DAILY STOCKS ALERT: 06.06.2012

[rupeedesk]

DAILY STOCKS ALERT: 06.06.2012

* ARVIND: Around 200 workers at the company's Naroda plant have been on strike since Monday demanding increase in wages, partially affected operations at the factory.

* ASTER SILICATES: Is in the final stage of signing a gas-supply agreement for Jaghadia unit; will start the unit soon.

* ATUL: Has denied reports of selling aromatics business.

* BRITANNIA INDUSTRIES: Is looking at all options to expand overseas.

* COAL INDIA: Has dropped plans of importing coal directly and will instead ask MSTC to import on its behalf if it is forced to import coal to meet its supply obligations.

* ELDER PHARMACEUTICALS: Has launched Zalain, a medicine used to treat fungal skin infections, in India , in association with Spain 's Ferrer.

* ESSAR OIL: Promoters plan to dilute their stake in the company to increase the liquidity of its shares on the bourses.

* GAIL INDIA : Sets a coupon of 9.14% for the eight-year bonds to raise 5 bln rupees.

* GMR INFRASTRUCTURE: Does not see improvement in the performance of its power generation units in the near term due to less availability of gas to run the plants.

* GUJARAT PIPAVAV PORT: Is planning capital expenditure of 10.97 bln rupees to expand the cargo handling capacity of its port at Pipavav in Gujarat .

* GVK POWER & INFRASTRUCTURE: The Company’s 548.50-bln-rupee Alpha coal project in Queensland in Australia is hanging fire because of a squabble between the federal and state environment ministries of that country.

* HINDUSTAN PETROLEUM CORP: Has expressed interest in setting up a 9-mln-tn unit at the site of the massive oil find at Barmer district in Rajasthan.

* HUBTOWN: Has launched a special payment plan for two Mumbai housing projects wherein homebuyers will have the option to pay 20% of the sale price upfront and the remaining at the time of possession.

* LANCO INFRATECH: Morgan Stanley Infrastructure Partners is in talks with the company to buy its 401 km of highway projects, in various stages of construction, which are up for sale.

* MAHINDRA & MAHINDRA: Together with Israel-based Rafael Advanced Defence Systems, plans to invest 1 bln rupees in a joint venture to be set up for naval defence systems business.

* MARUTI SUZUKI: Has cut production of models such as Alto, WagonR, Eeco and A-Star over the last few days by 8% of its monthly capacity.

* MIC ELECTRONICS: Has approved issues of shares, warrants on preferential basis to promoters and non-promoters.

* MULTI-COMMODITY EXCHANGE OF INDIA : Chief Executive Officer and Managing Director Lambertus Rutten is not extending his term, after it ends on Jun 30 due to personal reasons.

* NIPPO BATTERIES CO: Panasonic will exit the company by selling its 30.59% stake to one of Nippo's Indian promoters.

* ONGC: Is considering bidding for part of ConocoPhillips Canadian oil sands holdings worth around $5 bln.

* SUZLON ENERGY: Company's share in the Indian wind turbine market dropped to 35% in 2011-12 (Apr-Mar) from 41% in 2010-11.

* VOLTAS : Is stepping up its marketing expenditure to 4% of sales from 2-3% earlier

By RUPEE DESK
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