Tuesday, March 31, 2009

Stock in News: Tata Power, Alok Industries, Kinetic Engineering & Nahar Industrial

Steel companies gearing up for aggressive input cost price cuts, companies negotiating for 70% cut, final deal likely by April end.

Tea prices are at record high on fears of crop shortage both in India and Sri Lanka.
Tata Power’s electronics division bags Rs 182.5 crore order from Bharat Electronics
Alok Industries rights issue opens today; price Rs 11 in ratio of 83:40
Sadbhav Engineering board approves rights issue up to Rs 125 cr
Kinetic Engineering board approves issue of 1.14 lakh shares @ Rs 156 to promoter group co Micro Age Instruments on preferential basis (CMP Rs 38)
NIIT bags Rs 21.4 crore contract to provide computer education in 1672 schools in Rajasthan
Nahar Industrial buys back FCCBs worth $25.5 million
Bongaigaon shares to be suspended from April 21 (merger with IOC)
Todays Writing Products to apply to banks for corporate debt restructuring scheme
RBI CFSA Report: -Banks' liquidity ratio analysis shows some concerns. -Mull merging banks with low govt stake with high stake banks

Board meets:
-Anu's Labs to mull stock split
-Aurobindo Pharma on scheme of arrangement ((details not given))
-Aptech, Essel Propack, Megasoft, Plethico, Sterling Bio, Uttam Sugar, Wockhardt results

Other news
MCX all set to revive IPO, likely to approach SEBI soon – Agencies
Ex-split: Pudumjee Pulp comes out of ND period
Ex-dividend: Pfizer @ Rs 12.50/sh
In T2T from April 6: Gokaldas, Kinetic Motor


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