STOCKS NEWS TODAY – 12.09.2016
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* BHARTI AIRTEL: The company said the telecommunication traffic will get to a more balanced level and interconnection points will be "less of an issue" after Reliance Jio Infocomm makes its services commercial from Jan 1.
* BOSCH: Is planning to set up solar plants for its industrial clients besides bidding for more airport and seaport projects.
* BRITANNIA INDUSTRIES: A two-judge bench of the Delhi High Court has refused to lift its order asking the company to stop selling Nutrichoice Digestive Zero biscuits and withdraw the stock from the market in four weeks.
* CAPLIN POINT LABORATORIES: US Food and Drug Administration will conduct an inspection at the company's plant at Gummidipoondi in Tamil Nadu in the third week of October.
* GUJARAT STATE PETRONET: Reported a 7.5% on year rise in Apr-Jun net profit to 1.21 bln rupees, whereas net sales were up 0.85% at 2.57 bln rupees.
* HINDALCO INDUSTRIES: Step-down subsidiary Novelis Corp has priced its senior unsecured notes due 2026 at an annual interest rate of 5.875%.
* ITC: Plans to launch traditional foods popular to a specific region or state.
* JAIPRAKASH POWER VENTURES: Its subsidiary has started commercial operations at the second unit of its 3X660 MW Bara supercritical thermal power plant in Uttar Pradesh's Allahabad district.
* JUBILANT FOODWORKS: The company will turn half of its Domino's Pizza outlets 'all-vegetarian' during the nine-day Navratri festival starting early next month.
* LARSEN & TOUBRO: Completed the stake sale of its subsidiary L&T General Insurance to HDFC ERGO for 5.51 bln rupees.
* MAHINDRA CIE AUTOMOTIVE: The company is likely to acquire Bengaluru-based Bill Forge for around 13 bln rupees.
* MANGALORE REFINERY & PETROCHEMICALS: The company plans to set up around 100
retail outlets in the current financial year as part of its expansion plan.
* HINDUSTAN PETROLEUM CORP, one of the promoters, has asked OIL AND NATURAL GAS CORP to divest part of its stake in the company in order to meet minimum public shareholding norm.
* MARUTI SUZUKI INDIA: The company is set to increase its market share next year to 50% from 47% with the commissioning of the new Gujarat plant.
* NTPC: Opened trading of its green masala bond at the London Stock Exchange as part of its efforts to promote renewable energy projects in the country.
* POWER FINANCE CORP: Has likely set a coupon of 7.47% on its five-year bonds and 7.56% on its ten-year bonds.
* PRICOL: UTI Mutual Fund, via UTI Mid Cap Fund, bought 1.27 mln shares, or 1.34% stake, in the
company at 120 rupees per share, through a bulk deal on the National Stock Exchange.
* REDINGTON INDIA: The distributor for electronics major Apple said it will start offering the new iPhone 7 and iPhone 7 Plus beginning Oct 7.
* RELIANCE INDUSTRIES: Arm Reliance Sibur Elastomers has signed an agreement for availing a term loan facility of $330 mln by way of external commercial borrowing.
* STATE BANK OF INDIA: Chairman Arundhati Bhattacharya has said debt investment norms for
insurance companies and pension funds need to be liberalised so that lower-rated companies can also
access the bond market.
* SUN PHARMACEUTICAL INDUSTRIES: Around 500 employees of the company that were earlier a part of the erstwhile Ranbaxy Laboratories plan a pan-India strike on Sep 26 to protest various issues including non-payment of salaries.
* TATA MOTORS: Along with local partner TMT Motors, launched mini truck Tata SuperAce in Vietnam. The company's global wholesale volume, including those of its UK-based subsidiary Jaguar Land Rover Automotive Plc, rose 16% on year to 86,288 units in August, with strong volume growth in JLR sales.
* TATA POWER: Subsidiary Tata Power International has partnered ICICI Venture to set up Resurgent Power Ventures to facilitate investment in power projects in India in the next two-three years.
* THOMAS COOK INDIA: Has incurred capital expenditure of 900 mln rupees since acquiring Sterling Holiday Resorts in 2014 towards renovating resorts, and is now exploring greenfield properties for the holiday company.
* UNITECH: Faced with consumer complaints over delays in project completion, will raise about 3 bln rupees from financial institutions and sale of land parcels to complete over 40 housing projects
comprising 13,000 flats within the next two years.
* VEDANTA: Shareholders have approved the proposed merger of the company and its oil and gas arm CAIRN INDIA
. * WELSPUN INDIA: In another setback, Walmart has said it will stop selling the company's Egyptian cotton products on alleged lapses in products supply.
