Limited Period Offer:Be a PRO for 1 month @Rs49/-Multiple payment options available. Know More

Stocks in news: Tata Power, Vedanta, Cairn, Kaveri Seed

Sun Pharma | Vedanta | Cairn India | Tata Motors | Deepak Fertilizers | Dhunseri Petrochem | Kaveri Seed | Tata Global Beverages | Sutlej Textiles | Jayshree Chemicals | Tata Power and NTPC are stocks, which are in the news today.

June 15, 2015 / 11:01 AM IST
  • bselive
  • nselive
Todays L/H

Here are stocks that are in news today:

-Company to expand Chennai production unit
-Company to open factory in Coimbatore this year: ET

-Company in talks with 3 troubled PSUs, proposes JV to buy stake
-Companies in states of Bengal, Rajasthan and MP: ET

April IIP at 4.1 percent versus 2.5 percent (MoM)
-March IIP revised to 2.5 percent from 2.1 percent earlier
-Mining sector output at 0.6 percent versus 0.9 percent (MoM)
-Manufacturing sector output at 5.1 percent versus 2.2 percent (MoM)
-Electricity sector output at -0.5 percent versus 2 percent (MoM)
-Basic goods output at 2.8 percent versus 2.3 percent (MoM)
-Capital goods output at 11.1 percent versus 7.6 percent (MoM)
-Intermediate goods output at 3.3 percent versus 1.9 percent (MoM)
-Consumer goods output at 3.1 percent versus -0.7 percent (MoM)
-Consumer durables output at 1.3 percent versus -4.7 percent (MoM)
-Consumer non-durables output at 4.4 percent versus 1.9 percent (MoM)

May CPI inflation at 5.01 percent versus 4.87 percent (MoM)
-Food inflation at 4.8 percent versus 5.11 percent (MoM)
-Rural inflation rate at 5.52 percent versus 5.29 percent (MoM)
-Urban inflation rate at 4.41 percent versus 4.36 percent (MoM)
-Vegetable price inflation at 4.64 percent versus 6.63 percent (MoM)
-Combined fuel & light inflation at 5.96 percent versus 5.6 percent (MoM)
-Clothing, footwear inflation at 6.12 percent versus 6.15 percent (MoM)


Government says
-PSU banks to make presentations to government on capital needs
-PSU banks to make presentations to government from today till July 3
-PSU banks should find own resources, plan for raising capital from market
-PSU banks should have base line board validated capital raising strategy
-PSU banks should use capital in more productive manner, do business which is permitted by capital base
-PSU banks can also explore possibility of selling non-core businesses

Bombay High Court to next hear Nestle India versus FSSAI case on June 30
Bombay High Court says
-FSSAI & Maharashtra FDA at liberty to take all actions permissible in law against Nestle India
-FSSAI & Maharashtra FDA can take action if orders not followed
-FSSAI & Maharashtra FDA will have to give 72 hours notice to Nestle India before passing any order
-FSSAI & Maharashtra FDA at liberty to seize Maggi product if found with retailers
-Products approved earlier cannot be cancelled till next hearing

SEBI says
-Stock exchanges can introduce cash settled interest rate futures on 6-year, 13-year bonds
-On 10-year interest rate futures, exchanges can introduce 3 quarterly contracts

May auto sales: Tata Motors
-Group global wholesales at 79,244 units versus 77,701 units (MoM)
-Jaguar Land Rover global wholesales at 38,879 units versus 40,665 units (MoM)
-Jaguar global wholesales at 7,347 units versus 6,768 units (MoM)
-Land Rover global wholesales at 31,532 units versus 33,897 units (MoM)

Power tariff hiked by up to 6 percent in Delhi w.e.f. Monday
-4 percent hike in power tariff in Tata Power areas, 6 percent in rest of the Delhi
-Hike of power fuel surcharge on account of power purchase adjustment cost

Delhi Power Minister Satyendar Jain says
-Government does not agree with Delhi Electricity Regulatory Commission (DERC) decision which will result in power tariff hike
-Government will seek a review of DERC order w.r.t. power tariff hike
-Have decided to seek opinion for taking legal recourse versus DERC decision
-DERC should wait for CAG report before taking decision on electricity tariffs
-No financial burden should be passed on to consumers till discoms' issues sorted out

