FREE DAILY STOCKS ALERT: 13.09.2012

[rupeedesk]

* AIA ENGINEERING: Has raised foreign institutional investment limit in its equity shares and convertible debentures to 49% of its paid-up capital.

* BHARAT HEAVY ELECTRICALS: Is seeking power segment contracts on engineering, procurement, and construction basis to get higher margins.

* DECCAN CHRONICLE HOLDINGS: Preliminary findings from the forensic audit of the company conducted by Canara Bank indicate "discrepancies" in the manner in which it sourced funds, utilized resources. The Bombay High Court has put a temporary halt on any sale by the company of 16 properties located in Andhra Pradesh and Tamil Nadu. Private equity firm Peepul Capital is not interested in bidding for Indian Premier League franchise Deccan Chargers, but is eyeing the media business of Deccan Chronicle Holdings.

* GODREJ PROPERTIES: Has sold the entire phase I of its residential project, Godrej Summit, in Gurgaon.

* HDFC BANK: Has changed the rates on retail deposits for tenures ranging from six months and 17 days to five years by 25-50 basis points.

* HERO MOTOCORP: Will complete dropping the badge of its erstwhile joint venture partner Honda from all existing products this month, two years ahead of schedule.

* ICICI BANK: Has raised interest rates on deposits up to 45 days by 50-75 bps, and reduced rates on deposits of 91 days to five years by 50 bps.

* INFOSYS: Has implemented its TalentEdge platform for global talent solutions company Hudson Global Inc for an undisclosed amount.

* JAIPRAKASH ASSOCIATES: Has redeemed foreign currency convertible bonds worth $523.56 mln.

* JINDAL SAW: Has privately placed non-convertible debentures worth 1 bln rupees with YES Bank.

* JINDAL STEEL & POWER: The district collector of Angul has ordered an investigation into allegations the company is illegally drawing groundwater for its upcoming project.

* LARSEN & TOUBRO: Has received an order from ITER India to manufacture and install cryostat for a thermonuclear fusion reactor in Cadarche , France .

* MAHINDRA & MAHINDRA: Mahindra Reva Electric Vehicles will launch five electric cars, apart from the upcoming Reva NXR, by 2016.

* NEW DELHI TELEVISION: Has slashed close to 50 jobs as part of a resource rationalization exercise.

* NEYVELI LIGNITE CORP: Credit Suisse Securities and ICICI Securities are expected to be among the three merchant bankers selected to advise the government on the offer of sale of the company's shares.

* OIL INDIA: Has set aside 70 bln rupees for overseas acquisition of energy assets in 2012-13 (Apr-Mar).

* PHOENIX MILLS: Expects to complete three towers of its recently-launched residential project, One Bangalore West, in Bengaluru, by 2016.

* RELIANCE MEDIAWORKS: Has clarified that the company's exposure to its customer, Digital Domain Media Group, is 300 mln rupees, not 1.4 bln rupees as reported in some media reports.

* SIEMENS: Promoters Siemens AG and Siemens Diagnostic Holding II BV sold 4 mln shares, or nearly 2.2% stake in the company, in the open market on Wednesday.

* STATE BANK OF INDIA : Plans to hire 20,000 employees over the next one year.

* STEEL AUTHORITY OF INDIA : May raise its planned capital expenditure in the ongoing 12th Five-Year Plan (Apr 2012-Mar 2017) by 100-150 bln rupees from the current 450 bln rupees.

* SYMPHONY: Will focus on industrial and commercial air-cooler market in India . Aims at a topline growth of 59% in the current fiscal to 5 bln rupees.

* TVS MOTOR CO: Plans to launch at least three motorcycles over the next 15 months. The company plans to reduce its parts count by 40% over the next three years, as well as use fewer product platforms in a bid to reduce costs and bolster its bottomline.

* WELSPUN GLOBAL BRANDS: Promoters Krishiraj Trading and Welspun Mercantile voluntary open offer to acquire 13.8% stake in the company to open Sep 18 and close Oct 3.

* WIPRO: Arm Wipro Infotech has entered a long-term strategic partnership with Qatar Airways to build information technology solutions for the airline.

By RUPEE DESK

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