Stocks in news: Mangalore Chem, Elder Pharma, Infosys

Here are stocks that are in news today:

Results today – Infosys, South Indian Bank, Sintex Industries

Oil Minister M Veerappa Moily
-Sought more oil import from Iraq against 20 MTPA (million tonne per annum) now
-No question of reviewing decision on gas pricing
-Gas price formula will be applied uniformly
-No proposal to cap natural gas prices
-Govt not mulling any change in new gas price regime
-Indicative gas price for April-June 2014 is USD 6.83/mmbtu
-Market calculation of USD 8.4/MMBTU incorrect

Mangalore Chemicals and Fertilizers (CMP Rs 68, up 10 percent)
-Zuari Agro buys 30 lakh shares i.e. 2.5 percent stake at Rs 68/share
-2.5 percent stake for a total outgo of Rs 20.4 crore
-Post the move stake in company at 16 percent
-Reliance Capital sells 15 lakh shares i.e. 1.3 percent stake at Rs 68/share
(No mention of Reliance Capital holding in March SHP filing)

Elder Pharma:
-Board okay’s plan for restructuring operations to reduce debt
-Company to raise capital via hiving off assets/other strategic options
-Sanofi top bidder for Elder Pharma biz – ET

Apollo Tyres CFO to CNBC-TV18:
-No question of rethinking on Cooper Tire deal
-'Did our homework well before announcing Cooper Tire deal'
-Raised debt limit last year for expansion plans
Alert: Company had raised debt limit to USD 830 million from USD 530 million in April 2012
-Expect commodity price to moderate going forward
-Expect significant increase in rubber supply over next few years
-Additional supply of rubber will keep prices soft
-Rubber prices in Southeast Asia remain at record lows
Alert: Analysts feel any hike in rubber costs to hurt company margin
-Leverage taken for acquisition split across entities
-These entities have cash flows to service the debt

Cipla has come under the scanner of the regulator for failing safety and efficacy tests: BS
-Samples of Cipla’s Ibugesic 200 and 400 picked up by drug inspectors last month were found to be of substandard quality
-Regulator is likely to take action against the firm

HPCL signs joint venture with Rajasthan to set up Rs 37,230 crore refinery at Barmer
HPCL says
-In JV with Rajasthan government to set up 9 mtpa refinery at Barmer
-Company and Rajasthan government to hold 74 percent and 26 percent stake respectively

Hindustan Media Ventures (CMP Rs 115.5, down 9.5 percent)
Offer for sale (OFS) subscribed one time
-HT Media divests 19.39 lakh shares in Hindustan Media Ventures
-19.4 lakh represents 2.64 percent of the equity share capital of Hindustan Media Ventures
-HT Media holds 76.94 percent stake in Hindustan Media Ventures
-Final indicative price was at Rs 120/share same as the floor price

HDIL versus MIAL case likely to be taken up today
-Case was yesterday postponed till today

Ex-Dividend
-Dr Reddys Labs - Rs 15/share
-Blue Dart – Rs 71/share

Other stocks and sectors that are in news today:
-Wockhardt: UK's Medicines and Healthcare products Regulatory Agency (MHRA) issues precautionary recall of medicines manufacturing by company: Reuters
-Liberty Media in talks for stake buy in Bharti DTH – ET
-KEI Industries allots 35 lakh equity shares at Rs 14/share and 35 lakh warrants at Rs 14/warrant on preferential basis

Textiles Minister to CNBC-TV18:
-Will write-off principal amount for handloom sector loans
-Working on total interest waiver for handloom sector loans
-Will address labour issues in textile sector
-Handloom sector loan write-off could be about Rs 3,400 crore
-Hiked textile export target to USD 43.5 billion from USD 36 billion for FY14
-Raised textile sector labour issues in cabinet
-Spoke to banks on financing problems of textile sector
-'We have potential to overtake China in textile exports'
-Will allow women to work in night shift in textile units
-Visited all major textile centres since taking charge
-Interacting with all sections of textile industry

Tata Chemicals MD to CNBC-TV18:
-GOI's move to keep gas input rate separate for urea companies positive
-Awaiting details from finance ministry on how input price to be decided
-Power companies being given priority on gas allocation a concern
-Urea industry must be given gas on first priority
-Govt should not have tried and tested policy for urea industry
-Diverting gas from urea industry to impact local production by 3 mt
-Have raised our concerns with govt