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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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