Stock In News 01-04-2019

Stocks in the News: Maruti Suzuki, Tata Motors, Cipla, Indoco Remedies, Welspun Corp, Embassy Office, IOL Chemicals | Inox Leisure | Titan Company | GAIL | BHEL | Cyient and SRF are stocks which are in the news today.


Here are stocks that are in the news today:

Listing: Embassy Office Parks REIT(IPO)

Auto sales: Maruti Suzuki, Ashok Leyland, Escorts, Eicher Motors, etc in focus.

Dr Reddy's Labs: German drug regulator cleared Duvvada formulations unit.

Welspun Corp: Company announced value unlocking of approximately Rs 940 crore through the divestment of its plate and coil mill division (PCMD) and its 43 MW power division.

Cipla: USFDA issued 8 GMP observations and 10 observations pertaining to the PAI for a novel technology product slated for approval beyond 2024 while inspecting Kurkumbh plant.

Shriram Transport board meeting on April 30, to consider raising of funds

Vikas WSP: Company received sanction for 80 percent principle outstanding amount of Rs 97.75 crore of both these banks being Rs 78.20 crore to be paid by ACRE and 20 percent amount Rs 19.55 crore to be paid by the promoters aggregating to Rs 97.75 crore in all. Punjab National Bank account has already been operating as standard w.e.f. April 2017.

Kolte-Patil Developers: Board declared interim dividend of Rs 1.40 per share for the financial year 2018-19.

Havells India started commercial production of air conditioners at its Ghiloth plant

Edelweiss Financial Services: Company appoints Dr Ashima Goyal and Anita George as independent directors.

CreditAccess Grameen: Company completed a securitization of Rs 93.83 crore. With this transaction, it completed seven securitization and four Direct Assignment transactions totaling to Rs 1,667.05 crore in FY19.

Titan Company: Company increased its shareholding in subsidiary Carat Lane Trading Private Limited from 66.39 percent to 69.47 percent.

Jubilant Foodworks' director Ramni Nirula resigns

Wipro - NCLT approved the scheme of amalgamation for the merger of wholly owned subsidiaries

Inox Leisure: Company commenced commercial operations of a multiplex cinema theatre taken on Leave and License basis, in Chennai. The said multiplex cinema theatre has 8 screens and 1,820 seats.

J&K Bank transferred 4.11 crore shares of PNB MetLife India Insurance Company to Oman India Joint Investment Fund II for a total consideration of Rs 185 crore

Cyient: Cyient Insights LLC, USA, a step down subsidiary of the company through Cyient Insights Private Limited, has been dissolved.

IOL Chemicals: Board allotted 6,82,000 equity shares of Rs 10 each at a premium of Rs 195 per share to promoter Towels Enterprises Limited.

Apollo Pipes: Virendra Singh Verma resigned from the post of CEO of the company.

Vijay Kelkar resigned from the directorship of the Lupin effective March 28, 2019.

Gujarat Gas: India Ratings and Research revised company's outlook to positive from stable while affirming its long-term issuer rating at AA.

Moody's assigns (P)Baa3 rating to IndusInd Bank's Medium Tcrm Notes (MTN) Program

Tata Motors: Company sold its shareholding in TAL Manufacturing Solutions to TASL at an enterprise value of Rs 625 crore for the aerospace business and acquired non aerospace business from TAL at a value of Rs 10 lakh.

Karnex Microsystems: Board approved further investment in Avant-Garde Infosystems Inc., USA a 100% wholly owned subsidiary.

Zenith Fibres: Board approved buyback of upto 5.5 lakh equity shares at a price of Rs 55 per share, aggregating to Rs 3.025 crore.

Lakshmi Vilas Bank revised MCLR w.e.f. April 1

Garden Reach Shipbuilders & Engineers: Company delivered its 100th Warship, a Landing Craft Utility (LCU), L-56, to the Indian Navy.

GAIL, BHEL: Companies signed MoU for development of solar based power project.

Mishra Dhatu Nigam: Company handed over bullet proof vehicles to Central Armed Police Force at Midhani.

