Stocks in the news: Bharat Forge, SBI, Mindtree, Atul, KPR Mill, Zodiac Clothing

Here are the stocks that are in news today:

State Bank of India: Bank to introduce repo rate-linked home loans from July 1.

HDFC Bank: Bank keeps MCLR unchanged in the range of 8.30-8.95 percent.

Bharat Forge: Company is in joint venture with Germany's Refu Electronik, to hold 50 percent stake.

MOIL gets Environment Clearance (EC) of Ukwa Mine

Mindtree: L&T brings in open offer to acquire up to 5.13 crore shares in Mindtree, at Rs 980 per share. Open offer to open on June 17 & close on June 28.

M&M: The company as part of aligning its production with sales requirements, would be observing 'No Production Days' ranging between 5-13 days in various plants of the Company and MVML during the first quarter of the financial year 2019-2020.

Kotak Mahindra Bank: The Reserve Bank of India has levied a penalty of Rs 2 crore on the bank.

Zodiac Clothing: ICRA revised the short term rating for Rs 80 crore Line of Credit to A2 from A2+.

TVS Motor: Company becomes the official sponsor for the Bangladesh National Football team.

Maruti Suzuki total production for May 2019 at 1,51,188 units against 1,84,612, YoY

UFO Moviez board approved Scheme of Arrangement between Valuable Digital Screens and UFO Moviez India

Manappuram Finance clarified that the company has received a show Cause notice from SEBI pertaining to an incident in 2013

Andhra Petrochemicals: ICRA upgraded its long-term rating from BBB to BBB+ and short term rating from A3+ to A2 assigned earlier to the Rs 94.18 crore Line of Credit of company. The outlook on the long-term rating has been retained at positive. Short term rating was revised from A3+ to A2.

J&K Bank: Bank appointed RK Chhibber as interim CMD.

Xchanging Solutions: Promoter Xchanging Technology Services India to sell 87.99 lakh shares of the company via offer for sale on June 10-11, with an option to additionally sell 87.99 lakh shares. Floor price fixed at Rs 45 per share.

CG Power and Industrial Solutions: CG launches next generation of compact drives and advance series of products for the industrial automation.

Atul: Company terminated joint venture agreement signed with Elkay Kimyasal Maddeler SAN. TIC. A.S. based in Turkey (Eikay) for promoting stone care chemicals in India.

Tata Power: CRISIL reaffirmed the company’s long term AA – (Stable) and short term rating to A1+ post clearance of all dues.

S Chand and Company: CARE revised its rating on long term bank facilities of the company to A/Stable from AA-/Stable. Promoters Himanshu Gupta and Dinesh Kumar Jhunjhunwala bought 30,000 shares each.

Zee Entertainment Enterprises: Upon a rating review by Brickwork Ratings India Pvt Ltd, the credit rating of 6% cumulative redeemable non-convertible preference shares, issued by the company as bonus to its equity shareholders in 2014, has been placed on 'AA (Credit Watch with Negative Implications), from AAA (Credit Watch with Developing Implications)'.

SREI Infrastructure Finance: Company and PFS join hands to facilitate financing in the energy value chain.

Union Quality Plastics: Fire accident occurred on June 4 at Umbergaon manufacturing facilty.

KPR Mill: Buyback committee has fixed the record date as June 19 for buyback of equity shares of the company.

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Stocks in the news: Bajaj Auto, PNB, Manappuram Finance, Blue Dart, ACE, Mindtree

Here are the stocks that are in the news today:

Results Today: Bajaj Auto, Dr. Reddy's Laboratories, IOC, Ajmera Realty, Allsec Technologies, Arvind, Bajaj Holdings, Balkrishna Industries, CESC, Corporation Bank, Engineers India, Jubilant Life Sciences, Sical Logistics, Sobha, UPL, Zee Learn

Universal Cables Q4: Net profit up 16.7% at Rs 22 crore versus Rs 18.4 crore, revenue up 9.4% at Rs 410.4 crore versus Rs 375.2 crore, YoY

Blue Dart Q4: Net profit down 62.3% at Rs 12.9 crore versus Rs 34.1 crore, revenue up 8.7% at Rs 779.3 crore versus Rs 717 crore, YoY

