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Dec 06, 2010, 08.42 AM IST | Source: Moneycontrol.com

Stocks in news: Tata Steel, Cairn, IDBI Bank, Hero Honda

Bank Of India | ICICI Bank | Sarda Energy | Sun Pharma | Hero Honda | IDBI Bank | Tata Steel | Hindustan Zinc and Cairn India are stocks, which are in the news today.

Stocks in news: Tata Steel, Cairn, IDBI Bank, Hero Honda
Here are stocks that are in news today:

Tata Steel in focus
-Riversdale Mining surges 12% after reports that Rio Tinto made a USD 3.5 billion bid for Africa-focused company;
-Tata Steel is the largest shareholder holding 21.15% stake in company ((means Rs 35/sh for Tata Steel))

RBI likely to relax 70% provisioning rule for banks
-RBI ED Anand Sinha said the central bank is working on a policy whereby banks will not be required to keep such higher provisioning against bad loans
-This can positively impact banking stocks

Anil Agarwal on Cairn
-Speedy closure of Cairn deal win-win for India 
-GoI should support transfer of Indian asset to Indian owner
-Believe GoI will honour contract; willing to allay any concerns
-GoI must see how we turned around Hindustan Zinc (HZL), Balco
-Have a proven track record; must be judged fairly
-One of the largest exporters from India; one of the largest employers in India
-Dont believe there is a political witch hunt on
-We have nothing to do with politics; we want to create big capital in India
-Will plough back profit from Cairn blocks back into company
-Have done the best we could for Cairn Deal; believe GoI will not hold up deal
-Foreign investors watching Cairn-Vedanta deal closely
-Foreign investors worried about delays, exit option
-Perhaps Vested Interests at play but have patience
-Shareholders across the world wondering about the delay
-Positive interaction with Ministries on Cairn-Vedanta Deal
-Believe in faith; whatever has to happen will happen
-Positive and confident about the deal closing
-Anyone can make a counter offer if they want; have paid top dollar
-Anil Agarwal is here to stay; will not leave India
On Langigarh Mines -
-Vedanta has complied with all rules
-Not a blade of grass has been removed
-l never flout any norms; I am more sensitive about the tribals
-Rahul Gandhi is not against development
On environmental clearance issue
-Jairam Raresh has given clearance for 40-50 projects
-Only 2 projects have been not cleared
-Its a democratic country; my agenda is not different than the government
-On Shifting to Gujarat & other states Well expand our base India inspite of everything
-Family has agreed to put 75% of wealth for philanthropic effort
On looking outside India we are like a river; will flow regardless of mountains
-We have a full 3 years plan and well stick to it
-Sterlite Energy IPO by early next year; waiting for SEBI approval
-Konkana Mines listing by early next year; Either on London Stock Exchange or NY stock exchange
-Konkana Mines likey to be listed in FTSE 100
Arbitration in HZL, BACLCO over; awaiting judgement
-Hope residual stake sale in HZL, BALCO will be complete  by Q1 next year
-Bullish on Commodity Prices; demand is high

ICICI ups deposit rates by 25 to 50 bps across maturities
-ICICI Bank ups PLR by 50bps
-ICICI base rate unchanged at 7.75%

Mines Ministry Says
-Have reached consensus on new mining draft bill
-New Mining draft bill to come up before cabinet soon
-Ministerial panel broadly okay with 26% profit sharing norm

DGCA says
-Have met low-cost airlines; will meet other carriers soon
-Have asked airlines to be transparent about bucket seats
-Have asked airlines to be more reasonable on air fares
CNBC-TV18 alert: SpiceJet, Go Air, IndiGo Management met DGCA today
*** Reports suggest Airlines set to cut fares by 25%

DoT - CNBC-TV18 exclusive: sources
-DoT likely to send notices to telcos by December 20: Sources
-DoT penalty to telcos will vary on case to case basis
-DoT mulling grant of additional spectrum to 3 operators

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