PRE-MARKET INDIAN STOCKS NEWS: Adani Power Ltd. (ADANI IS) secured Letter of Award from Maharashtra State Electricity Distribution Company Ltd for supply of 1,600MW from an upcoming ultra-supercritical thermal power project

Adani Power Ltd. (ADANI IS) - Co. received a Letter of Award from Maharashtra State Electricity Distribution Company Ltd to supply 1,600MW from an upcoming ultra-supercritical thermal power project. (ET)

Adani Total Gas Ltd. (ADGAS IS) - Co. reduced price of excess natural gas supplied to certain industrial customers to INR 82.95 per SCM from INR 119.90 per SCM, effective March 16. (ET)

Axis Bank Ltd. (AXB IS) - Co. directed by the National Consumer Disputes Redressal Commission to pay INR 31.9mln to a Delhi-based logistics firm for refusing to accept demonetised currency deposits in 2016. (ET)

Coal India Ltd. (COAL IS) - Co. said it aims to ensure electricity supply at a just price amid the West Asia crisis that threatens shipping routes and raises imported coal costs. (ET)

Hindalco Industries Ltd. (HNDL IS) - Co. suspended production of extruded aluminium and declared force majeure to customers on March 11 due to gas shortages linked to Middle East supply disruptions. (ET)

IDBI Bank Ltd. (IDBI IS) - Co. strategic divestment may be delayed as financial bids are below the government’s reserve price, potentially requiring cancellation and a fresh bidding process, ET reported. (ET)

JSW Steel Ltd. (JSTL IS) - Co. plans phased development of the Minas de RevuboA coking coal mine in Mozambique, which has 850MT of reserves and potential output of 250MT of usable coking coal. (ET)

Tata Motors Passenger Vehicles Ltd. (TMPV IS) - Co. 1.6mln shares worth INR 520mln were sold by investor Radhakishan Damani via a block deal, with Derive Trading and Resorts Private Ltd as buyer. (ET)