JK Tyre Q4: Consolidated net profit down 76.9% at Rs 34 crore versus Rs 145.3 crore

Bajaj Finserv Q4: Consolidated net profit up 31.7% at Rs 839 crore, revenue up 43.5% at Rs 12,994.5 crore

Igarashi Motors Q4: Net profit at Rs 7.1 crore versus Rs 24.6 crore, revenue at Rs 142.2 crore versus Rs 157.3 crore, YoY

Neuland Labs Q4: Net profit down 16% at Rs 7 crore versus Rs 8 crore, revenue up 7.8% at Rs 172,7 crore versus Rs 160.2 crore, YoY

Jubilant Industries Q4: Net loss at Rs 5.16 crore versus Rs 3.37 crore, revenue up 28.6% at Rs 142 crore versus Rs 110 crore, YoY

Kirloskar Brothers Q4: Net profit up 11.7% at Rs 36.3 crore versus Rs 32.5 crore, revenue up 22.5% at Rs 761.9 crore versus Rs 622 crore, YoY

Praj Industries Q4: Consolidated net profit up 24.5% at Rs 33 crore versus Rs 26.8 crore, revenue up 34.1% at Rs 368.2 crore versus Rs 274.5 crore, YoY

Johnson Controls -Hitachi Air Conditioning Q4: Net profit up 5% at Rs 42 crore against Rs 40 crore, revenue up 6% at Rs 665.4 crore versus Rs 627.7 crore, YoY

L&T now owns over 26% stake in Mindtree

Trigyn Technologies' subsidiary awarded a contract to provide IT placement services for the Houston Independent School District

ICRA has re-affirmed the long-term rating as A- and short-term credit ratings as A2+ for bank facilities of Kothari Petrochemicals

Manappuram Finance approve to acquire 100% equity shares of Manappuram Asset Finance for Rs 34.21 crore

PNB terminates sale of housing arm to Varde Holdings Pte and General Atlantic Group

ICICI Prudential Life Insurance reduced its stake in Cyient from 5.02% to 2.99%

KDDL subsidiary Ethosopened flagship store in Hyderabad

Minda Industries approved merger of four wholly owned subsidiaries with company

Punjab & Sind Bank reviewed the Marginal Cost of Fund Based Lending Rate (MCLR) for different tenors and the same will be effective from 16.05.2019

Action Construction Equipment (ACE) approved the proposal to buyback company's fully paid-up equity shares for an aggregate amount not exceeding Rs 34.25 crore for a price not exceeding Rs 125 per equity share

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Stocks in the news: RIL, Wipro, Mindtree, InterGlobe, Jet Airways, Cipla, Bandhan Bank

Here are stocks that are in the news today:

Results on April 18: Reliance Industries, RBL Bank, DCB Bank, ICICI Lombard General Insurance Company, Tata Sponge Iron, Jay Bharat Maruti, Uttam Galva Steels, Majestic Auto, Amal, Andhra Pradesh Tanneries, B2B Software Technologies

Wipro Q4: IT Services revenue down 0.5 percent to Rs 14,586.5 crore versus Rs 14,665.6 crore. Company approves share buyback worth up to Rs 10,500 crore via tender offer and expects dollar revenue in Q1FY20 in the range of $2,046-2,087 million (a growth of -1% To +1% over Q4FY19).

Mindtree Q4: Profit grew 3.8 percent to Rs 198.4 crore, revenue rose 2.9 percent to Rs 1,839.4 crore, dollar revenue grew 4.2 percent to $262 million, constant currency revenue growth of 3.9 percent QoQ. The company crossed $1 billion in annual revenue.

Mindtree: Company recommended a final dividend of 40 percent (Rs 4 per share) for the financial year ended March 2019 and a special dividend of 200 percent (Rs 20 per share) to celebrate the twin achievements of exceeding $1 billion annual revenue milestone and the 20th anniversary of the company.

