Stocks in the news: Tata Steel, PNB, Gitanjali, Natco Pharma, KPR Mills, Bhushan Steel, PVR

Here are stocks that are in news today:

Tata Steel-Bhushan Steel: Banking sources say
-Tata Steel emerges highest bidder for Bhushan Steel
-Tata Steel offered a package of over Rs 40,000 crore for Bhushan Steel
-Tata Steel’s offer for Bhushan Steel Rs 5,000 crore higher than JSW-Piramal consortium
-Tata's offer includes cash payment of Rs 35,200 crore to financial creditors
-Tata Steel’s offer includes Rs 1,200 crore to operational creditors
-Tata’s offer includes equity infusion, some working capital into Bhushan Steel
-Banks to take 27 percent haircut as per Tata Steel’s offer
-Committee of Creditors (CoC) to meet again to improve offer if necessary
-Tata Steel’s takeover plan for Bhushan Steel subject to National Company Law Tribunal (NCLT) clearing
Alert: Bhushan Steel has a debt of over Rs 45,000 crore
-Equity value of Bhushan Steel shares bound to be written down
-Details of Tata Steel’s package will be revealed to NCLT

PNB concall
-Bank is going through some problems which we will fix
-Problems were first detected in third week of January
-We immediately went to CBI & ED upon discovering the fraud
-This is a standalone case; only one branch has reported such a case
-We have scanned our other branches for problems
-We are looking at gaps in our existing controls, system & plugging them
-Banks has size & capacity to come out of the problem
-We are meeting all regulatory capital requirements; are sufficiently capitalised
-Total liabilities will depend on the outcome of the investigation
-All banks have been advised & given information on fraudulent practices of the 2 companies
-Banking community, government are all on board
-We will be able to come out of the situation in the shortest possible time
-We went to SEBI for disclosures as soon as the fraud was detected
-We are in process of fixing the problem, mitigating risks
-PNB has a lot of resources, non-core assets to get out of the problem
-Exact liability is not known, so far we are aware of approximately Rs 11,400 crore liability
-Nirav Modi Group & Gitanjali Group is included in this amount of USD 1.8 billion
-Rs 11,400 crore is the current outstanding, not including roll-overs from 2012
-PNB is breaching only net NPA parameter w.r.t PCA invocation
-PNB won't breach PCA criteria on capital even in worst case scenario
-Do not expect any major issue from other branches w.r.t Letter of Undertakings
-Have not received any advisory from RBI on the matter yet

Binani Industries-Binani Cement: Sources say
-Binani Industries moves NCLT, seeks to become party to sale of arm Binani Cement under Insolvency and Bankruptcy Code (IBC)
-Binani Industries wants to participate in evaluation of bids coming in for Binani Cement
-Binani Industries looks for its share of equity value from sale of Binani Cement by lenders
Alert
-Binani Cement being sold by lenders as part of insolvency proceedings
-UltraTech, Dalmia Bharat, JSW are key bidders for Binani Cement
-UltraTech, Dalmia tendered higher bids after lenders allowed rebidding
-Binani Industries declines to comment

PNB
-Clarifies to exchanges on the news: Government asks fraud hit PNB to conduct forensic audits
-"Bank hasn't received any instruction from government authority and hence can't comment"

Religare Enterprises
-To raise funds upto Rs 1,200 crore through issue of shares/convertible securities/debt
-Appointment of 3 board of directors

Other stocks and sectors that are in news today:
-UCO Bank has USD 412 million exposure in PNB banking fraud case
-Allahabad Bank discloses Rs 2,000 crore exposure in PNB fraud case
-EGM on 16 March 2018: CRISIL updates ratings of various bonds to "Rating watch with developing implications"
-South Indian Bank revises MCLR w.e.f. February 20
-KPR Mills to consider buy back of shares on February 22
-Natco Pharma says USFDA completes inspection of Mekaguda facility with Zero observations
-Infosys signs agreement to divest its entire investment from OnMobile Systems for USD 2,498,756
-PVR says ‘amicably resolved’ dispute with Elan Group over development of multiplexes in Gurugram
-SBI approved issue price at Rs 300.8 per share for preferential issue to the government
-ARSS Infra wins two work orders worth Rs 121 crore
-IOC to invest Rs 70,000 crore to expand refining capacity
-NTPC eyes 100 percent equity in some JVs with utilities
-ONGC Videsh to bid for Iran’s South Azadegan oilfield
-Fortis Healthcare, Religare Enterprises - Government has ordered a Serious Fraud Investigation Office probe: ToI
-PowerGrid emerges as lowest bidder for Rs 1,000 crore transmission project
-PNB looking to sell real estate assets: Sources