Here are stocks that are in news today:
Jindal Steel & Power (JSPL) under scanner for buying ore below market rates
Odisha Government:
-Orders stoppage of operations at Keonjhar Mines
-Mining lease for Keonjhar Mines with Sarda Mines
-Sarda Mines supplies ore to JSPL
Kingfisher Airlines (KFA) crisis update
-Talks between management & employees fail
-Staff to continue with strike
Strike includes pilots, ground staff and cabin crew
-Meeting of KFA employees, senior management begins
-Senior management includes CEO Sanjay Agarwal, CFO Ravi Raghunathan
June cement total sales
- ACC at 1.96 mt versus 1.91 mt (YoY)
- Ambuja Cements at 1.79 mt versus 1.67 mt (YoY)
GlaxoSmithKline Inc to pay USD 3 billion settlement in diabetes drug Avandia case
-US Court ruled on Thursday that insurance company Humana can sue GSK to recover costs incurred by Medicare patients who used versions of Avandia
Other stocks and sectors that are in news today:
- GMR to swap its minority stake in the Indonesian firm with 29.2% stake in United Fiber (GMR holds 30% stake in Indonesia firm): VC Circle Exclusive
- GVK ’s USD 10 billion coal project may get Australian environment clearance: PTI
-GVK Plans to raise Rs 3500 crore from airport stake sale: BS
-ENI stake in HOEC up for grabs, bankers approach ONGC : Mint (ENI holds 47.16% stake)
- Godrej Properties signs Rs 770 crore equity commitment with global investors: Reports
-IT companies in focus: US Senate to consider bill to bar outsourcing by US companies into Indian: ET
- MTNL received Rs 152.5 crore as refund from the IT Department
- NMDC considering and looks set to exit from ICVL: PTI
- JK Tyre says raised commercial vehicle tyre prices by 1% from July 1
- Gabriel India approved bonus issue in the ratio 1:1
- Hero MotoCorp total sales at 5.34 lakh units versus 5.12 lakh units (YoY)
- Grasim stops production at its fibre plant in Nagda, MP due to water shortage
Pharma panel to meet on Tuesday to review exports strategy
-Meeting to be chaired by Anand Sharma
-To deliberate on promoting R&D, innovation
Cabinet DoT: Sources
-To mull four options on prospective spectrum pricing on Tuesday
-Four options include charging telcos for entire spectrum held
-Four options include not imposing prospective payment at all
-Four options include charging telcos for spectrum beyond 4.4 MHz
-122 cancelled license holders to pay for entire spectrum
-6.2 MHz spectrum is contracted for by the government
-DoT favors prospective charge to provide level playing field
-Prospective charge to affect licensees not impacted by SC order
-Prospective charged to be based on auction determined price
Inter-Ministerial Group (IMG) to review development of coal blocks on July 3
-IMG headed by Coal Ministry additional secretary Zohra Chatterji
-IMG includes secretaries of power, steel, law and DIPP
-Currently 20 blocks are de-allocated
-IMG may consider replies to show-cause notices served
-Coal Ministry has issued SCNs to 58 coal block allottees
-IMG can recommend action against allocated companies
-Can consider de-allocation of the blocks
-May deliberate & recommend principles on de-allocation
-May recommend action on forfeiture of bank guarantee
COAI threatens to drag DoT to court
-COAI (Cellular Operators Association of India) says
-Auction TTSL’s dual tech spectrum
-SC order applies to spectrum granted on basis of January 10, 2008
-SC order cancellation of 122 telecom licenses
-COAI says non-cancellation of TTSL’s dual tech spectrum versus SC Order
