News Capsule (30 Jul 10)

Shares of Inox Leisure today surged 20 per cent on media reports that Reliance MediaWorks is interested in acquiring a 67 per cent stake in the multiplex operator, which the Anil Ambani-led firm has denied.

State-run NTPC has sought assurance from the Power Ministry to pursue its case to the Oil Ministry for allocation of 30 million cubic metres of gas to fuel the expansion of its gas-based power stations.

Asit C. Mehta has recommended hold rating on 3i Infotech with a target of Rs 62 in its July 29, 2010 research report.

Exit Petronet LNG, says Technical Analyst, Ashwani Gujral.

Expect 20% gains Hero Honda in a year horizon, says Rajesh Jain, Independent Market Strategist.

Adani Power has commenced the third unit of power plant at Mundra, another 330 MW go on stream.

Taking the tariff war to a new low, Uninor, a JV between Unitech and Norway-based Telenor, today offered an up to 60 per cent discount on one paise-per- second tariffs, depending upon the location and timing of a call.

The National Stock Exchange, is in talks with the Tokyo Stock Exchange for a possible partnership to cross-list key products on each other’s platforms.

Get in Reliance Industries (RIL) for long term, says Technical Analyst, Ashwani Gujral.

Above Rs 38, Arvind can test Rs 40, says Technical Analyst, Ashwani Gujral.

IRB Infrastructure Developers can test Rs 360, says Technical Analyst, Ashwani Gujral.

Oriental Bank of Commerce (OBC) can touch Rs 430, says Technical Analyst, Ashwani Gujral.

Book profits in McDowell Holdings, says Technical Analyst, Ashwani Gujral.

INOX Leisure has support at Rs 73, says Technical Analyst, Ashwani Gujral.

Real estate major Unitech, which is considering a possible offer for its AIMlisted Unitech Corporate Park (UCP), is learnt to have made a 31 pence offer to UCP for an ‘all or no shares’ deal, reports CNBCTV18 ‘quoting sources’.

Reliance MediaWorks said on Friday it was not in talks to buy a controlling stake in cinema chain operator Inox Leisure, responding to a media report that it had made on offer for the rival firm.

India focused mining group Vedanta Resources Plc posted record firstquarter EBITDA of USD 794 million in the three months to end June as production of its three most profitable metals rose.

State firms have no immediate plans to revise petrol prices, the chairman of government-run Indian Oil Corp B M Bansal told reporters on Friday.

Hindustan Construction Company today announced that its subsidiary Lavasa Corporation, obtained board approval for an IPO of up to Rs 2,000 crore of fresh equity shares, subject to market conditions and obtaining necessary regulatory approvals.

Syndicate Bank has hiked deposit rates by 50-75 bps

State-run NTPC today commissioned a 490-MW unit at its Dadri thermal power plant for the upcoming Commonwealth Games.

The government today decided to release Rs 4,868 crore to public sector lenders for providing concessional loans to farmers

Nirmal Bang has come out with a research report on currencies. The broking firm says, the Indian rupee is likely to extend its rally in early deals on Friday (but turned other way)

BP Plc may not need to look far to find buyers for its $25 billion to $30 billion asset sales program — many of the most likely bidders are already part owners of the assets in question.

Daiichi Sankyo, Japan’s No 3 drugmaker, said on Friday that its first-quarter recurring profit jumped nearly tenfold and kept its annual outlook, crediting its Indian arm Ranbaxy for the rise in profit.

The Indian rupee depreciated by 7 paise to 46.60 a dollar in early trade at the Interbank Foreign Exchange market today, largely on month-end dollar demand from importers and capital outflows by foreign funds.

Central Bank of India board has approved rights issue

Kalpataru Power Transmission board has approved stock split in ratio of 5:1

Lanco Infratech has bagged 1980 MW plant order from Maha Genco

Jindal Saw may slip to Rs 185, says Mitesh Thacker, Technical Analyst

Reliance ADA Group is in talks with Universal Studios to build a USD 1.5 billion, 400 acre theme park and resort in India, the Wall Street Journal reported on Thursday citing a person familiar with the matter.

SBI Macquarie Infrastructure Fund is buying 12% stake in Adhunik Metalik?s power subsidiary for Rs 125 crores, sources with direct knowledge of the deal said.

The foreign institutional investors (FIIs) were net buyers of Rs 2008.83 crore in futures and options segments on Thursday.

Hinduja flagship firm Ashok Leyland today said it will acquire 26 per cent stake in UK- based bus manufacturer Optare for $7.5 million (about Rs 35 crore) as part of its strategy to expand into new markets.

Muthoot Finance, has raised Rs 157 crore by issuing shares to the extent of 4% of the firm?s capital to private equity firms Baring Equity Partners India and Matrix partners India.

Tata Motorsowned British marquee brand Jaguar is planning to recall over 5,000 vehicles of its models XK and XF due to an engine problem.

Angel Broking has recommended neutral rating on Union Bank of India in its July 28, 2010 research report.

India Capital Markets has recommended accumulate rating on Transformers and Rectifiers India with a target of Rs 455 in its July 29, 2010 research report.

KEC International, part of the USD 3.5 billion RPG Group, is in the race to acquire USbased SAE Towers Holdings, which has operations in Brazil and Mexico. Owned by private equity firm Acon Investment, SAE Towers is the world’s largest maker of power transmission towers.

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