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Stocks in news: SBI, VA Tech, RComm, Dabur, DRL, SKS Micro
Nagarjuna Fertilizers | VA Tech Wabag | Neyveli Lignite | Reliance Comm | Dabur | Dr Reddy's Labs | MOIL | Bharti Airtel | Indiabulls Power | ONGC | SKS Mircofinance | SBI and Maruti are stocks, which are in the news today.
EGoM -Clears 5 lakh tonnes of additional sugar exports -Minimum export price of non-basmati rice reduced to USD 650/tonne
SBI says -Net interest income at all time high -CASA ratio at 47.89% -Hike in base rate expected to further improve margins -Govt to put in substantial money for rights issue -Would not prefer to go for FPO or QIP -Expect NIMs of above 3.5% for FY12 -Exposure to Air India at Rs 1,100 crore -Exposure to GTL at Rs 260 crore -Expect FY12 deposit growth at 20-21% -Expect FY12 credit growth at 16-18% -Expect net profit of Rs 2,500 crore in Q2 -Expect operating profit of Rs 7,000 cr in Q2 -Expect provisioning of Rs 2,500 crore in Q2 -Expect govt to infuse Rs 5,000-9,000 crore capital
Tech Mahindra says -Discretionary spend in western markets continues to be low -Believe long-term demand intact' -Have maintained steady growth this quarter -Added 4,517 employees in Q1 -Debt as on June 30 at Rs 1,282 crore -Cash and cash equivalent at Rs 194 crore as on June 30
Ratan Tata on Tata Motor says -Have started selling Nano in Sri Lanka, Nepal -Targeting Indonesia & other Southeast Asian countries -Car prices up due to inflation in steel, rubber prices
RBI Governor, D Subbarao Says -Low US rates to have implications for India -Dealing with complex mix of supply shocks, demand -Need to sacrifice some growth to tame inflation -Need to lower inflation expectations -Too early to say if RBI will change policy stance
RC Bhargava Maruti Suzuki says -Rising fuel cost will lead to demand for small cars -Q2 sales will be better than Q1 -Not going to launch car priced at Rs 1 lakh; no new Maruti 800 -New plant to have maximum capacity of 1 million units -Production cut on all models, except Swift & Swift Dzire
Other stocks and sectors that are in news today: -IPO Corner: Brooks Laboratories IPO with a price band of Rs 90-100/sh opens today -Board members of SKS Microfinance want Vikram Akula to step down as Executive chairman (ET) -Lavasa Corp agrees to accept all the five preconditions specified by environment ministry (BS) -GoM meeting on coal likely to be held on August 24 to resolve issues hurting the production of the fossil fuel in the country (Mint) -ONGC has cut the size of its FPO by 15-20% expecting to raise about Rs 9000-10000 cr only (TOI) -Indiabulls Power plans to foray into renewable energy to diversify its portfolio with an investment of Rs 300 cr in wind power projects (ET) -Telecom Ministry asks Bharti Airtel to give at least 20% dividend to public sector TCIL which holds 30% in Bharti Hexacom (ET) -MOIL is seeking a hike in duty on import of ore to counter cheap imports creating oversupply situation (DNA) -UIDAI has shortlisted TCS , Wipro , HCL Infosystems , Tech Mahindra and Mahindra Satyam for contract worth Rs 2000 cr - FE -Haryana govt rejects Maruti second union -Dr Reddy's Labs recalls fresh lot of Cholestrol drug in US -GMR Looking at EM's for Airport Biz -Reliance Comm Increases call tariff by 20% - BS -Dabur promoters in talks with Syndicate Bank to sell the 35% stake held by him in Aviva Life Insurance - FE -Neyveli Lignite FPO likely this year - BL -Ex Stock Split: VA Tech Wabag Stock split From Rs 5/sh to Rs 2/sh -Stock Split: Nelcast from Rs 10/sh to Rs 2/sh w.e.f Sep 6 - Nagarjuna Fertilizers trading to be suspended w.e.f August 29 due to scheme of arrangement & amalgamation -F&O Ban: Deccan Chronicle, Gitanjali Gems, KS Oils, Suzlon
