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.
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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.

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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.

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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

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