Here are stocks that are in the news today:
Himachal Futuristic Communications: Company has received two contracts totalling Rs 148 crore from L&T to execute the telecommunication systems projects for the Mauritius Metro Express Project and for the Dhaka Metro Mass Rapid Transit System.
Fortis Healthcare: The market regulator has ordered Singh brothers and others to repay Rs 403 crore with interest within 3 months.
Unichem Laboratories: Company has received ANDA approval from USFDA for Pramipexole Dihydrochloride tablets, which are indicated for the treatment of Parkinson’s disease.
Piramal Enterprises: ICRA enhanced its credit rating AA (Stable) limit from Rs 11,100 crore to Rs 14,100 crore for non-convertible debentures instruments.
Adani Enterprises: Company incorporated a wholly owned subsidiary (WOS) namely, Adani Water Limited.
Strides Pharma Science: India Life Sciences Fund III advised by ICP-III Investment Advisors has partnered with Strides and the said transaction has achieved closure on December 20, 2018.
Hinduja Global Solutions: HGS AxisPoint Health LLC, USA, a step-down subsidiary of the company has entered into definitive agreements for sale of several US Nurse Advice Line service contracts to Infomedia Group, Inc, USA, (doing business as ‘Carenet Healthcare Services’).
Taneja Aerospace & Aviation: V Vijay has resigned from the post of Chief Financial Officer of the company.
Tata Sponge Iron: ICRA downgraded the long-term ratings assigned to the fund based bank limits, and re-affirmed the short-term rating assigned to the non-fund based bank facilities of the company.
Petronet LNG: At the request of IOCL, BPCL, GAIL and GSPC, the sale and purchase agreement with RasGas of Qatar (LNG Supplier) for supply of an additional 1 MMTPA of LNG for onward sale to these companies has been re-structured by having direct arrangement between the LNG supplier and the Indian entities w.e.f. January 2019 wherein Petronet will now continue to provide the storage, receiving and regasification services for the above-mentioned contract but will not be the buyer of LNG.
Escorts: Joint venture company Optunia Power Infrastructure Private Limited has presently been funded by a joint contribution of Rs 60 crore to the equity share capital of the JVC by both the JV Partners i.e. Tadano Limited, Japan and Escorts Limited in the ratio of 51 percent and 49 percent respectively. The JVC shall manufacture rough terrain cranes and truck mounted cranes.
State Trading Corporation of India: Rooma Nagrath is appointed as Chief Financial Officer of the company.
IL&FS Engineering and Construction Company: Rail Vikas Nigam Limited terminated the contract with the company for construction of seven stations including related works from Sub – CBD-1 to Titumir in New Garia- Airport Metro Corridor of Kolkata Metro Railway.
Power Grid Corporation of India and REC: Power Grid acquired Jawaharpur Firozabad Transmission Limited (JFTL), the project SPV to establish transmission system for evacuation of power from 2 x 660 MW Jawaharpur Thermal Power Project and construction of 400 kV substation at Firozabad along with associated Transmission Lines, on build, own, operate and maintain (BOOM) basis from REC Transmission Projects Company Limited.
GE Power India: Consortium of GE Power India Limited, GE Hydro France, GE Renewable Malaysia Sdn. Bhd. and Sinohydro Corporation (M) Sdn Bhd has been awarded the order for the Main Electrical and Mechanical Works for the 1285MW Baleh Hydroelectric Project in Sarawak, Malaysia by SEB Power Sdn. Bhd, for a total value of approximately MYR 595 million and $159 million. The value of the order for the company is approximately $98.4 million exclusive of taxes (i.e. approximately Rs 689 crore).
Lumax Auto Technologies: Company considered and approved a Scheme of Merger between the company and Lumax DK Auto Industries Limited (LDK), its wholly-owned subsidiary.
Coffee Day Enterprises: Company has incorporated a wholly-owned subsidiary, Coffee Day Kabini Resorts Limited.
Essel Propack: Company has paid interest to non-convertible debenture (NCD) issued by the company amount to Rs 50 crore.
Axis Bank: Rajiv Anand, Executive Director – Retail Banking, has taken over as the Executive Director – Wholesale Banking of the bank.
Avenue Supermarts: Company has issued commercial paper of Rs 50 crore.
InterGlobe Aviation: Company has signed a codeshare and mutual cooperation agreement with Turkish Airlines.
SBI: The bank approved the allotment of subordinated, unsecured Basel III compliant additional Tier I Bonds worth Rs 2,045 crore.
