Jun 11, 2013 09:52 AM IST | Source: CNBC-TV18

Stocks in news: Eicher Motors, Elder Pharma, Videocon

Assam Company | Eicher Motors | Elder Pharma | JSW Energy | Axis Bank | HDFC Bank | ICICI Bank | ONGC | Oil India and Videocon Industries are stocks, which are in the news today.

Stocks in news: Eicher Motors, Elder Pharma, Videocon

Here are stocks that are in news today:

Deal done?
-Erroneously releases report of signing deal with Videocon for Mozambique stake
-Late night, recalls press release
-Says deal at advanced stage but not signed yet

Deal done?
-Release indicated ONGC (via ONGC Videsh) and Oil India agree to buy Videocon’s 10 percent stake
-6 percent stake bought by ONGC, 4 percent by Oil India
-Release indicated deal size of USD 2.5 billion for 10 percent stake

Jet Airways shares down 11 percent (CMP Rs 403.70, 52-week high at Rs 688 on April 25th 2013, 52-week low at Rs 320 on 27th July 2012)
-Stock falls ahead of decision on Etihad deal
-Finance Ministry's will be meeting today on Rs 2000 crore Jet-Etihad deal -Jet Airways plans to sell 24 percent stake to Abu Dhabi-based Etihad for about Rs 2,058 crore
-Last week, Jet Airways chief executive Nikos Kardassis resigned
-Stock has lost 18 percent this month and 28 percent since the start of the year

Cement cartel case:
-SC issues notice to builders association in case   
-SC to hear appeal filed by 5 cement companies tomorrow   

RBI penalises Axis Bank, HDFC Bank and ICICI Bank Rs 5 crore, Rs 4.5 crore and Rs 1 crore, respectively for KYC rule breach
RBI says
-No prima facie evidence of money laundering against the 3 banks
-Final call on money laundering only post other agency probes      
-HDFC Bank, Axis Bank, ICICI Bank fined for violating KYC norms    
-Scrutinised corporate offices of 36 other banks in April-May
-Scrutiny of other 36 banks at different stages of completion        
-Tax, enforcement bodies probing money laundering by 3 private banks

Group of ministers (GoM) meet on BSNL, MTNL revival strategy deferred to tomorrow
Alert: GoM headed by FM, was scheduled to meet on June 11                                         

GMR group says
-Media report on sale of stake in ISGIA and price expectation incorrect;
-Remain fully committed to ISGIA
ISGIA: Istanbul Sabiha Gokcen International Airport

JSW Energy: (CMP 55.5)
-Amba River, JSW Steel to buy 2.73 million shares in company
-Amba River, JSW Steel to buy shares in company at market price
-JSW Steel holds 4.75 percent stake in JSW Energy

Other stocks and sectors that are in news today:
-Elder Pharma put in block as company grappling with high debt – ET
-L&T Consortium bags Rs 6700 crore railway project – Agencies
-GMR Infra trying to retrieve Rs 747 crore from Cyprus bank – FE (sum is part of proceeds from stake in Intergen)
-US based Polaris Industries in talks with Eicher Motors for a tie-up – FE
-Assam Company set to resume oil and gas exploration – DNA
-Former SBI Chairman OP Bhatt joins Tata Steel as independent director
-Cadila Health goes ex-dividend – Rs 7.5/sh
-Tata Coffee goes ex-dividend – Rs 7.5/sh

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