Timely Indian Market & Stock News - August 2011

Index of industrial production data for the month of June 2011 comes in at 8.8% versus 5.6% seen in May 2011.

[Jindal Poly Films Ltd.] jumps as board approves buyback. The stock was trading at Rs281.10, up by 9.72%, with a volume of 7.51 lakh

[Lanco Infratech Ltd.] soars after favourable court ruling on Griffin Coal.

[India Cements Ltd.] net profit increases 4 fold. The stock was trading at Rs70.45, up by 1.15%, with a volume of 1.82 lakh shares

[Rajesh Exports Ltd.] Q1 PAT soars 100%. The stock was trading at Rs110.80, up by 3.84%, with a volume of 2.34 lakh shares on the BSE.

[Entegra Ltd.] Board recommends bonus issue. The stock was trading at Rs21.60, up by 4.10%

[Adani Enterprises Ltd.] arm to buy 20% stake in Green Gas.

[ICICI Bank Ltd.], [State Bank of India] hike lending rates . State Bank of India was trading at Rs2271, up by 0.92%

Food inflation at 9.9% vs 8.04%.

Domestic car sales dips 16% in July 2011.

Indirect tax collection rises by 16.4% in July 2011.

Credit rise 18.7%, deposits up 16.9% in 1 year: RBI.

[Redington (India) Ltd.] ties-up with Objet Geometries AP.

[Sterlite Industries (India) Ltd.] buys Black Mountain Mines. The stock was trading at Rs137.80, up by 0.92%

[Ipca Laboratories Ltd.] acquires 100% stake in Onyx Research. The stock was trading at Rs323.55

Neyveli Lignite Corporation Ltd to set up 2 thermal units next years. The stock was trading at Rs89.80, up by 1.81%

Monetary policy to stay tight until inflation eases: FM

Bharat Heavy Electricals Ltd to spend Rs600 cr for expansion at Trichy.

July 2011 inflation eases to 9.22% MoM

Shriram Housing Finance receives NHB licence.

Biocon Ltd to see rise in salary costs this year.

No bank licences for corporates: RBI

Just Dial plans to raise Rs360 cr via IPO: Just Dial filed its Draft Red Herring Prospectus (DRHP)

[Coal India Ltd.] overtakes [Reliance Industries Ltd.] as most valued co. Coal India was trading at Rs397.50, up by 2.55%

[Oil And Natural Gas Corporation Ltd.] gets ready for FPO. The stock was trading at Rs279.50, up by 2.38%

[Orchid Chemicals & Pharmaceuticals Ltd.] resumes production at Chennai unit

Axiata hikes 6% stake in Idea Cellular

Mahanagar Telephone Nigam Limited (MTNL) is trading 3% lower at Rs 36.55, extending its three day fall of over 13%, after widening its net losses by 88% to Rs 850 crore for the first quarter ended June 2011 mainly on account of expenditure on staff cost and retirement benefits. The company reported a net loss of Rs 451 crore in the corresponding quarter of the previous fiscal.

“Total income declined to Rs 843 crore from Rs 972 crore during the recently concluded quarter,” MTNL said in a filing to the stock exchanges.

The stock hit an all-time low of Rs 36.50 after opening at Rs 38.45 on the National Stock Exchange (NSE). A combined 288,600 shares have changed hands on the counter in morning deals

Manappuram Finance Secured NCD
Issue opening Date Aug 18th
Issue Closing Date Sep 05th
Issue size: Base Issue size of 400 Crores with an option to retain over subscription upto 350 crores for issuance of additional NCDs aggregating to a total of upto 750 crores.
Return: 12.56%
Ratings: Care AA
Min Investment: 5 Bonds(Rs 5000) and in multiples of 1Bond(Rs1000) thereafter

1.Wind turbine maker Suzlon Energy has received an order from Indian
Oil to set-up, operate and maintain wind energy projects of 48.3 MW
in Andhra Pradesh.
2.Hotel Leelaventure would sell its luxury hotel property in Kovalam,
Kerala to Travancore Enterprises (TEPL) for Rs500cr, in an effort to
reduce its debt.
3.HCL Infosystems has reported nearly 83% decline in Net Profit to
Rs11.5cr for the quarter ended June 30, 2011 as systems integration
business continued to be severely impacted by slowdown in projects
and customer decision cycles.
4.The government is likely to decide on the rights issue proposal of
State Bank India (SBI) in the next three months to fund its capital
requirement for future business growth.

[Suven Life Sciences Ltd.] gains on securing patents.

[DLF Ltd.] may challenge CCI order. The stock was trading at Rs181.90, up by 2.42%

[Reliance Infrastructure Ltd.] may not let Tata use its transmission networkSE.

[SJVN Ltd.] plans Rs30,000 crore investment by 2019-20

Monsoon rains 26% above normal in past week.

1. Dhanus Technologies has approved to issue bonus shares in ratio of 12 equity shares for every 5 shares held. The stock was at Rs 13.90, up 2.73 per cent on the BSE. It touched a high of Rs 14.15 and low of Rs 13.25 in trade so far.

2. Shares of Educomp Solutions plunged after reports that the income tax department has raided 14 offices of the company on alleged tax evasion. The stock was at Rs 226.15, down 12.14 per cent on the NSE. It touched a high of Rs 264.80 and low of Rs 220.65 in trade so far.

3. Nu Tek India will hold board meet on August 31, 2011 to consider the issue of bonus shares. The stock was at Rs 3.62, up 4.32 per cent on the BSE. It touched a high of Rs 3.64 and low of Rs 3.49 in trade so far.

4. World Health Organisation has delisted Panacea Biotec’s DTP-based combination and monovalent hepatitis B vaccines from its list of pre-qualified vaccines. The stock was at Rs 173.50, down 3.58 per cent on the NSE. It touched a high of Rs 183.40 and low of Rs 170 in trade so far.

5. Niraj Realtors and Shares, a promoter group company of Alok Industries, has purchased additional equity shares of the company in the open market under creeping acquisition. The holding of promoters and promoters group of the company now stands at 29.56 per cent.Alok Industries was at Rs 17.80, down 1.11 per cent on the NSE. It touched a high of Rs 18.45 and low of Rs 17.65 in trade so far.

6. Axiata, formerly Telecom Malaysia International, is looking to raise its stake in its Indian partner, Idea Cellular, to about 25 per cent, once it receives permission from the promoters of Idea - the Aditya Birla group - and the promulgation of the new takeover code.Idea Cellular was at Rs 95.90, up 1.54 per cent on the NSE. It touched a high of Rs 97.65 and low of Rs 94.95 in trade so far.

7. BSE Consumer Durables index is the top sectoral gainer, up 28 points at 6,418. It is followed by Metal, FMCG, Auto and Oil & Gas indices. BSE IT, Realty and Healthcare indices are among the losers on the sectoral front.