DAILY STOCKS ALERT: 28.08.2012

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STOCKS ALERT (28.08.2012)

* ALSTOM T&D INDIA : Is eyeing more grid projects to increase contribution to the group's grid sales revenue from 15% currently.

* BHARTI AIRTEL: Has tied up with Microsoft to sell the latter's office productivity suite to small and medium businesses in India .

* CAIRN INDIA: L&T Power Managing Director and Chief Executive Officer Ravi Uppal is set to join the company. He will succeed Rahul Dhir as chief executive officer.

* CIPLA: Is close to signing a 2.7-bln-rupee deal to buy space in Mumbai for its headquarters.

* DHANLAXMI BANK: Managing Director and Chief Executive Officer P.G. Jayakumar is facing the board's wrath for failing to disclose the Reserve Bank of India 's strictures against the bank's promoters.

* ESSAR OIL: Will raise $1.5 bln via external commercial borrowings to refinance its 80-bln-rupee loans.

* EURO FINMART: Alok Kumar Agarwal has made an open offer for 1.26 mln shares, or 26% stake, of the company at 30 rupees each.

* FEDERAL BANK: An investor has offered 8.5 mln shares of the bank for block sale Tuesday in the price band of 393.35-405.75 rupees each.

* GAIL ( INDIA ): Has signed a medium-term LNG supply agreement with France-based GDF SUEZ for supply of 12 cargoes totalling 0.8 mln tn.

* HCL INFOSYSTEMS: Lenovo is in talks to buy promoters' 50.77% stake in the company for around 5 bln rupees.

* HINDUSTHAN NATIONAL GLASS: Expects its Germany arm to turn profitable this year.

* INDIAN HOTELS CO: The consultant advising on the process of auctioning the Taj Mahal Hotel at Mansingh Road in New Delhi has recommended that the company, which currently operates the hotel, should be given the right of first refusal or option of matching the highest bid in an open option.

* INDIAN OIL CORP: ICRA has downgraded the outlook on the company's shares to "negative" saying gross under-recoveries could be as high as 1.7 trln rupees in 2012-13 (Apr-Mar).

* IND-SWIFT: Punjab National Bank has referred the company to the Corporate Debt Restructuring Cell to sort out loans aggregating 9 bln rupees.

* INFO EDGE: Has invested 350 mln rupees in Canvera Digital.

* ITC: Expects to maintain cigarette sales volume in 2012-13 at previous financial year's levels.

* JUBILANT LIFE SCIENCES: Is aiming compounded annual growth of 20% in revenues over the next three years and hopes to grow operating profit at a faster clip.

* KINGFISHER AIRLINES: GMR Hyderabad International Airport has filed a petition against the airline in the Hyderabad court for dishonouring cheques.

    -The Directorate General of Civil Aviation has sought assurance from the airline it would maintain its flight schedule.

* LARSEN & TOUBRO: Hopes to raise the contribution of its hydrocarbons segment to total order book to levels prevailing in 2009-10.

* MUTHOOT FINANCE: Has filed draft prospectus to raise 2.5 bln rupees through non-convertible debentures.

* PUNJAB NATIONAL BANK: Will not cut retail lending rates further unless cost of funds comes down.

* RELIANCE INDUSTRIES: Has shut one of the diesel hydrotreater units of its older refinery in Jamnagar for maintenance for two-and-a-half weeks.

* SATYAM COMPUTER SERVICES: The company's Indian employees got salary hike of around 7%, and its onsite employees got a 2% raise.

* SESA GOA: Goa villagers observed a daylong bandh Monday against the company's metallurgical coke plant. Villagers say the plant is polluting their surroundings.

* SPICEJET: Will start flights to China and Riyadh by October.

* TATA MOTORS: Has set aside 16 acre in Karnataka for a plant to manufacture combat vehicles.

* TATA STEEL: To raise 220-bln-rupee loans to fund its 6-mln-tn greenfield steel plant at Odisha.

* TORRENT POWER: The Uttar Pradesh state accountant general, in a report, has alleged irregularities in the appointment of the company as the power distribution franchisee for Agra .

* VIDEOCON INDUSTRIES: Will invest up to 10 bln rupees in its telecom business in Punjab .

* WIPRO: Will expand its existing facility at Salt Lake in Kolkata.

By RUPEE DESK

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