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Stocks in news: Reliance, ONGC, Bharti, DB Corp, Amtek Auto

Gujarat Fluorochemicals | DB Corp | HCC | DLF | Amtek Auto | JMT Auto | IIFL | Bajaj Finserv | IFCI | Bharti Airtel | National Fertilisers | ONGC | Oil India and Reliance Indsutries are stocks, which are in the news today.

June 28, 2013 / 11:36 AM IST
  • bselive
  • nselive
Todays L/H

Here are stocks that are in news today:

Cabinet Committee on Economic Affairs (CCEA)
-Okays Rangarajan formula for gas pricing, to be valid for 5 years
-Gas Prices to rise to USD 8.4/mmbtu from April 1, 2014
-Gas prices to be revised quarterly April 1, 2014 onwards
Alert: Gas price hike impact: Average power cost to go up by 16 paise/kwh
Alert: Gas price hike impact: Fuel cost of gas based power plants to go up by 100 percent
Alert: Gas price hike impact: Move to result in hike in  power tariff, urea and CNG cost

Oil minister Veerappa Moily to CNBC-TV18:
-Rangarajan recommendations have been accepted by CCEA
-CCEA has decided on quarterly revision of gas prices
-'FM and I will explain CCEA decisions on gas price on Friday'

On CNBC-TV18 Managing director of Oil & Gas research at Macquarie group, Jal Irani says:
-The gas price hike in line with expectations
-Govt could gain USD 69 billion from gas price hike
-May see investment of USD 100 billion in exploration
-Reliance Industries' (RIL) EPS would go up by 7-8 percent
-EPS of ONGC, Oil India (OIL) to go up by 35-40 percent
-ONGC and Oil India will be largest benefactors

On CNBC-TV18 Oil India says:
-'The gas price hike slightly more than we expected'    
-Move will encourage company to take more aggressive exploration
-Have lined up close to USD 4 billion in investment in 12th plan 
On CNBC-TV18 RS Sharma says:
-It could be the big turnaround for investment sentiment in India  

** Gas price hike big hit for power, fertiliser companies – to take Rs 14000 crore hit, gas based power plants to become unviable: Reports

Cabinet approves hike of paddy MSP by Rs 60 per 100 kg to Rs 1310
-Cabinet approves coal regulatory authority bill
-CCEA clears 7.64 percent divestment of National Fertilisers

Govt invites bids to appoint advisors for STC, ITDC divestment
-Govt planning to divest 1.02 percent stake in STC via offer for sale        
-Govt planning to divest 5 percent in ITDC via offer for sale  

SBI's Santosh Nair likely to be appointed new IFCI MD & CEO: Sources
-RM Malla likely to be appointed new IFCI chairman

Bharti Airtel loses out in bid for Myanmar mobile licence
Alert: Myanmar had shortlisted 12 companies to award 2 mobile licences
Myanmar selects Telenor mobile & Ooredoo as 2 applicants

Banking Licence (Deadline July 1st)
-IIFL to apply for banking licence
-Bajaj Finserv submits application to RBI for banking licence
-Bajaj Finserv says: Plan to convert arm Bajaj Finance into bank
-IFCI board okays applying for bank licence with RBI

HDFC Bank says
-RBI probe found no evidence of money laundering
-RBI probe noted some violations of KYC norms
-Reviewing, strengthening system after Cobrapost expose

Amtek Auto
-To buy 26.61 percent stake in JMT Auto from promoters      
-To buy 26.61 percent JMT Auto stake for Rs 56.96 crore at Rs 149/share 

ING Vysya Bank
-Raises Rs 1,836 crore via QIP, preferential issue of shares
-QIP, preferential placement at Rs 612/share

Other stocks and sectors that are in news today:
-DLF may exit insurance JV – ET
-Home Ministry rules our first right of refusal to Tata’s for Taj Mansingh – ET
-HCC board approves allotment of 3.92 crore convertible warrants to promoter companies at Rs 16.32 (CMP = 10.3, premium of 58 percent)
-DB Corp to sell 51 percent stake in Divya Prabhat Publications as part of company restructuring
-Gujarat Fluorochemicals plans to list wind subsidiary, Inox Wind, by FY14

House panel on finance: CNBC-TV18 Exclusive
-To adopt GST report on Friday

RBI issues norms on valuation of bonds issued by state discoms
-RBI Says State Discoms' bonds to be treated as non-slr securities

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