Stocks in the news: Tata Motors, Wipro, SAIL, Music Broadcast, PFC, Tiger Logistics, Reliance Nippon

Here are the stocks that are in news today:

Tata Motors: Group May total global wholesale sales down 23 percent at 82,374 units YoY. JLR global sales at 39,895 units.

SAIL: Company likely to auction three loss-making steel plants - CNBC-TV18 sources

Mercator: RBI approved the amendment of the existing terms and conditions of the $16,000,000 4.75% Unsecured Foreign Currency Convertible Bonds (FCCBs) issued by the company.

HCC board meeting on June 17 to het shareholder’s approval egarding the proposal for raising of funds

Wipro: Company partners with Moogsoft to deliver next-gen AIOps solutions.

Kopran: Unlisted preference shares would be redeemed on the due date in June as per the terms of the issue out of accumulated profits.

Allahabad Bank decided for a downward revision of MCLR by 05 basis points (bps) across different tenors

Tiger Logistics: CARE revised the outlook of credit rating for bank facilities to negative from stable.

Tiger Logistics: Company bagged Contract for handling the export logistics for the Piaggio Vehicles Private Limited.

Music Broadcast: Company entered into a definitive binding agreement for the acquisition of Reliance Broadcast Network Limited (Big FM).+

NTPC signed JV agreement with East Delhi Municipal Corporation with equity participation of 74:26

Power Finance Corporation: Company successfully tapped the international market and raised $1 billion through Reg- S bonds in one go.

KPI Global Infrastructure: Due to other pre-occupations, Raghavendra Rao Bondada, Independent Director has tendered his resignation from the board of directors.

Sharda Motor Industries: Exhaust Technology Private Limited becomes the joint venture company of Eberspaecher Exhaust Technology International GmbH and Sharda Motor Industries.

Greenply Industries: Company entered into an agreement for investment of Rs 1.80 crore (i.e. 30 percent) in the equity share capital of Nemani Panels Pvt. Ltd., (a newly incorporated company for setting-up a manufacturing unit of Plywood and allied products at Bareilly, U.P.) promoted by Bareilly Plyboards Pvt. Ltd. (an existing company manufacturing and selling Plywood and allied products).

IIFL Finance: IIFL Securities has allotted one fully paid up equity share of Rs 2 each of IIFL Securities for every one fully paid up equity shares of Rs 2 each held by shareholders of IIFL Finance (erstwhile IIFL Holdings Limited) and IIFL Wealth Management has allotted one fully paid up equity shares of Rs 2 each of IIFL Wealth Management for every seven fully paid up equity shares of Rs 2 each held by the shareholders of IIFL Finance on June 06, 2019.

IFCI: Company appointed Shri Rajesh Kumar Gupta, General Manager as Chief Risk Officer till March 31, 2021.

Edelweiss Financial Services: Subsidiary ECL Finance and flagship NBFC of Edelweiss Group and Bank of Baroda signed an agreement to form a strategic partnership to explore co-lending / co-origination opportunities.

Reliance Nippon Life Asset Management: Reliance Capital to sell 2.86 percent stake in company via offer for sale on June 13 and 14. The floor price of the sale shall be Rs 212 per equity share of the company.

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Tata Motors falls after weak UK sales by Jaguar Land Rover

Tata Motors shares fell 0.6 percent intraday on June 6 after Jaguar Land Rover reported weak UK sales in May.

The stock was quoting at Rs 172.70, down Rs 0.70, or 0.40 percent on the BSE, at 1058 hours IST.

The UK-based luxury car maker sold 8,978 units in May 2019, lower by 6.8 percent compared to 9,635 units sold in the same month last year dragged by both segments.

Jaguar sales dropped 5.2 percent year-on-year to 2,909 units and Land Rover sales fell 7.6 percent to 6,069 units in the month gone by.

Meanwhile, Tata Motors also reported a 26 percent decline in domestic sales to 40,155 units in May YoY.

Tata Motors commercial vehicles business sales in the domestic market in May 2019 stood at 29,329 units, registering a decline of 20 percent when compared to 36,806 units sold in the same month last year.

