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Stocks in news: Shasun, DCHL, GRUH Finance, Educomp, Maruti

Sundaram-Clayton | Kalindee Rail | Shasun Pharma | Deccan Chronicle Holdings | GRUH Finance | Educomp Solutions | Jet Airways and Maruti Suzuki are stocks, which are in the news today.

July 09, 2013 / 09:56 IST
     
     
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    Here are stocks that are in news today:

    SEBI(to curb rupee speculation)
    -Curtails position limits and increase margin requirements for currency derivatives
    -Initial and extreme loss margins shall be increased by 100 percent
    -Gross open position at client level across all contracts not to exceed 6 percent of total open interest (OI) or USD 10 million
    -Gross open position for non-bank trading member shall not exceed 15 percent of total OI or USD 50 million

    Maruti Suzuki sources
    -Company shuts third shift at engine plant in Manesar
    -Company shuts third shift at engine plant due to low demand
    -Cuts production to align with demand
    -Asks over 200 contract workers to go on indefinite leave
    Alert - 1st large-scale downsizing by Maruti since Manesar violence
    -Overall production at SPIL (Suzuki Powertrain India - wholly owned subsidiary) down 30 percent plus over last 2 months
    Alert - Total capacity at SPIL at 3 lakh diesel engines annually
    -Production in July far below installed capacity of plant
    -'Market sentiment low; no option, but to ask some workers to go'
    -May not meet 5 percent growth target as economic environment is challenging

    Fresh questions over Jet Airways' commercial pact with Etihad: Sources
    -Questions on amended, restated commercial co-operation agreement
    -Jet's plan to relocate operations and core function raises eyebrows
    -Jet to relocate network and revenue management to Abu Dhabi
    -Inventory control and hub to be relocated to Abu Dhabi
    -Proposed relocation plan not consistent with Indian norms
    -Co-operative board control with 19 foreign nationals nominated by Etihad
    -No Jet nominees on co-operative board yet; all slots of Jet vacant
    -Co-operative board and three groups to oversee all aspects of Jet business
    -Govt fears operational control of Jet effectively with co-operative board

    Educomp Solutions
    -Plans long term debt restructuring
    -Restructuring will help company to strengthen core business
    -Debt restructuring to address asset liability mismatch

    GRUH Finance Q1FY14 YoY
    -Stable numbers, NII and PAT strong, but asset quality sees slight worsening QoQ
    -Gross non-performing asset (GNPA) and provisions spiked up
    -NII up 26 percent to Rs 67 crore vs Rs 53.3 crore
    -PAT up 26 percent to Rs 33.77 crore vs Rs 27 crore
    -Asset Quality – worsens slightly QoQ
    -GNPA at 0.46 percent vs 0.32 percent QoQ
    -GNPA at Rs 26.3 crore vs Rs 29.7 crore YoY
    -GNPA at 0.46 percent vs 0.6 percent YoY

    Deccan Chronicle Holdings: CMP Rs 2.65
    -CBI team conducts search at company’s office, MD's residence
    -Team of 24 officers from Bangalore conduct search
    -Search related to defaults of company to different banks, financial institutions
    -No information on searches so far from CBI

    Other stocks and sectors that are in news today:
    -Sundaram-Clayton 1.26 million shares IPP fully subscribed
    -Alstom T&D India bags order worth Rs 200 crore from Bajaj Infra
    -Kalindee Rail board meets on July 11 to consider raising fund via preferential issue
    -Shasun Pharma board meets on July 13 to review operations of company

    first published: Jul 9, 2013 08:17 am

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