Today Stock News – 25.01.2018
* 8K MILES SOFTWARE SERVICES: Promoter of the company R.S. Ramani sold 682,506 shares, or 2.2% stake, in the company in open market on Monday.
* ALLAHABAD BANK: To get 15 bln rupees worth recapitalisation in 2017-18.
* ANDHRA BANK: To get 18.90 bln rupees worth recapitalisation in 2017-18.
* ANDHRA PETROCHEMICALS: KLJ Plasticizers has sold 2.04% stake or 1.73 mln shares in the
company in open market.
* APOLLO PIPES: Canara HSBC Oriental Bank of Commerce Life Insurance Co has bought 83,489 shares or 0.8% stake in the company at 640 rupees a share through a bulk deal on the BSE.
* BANK OF BARODA: To get 53.75 bln rupees worth recapitalisation in 2017-18. In three years, BOB Financial Solutions aims to become the third-largest issuer of credit cards in terms of incremental cards issued each month, Managing Director and Chief Executive Officer Manoj Piplani said. Through its arm Bank of Baroda Financial Solutions has launched the '5X Rewards' credit card.
* BANK OF INDIA: To get 92.32 bln rupees worth recapitalisation in 2017-18.
* BANK OF MAHARASHTRA: To get 31.73 bln rupees recapitalisation 2017-18.
* BHARAT ELECTRONICS: The board will meet on Jan 30 to consider a proposal to buy back its fully paid-up equity shares.
* BHUSHAN STEEL: Lenders to the company expect VEDANTA and JSW STEEL to make the most aggressive bids almost double the liquidation value of 150 bln rupees for the company. The last date to bid for the stressed asset of the company has been extended to Feb 3 from Jan 25 as the lenders expect more bids from interested corporates.
* BSE: HDFC Securities, in partnership with the company, has launched a daily systematic investment plan having a minimum investment limit of 500 rupees.
* CADILA HEALTHCARE: Is now putting focus on new areas with growth opportunities, such as
biosimilars and vaccines.
* CENTRAL BANK: To get 51.58 bln rupees worth recapitalisation 2017-18.
* CONTAINER CORP OF INDIA: The board has recommended to pay 9.60 rupees per share interim dividend.
* CORPORATION BANK: To get 21.87 bln rupees worth recapitalisation 2017-18.
* CRISIL: Has completed the 100% acquisition of Pragmatix Services.
* CYIENT: Deutsche Securities Mauritius sold 5.46 mln shares or 4.85% stake in the company at 630.35 rupees apiece in a bulk deal on the National Stock Exchange on Wednesday.
* DENA BANK: To get 30.45 bln rupees worth recapitalisation in 2017-18.
* DR REDDY'S LABORATORIES: Has received clearance from German drug regulator for formulations manufacturing unit-2 located at Bachupally in Hyderabad following the re-inspection of the unit.
* ELECTROSTEEL STEELS: The company, for which VEDANTA had emerged as the highest bidder, is likely to see a revision in bids.
* FUTURE SUPPLY CHAIN SOLUTIONS: Is believed to have agreed to terms to acquire Vulcan Express, the logistics arm of Jasper Infotech, which also owns and operates online marketplace Snapdeal.
* GTL INFRASTRUCTURE: Has filed a petition in Delhi High Court to block financial restructuring of Aircel until the mobile service provider pays it over 9 bln rupees for outstanding dues and premature rent cancellation.
* HOUSING DEVELOPMENT & INFRASTRUCTURE: Acadian Emerging Markets Small-Cap Equity Fund LLC sold 2.49 mln shares or 0.57% stakes in the company at 59.97 rupees a share in a bulk deal on the National Stock Exchange on Wednesday.
* ICICI LOMBARD GENERAL INSURANCE CO: Has launched a mobile app that enables cashless visits to doctors who operate standalone clinics.
* IDBI BANK: To get 106.10 bln rupees worth recapitalisation in 2017-18. Finance Minister Arun Jaitley said the government's decision on privatisation of the bank stands and it will be implemented at the right time.
* INDIABULLS HOUSING FINANCE: Has raised 5.25 bln rupees through the issuance of two sets of nonconvertible debentures that were allotted on Wednesday.
* INDOCO REMEDIES: India Whizdom Fund has sold 1.09 mln shares or 1.2% stake in the company through bulk deals on the National Stock Exchange and the BSE.
* INDIAN OVERSEAS BANK: To get 46.94 bln rupees recapitalisation 2017-18.
* INFOSYS: TATA CONSULTANCY SERVICES and the company have joined a global drive for tech reskilling of 1 mln workers.
* IRB INFRASTRUCTURE DEVELOPERS: The board has declared distribution of 1.74 bln rupees to its unitholders, translating into a payout of 3 rupees per unit.