Cairn IndiaVedanta boards approve merger
Cairn India - Vedanta merger
-Cairn shareholders to get 1 share of Vedanta for every 1 share held
-Cairn shareholders to get 1 redeemable preference share of face value Rs 10
-Merger to be completed by Q1 of CY2016
-Independent directors of both companies approve the merger
-Cairn India shareholders given a premium of 7.3 percent
-No shares to be issued to Vedanta/arms for their shareholding in Cairn India
-Vedanta PLC ownership in Vedanta expected to decrease to 50.1 percent from 62.9 percent
-Vedanta’s Minority Shareholders Will Own 29.7 percent Stake In Combined Entity
-Cairn India’s minority shareholders to own 20.2 percent stake in combined entity
-Merger conditional on Vedanta, Cairn India & Vedanta PLC shareholder nods
-Transaction conditional on Indian High Court, stock exchange approvals
-Deal expected to be tax-neutral for Vedanta, Cairn India under Indian Law
-Vedanta to consider consolidation of some of its wholly owned foreign arms
-Cairn India’s BSE & NSE listings will be cancelled after merger completion
-Strategy remains unchanged, with continued focus on delivering growth

Vedanta Chairman Anil Agarwal says
-Independent directors of company and Cairn India recommend proposed combination

Vedanta CEO Tom Albanese says
-Transaction consolidates our portfolio of tier-I assets
-Will deliver superior returns for all shareholders
-Merger to result in better flexibility to allocate cap to high return projects
-Combined entity positioned to help unlock wealth of world-class energy

Cairn India CEO Mayank Ashar says
-Merger with Vedanta will generate additional value for company’s shareholders
-Merger with Vedanta enables company to deliver significant near-term growth
-Company’s Rajasthan fields continue to remain our core asset

Cairn India CFO Sudhir Mathur to CNBC-TV18:
-Preference shares to be listed on NYSE

Tata Steel UK approaches ACAS to resolve pension dispute
Alert: ACAS is Advisory, Conciliation & Arbitration Service
-Tata Steel UK says ACAS to help facilitate next phase in talks between unions & company

APL Apollo Tubes
-To raise up to Rs 200 crore via issue of various securities
-To merge arm Lloyd Line Pipes with company

Selection process for MD and CEO post of 5 PSU banks starts today
-Selection process for MD & CEO post of 5 PSU banks a 2-day process
-5 PSU banks are PNB, BoB, BoI, Canara Bank & IDBI Bank

Glenmark Pharma gets US FDA nod for Levonorgestrel & Ethinyl Estradiol tablets
Alert: Levonorgestrel and Ethinyl Estradiol tablets are oral contraceptives

Other stocks and sectors that are in news today:
-Tata Motors’s Vinod Sahay resigns to join Mahindra Two Wheelers
-Dhunseri Petrochem to shutdown plant-II of Haldia unit due to adverse market condition
-Deepak Fertilizers in shareholders agreement with Unity Infra to set up terminal market complex in Kalyan, Maharashtra
-Goa Carbon shuts down Bilaspur unit temporarily on account of finished material inventory
-Oil Minister Dharmendra Pradhan says aim to launch direct subsidy transfer for kerosene in 25 districts by March 31: Reuters
-IL&FS Engineering to consider fundraising options on June 18
-RBI says FIIs can now invest up to 49 percent in Kaveri Seed
-Tata Global Beverages says working with FSSAI to provide info requested by them about pending applications
-India Cements capital says N Srinivasan and TS Raghupathy resign as directors with effect from March 30
-Infosys says have not received any notification or intimation w.r.t H1-B Visa violations
-Sutlej Textiles says CCI approves acquisition of Chambal Fertilisers’s Birla Textile Mills located at Baddi, Himachal
-NTPC commissioned 200 MW unit 4 of Koldam Hydro Power Project
-Jayshree Chemicals: Odisha government approves transfer of leasehold rights of govt land held by company in favour of Aditya Birla Chemicals
-Sun Pharma - Madras HC vacates interim injunction on production and marketing of Syzopin: FE
-SEBI clarifies norms w.r.t. venture capitalists holding FPI registration
-SEBI may finalise listing norms for start-ups soon: PTI sources

stay updated

Get Daily News on your Browser