DAILY STOCKS ALERT: 15.06.2012

[rupeedesk]

DAILY STOCKS ALERT: 15.06.2012

* BHARTI AIRTEL: Has been asked to pay 7 bln rupees for evading customs duty under a Customs, Excise and Service Tax Appellate Tribunal order.

* COAL INDIA: Expects a hit of 60 bln rupees per annum on its revenue from next year as it cuts spot sales to accommodate sales to power producers.

* ELECON ENGINEERING: Has received two orders totalling 233 mln rupees.

* GODREJ CONSUMER PRODUCTS: Chairman Adi Godrej's younger daughter Nisa Godrej may take over from Managing Director A. Mahendran after his contract expires in a year.

* HOUSING DEVELOPMENT FINANCE CORP: Macquarie Capital Securities said the company overstated its profit by 38% and 24% in 2010-11 (Apr-Mar) and 2011-12, respectively.

* JAIPRAKASH ASSOCIATES: Aditya Birla Group and French cement company Lafarge are in talks to buyout the company's cement plants in Gujarat and Andhra Pradesh.

* MOSER BAER: Ealing Investments decreased stake in the company by 2.08%, selling 3.49 mln shares in the open market between Jun 1 and Jun 5.

* OIL INDIA: Source says company paid 1.75 bln rupees as advance tax for Apr-Jun against 1.65 bln rupees year ago.

* PURAVANKARA PROJECTS: Set up branch office in Saudi Arabia .

* RELIANCE CAPITAL: Is backing a merger between Grover Wineyards and Valle de Vin to create India 's second largest wine company, and will hold a stake in the combined entity Grover Zampa Wines.

* RELIANCE INDUSTRIES: Has reported a drop in gas output at the D6 block of the Krishna Godavari basin to 31.5 mscmd this month. Output in May stood at 32.66 mscmd.

* SHRISTI INFRASTRUCTURE DEVELOPMENT CORP: To build logistic hub in West Bengal .

* SURANA INDUSTRIES: Allotted 3.9 mln shares to IndiaSTAR on FCCB conversion.

* SUZLON ENERGY: Tanti Holdings pledged 10 mln shares of the company on Jun 6.

* TATA COMMUNICATIONS: Is in talks to buy a substantial stake in Chennai-based Prizm Payment Services, to expand its payment services business.

* TATA POWER CO: Has put on hold all new imported coal-based projects and has warned it would be a challenge for it to meet its target of a five-fold increase in generation capacity by 2017.a

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