Here are stocks that are in news today:
Results today - Patni Computers
i-Gate approves Patni delisting at Rs 520/sh
Phaneesh Murthy says
-Banks have extended loan to USD 265 million from USD 215 million
-Think Rs 520/share price reasonable premium to Patni market price
-To spend USD 272 million on Patni delisting
-Have got USD 265 million bank loans for Patni delisting
-Received about 60% of the shares
-Had USD 7 million of cash in hand
-Delisting to take 2-3 weeks; no more hurdles expected
-Should get large chunk of shares by June
Textile Secretary says
-Export of revalidated cotton contracts will be allowed
-No additional import duty will be levied
Speculation of S&P downgrading India Ratings
-Finance Ministry aware of speculation on ratings downgrade
-Crucial meeting on Tuesday on Indian ratings outlook
-Finance Ministry to defend India's fiscal deficit road map to S&P
-Ratings revision on top of Finance Ministry & S&P meeting agenda
-Will explain & defend concerns over ratings outlook
-Will defend FY12 revised 5.9% fiscal deficit projection
-Agree that concerns exist over fiscal deficit projections
S Narsing Rao says (Acting CMD of Coal India )
-Every effort to be made to step up production
-Coal import will be the last resort
-Will have to see if MMTC & STC can import Coal
-Will be tough to meet FSAs demand in the first year
-Additional 64 mt Coal production must to fulfill FY13 FSAs
Government sources say
-Oil, Power, Coal Secretaries meet DoD Secretary on listing arms of CPSEs
Sources say
-Oil Ministry partially in favor of listing OVL
-Subsidiaries of NTPC, REC, PFC up for listing
Coal Min Sources Say
-Coal ministry not in favor of listing CIL subsidiaries
-DRHP does not mention listing of CIL subsidiaries
Bharti Airtel to unveil BWA service on Tuesday
-Bharti Airtel BWA service to be offered in Kolkata
ECBs in February
-Indian companies raised USD 2.6 billion in February via ECB, FCCBs
-Companies raised USD 863.8 million of ECBs in February via automatic route
-Companies raised USD 1.7 billion of ECBs via approval route in February
-95% of ECBs via approval route was by Telcos
-Vodafone Group companies brought in USD 750 million to replace rupee loans
-Reliance Communications brought in USD 925 million of ECB to redeem FCCBs
RBI says
-Market Stabilization Scheme (MSS) ceiling for FY13 fixed at Rs 50,000 crore
-To review MSS ceiling at threshold limit of Rs 35,000 crore
Other stocks and sectors that are in news today:
-CAG raps BEML for premature booking of Tatra trucks – ET
-Aditya Birla Group looking to acquire 26% stake in Living Media which owns 57.1% stake in TV Today - BS ( TV Today stock was up 15% yesterday on the buzz)
- ONGC - Teri JV bags USD 1 billion Kuwait oil spill clean-up order - BS
- Thomas Cook pegs 77% stake at Rs 1716 crore (Rs 105/share), Travelex top bidder- BS (CMP Rs 65)
- Ahluwalia Contracts has secured new orders aggregating to Rs 805 crore
- Alstom T&D India wins product package order worth Rs 74 crore
- KS Oils allots 3.38 crore shares to QIB at Rs 7.25/share
- Aventis Pharma stock goes ex dividend Rs 29 per share (Final Dividend)
- Tata Steel January-March Total Sales at 1.77 mt versus 1.71 mt
-Power Ministry sources say premature to decide on listing of subsidiaries, dialogue will continue