Ashoka Buildcon received letter of Award from Rail Vikas Nigam of Rs 443.23 crore

Granules Pharmaceuticals Inc. received USFDA approval for Acetaminophen 650 mg, extended release tablets

CRISIL March quarter: Consolidated profit fell to Rs 76.64 crore versus Rs 82.21 crore; revenue declined to Rs 415.79 crore versus Rs 419.95 crore YoY.

CRISIL: Company approved payment of an interim dividend of Rs 6 per share for the financial year ending December 2019.

Reliance Industries: Mitsui O.S.K. Lines will acquire a strategic stake in six group companies (each owning a very large ethane carrier) of RIL.

RIL: Saudi Aramco in talks to acquire up to a 25 percent stake in Reliance Industries' refining and petrochemicals businesses - Reuters

Reliance Retail in talks to buy out 259-year-old British toymaker Hamleys - Sources

Embassy Office Parks REIT to consider issuing NCDs on Private Placement basis on April 23

InterGlobe Aviation, SpiceJet in focus: Aviation Secretary said Directorate General of Civil Aviation advised airlines to keep fares on check & bring them down after it found air fares on 40 sectors 10-30 percent higher. 90 percent of Jet Airways slots vacant, being re-allotted temporarily.

Jet Airways: Company suspends all operations temporarily.

Cipla: Company to buy 30 percent share in Brandmed at upfront payment of (South African) 65 million rand.

Bandhan Bank: CCI approves merger of Gruh Finance with Bandhan Bank.

Eris Lifesciences: Completed consolidation of shareholding in the subsidiary, Kinedex Healthcare completed.

Sadbhav Infrastructure Project: Sadbhav Vizag Port Road, a wholly-owned subsidiary of the company submitted draft financing documents to NHAI in relation to financial close.

ICICI Lombard General Insurance Company: ICRA reaffirmed the iAAA rating to the claims-paying ability of the company.

Tata Communications appoints Pathmal Gunawardana as its new Americas chief

Cadila Healthcare: Zydus received final approval from the USFDA for Acetazolamide for injection.

Star Cement received Rs 174.48 crore towards its freight subsidy claims from the Central Government

Hindalco Industries: Toyota selected company's subsidiary Novelis as an aluminum supplier for 2019 vehicle RAV4.

JM Financial Products' secured NCD issue to open on April 22, 2019

Weizmann Forex: Board considered the appointment of 3 additional directors and resignation of directors.

Intellect Design Arena: Ithala SOC, licensed financial services and registered credit provider based in South Africa chose Intellect Digital Core to power their digital transformation.

Cadila Healthcare: Zydus announces Phase 3 trial of Desidustat in non-dialysis dependent chronic kidney disease (CKD) patients with anaemia.

Foods & Inns fixed May 2 as record date for bonus share issue

Sasken Technologies to consider share buyback on April 23

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Source: Moneycontrol

Stocks in the news: Wockhardt, Mindtree, Jet, GMR Infra, Narayana Hrudayalaya, Sheela Foam

Here are the stocks that are in news today:

Sheela Foam: 2 promoters to sell up to 8.68 percent stake in company via offer for sale on March 27-28. OFS floor price set at Rs 1,100 per share.

Jet Airways: Company to reinstate 50 flights from March 31 and to resume operations from Bhuj, Mangalore, Bhopal & Aurangabad - CNBC-TV18 sources.

GMR Infrastructure announces proposed investment of Rs 8000 crore by TATA Group, GIC and SSG Capital Management in its airports business

Wockhardt: Ireland, UK Drug Regulators cleared Aurangabad unit

Mindtree: Board has decided not to proceed with buyback of equity shares of the company and has formed directors panel to evaluate L&T open offer.

Bharat Electronics: Board declared a third interim dividend of 70 paise per share of Re 1 each fully paid-up for the financial year 2018-19 and has fixed March 28 as the record date for the payment of interim dividend.

Meghmani Organics: Fire broke out at agri manufacturing unit in Dahej.

Aris International: Board appointed Sushma Anuj Yadav as Chief Financial Officer of the company.

Dish TV board approved appoitment of Anil Kumar Dua, existing CEO of the company, as an additional director

PNB - RBI Imposed penalty of Rs 2 crore during assessment of implementation of SWIFT- related operational controls

Sanghvi Movers: ICRA, after due consideration, has revised the long-term rating from A to A- and short term rating from A1 to A2+.

