Daily Stock News Today – 16.01.2018

Daily Stock News Today – 16.01.2018

CLICK HERE




* 3I INFOTECH: Has allotted 263.9 mln equity shares to Srei Multiple Asset Investment Trust under debt realignment scheme package.

* APOLLO PIPES: Canara HSBC Oriental Bank of Commerce Life Insurance Co bought 100,000 shares or 2% stake in the company at 680 rupees a share in a bulk deal on BSE.

* BAJAJ FINANCE: Due to a lower conversion price of the compulsorily cumulative preference shares of One MobiKwik Systems, the company will now hold 12.6% stake in the digital financial services company, post the conversion, the non-banking finance said.

* BANK OF INDIA: Has deferred the 30 bln rupees capital raising plan after the government's move to infuse 22.57 bln rupees capital into it.

* BL KASHYAP & SONS: Has received an approval from Standard Chartered Bank for a one-time debt settlement proposal.

* BSE: The board has approved the buyback of 1.51 mln shares at a price not exceeding 1,100 rupees apiece, for total consideration of up to 1.66 bln rupees.

* CHOICE INTERNATIONAL: Arm Choice Finserv has received a certificate of registration from the RBI to carry out business as a non-deposit taking non-banking finance company.

* COAL INDIA: The company's new pricing policy, which involves selling coal on the basis of total energy content in each consignment, is expected to bring down cost of power generation.

* HOUSING DEVELOPMENT & INFRASTRUCTURE: State of Minnesota has sold 2.7 mln shares or 0.6% stake in the company at 66.62 rupees per share in a bulk deal on the National Stock Exchange.

* IMP POWERS: Has entered into a 20-year licence agreement with German company Smart Hydro Power GmbH, securing exclusive rights to manufacture turbines and exhibit Smart free Stream and Smart Monofloat under its own brand name in India, Laos, Nepal, Bhutan, Sri Lanka, and Eastern Africa.

* INDIAN OIL CORP: Signed an initial pact with Israel's Phinergy to develop ultra lightweight metal-air batteries that can be used in electric vehicles.

* JM FINANCIAL: Has started work on its qualified institutional placement offering that could see the company raise as much as $100 mln.

* JSW STEEL: JSW Group and two other companies will acquire Brahmani River Pellets after TATA STEEL's deal to buy the pellet maker collapsed in October. Is looking at the possibility of starting project activity in the next fiscal on its 12 mln tn mega steel plant proposed near Paradip in Odisha.

* JUBILANT LIFE SCIENCES: Has received environmental learance from the Ministry of Environment, Forests and Climate change to set up a pesticide project in the Special Economic Zone of the company at Bharuch, Gujarat.

* LARSEN & TOUBRO: Blackstone Group is in advanced talks to acquire two commercial properties of L&T Realty, totalling 1.7 mln sq ft, in a deal valued at 23 bln rupees.

* MAX VENTURES AND INDUSTRIES: Board has approved raising up to 4.5 bln rupees through a rights issue.

* MERCK: Life Insurance Corp has sold a little over 2% stake in the company through an open market transaction.

* NTPC: Has flagged fuel shortage at a number of its plants.

* PVR: The group has moved the Allahabad High Court, and its Lucknow bench, over the issue of subsuming entertainment tax into the goods and services tax.

* RATTANINDIA POWER: The joint lenders forum has submitted a scheme for sustainable structuring of stressed assets to the overseeing committee constituted by the Reserve Bank of India.

* SPECIALITY RESTAURANTS: Has opened a 'Mainland China' franchise restaurant at Colombo in Sri Lanka.

* SREI INFRASTRUCTURE FINANCE: The board has approved raising up to 750 bln rupees through public and private issue of non-convertible debentures in one or more tranches as well as the issuance of commercial papers, in 2018-19 (Apr-Mar).

* STATE BANK OF INDIA: Has tied up with Transfast Remittance LLC for remittances from the US to India.

* TATA MOTORS: Has launched Tiago easy-shift automated manual transmission in Bangladesh priced at 1.5 mln Taka (approximately 1.1 mln rupees), ex-showroom Dhaka.

* TECH MAHINDRA: Has entered into a multi-year agreement with IBM to migrate its clients' workloads to IBM POWER9 multiprocessors.

* TRC FINANCIAL SERVICES: Jupiter Capital acquired 2.9 mln shares, or 57.91% stake, in TRC Financial Services on Friday.

* VASCON ENGINEERS: Has sold 68 units or 85% of the units in their project 'Forest Edge' on the day of its launch.

* ZEE ENTERTAINMENT ENTERPRISE: Zee Music Co, part of the company, has signed an agreement with Amazon Prime Music to provide music content for the US-based online retailer.