Today's Stock News - 27.02.2020 : 09.00 Am
* BHARTI AIRTEL: Can withstand a payout of about 355.86 bln rupees towards its statutory adjusted gross revenue dues on the back of its recent $3-bln fundraise, Moody's Investors Service said.
* BHARTI INFRATEL: Is said to be hesitant about going ahead with a plan involving a merger with Indus Towers and a buyout of 7% equity stake from VODAFONE IDEA in the resultant entity.
* BLUE STAR: In a bid to increase market share in residential air conditioners to 15% by 2023-24 (Apr- Mar) from 12.5% in 2018-19, the company will enter small towns and cities, the company's President – Sales & Marketing, Product Business C.P. Mukundan Menon said.
* CAN FIN HOMES: Has set 7.85% coupon on bonds maturing in three years and three months, and
accepted bids aggregating to 2.5 bln rupees.
* CARBORUNDUM UNIVERSAL: Will pay an interim dividend of 2.75 rupee per share.
* CCL PRODUCTS INDIA: Will pay an interim dividend of 1.50 rupee per share.
* CHOLAMANDALAM FINANCIAL HOLDINGS: Will pay an interim dividend of 0.65 rupee per
share.
* COFFEE DAY ENTERPRISES: Blackstone Group Inc has proceeded with the acquisition of the
company's technology park as it is set to pay the first tranche of 1.50 bln rupees as soon as Wednesday.
* CONTAINER CORP OF INDIA: The company and Russian Railways Logistics have signed a
memorandum of understanding for cooperation and collaboration in promoting intermodal transportation of cargo over the International North-South Transport Corridor.
* CREDITACCESS GRAMEEN: Has received a no-objection letter from the Bengaluru branch of the Reserve Bank of India to acquire up to 76.34% stake in Madura Micro Finance.
* DEWAN HOUSING FINANCE CORP: The resolution of the company is witnessing growing tussle between its bondholders and fixed depositors, both seeking priority in recovering their investments.
* GLAXOSMITHKLINE CONSUMER HEALTHCARE: The Chandigarh bench of the National Company Law Tribunal has approved the company's merger into HINDUSTAN UNILEVER.
* GRAVITA INDIA: Board of the company's step-down subsidiary Gravita Cameroon have closed the company due to operational loss.
* HCL TECHNOLOGIES: Has completed its first year of delivering digital workplace services to Finlandbased elevator and escalator major KONE Corp.
* IDBI BANK: Rakesh Jhunjhunwala's RARE Equity, HDFC LIFE INSURANCE and ICICI Prudential Life Insurance have been short-listed from amongst a list of suitors who have submitted proposals to acquire stake in IDBI Federal Life Insurance.
* INDIA CEMENTS: Ace investor Radhakishan Damani has increased his stake in the company by 0.9%, buying 2.7 mln shares of the company at 104.16 rupees apiece through a bulk deal on National Stock Exchange.
* INTERGLOBE AVIATION: Said on Wednesday it has responded to all queries from Securities and
Exchange Board of India regarding related-party transactions and asserted that they were entered into in the best interests of the company.
* IRB INFRASTRUCTURE DEVELOPERS: Would prepay bank loans after its private infrastructure
investment trust received about 38 bln rupees from Singapore-based GIC, a sovereign fund.
* JET AIRWAYS INDIA: Creditors are seeking court action to save the company from liquidation as a key deadline looms. Lenders to the company plan to request a court to extend a mid-March deadline for creditors to agree on a resolution plan or allow the carrier go into liquidation.
* JINDAL STAINLESS: Has raised 4 bln rupees by issuing non-convertible debentures to Kotak Special Situation Fund.
* MAHANAGAR GAS: Will pay an interim dividend of 9.5 rupees per share.
* PETRONET LNG: Looking to buy the super-chilled fuel through a long term contract starting from 2024.
* POWER FINANCE CORP: Plans to raise at least 5 bln rupees through bonds maturing in 10 years, and has invited bids for the same on Friday.
* REC: Plans to raise at least 5 bln rupees through government-serviced bonds maturing in 10 years, and has invited bids for the same on Friday.
* RITES: The government will sell up to 5% stake or 12.5 mln shares in the company through an offer for sale.
* SADBHAV ENGINEERING: HDFC Standard Life Insurance Co has sold 890,100 shares or 0.52% stake in the company at 80.13 rupees per share in a bulk deal on the National Stock Exchange.
Blue Diamond Properties bought 4.2 mln shares or 2.45% stake in the company at 74.99 rupees per share through a bulk deal on BSE.
* SHRIRAM CITY UNION FINANCE: Intends to raise up to 6 bln rupees through non-convertible
debentures.
* SUN PHARMACEUTICAL INDUSTRIES: Wholly-owned subsidiary has launched Riomet ER oral suspension drug in the US.
* TATA CHEMICALS: Promoter Tata Sons bought 1.5 mln shares or 0.6% stake in the company at 742.44 rupees a share in a bulk deal on the National Stock Exchange.
* THOMAS COOK INDIA: Will buy back up to 26.09 mln shares at 57.50 rupees a share, through a tender offer.
* UNITED SPIRITS: Parent company Diageo PLC expects its organic revenues to slump by 225-325 mln pound sterling (about 20.9 bln-30.1 bln rupees) in the financial year ending Jun 30, owing to the impact of coronavirus, the company told the London Stock Exchange.
* VEDANTA: The Vedanta Group will seriously evaluate acquiring the government's stake in BHARAT PETROLEUM CORP and will bid for commercial coal blocks which will be offered as it will itself need up to 100 mln tn to generate power but its decisions would depend on the valuation of assets, its chairman Anil Agarwal said.
* VODAFONE IDEA: Has called on the government to allow it to pay adjusted gross revenue dues over 15 years. The company has also asked for a tax refund, cut in licence fees and spectrum usage charges and the establishment of a floor for tariffs among measures to help it remain viable.
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