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Stocks in news: Nitesh Estates, Force Motors, Kingfisher
Jet Airways | Amtek Auto | Avantel | Zandu Realty | GTL | Nitesh Estates | Phoenix Mills | Force Motors | Maruti and Kingfisher are stocks, which are in the news today.
Kingfisher turmoil -Rumors of Malvinder Singh likely to invest in Kingfisher Airlines are doing rounds in the market (BS) -DGFT says Kingfisher Airlines ATF plea not received (Mint)
Cabinet note for aviation FDI sent to ministry: Sources -Finance Ministry supports 26% stake for foreign carriers -Finance Ministry also mulls 49% for foreign carriers -Finance Ministry may push for higher stake than what DIPP suggested -DIPP pitched for 26% as it allows special resolution -Civil aviation ministry suggests only 24% for foreign carriers
Maruti Suzuki : Agencies -Do not expect sales volume growth in FY12 -See Indian auto industry sales volumes growing 2-3% in FY12 -Hope to start buying diesel engines from Fiat -Trying to build export market beyond Europe
Force Motors CMP: Rs 501, M-cap: Rs 653 crore -Force Motors to sell stake in JV with German Co MAN for 150 million Euros -Prior to deal, MAN held 50% stake in JV with Force Motors -To sell & transfer: 5.5 crore shares
Other stocks and sectors that are in news today: -F&O Ban: Gitanjali Gems, RuchiSoya, Suzlon -Scheme of Arrangement: Jindal Saw F&O contract inclusion w.e.f today -EGoM meet to decide on sugar exports today -Phoenix Mills converts high cost debt into a lease rental discounting loan worth Rs 575 crore (ET) -JP Morgan Fund buys 45% stake in Nitesh Estates SPV for Rs 204 crore - ET -Zandu Realty in deal with Sheth developers to develop a property in Mumbai (Mint) -Banks ready to cut rate by 2% for GTL; asks the company to bring in 15% of debt as equity to facilitate CDR (FE) -Avantel buy back at maximum price of Rs 70/share (CMP: Rs 52.70) -Amtek Auto buy back at maximum price of Rs 200/sh (CMP: Rs 101.30) -Auditors say Jet Airways needs to raise money to meet its obligations & fund Jet Lite -Tata Sons lines up bonus issue in 5:1 & board also recommends 800% dividend
