Results today: Adani Power, Everonn, Finolex Cables, JHS Sevengaard, Jindal Hotels, Merck, Patni Computer, Power Grid Corp
Global events to watch
Þ ICSC-Goldman Store Sales
Þ 4-Week Bill Auction
Global indices Update @ 8:
Dow Jones : 12161 (+69.48)
NASDAQ : 2783 (+14.69)
Nikkei 225 : 10626 (+33.99)
Hang seng : 23539 (- 13.76)
SGX CNX Nifty : 5398 (- 06.50)
INR / 1 USD : 45.59
Stocks in action for the day: GCPL, NTPC, RIL, ONGC, ITI, Tata Steel, Spicejet, Reliance…
Tata Steel fund raising plans – Sources -Plans to raise USD 500 million by issuing bonds, preferably perpetual bonds -May launch the issue by mid 2011 -Plans not to dilute the promoter’s stake further -Tata Steel promoter stake currently at 30.08% -Perpetual bonds are treated as equity capital; will not dilute promoter’s shareholding -To raise money from international market with interest rate of approximately 9%
Reliance may be forced to accept the USD 3.2 billion Chevron-Atlas deal despite concerns (ET)
Spice Jet clarification to exchanges: Reports saying Spicejet purchase by Kalanithi Maran under CBI scam" is totally false, malicious, motivated, preposterous and per-se defamatory
ITI chairman says -Expect Rs 2500 cr order from BSNL, MTNL soon -Govt to decide on Rs 350 crore aid -Expect additional Rs 180 cr aid by March 31
Wipro says: -Realigned organizational structure for company -Industries consolidated under 6 value chains -Client delivery, sales, profitability aligned with SBU’s Alert: Strategic Business Units
Avantha Power - Sources -Avantha Power IPO postponed to Q4 FY12 -Market conditions not conducive for IPO -Finance tied up for Chhattisgarh, MP Power Projects: -APIL aims to raise Rs 1,250 crore through IPO -APIL has existing thermal capacity of 191 MW -APIL to have total installed capacity of 3911 MW by 2013
SEBI says: -To make ASBA mandatory for non-retail investors from May 1 -Made recommendations to MCA for amendments in companies act -Companies Act amendment needed to protect minority shareholder -No voting right for board members in case of conflict of interest -Registration of intermediaries to be made on permanent basis -To make renewal process simpler for market intermediaries -Did not discuss new takeover code in board meet -Takeover code not considered as govt sought more time -Did not consider jalan report in today's board meet -Black money case to be decided by tax department -Against interested party voting in resolution at co AGM -Currency derivatives segment to have self-clearing members -Initial registration for market intermediaries only for 5 yrs -Forex F&O self-clearing members need Rs 5 crore net worth
Sangam India moved higher after the company’s net profit surged to Rs 18.45 crores for the quarter ended December 2010, up 412 per cent, against Rs 3.60 crores in the same quarter previous fiscsal.
Jaiprakash Power Ventures Board will meet of February 14 to consider amalgamation of companies having synergy of business with that of the company for enhancing the stakeholders' value. The stock was at Rs 43.80, up 0.92 per cent on the BSE. It touched a high of Rs 44.85 and low of Rs 42.65 in trade so far.
Sun TV Network has announced that the company and its chairman Kalanithi Maran categorically deny that they have or had any shareholding or association/transaction with Kalaignar TV.
Lincoln Pharmaceuticals has introduced India's first long-acting Paracetamol 'Pa-12' for long term relief from fever and pain.
Cipla were under pressure after its net profit slipped to Rs 232.69 crores for the quarter ended December 2010 as compared to Rs 289.03 crores in the same quarter previous fiscal. Total income increased to Rs 1579.36 crores from Rs 1456.34 crores for the quarter ended December 2009.
Bharat Petroleum Corporation’s wholly owned subsidiary Bharat PetroResources has informed that the Tubarao exploration well drilled in the Rovuma Basin offshore Mozambique, has encountered more than 34 net metres of natural gas pay and no water in a high quality Eocene-age reservoir.
ONGC: Ex-bonus 1:1 and Ex-split 2:1
Zee Entertainment to mull share buyback on Friday
Moser Baer Technologies and Universal Display Corporation announces Technology & Licensing Agreement for Energy - Efficient White Oled Lighting
NTPC production set to fall 7% as wagon derailment hits coal supply to its Kahalgaon Thermal power station in Bihar (ET)
SAIL is forming an equal equity JV with Japan’s fourth largest steel firm Kobe Steel to setup a Rs 1500 crore plant at Durgapur having a capacity of 0.5mt (ET)
CBI investigating the funding & transactions of Datacom services now Videocon Mobile which was awarded a 2G telecom license in January-08 (BS)
Karur Vysya Bank got an approval from its board for the proposed Rs 450 crore rights issue (BS)
L&T Finance may come out with an IPO during the current fiscal to raise Rs 1500 crore (FE)
FDC announced the buyback of its equity shares upto a maximum of 37 lakh shares & a minimum of 9.2 lakh shares at a max price upto Rs 135/sh (FE)
Fortis Healthcare plans to invest Rs 1000 crore for adding 12 new hospitals across the country this year (BL)
Godrej Consumer (GCPL) hikes soap prices by 3-5% (TOI)
Kingfisher and Orchid Chemical entered into F&O ban
JSW Steel has deferred the open offer for picking an additional stake of 20% in Ispat Industries (BS)
CAG probes Isro’s 70 MHz gift to firm valuing Rs 1000 crore (TOI)
Listing of equity shares of Sentinel Tea and Exports Limited pursuant to scheme of arrangement on February 09
Environment Ministry bans packaging of food plastic carry bags Environment Ministry bans plastic sachets for pan masala packaging
Sangam India moved higher after the company’s net profit surged to Rs 18.45 crores for the quarter ended December 2010, up 412 per cent, against Rs 3.60 crores in the same quarter previous fiscsal.
Jaiprakash Power Ventures Board will meet of February 14 to consider amalgamation of companies having synergy of business with that of the company for enhancing the stakeholders' value. The stock was at Rs 43.80, up 0.92 per cent on the BSE. It touched a high of Rs 44.85 and low of Rs 42.65 in trade so far.
Sun TV Network has announced that the company and its chairman Kalanithi Maran categorically deny that they have or had any shareholding or association/transaction with Kalaignar TV.
Lincoln Pharmaceuticals has introduced India's first long-acting Paracetamol 'Pa-12' for long term relief from fever and pain.
Cipla were under pressure after its net profit slipped to Rs 232.69 crores for the quarter ended December 2010 as compared to Rs 289.03 crores in the same quarter previous fiscal. Total income increased to Rs 1579.36 crores from Rs 1456.34 crores for the quarter ended December 2009.
Bharat Petroleum Corporation’s wholly owned subsidiary Bharat PetroResources has informed that the Tubarao exploration well drilled in the Rovuma Basin offshore Mozambique, has encountered more than 34 net metres of natural gas pay and no water in a high quality Eocene-age reservoir.
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