FREE STOCKS ALERT - 27.11.2013

* BAFNA PHARMACEUTICALS: Refuted media reports that Mylan and two other Indian pharmaceutical companies were in the fray to acquire the company.

* BHARAT PETROLEUM CORP: Appointed P.H. Kurian as government director on the company board on Nov 25. 

* BHARTI AIRTEL: To meet venture capitalists and private equity investors today to raise funds through euro bonds.

* CAIRN INDIA: Board approved buyback of 170.89 mln shares for up to 57.25 bln rupees at 335 rupees a share. 

* COAL INDIA: Has identified 126 new projects, with an estimated capacity of 438.04 mln tn, to be taken up during the 12th Five-Year Plan. 

* FINANCIAL TECHNOLOGIES: Defaulter NK Proteins said Tuesday it plans to repay 2.65 bln rupees of debt to National Spot Exchange. 

* HEXAWARE TECHNOLOGIES: Promoter HT Global IT Solution Holdings, in concert with other financial institutions, raised stake in the company to 70.62%. 

* INDIAN OIL CORP: The finance ministry is likely to go ahead with the divestment of stake in the company by Dec 10. The company's roadshows across the globe for stake divestment has received "less-than-lukewarm" response due to concerns over mounting losses on subsidised sale of fuels. 

* INFOSYS: Is well positioned to regain market share and improve efficiency, Executive Chairman N.R. Narayana Murthy said. 

* LARSEN & TOUBRO: The company has stopped giving stock options to its employees as static share price and tax issues have made them unattractive.
Instead, L&T is compensating staff with higher salaries. 

* MARUTI SUZUKI INDIA : Plans to launch new vehicle by 2017 to take on Toyota Kirloskar Motor Pvt Ltd's Innova. 

* NHPC: Second unit of the company's Uri project will begin commercial operations on Sunday. 

* NMDC: Central Vigilance Commission has asked the steel ministry to pull up officers of the company for changing tender rules to favour an Italian firm for an upcoming plant in Chhattisgarh. 

* OIL AND NATURAL GAS CORP: Will look at BHP Billiton's assets before deciding on taking interest in the blocks that the company plans to relinquish in India . 

* OMAXE: Promoters will infuse 2.44 bln rupees, proceeds of 14% stake sale in the company, through redeemable preference shares. 

* POWER FINANCE CORP: Plans to raise at least 1.50 bln rupees through issuance of bonds maturing in two years. 

* RELIANCE INDUSTRIES: Has shut another well in the D1 and D3 blocks of Krishna Godavari basin, which resulted in output falling to an all-time low of 8.73 mscmd. Company and CAIRN INDIA are expected to make a strong bid to regain lost ground by attempting to buy stakes in fields relinquished by them. 

* SESA STERLITE: Vedanta Resources plans a two-stage syndication to raise $500 mln to repay dollar-denominated bonds that are due to mature in 2014. 

* SHARON BIO-MEDICINE: Approved increasing tenure of old bonds by five years and issue of new bonds worth $8.04 mln against interest accrued on old bonds. 

* SYNDICATE BANK: Life Insurance Corp of India sold 2.05% stake in the bank through open market operations between Jan 18 and Nov 25. 

* TATA CONSULTANCY SERVICES: Has received an order from Hungary 's central securities depository Keler to implement its market infrastructure solution TCS BaNCS. 

* THERMAX: Got a 2.69-bln-rupee order from a petrochemical company to supply heat recovery steam generators for the latter's captive power plant. 

* UNITED SPIRITS: Promoter Relay BV has bought 1.97 mln shares of the company at 2,400 rupees each in a bulk deal. 

* VOLTAS : Has won three orders worth 10 bln rupees for overseas infrastructure projects. 

* VIPPY INDUSTRIES: Board has approved delisting of the company shares from BSE by buying back 4.3% of outstanding shares from public stakeholders.

FREE DAILY SECTORS ALERT - 27.11.2013

* AUTO: BMW's India arm will hike prices across models, including its Mini range, by 7-10% from Jan 1. Nissan India has decided to go solo for selling Datsun range of vehicles as it gears up to launch its first car from the mass market brand in 2014. 

* COAL: The Supreme Court on Tuesday issued notice to the Enforcement Directorate in the coal block allocation case on a plea saying no properties were attached in relation to money laundering in the scam. Coal ministry will initiate action against 60 companies for slow work on mining coal blocks allocated to them.

* COMMODITIES: Prime Minister Manmohan Singh has appointed a three-member panel to study the rise in sugarcane prices in Maharashtra . 

* ECONOMY: Supreme Court issued notices to state governments where Aadhaar scheme has been implemented seeking their stand on the validity of the plan. 

* ENERGY: Lower capacity utilisation at oil refineries in October pulled India 's crude refinery throughput down 3.2% on year to 18.67 mln tn. The finance ministry is likely to slash duties on branded fuels, making premium petrol cheaper by 5 rupees per litre and diesel cheaper by 2 rupees. 

* EXCHANGES: Bombay High Court has adjourned hearing on all cases on the National Spot Exchange until Dec 5. 

* FMCG: Competition Commission of India has rejected allegations of anti- competitive practices levelled against Procter and Gamble Home Products. Bikaji Foods is eyeing minority stake sale to private equity fund.

* HEALTHCARE: Andhra Pradesh government plans to issue detailed policy in February to encourage investments in life sciences-related industries. 

* INFORMATION TECHNOLOGY: The industry clocked exports worth $47 bln in Apr-Oct, and is on track to meet its $86 bln export aim in 2013-14 (Apr-Mar). 

* INFRASTRUCTURE: Cabinet expert panel has called for a traffic survey on 47 highways to ascertain the veracity of developers' claims of financial stress due to lower toll revenues. 

* MUTUAL FUNDS: UTI Asset Management has appointed McKinsey & Co to advise on restructuring its asset management business. 

* PHARMACEUTICALS: The government is likely to roll out stricter guidelines for applying for drug patents. Several drugs including anti-allergic Buclizine and anti-asthma Doxofylline that have been banned in major foreign countries on grounds of efficacy and safety may soon be banned by India too. 

* REGULATOR: The Reserve Bank of India has said it will charge customers for alerts on short text messages as per usage. RBI has imposed a monetary penalty of 200,000 rupees on Rajsamand Urban Co-operative Bank, for violation of anti-money laundering norms and non- adherence to know-your-customer norms. RBI has imposed a monetary penalty of 500,000 rupees on Sher Nagrik Sahakari Bank for non-adherence to know-your-customers norms among others. 