Unitech: Company successfully entered into a Share Purchase Agreement with Sterling and Wilson Private Limited for sale of entire issued and paid up share capital of Unitech Power Transmission Limited.

Allahabad Bank: Board approved raising equity capital of the bank by an amount aggregating upto Rs 4,000 crore.

Peninsula Land: ICRA revised its rating on company's non-convertible debentures of Rs 520.53 crore to BBB- on account of lower-than-expected sales and collections against the backdrop of delay in receipt of Occupancy Certificate (OC) in some of the company's large sized completed projects.

Geojit Financial Services: A P Kurian has tendered his resignation as the Chaiman and Independent Director of the company on account of new compliance requirements under the SEBI Listing Regulations.

GOCL Corporation: Board declared an interim dividend of Rs 2 per share of face value of Rs 2 each for the financial year 2018-19.

Frontline Securities: Board approved proposal for buy back of fuly paid up equity shares of Rs 5 each at a price of Rs 40 per share , aggregating to an amount up to Rs 75.60 crore.

SRI KPR Industries: Board approved the sale of 1.5MW wind mill unit situated at Karaichchuttupudur village, Tamil Nadu.

Narayana Hrudayalaya: Company proposed to set up a business process and technology consultancy business in United States Of America.

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Source: Moneycontrol

Stocks in the news: Bajaj Auto, Infosys, Mindtree, DB Realty, Asian Oilfield, Jet Airways, PFC

Here are stocks that are in the news today:

The Investment Trust of India: Material subsidiary of the company, ITI Reinsurance Limited has bought back 5,43,60,000 equity shares of Rs 10 each from its shareholders. ITI Reinsurance Limited has become a wholly owned subsidiary of the company.

ABans Enterprises: Board approved acquiring Abans Jewels Private Limited, a entity owned by Promoter and Managing Director, Abhishek Bansal and Non-Executive Director, Shriyam Bansal.

Mindtree: Board defers decision on buyback

Piramal Enterprises: Company repurchased 3,500 debentures having face value of Rs 10 lakh. An aggregate 1,500 debentures shall remain outstanding.

Adani Transmission: Board approved the buy-back of 10,000 non-convertible debentures (NCDs) aggregating upto Rs 1,000 crore from the existing debenture holders in one or more tranche.

Greaves Cotton: Promoters of the company DBH International Private Limited [DBHI], Bharat Starch Products Private Limited [BSP] and Karun Carpets Private Limited [KCPL] said they are considering a Scheme of Amalgamation wherein DBHI, BSP and DBH Investments Private Limited will amalgamate into KCPL.

Greenlam Industries: Board approved to increase the manufacturing capacity of the company to manufacture additional 1.6 million laminate sheets per annum. The capital cost of this brownfield expansion would be approximately Rs 25 crore. The expanded capacity is expected to be operationalized within a period of 9 months.

Tata Steel BSL: Committee of Directors approved allotment of 420 crore - 11.09% non-convertible redeemable preference shares having face value of Rs 10 each for cash aggregating to Rs 4,200 crore to Tata Steel Limited (NCRPS Series II) on private placement basis.

Zee Entertainment Enterprises: Company has redeemed 39,49,105 Series B Unlisted Preference Shares at Rs 10 per share and has paid pro-rata dividend for the period until March 20.

Sun TV Network: Board appointed R Mahesh Kumar as an Additional Director as well as Managing Director; Kaviya Kalanithi Maran as an Additional Director and Executive Director; Sridhar Venkatesh and Desmond Hemanth Theodore as an Additional Directors (Independent). K Vijaykumar resigned from the post of Managing Director and Chief Executive Officer.

IDFC First Bank: Bank sold the entire stake of 2,71,97,743 equity shares comprising approximately 8.37 percent of the share capital of Asset Reconstruction Company (India) Limited [Arcil].

Bosch: Company executed a joint venture agreement with Prettl India Private Limited.

