Thursday, March 12, 2009

Stocks in Action for the day: RIL, Satyam, Dena Bk, Bharti, Eicher Motor

RIL: R1:1168, R2:1183, R3:1198, S1:1138, S2:1123, S3:1108.

Reliance Industries (RIL) : -Looking to restart retail fuel operations, may tie up with PSU oil companies -RIL has already written to IOC, HPCL, BPCL for possible tie-up -May buy fuel from PSU oil companies to restart retail fuel operations -Alert: RIL had shut all 1,432 fuel retail outlets last March
RIL shareholders, creditors to mull Reliance Petroleum merger on April 4: NW18
Fertilizer Association sends letter to government seeking clarity on RIL’s “take or pay” clause in gas sales-purchase agreement:

Satyam: R1:51.7, R2:54.7, R3:59, S1:44.4, S2:40.1, S3:37.1.

Satyam update: Sources say: -HP, Computer Science Corp evaluating bidding for Satyam. -SEBI set to issue first order against Ramalinga Raju for fraudulent & unfair trade practices -Stringent exit clauses on key employees, physical assets
-Physical assets of Satyam valued at Rs 1,800 crore -Restatement of accounts unlikely before March 31 deadline -Alert: Interested parties to put in bid by 5 pm today

Dena Bank: R1:30.1, R2:30.9, R3:31.7, S1:28.5, S2:27.7, S3:26.9.

Dena Bank: -To cut rates on new home loans by 25 bps from March 16. -To cut rates on new auto loans by 50 bps from March 16

Eicher Motors: R1:219, R2:222, R3:224, S1:214, S2:212, S3:209.

Eicher Motors buy back at Rs 691.7/sh opens today (It’s at fixed price of Rs 691.7, CMP Rs 216. This is the same price at which 8.1% stake was sold to Volvo)

Fulford India: R1:296.9, R2:303.4, R3:306.9, S1:283.9, S2:283, S3:276.4.

Fulford India in focus: Merck to acquire Schering-Plough for $41.1 billion (Schering Plough through it’s subsidiary, DashTag holds 54% stake in BSE listed Fulford)

IndusInd Bank interested in bidding for RBS' Indian operations: Sources
Noida Toll Bridge mulls cancellation GDR trading on AIM market of London Stock Exchange (to hold meeting of GDR holders on Apr 6 for approval)

Industry News: Alert: January IIP data to be released today

7% growth target to be missed – RBI

TRAI Says: -Termination charge for all domestic calls reduced to 20 paise. -Termination charge for incoming international calls raised to 40 paise -GSM players say will be hit TRAI endorses 3 year lock-in on stake sale by new telecom companies.

Telecom: -COAI says February GSM mobile growth at 9.18 million -Airtel subscribers up by 2.73 million; Idea subscribers up by 1.5 million ((Includes Spice Comm acquisition))


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