18th August, 2011 Morning Market Updates 8:40
Stock in news
Stock in news
Results today: GTL, Asian Electronics, Ballarpur Ind
Jet Airways (Stock was down 13% yesterday)
Company says
-Plan to start low-fare flights to overseas destinations
-Aim to cut all expenses, excluding fuel, by over 25% this fiscal
-Plan to up low-fare capacity on local routes to 85% versus 72%
Company says
-Plan to start low-fare flights to overseas destinations
-Aim to cut all expenses, excluding fuel, by over 25% this fiscal
-Plan to up low-fare capacity on local routes to 85% versus 72%
Board meets today - TTK Prestige consider amalgamation of Prestige Housewares India with itself
- Dhanus Tech to approve bonus issue
- Dhanus Tech to approve bonus issue
Brooks Laboratories IPO with the price band of Rs 90-100/sh closes today
QIB's: Nil
NII's: 0.33 times
RII's: 0.61 times
Overall: 0.26 times
QIB's: Nil
NII's: 0.33 times
RII's: 0.61 times
Overall: 0.26 times
Idea Cellular challenges single-judge bench Delhi HC order over 6 licences on Spice
Idea to Delhi HC
-DoT lacks power to decide on mergers & put conditions
-Merger of company is different from merger of licences
-DoT has only authority to regulate licences
Idea to Delhi HC
-DoT lacks power to decide on mergers & put conditions
-Merger of company is different from merger of licences
-DoT has only authority to regulate licences
Other stocks and sectors that are in news today:-RBI likely to allow some companies to foray into banking space, but realty among four sectors to be kept out & govt may cap FDI in new banks at 49% (BS)
-Cairn Energy writes to ONGC ; seeks NOC for Vedanta deal by September 21
-Malaysian based Axiata Tele looking to raise its stake in Idea Cellular to 25%, looking for nod from Indian promoter Aditya Birla (ET) (Bought 0.9% from open market, ups stake to 19.98%)
- GTL has approached Delhi HC challenging IFCI’s seizure of 18% stake in sister concern GTL Infra (ET)
-Welspun eyes more acquisitions to expand its infrastructure business (BS)
- Syndicate Bank likely to buy 26% stake in Aviva Life with an undisclosed amount (BS)
-Reliance Gas Transportation Infra would need regulatory approval to sell its stake as PNGRB chairman says there’s a lock in clause for pipeline operators (ET)
- Nalco moves SC challenging the Orissa govt’s decision to levy higher electricity charges on companies which generate energy for their captive consumption (FE)
- SAIL plans 3 SPV to revive its Sindri unit likely to have a debt-equity of 80:20 for its Rs 35000 crore project (BL)
- Coal India ’s plan to develop two underground coal gasification projects in Jharkhand & Maharashtra through private sector participation hits procedural hurdle (BL)
-Nagarjuna Oil Corp six mtpa refinery in Tamil Nadu to be commissioned by year end and also to invest Rs 2500 crore on port, tankages & power plants (BL)
- SAIL working on finalizing JV agreement with Japan’s Kobe (DNA)
- Mundra Port & Welspun in race to develop & operate a Rs 2620 crore multipurpose port at Vizhinjam in Kerala (Mint)
-F&O Ban: Deccan Chronicle, Gitanjali Gems, Suzlon
-Cairn Energy writes to ONGC ; seeks NOC for Vedanta deal by September 21
-Malaysian based Axiata Tele looking to raise its stake in Idea Cellular to 25%, looking for nod from Indian promoter Aditya Birla (ET) (Bought 0.9% from open market, ups stake to 19.98%)
- GTL has approached Delhi HC challenging IFCI’s seizure of 18% stake in sister concern GTL Infra (ET)
-Welspun eyes more acquisitions to expand its infrastructure business (BS)
- Syndicate Bank likely to buy 26% stake in Aviva Life with an undisclosed amount (BS)
-Reliance Gas Transportation Infra would need regulatory approval to sell its stake as PNGRB chairman says there’s a lock in clause for pipeline operators (ET)
- Nalco moves SC challenging the Orissa govt’s decision to levy higher electricity charges on companies which generate energy for their captive consumption (FE)
- SAIL plans 3 SPV to revive its Sindri unit likely to have a debt-equity of 80:20 for its Rs 35000 crore project (BL)
- Coal India ’s plan to develop two underground coal gasification projects in Jharkhand & Maharashtra through private sector participation hits procedural hurdle (BL)
-Nagarjuna Oil Corp six mtpa refinery in Tamil Nadu to be commissioned by year end and also to invest Rs 2500 crore on port, tankages & power plants (BL)
- SAIL working on finalizing JV agreement with Japan’s Kobe (DNA)
- Mundra Port & Welspun in race to develop & operate a Rs 2620 crore multipurpose port at Vizhinjam in Kerala (Mint)
-F&O Ban: Deccan Chronicle, Gitanjali Gems, Suzlon
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