· Satyam: R1: 41.6, R2: 42.9, R3: 43.9, S1: 39.3, S2: 38.3, S3: 37.
Satyam - -Satyam due diligence process begins, to continue till April 4; financial bids have to be submitted by April 9. -Spice Corporation - Sources Say: Decision on Satyam bidding expected today
· DLF: R1: 182, R2: 187, R3: 196, S1: 167.8, S2: 159, S3: 153.6.
DLF-DAL : -DLF may hold effective 30-40% in DAL post acquisition of DE Shaw's stake: DE Shaw had paid $400 million at 9% cap rate in April 2007 -Alert: DE Shaw holds compulsory convertible preference shares of DAL -DLF Assets will not be merged with DLF: -DLF-DAL merger unlikely as DAL a SEZ company developer: -In case of merger, tax benefits may not carry forward: Sources-DAL looking to close $450 million PE deal in April.-Fresh shares will be issued for PE investors: DLF enters into franchise agreement with high-end brand DKNY
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· Novartis: To trade on upper circuit.
Novartis to raise stake in Indian arm to 90% Swiss drug maker Novartis AG said on Wednesday it plans to raise its stake in its Indian subsidiary, Novartis India Ltd, from 50.9% to 90%, the maximum a foreign firm can hold in a listed subsidiary. The Basel-headquartered Novartis has offered a price of Rs351 per share to public investors who intend to tender their shares to the company. The total value of the offer is Rs440 crore.
· Sobha Developers: R1: 79.5, R2: 81.1, R3: 83.3, S1: 75.6, S2: 73.4, S3: 71.8
Sobha Developers gets nod from MFs to roll over Rs 350 crore worth debt.
· Tata Motors: R1: 164.5, R2: 168.7, R3: 173.4, S1: 155.6, S2: 150.9, S3: 146.7
S&P lowers rating of Tata Motors to 'B+' From 'BB-
· Reliance Infrastructure: R1: 551, R2: 564.6, R3: 587.6, S1: 514.6, S2: 491.6, S3: 478.1
Reliance Infrastructure defers Hyderabad Project by 6-8 months: ((Rs 8000 crore, 77 acre, 100 storey tower))
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