STOCKS ALERT (28.08.2012)
* ALSTOM T&D INDIA : Is eyeing more grid projects to increase contribution
to the group's grid sales revenue from 15% currently.
* BHARTI AIRTEL: Has tied up with Microsoft to sell the latter's office
productivity suite to small and medium businesses in India .
* CAIRN INDIA: L&T Power Managing Director and Chief Executive Officer Ravi
Uppal is set to join the company. He will succeed Rahul Dhir as chief
executive officer.
* CIPLA: Is close to signing a 2.7-bln-rupee deal to buy space in Mumbai
for its headquarters.
* DHANLAXMI BANK: Managing Director and Chief Executive Officer P.G.
Jayakumar is facing the board's wrath for failing to disclose the Reserve
Bank of India 's strictures against the bank's promoters.
* ESSAR OIL: Will raise $1.5 bln via external commercial borrowings to
refinance its 80-bln-rupee loans.
* EURO FINMART: Alok Kumar Agarwal has made an open offer for 1.26 mln
shares, or 26% stake, of the company at 30 rupees each.
* FEDERAL BANK: An investor has offered 8.5 mln shares of the bank for
block sale Tuesday in the price band of 393.35-405.75 rupees each.
* GAIL ( INDIA ): Has signed a medium-term LNG supply agreement with
France-based GDF SUEZ for supply of 12 cargoes totalling 0.8 mln tn.
* HCL INFOSYSTEMS: Lenovo is in talks to buy promoters' 50.77% stake in the
company for around 5 bln rupees.
* HINDUSTHAN NATIONAL GLASS: Expects its Germany arm to turn profitable
this year.
* INDIAN HOTELS CO: The consultant advising on the process of auctioning
the Taj Mahal Hotel at Mansingh Road in New Delhi has recommended that
the company, which currently operates the hotel, should be given the right
of first refusal or option of matching the highest bid in an open option.
* INDIAN OIL CORP: ICRA has downgraded the outlook on the company's shares
to "negative" saying gross under-recoveries could be as high as 1.7 trln
rupees in 2012-13 (Apr-Mar).
* IND-SWIFT: Punjab National Bank has referred the company to the Corporate
Debt Restructuring Cell to sort out loans aggregating 9 bln rupees.
* INFO EDGE: Has invested 350 mln rupees in Canvera Digital.
* ITC: Expects to maintain cigarette sales volume in 2012-13 at previous
financial year's levels.
* JUBILANT LIFE SCIENCES: Is aiming compounded annual growth of 20% in
revenues over the next three years and hopes to grow operating profit at a
faster clip.
* KINGFISHER AIRLINES: GMR Hyderabad International Airport has filed a
petition against the airline in the Hyderabad court for dishonouring
cheques.
-The Directorate General of Civil Aviation has sought assurance from
the airline it would maintain its flight schedule.
* LARSEN & TOUBRO: Hopes to raise the contribution of its hydrocarbons
segment to total order book to levels prevailing in 2009-10.
* MUTHOOT FINANCE: Has filed draft prospectus to raise 2.5 bln rupees
through non-convertible debentures.
* PUNJAB NATIONAL BANK: Will not cut retail lending rates further unless
cost of funds comes down.
* RELIANCE INDUSTRIES: Has shut one of the diesel hydrotreater units of its
older refinery in Jamnagar for maintenance for two-and-a-half weeks.
* SATYAM COMPUTER SERVICES: The company's Indian employees got salary hike
of around 7%, and its onsite employees got a 2% raise.
* SESA GOA: Goa villagers observed a daylong bandh Monday against the
company's metallurgical coke plant. Villagers say the plant is polluting
their surroundings.
* SPICEJET: Will start flights to China and Riyadh by October.
* TATA MOTORS: Has set aside 16 acre in Karnataka for a plant to
manufacture combat vehicles.
* TATA STEEL: To raise 220-bln-rupee loans to fund its 6-mln-tn greenfield
steel plant at Odisha.
* TORRENT POWER: The Uttar Pradesh state accountant general, in a report,
has alleged irregularities in the appointment of the company as the power
distribution franchisee for Agra .
* VIDEOCON INDUSTRIES: Will invest up to 10 bln rupees in its telecom
business in Punjab .
* WIPRO: Will expand its existing facility at Salt Lake in Kolkata.
By RUPEE DESK [email protected]
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