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Stocks in news: Oil India, Network 18, Hero Motocorp
Oil India | EID Parry | Shasun Pharmaceuticals | SRS | TRF | IRB Infra | Reliance Power | Hero MotoCorp | Tulip Telecom | Bhushan Steel | Ashok Leyland and Network 18 and Reliance Industries are stocks, which are in the news today.
Reliance to invest Rs 1500 crore in TV18 group - ET -Network 18 and TV18 board meet today to consider rights issue
Oil Ministry says not taken any view on petrol price hike yet Sources say - HPCL and BPCL also decide not to hike petrol prices - IOC , HPCL & BPCL chairmen to meet on Wednesday -OMCs were seeking Rs 2/litre petrol price hike -IOC decides not to increase petrol prices this fortnight -Oil companies' current revenue loss on kerosene Rs 28.50/litre -Oil companies' current revenue loss on diesel at Rs 11.30/litre -Oil companies' current revenue loss on LPG at Rs 326/cylinder
Ashok Leyland December sales 2011 -Good growth seen due to the launch of new LCV Dost in October 2011 -Dost sold 1099 units in December 2011 -Total sales up 20% at 9088 units vs 7568 units YoY -Total sales up 28% at 9088 vs 7061 units MoM -Adjusting for Dost - sales up 6% YoY and 13% MoM at 7989 units
Ratan Tata says -Many countries have recovered from global slowdown -Global slowdown hit international currency markets -India fortunate to show continued economic growth & consumer demand -Political conflicts, policy uncertainties have hit investment -Investments have slowed down in infra sector -Tata group revenues grew to USD 83 billion in 2011 -Revenues driven by TCS & sales increase of JLR -Drop in sales of steel in west Europe a depressing factor -Investigative agencies found no evidence against Tata Group -Troubled times will most certainly continue in 2012 -To pursue vigorous cost cuts to combat high input costs
Finance Secretary R Gopalan says -India's exposure to European banks very small -European entities including banks owe USD 2.4 billion to India as on June 2011 -Indian corporates, banks to repay USD 14 billion to European banks in 2012 -Total Trade Credit Of USD 2.4 billion to Europe -USD 20 billion FCCBs of Indian companies maturing in 2012
Chief Economic Adviser, Kaushik Basu says -Will not make fiscal deficit target of 4.6% -Need to replace useless subsidies with infra spending -Can't agree there is mockery of petrol deregulation -Expect a growth upswing in Q4 -Expect uptick in growth rates all of next fiscal -Do not think we will reach 8.5% growth rate next year
Other stocks and sectors that are in news today: -Bhushan Steel puts Rs 20000 crore Bengal steel plant on hold - ET -Qualcomm offers to clear Tulip Tele's dues, seeks BWA licence - PTI -Hero MotoCorp December total vehicle sales up 7.8% at 5.4 lakh units (YoY) -Reliance Power, Shell plan east coast LNG unit - ET -IRB Infra to seek Rs 70 crore damage from NHAI for shelving project - ET -TRF buys balance 49% stake in Sri Lanka co for USD 8.33 million -SRS open its new retail outlet admeasuring 6250 Sqft at Crown Plaza Faridabad -EID Parry - Temporary closure of 2 units due to Cyclone (Area of Cuddalore, Pondicherry) -Shasun Pharmaceuticals - Temporary closure of unit due to Cyclone (Area of Cuddalore, Pondicherry) -Diamond Power Infra purchases 6.3 MW Windmills near Kandia, Gujurat from Suzlon Energy -PE Jacob Ballas to invest Rs 200 crore in Religare Finvest Ltd and will be in the form of compulsory convertible preference Shares -Oil India Interim Dividend of Rs 25/ share -F&O Ban: Ruchi Soya
(Note: Web18, which owns Moneycontrol.com and Indiaearnings.com, belongs to the Network 18 Group).