- RBI has recognised industry associations as self-regulatory organisations for non-banking financial companies engaged in microfinance. SEBI has proposed to allow listed companies, RBI-regulated infrastructure debt funds, and non-banking financial companies to file shelf prospectus subject to certain conditions. 

* SUGAR: The food ministry will soon seek the Cabinet's approval to provide interest-free loans to cash-starved sugar mills. 

* TELECOM: Department of Telecommunications may issue notices to BHARTI AIRTEL, IDEA CELLULAR, and Vodafone over license norm violations.

FREE DAILY STOCKS ALERT - 14.01.2013

* ASAHI INDIA: Jul-Sep net loss narrowed to 193.9 mln rupees from 289.9 mln rupees a year ago.

* ALLCARGO LOGISTICS: Posted consolidated net profit fell 28.9% on year to 421.1 mln rupees in Jul-Sep. 

* CAPITAL FIRST: Jul-Sep net profit fell 60.66% on year to 716 mln rupees.

* CARNATION INDUSTRIES: RBI has banned foreign institutional investors from purchasing shares of the company. 

* CIPLA: Jul-Sep net profit fell 25% year-on-year to 3.76 bln rupees. 

* CLARIS LIFESCIENCES: Jul-Sep net profit rose 33.6% on year to 330.1 mln rupees. 

* COAL INDIA: Jul-Sep net profit fell 0.8% on year to 30.5 bln rupees.

* EDUCOMP SOLUTIONS: Posted a net loss of 826.7 mln rupees in Jul-Sep, compared with a net profit of 36.4 mln rupees last year.

* ELDER PHARMACEUTICALS: Jul-Sep net profit fell 86.67% on year to 31.44 mln rupees. 

* FUTURE VENTURES: Posted net loss of 202.4 mln rupees in Jul-Sep, compared with a net profit of 53.2 mln rupees a year ago.

* GABRIEL INDIA : Jul-Sep net profit fell 9.2% on year to 115.12 mln rupees.

* GAYATRI PROJECTS: Jul-Sep net profit rose 61.3% on year at 208.45 mln rupees.

* GEOJIT BNP: Posted net loss of 942 mln rupees in Jul-Sep, compared with a net profit of 453 mln rupees a year ago.

* GILLETTE INDIA: The company's 2.8-mln-share offer for sale was subscribed 1.4 times at an indicative price of 1,925.66 rupees per share.

* GOL OFFSHORE: Posted a net profit of 507 mln rupees in Jul-Sep.

* GUJARAT STATE PETRONET: Jul-Sep net profit fell 14.11% year-on-year to 1.1 bln rupees, compared with 1.3 bln rupees last year.

* GVK POWER & INFRASTRUCTURE: Indonesia 's state-owned PT Angkasa Pura I plans to partner with the company on a project to build a second airport in the central Java city of Yogyakarta worth up to $700 mln.

* HINDUSTAN COPPER: Jul-Sep net profit rose 41.9% year-on-year to 620.1 mln rupees.

* HINDUSTAN PETROLEUM CORP: Plans to raise at least 2 bln rupees through commercial papers maturing on Dec 18.

* KARUTURI GLOBAL: Plans to issue securities on preferential basis.

* KEC INTERNATIONAL: Has won new orders worth 5.68 bln rupees for its transmission and cables business in India , Bangladesh , US, Brazil , Mexico , and Saudi Arabia . 

* MAHINDRA & MAHINDRA: Hiked prices of its tractors by an average of 3,500 rupees per unit at the beginning of October to pass on increase in input
costs. 

* MANAPPURAM FINANCE: Jul-Sep net profit fell 35.28% on year to 697.12 mln rupees, compared with 1.1 bln rupees last year.

* MCNALLY BHARAT ENGINEERING CO: Jul-Sep net profit fell 80.9% year on year to 16.3 mln rupees.

* NTPC: Will commence mining operations from a block in Jharkhand and ramp up output to 15 mln tn per year in three years to cut dependence on costly imports.

* OIL AND NATURAL GAS: Jul-Sep net profit was at 60.64 bln rupees, up 2.8% from a year ago.

* ORIENT ABRASIVES: Promoters sold 21.5 mln shares of the company to Bombay Minerals at 25.5 rupees a share.

* ORISSA MINERALS DEVELOPMENT CO: Jul-Sep net profit was up more than 12 times on year at 32.1 mln rupees.

* PATEL ENGINEERING: Jul-Sep net profit fell 57.9% on year to 62.2 mln rupees.

* PTC INDIA: Jul-Sep net profit rose 38.75% on year to 68.4 mln rupees.

* RASOYA PROTEINS: Posted a consolidated net profit of 68.4 mln rupees in Jul-Sep.

* RELIANCE BROADCAST NETWORK: Posted a consolidated net loss of 186.9 mln rupees in Jul-Sep, while net total income was at 585.9 mln rupees. 

* RURAL ELECTRIFICATION CORP: Jul-Sep net profit was up 16.4% year-on-year at 11.1 bln rupees, compared with 9.5 bln rupees a year ago.

* RELIANCE MEDIA: Posted a consolidated net loss of 1.24 bln rupees in Jul-Sep, compared with a net loss of 2.33 bln rupees last year.

* SHREE NATH COMMERCIAL & FINANCE: Posted a net profit of 1.97 mln rupees in Jul-Sep, compared to a net loss of 11.95 mln rupees last year.

* SHREE RENUKA SUGARS: Posted a Jul-Sep net loss of 1.2 bln rupees, compared with a net profit of 77 mln rupees last year.

* SUN PHARMACEUTICAL INDUSTRIES: Reported a net profit of 13.6 bln rupees in Jul-Sep, compared with 3.2 bln rupees last year. Has raised sales growth guidance for 2013-14 (Apr-Mar) to 25% from 18-20% earlier.
.
* SUNTECK REALTY: Jul-Sep net loss narrowed to 6.17 mln rupees from 8.87 mln rupees a year ago. The company board approved merger of Sanchit Derivatives with itself.

* SUPREME INFRASTRUCTURE INDIA: Jul-Sep net profit fell 54.7% on year to 87.9 mln rupees.

* SWAN ENERGY: Posted a net profit of 40 mln rupees in Jul-Sep.

