Here are stocks that are in news today:
Kingfisher woes continues
-Cancels several flights over the weekend
-Kingfisher Airlines CEO Sanjay Aggarwal will appear before DGCA today on flight restoration plan
-Domestic fares up 10-20% post KFA cancellations
Aviation Ministry says:
-Government will have no bail out for Kingfisher
-Banks will have to decide on how much money they can give KFA
-KFA did not inform DGCA as per rules
-Will wait till DGCA report on KFA cancellations
-KFA & other airlines under financial stress
-Cannot comment on timeline for cabinet note for aviation
-Foreign airlines will take their time to invest in India
-FDI in aviation will not happen overnight
-Commerce ministry has to move aviation FDI cabinet note
-No court challenge exists on airport user charges
Vijay Mallya says: Network18 Exclusive
-Company is not in a comfortable cash position
-Requesting working capital from consortium bankers
-Government said they would allow FDI & fuel import
-Company is co-operating with tax authorities
-Company has cooperated with DGCA and will continue to do so
-Needs government's support to fix the problem
-Company's bank accounts have been frozen suddenly
-If accounts are kept frozen then it will affect company
-Did not ask for a bailout, just a level playing field
KFA lenders: Sources say
-Lenders give in-principal nod to SBI caps viability report
-Lenders to take a final view on new restructuring package by next week
-Viability report suggests long term loan worth Rs 1,000 crore
-Working capital loan of Rs 440 crore, equity infusion of Rs 1,500 crore
Essar Oil Q3
-Net loss at Rs 3,986 crore vs profit of Rs 273 crore (YoY)
-Exceptional loss of Rs 4,015 crore on sales tax benefit reversal
-Revenue at Rs 13,897 crore versus Rs 13,809 crore (YOY)
-GRM at USD 6.07/barrel versus USD 7.21/barrel (YOY)
-EBITDA at Rs 490 crore versus Rs 827 crore
Essar Oil says
-Mulling equity infusion to boost net worth, liquidity
-To expand refinery capacity to 20 mt by September 2012
-Await SC decision on review petition for sales tax case
-Continues to build in sales tax benefit in GRMS
-Asked Essar energy to convert FCCB of Rs 1,396 crore into equity
-Has tied up ultra heavy crude from Latam, Middle East
-Dues towards Iran oil imports at about USD 1.2 billion
Crisil Q4
-Consolidated net profit at Rs 56 crore versus Rs 50.5 crore (YOY)
-Consolidated net sales at Rs 218 crore versus Rs 176 crore (YOY)
Thomas Cook says
-Stake sale to be completed by Mid-2012
-Hope to maintain FY13 margin at current level
Other stocks and sectors that are in news today:
- United Spirits board approves conversion of FCCB worth USD 175 million
- Reliance Power got Rs 24000 crore govt favor – CAG – TOI
- Sun Pharma Advanced Research plans rights issue – BS
-IRDA frowns PNB plans to buy 30% in Metlife for Re 1 – BS
- Reliance Communications may use single vendor to manage USD 3 billion outsourcing contract for 5 years – BS
- Shriram EPC converts dues of Jayajothi Cements into equity, takes majority stake, may rope in Portugal’s Cimpor
- Asian Granito enters into JV with Italy based Panaria Group for marketing and sales of tiles
- Syndicate Bank to raise equity cap by issue of shares on preferential allotement to GOI/LIC
- Electrosteel Casting receives MOeF clearance for its iron ore mines located at Jharkhand
-19% import duty likely on power equipment for mega projects- BL
- Marico looks to divest 3 non-focus brands, seeks buyers for Camelia, Aromatic and Revive - FE
- Allahabad Bank board meet tomorrow to consider preferential issue
-Stock in F&O ban includes Alok Textiles, ABG Shipyard and IFCI