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Tata Motors slips 3% on dismal Q4 numbers; CLSA maintains sell

Shares of Tata Motors declined 3.6 percent in the early trade on May 21 after company reported weak set of numbers for the quarter ended March 2019.

The company has reported a 49 percent fall in its consolidated net profit at Rs 1,108 crore. The company had reported a profit of Rs 2,175 crore in a year ago period.

Revenue of the company declined to Rs 86,422 crore against Rs 89,928.97.

CLSA has maintained sell call on the stock with a target at Rs 150 per share

According to CLSA, the JLP outlook remains weak, while Indian business margin slipped QoQ despite higher volume.

JLR cut margin guidance range & cash flow outlook for FY21. The guidance cut underlines challenges of improving profitability.

It feels that India’s truck industry should also enter a downturn and cut FY20-21 eps estimates by 18-22%.

Morgan Stanley has equal-weight rating on the stock with a target at Rs 184 per share.

The pace of JLR recovery has been slower than we expected, while JLR EBIT margin will remain in 3-4% range over FY20-21, said Morgan Stanley.

Company guides for JLR FCF to remain negative for FY20 & FY21 and economic, political & technological risks keep us equal-weight, it added.

Citi has maintained buy rating on Tata Motors and cut target to Rs 220 from Rs 230 per share.

It feels that H1FY20 outlook is expected to remain muted. The JLR EBITDA of £696 million is 12% below estimates on higher material costs.

In China, inventory is still high at 1.8 months, despite volume cuts.

At 09:29 hrs Tata Motors was quoting at Rs 183.80, down Rs 6.20, or 3.26 percent on the BSE.

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Tata Motors Q4 preview: Revenue, profit likely to take a hit on decline in sales

Tata Motors, which is scheduled to post its Q4 numbers on May 20, is expected to reports a decline in its revenue on lower volumes.

Motilal Oswal estimates a 1.6 percent YoY decline in revenue (+16.6 percent QoQ), with EBITDA margin contracting 180 bps YoY to 10.1 percent.

The research firm expects JLR’s (including JV) volume to decline by 11.6 percent YoY (+14 percent QoQ), impacted by the slow demand and the deferment of purchases in China.

JLR’s EBITDA margin would contract 380 bps YoY (+240 bps QoQ) to 9.7 percent, said Motilal Oswal.

Motilal Oswal expects adjusted PAT to be at Rs 440 crore. The brokerage has cut FY 20/21 consolidated PAT by 23/19.5 percent. For JLR, Motilal Oswal has cut PAT estimates by 34/17 percent for FY 20/21.

According to Kotak Institutional Equities, standalone revenues are likely to decline 7 percent YoY due to 6 percent decline in volume and marginal decline in ASPs (lower mix of higher tonnage MHCV volumes).

JLR's UK P&L volumes will likely decline by 14 percent YoY (assuming 48,500 wholesale volumes in March 2019), Kotak said. It expects ASPs to decline 1 percent as benefit of GBP depreciation will likely be offset by weaker regional mix (lower China volumes).

Kotak is of the view that EBITDA margin is likely to deteriorate 310 bps YoY due to lower gross margins and high employee cost.

Net sales are likely to rise 5.1 percent QoQ, down 11.3 percent at Rs 80,936.5 crore. EBITDA of Tata Motors may rise 28.9 percent QoQ, down 28.5 percent

YoY to Rs 7,788.1 crore.

According to a CNBC-TV18 Poll, consolidated revenue is likely to be down 5.2 percent to Rs 86,491 crore against Rs 91,279 crore YoY. EBITDA may slip 16 percent at Rs 9,148 crore against Rs 10,894 crore. PAT may come at Rs 825 crore against reported PAT of Rs 2,125 crore.

JLR revenue may come lower by 5.7 percent at 7,117 million pounds against 7,555 million pound YoY while EBITDA may slip 35 percent at 663 million pound against 1,021 million pound, as per the poll. Tata Motors may report loss of 1 million pound against PAT of 400 million pound.