* TATA POWER: CERC reserved its decision on recommendations of a panel that proposed compensatory tariff for the company's ultra mega power project in Mundra.

* TATA STEEL: Posted a net profit of 9.17 bln rupees in Jul-Sep, compared with a net loss of 3.64 bln rupees last year.

* TIME TECHNOPLAST: Jul-Sep net profit fell 18% on year to 218.98 mln rupees.

* UNITED SPIRITS: Has decided to exit Tamil Nadu, one of India 's largest markets for branded spirits, as its new owner Diageo would not manage markets that could potentially violate anti-graft laws.

FREE DAILY STOCKS ALERT - 12.11.2013

* APOLLO TYRES: Posted a 44.20% on year rise in Jul-Sep net profit to 2.19 bln rupees. Net sales rose 1.74% to 34.33 bln rupees. 

* ASIAN PAINTS: Company's arm Asian Paints International Ltd has increased its stake in Berger International to 96.48% by buying an additional 6% stake
in the company. 

* ASTRAZENECA PHARMA INDIA : Jul-Sep net loss narrowed to 12.26 mln rupees from 451.16 mln rupees last year. 

* ASHIANA HOUSING: Jul Sep net profit rose 40.5% on year to 106.9 mln rupees, compared with 76.1 mln rupees last year. 

* BASF INDIA: Jul-Sep net profit rose 18.8% year on year to 333.7 mln rupees. Net sales rose 4.8% to 10.53 bln rupees. 

* BRITANNIA INDUSTRIES: Jul-Sep net profit rose 65.7% to 976.4 mln rupees from 589.3 mln rupees last year. 

* CAIRN INDIA: The government is set to return 8,000 sq km in the Barmer block in Rajasthan to the company. 

* COAL INDIA: One person died and four were trapped after a part of the mine roof at Basanti Mata collieries of company's arm Bharat Coking Coal in Dhanbad collapsed. 

* CORPORATION BANK: Posted a 96.19% year-on-year fall in net profit to 154.71 mln rupees. Net interest income rose 13.27% to 9.1 bln rupees. 

* DENA BANK: Plans to raise 6 bln rupees through a qualified institutional placement after it receives capital from the government. 

* DHANLAXMI BANK: Plans to raise 1.3 bln rupees this quarter to bolster business growth. 

* EDELWEISS FINANCIAL SERVICES: The company will be excluded from MSCI Global Small Cap indices with effect from Nov 27. 

* ELGI EQUIPMENTS: Jul-Sep net profit fell 38.8% on year to 79.1 mln rupees, compared with 129.32 mln rupees. 

* ENGINEERS INDIA : Jul-Sep net profit fell 30.63% on year to 1.1 bln rupees, compared with 1.6 bln rupees a year ago. 

* FINANCIAL TECHNOLOGIES: The police have arrested Arun Kumar Sharma, chairman and managing director of Lotus Refineries, on charges of routing
money borrowed from the National Spot Exchange into real estate and movies. 

* GILLETTE INDIA: Promoters of Gillette India will make an offer for sale for 2.8 mln shares or 8.77% of the equity share capital of the company on Wednesday. 

* GLOBUS SPIRITS: Jul-Sep net profit fell 89.03% to 11.70 mln rupees from 106.69 mln rupees last year. 

* GODREJ INDUSTRIES: Jul-Sep net profit rose 22.1% on year to 935.9 mln rupees. Net sales rose 3.2% to 20.08 bln rupees. 

* HEXAWARE TECHNOLOGIES: Baring Private Equity Asia has bought an additional 20% stake in the company through an open offer for 8.16 bln rupees. 

* HINDALCO INDUSTRIES: Arm Novelis Inc reported net income for Jul-Sep at $23 mln, down 53% from last year. 

* HONEYWELL AUTOMATION: Jul-Sep net profit fell 34% to 139.7 mln rupees from 211.6 mln rupees last year. 

* INDIA GLYCOLS: Jul-Sep net loss was at 262.7 mln rupees, compared with a net profit of 405.7 mln rupees last year. 

* INDIAN OIL CORP: The government exempted the company from obtaining oil ministry's approval to export cooking fuels to Nepal and Bhutan . 

* INDRAPRASTHA MEDICAL CORP: Jul-Sep net profit rose 41.28% on year at 108.93 mln rupees, compared with 77.10 mln rupees last year. 

* MAN INFRACONSTRUCTION: Jul-Sep net profit fell 49.8% on year to 71.46 mln rupees, compared with 142.45 mln rupees. 

* NATIONAL FERTILIZERS: Posted a net loss of 259 mln rupees in Jul-Sep, compared with a net profit of 7.4 mln rupees last year. 

* NHPC: Jul-Sep net profit fell 9.68% year on year to 7.1 bln rupees from 7.8 bln rupees last year.

* PC JEWELLER: Jul-Sep net profit rose 14.28% to 1 bln rupees from 899.54 mln rupees last year. 

* PUNJ LLOYD: Company will be excluded from the CNX Infrastructure Index from Dec 6. 

* RELIANCE INDUSTRIES: Has agreed to furnish a bank guarantee, which will be encashed if it is found guilty of hoarding gas in its KG-D6 block, while the  oil ministry will not ask for lower prices at the company's other fields. 

* RELIANCE INFRASTRUCTURE: Jul-Sep net profit increased to 4.27 bln rupees from 3.81 bln rupees a year ago while total income was down 10% on year. 

* RELIANCE POWER: Reported a 4.3% on-year growth in consolidated net profit to 2.5 bln rupees, and a 22.4% rise in consolidated net sales in Jul-Sep. 

* RUPA & COMPANY: Tax department searched the company and its promoter's premises on Nov 7-8. 

* SESA STERLITE: Supreme Court issued notice to the company on a plea challenging the National Green Tribunal's order allowing operation at the company's Tuticorin copper smelting unit. 

* SML ISUZU: Jul-Sep net profit fell 70.1% on year to 38.7 mln rupees. 

* SOUTH INDIAN BANK: Reserve Bank of India has approved re-appointment of Aintab Guha as part time non-executive chairman for three years with effect from Nov 2. 

* SWELECT ENERGY SYSTEMS: The company will buy entire stake in Swelect Green Energy. 

* TD POWER SYSTEMS: Jul-Sep net profit was down 62.1% on year to 28.7 mln rupees. 

* TEXMACO RAIL & ENGINEERING: Jul-Sep net profit was down 79.7% on year to 59.38 mln rupees. 