* JINDAL STAINLESS: Reliance Capital Trustee Co through various schemes of Reliance Mutual Fund sold 156,733 shares or 0.06% stake in Jindal Stainless (Hisar), a subsidiary of the company, in open market on Monday.
* JSW STEEL: Japanese steelmaker JFE Holdings and the company are likely to put in a joint bid for
BHUSHAN STEEL.
* L&T TECHNOLOGY SERVICES: Aims to end 2017-18 (Apr-Mar) with an 18% growth in sales in dollar terms, led by large order wins in the avionics, internet of things, and artificial intelligence segments.
* LIBERTY SHOES: The board has approved the discontinuation of its Dubai-based subsidiary, Liberty Foot Fashion Middle East FZE, by disposal or liquidation.
* MAJESCO: Will provide software to Reliance Nippon Life Insurance Co for management of insurance distribution channels.
* NATIONAL FERTILIZERS: The government has extended the permission granted to the company for import of urea by two months till Feb 26, as per a notification by the Directorate General of Foreign
Trade.
* NAVKAR BUILDERS: Will increase the authorised share capital to 220 mln rupees from 200 mln
rupees.
* NCC: The company's qualified institutional placement opened on Wednesday. The floor price set at
129.47 rupees per share.
* OIL & NATURAL GAS CORP: Has entered into agreements to borrow 40 bln rupees from ICICI BANK and $250 mln from Export-Import Bank of India to fund its purchase of the government's 51.11% stake in HINDUSTAN PETROLEUM CORP. Both the loans are for a period of one year.
-Has signed agreements with two more banks for 113.4 bln rupees to part fund its acquisition of
the government's majority stake in Hindustan Petroleum Corp.
* ORIENTAL BANK OF COMMERCE: To get 35.71 bln rupees worth recapitalisation in 2017-18.
* POWER FINANCE CORP: Has sought bids for bonds maturing in 10 years on Thursday.
-Has sanctioned 13.51 bln rupees financial assistance to Bihar Grid Co.
* PUNJAB & SIND BANK: To get 7.9 bln rupees worth recapitalisation in 2017-18.
* PUNJAB NATIONAL BANK: To get 54.73 bln rupees worth recapitalisation in 2017-18.
-Said that some of its customer services might be temporarily disrupted due to initial glitches in
the upgrade of banking technology.
* QUESS CORP: The board has approved the acquisition of 90% stake in Greenpiece Landscapes India for 262 mln rupees. It has appointed Ajit Isaac as chairman and managing director of the
company for five years with effect from Wednesday.
-Has appointed Subrata Nag as chief executive officer and executive director and Manoj Jain as
chief financial officer for five years with effect from Wednesday.
* RADHA MADHAV CORP: Board has proposed formation of a wholly-owned subsidiary in Hong Kong to explore business opportunities in Southeast Asian countries.
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm is in talks with Xiaomi to to sell the Chinese brand's televisions and smartphones exclusively through the Jio retail network and the
Reliance Digital chain of stores. Subsidiary Reliance Retail has got into the list of top 250 global
retailers list this year, at 189.
* SADBHAV ENGINEERING: ICICI Prudential Mutual Fund along with Eastspring Investments
(Singapore) sold 0.21% stake or 357,155 shares in the company on Monday.
* STATE BANK OF INDIA: To get 88 bln rupees worth recapitalisation in 2017-18. The bank, which has been allocated 88 bln rupees recapitalisation money from the government, will use the additional
capital to meet loan growth requirements, P.K. Gupta, managing director of the bank, said.
* SYNDICATE BANK: To get 28.39 bln rupees worth recapitalisation in 2017-18.
* TATA CONSULTANCY SERVICES: Entered into a partnership with US-based Mesosphere to help customers utilise data services and cloud platforms.
* TATA MOTORS: Is revamping its after sales service dealerships, with plans to double them to over
1,500 in the next two years.
* TVS MOTOR CO: More than 5 mln rupees worth counterfeit automotive spare parts of the company have been seized in the past three months during raids in different states.
* UCO BANK: To get 65.07 bln rupees worth recapitalisation in 2017-18.
* UNION BANK OF INDIA: To get 45.24 bln rupees worth recapitalisation in 2017-18. .
* UNITED BANK: To get 26.34 bln rupees worth recapitalisation in 2017-18.
* VIJAYA BANK: To get 12.77 bln rupees worth recapitalisation in 2017-18. The bank expects the fund infusion detailed by the government to help improve its capital adequacy ratio to 13.5% at the current level of loan growth, from 12.5% now, Managing Director and Chief Executive Officer R. A. Sankara Narayanan said.
* VIJI FINANCE: The company will, on Jan 31, consider expanding business in the micro-finance sector.