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* BHARTI AIRTEL: The company said the telecommunication traffic will get to a more balanced level and interconnection points will be "less of an issue" after Reliance Jio Infocomm makes its services commercial from Jan 1.
* BOSCH: Is planning to set up solar plants for its industrial clients besides bidding for more airport and seaport projects.
* BRITANNIA INDUSTRIES: A two-judge bench of the Delhi High Court has refused to lift its order asking the company to stop selling Nutrichoice Digestive Zero biscuits and withdraw the stock from the market in four weeks.
* CAPLIN POINT LABORATORIES: US Food and Drug Administration will conduct an inspection at the company's plant at Gummidipoondi in Tamil Nadu in the third week of October.
* GUJARAT STATE PETRONET: Reported a 7.5% on year rise in Apr-Jun net profit to 1.21 bln rupees, whereas net sales were up 0.85% at 2.57 bln rupees.
* HINDALCO INDUSTRIES: Step-down subsidiary Novelis Corp has priced its senior unsecured notes due 2026 at an annual interest rate of 5.875%.
* ITC: Plans to launch traditional foods popular to a specific region or state.
* JAIPRAKASH POWER VENTURES: Its subsidiary has started commercial operations at the second unit of its 3X660 MW Bara supercritical thermal power plant in Uttar Pradesh's Allahabad district.
* JUBILANT FOODWORKS: The company will turn half of its Domino's Pizza outlets 'all-vegetarian' during the nine-day Navratri festival starting early next month.
* LARSEN & TOUBRO: Completed the stake sale of its subsidiary L&T General Insurance to HDFC ERGO for 5.51 bln rupees.
* MAHINDRA CIE AUTOMOTIVE: The company is likely to acquire Bengaluru-based Bill Forge for around 13 bln rupees.
* MANGALORE REFINERY & PETROCHEMICALS: The company plans to set up around 100
retail outlets in the current financial year as part of its expansion plan.
* HINDUSTAN PETROLEUM CORP, one of the promoters, has asked OIL AND NATURAL GAS CORP to divest part of its stake in the company in order to meet minimum public shareholding norm.
* MARUTI SUZUKI INDIA: The company is set to increase its market share next year to 50% from 47% with the commissioning of the new Gujarat plant.
* NTPC: Opened trading of its green masala bond at the London Stock Exchange as part of its efforts to promote renewable energy projects in the country.
* POWER FINANCE CORP: Has likely set a coupon of 7.47% on its five-year bonds and 7.56% on its ten-year bonds.
* PRICOL: UTI Mutual Fund, via UTI Mid Cap Fund, bought 1.27 mln shares, or 1.34% stake, in the
company at 120 rupees per share, through a bulk deal on the National Stock Exchange.
* REDINGTON INDIA: The distributor for electronics major Apple said it will start offering the new iPhone 7 and iPhone 7 Plus beginning Oct 7.
* RELIANCE INDUSTRIES: Arm Reliance Sibur Elastomers has signed an agreement for availing a term loan facility of $330 mln by way of external commercial borrowing.
* STATE BANK OF INDIA: Chairman Arundhati Bhattacharya has said debt investment norms for
insurance companies and pension funds need to be liberalised so that lower-rated companies can also
access the bond market.
* SUN PHARMACEUTICAL INDUSTRIES: Around 500 employees of the company that were earlier a part of the erstwhile Ranbaxy Laboratories plan a pan-India strike on Sep 26 to protest various issues including non-payment of salaries.
* TATA MOTORS: Along with local partner TMT Motors, launched mini truck Tata SuperAce in Vietnam. The company's global wholesale volume, including those of its UK-based subsidiary Jaguar Land Rover Automotive Plc, rose 16% on year to 86,288 units in August, with strong volume growth in JLR sales.
* TATA POWER: Subsidiary Tata Power International has partnered ICICI Venture to set up Resurgent Power Ventures to facilitate investment in power projects in India in the next two-three years.
* THOMAS COOK INDIA: Has incurred capital expenditure of 900 mln rupees since acquiring Sterling Holiday Resorts in 2014 towards renovating resorts, and is now exploring greenfield properties for the holiday company.
* UNITECH: Faced with consumer complaints over delays in project completion, will raise about 3 bln rupees from financial institutions and sale of land parcels to complete over 40 housing projects
comprising 13,000 flats within the next two years.
* VEDANTA: Shareholders have approved the proposed merger of the company and its oil and gas arm CAIRN INDIA
. * WELSPUN INDIA: In another setback, Walmart has said it will stop selling the company's Egyptian cotton products on alleged lapses in products supply.