Muthoot Capital Services: Company completed a securitisation transaction of Rs 38.86 crore. With this transaction, the company has so far raised total funds of Rs 783.30 crore through securitization / direct assignment transactions during the FY19.

CONCOR inaugurates its first distribution logistics center at Ennore, Chennai

Mahindra & Mahindra: MSPE URJA SRL with registered seat in Rovereto, Trentino, Italy, is incorporated in Rome, Italy as a wholly owned subsidiary of Mahindra Susten Private Limited, which is a wholly owned subsidiary of Mahindra Holdings Limited, which is a wholly owned subsidiary of the company.

SRF: Gujarat Pollution Control Board had issued directions under Water (Prevention and Control of Pollution) Act to the company to close the operations of its industrial plant at Dahej, Gujarat.

Blue Coast Hotels: Company announced acquisition of 8.5 crore equity shares from IFCI Limited in subsidiary Silver Resort Hotel India.

Rushil Decor has received a closure intimation from Gujarat Pollution Control Board (GPCB) to stop the Manufacturing process of one of the Laminate Sheet manufacturing units

Reliance Capital: ICRA revised its rating to A2 (on rating watch with negative implications) for the short-term debt programme of the company.

Astec Lifesciences: ICRA upgraded / re-affirmed credit ratings for Rs 455 crore line of credit (LOC) and Rs 100 crore commercial paper programme of the company.

Darjeeling Ropeway Company: Company bagged sub-contract for construction of 24 shades for district police offices/units at Ahmedabad and Surat City worth of Rs 2.52 crore, and sub-contract for repair and maintenance of 73 boats used by State Disaster Recovery Force, Emergency Response Centre, Municipal Corporation and Gujarat District collectively. The total contract amount is Rs 71.9 lakh.

Mishra Dhatu Nigam - Handing over of Bullet Proof Vehicles to Central Armed Police Force at MIDHANI

Crompton Greaves Consumer Electricals: CRISIL revised the credit rating of non-convertible debentures of company.

JK Tyre: Board alloted 1,94,17,400 equity shares to the constituents of the promoter group of the company on preferential basis.

Phillips Carbon Black: ICRA re-affirmed the long-term rating for the captioned Line of Credit (LOC) at AA-. The outlook on the long-term rating is revised from stable to positive.

Galaxy Surfactants: Board declared interim dividend of Rs 5 per share for the financial year 2018-19.

Suryalata Spinning Mills: Company successfully installed and completed trailes on 22,000 spindles at Kalwakurthy Unit. Consequent to this capacity expansion, the total capacity of spindles of the company has been increased from 93,000 to 1,15,000.

Virinchi: Company announced operational readiness of additional 50 beds of Banjara Hills facility in Hyderabad taking the operational capacity to 400 beds.

Gayatri Highways' subsidiary terminated its concession agreement with National Highways Authority of India (NHAI) on the basis of Force Majeure (Political event)

Indian Bank: Department of Financial Services, Ministry of Finance has issued notification for amalgamation of Pallavan Grama Bank (sponsored by Indian Bank) and Pandyan Grama Bank (sponsored by Indian Overseas Bank) in Tamil Nadu into a single regional rural bank which shall be called as Tamil Nadu Grama Bank with its head office at Salem under the sponsorship of Indian Bank.

SRF in process to close the operations of its industrial plant at Dahej

IOL Chemicals: Company made the pre-payment of term loan of Rs 20.05 crore due to banks in addition to regular payment schedule.

HEG: Company announced completion of extinguishment/destruction of a total of 13,63,636 equity shares of company after buyback.

Havells India: Company started commercial production of air conditioners at its Ghiloth plant.

Williamson Magor & Company: Company announced acquisition of 20,11,500 equity shares of Rs 10 each of Williamson Financial Services.

Rushil Decor: Gujarat Pollution Control Board (GPCB) issued notice to stop manufacturing process of one of the laminate sheet manufacturing units.

JM Financial: Company entered into a sale and purchase agreement for acquiring equity shares of JM Financial Asset Reconstruction Company Limited , a subsidiary of the company. With the acquisition, the company's shareholding in JMFARC has increased to 59.25 percent from 57.07 percent.

