Here are stocks that are in news today:
HSBC Bank Mauritius to sell its stake in Axis Bank & Yes Bank : Sources
-Stake sale via accelerated book building route
-Axis block deal: 1.96 crore shares, price band at Rs 950-970.9/share
-Axis block deal to be valued around USD 326-333 million for 4.75% stake
-Yes block deal: 1.68 crore shares, price band at Rs 318-324/share
-Yes block deal to be valued around USD 93- 98 million for 4.75% stake
Jaiprakash Power OFS (offer for sale)
-To issue 2.9 crore shares (changed from 5 crore shares)
-Floor price at Rs 33.5/share
-OFS issue opens on June 29
-Goldman selling broker
JSW Steel maturity date of FCCB redemption today
-Outstanding FCCB's worth Rs 2170 crore (around USD 380 million)
-In February 2012, JSW steel had raised ECB loans of USD 275 million
Brigade Enterprises signs JV deal with Govt of Singapore
-Brigade to invest Rs 100 crore in JV
-JV to develop residential projects
-Expect revenues of Rs 700 crore in next 3-4 years
Other stocks and sectors that are in news today:
- Marg Ltd: Marg Karaikal Port attracts equity investment of Rs 130 crore (Market cap Rs 316 crore)
- Hindalco raises Rs 1500 crore via NCDs
-DoT plans to impose Rs 600 crore fine on Reliance Communications : ET
- NTPC agrees to sign fuel pact with Coal India at a minimum assured supply of 65%: PTI
-Tata Sons hikes stake in Indian Hotels by 4.78% to 24.36% for Rs 497 crore
- Bosch will temporarily shut today its Jaipur and Bangalore plant to prevent inventory pile up
- Ashok Leyland plans to introduce small goods carriers and expand abroad: Agencies
-Blackstone and KKR are eyeing a stake in cement unit of Shriram Group: TOI
-Mitsui Sumitomo Insurance picks up 26% stake in Max New York Life Insurance for Rs 2,731 crore (only deal got concluded yesterday)
-Sandoz Pharma petitions the FDA on Ranbaxy failing to obtain approval for generic version of Nexium
-Petrol price may be cut by Rs 3 per litre: TOI
-RINL roadshow starts today: Bloomberg
Chief Economic Advisor Kaushik Basu says
-Currency futures restriction can curb forex manipulation
-Futures markets serve many valuable functions; must not jump to policy conclusions
-Possible to manipulate currency market for profiteering
-Deep pocketed profiteers deliberately distort exchange rate
-Emerging economies central banks have little notions of manipulators
-Central banks of emerging economies inadequately dealt with problems
-Lack of clarity in two ubiquitous mistakes
-Mistake is to regulate inadequately & have no impact
-Poorly targeted controls inflict collateral damage
-Basu makes veiled criticism of forex management strategies
Spectrum EGoM to be reconvened by July 5: Sources
-Cabinet note on spectrum pricing to be delayed
-DoT to wait for finance ministry, law ministry views
-Chidambaram & Anand Sharma’s names discussed for EGoM
-Sharad Pawar also considered to chair spectrum EGoM
-Ministries yet to comment on draft cabinet note
Draft Cabinet Note
-Proposes levy of market spectrum price on all telcos
-Market price may be charged for spectrum above threshold
-Market
