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Last Updated : Aug 24, 2015 08:30 AM IST | Source: CNBC-TV18

Stocks in news: Tata Motors, IOC, Mphasis, Gammon Infra

Tata Motors | IOC | Dredging Corporation | Mphasis | Goa Carbon | Dr Reddy's Labs | Gammon Infra and Deccan Gold Mines are stocks, which are in the news today.

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Todays L/H

Here are stocks that are in news today:

Government to sell 10 percent stake in Indian Oil Corporation (IOC) via offer for sale (OFS) on Monday
-Government sets floor price for IOC OFS at Rs 387/share

Divestment Secretary Aradhana Johri says
-Retail subscription in Dredging Corp OFS 11 times
-Total subscription of Dredging Corp OFS at Rs 142 crore
-Dredging Corp OFS oversubscribed 1.65 times
-Retail response is very encouraging for Dredging Corp
-Plan to raise around Rs 53 crore from Dredging Corp OFS
-Have notified 10 percent stake sale in Indian Oil
-Retail reservation in Indian Oil OFS at 20 percent
-Have already raised Rs 3,300 crore via stake sales in FY16
-Have a very robust pipeline for stake sales this fiscal
-Seeing an excellent appetite for IOC stock right now
-Exchange traded fund (ETF) in process; in talks with SEBI on the issues
-Have decided merchant bankers for NTPC stake sale
-Right time for IOC stake sale; good feedback from merchant bankers
-Will start divestment roadshows in September
-Have fast-tracked the approval process for stake sales
-Can't say if Coal India stake sale will happen this fiscal
-Many factors playing on the market including whether US Fed will move

Navkar Corporation IPO opens
-Issue closes on August 26
-Issue size Rs 600 crore (fresh issue Rs 510 crore, offer for sale by promoters Rs 90 crore)
-Price band Rs 147-155/Share


Dr Reddy's Labs says
-Recalled one batch of USP 1.5 mg Rivastigmine Tartarate capsule in US
-Business impact from the recall will not be substantial
-Voluntary recall in conformance with company’s quality assurance norms

Goa Carbon says
-Have shut down Bilaspur plant temporarily w.e.f. August 21
-Have shut down Bilaspur plant due to inventory of finished material

Finance Minister Arun Jaitley says
-Consumption of steel in India is going to increase in the coming years
-Challenges in steel sector created by external factors
-Necessary to strengthen & preserve steel sector for India's growth
-Construction, infra, auto sectors will see higher demand for steel
-Uncertainty over US Fed rate hike impacting India
-China's manufacturing index, Greece's financial crisis have an impact on India
-Global factors are transient in nature
-Global factors have an impact on steel producers in India
-India's internal economy indicators are good
-India can withstand such global factors
-Band-aid solutions don't work, need to know the root cause of issues
-Need to make steel industry in India competitive
-Too much protection on steel will have a spiral effect on user industries
-Need to increase mining to make raw material available
-Biggest NPAs with banks belong to the steel sector
-World is passing through some very challenging trends

Mines & Steel Minister Narendra Tomar says
-Aim to produce 300 million tonnes by 2025 from 110 million tonnes currently
-Government has decided to bring special purpose vehicle for integrated steel plant
-Have signed MoUs for integrated steel plant with Chhattisgarh & Jharkhand
-Government in dialogue to sign integrated steel plant with Odisha, Karnataka
-Secondary steel producers consume 50 percent of crude steel
-Need to resolve issues of both primary & secondary steel producers
-Secondary steel producers important part of sector to push make in India
-Mine auction may start by October-November, in process of finalising DMF norms

Andhra Pradesh Government
-Invokes Land Acquisition Act to acquire land in 10 villages after farmer protests
-Has acquired 30,000 acres under land pooling scheme
-Undertook land pooling to build new capital in Amravati
Alert: Farmers objected to land pooling & approached Hyderabad High Court
Alert: Some of the farmers sought land to be acquired rather than pooled

Japan's Kubota to start assembling tractors in India this October
-Kubota to start assembling with new model built for Indian customers
-Kubota will operate an assembly plant near Pune: Agencies

Deccan Gold Mines
-Revises issue price to Rs 17/share of proposed rights issue from Rs 15/share
-Rights issue in the ratio of 1 rights share for every 2 shares held
-Issue size to be revised from Rs 44.41 crore to Rs 50.34 crore

Unitech gives large office space to Google on lease
-Deal to generate Rs 600 crore of rental income for Unitech over 9 years

Toyota denies plans of increasing stake in Kirloskar Group
-Toyota currently holds 11 percent stake in group

-Enables online filing of foreign currency transfer of shares (FCTRS) to ease FDI transactions' reporting
-Enables e-filing of FCTRS returns for transfer of shares & CDs
-Enables e-filing of FCTRS returns for partly paid shares & warrants

-To raise minimum export price of onions to USD 700 per million tonnes from USD 425 per million tonnes
-To float tender to import 10,000 million tonnes of onions on August 27
-Keeping a close watch on the rise in prices of onions

Finance Minister Arun Jaitley inaugurates Bandhan Bank in Kolkata
Bandhan Bank CMD Chandra Shekhar Ghosh says
-This is the birth of a new bank in India after over a decade
-Bandhan family consists of 19,500 people
-IFC, GIC & SIDBI supported & put faith in Bandhan Bank
-Promise to pass on every benefit of lower cost to customers
-Will stay away from large corporate loans in the beginning
-Bandhan Bank to have 2 divisions, micro banking & general banking
-Will start with 501 branches across 24 states
-Bandhan Bank will have Rs 3,052 crore capital base
-Will try to keep bad assets low
-1.43 crore accounts have been opened

Other stocks and sectors that are in news today:
-Tata Motors says 5,800 JLR cars at China port hit by blasts: Reuters
-Mphasis bags IT deal from The Royal Bank of Scotland: PTI
-Gammon Infra bags order worth Rs 397 cfrore from Goa Public Works Department
-France & India to sign deal for Rafale Fighter Jet contract within 10 days: Reuters sources
-Banks likely to loan Rs 7,550 crore to JSW Energy: ET
-Coal India board clears 3 projects with investments worth Rs 6,000 crore
-ONGC Videsh shortlisted for Mexican oil block bids
-JSPL may bid for ore mines in Odisha in forthcoming auctions in October-November

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First Published on Aug 24, 2015 08:11 am
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