STOCKS NEWS TODAY – 19.09.2016
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* AXIS BANK: Has signed a share purchase agreement with IFCI to acquire 7.3 mln shares of Assets
Care and Reconstruction Enterprise for 227.2 mln rupees.
* BALKRISHNA INDUSTRIES: Vanguard Funds sold 489,151 shares, or 0.51% stake, in the company at 828.49 rupees per share.
* BHARTI AIRTEL: Has said it has rolled over 20,000 units of Aadhaar based e-KYC solution across India, and plans to have the facility deployed in over 50,000 retail outlets, including the rural pockets, in the coming months.
* BRIGADE ENTERPRISES: Subsidiary Mysore Projects has entered into a joint development agreement with Cornerstone Bay East Developers to develop 47 acres of land in Bengaluru, Karnataka.
* DEWAN HOUSING FINANCE CORP: MV SCIF Mauritius sold 1.71 mln shares, or 0.59% stake, in the company at 284.2 rupees per share.
* FIEM INDUSTRIES: Has raised 1.2 bln rupees form domestic as well as overseas investors, through a qualified institutional placement.
* HERITAGE FOODS: Future Group is in advanced talks to acquire the retail business of the company.
* IDBI BANK: The bank is aiming to raise 60 bln rupees and has invited interest from merchant bankers to manage its share sale.
* INDIABULLS HOUSING FINANCE: The public issue of non-convertible debentures worth up to 70 bln rupees closed on day two after being subscribed over two times.
* ITC: The company is aiming at becoming the number one player in the foods business in the next
couple of years.
* LUPIN: The company is looking at buyout opportunities in India to gain market share.
* MAX INDIA: A private equity fund managed by Goldman Sachs is looking to sell its 15% stake in Max Financial Services in a 24-bln-rupee deal.
* MOTHERSON SUMI SYSTEMS: Has raised 19.93 bln rupees by issuing 62.88 mln shares to qualified institutional buyers at 317 rupees per share.
* OIL AND NATURAL GAS CORP: The state-owned oil company's overseas arm ONGC Videsh Ltd is seeking $537 mln worth of crude oil instead of cash due for its share of sales from a Venezuelan oilfield.
* POWER GRID CORP OF INDIA: The board has approved investment of 5.62 bln rupees to strengthen transmission systems in the southern region. The company's shareholders have given consent to raising 140 bln rupees through the issuance of bonds under private placement during 2017-18 (Apr-Mar).
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm has filed the highest earnest money deposit of 65 bln rupees, almost the same as the combined deposits of top-three telecom companies, for the upcoming spectrum auctions. State-owned telecom firm BSNL has said it has provided "sufficient points of interconnect" to Reliance Jio Infocomm and can augment it further, based on requirement.
* RELIANCE INFRASTRUCTURE: A Nordic region-based fund house bought 1.71 mln shares, or 0.65% stake, of the company at 598.54 rupees per share.
* SCOOTERS INDIA: The heavy industries ministry is likely to seek Cabinet approval for "strategic
disinvestment" of the company, a top official said.
* SOUTH INDIAN BANK: Foreign portfolio investors will need prior approval from the Reserve Bank of India to invest in the bank.
* TRENT: Tata Sons will hike its stake in the company to 27.74% by acquiring 1.17% shareholding as part of restructuring of its investment portfolio.
* TRIDENT: Promoter Trident Group has bought 900,000 shares of the company, representing 0.18%
stake, from Satyam Home Furnishings at 53 rupees a piece through a block deal on the National Stock Exchange.
* UJJIVAN FINANCIAL SERVICES: International Finance Corp is planning to invest up to $40 mln in the company in the form of senior debt.
* UNITED BREWERIES: YES BANK sold 1.85 mln shares, or 0.70% stake in the company, to promoter Heineken International BV at 819.50 rupees per share.
* WESTLIFE DEVELOPMENT: The company's subsidiary Hardcastle Restaurants plans to invest 7.5 bln rupees over five-seven years to double the outlets of food chain McDonald's.
* WOCKHARDT: Said it had no update to offer on issues related to an import alert issued in 2013 by US Food and Drug Administration against its Chikalthana unit in Maharashtra.