Key issues to watch

The current demand trends for JLR, and the outlook for key markets, updates on cost-cutting initiatives at JLR demand trend in domestic markets, new product launches and the impact of forex hedge loss.

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Stocks in the news: Tata Motors, BPCL, Cipla, Alkem Lab, Fortis Health, TRF

Here are the stocks that are in news today:

Results Today: BPCL, HPCL, Tata Motors, Alchemist, Bharat Forge, Celebrity Fashions, Dhampur Sugar Mills, Glaxosmithkline Pharmaceuticals, HEG, Indostar Capital Finance, Torrent Pharmaceuticals, NDTV, Simplex Projects, Kernex Microsystems, SREI Infrastructure Finance, Tata Motors DVR

Jet Airways - Robin Kamark, nominee director of Etihad Airways PJSC, resigned as director of the company with effect from May 16, 2019

Alkem Laboratories: USFDA issued 4 observations to company's manufacturing facility located at Baddi

TRF to sell stake in subsidiary company for Rs 167 crore

Reliance Capital Offers Nippon Life To Acquire Up To 42.88% Stake Held By Co

Torrent Pharma issued commercial paper for an amount of Rs 100 crore

Future Retail: CARE reaffirms A1+ rating to company's commercial papers and AA- to the NCDs

CARE Ratings has revised its rating to CARE BBB for long-term debt programme, market linked debentures and subordinated debt of Reliance Capital

ECL Finance closes NCD Tranche I Issue, successfully mobilises over Rs 3,000 million' by ECL Finance, subsidiary of Edelweiss Financial services

JK Cement board decided to raise fund by issue of secured/redeemable NCD in one of more series/tranches on private placement basis for an amount upto Rs 500 crore

Sundaram-Clayton inaugurates first overseas facility in USA at a project cost of Rs 630 crore (USD 90 million)

Fortis Healthcare subsidiry to sell 28.89% stake in Medical & Surgical Center to CIEL

Cipla: USFDA issued zero observation to its Indore facility after post-approval inspection

Narayana Hrudayalaya's board meeting on May 24 to consider Q4 results & proposal to raise money by means of issue of debt securities on private placement basis

Welspun Enterprises has received provisional completion certificate for commencing commercial operation of the Dewas Industrial Water Supply Project

IOC

A.K. Sharma Ceased to be director (Finance) of the company with immediate effect

Appointed Sandeep Kumar Gupta as CFO w.e.f May 18

Brickwork Rating India revises NCDs rating of DHFL from AA- to BBB+

Paramount Cosmetics' CFO and compliance officer Hansraj Rathor resigns

Gokaldas Exports Q4: Net profit at Rs 11.3 crore versus Rs 4.5 crore, revenue up 11.7% at Rs 326.3 crore versus Rs 292 crore, YoY

VRL Logistics Q4: Net profit up 70.8% at Rs 20.5 crore versus Rs 12 crore, revenue up 4.9% at Rs 513 crore versus Rs 489 crore, YoY

SPML Infra Q4: Net profit down 34.2% at Rs 12.8 crore versus Rs 19.5 crore, revenue down 26.3% at Rs 360.9 crore versus Rs 489.5 crore, YoY

Shaily Engg Q4: Net profit down 51.2% at Rs 3.5 crore versus Rs 7.2 crore, revenue down 15.4% at Rs 77.4 crore versus Rs 91.4 crore,YoY

Jubilant Life Sciences Q4: Loss at Rs 99.3 crore versus profit of Rs 154.9 crore. Revenue up 5.9% at Rs 2,385.6 core versus Rs 2,252 crore, YoY.

