Here are stocks that are in news today:
Fitch revises India outlook to negative, affirms rating at ‘BBB-’
Fitch
-Revises 7 Indian state-owned enterprises' outlook to negative
-Revises ratings of REC , PFC , GAIL , IOC , NTPC , SAIL , NHPC
Fitch Ratings director says
-India's economic prospects have weakened
-GoI facing a tough time in improving the investment climate
-India can be downgraded in 12-24 months if action not taken
-RBI has delicate balance to maintain and be mindful of Inflation
FM Pranab Mukherjee says
-Fitch ratings outlook revision based on older data
-Fitch ratings outlook cut ignored recent positive economic trends
-Government has already taken note of those concerns
CCI report on cement cartelization likely today (Cement ( ACC , Ambuja Cements etc) stocks to be in focus)
-CCI may impose a penalty of up to 10% of average turnover in the preceding three financial years
PMO
-Steps in to resolve FSA related issues
-To discuss 9-point agenda including FSAs, de-allocation, auction policy
-To meet Coal Ministry officials, Coal India (CIL) CMD on June 22
-Meeting to be chaired by Principal Secretary Pulok Chatterji
Govt sources say
-Coal Ministry wants removal of 3-year moratorium on FSAs
-Coal Ministry wants trigger level to be lowered to 65% from 80%
-Coal Ministry in favour of pre-2009 level of penalty
-Coal Ministry backs Coal India's openness to import coal
-CIL believes pool pricing will lead to cross subsidising
-Cross subsidising to help private sectors power plants
Govt sources say
-Oil companies to review petrol price cut in couple of days
-No decision yet on cutting petrol prices
Other stocks and sectors that are in news today:
- Reliance Industries (RIL) proposes to drill exploration well in D1, D3 gas fields: PTI
- Coal India signs fuel supply pacts with 27 power units: PTI
- Infosys may cut guidance again on forex volatility: (ET)
-Tatas, Sterlite , Adani and others are under the CBI lens for the allocation of 64 coal blocks between 2006 and 2009: (ET)
- ONGC ’s ONGC Videsh and GAIL have dropped their plans to bid for UK based Cove Energy: (ET)
-CCD founder VG Shiddhartha has acquired additional 3.84% stake in Mindtree , raising his stake to 21.63% in the company
-Domestic carriers have cut airfares by 5-20% after being pressured from the regulator: (ET)
- DLF seeks shareholder approval to sell its wind power unit: (ET)
- McLeod Russel is planning to take its tax battle to the Supreme Court regarding the retrospective tax amendments: (FE)
-Spectrum EGoM likely on June 21: Sources
