Stocks in news: TCS, IFCI, JP Associates, Tayo Rolls

Stocks in news:

• Results today:
  TCS, IFCI, Indian Bank, UCO Bank, Jaiprakash Associates, Orbit Corp, Reliance Industrial Infra, Sasken Communication, Axis Bank, BOC India, KLG Systel, Vikash Metal & Power and  Welspun Gujarat
• Board meetings:
  JP Associates on stock split
  Tayo Rolls board on rights issue
• New listing:  
  Consolidated Construction
• N-Deal on hold, US to be formally informed
• HSBC, ABN Amro, IDFC and Reliance Capital in race to buy 10% in Lok Housing for Rs 500 cr - ET
• Power Cos may get nod for spot sale of 20% of output - ET
• HC ruling in RIL-RNRL case likely today
• Blast in Shringar Cinema at Ludhania
• Cadila close to buying an European firm for USD 80 mn - BS
• RIL submits bid for Tuntex Thailand, an integrated producer of polyester with annual capacity of 2.5 lakh tonne - DNA
• IFCI Update:
  Goldman Sachs cuts stake from 5.21% to 2.88% between Aug 9- Oct 3 via open market transactions
• Exclusive:
  Bajaj Auto to slash price of Platina by Rs 4,000: sources
  Platina to cost Rs 29,990 after price cut: sources
  Platina to become the cheapest 100 cc motorcycle: sources
  Alert: Hero Honda cut price of CD Deluxe by Rs 2,000 recently
• Indian ADRs:
  HDFC Bank up 7%, Sterlite up 5.5%
• Global news:
  China’s largest Internet company Alibaba.com to go for IPO; company valued at USd 7.8 bn and will have a forward PE of 50 at issue price
• ICICI Bank may exit subprime business due to reputation risks; has exposure of Rs 2,000 cr - ET
• Civil aviation ministry proposes changes in guidelines to fly abroad; may allow airlines with fleet of 20-30 aircraft
• NSE bars further F&O positions in Triveni Engg as 95% of marketwide limit reached
• ICICI Bank:
  Cuts deposit rates on select schemes by 50 bps To 9%
  Cuts rates on 390, 590, 890-day deposits to 9%
• LG Balakrishnan board approves de-merger of forging division into separate company to be listed
• Sical Logistics board approves increasing FII investment limit from 24% to 49%
• JSW Steel to invest Rs 17,000 cr to up production capacity to 10 MT by 2010; also mulling secondary listing in overseas bourses: PTI
• Swati Piramal says R& D arm to be listed post June ‘08
• Bank of Baroda reduces interest rates on new housing loans by 0.5% from October 15: PTI
• Rallis India Q2
  Net profit at Rs 102 cr vs Rs 43.5 cr
  Net sales at Rs 247 cr vs Rs 211.7 cr
  OPM at 13.7% vs optg loss of Rs 5.2 cr
  Other income at Rs 87.6 cr vs Rs 54.3 cr
  H1 EPS at Rs 83
  Other income is on sale of Land in Hyderabad
• CMC Q2 (QoQ)
  Net profit at Rs 23 cr vs Rs 23.4 cr
  Net sales at Rs 275.2 cr vs Rs 239.3 cr
  OPM at 10.8% vs 13.3%
  H1 EPS at Rs 30.64
• CMC Q2 (YoY)
  Net profit at Rs 23 cr vs Rs 11.9 cr
  Net sales at Rs 275.2 cr vs Rs 242.2 cr
  OPM at 10.8% vs 6.8%
  H1 EPS at Rs 30.64
• IDFC Q2FY08 (Standalone)
  Op Income: up 55.5% to Rs 602.8 cr vs Rs 387.6 cr
  PAT: up 31.5% to Rs 179.4 cr vs Rs 141.4 cr
  Net NPAs-NIL
• IDFC Q2FY08 (Consol)
  Op income: up 62.9% to Rs 655.1 cr vs Rs 402.1 cr
  PAT: up 25.6% to Rs 194.5 cr vs Rs 154.8 cr
  Net NPAs-NIL