INDIAN STOCKS DAILY NEWS ALERT: 4.JUN.2012
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STOCKS ALERT (04.06.2012)
* ACC: The company's cement despatches grew to 2.05 mln tn in May from 1.99 mln tn a year ago but declined slightly from 2.07 mln tn in April.
* AKSH OPTIFIBRE: Has issued $1.20-mln foreign currency convertible bonds that will mature in 2013 to replace existing papers.
* AMBUJA CEMENTS: The company's cement despatches grew 12% from a year ago to 1.93 mln tn in May.
* ASHOK LEYLAND: Has sold a total of 8,648 vehicles in May, up 51% from a year ago. The company's UK arm Optare has shut down its bus factory at Blackburn .
* BHARAT FERTILISER INDUSTRIES: Plans to produce 60,000 tn super phosphate in 2012-13 (Apr-Mar) and is aiming for a turnover 750 mln rupees.
* BHARAT PETROLEUM CORP: Is likely to hold 49% stake in a joint venture agreement with UK-based LP Chemicals for petrochemical business.
* BHARATI SHIPYARD: Lenders have agreed to convert 10% of the company's 23-bln-rupee term loans into equity as part of a corporate debt-restructuring
package.
* COAL INDIA: The Children's Investment Fund, one of the company's shareholders, has said if the government failed to engage constructively on coal pricing issue, it would seek arbitration.
* FUTURE CAPITAL HOLDINGS: US-based private equity firm Warburg Pincus is likely to pick up a majority stake in the company for 6 bln rupees.
* GOLDEN TOBACCO: Investors Pranidhi Holdings and Pramod Jain have approached the Securities Appellate Tribunal against a recent SEBI order rejecting their request to withdraw from the unsolicited open offer to acquire 25% in the company.
* GMR INFRASTRUCTURE: The Comptroller and Auditor General has said that the company's Delhi International Airport flouted the development plan for the airport, and increased ground floor area.
* HERO MOTOCORP: Sold 556,644 vehicles in May, up 11.3% from a year ago.
* HIMACHAL FIBRES: Four investors and two promoters have made an open offer to acquire 26% stake in the company for 17.50 rupees per share. Offer opens Jul 18, and closes Jul 31.
* HINDALCO INDUSTRIES: Is planning to raise around 70 bln rupees for its Aditya Alumina and Aluminium project in Odisha.
* HINDUSTAN COPPER: Divestment department has initiated the process for taking a fresh approval from the Cabinet for divesting 10% stake in the company.
* JAIPRAKASH ASSOCIATES: Despatched 1.82 mln tn cement in May, up 33% from a year ago.
* JINDAL STAINLESS: Has approached lenders to reschedule repayments of its over 90-bln-rupee debt.
* JK PAPER: Has inked an in-principle agreement with Myanmar 's Paper and Home Utility Industries for technical know-how and production for a mill in Myanmar .
* LANCO INFRATECH: Is working out a strategic plan to ramp up production from its Griffin Coal Mines in Australia to 18 mln tn annually by 2017-18.
* LIFELINE DRUGS & PHARMA: The company's board of directors has approved a four-for-one bonus issue of shares.
* MAHINDRA & MAHINDRA: Mahindra Navistar, company's joint venture with US-based International Truck & Engine, has lined up 6-7 new products for 2012-13 (Apr-Mar).
* MARUTI SUZUKI: To build a car manufacturing facility in Gujarat with an initial phase-wise annual capacity of 250,000 units at an estimated investment of 40 bln rupees.
* MBL INFRASTRUCTURES: Has won five orders worth a total of 2.06 bln rupees.
* MPHASIS: The company's Feb-Apr net profit declined 13% from a year ago to 1.89 bln rupees while net sales rose 6% to 13.29 bln rupees.
* ONGC: Environment ministry has given its approval for creating the power evacuation facility of the upcoming 727-MW ONGC Tripura Power plant.
* POWER GRID CORP OF INDIA : Has approved five projects that will require total investment of 34.88 bln rupees.
* RELIANCE INDUSTRIES: Has agreed to sign agreements with Pragati Power and NTPC for supply of natural gas from its KG-D6 fields.
* SESA GOA: The company's largest institutional shareholder, Templeton, is opposing Vedanta Resources' plan to merge STERLITE INDUSTRIES INDIA with the company.
* SHIPPING CORP: Will not order any new ships in 2012-13.
* ULTRATECH CEMENT: The company's cement despatches rose 10.6% from a year ago to 3.59 mln tn in May.
* WIPRO: Has won a 10-year contract from Manipal Health Enterprises for implementation of hospital information system solutions and data migration
services.
* ZEN TECHNOLOGIES: Has decided to exit its gaming business following the dismal performance of its game SnS.
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