Here are stocks that are in news today:
AV Birla Nuvo looking to rework Pantaloon 's deal value post more than anticipated decline in first quarter results: TOI (Valuations dip could be 5-10%) -AV Birla had agreed to buy 50% stake for Rs 800 crore + Rs 800 crore of debt)
Jaiprakash Associates launches FCCB issue of upto USD 200 million
-Barclays Bank and Standard Chartered Bank joint lead managers for the offer
Finance Ministry sources say:
-FM to shortly review policy for banking licences
-Keen to review financial inclusion norms as per size of bank
-RBI requested to cut rural branch need to 15% from 25%
-Minimum capital, FDI, promoter definition to be reviewed
CAG faults ONGC for lack of effort
ONGC CMD on CAG report
-Too early to react to the CAG report, need to study it
-Company's performance speaks for itself
-Production from D1 to commence in January-February 2014
United Breweries -Mulling amalgamation with Scottish & New Castle (India)
-To seek shareholders' nod for amalgamation on September 24
MERC increases fuel adjustment cost (FAC) ceiling to 20% from 10%
-Electricity bills likely to go up from next month in Maharashtra
SEBI approves partial fungibility of Indian depository receipts
-SEBI okay’s fungibility of up to 25% of originally issued IDRS/Year
Moody's affirms Vedanta's ratings; outlook remains negative
Vedanta Chairman:
-Company delivered strong performance in FY12
-Remain committed to maintain a strong balance sheet
-Q1 result shows strong production ramp-up at oil & gas operations in Rajasthan
-Cairn India performing well with production at Rajasthan oil fields up by 40% since acquisition
-Look forward to realising potential of Cairn India asset
-Even if market looks challenging, group well poisoned for growth
-Fundamental demand for commodities remains sustained
-Demographic trends within India will continue to drive growth
FM says
-To achieve budget target of Rs 5.05 lakh crore indirect tax collection
-April-July figures do not reflect trend for this fiscal
-Confident that collections will improve from August
-Assured chief commissioner’s powers will be decentralised
-Have to be firm with non-compliance
-DTC requires a fresh look
-Confident of reaching agreement on GST by FY13-end
-Will decide on implementation of GAAR post Shome Commission report
Other stocks and sectors that are in news today:
- Bharat Forge in talks to sell stake in wind energy arm Kenersys for USD 300 million: Agencies
- HPCL hikes CNG prices by Rs 3.9/Kg in Ahmedabad to Rs 56.90/kg: PTI
- JSW Steel shelves plan to raise USD 275 million via ECB
- Tech Mahindra in talks to buy Bharti arm Comviva Technologies: ET
- GMR to sell minority stake in GMR Infra, 49% in GMR highways to pare debt: BS
- Sesa Goa to buy stake in Goa Energy from Videoco n for Rs 53.7 crore: PTI
-Sun Pharma receives US FDA permission to resume production of two products at its sites in Michigan
-Aditya Birla gets CCI approval to buy 27.5% stake in living media: PTI
- NMDC seeks shareholders' nod for buyback
- Fedders Lloyd gets order worth USD 18.58 million from Nigerian company
- Uttam Sugar Mills okays 12-for-25 rights issue at Rs 22/share
- Escorts to hike tractor prices by 2-3% from September 1
- Bajaj Finserv board to meet today to consider rights issue
-CIC Energy shareholders approve Rs 600 crore acquisition by JSPL : ET
-Tata Steel ups stake in Tata Sponge Iron by 11.26% to 51% (this is post the open offer)
-CBI may register cases against 6 companies in coal blocks case this week: PTI
