Wednesday, September 17, 2008

Stocks in news: Ranbaxy, RIL, ICICI, Adani Enter

Stocks in news:

Ranbaxy Labs:
US FDA issues two warning letters to generic drugmaker company
US FDA Issues 'Import Alert' for drugs made at two plants in India
US FDA bans imports of more than 30 generic drugs made by company

ICICI-Bank's clarification on Lehman Exposure
ICICI UK arm's Lehman exposure less than 1% of arm's assets
ICICI UK arm's Lehman exposure less than 0.1% of group's assets
ICICI UK arm provided $12 million against Lehman exposure
ICICI UK arm to provide additional $28 million if 50% Lehman debt recovered

Reliance Industries (RIL) gas output from KG basin may be delayed - DGH - ET
PE players eyes 4-4.5% stake in Adani Power for Rs 1800 crore, valuing the power co at $10 billion (Adani Enterprises holds 86.45% stake)
Fresenius exploring options to delist Dabur Pharma, management denies -ET (has acquired 90% stake @ Rs 76/sh)
Andrew Yule may sell stake in 2 subsidiaries
Government ready to cut size of Ultra Power project for Indian company - DNA
Government rules out windfall tax on oil company - DNA
Germany's MAN looking to buyout Force Motors in Indian JV - ET
Lotus Chocolate open offer revised from Rs 16 to Rs 28/sh
ACC to de-list GDR
Melstar Info open offer at Rs 15/sh
NAV of AIG's India fund down 7% in September, no major redemption pressure reported
Aviation:
Federation of Indian Airlines apply for licence to import ATF for operations
FAA applies to Dir Gen of Foreign Trade for licence to import ATF
Alert: FAA move to help cut ATF costs by 20%
Idea Cellular open offer for Spice Communications to open today, close October 6 ((was to open on Aug 22))
Sai Service delisting offer opens today; floor price of Rs 189.54
Strides Arcolab completes business restructuring; to sell Latin America operations to Aspen for $ 18 million
Wipro/Copal partners mull bidding for Lehman back office in Powai
Amtek Auto:
Warhol acquires further 4.01% stake from open market
Increases its holding to 9.82%, Had last acquired 2.69% in July
Board meetings:
-Gujarat NRE Coke to consider differential rights issue of 1 DVR share per 300 shares @ Rs 1000/sh -Surana Telecom to consider further steps for buyback ((recently got SEBI exemption, buyback was approved in April))
-Gallantt Metal to consider preferential allotment to FIIs/NRIs/strategic investors
Ex-split: Era Infra from Rs 10 to Rs 2; Gemini Comm from Rs 5 to Re 1 (go into ND period; out on Sep 24)

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