DAILY STOCKS ALERT : 3.07.2012
rupeedesk
DAILY STOCKS ALERT : 3.07.2012
STOCKS ALERT (03.07.2012)
* ACC: Despatched 1.96 mln tn cement in June, higher than 1.91 mln tn a year ago, but lower than 2.05 mln tn in May.
* AMBUJA CEMENTS: Cement despatches in June rose 7% from a year ago to 1.79 mln tn, and production increased 8% to 1.78 mln tn.
* ASTRAZENECA PHARMA INDIA : Will collaborate with US' Cellworks Group to accelerate the treatment of drug-sensitive and resistant tuberculosis.
* BENGAL TEA & FABRICS: Strike at the company's Ahmedabad unit has been called off.
* COAL INDIA: Prime Minister's Office allows company to lower fuel supply commitment to 65%, but hikes penalty to up to 40% from 0.01% of value of coal in case of failure to meet supply obligation. Is game for a price-pooling mechanism, which will lead to increase in the average price charged by the miner, to ease the burden of growing imports by private power producers.
* DR REDDY'S LABORATORIES: Is working with Japanese joint venture partner Fuji film Corp to launch their first generic drug in Japan in 3-4 years.
* ELECON ENGINEERING: Has received a 1.04-bln-rupee order from BHARAT HEAVY ELECTRICALS.
* ELECTROTHERM INDIA: Deal to sell its ductile iron pipe business to France 's Saint Gobain has fallen through due to delay in statutory approvals.
* GRASIM INDUSTRIES: Has temporarily suspended operations at its staple fibre plant at Nagda in Madhya Pradesh due to shortage of water.
* GVK POWER: In talks with private equity players such as Macquarie SBI Infrastructure Fund, Morgan Stanley Infrastructure Partners, and JPMogran Asian Asian Infrastructure Fund to sell stake in airport business for 35 bln rupees.
* HERO MOTOCORP: Reported a 4.3% on-year rise in total June despatches to 534,091 units.
* HINDUSTAN OIL EXPLORATION: Eni SpA is keen on selling its holding in the company.
* ICICI BANK: To get $30 mln export credit line from Japan Bank for International Co-operation for financing renewable energy projects.
* JINDAL STEEL & POWER: Government probing irregularity in Sarda Mines ore supply to the company.
* JK TYRE & INDUSTRIES: Has raised prices of its commercial vehicle tyres by 1% from Jul 1 as a weak rupee has pushed up import prices of raw materials.
* KINGFISHER AIRLINES: ICICI BANK has sold loans to co worth 4.3 bln rupees to a fund run by SREI INFRASTRUCTURE FINANCE. Staff threatens strike from Friday if salaries and dues are not paid by Thursday night.
* METKORE ALLOYS & INDUSTRIES: Has signed a pact with US' Harsco Corp to set up a 200,000-tn-per-year metal recovery plant at its Tekkali unit.
* MAHANAGAR TELEPHONE NIGAM: Has got 1.17 bln rupees as tax refund for the assessment year 2004-05.
* NAGARJUNA AGRICHEM: Andhra Pollution Control Board has asked the company to shut its Srikakulam plant until further orders.
* NCL INDUSTRIES: To invest 1.5 bln rupees to set up 30 MW captive power plant.
* NMDC: Plans to hike prices or iron ore by up to 5%.
* RELIANCE CAPITAL: China Ming Yang Wind Power Group's arm Ming Yang Holdings ( Singapore ) will buy a "significant" stake in the company's arm Global Wind Power.
* SATHAVAHANA ISPAT: Has shut its Andhra Pradesh pig iron plant for 75 days for modernisation of blast furnace.
* SHIPPING CORP OF INDIA : Hikes freight rates to Europe . To end cargo operations to China due to falling cargo rates.
* TATA POWER CO: Is blending up to 70% of its fuel requirement at Mundra ultra mega power project with cheaper imported coal.
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