Today Stock News – 19.06.2018
* ADHUNIK METALIKS: Liberty House of UK has emerged as the lone bidder for the company, a maker of auto grade steel as the bid for another applicant, MAHARASHTRA SEAMLESS has been rejected for being below liquidation value.
* AU SMALL FINANCE BANK: Temasek Holdings, an investment vehicle owned by the Singapore government, has picked up 5% stake in the bank for 10 bln rupees.
* AXIS BANK: The search panel looking for a successor for Chief Executive Officer Shikha Sharma is understood to be considering P.S. Jayakumar, chief executive of BANK OF BARODA.
* BLUE DART EXPRESS: Has launched new aviation hub, which will be spread around 4,912 sq mtr of land and is located at Blue Dart Aviation Terminal in Chennai.
* BOROSIL GLASS WORKS: Board has approved issue of bonus shares in the ratio of three-for-one.
* GOA CARBON: Has temporarily shut down operations at its Paradeepgarh unit in Odisha from Saturday due to obstructions by contract workers as they demanded raising of retirement age to 60 years from 58 years.
* HDFC BANK: Is considering relying entirely on the Indian market for a share sale that could raise as much as 155 bln rupees.
* HINDALCO INDUSTRIES: Has cut the prices of aluminium ingots and wire rods by nearly 2%, effective Saturday.
* HINDUSTAN UNILEVER: Has filed a caveat petition against EMAMI, anticipating the rival to approach the court against an HUL ad that takes a potshot at EMAMI's Fair and Handsome fairness cream for men.
* ICICI BANK: The board has announced that Managing Director and Chief Executive Officer Chanda Kochhar will be on leave till the ongoing internal investigation is completed.
* IDBI BANK: Has raised its rates on retail term deposits below 10 mln rupees maturing in one-five years by 20 basis points to 6.70%, effective today.
* INDIAN OIL CORP: Is exploring term deals with producers in the US for purchase of about a mln tn of crude oil.
* INDO AMINES: Signed an agreement with Japan Tech Corp for further expansion of business.
* INDOSTAR CAPITAL: The board has approved issuance of non-convertible debentures worth up to 8 bln rupees, in one or more tranches, on a private placement basis.
* INFOSYS: Is using technologies such as machine learning, big data and analytics and artificial intelligence to map the learning ability of the employees and suggest training programmes that best suit them.
* INOX LEISURE: The board has approved merger of subsidiary Swanston Multiplex Cinemas with itself.
* KARUR VYSYA BANK: The board will meet on Jun 25 to consider the proposal of raising capital through preferential issue, private placement, non-convertible debt instruments, qualified institutional placements and for determination of issue amount.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: Has raised interest rates on fixed deposits by 25 basis points to 8.75%, for customers depositing funds through the online mode, to encourage paperless transactions.
* MARUTI SUZUKI INDIA: The company is likely to incur a capital expenditure of over 200 bln rupees during two consecutive financial years ending March 2020 in order to maintain market share during high demand and changing regulations, CRISIL Ratings said.
* PIRAMAL ENTERPRISES: Piramal Capital & Housing Finance, a wholly-owned subsidiary of the company, has sanctioned 2 bln rupees to Chennai-based realty developer Appaswamy Group.
* PUNJAB NATIONAL BANK: Has sought from a US court the power to issue subpoenas compelling the oral examination, under oath, of Mihir Bhansali, Rakhi Bhansali, Ajay Gandhi, Kunal Patel and Nirav Modi.
* SITI NETWORKS: Promoter Digital Satellite Media and Broadband has sold 7.1 mln shares or 0.8% stake in the company at 14.50 rupees per share in a bulk deal on the National Stock Exchange.
* TATA CONSULTANCY SERVICES: The company has launched a new delivery center in Paris which can house up to 230 employees.
* TATA GLOBAL BEVERAGES: Is planning to strengthen its packaged drinking water portfolio, and expand overseas to position its water brand Himalayan as a global label.
* TATA POWER CO: Is planning to expand its renewable portfolio three times, from current 2,272 MW to around 7,500 MW in next 5-6 years, Praveer Sinha, the company's MD and CEO said.
* TATA STEEL: Thyssenkrupp AG's top shareholders are skeptical about the company's plan to combine European steel operations with the company, and have discussed voting against the proposal at a board meeting as early as next
week.
* TECH MAHINDRA: Is learnt to have let go of about 1,500 employees for reasons ranging from poor performance to technology shifts.
* TITAN CO: Has sold its entire stake in Titan TimeProducts Ltd to Danlaw Technologies India Ltd for 185 mln rupees.
* ULTRATECH CEMENT: NCLT Kolkata reserved its judgement to accept or reject the company's resolution plan for Binani Cement until Jul 9. With Binani Cement's insolvency resolution process overshooting the 270-day time frame by nearly two months, the company's final acquisition cost may surpass its offer of 79.60 bln rupees for the cement firm, mainly due to the increasing number of cases and mounting interest costs.
