DAILY STOCKS ALERT: 05.06.2012

[rupeedesk]

DAILY STOCKS ALERT: 05.06.2012

* ABBOTT INDIA: Has opened its first nutrition research and development centre in the country, in collaboration with BIOCON subsidiary Syngene.

* BAJAJ AUTO: Workers have decided to go slow on production at the Pantnagar plant until discussions with the management over salary hikes came to a satisfactory conclusion. The company's plant in Uttarakhand was hit by workers' strike on Monday over salary hikes, bringing production down by 50% for the day.

* COAL INDIA: Has asked its subsidiaries to sign fuel supply agreements with power units that are coming up between January 2012 and March 2015.

* CSS TECHNERGY: Has bagged a contract for managed service provider for demographic data digitisation in Punjab and Uttar Pradesh.

* EIH ASSOCIATED HOTELS: To raise 1.1 bln rupees by issuing equity shares on rights basis to existing shareholders.

* HERO MOTOCORP: Plans 25.75-bln-rupee investment over the next 16 months to set up two new factories, a research and development centre and expand exiting units. Has approved the merger of Hero Group's investment arm--Hero Investment--with self.

* HINDUSTAN COPPER: Has raised price of cut and full copper cathodes by 3,594 rupees per tn, to 468,297 rupees and 466,797 rupees, respectively.

* INDRAPRASTHA GAS: Petroleum and Natural Gas Board is likely to move the Supreme Court against the Delhi High Court ruling in favour of Indraprastha Gas over tariff regulation.

* INSECTICIDES INDIA : Has proposed to dilute promoter stake by 7-8% for raising 1 bln rupees to part-finance its expansion and acquisition plans.

* ITC: Will increase prices of some food products due to the depreciating rupee.

* KPIT CUMMINS: Hybrid car Revolo, being developed by the company and BHARAT FORGE, may soon undergo customer trials before its commercial launch a year later.

* PRISM INFORMATICS: Company's wholly owned subsidiary will buy 20.01% more stake in Idhasoft from majority shareholder Glyce Gibson by Jul 1.

* PIRAMAL HEALTHCARE: Has set up a mergers and acquisitions team to buy pharmaceutical companies.

* POWER FINANCE CORP: Has deferred its plan to raise $1 bln through overseas medium-term notes till Jul-Sep.

* PUNJAB NATIONAL BANK: Has reworked its agreement to buy 30% stake in MetLife Insurance.

* RELIANCE INDUSTRIES: Reliance Brands, a unit of Reliance Industries, has announced a joint venture with US-based Brooks Brothers to set up shops in India .

* TATA CONSULTANCY SERVICES: Has already made campus offers to 43,604 students in 2012-13 (Apr-Mar).

* VARUN INDUSTRIES: Banks are set to restructure company's loans amounting 16 bln rupees.