Monday, March 9, 2009

BOR: Stocks in action for the day: Sterlite, Infosys, Tata Steel, SpiceJet, Satyam, Adani & Unitech

Sterlite: R1:255.4, R2:260.5, R3:268.2, S1:242.6, S2:234.9, S3:229.8

Sterlite: -Signs new agreement to purchase operating assets of Asarco $1.7 billion -Purchase consideration comprises cash payment of $1.1 billion on closing -Sale price including non-interest bearing promissory note of $600 million payable over 9 years. Sterlite Says-Co has first right to match any counter bid on Asarco-Asarco deal to be EPS-accretive from first year at current copper prices -To fund Asarco acquisition through $2 billion cash on books
-Will take 4-5 months for Asarco deal to close

Tata Steel: R1:161.5, R2:166.3, R3:172, S1:15.4, S2:144, S3:139.2

Tata Steel February sales up 47% at 5.84 lakh tonnes

Infosys: R1:1254, R2:1289, R3:1340, S1:1167, S2:1116, S3:1081

Infosys Says: -Eyeing acquisitions in consulting, BPO space -Eyeing companies in Germany, France, Japan for buyout -Clients seeking 5-15% pricing discounts

SpiceJet: In action ahead of talks.

SpiceJet, Go Air in talks for consolidation

Satyam: R1:44.3, R2:46.5, R3:50.8, S1:37.8, S2:33.5, S3:31.3

Satyam to invite bids early this week

Adani: R1:251, R2:256, R3:262, S1:239, S2:233, S3:227.8

Adani, Torrent get GMDC’s coal block in Orissa.

Unitech: In action

Unitech: -Unitech Wireless & Telenor close deal: Luthra & Luthra -Alert: Telenor was to pick up 60% in Unitech Wireless for $1.2 billion


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