DAILY STOCKS ALERT: 11.10.2012

[rupeedesk]

* ANDHRA PRADESH PAPER MILLS: Supreme Court has extended until Oct 29 its stay on the Securities Appellate Tribunal order asking US-based International Paper Co to increase the open offer price for the company's shares.

* ASAHI INDIA GLASS: Plans to raise up to 2.75 bln rupees through a rights issue of shares.

* AXIS BANK: Has signed a pact with Tata AIG General Insurance under which the latter will offer general insurance products to the customers of the bank.

* COAL INDIA: Has been asked by the Prime Minister's Office to sign new fuel-supply agreements with power producers by November-end.

* EDSERV SOFTSYSTEMS: Has approved preferential allotment of 5 mln shares, warrants and convertible securities.

* FRESENIUS KABI ONCOLOGY: Promoter plans to sell up to 14.24 mln shares, equivalent to 9% stake, through the 'offer for sale' mechanism on Friday.

* INDIABULLS REAL ESTATE: Macquarie Bank has cut its stake in Indiabulls Real Estate to 2.82% from 3.17%.

* KINGFISHER AIRLINES: The Company has moved the booking timetable on its website to Oct 20, with a disclaimer warning that all flights are subject to regulatory approval.

* MAFATLAL INDUSTRIES: Has approved merger of its subsidiaries, Mafatlal Denim and Mishapar Investments, with itself.

* NMDC: Has said it will revise prices of iron ore every month instead of every quarter.

* PRIME FOCUS: Has approved issue of shares worth $35 mln to Standard Chartered Private Equity on preferential basis at up to 53 rupees each.

* Raymond: Will spend 250 mln rupees on opening 50 stores across 'The Raymond Shop' and 'Made-to-Measure' formats by March.

* SHREE RENUKA SUGARS: India Ratings has cut the company's rating outlook to negative.

* STERLITE INDUSTRIES ( India ): Will raise 5 bln rupees through 10-year bonds.

* SUZLON ENERGY: Will default on redemption of two zero coupon foreign currency convertible bonds of $220.8 mln due today after bondholders denied the company a four-month extension.

* TATA STEEL: Has invested 12 mln euro in new manufacturing facilities in IJmuiden in the Netherlands to enhance production of specialised corrosion resistant steel.

* TILAKNAGAR INDUSTRIES: Has launched a whisky under its Mansion House brand to expand its initiatives and gain market share in east India .

* UNITED BREWERIES (HOLDINGS): The Securities and Exchange Board of India is probing stock movement of the company, and other UB Group companies, over the last month to assess if there have been any securities law violations, including insider trading.

* UNITED SPIRITS: The National Stock Exchange has asked investors to offset their existing positions in derivatives contracts of the company's shares before taking fresh positions as the contracts have crossed 95% of the market-wide position limit.

* VAKRANGEE SOFTWARES: The SEBI has absolved the company and seven company directors on charges of violation of insider-trading norms and listing agreement.

* VALIANT COMMUNICATIONS: To move the Supreme court against a Delhi High court order in an income tax case.

By RUPEE DESK

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