Stocks in news: MMTC, Sun Pharma, Apollo Tyre, Samtel Color

Here are stocks that are in news today:

Apollo Tyres (Stock was up 3 percent at close)
-To acquire Cooper Tire in all-cash deal for Rs 14,500 crore (USD 2.5 billion)
-Acquisition of Cooper Tire largest deal in industry in India
-Cooper deal third major acquisition by company in last 7 years
-Cooper acquisition to make company 7th largest tyre maker in world
-Apollo & Cooper had combined sales worth USD 6.6 billion in 2012

Apollo Tyres says
-To raise USD 2.5 billion of new debt to fund Cooper Tire buy
-To raise bulk of debt through 7-8 year bonds
-To delist Cooper Tire after acquisition
-To raise USD 2.5 billion new debt
-No plan to close any manufacturing facility
-Currently India contributes 65 percent to total revenue
-Will have good foot in emerging markets post deal
-Have seen decline in sales in American markets
-'Have been selling Apollo brands in African markets'
-Rupee depreciation not to affect company directly
-Margins remain under pressure in India business
-Expect margins of combined entity to be in double digits
-Combined entity to have an EBITDA margin of 13.7 percent

Sun Pharma
-Reach settlement with Pfizer for Generic Protonix 
-To pay USD 550 million
-Sun Pharma’s cash on books around USD 1.3 billion, nearly 50 percent cash to go towards settlement
-Teva to pay Pfizer and Takeda USD 1.6 billion

MMTC offer for sale (OFS) today (CMP Rs 210)
-Floor price set at Rs 60/share
Alert: MMTC floor price set at 71.4 percent discount to current market price of Rs 210/Share
Alert: Govt to divest 9.33 percent stake via OFS today 

On cement cartel case: Supreme Court
-Directs cement companies to deposit 10% penalty amount with Competition Appellate Tribunal (COMPAT)
-11 cement companies to deposit approximately Rs 630 crore with COMPAT 
-11 cement companies including UltraTech, ACC, Jaiprakash Associates-11 cement companies including Ambuja Cement, Madras Cement
-COMPAT to keep penalty amount in interest bearing bank account
-11 cement companies to deposit penalty amount by June 24       
-Upholds COMPAT's interim order in cement cartel case        
Supreme Court says
-Competition Commission of India (CCI) penalty does not benefit consumer
-COMPAT may direct cement companies to compensate consumer 
-COMPAT may direct cement companies to sell cement at a particular price
-Not directing cement companies to sell cement at particular price
-Foresee practical challenges in directing companies to sell at particular price
-Open to tribunal to decide how consumers may benefit      
-Have not considered merits of cement cartel case
-Cement companies free to seek rectification of penalty amount

Oil Minister M Veerappa Moily to CNBC-TV18
-Every Re 1 depreciation (of rupee) means loss of Rs 9,000 crore for oil companies
-Finance ministry has assured rupee will stabilise in few days      
-PM has intervened; Kirit Parikh committee will give recommendations
-Kirit Parikh committee members finalised on Tuesday         
-Kirit Parikh report expected in 2-3 months
-Will not stop monthly diesel prices review on account of Lok Sabha polls
-Will try to take Rangarajan report on gas prices to cabinet next week
-No consensus yet on USD 6-7 gas price
-USD 6-7 gas price not so exorbitant for power, fertiliser ministeries
-ONGC Videsh's (OVL) Mozambique acquisition is in final stages
-Going seriously after OVL's USD 5 billion Kazak acquisition
-Have China as a competitor in acquiring stake in Kazak block
-Kelkar panel to decide on gas prices for beyond 12th year plan
-'Ready for IOC divestment from our side'
-Shale, CBM gas policy to be finalised in 20 days

Telecom minister Kapil Sibal says
-Group of ministers (GoM) held preliminary talks on MTNL, BSNL's financial condition    
-GoM to meet again to decide on MTNL, BSNL revival plan
-Next GoM to look at detailed presentation
-Immediate solutions important for revival of BSNL, MTNL

SC hearing on plea against Ranbaxy manufacturing License likely today
Alert: Earlier Apollo had banned Ranbaxy drugs for a day, SC had said will hear PIL against co this week

Ex-dividend
-Bank of Baroda – Rs 21.50/share
-HDFC Bank – Rs 5.50/share
-J&K Bank – Rs 50/share
-PNB – Rs 27/share
-Monsanto India - Rs 50/share
-Navin Fluorine – Rs 7.5/share

Other stocks and sectors that are in news today:
-Finance ministry sources say may announce measures for rupee today
-Political theater JD (U) to end alliance with BJP in next few days, Advani tries to allay fears
-United Spirits (USL) plans Rs 3000 crore capex – BS
-Oil India to buy Assam Petro for Rs 230 crore – BS
-Shriram Life may bid for HSBC’s 26% in Canara JV – TOI
-Relief for DLF: SC to hear crest matter of July 16th (Gurgaon Project)
-Transformers and Rectifiers to announce bonus in ratio of 1:9
-Hanung Toys CMP 110: Board approves stock split from Rs 10 to 5 
-Indraprastha Gas to buy 50 percent in Central UP Gas for Rs 69 crore
-L&T Construction bags Rs 900 crore contract from Wave Group's realty arm Wave Infratech
-Globus Spirits to mull buying major stake in Globus Trois on June 20
-Myers Tire enters into JV with TVS Auto; to distribute tools, supplies & equipment in Indian market
-ICRA places IFCI rating under watch with negative implications
-Samtel Color board to mull delisting of shrs from NSE Jun 19

Fitch revises India's outlook to stable from negative
-Fitch affirms India's ratings at BBB-
Fitch says
-Expect Govt to meet FY14 Budget deficit target of 4.8 percent      
-Revision of rating outlook reflects measures taken by GoI  
-See FY14 India GDP growth at 5.7 percent; FY15 at 6.5 percent
-Recent weakness in rupee may limit scope for more rate cuts     
-Sovereign rating constrained by structural deficit       
-Profitability of banks to remain under pressure   
-Do not see banks as material risks to macro stability  
                          
Coal scam update:
-CBI gets nod to question former coal secretary HC Gupta
CBI sources say
-To question Naveen Jindal upon his return from London
Alert: Naveen Jindal named accused in Coal scam FIR
-Have seized documents & PC hard drives during raids
-Docs Related To Investment, Property, Bank A/c Details

SEBI issues circular on enhancement in foreign institutional limits in govt debt       
-Additional USD 5 billion for SWFs, insurance, pension funds & multilateral agencies
Alert: SWF: Sovereign Wealth Fund