GMR Infrastructure: Delhi International Airports Limited (DIAL), a GMR led consortium has awarded the right to develop and maintain a commercial development project at Gateway and Downtown Districts of Aerocity with maximum permissible FSI of approximately 9 lakh square meter at Indira Gandhi International Airport to a consortium led by Bharti Realty Ltd.

Infosys: Company and Roland-Garros announced a strategic three-year technology partnership for digital innovation.

Power Finance Corporation, REC: PFC acquired 52.63 percent stake in REC from Government of India, at Rs 14,500 crore.

Indiabulls Ventures: Subsidiary The Investment Committee of ICFL, authorised execution of Share Purchase Agreement with Transerv Private Limited, to acquire upto 42 percent of its stake, in one or more tranches.

Reliance Industries: Company has invested Rs 5 lakh in cash in 50,000 equity shares of Rs. 10 each of Reliance Navi Mumbai Infra Limited (RNMIL), a newly incorporated entity. RNMIL is incorporated with the purpose of undertaking real estate and related infrastructure activities. RNMIL is yet to commence its business operations.

Bajaj Auto: KTM Industries AG (owned by Pierer Industrie AG) was informed by Pierer Industrie AG and Bajaj that they have started discussions on assessing the possibility of transferring Bajai's 48 percent stake in KTM AG to KTM Industries AG, with the Pierer-Group continuing to retain the controlling majority over KTM Industries AG. The transaction decision is targeted to be made in the second quarter of 2019.

Rane (Madras): Company approved enhancement in investments upto $20 million in Rane Precision Die Casting Inc., USA (RPDC), step down subsidiary, through Rane (Madras) International Holdings B V, The Netherlands (RMIH), wholly owned subsidiary of the company, over the next five years.

KIOCL: Government intimated the Request For Proposal (RFP) for engagement of book running lead managers (BRLM) for disinvestment of upto 15 percent paid up equity of company out of its shareholding of 99.06 percent through 'follow-on public offer' in the domestic market.

BEML: Board declared interim dividend of Rs 4.50 per share of Rs 10 each for the financial year 2018-19. Board also approved 'Request for Proposal' for appointment of transaction advisor, legal advisor & asset valuer for disinvestment of company shareholding of 96.56 percent in subsidiary Vignyan Industries Limited.

Manappuram Finance: Board approved acquiring 100 percent equity shares of Manappuram Comptech & Consultants Ltd and to make it a wholly owned subsidiary company of the company.

Suprajit Engineering: Promoters K Ajith Kumar Rai and Supriya Ajith Rai said Supriyajith Family Trust acquired 38 percent shares of the company.

Amit Spinning Industries: Power supply at the factory of the company which was disconnected in the year 2015 by Maharashtra State Electricity Distribution Company Limited (MSEDCL) has been resumed.

Jet Airways: Banks to ask Naresh Goyal to step down from Jet Airways with immediate effect and want Naresh Goyal tobring his stake down to 10%: CNBC-TV18 Sources.

GE T&D India:  As part of the ongoing steps being taken by the Company to optimise the level of costs and to further improve the competitiveness in the Transformer business, it has been decided to right size the scale of operations in one of the factories which manufactures transformers at Naini, Uttar Pradesh.

Krypton Industries: Company received an order of Rs 23.10 crore, to be fulfilled in between March 2019 to March 2020 for hospital equipment (wheelchairs) through dealer against Tender from ALIMCO, a Government of India Undertaking.

DB Realty: Promoters released a pledge on 2.2 crore shares

Asian Oilfield Services: Company received a binding letter of intent from Oilmax Energy Private Limited for supply and O&M surface facilities for its Charaideo field.

HUDCO: Company establishes MTN plan for Rs 5,000 crore bonds issue overseas

Prima Plastics: Prima Dee-Lite Plastics S.A.R.L. (joint venture company) at Cameroon West Africa, has declared a dividend for the period ended December 2018, of which 3,65,148 euro is receivable by company.

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Source: Moneycontrol

Coffee Day Enterprises falls 4% on stake sale in Mindtree

Shares of Coffee Day Enterprises shed 4 percent intraday Tuesday after the company decided to sell its stake in Mindtree.

