FREE STOCKS ALERT: 16.10.2012

[rupeedesk]

* ADANI PORTS AND SPECIAL ECONOMIC ZONE: The government will cancel the group's 1,840-hectare special economic zone in Mundra, Gujarat , for alleged violation of laws.

* ALOK INDUSTRIES: Promoter Jiwrajka pledged 33.3 mln shares of the company on Oct 5.

* AXIS BANK: Has posted net profit of 11.23 bln rupees for Jul-Sep, in line with estimates, compared with 9.20 bln rupees a year ago.

* A2Z MAINTENANCE: Rakesh Jhunjhunwala resigns from post of director.

* BHARAT PETROLEUM CORP: Plans to raise up to $500 mln through its first-ever dollar-denominated bonds in the next few days.

* CLARIS LIFESCIENCES: Japanese firm Mitsui is in talks to invest 2.5 bln rupees in the company.

* CMC: Has posted a 48.6% sequential rise in net profit for Jul-Sep at 647.59 mln rupees mainly on account of other income of 287.36 mln rupees.

* DECCAN CHRONICLE: Corporate Affairs Minister Veerappa Moily has said a government panel is probing the company's books. CANARA BANK, which has been asked to conduct forensic audit of the company's books, has roped in Deloitte for the same.

* FUTURE VENTURES: Belgium-based investment fund Verlinvest SA has acquired around 10% stake in the company for about 1.1-1.3 bln rupees.

* GHCL: SEBI has fined the managing director and executive director-finance 100,000 rupees for violation of norms regarding Prohibition of Fraudulent and Unfair Trade Practices.

* HERO MOTOCORP: Workers at the company's Gurgaon plant are pushing for a wage hike similar to the one given by MARUTI SUZUKI.

* INDIAN OIL CORP: Nigerian government wants the company to build a $5-bln refinery in Bayelsa.

* KARNATAKA BANK: ICICI BANK has submitted a formal proposal to the RBI to acquire the bank.

* KINGFISHER AIRLINES: Employees of the airline have received notices from the Income Tax department asking them to clear their tax liabilities. Civil Aviation Minister Ajit Singh has asked the Directorate General of Civil Aviation to look into the legal implications of cancelling or suspending the airline's licence.

* NAVIN FLUORINE: To pay 7.5 rupees a share interim dividend.

* OIL INDIA: The company's plan to acquire stake in French oil explorer Maurel and Prome SA's Gabon block hits valuation hurdles.

* PERSISTENT SYSTEMS: Has inked a pact with RAGE Frameworks to enable the latter's clients to automate their business processes.

* RELIANCE INDUSTRIES: Reported 6% on-year fall in Jul-Sep net profit at 53.76 bln rupees, in line with estimates. Turnover of 903.35 bln rupees for Jul-Sep, up 15%, was below estimates.

* RELIANCE POWER: The US Export Import Bank is inquiring safety, resettlement, environmental issues of the company's Sasan power project.

* SATYAM COMPUTER SERVICES: Has tied up with a Dehradun-based university to facilitate joint research and development projects.

* SHRIRAM TRANSPORT FINANCE: Plans to foray into gold loan business.

* TATA MOTORS: Global despatches in September declined 4% on year to 103,656 vehicles due to weak performance of its UK subsidiary Jaguar Land Rover.

* TILAKNAGAR INDUSTRIES: Has obtained interim relief from the court restraining Rhizome Distilleries from selling and disposing off its assets for non-payment of dues.

* TV18 BROADCAST: Franklin Templeton Mutual Fund sold 2.5 mln shares of the company in the open market on Oct 12.

* USG TECH SOLUTIONS: To issue 3.46 mln shares at 13 rupees a share to RIS Group on preferential basis.

* VAX HOUSING FINANCE: To raise $160 mln through global depositary receipts, American depositary receipts, and foreign currency convertible bonds.

By RUPEE DESK

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