STOCKS ALERT (31.07.2012)
rupeedesk
STOCKS ALERT (31.07.2012)
* ACROPETAL TECHNOLOGIES: Shareholders and creditors have approved merger of Kinfotech and Mindriver Information Technologies with co.
* ARVIND LTD: Arm Arvind Lifestyle is in talks to buy a large portfolio of retail assets, including Nautica stores, from Planet Retail.
* BHARTI AIRTEL: Is considering to issue new shares to the public or to institutional investors.
* DECCAN CHRONICLE HOLDINGS: Some promoters have pledged 14.46% of the company's equity with Religare Finvest.
* FUTURE CAPITAL HOLDINGS: Warburg Pincus LLC's open offer for 26% additional stake in the company has been delayed, pending regulatory approvals.
* JINDAL STAINLESS: The Supreme Court has asked Mahanadi Coalfields to supply 284,750 tn coal to JINDAL STAINLESS' 1.6-mln-tn steel plant in Odisha.
* JK TYRE & INDUSTRIES: Plans to buy rubber plantations in Malaysia , Thailand , and Indonesia as it wants to source at least 15% of its rubber requirement internally. Company has posted a net profit of 247.1 mln rupees for Apr-Jun as against 9.6 mln rupees year ago and 863.4 mln rupees a quarter ago.
* LARSEN & TOUBRO: Arm L&T General Insurance is seeking a merger partner in the medium term, though nothing has been finalised yet, as intense competition is hurting profits.
* LUPIN: And UNICHEM LABORATORIES, along with three others, have been charged by the European Antitrust Commission for blocking generic versions of perindopril, used to treat cardiovascular diseases.
* MARUTI SUZUKI INDIA : May sack all workers who were involved in the Jul 18 violence at the company's Manesar plant. Plans to increase the sales of diesel vehicles produced at its Gurgaon factory to make up for production losses at the Manesar plant.
* PFIZER: Company's US parent plans to invest 8 bln rupees in its Indian operations.
* PTC INDIA : Apr-Jun net profit 229.5 mln rupees, up 124% on year. Total income rose 55% on year to 601.90 mln rupees.
* RELIANCE CAPITAL: The Central Board of Trustees will on Saturday examine Reliance Capital Asset Management's 26% stake sale to Japan 's Nippon Life and its proposed change in ownership structure.
* RELIANCE POWER: Has officially signed an agreement for a $150-mln loan from Standard Chartered Bank for its Sasan mega power project in Uttar Pradesh.
* SHREE CEMENTS: The Competition Commission of India has imposed a penalty of 3.97 bln rupees on the company in a restrictive trade practice enquiry.
* SKF INDIA: Is cutting its capital spending by a third and also reducing production due to weak demand.
* SPICEJET: Rakesh Jhunjhunwala-owned Rare Enterprises bought 2.5 mln shares of SPICEJET at an average price of 30.77 rupees a share on Monday.
* ULTRATECH CEMENT: Has planned capital expenditure of more than $2 bln to add annual capacity of 10 mln tn by early 2013-14 (Apr-Mar).
* UNION BANK OF INDIA : To open 300 new branches and set up 800 ATMs across India by March 2013.
* WIPRO: Wipro Infotech has implemented core-banking solution for five co- operative banks under the National Agriculture Bank for Rural Development.
* ZEE ENTERTAINMENT ENTERPRISES: Life Insurance Corp of India sold 2.095% stake in the company for 2.75 bln rupees between Feb 22 and Jul 23.
| By RUPEE DESK |
| rupe...@googlegroups.com |