* TEXMACO INFRASTRUCTURE & HOLDINGS: Jul-Sep net profit was up 14% at 98.27 mln rupees, compared with 86.19 mln rupees last year. 

* TREE HOUSING EDUCATION & ACCESSORIES: Jul-Sep net profit rose 15.5% on year to 114.7 mln rupees. 

* TRIVENI ENGINEERING: Has urged the Uttar Pradesh government to implement the Rangarajan Committee's recommendations on cane pricing soon. 

* WOCKHARDT: Plans to dilute 5% stake in its Swiss subsidiary Wockhardt Bio AG and list the company on European exchanges.

FREE DAILY STOCK REPORT: 12.11.2013

* AIRPORTS: The project-affected persons of the proposed Navi Mumbai airport have agreed to the state government's offer of 22.5% of developed land in exchange of land acquired. GVK POWER & INFRASTRUCTURE has the right of first refusal for infrastructure development. 

* BANKS AND FINANCIAL SERVICES: Ajay Piramal is close to acquiring a 20% stake in Shriram Capital for 19 bln rupees. 

* COAL: An inter-ministerial group is likely to recommend de-allocation of around 10 blocks belonging to various companies. 

* COMMODITIES: India allowed export of 10,000 tn of sugar to the European Union under the preferential quota during the marketing year that began Oct 1.

* COURTS: The Supreme Court has issued notices to Bharat Aluminium Co and the Chhattisgarh government on a plea alleging illegal possession of land around
its Korba plant. A plea filed in Supreme Court sought directions to Serious Fraud Investigation Office to produce the probe reports on illegalities in Niira Radia tapes.

* DEBT: India is considering membership to the world's biggest bond settlement system, Euro clear Bank SA's settlement platform, to woo investment in sovereign debt. 

* ECONOMY: Economic Affairs Secretary Arvind Mayaram said India needs new instruments for infrastructure sector's debt financing. The Appointments Committee of the Cabinet appointed Ratan P. Watal as the new expenditure secretary with effect from Dec 1. World Bank will provide $236-mln loan to finance a project to mitigate risks associated with hydro-meteorological and geophysical hazards in the coastal region of Tamil Nadu and Puducherry. Finance Minister P. Chidambaram today warned service tax defaulters of stringent punishment.

* FMCG: PepsiCO plans to invest 330 bln rupees in the Indian market by 2020 towards in innovation, manufacturing, infrastructure, and agriculture. 

* GOVERNMENT: The winter session of Parliament will begin on Dec 5 and end on Dec 20, sources said. 

* OIL AND GAS: Iraq is willing to double the credit period on crude sales to 60 days if Indian refiners buy more in 2014. 

* METALS: Vedanta Aluminium is set to scale up capacity utilisation at its Lanjigarh unit in Odisha to the rated capacity of 1 mln tn per annum by December. 

* RAILWAYS: Indian Railway Finance Corp plans to raise around $600 mln through external commercial borrowings. 

* REGULATORS: India 's current account deficit may fall to 3% of the gross domestic product in 2013-14 (Apr-Mar), RBI Deputy Governor Raghuram Rajan said. Transfer of shares of financial services sector companies from resident Indians to non-resident Indians will no longer need a no objection certificate by respective regulator or regulators, the RBI said. RBI net sold dollars to the tune of $3.55 bln in September, compared with net sales of $2.46 bln in August. RBI said that foreign institutional investors can invest $5 bln in credit enhanced corporate bonds. 

* RETAIL: Marks & Spencer plans to make India its largest market outside UK with 80 stores in the country by 2016. 

FREE DAILY SECTORS ALERT - 05.11.2013

 * AVIATION: The maintenance repair and overhaul facility being developed by Boeing at Nagpur will be operational from March.

* BANKING: More than 1 trln rupees of loan recast proposals could hit the corporate debt restructuring cell this year. 

* ENERGY: The power ministry has sought the Cabinet Committee on Investments' approval to tweak land acquisition norms for ultra mega power projects.

* IT: The US is investigating other companies for visa misuse allegations after arriving at a settlement with INFOSYS on the issue. 

* TELECOM: The Department of Telecommunications is planning to refer to the Telecom Regulatory Authority of India the issue of redefining adjusted gross revenue, based on which the government earns revenue from telecom companies.

* TOURISM: UK to scrap 3,000-pound sterling security bond for high-risk visitors to the country. Policy would have been applicable to India . 

* MARKETS: The BSE Sensex touched a lifetime high of 21321.53, while the NSE's Nifty ended at record closing high of 6317.35 in the Muhurat trading session on Sunday.

FREE DAILY STOCKS ALERT - 03.10.2013

* ASHOK LEYLAND: Has sold its US-based subsidiary Defiance Testing & Engineering Services to Exova. Total sales in September fell 32% on year to 7,232 units.

* AUROBINDO PHARMA: Promoter pledged 60,500 shares of the company on Saturday.

* AMBUJA CEMENTS: Investment bank JP Morgan has retained its 'underweight' rating on company as demand revival looks bleak in the near future despite rise in prices in the past few weeks.

* AZKO NOBEL INDIA : Began operations at the Gwalior plant on Monday.

* BAJAJ AUTO: Total sales during September rose 2% on year to 367,815 units, largely on account of the low base of the previous year.

* COAL INDIA: Company's September offtake at 35.79 mln tn as against a target of 34.84 mln tn. Production at 33.16 mln tn as against a target of 33.58 mln tn.

* CONTAINER CORP OF INDIA: Aberdeen Asset Management Ltd has increased its stake in the company to 12.4% from 8.4%.

* EICHER MOTORS: September total vehicle sales, including exports, fell 11% year on year to 2,803 units from 3,150 units a year ago.

* FINANCIAL TECHNOLOGIES: Subsidiary, National Spot Exchange, said it is unable to make payouts as the Economic Offences Wing has frozen its bank accounts.

* GATI: Lender has invoked pledge on 1.8 mln pledged shares of company on Monday.

* GITANJALI GEMS: The promoters rejected the board's 30% dividend payment plan.

* HDFC BANK: Harish Engineer retired as bank's executive director on Sep 30.

* IDBI BANK: Is hopeful of recovering up to 80% of its 8-bln-rupee exposure to KINGFISHER AIRLINES, even as the revival of the airline remains uncertain.

* IL&FS Engineering: Has extended redemption of preference shares by six years.

