Here are stocks that are in news today:
Circuit revision-Gokaldas Exports, Usha Martin, JBF Industries: 10 percent from 20 percent-TVS Electronics, Sharon Bio Medicine, Saregama: 5 percent from 10 percent
Fund ActionFederal Bank-Morgan Stanley Mauritius sold 86.1 lk shares @ `60.28/shWest Life Development-SBI Magnum Balanced & Global Fund bought 21.6 Lk Shares @ `260/sh
Dabur says-No ban on sale in the US of products manufactured at Alwar unit-In the process of submitting clarifications sought by USFDA-This is a routine procedural matter & will not impact US business
China Central Bank cuts benchmark interest rate-Cuts banks' reserve requirement ratio by 50 bps effective September 6-Cuts 1-year lending rate by 25 bps to 4.6 percent effective August 26-Cuts deposit rate by 25 bps to 1.75 percent effective August 26-Additional 300 basis points reserve requirement cut for financial & auto leasing companies-Additional 50 basis points cut in reserve requirement for rural commercial & rural corporate banks-Removes upward cap on deposits of more than 1-year tenor-Cuts in bank reserve requirements to support economy-There has been a shortfall in liquidity due to forex fluctuations
RBI tech committee report-RBI Governor Raghuram Rajan went against majority decision in July policy-4 out of 7 members had suggested a policy rate cut-3 members had suggested a 25 basis points cut, 1 had suggested 50 basis points-3 out of 7 suggested a status quo on policy rate
RBI Deputy Governor R Gandhi says-Disruptive & tech innovations help serve bottom of pyramid customers-Have seen a payments revolution in last few years in the country-Payments banks' norms carefully crafted to ensure objective of financial inclusion-4 foreign banks have applied for setting up wholly owned subsidiaries in India-To release names of domestic systemically important banks within 2-3 days
Telecom Minister Ravi Shankar Prasad says-Will allow spectrum trading soon; discussing issues flagged by telecom companies-Need for convergence is another focus area-Yet to take a call on net neutrality; TRAI report awaited-Government is proactive as far as facilitation is concerned-Apprehensions w.r.t radiations are baseless-World Health Organisation (WHO) study found mobile radiations not harmful-Have written to government departments & states to allow installation of towers-Permitting in-building solutions in large government buildings-Whatever government is required to do has been done; will be done-Telecom companies need to optimise their networks, install new towers-Government willing to support telecom companies in installing towers-Appreciate work done by telecom companies in spreading mobile connectivity-Tower sharing already permitted by government-Telecom companies must rise to occasion & address call drop issue
Sadbhav Engineering says-Rs 100 crore to be set aside for balance equity commitment of the portfolio-Rs 180 crore will go towards prepayment of subordinate loans-Around Rs 120 crore to be paid back to parent company-Remaining funds to be used for meeting working capital needs-Xander & Norwest Ventures have pruned down number of shares to be sold-Company has completed refinancing 4 projects; interest cost bought down 120 basis points-Only 2 percent will be offloaded by Xander & Norwest Ventures-Have already organised funds for acquiring Dhule Palesner Tollway Project-Will complete transaction post lender approval in next 2-3 months-Looking at acquiring only under construction road projects-Will look at acquiring at least 2-3 stressed road projects every year-Company has added Rs 2,700 crore of EPC projects in first 4-5 months-See big traction in road sector-Rs 20,000 crore worth of bids lined up in September-October from NHAI-Company looking at increasing order book position-Taking hybrid annuity projects very seriously-Company has the ability to leverage balance sheet-Looking at bidding for all projects under hybrid annuity model
Gujarat NRE Coke-To seek shareholder nod for merger of NRE Metcoke & Bajrang Bali Coke with company-To seek shareholder nod for disposal of its wind mill business
Other stocks and sectors that are in news today:-Power Mech Projects and Arvind subsidiary Arvind Infrastructure to list shares today-Lupin gets US FDA nod for anti-inflammatory drug Diclofenac Sodium-JSPL seeks nod to raise Rs 15000 crore for loan refinancing and capex-ONGC Videsh eyes license extension for Vietnam block-JK Paper plans to scale up exports by 25 percent-Aban Offshore seeks shareholder nod for issue of up to USD 400 million on private placement basis-IOC & Nepal Oil Corporation sign MoU for construction of 1.3 MMTPA capacity pipeline worth Rs 275 crore-LIC's stake in Indian Oil Corporation rises to 11.11 percent from 2.52 percent post OFS-SBI to issue shares worth Rs 5,393 crore to government via preferential issue
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