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Stocks in news: KFA, Selan Exp, JP Asso, RIL, Tech Mah

Kingfisher | KEI Industries | Schenider Electric | Alstom T&D India | Selan Exploration | JP Associates | Hindalco Industries | Tech Mahindra | Reliance Industries and Network 18 are stocks, which are in the news today.

September 18, 2012 / 10:26 IST
     
     
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    Here are stocks that are in news today:

    Network 18 rights issue opens today
    -To issue 89.98 crore shares at Rs 30/share
    -Rights ratio of 307 shares for every 50 shares held
    (Moneycontrol.com is part of the Network18 Group)

    Reliance Industries (RIL) buys a total of 3.9 crore shares in buy back
    -RIL buyback at an average price of Rs 715.7/share
    -RIL uses a total of Rs 2794.3 crore for buyback
    -RIL share price now above maximum buyback price of Rs 870/share
    -RIL regains status as most valued company in India

    Another big ticket move is expected on cabinet agenda this week: Sources
    -Cabinet may consider power debt restructuring package on Thursday
    -Power debt package proposes restructuring of SEB dues

    Finance Minister P Chidambaram to CNBC-TV18
    -Marginal slippage in FY13 fiscal deficit over budget estimate
    -Will try to hold fiscal deficit at 5.1% of GDP in FY13
    -Will not allow a large slippage in fiscal deficit
    -To present path of fiscal consolidation within few weeks
    -Issues w.r.t capital market, taxation, disinvestment to be addressed
    -Cabinet and CCEA to meet this Thursday; to consider multiple issues
    -Final view on implementation of general anti-avoidance rules (GAAR) by PM/cabinet likely
    -Do not think a ratings downgrade is looming large
    -Will not roll back any of the decisions taken recently
    -Petrol deregulated, free to be revised even on daily basis
    -LPG cylinder cap could change consumption behaviour

    Stocks Ex-Dividend
    -Jagran Prakashan: Rs 3.5/share
    -Kavveri Telecom: Rs 4/share

    Inter ministerial group (IMG) recommends: Sources
    -Bank guarantees submitted by Tata Power and Hindalco for a Jharkhand coal block be revoked
    -IMG to meet again today 

    Other stocks and sectors that are in news today:
    -Tech Mahindra to buy 51% in Comviva Technologies for Rs 260 crore (Comviva is Bharti group company)
    -Coal India (CIL) board may consider price pooling issue today: PTI (Board meeting today)
    -Hindalco raises Rs 9900 crore for its aluminium project in Odisha
    -Jaiprakash Associates looking to cut debt via sale of power assets: Mint
    -Kingfisher Airlines (KFA) bankers want company to pledge its band as collateral: BL
    -Selan Exploration approves buyback at maximum Rs 350/share
    -Alstom Holdings to acquire 6.21 crore shares of Alstom T&D India at Rs 187.64/share
    -Schneider Electric Infrastructurehas made an open offer to acquire 6.21 crore shares (26% stake) in Indian arm at Rs 83.10/share
    -Sun Pharma Advanced Research Company (SPARC) rights issue extended till September 21, rights issue in the ratio of 1:7, at Rs 67/share: FE
    -KEI Industries board meet to consider preferential allotment of 33 lakh shares at Rs 18/share to promoters (CMP Rs 16.5/share)
    -JNPT scraps container terminal deal worth Rs 8,500 crore of ABG consortium: ET
    -Change in Circuit Filter: Kingfisher Airlines - 10%

    first published: Sep 18, 2012 08:01 am

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