Lumax Auto Q4: Net profit up 11% at Rs 10.6 crore versus Rs 9.5 crore, revenue up 3.9% at Rs 301.4 crore versus Rs 290.1 crore, YoY

Engineers India Q4: Net profit up 37.7% at Rs 95 crore versus Rs 68.9 crore, revenue up 20.2% at Rs 612.6 crore versus Rs 509.7 crore, YoY

Inox Wind Q4: Net loss at Rs 53.6 crore versus loss of Rs 55.7 crore, revenue down 11.7% at Rs 179.6 crore versus Rs 203.4 crore, YoY

PI Industries Q4: Net profit up 18% at Rs 124.4 crore versus Rs 105.4 crore, revenue up 28.7% at Rs 804 crore versus Rs 625.1 crore, YoY

Thyrocare Q4: Net profit down 35.1% at Rs 16.3 crore versus Rs 25.2 crore, revenue up 9.2% at Rs 105.6 crore versus Rs 96.7 crore, YoY

Zen Labs Q4: Net profit at Rs 2.5 crore versus loss of Rs 1.6 crore, revenue up 68.2% at Rs 4.7 crore versus Rs 2.8 crore, YoY

Sobha Q4: Net profit up 73.2% at Rs 113 crore versus Rs 65.4 crore, revenue up 81.6% at Rs 1,397 crore versus Rs 769.6 crore, YoY

APL Apollo Tubes Q4: Consolidated net profit up 44.8% at Rs 61.7 crore versus Rs 42.6 crore, revenue up 37.8% at Rs 2,094 crore versus Rs 1,519.4 crore, YoY

Siyaram Silk Q4: Net profit down 2.7% at Rs 47 crore versus Rs 48 crore, revenue down at Rs 587.6 crore versus Rs 595.9 crore, YoY

Rushil decor Q4: Net Profit down 57.8% at Rs 3.8 crore versus Rs 9 crore, revenue down 1.7% at Rs 87 crore versus Rs 88 crore, YoY

Graphite India Q4: Consolidated net profit up 4.1% at Rs 562 crore versus Rs 540 crore, revenue up 28% at Rs 1,693 crore versus Rs 1,323 crore, YoY

JK Cement Q4 : Net profit up 55.6% at Rs 149.9 crore versus Rs 96.4 crore, revenue up 13.4% at Rs 1,491.9 crore versus Rs 1,315.9 crore, YoY

Khadim India Q4: Net profit down 88% at Rs 1 crore versus Rs 10.1 crore, revenue up 5.2% at Rs 206.6 crore versus Rs 196.3 crore, YoY

Kirloskar Oil Engines Q4: Net profit at Rs 92 crore versus Rs 44.3 crore, revenue up 5.3% at Rs 848 crore versus Rs 805 crore, YoY

Balkrishna Industries Q4: Net profit down at Rs 185 crore versus Rs 193.6 crore, revenue up at Rs 1,315 crore versus Rs 1,231 crore, YoY

Precision Wires India Q4: Net profit up 27.5% at Rs 10.2 crore versus Rs 8 crore, revenue up 6.4% at Rs 445 crore versus Rs 418.9 crore ,YoY

Shree Cements Q4: Net Profit down 19.6% at Rs 320 crore versus Rs 399.2 crore, revenue up 16.9% at Rs 3,284.8 crore versus Rs 2,811 crore, YoY

IMFA Q4: Net loss At Rs 73.8 crore versus profit of Rs 4.6 crore, revenue down 2.1% at Rs 434 crore versus Rs 443 crore, YoY

Kalyani Steels Q4: Net profit up 36.5% at Rs 40.8 crore versus Rs 29.9 cror, revenue down 9.9% at Rs 321.9 crore versus Rs 357.1 crore, YoY

Premier Explosives Q4: Net profit up 16.7% at Rs 2.8 crore versus Rs 2.4 crore, revenue down 29.7% at Rs 58.6 crore versus Rs 83.3 crore, YoY

Hind Rectifiers Q4: Net profit up 39.7% at Rs 4.9 crore versus Rs 3,5 crore, revenue up at Rs 83.9 crore versus Rs 54.3 crore, YoY

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Stocks in the news: Tata Motors, Hero MotoCorp, HUL, Orient Paper, Godrej Properties, Blue Star

Here are the stocks that are in news today:

Results Today: HUL, Century Textiles, Birla Corp, Godrej Consumer Products, L&T Technology Services, Tata Chemicals, Visaka Industries, VST Industries

