Jun 11, 2013, 09.02 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.

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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Videocon Ind ONGC Oil India
Jet Airways HDFC Bank Axis Bank
ICICI Bank MTNL JSW Energy
Elder Pharma Larsen GMR Infra
Eicher Motors Assam Company Tata Steel
Cadila Health Tata Coffee

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