Feb 25, 2013, 08.50 AM | Source: CNBC-TV18

Stocks in news: Ranbaxy, GMR, ONGC, Orient Green, Bharti

Ranbaxy | GMR Infrastructure | ONGC | Magma Fincorp | Colgate | Orient Green Power | Hero Motocorp | Bharti | Tata Communications and Jet Airways are stocks, which are in the news today.

Here are stocks that are in news today:

Results Today: Pantaloon Retail

RBI release new banking licence norms
-RBI does not exclude companies in any specific sector for banking licence
RBI on banking licence
-Deadline to apply for new banking licences is July 1
-Existing NBFCs eligible to apply for licence
-New banks must adhere to priority sector lending norms
-New banks' boards must have majority of independent directors
-Banks must set up at least 25 percent branches in rural areas
-Sound credentials, integrity must for banking licence applicants
-New banks must get listed in 3 years of starting operations
-Companies with 10 years sound financial track record eligible to set up bank
-PSUs eligible to seek new bank licence
-Non-operating finance holding company must be fully promoter-owned
-Non-operating holding company to hold 40 percent in new bank for 5 years
-Non-operating holding company to cut stake in new bank to 15 percent in 12 years
-Minimum paid-up equity cap for new banks at Rs 500 crore
-Private companies, NBFCs can set up bank via non-operating holding company
-Aggregate foreign stake in new banks capped at 49 percent for 5 years
-Prudential norms applicable on holding company, new bank
-Holding company, new bank can't have exposure to promoter group
-New banks biz plan must be realistic, viable
-Plan for new bank must cover financial inclusion
-New bank licence applications will be screened by RBI
-Banks' holding company will have to register as NBFC with RBI

Former financial services secretary: DK Mittal says
-Understanding between government, RBI to not disqualify sectors
-Up to the RBI to decide which entity is good & which is bad

CNBC-TV18 Exclusive: Finance ministry sources say
-Banking licence likely by the end of year
-RBI likely to give 4-5 licences

Banking secretary says
-Should hope for success with new bank licences by FY14-end
-India is under-banked, looking forward for applications
-RBI, Finance ministry on same page on new banking licence norms
-Don’t think PSU entities will have edge over private applicants
Diageo has no current plans to change open offer price: CNBC-TV18 Exclusive (sources)
-Diageo mulls removal of put option clause post SEBI observation
-SEBI had raised concerns on put option in share purchase agreement (SPA)
Diageo to CNBC-TV18:
-Have received SEBI's letter of observation
-In process of responding to SEBI's letter
Sources say:
-Diageo- United Spirits (USL) may meet lenders to discuss their concerns
-Up to UB Group to handle lenders queries on capital flow into Kingfisher Airlines (KFA)
-Diageo keen to complete deal within first two quarters of CY13
Diageo to CNBC-TV18:
-Not in a position to comment on issue related to lenders
CBI registers fresh case against Bharti Airtel & Tata Communications -Case against Bharti and Tata Communications under section 120b & 420 of IPC
-Allegedly companies' international call arrangement violated DoT norms
-Companies allegedly have illegal call arrangement with SingTel

Jet -Etihad deal in jeopardy: Sources
-Etihad unhappy with 'lack of control'
-Etihad insists on right of first refusal (RoFR) to hike stake to 49 percent
-Jet board meet cancelled last week due to Etihad's concerns
-Etihad board sought secondary sale, open offer in the deal
-Etihad willing to revive talks at later stage if demands met
-Jet unwilling to give operational, management control to Etihad

Tata Communications looking to raise Rs 1,000 crore via asset sale: CNBC-TV18 Exclusive (sources)
-Company has appointed 1 consulting firms to sell 5 properties
-5 parcels located in Mumbai, Chennai & Delhi
Alert: Tata Communications refused to comment
-Proceeds may be used for expansion plans, retiring debt

Talks between Hero MotoCorp management-workers end inconclusive
-Hero Motocorp Gurgaon workers mulling agitation from today
-Gurgaon workers to decide course of action over weekend
Wipro 's Azim Premji:
-Transferred 29.5 crore (12 percent) shares of Wipro to irrevocable trust
-Post transfer, trust's stake in Wipro to go up to about 19.93 percent

KSB Pumps Q3
-Net profit at Rs 19.5 crore versus Rs 16.2 crore (YoY)
-Net sales at Rs 196.2 crore versus Rs 226 crore (YoY)

Other stocks and sectors that are in news today:
- Ranbaxy says resuming manufacture of generic Lipitor for US: Reuters
-Shriram group shortlists Blackstone, CVCI (Citi Venture Capital International) to sell its stake in Sree Jayajothi Cements: TOI
- GMR keen to sell its Singapore plant, in talks with SE Asian utilities to raise USD 650 million: ET
- GMR looking to sell its stake in SA based coal producer Homeland Energy, company denies any such plans: DNA
- ONGC refuses to share cost of future exploration in Rajasthan ET (holds 30 percent in Cairn India operated Rajasthan oil field)
- Lanco Infratech asks UP discoms to buy out its Anpara C Plant: FE
- Magma Fincorp seeks board nod to issue non-convertible preference shares; preferential shares to be worth Rs 150 crore
- Colgate says to double distribution coverage in rural India in next 3 years
- Orient Green Power to seek shareholders nod for allotment of shares via preferential issue: open offer for 26 percent stake in Orient Green Power at Rs 15/share
- Hitachi Home sets issue price of Rs 130/share for equity shares; equity to be allotted via

Set email alert for
Future Retail United Spirits Kingfisher Air
Bharti Airtel Tata Comm Jet Airways
Hero Motocorp Wipro KSB Pumps
Ranbaxy Labs GMR Infra ONGC
Cairn India Lanco Infratech Magma Fincorp
Colgate Orient Green Hitachi Home


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