STOCKS NEWS TODAY– 01.09.2016
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* ACC: The Competition Commission of India has slapped a penalty of 11.47 bln rupees on the company for cartelisation.
* AMBUJA CEMENTS: The Competition Commission of India has slapped a penalty of 11.63 bln rupees on the company for cartelisation.
* ARVIND LTD: The company has met with merchant banks ahead of its plans to raise 9 bln rupees by divesting about 15% stake in the fully owned subsidiary Arvind Lifestyle Brands.
* BHARTI AIRTEL: Has deployed technology known as "carrier aggregation" in Mumbai and Kerala to combine different bands of spectrum and create larger blocks of airwaves to offer faster and more stable 4G data services for mobile users.
* BHARAT HEAVY ELECTRICALS: Indian Ratings and Research downgraded the company's long term issuer rating to 'AA+' from 'AAA', as the company's revenues declined by 47% over 2013-2016 (Apr-Mar) because of low order intake.
* BHARAT PETROLEUM CORP: Reported Apr-Jun net profit at 26.2 bln rupees, up 11.0% on year and net sales at 569.7 bln rupees, down 3.1% on year.
* C&C CONSTRUCTIONS: Has secured a contract worth 736.1 mln rupees from Power Grid Corp of India for the latter's Mohindergarh-Bhiwani transmission line.
* CORPORATION BANK: Has reduced its three-month and one-year marginal cost of funds-based lending rates for September by 5 basis points.
* CREDIT ANALYSIS AND RESEARCH: Has signed a memorandum of understanding with Vishal Group and Emerging Nepal to start a credit rating agency in Nepal, which would be called CARE Ratings (Nepal).
* CROMPTON GREAVES: Has received shareholders' approval for the sale of its overseas transmission and distribution business.
* GLAXOSMITHKLINE PHARMACEUTICALS: Is looking to sell its land parcel in Thane but has not yet shortlisted any buyer for the same.
* HERO MOTOCORP: Is set to roll out 15 new two-wheeler models over the next seven months as the company expects a robust growth in demand in the domestic market.
* HINDUSTAN UNILEVER: Has pruned its reporting layers to make divisional heads report directly to their respective global function heads at parent Unilever's London headquarters.
* INDIA CEMENTS: The Competition Commission of India has slapped a penalty of 1.87 bln rupees on the company for cartelisation.
* INDIAN OVERSEAS BANK: Bank Board Bureau Chairman Vinod Rai said that the government is expected to announce the appointment of managing director and chief executive officer for the lender by Friday.
* INFOSYS: Saw worth of new contracts in the past four quarters jump 53.7% to $2.9 bln, driven
primarily by deals in cloud and infrastructure services that it won from larger global peers.
* JAIPRAKASH ASSOCIATES: The Competition Commission of India has slapped a penalty of 13.23 bln rupees on the company for cartelisation.
* JK CEMENT: The Competition Commission of India has slapped a penalty of 1.28 bln rupees on the company for cartelisation.
* KEC INTERNATIONAL: Has secured orders worth 12.24 bln rupees in domestic and overseas markets.
* KOTAK MAHINDRA BANK: Plans to wrest market share by growing its corporate loan book at an annual rate of 20% by offering integrated services, including investment banking, foreign exchange and consultancy.
* MOIL: Is set to enhance production of manganese ore up to 2.5 mln tn by 2020-21.
* MPHASIS: Blackstone Group's move to buy 26% additional stake in the company through an open offer of shares did not find favour, with shareholders tendering only 0.001% stake.
* ORIENTAL BANK OF COMMERCE: Plans to raise at least 2.5 bln rupees through the issuance of BaselIII-compliant tier-I bonds.
* PRAJ INDUSTRIES: Has closed down its subsidiary Praj Sur America S.R.L based in Argentina.
* RELIANCE INDUSTRIES: Will have to return to the government the gains it received "unjustly" by selling gas that had migrated to its KG-D6 block in the Bay of Bengal from its neighbouring blocks, a government appointed panel said.
* SHREE CEMENT: The Competition Commission of India has slapped a penalty of penalty of 3.97 bln rupees for cartelisation.
* SPICEJET: A division bench of the Delhi High Court heard arguments on behalf of Ajay Singh,
managing director against a single judge order directing the airline to deposit 5.79 bln rupees with the
registrar of the court.
* STEEL AUTHORITY OF INDIA: Has got environmental clearances for modernisation and expansion of its Rourkela steel plant in Odisha.
* TATA POWER CO: Has signed a letter of intent with US-based Javelin Joint Venture for co-development and production of the Javelin anti-armour missile system.
* TATA STEEL: Several thousand steel workers at Thyssenkrupp have protested management's plans for a merger of its European steel business with that of Tata Steel as well as possible site closures.
* THERMAX: Has acquired a controlling stake in First Energy, raising its share to 54.67% from 33% held earlier.
* ULTRATECH CEMENT: The Competition Commission of India has slapped a penalty of 7 bln rupees for cartelisation.
* UNIPLY INDUSTRIES: Announced the acquisition of 100% equity in Vector Projects for a consideration of 641.2 mln rupees in a cash and share deal.
* ZEE ENTERTAINMENT ENTERPRISES: Is no longer interested in acquiring the broadcasting business of Anil Ambani-owned Reliance Broadcast Networks.