* VEDANTA: Has slashed the prices of aluminium ingots and wire rods by more than 1% with effect from Saturday. Following a sulphuric acid leak on Sunday evening at the Sterlite copper smelter in Thoothukudi, the company has urged the local administration to allow its officials access to the plant to undertake maintenance
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* AU SMALL FINANCE BANK: Temasek Holdings, an investment vehicle owned by the Singapore government, has picked up 5% stake in the bank for 10 bln rupees.
* AXIS BANK: The search panel looking for a successor for Chief Executive Officer Shikha Sharma is understood to be considering P.S. Jayakumar, chief executive of BANK OF BARODA.
* BLUE DART EXPRESS: Has launched new aviation hub, which will be spread around 4,912 sq mtr of land and is located at Blue Dart Aviation Terminal in Chennai.
* BOROSIL GLASS WORKS: Board has approved issue of bonus shares in the ratio of three-for-one.
* GOA CARBON: Has temporarily shut down operations at its Paradeepgarh unit in Odisha from Saturday due to obstructions by contract workers as they demanded raising of retirement age to 60 years from 58 years.
* HDFC BANK: Is considering relying entirely on the Indian market for a share sale that could raise as much as 155 bln rupees.
* HINDALCO INDUSTRIES: Has cut the prices of aluminium ingots and wire rods by nearly 2%, effective Saturday.
* HINDUSTAN UNILEVER: Has filed a caveat petition against EMAMI, anticipating the rival to approach the court against an HUL ad that takes a potshot at EMAMI's Fair and Handsome fairness cream for men.
* ICICI BANK: The board has announced that Managing Director and Chief Executive Officer Chanda Kochhar will be on leave till the ongoing internal investigation is completed.
* IDBI BANK: Has raised its rates on retail term deposits below 10 mln rupees maturing in one-five years by 20 basis points to 6.70%, effective today.
* INDIAN OIL CORP: Is exploring term deals with producers in the US for purchase of about a mln tn of crude oil.
* INDO AMINES: Signed an agreement with Japan Tech Corp for further expansion of business.
* INDOSTAR CAPITAL: The board has approved issuance of non-convertible debentures worth up to 8 bln rupees, in one or more tranches, on a private placement basis.
* INFOSYS: Is using technologies such as machine learning, big data and analytics and artificial intelligence to map the learning ability of the employees and suggest training programmes that best suit them.
* INOX LEISURE: The board has approved merger of subsidiary Swanston Multiplex Cinemas with itself.
* KARUR VYSYA BANK: The board will meet on Jun 25 to consider the proposal of raising capital through preferential issue, private placement, non-convertible debt instruments, qualified institutional placements and for determination of issue amount.
* MAHINDRA & MAHINDRA FINANCIAL SERVICES: Has raised interest rates on fixed deposits by 25 basis points to 8.75%, for customers depositing funds through the online mode, to encourage paperless transactions.
* MARUTI SUZUKI INDIA: The company is likely to incur a capital expenditure of over 200 bln rupees during two consecutive financial years ending March 2020 in order to maintain market share during high demand and changing regulations, CRISIL Ratings said.
* PIRAMAL ENTERPRISES: Piramal Capital & Housing Finance, a wholly-owned subsidiary of the company, has sanctioned 2 bln rupees to Chennai-based realty developer Appaswamy Group.
* PUNJAB NATIONAL BANK: Has sought from a US court the power to issue subpoenas compelling the oral examination, under oath, of Mihir Bhansali, Rakhi Bhansali, Ajay Gandhi, Kunal Patel and Nirav Modi.
* SITI NETWORKS: Promoter Digital Satellite Media and Broadband has sold 7.1 mln shares or 0.8% stake in the company at 14.50 rupees per share in a bulk deal on the National Stock Exchange.
* TATA CONSULTANCY SERVICES: The company has launched a new delivery center in Paris which can house up to 230 employees.
* TATA GLOBAL BEVERAGES: Is planning to strengthen its packaged drinking water portfolio, and expand overseas to position its water brand Himalayan as a global label.
* TATA POWER CO: Is planning to expand its renewable portfolio three times, from current 2,272 MW to around 7,500 MW in next 5-6 years, Praveer Sinha, the company's MD and CEO said.
* TATA STEEL: Thyssenkrupp AG's top shareholders are skeptical about the company's plan to combine European steel operations with the company, and have discussed voting against the proposal at a board meeting as early as next
week.
* TECH MAHINDRA: Is learnt to have let go of about 1,500 employees for reasons ranging from poor performance to technology shifts.
* TITAN CO: Has sold its entire stake in Titan TimeProducts Ltd to Danlaw Technologies India Ltd for 185 mln rupees.
* ULTRATECH CEMENT: NCLT Kolkata reserved its judgement to accept or reject the company's resolution plan for Binani Cement until Jul 9. With Binani Cement's insolvency resolution process overshooting the 270-day time frame by nearly two months, the company's final acquisition cost may surpass its offer of 79.60 bln rupees for the cement firm, mainly due to the increasing number of cases and mounting interest costs.
* VEDANTA: Has slashed the prices of aluminium ingots and wire rods by more than 1% with effect from Saturday. Following a sulphuric acid leak on Sunday evening at the Sterlite copper smelter in Thoothukudi, the company has urged the local administration to allow its officials access to the plant to undertake maintenance
