Top stocks in focus today: Axis Bank, Bank of Baroda, Bharti Airtel
Axis Bank: Bain Capital has taken a US$450mn bridge loanfrom JP Morgan & Chase to finance its multi-billion bet on the bank, sources said.
Bajaj Hindusthan Sugar: SBI CAP Trustee Co has sold 119.99 mln shares or 10.6% stake in the company.
Bank of Baroda: The All India Bank Employees’ Association and the All India Bank Officer Association have called for a strike on Dec 27.
Bank of India is seeking new bids for selling its stake in STCI Finance, as bids in the previous round were below its expectations.
Bharat Financial Inclusion has bought 0.36% stake or 500,000 shares of the company from Morgan Stanley Mauritius Co at 992.50 rupees per share, in a block deal on BSE.
Bharti Airtel: Societe Generale on Friday bought 3 mln shares or 0.075% stake in the company from Morgan Stanley France SAS at 527.25 rupees per share in a block deal on the BSE, according to information on the bourse.
The company and Reliance Jio Infocomm are venturing out of their core domain into the multi-billion-dollar cloud computing services market as part of the strategy to explore options to diversify revenue streams.
The company may have to pay a fine for the alleged violation of rules on using Aadhaar for its electronic know-your-customer verification process.
Shareholders of the Castrol India have approved the proposal for the issue of one bonus share for every one share held.
Cipla has received a tentative approval from US Food and Drug Administration for Darunavir Hydrate tablet.
Claris Lifesciences has approved a proposal to voluntarily delist shares from the BSE.
Container Corp of India will develop 1,000 acre of land for Integrated Logistics and Manufacturing zone at Machillpatnam in Andhra Pradesh.
Dish TV India: Ministry of Information and Broadcasting has approved the merger of Videocon D2H with the company.
The National Pharmaceutical Pricing Authority said the Fortis Healthcare’s hospital at Gurugram made a margin of as much as 343% on essential drugs when treating seven-year-old Adya Singh for dengue shock syndrome.
Gail India will enter into pacts with aluminum and steel majors in Odisha for supply of natural gas from Dec 2019.
Greenply Industries: Reliance Mutual Fund bought 0.81% stake or 990,000 shares of the company at 335 rupees apiece, in a bulk deal on BSE.
Hindustan Unilever: Private equity firm KKR is in exclusive talks to buy the company’s margarine and spreads business after outbidding other buyout firms, in a deal expected to top $7 bln.
HDFC is looking to raise funds that would be used to maintain its stake in HDFC BANK.
ICICI Bank has bought 8 mln shares or 0.1% stake in the bank from Morgan Stanley France SAS at 306.75 rupees per share in a block deal on the BSE.
Indiabulls Real Estate in alliance with Mandarin Oriental Hotel Group as hotel partner for its residential development in London’s Hanover Square.
Indian Hotels re-enters into its crown property, Taj Mansingh, may not be smooth though the company is gearing up for aggressive bidding in the New Delhi Municipal Council auction next month.
Ion Exchange India plans to increase exports, set up another unit to make resins at Ankleshwar, and an overseas assembly unit in Saudi Arabia.
The Supreme Court has granted the Jaiprakash Associates time till Jan 25 to deposit 1.25 bln rupees it was asked to deposit by Dec 31 in a plea by homebuyers against the company’s subsidiary Jaypee Infratech.
JC PMrojects (India) has won two orders for Rs7.9 bn.
JSW Holdings: The Reserve Bank of India notified that foreign portfolio investors can invest up to 49% of the paid-up capital in the company under the portfolio investment scheme, against a cap of 24% earlier.
L&T Infotech has completed acquisition of Syncordis SA, Luxembourg, along with subsidiaries Syncordis Support Services, Luxembourg, Syncordis Ltd UK and Syncordis SARL France.
The board of the M&M’s wholly-owned subsidiary SsangYong Motor Co will meet early 2018 to take a call on the latter’s entry in the US market.
Manappuram Finance MD and CEP VP Nandkumar raised his stake in the company to 28.43% from 28.39% earlier by purchasing 301,500 shares from the open market.
Motherson Sumi Systems to give the go-ahead for two new acquisitions, Chairman Sehgal said.
Petronet LNG has executed the final agreements to revise the pricing terms of its 20-year pact with an affiliate of ExxonMobil to import 1.44 mtpa of liquefied natural gas from the Gorgon LNG project in Australia.
PVR is scouting overseas destinations for expansion and plans to open its first project in Sri Lanka in next two years.
Raymond has launched 2.5-bln-rupee linen manufacturing plant at Amravati that will cater to company’s domestic and international markets.)
RComm and China Development Bank on Friday approached the National Company Law Tribunal in Mumbai for an adjournment of the latter’s insolvency petition till next month, amid talks they have begun negotiations for an out-of-court settlement.
Reliance Infrastructure unit that operates metro services in Mumbai has submitted a proposal under Scheme for Sustainable Structuring of Stressed Assets to its lenders to lower its debt exposure.
Siemens has expanded operations by opening 20 centres for digital customer applications in the industrial sector in around 50 locations in 17 countries worldwide.
Sintex Industries has said that the attachment of its properties by the Enforcement Directorate isn’t final, as investigation in this regard is still underway.
SBI: Carlyle Group has completed the acquisition of 26%, or GE Capital Group’s entire stake, in SBI Cards.
SAIL will start producing automotive steel in a US$1bln partnership with ArcelorMittal in three years.
Tata Teleservices (Maharashtra) to repay its debt before its maturity so that it can cut its finance cost and shut down its loss-making wireless telephony business.
Torrent Pharmaceuticals raised Rs10 bn rupees through the issuance of bonds maturing in eight years.
Wipro has announced a partnership with San-Francisco-based Headspin Inc to offer quality engineering and testing solutions on global mobile networks.