GMR Infra - Cancellation of 4 series Optionally Convertible Debenture (OCDs) by company on March 28

Inox Leisure: Company commenced the commercial operations of a Multiplex Cinema Theatre operated on lease basis in Bhubaneswar. The said multiplex cinema theatre has 3 screens and 609 seats.

Ugar Sugar Works: Company is already holding 48.20 percent stake in Ugar Theatre Pvt Ltd and now again has purchased up to 99 percent stake in Ugar Theatre Pvt Ltd.

Amber Enterprises: Company extended the timeline to complete the acquisition of balance stake of 51 percent in Ever Electronics by June 30, 2019 in one or more tranches.

JSW Energy: Board after careful evaluation decided not to pursue electric vehicle business and maintain capital cushion for growth opportunities in power and other related businesses.

Jubilant Life Sciences: Company and IFC Mutually agree for settlement of zero coupon convertible loan.

Indoco Remedies: USFDA cleared the sterile manufacturing facility of finished dosages, located at Goa (Plant II).

CyberTech Systems and Software: Overseas direct investment of $0.2 million is made in subsidiary Spatialitics LLC, Delaware, USA.

Grasim Industries: Company acquired Soktas India for Rs 135 crore.

MCX India: Board approved the appointment of PS Reddy as MD & CEO of the company.

Vadilal Industries: Company said the agenda to re-appoint Rajesh Gandhi and Devanshu Gandhi as Managing Directors of the company was not passed unanimously. It was further resolved to appoint a professional Managing Director/Chief Executive Officer/Manager for the company. Rajesh Gandhi and Devanshu Gandhi will continue to work for the company as a director of the company without any remuneration.

Lyka Labs: Company entered into One Time Settlement agreement with the Bank of Maharashtra and arranged to make an upfront payment of Rs 11 crore as settlement amount and Rs 6.49 lakh as processing fees to the bank.

Sadbhav Infrastructure Project: Company acquired further 6 percent (3,000) equity shares of subsidiary Maharashtra Border Check Post Network Limited (MBCPNL), held by SREI.

Container Corporation of India: First distribution logistics centre at Ennore, Chennai was inaugurated on March 30.

Dynamic Industries: Company has disinvested/sold its entire investment in equity shares of its wholly owned subsidiary in Neo Farbe Private Limited.

Scanpoint Geomatics: Company in consortium with Team Computers Private Limited (lead bidder) received a contract for setting up of enterprise Geoportal for National Atlas and Thematic Mapping Organisation (NATMO), Kolkata. The aggregate value of project for SGL is Rs 2.08 crore.

The company received a contract of enterprise and City GIS Solution for Agra Smart City through Master System Integrator (MSI) - Bharat Electronics and Lookman Electroplast Industries Limited, and for Lucknow Smart City through MSI Fluent Grid Limited and Bharat Electronics. The aggregate value of the said projects for SGL is Rs 9.33 crore.

Navkar Corporation: Board approved appointment of Captain Dinesh Gautama as whole time director of the company with immediate effect. Dinesh Gautama is also serving as Chief Executive Officer.

Sayaji Industries: Board has authorised Priyam B Mehta, Varun P Mehta and Vishal P Mehta individually and jointly to enter into a Joint Venture Agreement with Societe Developpement Produits Afrique - SDPA, France, the holding company of Alland and Robert for manufacturing of gum arabic/ gum acacia, gum ghatti and gum blends. The joint venture will be a 50:50.

Rico Auto Industries: Company alongwith its step down subsidiary, Rasa Autocom Limited has completed the acquisition of 2,11,20,000 equity shares of Magna Rico Powertrain Private Limited from Magna Powertrain GMBH at the rate of Rs 4.05 per share for a total consideration of Rs 8.56 crore.

Jindal Drilling: Company has acquired an offshore jack up drilling rig from Discovery Drilling Pte Ltd, Singapore, a joint venture of the company. The rig would be soon deployed under contract with Oil and Natural Gas Corporation (ONGC) already awarded to the company.