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Stocks in news: KFA, RIL, Lanco Infra, Alok Ind, Coal India
Kingfisher Airlines | M&M | BHEL | Tata Motors | RIL | Lanco Infra | Elder Pharma | Alok Industries | Dish TV | Sanwaria Agro | Gammon Infra and Coal India are stocks, which are in the news today.
Kingfisher turmoil -Kingfisher Airlines to sell property to fly out of debt crisis; board to discuss preferential issue & new lease plan today (ET) -To cut debt to Rs 3000 crore via sale of assets & cash reserves -Finance Ministry not in favour of banks bailing out Kingfisher -Rahul Bajaj says private sector should not be bailed out
SBI Chairman says -Given guarantee to oil companies on behalf of KFA -Have asked Kingfisher Airlines to bring in equity -KFA hoping for FDI policy liberalisation -KFA wants equity from foreign airlines -KFA debt to equity conversion an emergency step -No plan to further up equity in Kingfisher Airlines -Bankers to meet KFA' officials on Tuesday -Current exposure to KFA at Rs 1,500 crore
Coal India says: -H1 profit up 68% at Rs 6,737 crore (YoY) -Quantity of e-auction has risen, boosted realisations -Not much increase in volume growth -Growth being driven by price hikes -Coal price hikes will help neutralise increase in wages -Will have clarity on price hikes by December-end -Will use reserves to buy stake in overseas mining companies
Govt ups post office saving deposit interest rate to 4% -Aligns small saving plan interest rate to same tenure gilt -Ups ceiling on public provident fund to Rs 1 lakh/year -Commission payment on public provident fund discontinued -Ups interest rate on public provident fund to 8.6% -Commission on senior citizens' saving scheme scrapped -States' share in small savings mop-up cut to 50% from 80%
Housing Ministry uploads Draft Real Estate Regulator Bill on website -Each state to set up Real Estate Regulatory Authority -Regulator to comprise 1 chairperson, minimum 2 members -Draft bill says mandatory accreditation of all developers -To adhere to approved plans, project specifications -Allottee to stick to payment schedule -Allottee to pay interest in case of delay -Centre to set up Real Estate Appellate Tribunal -Real Estate Appellate Tribunal to hear disputes
Other stocks and sectors that are in news today: -Aviation ministry turns soft on foreign airlines entry; open to raising FDI cap upto 26% (ET) -OMCs may partially roll back petrol price hike next week; Oil retailers may cut petrol prices up to Rs 1/Litre: Sources -RIL, BP offer to share D6 Infra with state run companies; move could save to reduce development costs & raise govt's revenue from new output (ET) -Lanco Infra plans to spend upto Rs 24000 crore on capex despite coal issues (Agencies) -Elder Pharma plans to roll out 8 more products in FY12 (Agencies) -Banks refuse to disburse loans to power companies; want the companies to show steady supply of coal (BS) -Alok Industries in talks to sell Mumbai land; looks to bag around Rs 900-1000 crore for the deal (BS) -Dish TV to mop up around Rs 1000 crore by issuing shares to foreign investors (FE) -Coal imports 51% higher than last year (FE) -Sanwaria Agro Oils board meet to consider buy back -Gammon Infra gets letter of award worth Rs 316 crore from NHAI -IVRCL board approves merger of IVRCL ltd with IVRCL Assets & holdings -EPC Industries board approves rights issue worth Rs 50 crs -F&O ban: Gitanjali Gems