Gammon India: The Bombay High Court has disposed off a winding-up order filed by SBI against the company.
Amtek Auto: Sebi imposes Rs 15 lakh fine for failing to meet bond redemption deadline.
Inox Leisure: Company has commenced the commercial operations of a Multiplex Cinema Theatre taken on a Lease basis, in Kolkata. Inox is now present in 67 cities with 134 Multiplexes, 546 screens and a total seating capacity of 1,31,310 seats across India.
Info Edge: Company has invested, through its wholly-owned subsidiary, about Rs 28 crore in Nopaperforms Solutions Pvt. Ltd. The aggregate shareholding of the company, post this investment, in the said entity would be 48.1 percent on a fully converted & diluted basis.
Hatsun Agro Product: CRISIL has upgraded long-term loan rating from A/Stable to A+/Stable and reaffirmed short-term loan rating as A1 for the bank loan facilities of Rs 1,180 crore.
PVR: Board approved the issue of equity shares to qualified institutional placement for an aggregate amount not exceeding Rs 750 crore.
Balaji Amines: India Ratings & Research Private Limited has upgraded the company’s Long-Term issuer Rating to`AA-‘from`A+’.The outlook is stable.
Rajath Finance: Board approved the proposal for sale of the office premises of the company, situated at 208-2015, Star Plaza, Phulchhab Chowk, Rajkot.
FCS Software Solutions: Company has increased its stake in four subsidiaries up to 100 percent to make them its wholly owned subsidiaries.
Vardhman Industries: Board fixed January 3, 2019, as the record date to suspend trading of the equity shares of the company to later delist the company in accordance with the resolution plan.
Hinduja Ventures: Investment Committee of the company accorded its approval to make an aggregate investment of Rs 3.5 crore by subscribing to 2,29,209 equity shares of HLFL offered to the company on rights basis at a price of Rs 153 per share.
Bulk Deals on December 21
AU Small Finance Bank: The Vanguard Group Inc A/C Vanguard Emerging Markets Stock Index bought 15,69,292 shares of the company at Rs 637.08 per share.
Fiem Industries: Morgan Stanley France SAS purchased 1,08,022 shares of the company at Rs 560 per share while Blackrock India Equities (Mauritius) sold 1,31,471 shares at Rs 560.05 per share.
GSS Infotech: Profin Commodities Private Limited bought 1,00,000 shares of the company at Rs 134.22 per share.
VA Tech Wabag: Norges Bank on Account of the Government Pension Fund Global purchased 9,00,000 shares of the company at Rs 270.1 per share while Goldman Sachs India Fund sold 8,67,665 shares at Rs 270.1 per share.
HealthCare Global Enterprises: The Pabrai Investment Fund II LP sold 9,23,000 shares of the company at Rs 198.05 per share and The Pabrai Investment Fund IV LP sold 12,08,400 shares at Rs 198.05 per share while Sundaram BNP Paribas Mutual Fund bought 10,91,191 shares at Rs 198.05 per share.
Arshiya Limited: MSD India Fund sold 26,91,369 shares of the company at Rs 21.36 per share.
Analyst or Board Meet/Briefings
Hinduja Global Solutions: Company has arranged a Conference call on December 26 to discuss the sale of Nurse Advice Line service contracts of HGS AxisPoint Health LLC, USA to Infomedia Group Inc, USA / Carenet Health Services.
Meera Industries: Extra-ordinary general meeting to be held on January 16, 2019.
Selan Exploration Technology: Board meeting is being convened on December 27 to consider interim Dividend for the financial year 2018-19 and buyback of the equity shares of the company.
HBL Power Systems: Board meeting is scheduled on February 11 to consider the unaudited financial results(standalone) for the quarter ending on December 31, 2018.
Piramal Enterprises: Board meeting will be held on December 27 to consider the issue or secured non-convertible debentures on private placement basis.
IIFL Holdings: Company’s officials will be meeting Creador India on December 26 and Fidelity Management & Research Company on January 4, 2019.
Mahindra Logistics: Company’s officials will be meeting Nikko Asset Management and Reliance Life Insurance on December 24, and Elara Capital on January 4, 2019.
Mphasis: Board meeting is being scheduled on January 24 to consider the audited financial results of Mphasis Limited and the Group for the quarter ending December 2018.
Colgate-Palmolive (India): Board meeting will be held on January 24 to consider the unaudited financial results of the company for the quarter ending December 2018.
Greaves Cotton: Company’s officials will be meeting Renaissance Investment Managers and UBS Securities India Pvt Ltd on December 26.
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