Coffee Day Trading, a subsidiary of Coffee Day Enterprises, and VG Siddhartha, promoter of the company along with certain other parties have signed a definitive agreement to sell their entire stake in Mindtree to Larsen & Toubro for a consideration not exceeding Rs 3,269 crore, the company said in BSE release.

The proceeds would be used to pare down the Coffee Day Group's debt. This divestment supports the company's business strategy to devote more time to its flagship coffee business, it added.

VG Siddhartha, Chairman of the company said: "This business restructuring allows us to sharpen our portfolio focus and devote more time towards the strategy for our coffee business. We remain committed towards achieving overall growth in our business by focusing on execution and increasing shareholder value. "

The transaction is expected to close in the first quarter of FY20 and is subject to customary closing conditions, including regulatory approvals being received.

At 11:00 hrs, Coffee Day Enterprises was quoting at Rs 298.50, down Rs 11.15, or 3.60 percent, on the BSE.

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Source: Moneycontrol

Mindtree falls as L&T announces acquisition of company's stake

Shares of Mindtree fell 1 percent in early trade on Tuesday after L&T said on March 18 it would buy 20.32 percent stake at Rs 980 per share in Mindtree for Rs 3,269 crore.

Larsen and Toubro (L&T) also made an open offer for acquisition of up to 5,13,25,371 fully paid up equity shares having a face value Rs 10 of Mindtree representing 31 percent of the voting share capital at Rs 980 per share, as company BSE Release.

L&T has appointed Axis Capital and Citigroup Global Markets India as the managers to the open offer.

The stock price of L&T also fell about 1.5 percent to Rs 1,359.20.

However, the promoters of the company, Krishnakumar Natarajan, Subroto Bagchi, Rostow Ravanan and Parthasarathy NS in their statement on BSE said they would unconditionally oppose the reported hostile takeover bid by Larsen and Toubro.

We have tried to be co-operative with Mindtree promoters and only time will tell if we can retain them, said AM Naik, Group Executive Chairman of L&T to CNBC-TV18.

We are not looking at a merger in the near future, but if promoters want to exit then we may think of a merger, he added.

Meanwhile in an another deal, Coffee Day Trading, a subsidiary of Coffee Day Enterprises, and VG Siddhartha, promoter of the company along with certain other parties have signed a definitive agreement to sell their entire stake in Mindtree to Larsen & Toubro for a consideration not exceeding Rs 3,269 crore.

At 09:22 hrs, Mindtree was quoting at Rs 952.85, down Rs 9.65, or 1 percent on the BSE.

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Source: Moneycontrol

Stocks in the news: Oil India, Bandhan Bank, Lumax Auto, Mindtree, Majesco, HDFC, DHFL

Here are stocks that are in the news today:

Lumax Auto Technologies: Company decided for discontinuation of the PCB manufacturing w.e.f. April 1, 2019. In addition, the board has also approved the disposal of plant and machinery to Lumax Industries relating to PCB Business on arm’s length basis and not below its book value.

Jaiprakash Associates: Board approved the re-appointment of Manoj Gaur, Executive Chairman & CEO and Sunil Kumar Sharma, Executive Vice Chairman for a further term of three years.

Future Consumer: Company announced redemption of non-convertible debentures.

Oil India -Joint Venture Partners of Mozambique Rovuma Offshore Area 1, concludes over 9.5 MMTPAof LNG Sale and Purchase Agreements

Mindtree to consider proposal of buyback on March 20

Karnataka Bank: The bank partners with Karvy DigKonnect for contact centre services.

Grasim Industries received an order issued by the DCIT raising a demand of Rs. 5,872.13 crore on account of dividend distribution tax

Kesoram Industries: The company's rating pertaining to that portion of its long term/short term banking facilities as been assigned to CARE Ratings Limited for rating has been revised to BB+/ A4+ (under credit watch with developing implications).

Majesco: Board approved to sell, transfer and dispose of, as a going concern and on a slump sale basis, the company's India Insurance Products & Services Business to Majesco Software and Solutions India Private Limited, a step-down subsidiary of the company, for a lump sum consideration of Rs 24.4 crore.

Kotak Mahindra Bank approved re-appointment of Prakash Apte and Uday Shankar as an independent directors of the bank.