* JET AIRWAYS: The Securities and Exchange Board of India has cleared the deal where Abu Dhabi-based Etihad Airways is to buy 24% equity in the company through the amended norms for foreign direct investment in domestic airlines.

* JSW STEEL: Has raised prices of flat products by 2-4% or 750-1,750 rupees per tn effective Oct 1. The company, with Japanese joint venture partner Marubeni Itochu Steel, plans to set up a second steel processing centre in Pune.

* OIL AND NATURAL GAS: The company and partner Royal Dutch Shell Plc have expanded production at a project off Brazil , after blocking a $1.54-bln bid by China 's Sinochem Group for a stake in the venture.

* POWER GRID CORP OF INDIA : Has selected SBI Capital Markets Securities, Kotak Securities, UBS, and Citigroup as merchant bankers to advise the company on the sale of 4% equity belonging to the government.

* RANBAXY LABORATORIES: Has no plans to reduce its workforce in the next three to 12 months and is focussing on improving performance and productivity.

* RELIANCE INDUSTRIES: Has suggested four names that can be appointed as third- party experts to assess the decline in gas production from its once-prolific D6 block in the Krishna Godavari basin.

* RELIGARE ENTERPRISES: Mehta & Mehta Real Estate acquired a 2.49% stake in company through open market share purchases on Monday.

* SHARDA MOTOR INDUSTRIES: Has formed a joint venture with Toyota Motor Corp's ancillary division Toyota Boshoku Asia Co to supply parts to automobile manufacturers, including ones in India.

* SHIPPING CORP OF INDIA : The company has decided to exit its chemical carrier joint venture with Shapoorji Pallonji Group after continuous losses eroded the net worth of the company.

* STATE BANK OF BIKANER & JAIPUR: Has raised its base rate by 10 basis points to 10.25% effective Thursday.

* STEEL AUTHORITY OF INDIA : Has sold 3.1 mln tn of the commodity in Jul-Sep, up 14% on year.

* SUN PHARMACEUTICALS INDUSTRIES: Has formed a joint venture with US-based Intrexon Corp to develop therapeutics for certain diseases that cause partial or total blindness.

* TATA CHEMICALS: Fitch has affirmed BB+ rating on company, keeps outlook stable.

* TATA MOTORS: Total sales fell 33.44% to 50,427 units in September from 75,773 units in the year-ago period.  Arm Jaguar Land Rover has appointed John Edwards as managing director of its newly created individual products division.

* TECH MAHINDRA: Has stopped providing online services to the Municipal Corp of Delhi for non-payment of dues totalling 800 mln rupees.

* ULTRATECH CEMENT: Though product prices have risen in the past few weeks, investment bank JP Morgan has retained its 'underweight' rating on the company as demand revival looks bleak in near future.

FREE DAILY SECTORS ALERT - 06.09.2013

www.rupeedesk.in

* AUTOMOTIVE: Luxury carmaker Audi India sold 875 units in August, up 21% on year. BMW India is seeking the assistance of the German government in dealing with a 6.50-bln-rupee duty evasion case slapped on it by tax authorities.

* AVIATION: Air India will start direct flights from Mumbai to Allahabad , Agra , and Gwalior from Monday.

* BANKING: Some banks do not need the Reserve Bank of India 's approval to issue a guarantee on behalf of non-resident Indians who wish to buy shares or convertible debentures of Indian companies through open offers, delisting or exit offers. Users of prepaid payment instruments issued by banks can withdraw cash at point of sale terminals.

* ECONOMY: Finance Minister P. Chidambaram today said while the current moderation in economic growth was indeed a concern, there was no reason for "gloom and pessimism" as India will surely bounce back. Leaders of Brazil , Russia , India , China , and South Africa agreed to set up a $100-bln contingent reserve arrangement to guard against financial shocks, with India agreeing to contribute $18 bln to the fund.

* ENERGY: The cumulative coal production in the Apr-Aug period grew around 3% on year to 167.32 mln tn. The Fertilizer Corporation of India has signed a memorandum of agreement with COAL INDIA , GAIL INDIA, and RASHTRIYA CHEMICALS AND FERTILIZERS for revival of its Talcher urea plant in Odisha.
    -The central government and the Central Bureau of Investigation Thursday took contradictory stands in the coal block award case before the Supreme Court that is pondering if the government's sanction is required for the Investigating agency to probe any officer of joint-secretary rank or above.

* GOVERNMENT: West Bengal government plans to start a small savings scheme called 'Safe Savings Scheme' from Oct 5 to provide a secure investment option to small depositors.

* OIL AND GAS: Government has made adequate arrangements to ensure smooth imports of crude oil from sanction-hit Iran .

* REAL ESTATE: Demand for real estate in Hyderabad is likely to revive in the next six months as clarity on the proposed bifurcation of Andhra Pradesh emerges.

* TELECOM: Samsung beat competitor Apple in the race to introduce a smartwatch ' Galaxy Gear'. India will be one of the first 129 countries where the wearable device will be available on Sep 25.

FREE STOCKS ALERT - 22.08.2013

* ADANI POWER: The Maharashtra Electricity Regulatory Commission has allowed 57 paise extra per unit for power to be supplied over and above 520MW from the company's Tiroda units II and III.

* APOLLO TYRES: Has entered into a three-year branding partnership with Manchester United Football Club.

* ASIAN PAINTS: Increased its stake in Berger International to 75.82%, and has made an open offer to acquire the balance 24.18% in the company.

* BHARAT HEAVY ELECTRICALS: Has said survival of the domestic power equipment industry is closely linked to timely finalisation of infrastructure projects
and getting a level-playing field.

* CHENNAI PETROLEUM CORP: Hopes to strengthen its bottomline with the implementation of a 31.10-bln-rupee resid upgradation project.

* ERA INFRA: SEBI has imposed a penalty of 500,000 rupees on 18 entities for alleged failure to submit disclosures about changes in their shareholding pattern.

* FINANCIAL TECHNOLOGIES ( INDIA ): The Forward Markets Commission has ordered the company's arm National Spot Exchange to auction the commodities given as collateral and lying in the exchange's custody. The finance ministry has asked the income tax department to examine the stocks of National Spot Exchange members. National Spot Exchange's related entity Indian Bullion Market Association has to pay 11.7 bln rupees in dues to Sahara group's retail company Sahara Q Shop. The company also has 2.6-bln-rupee exposure in the commodity bourse.

