Welcome to StockBox Daily News Update podcast for 15th May 2018. Important corporate announcements published on 15th May 2018.
Acquisition - KOPRAN Limited acquired Maxheal Pharmaceuticals (India) Limited API Facility on slump sale basis at enterprise value of rupees 12.95 crores.
Credit Rating - TTK HEALTHCARE Limited - ICRA Limited, the Credit Rating Agency, has reaffirmed their rating for the various Working Capital facilities extended by the Banks.
Order Book - Deep Industries Limited has received Letter of Award of contract from Vedanta Limited for providing workover Rig DR06 for RJ-ON-90/1 block for primary period of 3 years. The total estimated value of the said Award is INR 47.78 Crores.
Monthly Report - VARDHMAN TEXTILES Limited reports monthly sales report - shows a drop in sale
Order Book - INDIAN HUME PIPE CO Limited have received Cancellation of Letter of Acceptance from Madhya Pradesh Jal Nigam intimating us that they have cancelled the aforesaid Letter in respect of Work Order of Rs.578.50 Crores due to discrepancies they have found in the bid process.
Fund Raising - JK LAKSHMI CEMENT LTD will consider obtaining of Shareholders omnibus approval for Issue of Securities up to rupees 500 Crore.
Fund Raising - SIMPLEX INFRASTRUCTURES Limited - Allotment of Convertible Equity Warrants on preferential basis to promoter group entities - Allocated 36,09,261 warrants @ INR 554.13 per warrant. Company already received upfront payment of Rupees 50 crores.
Order Book - Dilip Buildcon Limited has executed the concession agreement with the National Highways Authority of India (Ministry of Road Transport and Highways).
Order Book - Vascon Engineers Ltd has received Work Order amounting to Rs.70.53 Crores from Public Works Department, Chennai.
Order Book - OPTO CIRCUITS (INDIA) Limited Eurocor GMBH a wholly owned subsidiary of Opto Circuits signs an Agreement worth rupees 53 Cores with Biosensors EuropeSA for supply of products relating to Drug Eluting Balloons.
Product Update - JUBILANT LIFE SCIENCES LIMITED receives ANDA approval for Niacin Extended-Release Tablets USP.
Acquisition - NTPC has signed a MoU with GoB & Bihar power utilities for acquisition of 720 MW Barauni Thermal Power Station (BTPS), 27.36% equity of BSPGCL in Kanti Bijlee Utpadan Nigam Limited (KBUN) & 50% equity of BSPGCL in Nabinagar Power Generating Company Pvt. Limited (NPGC) which is developing 1980 MW Nabinagar Super Thermal Power Project in district Aurangabad, Bihar.
Acquisition - Cyient Limited has signed a definitive agreement to acquire the remaining 49% stake in its subsidiary, Cyient Insights Private Limited, to make it a wholly owned subsidiary at a price of US$ 515777.
Credit Rating - DWARIKESH SUGAR INDUSTRIES Limited ICRA Limited has reaffirmed the rating of '[ICRA]A1+' (pronounced ICRA A one plus) indicating very strong degree of safety for the commercial papers amounting to Rupees 300 crores.
Joint Venture - Mahindra & Mahindra Limited - EPC Industries Limited, a listed subsidiary of the Company ('EPC') that EPC has today entered into an Agreement, to form a Joint Venture Company in India ('NewCo') with Top Greenhouses Limited, Israel to provide solutions for Protected Cultivation Technology Products and subscribe/acquire up to 60% of the Share Capital of the NewCo with the remaining 40% proposed to be held by Top.
Credit Rating - DWARIKESH SUGAR INDUSTRIES Limited ICRA Limited has reaffirmed the rating of '[ICRA]A+' for the company's line of credit amounting to Rupees 649.99 crores for the long term ratings of company's line of credit with outlook of the company as stable.
Capital Expansion - Shree Pushkar Chemicals & Fertilisers Limited has acquired land aggregating to 40000 sq mtr at MIDC, Lote Parshuram, Ratnagiri, Maharashtra for future expansion purpose. The Company has already made necessary payments to MIDC.
Business Update - Allahabad Bank has decided that Usha Ananthasubramanian, MD & CEO be divested of all functional responsibilities of the Bank with immediate effect & Government of India, Ministry of Finance, Department of Financial Services.
Capital Expansion - SHREYAS SHIPPING & LOGISTICS Limited has signed a Memorandum of Agreement (MOA) for acquisition of one container vessel of about 2500 teus. The delivery of the vessel is expected by June 2018.
Bonus Issue - General Insurance Corporation of India to consider issue of bonus shares.
Business Update - MULTI COMMODITY EXCHANGE OF INDIA Limited - Crude Oil Options Make an Encouraging Debut on MCX with Rs. 101.67 Cr. Volume.
Business Update - Reliance Communications Limited and two of its subsidiaries Reliance Telecom Limited & Reliance Infratel Limited, await the detailed orders of the Hon’ble National Company Law Tribunal (NCLT), Mumbai, allowing the Ericsson application for admitting the companies to debt resolution under IBC. The Companies will decide the next course of action after studying the orders.
Credit Rating - Wockhardt Ltd revised the Company’s Rating for Long-Term Bank Facilities (Fund Based Working Capital limit) as “CARE A; Negative” from “CARE A+; Stable”; reaffirmed Company’s Rating for Short Term Bank Facilities (Non-Fund Based Working Capital limit) as "CARE A1”; and revised the Rating for the proposed issue of NCDs for an amount of Rupees 500 crore of the Company as “CARE A; Negative” from “CARE A+; Stable”.
Divestiture – Biocon Limited to sell 2% of Syngene International Limited in open market as promoter to achieve Minimum Public Shareholding as per SEBI guidelines. Market value as per today’s current market price is Rupees 256 crores.
Fund Raising - UNITED BANK OF INDIA allocates 1438176468 equity shares to Central Government of India to raise Rupees 2620 crores.
Restructuring - BHUSHAN STEEL Limited on May 18, 2018 or any date thereafter, shall consider preferential issue of equity shares as per resolution plan of Tata Steel Limited approved by the NCLT on May 15, 2018.
Buy back - Indiabulls Real Estate Limited on 18th May 2018 to consider the proposal of Buy-back of equity shares of the Company.
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