of advanced technologies like voice-over LTE. Wants its consumer businesses--Reliance Jio Infocomm and Reliance Retail--to contribute on par with its energy and materials businesses over the next decade, chairman and managing director Mukesh Ambani said in his letter to shareholders.
- Reliance Jio now plans to focus on the rural markets where it sees huge scope, especially for increasing internet usage and fourth generation-enabled phones.
* SHARDA CROPCHEM: Goldman Sachs India Fund has sold 1.37 mln shares or 1.52% stake in the company through two bulk deals on BSE and the National Stock Exchange.
* STATE BANK OF INDIA: Chairman Rajnish Kumar has raised the red flag from a "systemic risk point of view" on further mergers by India's largest bank, which already has "over 20% market share. The National Company Law Tribunal has heard a petition filed by the bank to initiate bankruptcy proceedings under the Insolvency and Bankruptcy Code against Videocon Telecommunication.
* STEEL AUTHORITY OF INDIA: A joint venture between the company and ArcelorMittal group is likely to finalise Odisha as the location for its proposed 1.5-mln-tn automotive grade steel manufacturing unit.
* TATA CONSULTANCY SERVICES: Launched TCS Digital Reimagination Framework on Microsoft Azure and powered by SAP Leonardo.
* TATA MOTORS: Announced limited offers for its passenger vehicles till Jun 25, including benefits of up to 100,000 rupees and a provision for insurance at 1 rupee.
* TATA STEEL: Has placed an aggressive bid of 60 bln rupees to acquire Kolkata-based USHA MARTIN, a specialty steel producer with a production capacity of 1 mln tn in Jamshedpur.
* TATA TELESERVICES MAHARASHTRA: Tata Sons, the holding company of the Tata group, is raising $1.5 bln from the international markets to invest in group's infrastructure projects and pay off loans of the company.
* TIME TECHNOPLAST: Received an order worth 400 mln rupees to supply 175 km of power cable ducts and accessories.
* URJA GLOBAL: Signed a memorandum of understanding with Walden Agri Infra to create panchayat-level "urja kendras" or energy centres across districts of Uttar Pradesh and Rajasthan for sales and marketing of solar products, batteries, e-rickshaws, and liquid-crystal displays.
* WIPRO: Tariq Premji, the younger son of chairman Azim Premji, has been appointed to the board of company's arm, Wipro Enterprises.
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* BHARTI AIRTEL: Plans to strengthen its network in Mumbai by deploying 7,000 new mobile sites in 2018-19 (AprMar). Is offering subscribers six months of free subscription to the Airtel television app, to celebrate its application surpassing 50 mln downloads on the Google Play store.
* CANARA BANK: Has raised its marginal cost of funds-based lending rates by 5-10 basis points across tenures.
* CENTURY TEXTILES AND INDUSTRIES: Is focusing on growing its real estate business post its proposed divestment of cement division to ULTRATECH CEMENT.
* DR REDDY'S LABORATORIES: Expects to launch the generic version of Copaxone in the US market during the first half of next fiscal.
* ELECTROSTEEL CASTINGS: The company's stake in ELECTROSTEEL STEELS has fallen to 11.11% from 45.23%.
* FORTIS HEALTHCARE: The due diligence of the company has unearthed unpaid vendors' bills of 4.50 bln rupees, a 5.03-bln-rupee penalty on its subsidiary Fortis Escorts Heart Institute and undisclosed land-related issues at three of its hospitals.
* FUTURE CONSUMER: Expects sales to grow 70% in 2018-19 (Apr-Mar), backed by a rapidly expanding network of stores of group company FUTURE RETAIL.
* FUTURE RETAIL: Cedar Support Services, a Bharti group entity, has sold 30.3 mln shares or 6% stake in the company to PremjiInvest at 560.01 rupees each, in a bulk deal on the National Stock Exchange.
* HINDUSTAN UNILEVER: Is focusing on developing new markets for its products, strengthening its core brands, enhancing its natural products portfolio, and creating new product categories to drive sales growth.
* HOUSING DEVELOPMENT FINANCE CORP: Is in talks to raise $750 mln, or about 50.35 bln rupees, through external commercial borrowings to finance onward lending to housing borrowers.
* ICICI BANK: The ministry of corporate affairs is looking into companies involved in the bank's controversy of alleged conflict of interest in CEO Chanda Kochhar's dealings with certain borrowers. The bank and Kochhar have sought more time to respond to a show-cause notice served by SEBI.
* IDBI BANK: The bank and FEDERAL BANK have laid fresh conditions for stake sale in IDBI Federal Life Insurance, their joint venture with the Netherlands-based Ageas.
* IDFC: Has brought in the UK's CDC Group as an investor in the third private equity fund managed by its alternative asset management business IDFC Alternatives.
* IIFL HOLDINGS: The company-sponsored real estate investment trust has received certificate of registration from Securities and Exchange Board of India to undertake activities.