* FUTURE RETAIL: Unit Future Lifestyle Fashion has struck a deal with Iconix Lifestyle to open stores for British sportswear brand Umbro.

* GMR INFRASTRUCTURE: The shareholding of parent company GMR Holdings has been divided equally among four key trusts--one each owned by group chairman G.M. Rao and his two sons and son-in-law.

* HINDALCO INDUSTRIES: Kumar Mangalam Birla, chairman of Aditya Birla Group, will invest 21.65 bln rupees by October to raise his stake in the company by 5% to 37% by converting 150 mln preferential warrants into equity shares.

* HINDUSTAN UNILEVER: The Delhi High Court refused to restrain the company from broadcasting or printing the advertisement that shows 'Pepsodent Germicheck' toothpaste to be 130% more effective than 'Colgate Dental Cream Strong'.

* INDIAN HOTELS: Investors have said the company should sell part of its foreign business to trim its debt and focus on reviving growth at home.

* INDIAN OIL CORP: Will invest about 80 bln rupees to expand capacity at its Koyali oil refinery in Gujarat to 18 mln tn per annum by 2016-17 (Apr-Mar).  The company will go ahead with its 43.20-bln-rupee liquefied natural gas plant at Ennore, near Chennai.

* JBF INDUSTRIES: Board has approved buy-back of 735 mln rupees worth of shares from existing shareholders other than promoters and persons who are in control of the company at a price of 105 rupees per share.

* JAIPRAKASH POWER VENTURES: Company's promoter JAIPRAKASH ASSOCIATES has pledged 300 mln shares of the company, or a 57.65% stake, to IDFC Ltd.

* KALINDEE RAIL NIRMAN (ENGINEERS): Board has approved preferential issue of 4.1 mln shares to TEXMACO RAIL & ENGINEERING.

* MULTI COMMODITY EXCHANGE: BNP Paribas Arbitrage offloaded 600,000 shares of the company worth about 170 mln rupees on Wednesday.

* NATIONAL ALUMINIUM CO: Plans to raise its alumina exports by 40% to 1.4 mln in 2013-14 (Apr-Mar).

* OIL AND NATURAL GAS CORP: Is planning to save 40% capital expenditure and reduce about four years in developing three gas discoveries adjoining RELIANCE INDUSTRIES gas fields by sharing spare infrastructure of the KG-D6 block. Has joined the race with 12 other companies to bid for development of Nasiriya oilfield and construction of a refinery in Iraq .

* PRAJ INDUSTRIES: Is in the process of setting up a plant in Sangli, Maharashtra , at an investment of 1.5 bln rupees.

* RELIANCE INDUSTRIES: Has finalised terms with a consortium of leading banks to raise $1.75 bln by way of overseas borrowings.

* SPICEJET: To start Pune-Sharjah direct flight from Sep 21.

* TATA CONSULTANCY SERVICES: Has appealed to the Board of Approval for Special Economic Zones against tax breaks denied to it by a lower-level committee for a host of services.

* TATA MOTORS: Nano will be repositioned as a "smart city car" with power steering option and several other improvements as the company is betting on "customer centricity" to revive sales.

* TECH MAHINDRA: Has sought commerce ministry's nod to transfer the permissions for three special economic zones given to Satyam Computer Services in Tamil Nadu and Andhra Pradesh.

* UTTAM GALVA STEELS: Has approached the government to surrender its two special economic zones in Maharashtra .

* YES BANK: Has told the Mumbai High Court that the suit filed by co-founder's widow, Madhu Kapur, is not maintainable.

FREE SECTORS ALERT - 08.08.2013

* AUTOMOBILE: General Motors India may have to take a hit of around 5 bln rupees as a result of its recent move to recall 114,000 Chevrolet Tavera MPVs to align them with statutory emission norms. 
-The government is planning to hold annual 'surprise checks' at auto makers' facilities across the country to ensure that all statutory norms under the Central Motor Vehicle Rules are met for all vehicles produced in India . 

* AVIATION: West Bengal government has cut taxes on aviation turbine fuel at four airports in the state. 

* BANKING: The RBI has directed all state and central co-operative banks to ensure that they are members of at least one credit information company and share loan data with them in the prescribed format. Loan and deposit growth for scheduled commercial banks in India continued to lag behind the Reserve Bank of India 's indicative growth projections. 

* COMMODITY: 21 buyers have an outstanding liability of 55.80 bln rupees, against which stocks tendered by them in exchange warehouses are worth 60.63 bln rupees, according to a National Spot Exchange list. 

* ECONOMY: The finance ministry expects the RBI to transfer about 250 bln rupees to the government as surplus profit for the year ended June compared with 160 bln rupees a year ago. 

*Finance ministry wants highway developers, who are keen to reschedule premium payments worth over 980 bln rupees during the project implementation period, to approach India Infrastructure Finance Co for financing the premium amount. 
-Finance ministry is finalising the modalities of a feeder fund that will
be listed on the London Stock Exchange and be a source of long-term financing for Indian infrastructure debt funds by attracting overseas investments. 

* ENERGY: Upstream companies Oil and NATURAL GAS CORP and OIL INDIA , along with GAIL (INDIA), have to bear 60% of the total petroleum subsidy in Apr-Jun, nearly double from 32% a year ago. 
- The Directorate General of Hydrocarbon has said there are technical problems in the suggestion that RELIANCE INDUSTRIES should not be allowed to raise gas prices until additional output makes up for the shortfall in supplies at old rate. 
            -  Companies like TATA POWER and RELIANCE POWER have voiced concerns over key provisions of CASE-II draft bidding guidelines ahead of the meeting of the ministerial panel to approve the norms on ultra mega power projects.

* EXPORTS: The government has revised downward its exports target for the current financial year to $325 bln. 

* FMCG: Cadbury India is planning to invest more than 10 bln rupees to set up the first phase of its manufacturing plant in Andhra Pradesh's Sri City .

* INFORMATION TECHNOLOGY: India appears set to get its first chip-making facility, with at least two global players-IBM and STMicroelectronics-in advanced stages of talks with the government for an investment of over 500 bln rupees.  

* INVESTMENT: Private equity funds, such as Tata Capital's PE fund and Morgan Stanley Global Private Equity, will buy a significant minority stake in Janalakshmi Financial Services for close to 3.50 bln rupees. 

