Stocks in Action for the day: Tech Mah, Great Off, Sun Pharma

Tech Mahindra offers to merge with Satyam, in talks with Merrill Lynch for possible deal – ET

Great Offshore promoters pledge another 8 lakh shares (2.15% equity) with Bharti Shipyard (Bharti now holds 14.88% stake) open to great offshore open offer – DNA

Taro responds to Sun Pharma: Sun should join Taro in shareholder referendum for the deal. Sun should agree to standstill for 3 years if shareholders reject offer. Latest offer less than price stated by Sun & earlier rejected by Taro

DOT rejects Finance Ministry proposal to double 3G reserve price; says will affect auction

Jaipal reddy seeks more stimulus for realty sector; writes to PM
-Wants banks to lower interest rate on home loans from 9.25% to 7.5%; raise limit from Rs 20 lakh to Rs 30 lakh
-Seeks doubling of income tax rebate on home loan interest to Rs 3 lakh
-Wants income tax exemption on rental raised from 30 percent to 50%
-Wants restoration of Section 80 1B 10 income tax concession for real estate developers
-Wants banks to restructure loans to real estate players so that they can iron out asset liability mismatches

Ispat seeks second debt restructuring package with lenders – ET (Owes around Rs 6,000 crore to various financial institutions)

IDBI led consortium has asked GVK to look for alternative funding sources to bridge the gap of Rs 2,350 crore – ET

AV Birla Nuvo reviewing its garment export operations parked with Madura Garments – ET

Retail fuel prices may freed from government control: Montek Ahluwalia

HUL cuts Lifebuoy soap prices by 7-8%

Wockhardt in talks with LIC to issue Rs 250 crore of NCDs – Mint

BGR Energy raises Rs 2,100 crore for working capital expenses from 5 banks

Nirmal Kotecha, one of the promoters of Pyramid Saimira sold 6.5% stake between December 18-29 (Now holds 15.4%)

Selection of MNP operator likely only in February: Sources

Bharti to simultaneously launch 2G, 3G services in Sri Lanka on January 12: NW18

Eicher’s total sales in December fall 78% (YoY) to 502 units; up 13% (MoM)
Eicher’s HCV sales down 93% (YoY) to 30 units in December

IOL Netcom issues fully convertible debenture (FCD) to HT Media Ltd aggregating to Rs 7.5 crore

Diwan Housing Finance says
- Plan to raise Tier I capital in excess of Rs 150 crore before March 31
- In talks with PE players to raise capital
- Looking to enter into JV for other financial services business like asset management, insurance
- Cut home loan rates to 9.75% for loans upto Rs 20 lakh
- Cut home loan rates to 11.25% for other loans
ALERT: Home loan rate cut w.e.f January 1st week

Chem Fab Alkalies (Q3)
Net sales: Rs 20.69 crore versus Rs 26.42 crore (YoY)
Net Profit: Rs 2.2 crore versus Rs 3.36 crore (YoY)

Buyback of Nava Bharat opens today (Max price Rs 170)

Results Today: Prism Cement