DAILY STOCKS ALERT: 27.07.2012

[rupeedesk]

DAILY STOCKS ALERT: 27.07.2012

* ADHUNIK METALIKS: And MONNET ISPAT & ENERGY have termed media reports on "cancellation" of their iron ore mining lease in Jharkhand as factually incorrect and said they did not have any such lease in the state.

* ACC: Has posted a 26% year-on-year increase in net profit at 4.14 bln rupees on the back of a 15% rise in net sales at 29.19 bln rupees.

* AFTEK: Has got approval from bondholders to revise the conversion price of its foreign currency convertible bonds from 75.20 rupees to 13.76 rupees and to extend maturity period from Jun 25, 2010, to Dec 21, 2012.

* BOSCH: Will suspend manufacturing operations at its Bengaluru unit during Jul 27-30, and Nashik plant during Jul 30-31, to avoid inventory build-up.

* COAL INDIA: May amend fuel supply agreements and accept to pay 5% penalty if supplies fall below the guaranteed 80% level.

* GMR INFRASTRUCTURE: Government of Maldives has asked the company to stop work on the new terminal at the Male airport following allegations the company "violated rules and regulations".

* LUPIN: It will spend around 5.5 bln rupees on capital expenditure in 2012-13 (Apr-Mar).

* MARUTI SUZUKI: Has decided not to de-recognise Maruti Suzuki Workers' Union of the Manesar unit.

* OIL & NATURAL GAS CORP: Has shortlisted 10 companies including Schlumberger, Petroleum Geo-Services, and CGG-Veritas for a seismic survey of 19,000 km of exploratory blocks.

* STATE BANK OF INDIA : Has raised $1.25 bln through a five-year overseas bond issue, having a coupon of 4.125% payable semi-annually.

* STERLITE INDUSTRIES: Apr-Jun consolidated net profit falls 27% on year to 12.01 bln rupees, net sales rises 7.8% on year to 105.91 bln rupees.

* TATA COMMUNICATIONS: Consolidated net loss narrowed to 1.43 bln rupees in Apr-Jun, from 2.15 bln rupees a year ago. Revenues rose 26% on year to 41.07 bln rupees.

* TATA STEEL: Standard & Poor's Ratings Services has cut the rating outlook on the company to negative from stable. Would eventually merge group companies, TINPLATE CO OF INDIA and TATA SPONGE IRON, with self.

* TATA TELESERVICES ( MAHARASHTRA ): Department of Telecommunications has sought the law ministry's opinion on whether the company's 19 telecom licenses should be scrapped in addition to the 122 licenses cancelled by the Supreme Court in February.

* WOCKHARDT: has completed sales of nutrition operations to Danone.

By RUPEE DESK

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