FREE STOCKS ALERT: 10.10.2012

[rupeedesk]

* DECCAN CHRONICLE: The Bombay High Court has extended the deadline for the company to furnish bank guarantees until Friday.

* DLF: Corporate Affairs Minister Moily has said the government has found no violations--but only technical offences--in business deals between the company and Robert Vadra. The company has denied allegations levelled by social activist Arvind Kejriwal that the company got undue favours from the Haryana government. 

* EVEREST KANTO CYLINDER: Will redeem all outstanding zero coupon convertible bonds today via internal accruals and rupee term loans.

* GTN INDUSTRIES: Operations at its yarn-processing unit have been restarted since Sunday.

* GUJARAT GAS: Open offer for 26% in the company will start on Nov 30 and end on Dec 13.

* ICICI BANK: RBI has levied a 3-mln-rupee penalty on the company for 'Know Your Customer' norms violation. Has acquired 5.36% stake in IL&FS ENGINEERING AND CONSTRUCTION on Oct 1 through corporate debt restructuring.

* INDIAN OIL: Along with BHARAT PETROLEUM CORP and HINDUSTAN PETROLEUM CORP is likely to have incurred under-recovery of 420 bln rupees on sale of diesel, kerosene, and domestic liquefied petroleum gas in the quarter ended September.

* ING VYSYA BANK: RBI has levied a 5.5 mln-rupees penalty on the bank for breach of 'Know Your Customer' norms.

* JAIPRAKASH ASSOCIATES: Ireland-based CRH has terminated negotiations to buy stake in its subsidiary Jaypee Cement Corp's operations in Gujarat .

* JYOTI LTD: Has received orders worth 697.5 mln rupees for water supply and irrigation schemes in Maharashtra, Gujarat , and Chhattisgarh.

* KINGFISHER AIRLINES: Directorate General of Civil Aviation has asked the company to discontinue ticket sales until all its issues related to cash flows and employee wages are resolved. The company will submit a funding plan to banks by the end of October, A.Krishna Kumar, managing director of STATE BANK OF INDIA , one of the lenders to the company, said.

* MAHANAGAR TELEPHONE NIGAM: The company and Bharat Sanchar Nigam will have to, on average pay around 106 bln rupees as one-time spectrum fee if the Cabinet approves the Empowered Group of Minister's recommendation.

* MAHINDRA & MAHINDRA FINANCIAL SERVICES: Has approved raising up to 9.25 bln rupees through qualified institutions placement.

* NIHAR INFO GLOBAL: Has received a work order from Paradip Port Trust for extension of the project Material Management System for another six months.

* NTPC: The government plans to sell 9.5% in the company, which could help it raise up to 130 bln rupees.

* PENINSULA LAND : Has entered into an agreement with HEM Bhattad to develop the latter's 19-acre property in Mumbai.

* POLARIS FINANCIAL TECHNOLOGY: SEBI has barred the company's head Arun Jain from trading in the securities market for two years for violation of insider trading norms.

* RELIANCE INDUSTRIES: Government is not convinced by the company's arguments blaming geological complexities for the fall in Krishna Godavari D6 block output to 26 mscmd. The company has dropped its plan for additional production wells at its two main gas fields Dhirubhai-1 and Dhirubhai-3 in D6 block.

    -The oil ministry has ruled out any increase in the price of natural gas from the company's KG-D6 block before 2014. The company led consortium may have to shut key gas producing fields in the KG-D6 block in 2015-16, Oil Secretary G.C. Chaturvedi said.

* RELIANCE POWER: Has raised external commercial borrowings worth $302 mln to fund its 100 MW solar power project in Rajasthan.

* STATE BANK OF INDIA : S. Visvanathan has been appointed as the managing director until April 2014.

* TATA ELXSI: Has exited its joint venture with US-based A Squared Entertainment LLC.

* TATA MOTORS: Labour union leaders for the company's UK arm voted in favour of a new two-year pay deal, which could result in a near 10% hike in wages for workers.

* TATA STEEL: Volume sales in the quarter-ended September rose 4.98% from the same period last year to 1.73 mln tn.

* TRANSGENE BIOTEK: Has proposed plan to delist from BSE aimed at protecting the company from any hostile takeover.

* TILAKNAGAR INDUSTRIES: Lenders have revoked their lien on 2.4 mln shares of the company pledged by promoters Amit Dahanukar and M.L. Dahanukar and Co Pvt Ltd.

By RUPEE DESK

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