Daily Stocks Report (07.06.2012)

[rupeedesk]

Daily Stocks Report (07.06.2012)

STOCKS ALERT (07.06.2012)

* APOLLO HOSPITALS ENTERPRISE: Will buy out partner Imperial Hospital's stake in a Bengaluru-based hospital and research centre for around 1 bln rupees.

* BANK OF MAHARASHTRA : Is looking to tie up with a brokerage to provide its customers, who dematerialised accounts the facility of online share trading.

* BEML: The defence ministry has said it has not given the company permission to serve a legal notice to former Army chief General V.K. Singh.

* CADILA HEALTHCARE: US' Medicis Pharmaceutical has sued the company for violation of patent on acne medication Solodyn extended release tablets.

* COAL INDIA: Has informed power producers that it can assure only 60% of coal supply and would gradually reach 80% in the coming years.

* DLF: The Competition Appellate Tribunal has asked Competition Commission of India to specify the clauses in the agreement between DLF and Flat Buyers'
Association that allow the company to abuse its dominant position.

* GAYATRI PROJECTS: Is evaluating the option of diluting equity in its energy holding company Gayatri Energy Ventures.

* GVK POWER & INFRASTRUCTURE: Has received approval from Australia 's Queensland state government to develop a 495 km railway line from the
coal-producing Galilee Basin to Abbot Point.

* HERO MOTOCORP: Is seeking partners for products such as blended-fuel compatible engines, as it prepares to tap customers in Brazil and Kenya .

* JAMMU & KASHMIR BANK: Expects 25% growth in net profit to 10 bln rupees in 2012-13 (Apr-Mar).

* IDEA CELLULAR: Malaysia-based Axiata Group has approached the company to build a transnational tower company with operations across south-east Asian markets.

* L&T FINANCE HOLDINGS: The proposed compensation for the company's directors has been criticised by a proxy advisory firm, which has asked shareholders to vote against the plan in the upcoming shareholder meet.

* MAHINDRA & MAHINDRA: Has denied allegations of fraud levelled against the company and its US arm Mahindra USA Inc by some US automobile dealers. The company has said it will have to put off investments worth 40 bln rupees for a new plant if the government imposes a special additional tax on
diesel vehicles.

* MANGALORE REFINERY: Karnataka has given special incentives, including tax breaks and soft loans, for the third phase expansion of its refinery.

* MARUTI SUZUKI INDIA : Has cut production of its petrol cars due to a fall in demand following the sharp rise in the prices of the fuel.

* OMAX AUTOS: Has started commercial production at its new plant at Udham Singh Nagar in Uttarakhand. Sees 100-mln-rupee revenue from unit in FY13.

* ONGC: Is in talks with Japan-based Mitsui group for setting up a liquefied natural gas import terminal at Mangalore, as a part of its diversification plan.

* RELIANCE INDUSTRIES: The Central Bureau of Investigation has concluded its KG-D6 inquiry, and is seeking Comptroller Auditor General's opinion on
registering a case. The company is scouting for more shale gas assets in US, Poland , and Canada .

* S MOBILITY: Is mulling a minimum 10% price hike across products in a couple of weeks because of rupee's fall against the US dollar.

* STATE BANK OF INDIA : Has launched a personal loan scheme against property loans at interest rates lower than those of some of its private peers.

* TATA STEEL: Tata Steel Europe will get coal at less than half the market price from Benga coal project in Mozambique .

* UNITECH: Telenor is exploring an out0of-court settlement with the company before the 2G auctions.

* WEST COAST PAPER: Has decided to sell its newsprint unit.

By RUPEE DESK
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