Wednesday, April 29, 2009

BOR: Stocks in action for the day: Bharti, Sterlite, BoB, Aditya Birla Nuvo

Bharti: R1: 745, R2: 766, R3: 782, S1: 708, S2: 692, S3: 671.

Bharti: -Bharti to enter into JV with Alcatel Lucent for outsourcing services -Bharti to have 26% in JV; Alcatel Lucent to hold 74%: Bharti-Alcatel JV: -To manage fixed line, broadband, IPTV network: -Alcatel-Bharti network management JV announcement likely shortly: sources -Alert: Bharti has existing relationship with Ericsson and Nokia Siemens SEBI writes to Bharti for clarification over complaints that group company hiked stake in Bharti by 6%

Sterlite: R1: 404, R2: 425, R3: 439, S1: 369, S2: 355, S3: 334.

Sterlite: Sterlite says will take 3-4 months to complete Asarco acquisition Vedanta buys 9% in Canadian mining company Hudbay for $80 million: Reports

Bank of Baroda: R1: 326, R2: 344, R3: 358, S1: 294, S2: 279, S3: 261.

Bank of Baroda BoB says have not seen SFIO report BoB on SFIO report
-SFIO has not written to bank on investigating officials -Satyam has a current account with Bank Of Baroda in NY -Did not observe any transactions in current account that raised doubts

Future Group: -Looking to raise Rs 500 crore via 5-year guaranteed NCDs: -NCD rate still under negotiation; product likely to hit market by June: Sources -Amount will be used for replacement of existing debt: Sources

Aditya Birla Nuvo: R1: 587, R2: 650, R3: 687, S1: 487, S2: 449, S3: 387.

Aditya Birla Nuvo: -Files writ petition in Bombay HC against IT Dept -Petition relates to IT department's stance on AT&T-Idea deal: -Plans Rs 600 crore capex for life insurance business for FY10

SEBI : -Disposes off adjudication proceedings against Sun TV -Sun TV has complied with Clause 49 IVB and B of listing agreement: SEBI


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