Here are stocks that are in news today:
RBI Credit Policy today
Tata Steel makes open offer in group company
-Open offer for up to 17.34 lakh shares (11.26%) of Tata Sponge at Rs Rs 375/share (CMP Rs 306.5/share)
-Tata Steel holds 39.74% in Tata Sponge
-Open offer for 1.46 crore shares (14%) of Tinplate at Rs 60/share (CMP Rs 46.8/share)
-Tata Steel holds 59.44% in Tinplate
SBI cuts lending rates by 50-350 bps across categories
-SBI lending rate cuts effective from June 1
SBI says
-Have kept base rate unchanged
-Revision in lending rates not applicable on retail loans
-Cut in lending rates may impact net interest margin by 10-15 basis points
Pratip Chaudhuri (SBI Chairman)
-Latest round of cuts are different from cuts undertaken in May
-'Will drop lending rates first if a 50 bps rate cut comes'
-Lending rates conditional on CRR cut
-Not committing to a base rate cut at this point
Petrol prices down by 92 paise at Rs 70.24 per litre in New Delhi: PTI
-Diesel prices up by 37 paise at Rs 41.28 per litre in New Delhi
-ATF price cut by a steep 5% in Delhi applicable June 16th
Tata Motors
-Seeing slowdown in demand for M&HCVs
-Plans to launch multi-axle variants of M&HCV
-Selling 4,000-5,000 units/mth of Ace Zip, Magic Iris
-Commercial vehicles operations margins intact
-To spend Rs 1,500-2,000 crore on CV operations in FY13
-CV units' capacity utilization at 70-80%
Presidential Elections 2012 Election Commission says
-June 30 to be last date for making nominations
-July 2 to be the date for scrutiny of nominations
-July 4 to be the last date for the withdrawal of candidates
-July 19 to be the date to take a poll, if necessary
Other stocks and sectors that are in news today:
- HCL Tech sets for rejig, rumors of Vineet Nayar quitting - TOI
- Lanco to exit hydro power biz, in talks with Norway’s SN Power - Mint
-Govt flags off process for 10% stake sale in NALCO
- Saint Gobain reject delisting (most shares were tendered at Rs 90/share, whereas the indicative price was Rs 31/share)
- Aban Offshore to sell power business, may fetch over Rs 550 crore - ET
-Volkswagen, Fiat planning to buy into US based Navistar - BS (M&H to be in focus)
- Coal India has cancelled supply contracts with 60 power companies - BS
- Shriram Transport plans to raise Rs 2,000 crore via NCDs’ - BS
- Piramal Healthcare is in talks to buy US based healthcare company called Cambridge Major Labs for USD 200 million - BL
- SKS Microfinance barred from operating in AP’s Mahabubnagar district for not following rules - BL
- Coal India may be asked to import 45mt more coal to meet the demand by power companies - BL
- India Infoline to soon close its Rs 700 crore realty fund - BS
-Govt hardens its stance, says Telcos will have to shell out 2G base price - FE
-Finance Minister rejects Petroleum Ministers proposal of tax hike on Diesel cars
- Allcargo Logistics to mull buyback of shares Wednesday
- Inox Leisure board approves merger of Fame India with itself
- VA Tech Wabag bags Rs 270 crore order from RIL
