Stocks in news: HCL, Hindalco, ICICI Bank, Rel Comm

Nifty BSE | NSE 28/05/12 Are Mutual Funds betting on Nifty? Other Stocks in this news Hindalco Industries | ICICI Bank | CORE Education & Technologies |

Stocks in news:

Results today: Axis Bank, BASF India, Orbit Corp, Refex Refrigerants, Repro India, Tata Investment

HCL
-HCL EAS makes offer to Axon shareholders
-HCL to post offer document to Axon shareholders by October 24
-HCL EAS acquires 0.47% equity of Axon
-HCL offer conditional upon getting atleast 75% of equity
-HCL offer conditional upon closure of scheme by February 28, 2009

Hindalco: from Sources:
-Rights issue undersubscribed: sources
-Promoters and Merchant Bankers underwrite to reach 90% subscription
-DFI's unlikely to have subscribed given stock price and market conditions
-Promoters underwrite 50%, merchant bankers underwrite 40%: sources
-Merchant bankers unlikely to underwrite entire 40%
-Promoters likely to underwrite over 40%

Hindalco rights issue devolves, LIC stays away from issue as prices falls below the offer prices: BS

Tata Motors
-May set up car terminal at Mundra or Dholera port: NW18
-Eyes Ford's Mazda stake - Reports
Tata Motors rights issue may be in trouble - BS

ICICI Bank:
-S&P on ICICI Bank: Credit fundamentals remain sound backed by sound capitalisation of USD 10 billion
-Moody's reaffirms rating on ICICI Bank UK Plc Sr debt at Baa1
-Rules out cutting lending rates for customers post CRR cut
-UK's Prudential to stay committed to ICICI Bank JV
Bakrie may sell 10% stake in Bumi to re-pay ICICI Bank

Payment to Ranbaxy shareholder will begin from Tuesday, followed by promoters selling its 34.5% stake to Daiichi - ET

Core Projects down 44%, reports suggest investors who converted FCCB at Rs 167 (16.75 lakh shares were converted)

McKinsey sues Reliance Communication on consultancy dues,
-Reliance Communication says not clear whether Rs 27.13 crore is due for it or from Reliance Industries - DNA

Telecom:
-MTNL adds 38,478 GSM users in September versus 102,056 in August
-Spice adds 36,614 mobile users in September
-Idea Cellular adds 1.10 million mobile users in September versus 1.03 million in August
-Bharti Airtel adds 2.70 million mobile users in September; unchanged from August

HEG buyback opens today; to buyback up to Rs 48.5 crore up to Rs 350/sh

Alkali Metals IPO closing date extended to Octobre 15 from October 10; price band revised to Rs 86-103/sh from Rs 90-105/sh
-It was subscribed only 0.34 times till October 10

New listing: Chemcel Bio-Tech; issue price Rs 16 per share

Era Infra bags order worth Rs 41.8 crore from Delhi Metro Rail Corp

Orient Express:
-Shareholders defeat dissident shareholder proposal
-Alert: DE Shaw & Stephen Cohen proposed to convert class B shares into Tsry Stk

Ex-split: Provogue India in No-delivery period, out on October 13

Ex-split: AIA Engineering from Rs 10 to Re 2; goes into No-delivery period, out on October 20

Re-listing: Uniworth, Ashok Alco-Chem to resume trading from October 16

Cognizant re-affirms Q3 revenue guidance of USD 723 million and CY08 guidance of revenue 2.81 billion

Results:
Mastek Q1 consolidated (QoQ)
-Net profit at Rs 41.18 crore versus Rs 38.56 crore
-Revenues at Rs 261.65 crore versus Rs 249.84 crore