STOCKS ALERT (29.08.2012)

[rupeedesk]

* ADITYA BIRLA NUVO: The company plans to rework its deal for a controlling stake in Pantaloons after the latter's Apr-Jun business was below estimates, which lowered its valuation.

* BIRLA CORP: Has announced lay-offs at Birlapur's Auto Trim Division due to lack of orders.

* DLF: Will take a final call on bidding for the title sponsorship of cricket tournament Indian Premier League only after tender for the new contract is floated.  Morgan Stanley has joined the race to buy the company's wind power business.

* ESCORTS: The company plans to increase the prices of its tractors from Sep 1 due to increase in the cost of raw materials such as steel.

 

* GMR INFRASTRUCTURE: To reduce its debt burden and infuse more liquidity in operations, the GMR Group is planning to sell stake in the company, and up to 49% stake in GMR Highways.

* GODREJ CONSUMER PRODUCTS: Expects its soaps operations to boost overall margin in 2012-13.

* FEDDERS LLOYD CORP: Has got a turnkey contract worth $18.58 mln from Power Holding Co of Nigeria .

* GLOBUS CONSTRUCTORS & DEVELOPERS: To merge Cumulative Investment with self.

* LAKSHMI VILAS BANK: Has denied a media report that the RBI had expressed concerns over its business practices and ability of the staff to monitor accounts diligently.

* MAWANA SUGARS: To issue shares worth 63 mln rupees on preferential basis to Usha International as part of a debt recast plan.

* OIL AND NATURAL GAS CORP: The company's latest discovery of crude oil pool at the D1 field near Mumbai High fields in the Western Offshore region is likely to start adding to its total output by early 2014.

* RAYMOND: Will open 50-80 The Raymond Shop and 30-40 made-to-measure outlets across the country's tier II-V towns by March.

* RELIANCE INDUSTRIES: Plans to build a 720,000 sq ft shopping mall in south Delhi at cost of 2.0-2.5 bln rupees. This is in line with the company's plan to invest heavily in real estate.

* SESA GOA: The Goa State Pollution Control Board has asked the company to stop all activity at its coke oven unit at Navelim due to protests by locals. The company will acquire Goa Energy from VIDEOCON INDUSTRIES and other shareholders for 537.2 mln rupees. 

* TATA SPONGE IRON: Promoter TATA STEEL has acquired 11.26% stake, or 1.73 mln shares, of the company through an open offer between Aug 7 and 9.

* TECH MAHINDRA: The company is in advanced talks to buy Bharti Group's value-added services solution providing arm Comviva Technologies for around 7.5 bln rupees.

By RUPEE DESK

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