* RAILWAYS: Indian Railways has floated a fresh request for proposal for the 63-km elevated rail corridor between Churchgate and Virar, making some minor changes in the original proposal and extending the last date of submitting applications to Sep 20. 

* REGULATORY: The Ministry of Consumer Affairs issued a notification barring the National Spot Exchange from launching one-day forward contracts or e-series contracts without prior approval from the government.  India could reimpose restrictions on royalty payments to foreigners for transfer of technology and brand fees after a sudden surge in outflows after the limits on such payments were revised in 2009. 
    - The Central Board of Direct Taxes has instructed that entities that have received donations from abroad in excess of 10 mln rupees during 2011-12 (Apr-Mar) should be scrutinized by the income-tax department.

* TELECOM: The Supreme Court has directed Ministry of Finance to give to Janata Party Chief Subramanian Swamy the minutes of a meeting of Foreign Investment Promotion Board in which the Aircel-Maxis deal was cleared. 
-The Supreme Court will on Aug 14 continue hearing the plea of Reliance Telecom Ltd, an accused in the 2G-spectrum case, seeking lifting of the apex court's order of stay on proceedings of all 2G related cases in Delhi High Court. 
            - The Central Bureau of Investigation has arrested the co-founder and managing director of Micromax Informatics, Rajesh Agarwal, and partner Manish Tuli, after catching them redhanded in a bribery case. Department of Telecom is considering doing away with the blanket 500,000 rupees fine on violations related to cell tower radiation, including lapses related to procedural aspects. 
             - Telecom Regulatory Authority of India is working to get at least three carriers of spectrum in 2.1 GHz (3G band) vacated by the defence forces by offering them the 1,900 Mhz band in lieu of it. 

* TRADE: India may suggest a compromise formula on insurance to the EU for inclusion in the proposed bilateral Free Trade Agreement in case there is further delay in getting Parliament's approval for the Insurance Bill. 

FREE DAILY SECTORS ALERT - 02.08.2013

* AUTOMOBILE: Hyundai Motor India sold 25,965 vehicles in the country in July, against 27,585 a year ago. Honda Motorcycle and Scooter India has sold a total of 287,177 units in July, the highest-ever monthly sales reported by the company. 

- Honda Cars India locally sold 6,515 units of its recently launched Amaze compact sedan in July, hiking the company's total domestic volumes by more than twofold to 11,223 units. 

* CORPORATE: Government has decided to broaden and deepen the definition of control of companies in case of FDI and include appointment of majority directors and control of management decision in the definition. 

* EDIBLE OIL: Government has allowed duty-free import of rice bran till Sep 30. 

* ENERGY: State-owned oil companies are seen incurring daily revenue losses of 3.79 bln rupees in the first half of August on sale of subsidised fuels, a 6% rise from the previous fortnight. 

- RELIANCE INDUSTRIES, OIL AND NATURAL GAS CORP, and CAIRN INDIA are vying with global energy firms Shell, ConocoPhillips and ExxonMobil for 30 offshore oil and gas blocks put on offer by Myanmar . 

* EXCHANGES: Department of Consumer Affairs has asked commodity market regulator to seek the rationale behind National Spot Exchange's move to merge
the delivery and settlement of all pending contracts and to defer them for 15 days. 

* INDUSTRY: Aided by higher hydel power generation, power utilities in Andhra Pradesh decided to lift power cuts imposed on industrial users. 

* MARKETS: Goldman Sachs has downgraded India 's rating to "underweight", citing sluggish economic growth, rising macroeconomic vulnerabilities, and tight liquidity. 

* POWER: The ministry of power is planning to introduce hydro power obligation, which will make it mandatory for electricity distribution companies to buy a percentage of their requirement from hydel power stations. 

* RAILWAYS: Cabinet has approved formation of rail tariff authority. 

* RETAIL: Union Cabinet has approved relaxation in foreign direct investment norms for multi-brand retail, including the sourcing requirement from small scale enterprises. 

* STEEL: Essar Steel India will raise $2 bln in pre-export finances and would use the proceeds for early repayment of existing rupee debt. ArcelorMittal has cut its full-year profit forecast on weaker steel demand in the US and Europe than previously expected. 

* TELECOM: The Cabinet has approved 100% FDI in mobile call services via the automatic route. A special bench of the apex court will now hear the petitions of Bharti group head Sunil Bharti Mittal and Essar group promoter Ravi Ruia, who have challenged the trial court's order summoning them as accused in the excess spectrum grant case. 

-                          The Supreme Court has restrained the Department of Telecom from levying damages or penalty on Loop Telecom Ltd for discontinuing mobile services on or after Jun 1, 2012 but asked the company to respond to other part of the Nov 22 show-cause notice that relates to alleged default on roll-out obligations.  

-                          The Supreme Court has asked the industry association representing operators using the Global System for Mobile Communications platform to reply to the pleas of the Code Division Multiple Access body in the case related to one-time fee on excess spectrum held by companies. 

FREE DAILY STOCKS ALERT - 31.07.2013

* ALSTON INDIA: Has posted net profit of 269.7 mln rupees in Apr-Jun, up 109% on year, and net sales of 5.37 bln rupees, up 22% on year.

* BAYER CROPSCIENCE: Board of Directors has approved a plan to sell its manufacturing unit at Ankleshwar in Gujarat .

* BANK OF INDIA : The bank is buying office space in Delhi at Connaught Place from Standard Chartered Bank for 1.25 bln rupees.

* CHETTINAD CEMENT: Securities and Exchange Board of India has revoked orders passed against directors and promoters of company for non-compliance of 25% public float requirement.

* CIPLA: The Delhi High Court Friday asked the Centre not to take coercive steps against the pharmaceutical company till the next hearing, pertaining to pricing of its drugs.

* CLARIANT CHEMICALS INDIA : Plans to sell assets of its unit at Kolshet in Thane.

* COAL INDIA: The government has decided to cut divestment target for the company to 5% from 10% aimed earlier after talks with trade unions.

* CROMPTON GREAVES: Company has bought back 539,833 shares worth 46.9 mln rupees between Jul 16-Jul 30 via buy back offer from the open market.

* DR REDDY's LABORATORIES: Is looking to increase product pipeline in rare, complex and limited competition products going forward.

* EID PARRY INDIA : Posted net loss of 723.1 mln rupees in Apr-Jun, compared with 224.7 mln rupee profit year ago. Net sales were at 4.03 bln rupees, down 30% on year.