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* AXIS BANK: Has signed a share purchase agreement with IFCI to acquire 7.3 mln shares of Assets
Care and Reconstruction Enterprise for 227.2 mln rupees.
* BALKRISHNA INDUSTRIES: Vanguard Funds sold 489,151 shares, or 0.51% stake, in the company at 828.49 rupees per share.
* BHARTI AIRTEL: Has said it has rolled over 20,000 units of Aadhaar based e-KYC solution across India, and plans to have the facility deployed in over 50,000 retail outlets, including the rural pockets, in the coming months.
* BRIGADE ENTERPRISES: Subsidiary Mysore Projects has entered into a joint development agreement with Cornerstone Bay East Developers to develop 47 acres of land in Bengaluru, Karnataka.
* DEWAN HOUSING FINANCE CORP: MV SCIF Mauritius sold 1.71 mln shares, or 0.59% stake, in the company at 284.2 rupees per share.
* FIEM INDUSTRIES: Has raised 1.2 bln rupees form domestic as well as overseas investors, through a qualified institutional placement.
* HERITAGE FOODS: Future Group is in advanced talks to acquire the retail business of the company.
* IDBI BANK: The bank is aiming to raise 60 bln rupees and has invited interest from merchant bankers to manage its share sale.
* INDIABULLS HOUSING FINANCE: The public issue of non-convertible debentures worth up to 70 bln rupees closed on day two after being subscribed over two times.
* ITC: The company is aiming at becoming the number one player in the foods business in the next
couple of years.
* LUPIN: The company is looking at buyout opportunities in India to gain market share.
* MAX INDIA: A private equity fund managed by Goldman Sachs is looking to sell its 15% stake in Max Financial Services in a 24-bln-rupee deal.
* MOTHERSON SUMI SYSTEMS: Has raised 19.93 bln rupees by issuing 62.88 mln shares to qualified institutional buyers at 317 rupees per share.
* OIL AND NATURAL GAS CORP: The state-owned oil company's overseas arm ONGC Videsh Ltd is seeking $537 mln worth of crude oil instead of cash due for its share of sales from a Venezuelan oilfield.
* POWER GRID CORP OF INDIA: The board has approved investment of 5.62 bln rupees to strengthen transmission systems in the southern region. The company's shareholders have given consent to raising 140 bln rupees through the issuance of bonds under private placement during 2017-18 (Apr-Mar).
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm has filed the highest earnest money deposit of 65 bln rupees, almost the same as the combined deposits of top-three telecom companies, for the upcoming spectrum auctions. State-owned telecom firm BSNL has said it has provided "sufficient points of interconnect" to Reliance Jio Infocomm and can augment it further, based on requirement.
* RELIANCE INFRASTRUCTURE: A Nordic region-based fund house bought 1.71 mln shares, or 0.65% stake, of the company at 598.54 rupees per share.
* SCOOTERS INDIA: The heavy industries ministry is likely to seek Cabinet approval for "strategic
disinvestment" of the company, a top official said.
* SOUTH INDIAN BANK: Foreign portfolio investors will need prior approval from the Reserve Bank of India to invest in the bank.
* TRENT: Tata Sons will hike its stake in the company to 27.74% by acquiring 1.17% shareholding as part of restructuring of its investment portfolio.
* TRIDENT: Promoter Trident Group has bought 900,000 shares of the company, representing 0.18%
stake, from Satyam Home Furnishings at 53 rupees a piece through a block deal on the National Stock Exchange.
* UJJIVAN FINANCIAL SERVICES: International Finance Corp is planning to invest up to $40 mln in the company in the form of senior debt.
* UNITED BREWERIES: YES BANK sold 1.85 mln shares, or 0.70% stake in the company, to promoter Heineken International BV at 819.50 rupees per share.
* WESTLIFE DEVELOPMENT: The company's subsidiary Hardcastle Restaurants plans to invest 7.5 bln rupees over five-seven years to double the outlets of food chain McDonald's.
* WOCKHARDT: Said it had no update to offer on issues related to an import alert issued in 2013 by US Food and Drug Administration against its Chikalthana unit in Maharashtra.
