STOCKS NEWS TODAY – 09.09.2016
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* AMTEK AUTO: Has sought approval of its shareholders to allow banks to convert up to 200 bln rupees of debt into equity.
* BANK OF INDIA: Has allotted 120.7 mln shares at 110.89 rupees a piece to the government on a
preferential basis.
* BHARTI INFRATEL: Said it is focused on identifying opportunities for inorganic growth that are valueaccretive and feasible. It is also was looking at various opportunities to return excess cash to
shareholders.
* CAIRN INDIA: Life Insurance Corp of India, which holds 9.06% stake in the company, will vote in favour of the proposed merger of the company into VEDANTA, sources said.
* CENTRAL BANK OF INDIA: Has allotted 123.8 mln shares at 104.76 rupees a piece to the government on a preferential basis.
* CROMPTON GREAVES CONSUMER ELECTRICALS: The Reserve Bank of India has notified that foreign portfolio investors can now invest up to 100% of the paid-up capital in the company.
* IDBI BANK: Asian Development Bank is in talks with the government to acquire stake in the bank.
* JINDAL STEEL & POWER: Reported a consolidated net loss of 10.8 bln rupees in Apr-Jun, as against a loss of 5.4 bln rupees a year ago. Total income was up 5.7% on year at 46.5 bln rupees.
* PFIZER: Has moved the Delhi High Court in a bid to block Indian drug makers, including SUN
PHARMACEUTICAL INDUSTRIES and CADILA HEALTHCARE, from developing and marketing a copy of its rheumatoid arthritis tablet Xeljanz.
* POWER FINANCE CORP: Plans to raise funds through the issuance of bonds maturing in five and 10 years, for which it has sought bids from merchant bankers, sources said.
* RELIANCE COMMUNICATIONS: Brookfield is closing in to buy majority stake in the company's tower business, sources said.
* ROHIT FERRO-TECH: Is set to consider on Tuesday executing a deed of undertaking in favour of
STATE BANK OF INDIA for sale of its manufacturing unit at Bishnupur and Haldia.
* STEEL AUTHORITY OF INDIA: Reported net loss of 5.35 bln rupees in Apr-Jun, as against a loss of 2.48 bln rupees a year ago. Net sales fell 3.1% on year to 90.82 bln rupees.
* YES BANK: Has deferred its $1-bln share issue to qualified institutional investors citing market volatility and regulatory hurdles.
* ZENSAR TECHNOLOGIES: Has received a two-year digital transformation contract from Avis Fleet in South Africa.
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* AMTEK AUTO: Has sought approval of its shareholders to allow banks to convert up to 200 bln rupees of debt into equity.
* BANK OF INDIA: Has allotted 120.7 mln shares at 110.89 rupees a piece to the government on a
preferential basis.
* BHARTI INFRATEL: Said it is focused on identifying opportunities for inorganic growth that are valueaccretive and feasible. It is also was looking at various opportunities to return excess cash to
shareholders.
* CAIRN INDIA: Life Insurance Corp of India, which holds 9.06% stake in the company, will vote in favour of the proposed merger of the company into VEDANTA, sources said.
* CENTRAL BANK OF INDIA: Has allotted 123.8 mln shares at 104.76 rupees a piece to the government on a preferential basis.
* CROMPTON GREAVES CONSUMER ELECTRICALS: The Reserve Bank of India has notified that foreign portfolio investors can now invest up to 100% of the paid-up capital in the company.
* IDBI BANK: Asian Development Bank is in talks with the government to acquire stake in the bank.
* JINDAL STEEL & POWER: Reported a consolidated net loss of 10.8 bln rupees in Apr-Jun, as against a loss of 5.4 bln rupees a year ago. Total income was up 5.7% on year at 46.5 bln rupees.
* PFIZER: Has moved the Delhi High Court in a bid to block Indian drug makers, including SUN
PHARMACEUTICAL INDUSTRIES and CADILA HEALTHCARE, from developing and marketing a copy of its rheumatoid arthritis tablet Xeljanz.
* POWER FINANCE CORP: Plans to raise funds through the issuance of bonds maturing in five and 10 years, for which it has sought bids from merchant bankers, sources said.
* RELIANCE COMMUNICATIONS: Brookfield is closing in to buy majority stake in the company's tower business, sources said.
* ROHIT FERRO-TECH: Is set to consider on Tuesday executing a deed of undertaking in favour of
STATE BANK OF INDIA for sale of its manufacturing unit at Bishnupur and Haldia.
* STEEL AUTHORITY OF INDIA: Reported net loss of 5.35 bln rupees in Apr-Jun, as against a loss of 2.48 bln rupees a year ago. Net sales fell 3.1% on year to 90.82 bln rupees.
* YES BANK: Has deferred its $1-bln share issue to qualified institutional investors citing market volatility and regulatory hurdles.
* ZENSAR TECHNOLOGIES: Has received a two-year digital transformation contract from Avis Fleet in South Africa.
