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Stocks in news: Allcargo Log, Motherson Sumi, JK Lakshmi
Pioneer Embroiders | Allcargo Logistics | Motherson Sumi | JK Lakshmi Cements | M&M | Subex | Manappuram Finance | Tulip Telecom | SREI Infra | Dhanalaxmi Bank and M&M are stocks, which are in the news today.
Results today - Mahindra & Mahindra, GMR Infra, VIP Industries, United Breweries, Cadila Health, BILT, ARSS Infra, Career Point, HOEC, Omaxe, Opto Circuits, Radico Khaitan
PG Jayakumar to take charge as MD & CEO of Dhanlaxmi Bank -PG Jayakumar is currently ED with 34 years in the bank
TRAI chairman -To frame exit policy for new & existing telecom operators -Will send recommendations for 2G auction in 2 months -Working on base prices
SREI Infra in focus -Viom Networks' chairman Subodh Bhargava has resigned from his post, citing personal reasons but sparking speculation that it could be related to an ongoing legal tussle between the company's owners and a former official. -Bhargava is also on the board of Tata Communications. People familiar with the development said Bhargava was recently sent summons from a district court in Ghaziabad in connection with a case filed by former company secretary, Arun Bansal, alleging unlawful termination of service - BS -Alert - Viom Network (JV between SREI Group enterprise Quippo Tele and Tatas; Kanorias hold around 18% stake, but have management control)
Fitch says (From Agencies) -No near-term change in India's rating outlook -Awaiting fiscal consolidation steps in upcoming budget
Tulip Telecom says -Have participated in UID's RFP for data centres -Expect contract will be awarded by early March
Interim dividend -MOIL declares Interim dividend of Rs 2/sh for year ending March 2011 -Rane Holding declares interim dividend of Rs 6/sh for year ending March 2011 -Glaxosmithkline Consumer board recommends dividend of Rs 35/sh
Tata Teleservices says -To file review petition over cancellation of 3 licences -Have been advised to file review petition at SC -Had applied for 3 licences in June 2006 -Licenses were kept pending for over 18 months -Letter of intent finally issued in January 2008 -Auction to bring transparency if auctioned 2001 onwards -Clubbing co with 2 licensees from real estate overlooks facts -NTT Docomo investment not on account of 3 licences -NTT Docomo investment on account of company's established position
Other stocks and sectors that are in news today: -RBI says Manappuram Finance not permitted to accept/renew deposits from public -Subex seeks RBI and bond holders approval to extend maturity of existing FCCB's by 4 months from March 9th to July 9th -Revised estimate for fertiliser subsidy during 2011-12 is expected Rs 62,000 crore: BL ((analyst estimated Rs 85000 crore plus)) -SC Panel moots market rates for Karnataka Iron Ore, caps output - ET -M&M may consider the SAAB acquisition at the board meeting. -ESAB India open offer at Rs 550/share starts from March 19-April 2, 2012 (CMP Rs 519) -Amar Remedies to consider issue of equity via QIP on February 9 -JK Lakshmi Cement to consider buy-back today -Motherson Sumi gets Delhi HC ok to merge 3 companies with self -Lone bidder, Welspun Infratech seeks Rs 479 crore grant for Vizhinjam Port - BL -Allcargo Logistics to consider de-merger of Non Vessel Operating Common Carrier (NVOCC) biz on February 14 -Pioneer Embroiders to allot preferential shares worth Rs 9.89 crore as part of CDR package
