Daily Stock News Today – 11.01.2018

Daily Stock News Today – 11.01.2018

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* ALKEM LABORATORIES: Has received an establishment inspection report from US Food and Drug Administration based on the successful inspection closure at the Baddi facility.

* ALOK INDUSTRIES: The National Company Law Tribunal has granted an extension of 90 days for the company's corporate insolvency resolution process. The resolution professional for the company has stipulated that those interested in acquiring the textile company will not be permitted to delist the stock from the stock exchange for five years after the acquisition of the company.

* ARIHANT SUPERSTRUCTURES: Arm Arihant Vatika Realty has received plan approval and commencement certificate for Arihant Anaika Phase II from Panvel Municipal Corporation.

* BANK OF BARODA: Is seeking to sell unit Nainital Bank as it sheds non-core assets to bolster its balance sheet.

* BHARAT PETROLEUM CORP: Plans to raise at least 3 bln rupees through the issuance of bonds maturing in five years and has sought bids from 1100 IST to 1130 IST on Jan 11. K Sivakumar has resigned from the position of Director (Finance) at the company in just about seven months into his term.

* BIOCON: The company and Mylan told the Delhi High Court that Swiss pharmaceutical major Roche's civil suit, challenging the Drug Controller General of India's approvals granted to them for marketing and selling their version of breast cancer medicine Trastuzumab, was not maintainable.

* CANARA BANK: Has not accepted any bids received from merchant bankers empanelled for the 4% stake sale in CAN FIN HOMES and the offer for sale still stands, the lender said.

* CAN FIN HOMES: Has tied up with Canara HSBC Oriental Bank of Commerce Life Insurance Company, to act as a corporate agent for the insurance business, the former said in a letter to the exchanges.

* COAL INDIA: Will adopt a new billing mechanism for consumers in 2018-19 (Apr-Mar), in line with global practices.

* CORAL INDIA FINANCE & HOUSING: Asit Surendra Thakkar sold 480,000 shares or 0.96% stake in the company at 46 rupees per share through a bulk deal on the National Stock Exchange.

* DENA BANK: In response to media reports of a fraud case in the Malabar Hill branch of the bank, the lender clarified that it has no details yet of the property attached.

* DREDGING CORP OF INDIA: The government may shelve its plan to sell the company to private players, after the shipping ministry made a case against privatisation of the company.

* GE POWER INDIA: Has secured an order worth 8.18 bln rupees from Navayuga Engineering Co to design, engineer, manufacture, supply, erect, test and commission 12 turbine generators of 80 MW capacity each.

* GMR INFRASTRUCTURE: Is looking to raise between 40 bln and 50 bln rupees through the listing of its airport holding entity to pare debt and mobilise expansion funds amid increasing global interest in local assets after the first sovereign rating upgrade by Moody's in 13 years.

* HDFC BANK: Expects an uptick in gross domestic product growth in 2018-19 (Apr-Mar) to 7.3% from the 6.5% estimated for this year, expecting a rural push by government and rise in consumption.

* INFOSYS: May induct new members onto its board of directors in the coming fiscal in a move aimed at building a robust succession plan, according to three people aware of the company's strategy.

* KITEX GARMENTS: Plans to invest 4.93 bln rupees for a ready-made garments unit in Hassan, Karnataka.

* MANAKSIA ALUMINIUM CO: Is planning a capital expenditure of 400 mln rupees for 15-20% capacity addition over the next one year.

* MARUTI SUZUKI INDIA: Has hiked the prices of its vehicles by 1,700-17,000 rupees with effect from Wednesday due to an "increase in commodity and other administrative and distribution costs.

* NMDC: The offer for sale to offload 2.52% stake in the company was subscribed 1.9 times, while the retail portion of the sale was subscribed 5.4 times.

* REGENT ENTERPRISES: Will set up facilities for packaging of edible oil along with a storage tank for storing bulk edible oil within a private freight terminal at Modinagar in Uttar Pradesh.

* RELIANCE HOME FINANCE: Has raised 300 mln rupees through the issuance of bonds maturing in five years at a coupon of 8.60%.

* SNOWMAN LOGISTICS: Norwest Venture Partners sold 890,000 shares or 0.5% stake in the company through a bulk deal on the National Stock Exchange.

* SOM DISTILLERIES & BREWERIES: EQ India Fund bought 500,000 shares or 1.8% stake in the company through bulk deals on the National Stock Exchange.

* STATE BANK OF INDIA: Expects financial bidding process for resolution of 12 big stressed accounts to be over by the end of this month.

* TATA CHEMICALS: Has received approval from majority shareholders for sale of its Haldia fertiliser unit in West Bengal to Netherlands-based Indorama Holdings BV for 3.75 bln rupees.

* TATA TELE MAHARASHTRA: The company had 6.9 mln subscribers as on Dec 31, collectively in the Mumbai and Maharashtra circle.

* WELSPUN ENTERPRISES: The company's subsidiary, Dewas Waterprojects Works, and Madhya Pradesh State Industrial Development Corp entered into a concession agreement on Tuesday to restructure the Dewas Industrial Water Supply Project.

* WELSPUN INDIA: Promoter group company MGN Agro Properties sold 4.78% stake, or 48.10 mln shares, at 72.71 rupees per share through a bulk deal on the National Stock Exchange.