Stocks in the news: NIIT Tech, Lakshmi Vilas Bank, HPL Electric, Muthoot Finance, Torrent Pharma –

Here are the stocks that are in news today:

Results on April 8Delta CorpHathway Bhawani Cabletel

Future Consumer: Board approved issuing of up to $10 million worth Compulsorily Convertible Debentures to Verlinvest SA, and Rs 250 crore worth to International Finance Corporation on a preferential basis. The board also approved issuing of warrants to promoter/promoter group entities, for an amount of Rs 70 crore on a preferential basis.

NIIT Technologies: Hulst BV along with the Baring Asia Private Equity Fund VII announced an open offer for acquisition of up to 1.62 crore equity shares (representing 26 percent of paid-up equity) from public shareholders of the company, at a price of Rs 1,394 per share, an aggregating total of Rs 2,262.34 crore. It is after Hulst & Baring acquired 30.20 percent stake in the company from NIIT Limited and company’s promoters on April 6.

Lakshmi Vilas Bank: Bank approved the merger with Indiabulls Housing Finance.

Century Textiles: Company launched real estate project viz. Birla Vanya near Kalyan, Maharashtra.

Vanta Bioscience: Company through its subsidiary, Vayam Research Solutions, signs CRO Service Agreement of Rs 29 crore with Emcure Pharmaceuticals.

GE Power India: Company appointed Prashant Jain as Additional Director and Managing Director.

HPL Electric: Company issued Commercial Papers of Rs 150 crore.

Infosys opens new Infosys in Baden, Switzerland

RBL Bank board meeting on April 18 to consider Q4 results, fund raising and to recommend dividend

Muthoot Finance: Company declared an interim dividend for FY 2019 at the rate of Rs 12 per equity share.

Kernex Microsystems (India): Company received a Show Cause Notice from Directorate General of GST Intelligence Hyderabad Zonal Unit.

Eris Lifesciences: Company executed a share purchase agreement with one of the founders and promoters to take full ownership of the subsidiary.

India Nippon Electricals: Company declared the second interim dividend at Rs 4 per equity share for the year 2018-19.

Torrent Pharma: Company’s Dahej plant receives certain observations from USFDA.

Khaitan India: Company appointed Swapan Kumar Das as the chief financial officer (CFO).

Lumax Industries: Company acquired assets for manufacturing of PCB’s for Rs 22.45 crore from Lumax Auto Technologies.

Reliance Infrastructure: Company appointed Punit Garg as executive director and chief executive officer (CEO).

United Nilgiri Tea Estates: Company’s director N. Srinivasan resigned.

Cadila Healthcare: Zydus received tentative approval from the USFDA for Tofacitinib tablets.

Edelweiss Financial Services: ICRA re-affirmed A1+ rating to the commercial paper programme of Rs 6,350 crore and short-term NCDs of Rs 100 crore. It also re-affirmed the credit rating of AA to the NCDs of Rs 466 crore.

Texmaco Rail & Engineering: NCLT approved scheme amalgamation of Texmaco Hitech, Bright Power projects with the company

Bank of Baroda: Post amalgamation of Vijaya Bank and Dena Bank with BoB, the Government of India’s stake increased to 65.37 percent

Setco Automotive board meet on April 10 to consider offer by Lingotes Especiales S.S. for sale of its entire stake in company’s subsidiary Lava Cast

JSW Steel: Fitch Ratings assigned BB(EXP) ratings to company’s proposed issue of the US dollar senior notes, while Moody’s has assigned Ba2 rating

Analyst or Board Meet/Briefings

Hathway Cable & Datacom: Company will announce its March quarter earnings on April 15.

TRF: Company will announce its March quarter earnings on April 15.

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