Tata Motors total domestic sales for April 2019 declined by 20% at 42,577 units against 53,511 units, YoY

Hero Motocorp April auto sales

Total sales at 5.74 lakh units

Tata Motors April sales:

Total JLR US sales up 10% at 9,312 units

Total Jaguar US sales up 6.3% at 2,147 units

Total Land Rover US sales up 11.1% at 7,165 units

National Fertilisers Q4

Net Profit up 19.5% at Rs 81 crore versus Rs 67.7 crore

Revenue up 47% at Rs 3,088 crore versus Rs 2,099.7 crore

Sunteck Realty Q4

Net profit up 2.9% at Rs 63.4 crore versus Rs 61.6 crore

Revenue up 30.5% at Rs 269.7 crore versus Rs 206.7 crore

Tata Power Q4

Consolidated net profit down 95.5% at Rs 57.6 crore versus Rs 1,291.5 crore

Consolidated revenue at Rs 7,230.2 crore versus Rs 7,216.9 crore

L&T Infotech Q4

Net profit at Rs 378.9 crore versus Rs 375.5 crore

Rupee revenue up 0.5% at Rs 2,486 crore versus Rs 2,472.9 crore

Dollar revenue up 2% at USD 353.8 million versus USD 346.9 million

Orient Paper Q4 net profit jumped 105% to Rs 32.4 crore versus Rs 15.8 crore, YoY

Blue Star Q4 net profit at Rs 79.8 crore versus Rs 31.7 crore, revenue up 18.5% at Rs 1,595.8 crore versus Rs 1,346.3 crore, YoY

Laurus Labs Q4: Net profit down 4.2% at Rs 431 crore versus Rs 450 crore, revenue up 13.4% at Rs 635.1 crore versus Rs 560.2 crore, YoY

Godrej Properties purchases R.K. Studios' land in Chembur, Mumbai

Standard Life to sell 1.78% stake in HDFC Life Insurance on May 3 & May 5

IRCON International wins Railway work worth USD 91.27 million in Sri Lanka

Persistent Systems joins Siemens' MindSphere Partner Program to bring Industrial IoT solutions to market

DLF transferred its property, Mall of India, Noida to one of its subsidiaries, Paliwal Real Estate at an arms-length consideration of Rs 2,950 crore

Grasim Industries' brownfield expansion of 45 TPD Value Added Speciality Fibre capacity at Kharach in Gujarat has been fully commissioned from May 1 2019

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Source: Moneycontrol

Stocks in the news: Eicher Motors, Dr Lal PathLabs, Tata Motors, Godrej Properties, PVR

Here are stocks that are in the news today:

March Auto Sales:

Tata Motors

Total domestic sales up 16% at 68,709 units Vs 5,86,507 units, YoY

TVS Motor

Total sales at 3,25,345 units against 3,26,667 units (YoY)

Eicher Motors

Total sales down 20% at 60,831 units Vs 76,087 units

appoints Vinod K. Dasari as Chief Executive Officer of Royal Enfield

Hero MotoCorp

Total sales at 5,81,279 units

Karnataka Bank: Bank targets Rs 1,44,000 crore business turnover for FY20.

Cipla's wholly owned subsidiary in USA i.e. Cipla Technologies LLC, has signed a binding term sheet today with Pulmatrix Inc

Banswara Syntex: CRISIL has extended its rating in respect to the total bank loan facilities of the company - long-term rating at BBB/Stable and Short-Term Rating at A3+.

Elantas Beck India: Board appointed Srikumar Ramakrishnan as President of the Company, M Srikumar Ramakrishnan will be appointed as successor of M Ravindra Kumar, Managing Director in due course.

Reliance Industries

Digital Fibre Infrastructure Trust has acquired control of Jio Digital Fibre Private Limited (JDFPL) by purchasing 51% of the equity share capital of JDFPL for a consideration of Rs 262.65 crore

Tower Infrastructure Trust has acquired control of Reliance Jio Infratel Private Limited (RJIPL) by purchasing 51% of the equity share capital of RJIPL for a consideration of Rs 109.65 crore

Tata Power: Tata Power SED handed over indigenous combat management system to Indian Navy.

