Tuesday, January 13, 2009

Stocks in news: Satyam, Tata Steel, NTPC, DLF

Indian ADRs: Wipro down 10%, Tata Motors down 8%, ICICI Bank down 7%, MTNL up 4%
Note: Satyam ADR down 84% after trading halt of 3 days.

Results today: Infosys, Motilal Oswal, CMC, Geojit

Satyam’s new board says
-Emphasis on continuity of business & services
-Government to nominate few more directors in next few days
-Chairman of the board to be decided only after board fully constituted
-May seek extension for publishing of Q3FY09 results
Satyam Saga:
-Kamal Nath says government willing to look at financing options for Satyam
-ICAI says decided that name of defaulter firm/partners to be made public
-Source says Satyam's receivable estimated Rs 2,500 crore: NW18

Revised time line for auction of 3G, BWA spectrum to be notified shortly: DoT
Moody's reviews Tata Steel's Ba1 rating for possible downgrade
RIL’s gas sale price likely today – TOI
Government says NTPC will buy gas at $4.2, which means the company stands to loose Rs 25,000 crore – DNA
DLF raises Rs 1700 crore from PNB and LIC to repay short term debt – HT
Dewan Housing frontrunner to buy IDBI Home Finance for Rs 311 crore – ET (Others like Religare and Tata Capital in the race)
Renault-Bajaj to go slow on low cost car – ET
Independent auditor to scan FT’s trading software to justify NSE putting the former on watch list – ET
Megasoft says no business with World Bank since 2004, no impact of ban
IDFC forms JV with BHEL and KPCL to set up supercritical thermal power projects in Karnataka
Tata Power signs MoU with Gujarat government to set up 5 MW geothermal & solar power plants
Selan Exploration buyback up to Rs 230/sh ((CMP Rs 122))
Electrosteel Castings board meet on January 19 to mull buyback of FCCBs

Source: Moneycontrol


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