DAILY STOCKS REPORT: 06.09.2012

[rupeedesk]

* AIA ENGINEERING: Has bought 30% in DCPL Foundries for 3 mln rupees.

* ANDRA BANK: Will reduce interest rates on home and car loans on Monday.

* DECCAN CHRONICLE HOLDINGS: Has sought bidders to sell its Indian Premier League cricket team Deccan Chargers. It will announce the top bidder's name on Sep 13, and give 95% of the sale proceeds to its lenders, and 5% to BCCI.

* EURO FINMART: Open offer to begin on Oct 18 for acquisition of up to 1.26 mln shares.

* DIVI'S LABORATORIES: Has denied rumours of promoters looking to sell stake

in the company to US' Pfizer.

* GMR INFRASTRUCTURE: The Airports Economic Regulatory Authority Appellate Tribunal refused to stay the hike in aeronautical tariff by Delhi International Airport --an arm of GMR Infrastructure.

* HI-TECH GEARS: Expects orders from new customers like BharatBenz to help it tide over the slowdown in the auto component sector.

* ICICI BANK: Plans to repatriate a large part of its capital from its UK arm as its business growth there has slowed significantly.

* IDBI BANK: Employees of the bank have called off a two-day nationwide strike scheduled on Sep 4 and Sep 5.

* INDIAN OVERSEAS BANK: Requires 226.40 bln rupees capital infusion to meet Basel III norms by Mar 31, 2018.

* INFOSYS: Its Business Process Outsourcing arm Infosys BPO is seeing a slew of resignations with Amity Kothiyal, head of multiple industry vertical, Michael wong, head of China operations, and Ayan Chakraborty, Phillipines country manager putting in their papers.

* JINDAL STEEL & POWER: CIC Energy Corp has received approval from shareholders and the Botswana Competition Authority for its proposed sale to Jindal Steel & Power.

* MAHANAGAR TELEPHONE NIGAM: Is exploring the possibility of the company's employees accepting lower pay to get the benefit of government pension.

* MARUTI SUZUKI INDIA : Plans to lower its net imports of automotive components to $400 mln by Mar 2015, from $1.7 bln now.

* PUNJAB NATIONAL BANK: Has received Insurance Regulatory and Development Authority's approval to buy 30% stake in MetLife India Insurance.

* RANE BRAKE LINING: Rane Group is likely to miss the 30-bln-rupee turnover target in 2012-13 (Apr-Mar) but expects to touch the same in two years.

* RICO AUTO INDUSTRIES: Expects around 14% earnings before interest, tax, depreciation and amortisation margin for 2012-13 (Apr-Mar).

* SANGHVI MOVERS: Plans to focus more on providing cranes on contract to aluminium, metro, and hydropower projects.

* SHOPPERS STOP: Plans to set up 22 new stores across India by 2014-15 (Apr-Mar), which will take its total store count to 75.

* SSPDL: Has entered into a pact with BHEL Employees Model Mutually Aided Co-operative House Building Society for development of 1,200 affordable independent residential houses in Hyderabad .

* RELIANCE INFRASTRUCTURE: Has formally announced its exit from the 51-bln-rupee Worli-Haji Ali sea-link project in Mumbai.

* STATE BANK OF INDIA : Apr-Aug loan growth at 200 bln rupees has lagged behind its same period deposit growth at 780 bln rupees.

* TATA TELESERVICES: Has appointed Kishor Chaukar as additional director and chairman of the company with effect from Wednesday.

* TRENT : Chennai-based private equity fund TVS Capital Fund to sell its 24% stake in Landmark, a pan India book and music retail chain to the retail company for around 1 bln rupees.

* VENUS POWER VENTURES: The company's board has approved issue of foreign currency convertible bonds, American depositary receipt, and global depositary receipt.

* VIDEOCON INDUSTRIES: Is mulling sale of its 10% stake in Mozambique 's Rovuma basin for $3 bln, and scrapping its plan to transport gas from Mozambique to India .

* WEST COAST PAPER MILLS: US-based International Paper is in talks to buy the company, in a deal valued at between 8-12 bln rupees.

By RUPEE DESK

rupe...@googlegroups.com