Moil has fixed/revised prices of different grades of Manganese Ore and other products, effective from 01.04.2019

Maruti Suzuki announced a price increase upto Rs 689 (Ex- Showroom - Delhi) across models on account of regulatory compliances.

M&M: Company set up armoured vehicle unit in Jordan.

Taneja Aerospace & Aviation: Company has received upgraded credit rating of C for its long term bank facilities and A4 for short term bank facilities from the credit rating agency, CARE Ratings Limited.

NMDC: lnspite of suspension of Donimalai Mine operations for 5 months, no exports upto August 2018, highest rainfall in Bailadila Sector and poor off take in Karnataka in 01, NMDC has produced 32.44 MT and sales of 32.38 MT iron ore during FY-19.

Cyient: Delivery of order worth $5 million delayed due to delay in regulatory clearances. "We see decline in January-March revenues due to order delay and see marginal QoQ growth of 1-2 percent in services."

IDBI Bank: Bank seeks transaction advisor for divestment of stake in IDBI Asset Management.

Godrej Properties: Company sold over 2,900 homes with a booking value in excess of Rs 2,100 crore in Q4 FY19

Gateway Distriparks: Company completed acquisition of entire stake held by Blackstone in arm for Rs 850 crore on March 29.

Bajaj Healthcare fixed April 10 as record date for the purpose of bonus shares

PVR: Company opened 4 screens multiplex at The Celebration Bazaar, Khanna in Punjab and 5 screens multiplex at City Centre Mall, Guwahati in Assam.

Centrum Capital: Company has sold its entire equity holding in its wholly-owned subsidiary company, Centrum Defence System Limited and Centrum Infrastructure Advisory Limited.

Aurobindo Pharma clarified that the value of the products recalled is not material, we have not intimated to stock exchanges

Dr Lal PathLabs: Company unit approved acquisition of Bawankar Pathology.

Jet Airways: DGCA approves summer schedule of company till April 25 - CNBC-TV18.

Zee Media Corporation promoter 25FPS Media sold 13.4 lakh shares on March 1 - CNBC-TV18

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Source: Moneycontrol

Tata Motors jumps 6% on expectations of improved financial results in Q4

Tata Motors shares rallied 5.6 percent in the morning trade on April 1 after the company said it expects improved financial results in March quarter.

The stock was one of the worst performers in last one year, falling 46 percent on JLR concerns. It was quoting at Rs 183.45, up Rs 9.15, or 5.25 percent on the BSE, at 0948 hours IST.

After disappointed by S&P's decision to downgrade Jaguar Land Rover, Tata Motors, on March 29, reaffirmed that it expects improved financial results in the fourth quarter period to March 31, 2019, compared to the first nine months of the financial year.

It also expects significant positive cashflow in the fourth quarter.

Jaguar Land Rover is continuing to execute its product plans and project charge turnaround strategy to deliver 2.5 billion pound of cashflow improvements by March 2020, Tata Motors said.

On March 28, S&P Global Ratings downgraded the credit rating of Tata Motors and its wholly-owned subsidiary Jaguar Land Rover (JLR).

The rating agency cited weakness in profitability of JLR as the main reason for downgrading credit rating of Tata Motors and its British arm.

S&P cut its rating on senior unsecured notes of JLR and Tata Motors to 'B+' from 'BB-'.

In addition, the Tata Group firm, on March 29, sold its shareholding in TAL to TASL at an enterprise value of Rs 625 crore for the aerospace business and acquired the non-aerospace business from TAL at a value of Rs 10 lakh.

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Source: Moneycontrol

Stocks in the News: Maruti Suzuki, Tata Motors, Cipla, Indoco Remedies, Welspun Corp, Embassy Office

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.

Wockhardt: India Ratings revised company's short-term ratings to IND A3 from IND A3+ & long-term loan facilities to IND BBB-.

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Source: Moneycontrol