* IL&FS TRANSPORTATION NETWORKS: Has raised around 1.86 bln rupees in debt financing from KfW IPEX-Bank.
* INDIAN BANK: Will raise its MCLR by 5-10 basis points across tenures from Monday, the lender
informed exchanges.
* INDIAN HOTELS CO: The New Delhi Municipal Council's ambitious plan to auction the Taj Mansingh Hotel has almost drawn a blank, with only the company bidding for the property.
* INTELLECT DESIGN ARENA: The company and IBM will deliver digital corporate banking solutions to some of theworld's largest banks through IBM Cloud.
* ITC: Has acquired floor cleaning brand Nimyle from Kolkata-based Arpita Agro Products for an undisclosed amount, marking the company's entry into the home care segment.
* MAHINDRA & MAHINDRA: The company, the world's largest tractor maker by volume that exited a Chinese joint venture last year, is planning to return to the $25-bln agriculture equipment market in that country.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: Has plans to raise about 100-120 bln
mostly in the second half of the financial year, Vice Chairman and Managing Director Ramesh G. Iyer said.
* MAN INDUSTRIES INDIA: Board will meet Wednesday to discuss divestment of its shares in wholly-owned subsidiary Merino Shelters.
* NARAYANA HRUDAYALAYA: Transferred its entire stake in wholly-owned subsidiary Narayana Holdings to Narayana Cayman Holdings, another fully-owned arm, for $680,837.
* NMDC: Plans to deploy a capital expenditure of about 25 bln rupees this fiscal, up 25% over the 20 bln rupees deployed in FY18.
* OMAX AUTOS: Approved an investment of 1.0-1.2 bln rupees for doubling the existing production capacity and supply equipment to Indian Railways.
* RATTANINDIA POWER: Creditors to the company will meet the officials of Mahagenco next week to discuss the takeover of the facility at Nashik.
* RELIANCE INDUSTRIES: Reliance Jio Infocomm is making progress on trials for its enterprise solutions and fibre-tothe-home internet service ahead of a commercial rollout, the company said. Plans to start drilling development wells in the R-Cluster fields of its KG-D6 block in the Bay of Bengal during the current financial year as part of the company and its partner BP's plans to invest a massive 400 bln rupees to boost oil and gas production from the block. Has sought shareholder approval to raise up to 200 bln rupees through a non-convertible debenture issue in 2018-19, according to its annual report for FY18.
- Reliance Jio Infocomm reiterated its backing for the regulator's decision to slash the interconnection usage charge, saying it removes an "artificial tariff hurdle" and will lead to quicker adoption of advanced technologies like voice-over LTE. Wants its consumer businesses--Reliance Jio Infocomm and Reliance Retail--to contribute on par with its energy and materials businesses over the next decade, chairman and managing director Mukesh Ambani said in his letter to shareholders.
- Reliance Jio now plans to focus on the rural markets where it sees huge scope, especially for increasing internet usage and fourth generation-enabled phones.
* SHARDA CROPCHEM: Goldman Sachs India Fund has sold 1.37 mln shares or 1.52% stake in the company through two bulk deals on BSE and the National Stock Exchange.
* STATE BANK OF INDIA: Chairman Rajnish Kumar has raised the red flag from a "systemic risk point of view" on further mergers by India's largest bank, which already has "over 20% market share. The National Company Law Tribunal has heard a petition filed by the bank to initiate bankruptcy proceedings under the Insolvency and Bankruptcy Code against Videocon Telecommunication.
* STEEL AUTHORITY OF INDIA: A joint venture between the company and ArcelorMittal group is likely to finalise Odisha as the location for its proposed 1.5-mln-tn automotive grade steel manufacturing unit.
* TATA CONSULTANCY SERVICES: Launched TCS Digital Reimagination Framework on Microsoft Azure and powered by SAP Leonardo.
* TATA MOTORS: Announced limited offers for its passenger vehicles till Jun 25, including benefits of up to 100,000 rupees and a provision for insurance at 1 rupee.
* TATA STEEL: Has placed an aggressive bid of 60 bln rupees to acquire Kolkata-based USHA MARTIN, a specialty steel producer with a production capacity of 1 mln tn in Jamshedpur.
* TATA TELESERVICES MAHARASHTRA: Tata Sons, the holding company of the Tata group, is raising $1.5 bln from the international markets to invest in group's infrastructure projects and pay off loans of the company.
* TIME TECHNOPLAST: Received an order worth 400 mln rupees to supply 175 km of power cable ducts and accessories.
* URJA GLOBAL: Signed a memorandum of understanding with Walden Agri Infra to create panchayat-level "urja kendras" or energy centres across districts of Uttar Pradesh and Rajasthan for sales and marketing of solar products, batteries, e-rickshaws, and liquid-crystal displays.
* WIPRO: Tariq Premji, the younger son of chairman Azim Premji, has been appointed to the board of company's arm, Wipro Enterprises.