The Bank approves dividend on 100 crore preference shares

Mishra Dhatu Nigam: Board declared payment of Rs 1.68 per share as the first interim dividend on equity shares for the financial year 2018-19 and fixed March 26 as the record date for dividend payment.

SAIL: CARE has assigned AA- outlook stable to company's long term fund based facility (term loan).

Bandhan Bank/Gruh Finance received No Objection from the RBI for the amalgamation of GRUH Finance into and with Bandhan Bank

HDFC- RBI has granted in-principle approval to the company for acquisition of 9.9% or less of the paid up voting equity capital of Bandhan upon the effective date of the scheme

Indostar Capital approved NCD worth Rs 15 crore on private placement basis

Indo Amines: 'No observation' letter has been received from BSE for proposed amalgamation amongst Core Chemical (Mumbai) Private Limited and Key Organics Private Limited with Indo Amines Limited, so as to enable the company to file the scheme with NCLT.

DHFL: Special Committee of the board of directors accorded approval to disinvest to Olive Vine Investment Limited an affiliate of the Warburg Pincus Group.

Santosh Sharma (currently the CFO) will assume a new role as the Head - Corporate Strategy.

India Ratings & Research revised rating on long term bank loans of Religare Enterprises to IND B+/RWN from IND BB/RWN, while on short term bank loan rating revised from IND A4+/RWN to IND A4/RWN

J&K Bank executed share purchase agreement with Oman India Joint Investment Fund II for sale by the Bank 4,11,11,111 crore equity shares of PNB MetLife India Insurance Company at a total consideration of Rs 185 crore

Lupin: Subsidiary Novel Laboratories Inc. has received a letter from the USFDA classifying the inspection conducted at its Somerset (New Jersey) facility in December 2018 as Official Action Indicated (OAI). The US FDA has stated that this facility may be subject to regulatory or administrative action and that it may withhold approval of any pending applications or supplements in which this facility is listed.

NHPC approved raising of fund through External Commercial Borrowing (ECB) in JPY equivalent to USD 100 Million from MUFG Bank

REC board meet on March 20, 2019, to consider a proposal relating to market borrowing programme for the financial year 2019-20

Prakash Industries - National Law Company Law Tribunal sanctioned the demerger scheme of company's business of PVC Pipes & Fittings and Flexible Packaging into Prakash Pipes

Cadila Healthcare: Zydus receives final approval from the USFDA for Valsartan and Hydrochlorothiazide tablets.

Mirc Electronics: Vishal Barot has resigned as Chief Financial Officer (CFO) of the company due to personal reasons.

Punjab & Sind Bank reviewed MCLR w.e.f. March 16, 2019

Zuari Global: Company has acquired around 48.98 percent shares of Forte Furniture Products India Private Limited (FFPL) from Indian Furniture Products Limited (IFPL), subsidiary of the company.

HUDCO further raised funds of Rs 5320 crore through Issue of Government of India Fully Serviced, Unsecured, Taxable HUDCO Bonds Series V-2018

Vodafone Idea board meet on March 20 to consider, discuss and decide, various matters in connection with the rights issue

India rating & research downgrades rating on NCD to IND A+ with rating watch negative (RWN)

Jubilant Foodworks - Domino’s Pizza officially launched in Bangladesh

Out of F&O Ban: BEML, Reliance Power.

Bulk Deals on March 15

Analyst or Board Meet/Briefings

EID Parry India: Board meeting will be held on March 22 to consider the second interim dividend on equity shares, if any, for the financial year 2018-19.

Finolex Industries: Company's officials will meet investors/analysts on March 18.

PSP Projects: Company's officials will meet analyst/institutional investors on March 18 and 25.

Emmbi Industries: Company's officials will meet Moneybee Investment Advisors on March 18.

Deep Industries: Officials of the company will be meeting investors and analysts on March 19.

Jindal Steel & Power: Analysts and Investors visit to Angul plant is scheduled on March 18.

South Indian Bank: Officials of the bank will be meeting a group of institutional investors organised by SBI Caps Securities on March 19.

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Source: Moneycontrol