3rd August, 2011 Morning Market Updates 8:45
Stock in news
Stock in news
Results today: Bharti Airtel, Hindustan Copper, CEAT, Standard Chartered PLC, Oberoi Realty, Maharashtra Seamless, Jindal Drilling & Industries, Harita Seating Systems, Himatsingka Seide, Trident, IG Petrochemicals, Jai Corp, Swaraj Engines, Asian Granito, Megasoft, Kirloskar Electric, Deep Inds, OCL India, Subros, Tide Water, FIem Inds, Accel Frontline, United Spirits
Danone acquires Wockhardt's nutrition biz for 250 m euros (or Rs 1550 crore); Wockardt m-cap Rs 5000 crore
-Danone will acquire Wockhardt's nutrition business and brands as well as related industrial operations from Carol Info Service
-Carol Info will be in focus (stock was up 20% yesterday - subsidiaries of Wockhardt)
-Carol Info Services (earlier known as Wockhardt Life Sciences) makes these nutrition products at its factories, as an outsourced function
-Khorakiwala family owns about 64% of the co company
-The deal is more than double the amount at which it had signed a similar deal with US pharmaceutical giant Abbott a year ago ((Abbott deal was called off after Wockhardt’s lenders opposed the sale of its nutrition business))
-Danone will acquire Wockhardt's nutrition business and brands as well as related industrial operations from Carol Info Service
-Carol Info will be in focus (stock was up 20% yesterday - subsidiaries of Wockhardt)
-Carol Info Services (earlier known as Wockhardt Life Sciences) makes these nutrition products at its factories, as an outsourced function
-Khorakiwala family owns about 64% of the co company
-The deal is more than double the amount at which it had signed a similar deal with US pharmaceutical giant Abbott a year ago ((Abbott deal was called off after Wockhardt’s lenders opposed the sale of its nutrition business))
NMDC says -Shocked by allegations of Lokayukta report
-To clarify issues regarding alleged under-voicing
-Cabinet approves long-term iron-ore contract prices
-Iron-ore spot prices tend to be higher than long-term rates
-No question of under-selling NMDC products
-'Lokayukta confused about spot & long-term prices'
-'Strongly deny Lokayukta report; it is misconceived'
-CEP report says no violation of environmental norms by co
-CEP report says no illegal mining by co
-SC ban on mining in Bellary a 'Stock-taking Exercise'
-Have suspended total ops; waiting for August 5 SC decision
-To clarify issues regarding alleged under-voicing
-Cabinet approves long-term iron-ore contract prices
-Iron-ore spot prices tend to be higher than long-term rates
-No question of under-selling NMDC products
-'Lokayukta confused about spot & long-term prices'
-'Strongly deny Lokayukta report; it is misconceived'
-CEP report says no violation of environmental norms by co
-CEP report says no illegal mining by co
-SC ban on mining in Bellary a 'Stock-taking Exercise'
-Have suspended total ops; waiting for August 5 SC decision
Bangalore Chamber of Commerce says
-Bellary suspension to affect 20 mt/yr capacity for industry
-25% industry steel production to be impacted due to Karnataka issue
-Cascading effect of prices will push up inflation
-Production cuts among Karnataka iron, steel manufacturers in place
-Bellary suspension to affect 20 mt/yr capacity for industry
-25% industry steel production to be impacted due to Karnataka issue
-Cascading effect of prices will push up inflation
-Production cuts among Karnataka iron, steel manufacturers in place
Other stocks and sectors that are in news today:
-West Bengal CM has pulled up JSW Steel’s Sajjan Jindal to convey her disapproval over the delay in the 10 mt project at Salboni in West Bengal (BS)
-Adani group acquires a 50% stake in 1.1 acre plot at Cumballa hill in Mumbai from DB realty for around Rs 150 crore (ET)
-Tata Metaliks to shut its Goa plant as Iron ore supply from Bellary district takes a hit in the back of mining ban
-DLF is selling a 27.4 acre plot in Gurgaon for around Rs 400 crore with Tata Realty & M3M developers in race to buy the land (ET)
-Natco Pharma applies for first compulsory licence to sell a generic version of Bayer’s patented medicine drug Nexavar (ET)
-GMR Infra opts out of race to acquire Australia based Bandanna Energy’s coal mines as due diligence finds local laws prohibiting foreign cos from mining on farm land (ET)
-JK Paper’s rights issue of 5.8 crore equity shares at Rs 42/sh open on August 8 ((CMP: 44.55))
-FM set to clear the merger of State Bank of Patiala & State bank of Hyderabad with SBI likely on August 6 (FE)
-Pheonix Mills has bought HBS realtors entire 8.6% stake in its Market City Development in Bangalore for Rs 17 crore (Mint)
-Apollo Global Management in talks with courier & shipping firm Gati for USD 100 million minority investment may involve up front equity & convertible instruments (TOI)
-Valuemart Info Tech board approves conversion of 31 lakh equity warrants into equity shares at Rs 6/sh to promoters
-BEML forays into Thailand for export of mining equipments by appointing Paragon machinery as its distributor for Thailand
-Ex Dividend: VST Tillers Rs 9/sh, Shalimar Paints Rs 8/sh
-F&O ban: Deccan Chronicle, Gitanjali Gems
-West Bengal CM has pulled up JSW Steel’s Sajjan Jindal to convey her disapproval over the delay in the 10 mt project at Salboni in West Bengal (BS)
-Adani group acquires a 50% stake in 1.1 acre plot at Cumballa hill in Mumbai from DB realty for around Rs 150 crore (ET)
-Tata Metaliks to shut its Goa plant as Iron ore supply from Bellary district takes a hit in the back of mining ban
-DLF is selling a 27.4 acre plot in Gurgaon for around Rs 400 crore with Tata Realty & M3M developers in race to buy the land (ET)
-Natco Pharma applies for first compulsory licence to sell a generic version of Bayer’s patented medicine drug Nexavar (ET)
-GMR Infra opts out of race to acquire Australia based Bandanna Energy’s coal mines as due diligence finds local laws prohibiting foreign cos from mining on farm land (ET)
-JK Paper’s rights issue of 5.8 crore equity shares at Rs 42/sh open on August 8 ((CMP: 44.55))
-FM set to clear the merger of State Bank of Patiala & State bank of Hyderabad with SBI likely on August 6 (FE)
-Pheonix Mills has bought HBS realtors entire 8.6% stake in its Market City Development in Bangalore for Rs 17 crore (Mint)
-Apollo Global Management in talks with courier & shipping firm Gati for USD 100 million minority investment may involve up front equity & convertible instruments (TOI)
-Valuemart Info Tech board approves conversion of 31 lakh equity warrants into equity shares at Rs 6/sh to promoters
-BEML forays into Thailand for export of mining equipments by appointing Paragon machinery as its distributor for Thailand
-Ex Dividend: VST Tillers Rs 9/sh, Shalimar Paints Rs 8/sh
-F&O ban: Deccan Chronicle, Gitanjali Gems
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