* WIPRO: Will acquire minority stake in US-based Harte Hanks for $9.9 mln.
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* ALLAHABAD BANK: To get 15 bln rupees worth recapitalisation in 2017-18.
* ANDHRA BANK: To get 18.90 bln rupees worth recapitalisation in 2017-18.
* ANDHRA PETROCHEMICALS: KLJ Plasticizers has sold 2.04% stake or 1.73 mln shares in the
company in open market.
* APOLLO PIPES: Canara HSBC Oriental Bank of Commerce Life Insurance Co has bought 83,489 shares or 0.8% stake in the company at 640 rupees a share through a bulk deal on the BSE.
* BANK OF BARODA: To get 53.75 bln rupees worth recapitalisation in 2017-18. In three years, BOB Financial Solutions aims to become the third-largest issuer of credit cards in terms of incremental cards issued each month, Managing Director and Chief Executive Officer Manoj Piplani said. Through its arm Bank of Baroda Financial Solutions has launched the '5X Rewards' credit card.
* BANK OF INDIA: To get 92.32 bln rupees worth recapitalisation in 2017-18.
* BANK OF MAHARASHTRA: To get 31.73 bln rupees recapitalisation 2017-18.
* BHARAT ELECTRONICS: The board will meet on Jan 30 to consider a proposal to buy back its fully paid-up equity shares.
* BHUSHAN STEEL: Lenders to the company expect VEDANTA and JSW STEEL to make the most aggressive bids almost double the liquidation value of 150 bln rupees for the company. The last date to bid for the stressed asset of the company has been extended to Feb 3 from Jan 25 as the lenders expect more bids from interested corporates.
* BSE: HDFC Securities, in partnership with the company, has launched a daily systematic investment plan having a minimum investment limit of 500 rupees.
* CADILA HEALTHCARE: Is now putting focus on new areas with growth opportunities, such as
biosimilars and vaccines.
* CENTRAL BANK: To get 51.58 bln rupees worth recapitalisation 2017-18.
* CONTAINER CORP OF INDIA: The board has recommended to pay 9.60 rupees per share interim dividend.
* CORPORATION BANK: To get 21.87 bln rupees worth recapitalisation 2017-18.
* CRISIL: Has completed the 100% acquisition of Pragmatix Services.
* CYIENT: Deutsche Securities Mauritius sold 5.46 mln shares or 4.85% stake in the company at 630.35 rupees apiece in a bulk deal on the National Stock Exchange on Wednesday.
* DENA BANK: To get 30.45 bln rupees worth recapitalisation in 2017-18.
* DR REDDY'S LABORATORIES: Has received clearance from German drug regulator for formulations manufacturing unit-2 located at Bachupally in Hyderabad following the re-inspection of the unit.
* ELECTROSTEEL STEELS: The company, for which VEDANTA had emerged as the highest bidder, is likely to see a revision in bids.
* FUTURE SUPPLY CHAIN SOLUTIONS: Is believed to have agreed to terms to acquire Vulcan Express, the logistics arm of Jasper Infotech, which also owns and operates online marketplace Snapdeal.
* GTL INFRASTRUCTURE: Has filed a petition in Delhi High Court to block financial restructuring of Aircel until the mobile service provider pays it over 9 bln rupees for outstanding dues and premature rent cancellation.
* HOUSING DEVELOPMENT & INFRASTRUCTURE: Acadian Emerging Markets Small-Cap Equity Fund LLC sold 2.49 mln shares or 0.57% stakes in the company at 59.97 rupees a share in a bulk deal on the National Stock Exchange on Wednesday.
* ICICI LOMBARD GENERAL INSURANCE CO: Has launched a mobile app that enables cashless visits to doctors who operate standalone clinics.
* IDBI BANK: To get 106.10 bln rupees worth recapitalisation in 2017-18. Finance Minister Arun Jaitley said the government's decision on privatisation of the bank stands and it will be implemented at the right time.
* INDIABULLS HOUSING FINANCE: Has raised 5.25 bln rupees through the issuance of two sets of nonconvertible debentures that were allotted on Wednesday.
* INDOCO REMEDIES: India Whizdom Fund has sold 1.09 mln shares or 1.2% stake in the company through bulk deals on the National Stock Exchange and the BSE.
* INDIAN OVERSEAS BANK: To get 46.94 bln rupees recapitalisation 2017-18.
* INFOSYS: TATA CONSULTANCY SERVICES and the company have joined a global drive for tech reskilling of 1 mln workers.
* IRB INFRASTRUCTURE DEVELOPERS: The board has declared distribution of 1.74 bln rupees to its unitholders, translating into a payout of 3 rupees per unit.