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* ACC: The Competition Commission of India has slapped a penalty of 11.47 bln rupees on the company for cartelisation.
* AMBUJA CEMENTS: The Competition Commission of India has slapped a penalty of 11.63 bln rupees on the company for cartelisation.
* ARVIND LTD: The company has met with merchant banks ahead of its plans to raise 9 bln rupees by divesting about 15% stake in the fully owned subsidiary Arvind Lifestyle Brands.
* BHARTI AIRTEL: Has deployed technology known as "carrier aggregation" in Mumbai and Kerala to combine different bands of spectrum and create larger blocks of airwaves to offer faster and more stable 4G data services for mobile users.
* BHARAT HEAVY ELECTRICALS: Indian Ratings and Research downgraded the company's long term issuer rating to 'AA+' from 'AAA', as the company's revenues declined by 47% over 2013-2016 (Apr-Mar) because of low order intake.
* BHARAT PETROLEUM CORP: Reported Apr-Jun net profit at 26.2 bln rupees, up 11.0% on year and net sales at 569.7 bln rupees, down 3.1% on year.
* C&C CONSTRUCTIONS: Has secured a contract worth 736.1 mln rupees from Power Grid Corp of India for the latter's Mohindergarh-Bhiwani transmission line.
* CORPORATION BANK: Has reduced its three-month and one-year marginal cost of funds-based lending rates for September by 5 basis points.
* CREDIT ANALYSIS AND RESEARCH: Has signed a memorandum of understanding with Vishal Group and Emerging Nepal to start a credit rating agency in Nepal, which would be called CARE Ratings (Nepal).
* CROMPTON GREAVES: Has received shareholders' approval for the sale of its overseas transmission and distribution business.
* GLAXOSMITHKLINE PHARMACEUTICALS: Is looking to sell its land parcel in Thane but has not yet shortlisted any buyer for the same.
* HERO MOTOCORP: Is set to roll out 15 new two-wheeler models over the next seven months as the company expects a robust growth in demand in the domestic market.
* HINDUSTAN UNILEVER: Has pruned its reporting layers to make divisional heads report directly to their respective global function heads at parent Unilever's London headquarters.
* INDIA CEMENTS: The Competition Commission of India has slapped a penalty of 1.87 bln rupees on the company for cartelisation.
* INDIAN OVERSEAS BANK: Bank Board Bureau Chairman Vinod Rai said that the government is expected to announce the appointment of managing director and chief executive officer for the lender by Friday.
* INFOSYS: Saw worth of new contracts in the past four quarters jump 53.7% to $2.9 bln, driven
primarily by deals in cloud and infrastructure services that it won from larger global peers.
* JAIPRAKASH ASSOCIATES: The Competition Commission of India has slapped a penalty of 13.23 bln rupees on the company for cartelisation.
* JK CEMENT: The Competition Commission of India has slapped a penalty of 1.28 bln rupees on the company for cartelisation.
* KEC INTERNATIONAL: Has secured orders worth 12.24 bln rupees in domestic and overseas markets.
* KOTAK MAHINDRA BANK: Plans to wrest market share by growing its corporate loan book at an annual rate of 20% by offering integrated services, including investment banking, foreign exchange and consultancy.
* MOIL: Is set to enhance production of manganese ore up to 2.5 mln tn by 2020-21.
* MPHASIS: Blackstone Group's move to buy 26% additional stake in the company through an open offer of shares did not find favour, with shareholders tendering only 0.001% stake.
* ORIENTAL BANK OF COMMERCE: Plans to raise at least 2.5 bln rupees through the issuance of BaselIII-compliant tier-I bonds.
* PRAJ INDUSTRIES: Has closed down its subsidiary Praj Sur America S.R.L based in Argentina.
* RELIANCE INDUSTRIES: Will have to return to the government the gains it received "unjustly" by selling gas that had migrated to its KG-D6 block in the Bay of Bengal from its neighbouring blocks, a government appointed panel said.
* SHREE CEMENT: The Competition Commission of India has slapped a penalty of penalty of 3.97 bln rupees for cartelisation.
* SPICEJET: A division bench of the Delhi High Court heard arguments on behalf of Ajay Singh,
managing director against a single judge order directing the airline to deposit 5.79 bln rupees with the
registrar of the court.
* STEEL AUTHORITY OF INDIA: Has got environmental clearances for modernisation and expansion of its Rourkela steel plant in Odisha.
* TATA POWER CO: Has signed a letter of intent with US-based Javelin Joint Venture for co-development and production of the Javelin anti-armour missile system.
* TATA STEEL: Several thousand steel workers at Thyssenkrupp have protested management's plans for a merger of its European steel business with that of Tata Steel as well as possible site closures.
* THERMAX: Has acquired a controlling stake in First Energy, raising its share to 54.67% from 33% held earlier.
* ULTRATECH CEMENT: The Competition Commission of India has slapped a penalty of 7 bln rupees for cartelisation.
* UNIPLY INDUSTRIES: Announced the acquisition of 100% equity in Vector Projects for a consideration of 641.2 mln rupees in a cash and share deal.
* ZEE ENTERTAINMENT ENTERPRISES: Is no longer interested in acquiring the broadcasting business of Anil Ambani-owned Reliance Broadcast Networks.
