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Last Updated : Dec 24, 2015 08:53 AM IST | Source: CNBC-TV18

Coal India, Metal stocks, Idea Cellular, V Mart in focus

Stocks likely to be in the focus: Coal India, Tree House Education and Accessories, Zee Learn, Idea Cellular, Reliance Communications, Larsen and Toubro, Astra Microwave Products, V-Mart Retail, Sun Pharmaceutical Industries, Essar Shipping.


Stocks likely to be in focus today:

Metals Stocks
: Metals at 6 week high, Chinese communist party speaks of more stimulus. Mix of Chinese news, technical factors move metals.

Coal India: In a bid to ensure speedy coal loadings, the Railways joined hands with Coal India for procurement of 2,000 high-capacity wagons.

Coal India will make a total investment of about Rs 5,000 crore for wagon procurement.

As per the MoU signed between the two, the wagons will be procured by railways on behalf of Coal India for exclusive use in the evacuation of coal traffic from the mines of Coal India.

Zee learn: Pre-school chain Tree House Education said it will merge with Zee Learn in a statement to the stock exchanges. Shareholders of Tree House will receive 53 shares of Zee Learn for every 10 Tree House shares held. The deal is valued at Rs 923 crore.

Idea Cellular Ltd, India's third-biggest mobile phone operator, launched high speed fourth-generation (4G) mobile phone services across South India on Wednesday.

Idea said a handful of major towns were covered immediately, but all towns and cities in Andhra Pradesh, Karnataka, Kerala, Tamil Nadu and Telangana would be covered by March 2016.


The impact of that release, however, has already been felt, with pressure increasing on the country's heavily indebted telecoms firms - including Reliance Communications. RCom announced on Tuesday that it was in talks with rival Aircel to create India's second-largest mobile operator.

Astra Microwave: Larsen & Toubro exits Astra Microwave. Larsen & Toubro sells its entire 9.72 percent stake for nearly Rs 108 crore. Larsen & Toubro sold 24.5 lakh shares at Rs 135.82/share. Larsen & Toubro sold 55 lakh shares at Rs 135.80/share. Larsen & Toubro Capital acquired stake in 2012 and later transferred to parent firm. 

V-Mart Retail: The Reserve Bank has allowed foreign institutional investors to buy up to 49 percent stake in V-Mart Retail.


"Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 49 percent of the paid-up capital of V-Mart Retail Limited under the Portfolio Investment Scheme (PIS)," RBI said in a statement.

Close

The central bank said the foreign shareholding by FIIs/RFPIs in V-Mart Retail have gone below the revised threshold limit.

Sun Pharma delivery buying of Rs 270 crore. Volumes of 34 lakh shares versus 10-day avg of 24 lakh shares.

Essar Shipping only listed entity post Essar Oil delisting. Delivery Volumes of 5 lakh shares versus 10-day avg of 35,000.



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First Published on Dec 24, 2015 08:46 am
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