* JINDAL STAINLESS: Reliance Capital Trustee Co through various schemes of Reliance Mutual Fund sold 156,733 shares or 0.06% stake in Jindal Stainless (Hisar), a subsidiary of the company, in open market on Monday.
* JSW STEEL: Japanese steelmaker JFE Holdings and the company are likely to put in a joint bid for
BHUSHAN STEEL.
* L&T TECHNOLOGY SERVICES: Aims to end 2017-18 (Apr-Mar) with an 18% growth in sales in dollar terms, led by large order wins in the avionics, internet of things, and artificial intelligence segments.
* LIBERTY SHOES: The board has approved the discontinuation of its Dubai-based subsidiary, Liberty Foot Fashion Middle East FZE, by disposal or liquidation.
* MAJESCO: Will provide software to Reliance Nippon Life Insurance Co for management of insurance distribution channels.
* NATIONAL FERTILIZERS: The government has extended the permission granted to the company for import of urea by two months till Feb 26, as per a notification by the Directorate General of Foreign
Trade.
* NAVKAR BUILDERS: Will increase the authorised share capital to 220 mln rupees from 200 mln
rupees.
* NCC: The company's qualified institutional placement opened on Wednesday. The floor price set at
129.47 rupees per share.
* OIL & NATURAL GAS CORP: Has entered into agreements to borrow 40 bln rupees from ICICI BANK and $250 mln from Export-Import Bank of India to fund its purchase of the government's 51.11% stake in HINDUSTAN PETROLEUM CORP. Both the loans are for a period of one year.
-Has signed agreements with two more banks for 113.4 bln rupees to part fund its acquisition of
the government's majority stake in Hindustan Petroleum Corp.
* ORIENTAL BANK OF COMMERCE: To get 35.71 bln rupees worth recapitalisation in 2017-18.
* POWER FINANCE CORP: Has sought bids for bonds maturing in 10 years on Thursday.
-Has sanctioned 13.51 bln rupees financial assistance to Bihar Grid Co.
* PUNJAB & SIND BANK: To get 7.9 bln rupees worth recapitalisation in 2017-18.
* PUNJAB NATIONAL BANK: To get 54.73 bln rupees worth recapitalisation in 2017-18.
-Said that some of its customer services might be temporarily disrupted due to initial glitches in
the upgrade of banking technology.
* QUESS CORP: The board has approved the acquisition of 90% stake in Greenpiece Landscapes India for 262 mln rupees. It has appointed Ajit Isaac as chairman and managing director of the
company for five years with effect from Wednesday.
-Has appointed Subrata Nag as chief executive officer and executive director and Manoj Jain as
chief financial officer for five years with effect from Wednesday.
* RADHA MADHAV CORP: Board has proposed formation of a wholly-owned subsidiary in Hong Kong to explore business opportunities in Southeast Asian countries.
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm is in talks with Xiaomi to to sell the Chinese brand's televisions and smartphones exclusively through the Jio retail network and the
Reliance Digital chain of stores. Subsidiary Reliance Retail has got into the list of top 250 global
retailers list this year, at 189.
* SADBHAV ENGINEERING: ICICI Prudential Mutual Fund along with Eastspring Investments
(Singapore) sold 0.21% stake or 357,155 shares in the company on Monday.
* STATE BANK OF INDIA: To get 88 bln rupees worth recapitalisation in 2017-18. The bank, which has been allocated 88 bln rupees recapitalisation money from the government, will use the additional
capital to meet loan growth requirements, P.K. Gupta, managing director of the bank, said.
* SYNDICATE BANK: To get 28.39 bln rupees worth recapitalisation in 2017-18.
* TATA CONSULTANCY SERVICES: Entered into a partnership with US-based Mesosphere to help customers utilise data services and cloud platforms.
* TATA MOTORS: Is revamping its after sales service dealerships, with plans to double them to over
1,500 in the next two years.
* TVS MOTOR CO: More than 5 mln rupees worth counterfeit automotive spare parts of the company have been seized in the past three months during raids in different states.
* UCO BANK: To get 65.07 bln rupees worth recapitalisation in 2017-18.
* UNION BANK OF INDIA: To get 45.24 bln rupees worth recapitalisation in 2017-18. .
* UNITED BANK: To get 26.34 bln rupees worth recapitalisation in 2017-18.
* VIJAYA BANK: To get 12.77 bln rupees worth recapitalisation in 2017-18. The bank expects the fund infusion detailed by the government to help improve its capital adequacy ratio to 13.5% at the current level of loan growth, from 12.5% now, Managing Director and Chief Executive Officer R. A. Sankara Narayanan said.
* VIJI FINANCE: The company will, on Jan 31, consider expanding business in the micro-finance sector.
* WIPRO: Will acquire minority stake in US-based Harte Hanks for $9.9 mln.
