STOCKS ALERT (06.07.2012)
rupeedesk
STOCKS ALERT (06.07.2012)
* AVENTIS PHARMA: Has been renamed as Sanofi India .
* BALLARPUR INDUSTRIES: To transfer two paper units to a step-down subsidiary, which will be listed overseas.
* BANK OF INDIA : Cuts 2-10 year deposit rates by 20-25 bps.
* BHARAT ELECTRONICS: Has signed a joint venture with France-based Thales Air for Systems for radar business.
* COAL INDIA: The Prime Minister's Office is likely to discuss easing environment clearance norms for 13 projects of the company today. Offers 70 mln tn of pithead stock to power producers; STERLITE INDUSTRIES INDIA, ADANI POWER, and China Light and Power show interest in the offer.
* DR REDDY's LABORATORIES: Drops plans to develop generic of Novartis' anti-fungal skin treatment drug Lamfil.
* EICHER MOTORS: Joint venture with Volvo Group, VE Commercial Vehicles, gets order to supply 1,019 bus chassis to Gujarat State Road Transport Corp.
* EID PARRY INDIA : Planning to mortgage or charge some of its properties against funds raised through private placements and external commercial borrowings from IDBI Trusteeship Services and HSBC Bank ( Mauritius ).
* EROS INTERNATIONAL: Starts marketing film "Kochadaiyaan" starring Rajnikant.
* GEMINI COMMUNICATION: Files complaint against Midas Communications Technologies, alleging 300-mln-rupee fraud.
* GRASIM INDUSTRIES: Along with other group companies would buy Canada 's Terrace Bay Pulp Mill for an undisclosed amount. Various reports put the
acquisition cost at $300 mln
* GUJARAT PIPAVAV PORT : Has raised over 1.99 bln rupees through a qualified institutional placement of 34.23 mln shares at 58.45 rupees each.
* HINDUSTAN UNILEVER: Plans to hike salary of Chief Executive Officer and Managing Director Nitin Paranjpe by 60% from 2013-14 (Apr-Mar).
* HOUSING DEVELOPMENT FINANCE CORP: To raise at least 5 bln rupees via bonds maturing in one year and one day at 9.60%.
* INIA CEMENTS: Promoter Prince Holdings ( Madras ) has bought 2.47% more shares of the company for 653.60 mln rupees, raising its stake to 28.24%.
* JSW STEEL: Keen on bidding for iron ore mines, when the government starts auctioning them.
* KAVVERI TELECOM: Scouting for buys in in-building wireless solutions space.
* KINGFISHER AIRLINES: Lenders have given the ailing airline a fortnight to provide the valuation of the non-core assets the company wants to sell under a plan to improve operations. LKP Finance sold 2.16% stake in the company Jun 29-Jul 3.
* LANCO INFRATECH: Morgan Stanley in talks to acquire stake in company's thermal power business.
* MADHUCON PROJECTS: Plans to raise 22 bln rupees through various means, including 12-13 bln rupees from 12-13% stake sale in Madhucon Infra, which is a holding company for roads, build-operate-transfer, power and other projects.
* MARICO: Plans to acquire food products brands in South India and is in talks with two food companies.
* MULTI COMMODITY EXCHANGE: Is likely to get the final approval from the Securities and Exchange Board of India to launch its equity operations in the next couple of days.
* OIL AND NATURAL GAS CORP: To sell 35% stake in four of its coal-bed methane blocks.
* ORISSA SPONGE: MONNET ISPAT & ENERGY hikes open offer price to 370 rupees a share from 310 rupees a share earlier.
* RUCHI SOYA INDUSTRIES: Under government scrutiny for company's alleged role in price manipulation of futures trading of guar gum.
* SATYAM COMPUTER SYSTEMS: Eyes acquisitions in South and Central America and Eastern Europe .
* S MOBILITY: Approves sales of handset business to arm S Mobile .
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