SENSEX GAINS 139 POINTS AFTER GREECE SECURES 2ND BAILOUT >Nifty closes above 5600 mark for 1st time since July 25, 2011 >EU finance ministers' approval to Greek's second bailout package of 130 bn euro helps market >Global markets mixed as they already priced in Greece news >Oil & gas, banks, telecom, capital goods stocks support market >Broader markets outperform benchmarks, rising around 1% Let see stocks that were in news today...
MPHASIS LIKELY TO ANNOUNCE BUYBACK SOON: SOURCES >Promoter holding stands at 60.52% >Company has nearly USD 350 million of cash in hand >Stock ends up 3%
BHEL RISES 4.8% >19% import duty is likely on power equipment for mega projects, reports The Hindu Business Line
VEDANTA LOOKING TO MERGE STERLITE & SESA GOA: SOURCES >Vedanta stake in Cairn will be transferred to sterlite >Sterlite will issue shares to Vedanta in return for Cairn stake >Current listed Sterlite will be holding company for all Indian operations >No cash transaction involved in overall restructuring >Vedanta group declines to comment >Sterlite down 3.5%; Sesa Goa up 0.6%
RAJ TV SURGES 7.5% >Company enters into agreement with TamilNadu Cable Network-Arasu Cable >It expects additional subscription revenues from pay channel segment >Raj TV will ensure 100% connectivity in distribution segment across TN
ROLTA LOOKING TO BUYBACK FCCBS: SOURCES >Rolta has tied up majority funds with banks: Sources >It has USD 97 million FCCBs maturing in June 2012 >Rolta tells CNBC-TV18 that it is in process of refinancing FCCBs >Stock up 4%
ALLAHABAD BANK GAINS NEARLY 5% >Bank's board members will meet tomorrow to consider preferential issue of shares
KINGFISHER RECOUPS LOSSES IN LATE TRADE >Stock plunged 18% post company's bank accounts frozen suddenly last weekend. Even it is facing problems at operational level due to shortage of funds. However, the stock recovered in late trade after sources reclaim that lenders may give total support of Rs 1000 crore to KFA >Lenders may sanction Rs 400 cr as working capital >Lenders may sanction Rs 500 cr to pay interest >Lenders consortium on KFA will meet again
ELECTROSTEEL CASTINGS RISES 15% >Company receives MOeF clearance for its Iron Ore mines located at Kodolibad, West Singhbhum, Jharkhand.
STOCKS IN NEWS >HCL Infosystems (stock ends up 2%) gets order worth Rs 278 cr from Electronics Corp >Man Infraconstruction (up 4%) bags order worth Rs 145 cr >UCO Bank (up 3%) will allot 3.14 cr equity shares to LIC on preferential basis >Reliance Communications (up 3%) may use single vendor to manage USD 3 bn outsourcing contract for 5 years – Business Standard
GAINERS, LOSERS AMONG LARGECAPS >Reliance up 3%, ONGC up 3.7% >Bharti Airtel gains 2.7%; SBI, ICICI Bank up 1-1.5%; HDFC Bank up 0.67% >Tata Steel, Hindalco up nearly 3%; DLF gains 2% >M&M, Hero Motocorp up over 1.4% >Infosys down 0.5% , Wipro down 1.5%; TCS gains 0.4% >L&T falls 0.4%; Tata Power down 2.6%; Tata Motors, HUL, HDFC, NTPC, Maruti down 0.4-1%