Stocks in news: Infosys, Arvind, Coal India, Natco, Cairn

Cairn Energy set to approach International Court of Justice against Indian Government-Company to ask for appointing arbitrator in USD 1.6 billion pending tax case w.r.t. its IPO in 2006: FE

IndiGo FY15 net profit at Rs 1,304 crore versus Rs 317 crore YoY-IndiGo FY15 revenue at Rs 14,320 crore versus Rs 11,447 crore (YoY)IndiGo says-Former BoB chairman MD Mallya & former World Bank executive Anupam Khanna Join company's board-Have added 1,400 new employees in FY15-Placed fresh order for 250 A320neo aircraft; total aircraft order at 430

Infosys & Association Of Tennis Professionals (ATP) announce strategic technology partnership-Infosys says to become global tech services partner & platinum sponsor of ATP world tour

Tamil Nadu CM J Jayalalitha says-Total investment finalised during Tamil Nadu Global Investor Meet (TNGIM) at Rs 2.42 lakh crore-Road shows in 11 countries & 16 Indian cities have paid off-5,345 MW solar energy capacity to be built through investments signed-Of total manufacturing sector investments, almost 50 percent dedicated to southern districts-With auto MoUs to be signed, Chennai to become world's largest car manufacturing hub-Will ensure total online provision of all statutory investment clearances-TNGIM to be held every 2 years now on; next will be held in 2017-Tamil Nadu will remain top investment destination in India-Tamil Nadu will be among top 3 investment destinations in Asia Pacific-Looking to develop an app to make land records publicly available

Cognizant to invest Rs 1,000 crore in Tamil Nadu over 5 years-Move to expand delivery infrastructure in Chennai and Coimbatore: FE

TVS Motor-Signs MoU with Tamil Nadu government for Rs 350 crore investment-To invest Rs 350 crore in its existing 2 & 3-wheeler units in Hosur in 3 years

Wonderla Holidays signs MoU with Tamil Nadu government to set up a amusement park at ChennaiWonderla Holidays says-Tamil Nadu will facilitate speedy clearance to project through single window clearance-Tamil Nadu will provide uninterrupted power & water supply to project-Propose to make investment of Rs 300 crore in project over next three years-To fund Chennai project through combination of debt & internal accruals

SEBI passes disgorgement order on Satyam Computer ServicesSEBI on Satyam case:-Asks 10 entities to disgorge over Rs 1,800 crore-B Ramalinga Raju & B Rama Raju directed to disgorge Rs 56.16 crore-Amount earned by sale of shares held by Ramalinga Raju in company to be given up

Government Official says:-Government to phase out exemptions on corporate tax from next fiscal-Roadmap for exemption phase out on corporate tax to be announced in few days-Not to extend sunset clause in exemptions due for expiry in 2 years-Tax department to specify dates for sectors which do have sunset clause-Income tax to be amended to give effect to exemptions phase out

Vedanta Aluminum goes for workforce reduction, cost cutsVedanta Aluminum says-Sharp rise in Chinese exports has led to a short-term market saturation-Taking bold decisions in the current low price environment-Start-up of additional pots is on hold & shutting down rolling biz at BALCO-Restored partial capacity reduction at Lanjigarh Alumina Refinery

SEZ developers seek exemption from MAT-SEZ developers say levy of MAT was hurting investmentAlert: Commerce ministry called stakeholders meeting on SEZs today

Coal & Power Minister Piyush Goyal-Lambasts industry associations for pushing their vested interests-Industry chambers should avoid advertisement against national interest-Don't want government to suspect industry associations' motives-Discom resolution is on the cards, have asked states to enhance efficiency

Finance ministry official says-Plan to raise Rs 15,000 crore from sovereign gold bond in FY16-Interest rate for gold bond scheme likely to be around 3 percent-Interest rate for gold monetisation scheme likely to be around 2.5 percent-May roll out gold schemes in next 2 months-Gold reserve fund should be able to absorb gold price volatility-No undue worry on gold imports at this point-Expect to get at least 20 tonnes of gold from monetisation scheme-Interest on sovereign gold bonds will be paid in rupees-1st tranche of gold bond issuance to be a test, may withdraw if it fails

Other stocks and sectors that are in news today:-L&T gets shareholders’ nod to raise Rs 9,600 crore-Coal India plans to double output hinges on completion of 25 projects-SEBI imposes Rs 2 lakh penalty on United Bank for non-compliance of debenture trustee norms-Ashapura Fashion to mull preferential allotment of warrants on September 18-Amtek Auto allots 44.37 lakh shares at premium of Rs 167/share to promoters on preferential basis-Dabur India says Dabur Pakistan becomes company’s step down subsidiary-MRF signs MoU with Tamil Nadu government to invest up to Rs 4,500 crore in Perambalur & Arakonam units over 7 years-SEBI bars Brooks Lab & its directors from accessing securities market-Natco Pharma approves preliminary placement document for issue of shares under QIP-Met department says June 1-September 10 rainfall at 664.3 mm; 15 percent below normal-Raymond arm Silver Spark Apparel completes acquisition of Robot Systems for Rs 28 crore-TBZ: Prem Hinduja retires as company's CEO, CMD Shrikant Zaveri to take over-Odisha government in talks with AirAsia for direct operations: PTI-Godrej Consumer completes acquisition of balance 40 percent stake in Cosmetica National