FREE DAILY STOCKS ALERT: 24.08.2012

[rupeedesk]

FREE DAILY STOCKS ALERT: 24.08.2012

* ALLSEC TECHNOLOGIES: To buy 80% stake in the US 's Centigral for $64,000.

* ASHAPURA MINECHEM: Has said the government of Gujarat has given conditional permissions in favour of certain mine owners to resume bauxite sales.

* BRITANNIA INDUSTRIES: The Madras High Court has passed an interim order in favour of the company in a case filed against GLAXOSMITHKLINE CONSUMER HEALTHCARE over a biscuit brand.

* DLF: Is in advanced stages of talks to sell luxury hospitality business Amanresorts for around 19 bln rupees. The deal may be finalised next month.

* CIPLA: Life Insurance Corp of India sold 31.06 mln shares, or 3.87% stake, of the company between Sep 18, 2008, and Aug 21, 2012, for total 11.25 bln rupees at an average price of 362.16 rupees a share.

* GMR INFRASTRUCTURE: Arm GMR Hyderabad International Airport expects its passenger traffic this financial year to remain flat from a year ago because of slowdown in the aviation sector.

* HT MEDIA: Has hiked prices of its national daily Hindustan Times' Delhi weekday edition by 12.5% from Jul 27.

* HOUSING DEVELOPMENT FINANCE CORP: Has allotted 1.61 mln shares on conversion of warrants and exercise of stock options.

* ICICI BANK: Has launched 25 electronic branches across 18 locations for 24x7 customer transactions.

* IDBI BANK: Will scale up its medium-term-note programme size listed on the Singapore Stock Exchange to $2.5 bln-$3.0 bln by January from the current limit of $1.5 bln.

* IFCI: Cabinet has agreed to convert 9.2-bln-rupee debentures of the company held by the government into shares.

* JINDAL STEEL AND POWER: Has hiked stake in Gujarat NRE Coking Coal by 2.67% to 12.74% at an investment of 430 mln rupees.

* LARSEN & TOUBRO: Along with TATA STEEL, has pledged 51% stake of their joint venture Dhamra Port Co.

* MAHINDRA & MAHINDRA: Has cut its tractor sales growth forecast for the year ending March to 2% from 10%.

* MARUTI SUZUKI INDIA : Suzuki Motor Corp Chairman Osamu Suzuki is likely to meet Gujarat Chief Minister Narendra Modi today to discuss the progress of the company's upcoming factory in the state.

* NETWORK18 MEDIA & ENTERTAINMENT: Has agreed to sell part of its stake in BookMyShow.com to venture capital firm Accel Partners for an investment of 1 bln rupees.

* OIL AND NATURAL GAS CORP: The petroleum ministry has asked the company to scrap a tender meant to sell stake in four coal bed methane blocks.

* PANTALOON RETAIL ( INDIA ): Has passed a resolution by circulation for extending the financial period of the company by six months from Jun 30 to    Dec 31.

* PIRAMAL ENTERPRISES: Is eyeing more acquisitions to enhance its over-the-counter business.

* PRAJ INDUSTRIES: Has formed a subsidiary called Praj Far East Philippines in Makati City in the Philippines .

* RELIANCE INDUSTRIES: Arm Reliance Retail will extend the timings of some of its stores to boost sales.

* RELIANCE POWER: Has entered into a partnership with China Datang Corp for offering operation and maintenance services to power plants in India and overseas. Is planning to increase the capacity of its 4,000-MW Sasan Ultra Mega Power Project by 50% to almost 6,000 MW.

* SPECIALITY RESTAURANTS: Has opened a confectionary unit in Mumbai.

* STATE BANK OF INDIA : Chairman Pratip Chaudhuri has called for phasing out of cash reserve ratio of banks, saying it was acting as a tax on the banking system. Chaudhuri said concerns expressed over the rise in the bank's non-performing assets were "slightly overplayed” and that with "a little bit of consideration", many of the NPAs would become "standardized".

* SUNIL HITECH ENGINEERS: Has entered into a three-year agreement with Sagar Autocars for purchase of oil lubricants, fuels, and other related products for 25 mln rupees annually.

* TECH MAHINDRA: SATYAM COMPUTER SERVICES and TECH MAHINDRA will together launch an information technology solution centre at Kolkata in West Bengal to cater to the telecommunications sector.

By RUPEE DESK

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