* GODREJ PROPERTIES: Market regulator SEBI has sought clarifications from the company on its proposed 7 bln rupee rights issue.

* HINDALCO: The Company has refinanced loans worth 47 bln rupees from STATE BANK OF INDIA and AXIS BANK for its Utkal alumina project.

* IFCI: Apr-Jun net profit declined 41% YoY to 551 mln rupees. Net sales declined 17% to 5.4 bln rupees.

* JET AIRWAYS: The airline is introducing fee for pre-selection of certain seats in economy class on international flights operated by Boeing 737 aircraft.

* JINDAL STEEL & POWER: Posted net profit of 4.94 bln rupees in Apr-Jun, up 28.3% on year and net sales of 44.91 bln rupees, down 4.1% on year.

* KOKUYO CAMLIN: Plans to raise up to 1.09 bln rupees through 14-for-29 rights issue of shares at 33 rupees each.

* MARUTI SUZUKI INDIA : Will make a capital investment of around 35 bln rupees this financial year in an effort to strengthen its market leadership.

* NATIONAL FERTILIZERS: The Empowered Group of Ministers has approved 27 rupees per share as the base price for 7.64% stake sale in the company through offer for sale mechanism.

* NEYVELI LIGNITE: The Empowered Group of Ministers is likely to meet and fix the price band for selling 3.56% government stake in the company through institutional placement method.

* NTPC: Board has approved 33.63-bln-rupee Feroze Gandhi Unchahar Thermal Power Project in the State of Uttar Pradesh .

* PETRONET LNG: Has posted net profit of 2.25 bln rupees in Apr-Jun, down 16.8% on year and net sales of 83.77 bln rupees, up 19.8% on year. Plans to offer up to 18% stake in Gangavaram terminal project to a strategic partner.

* POWER FINANCE CORP: Enquiries have been initiated against chairman and managing director of company, Satnam Singh, pertaining to loans extended to SUZLON ENERGY and to VIDEOCON INDUSTRIES.

* RICOH INDIA: Plans to invest 2.5 bln rupees on expansion in India .

* SHREE CEMENT: Apr-Jun net profit declined 19% YoY to 2.84 bln rupees. Net sales were almost flat at 14.4 bln rupees.

* SREI INFRASTRUCTURE FINANCE: Will raise 1 bln rupees through a public issue of non-convertible debentures maturing in three and five years.

* TECHNO ELECTRIC & ENGINEERING CO: Looking at raising significant sum from leading private equity funds to ramp up its wind power capacity from 207MW to 800 MW by 2020.

* TRENT : Has posted net profit of 173.5 mln rupees in Apr-Jun, up 35.9% on year and net sales of 2.41 bln rupees, up 16.6% on year.

* TVS MOTOR CO: Is planning to launch two motorcycles in Kenya over the next two quarters. It has commissioned an assembly line at Nakuru in the African country.

* USHA MARTIN: Posted net profit of 40.9 mln rupees in Apr-Jun, up 17.9% on year and net sales of 9.29 bln rupees, up 9.8% on year.

* WIPRO: The Company has proposed to set up telecom equipment and product security test and certification centre, to be operational by Oct 1.

* YES BANK: The Reserve Bank of India is studying on-going promoter dispute at the bank, and will look into the issues if needed.

* ZENITH INFOTECH: Bombay High Court has admitted winding up petition filed by foreign lenders against the company. The court has also appointed Shalil Shah as provisional liquidator.

FREE SECTORS ALERT - 19.07.2013

* BANKING: Several senior bank officials said liquidity in the banking system remains comfortable despite measures taken by the RBI. The RBI will suck out liquidity from the banking system till the level government is comfortable with. 

* BROADCASTING: News Broadcasters Association has approached the Telecom Dispute Settlement and Appellate Tribunal to appeal against TRAI's move to enforce a 12- minute cap on advertisements shown every hour. 

* COURTS: The Supreme Court has issued notices to the central government, SEBI, and CBI on a public interest litigation seeking regulation of functioning of chit fund companies. 

* ENERGY: The government has clarified that the Petroleum and Natural Gas Regulatory Board is legally empowered to fix the transportation tariff of natural gas and petroleum products. An empowered group of ministers is likely to meet on Jul 25 to decide on the long-awaited bidding norms for ultra mega power projects. The Chatterjee group has moved the Supreme Court to stop the West Bengal government from divesting its stake in Haldia Petrochemicals. 

* FAST MOVING CONSUMER GOODS: Coca Cola India is hoping volumes will keep pouring in during the lean monsoon season by pushing most of its carbonated drinks at a lower price. Balaji Wafers is in talks with several fast moving consumer goods companies and private equity players to offload majority stake in the company and has appointed Ernst & Young to advise on the same. 

* FERTILISER: The Empowered Group of Ministers will on Jul 30 fix the floor price for disinvestment of 7.64% government stake in National Fertilizers. 

* INVESTMENT: The government may resolve issues on foreign direct investment in the pharmaceutical sector soon. 

* MARKETS: NSE will exclude shares of THE INDIAN HOTELS CO and RAYMOND from its futures and options segment after the expiry of September contracts.

* MUTUAL FUND: The ASK Group is looking to raise $200 mln in its maiden offshore fund that will invest in residential properties across country's top five cities.

* REGULATORS: TRAI has ordered cable operators in Kolkata to implement digital addressable cable television system or face criminal prosecution. President Pranab Mukherjee has promulgated an ordinance to amend the securities laws, giving wide-ranging powers to the Securities and Exchange Board of India, including authority to seek telephone call records, and carry out search and seizure operations. 

* INFRASTRUCTURE: The government will provide more funds for infrastructure development in the northeast, including 6 bln rupees for railway projects in the region. 

* PHARMACEUTICALS: Nine drug makers including RANBAXY LABORATORIES, DR REDDY'S LABORATORIES, CIPLA, and CADILA HEALTHCARE is likely to face hefty penalty from National Pharmaceutical Pricing Authority over allegedly overcharging anti-asthma drug Doxofylline. 

* TAXATION: The Central Board of Direct Taxes has released guidelines for availing weighted deduction at 150% of the expenditure incurred on skill development. 

* TELECOM: Instant messenger service platforms have taken a hit following the Telecom Regulatory Authority of India's decision to levy termination fees on SMSes. 

* SUGAR: Maharashtra government mulls new sugarcane act.

FREE DAILY STOCKS ALERT - 18.07.2013

* ASAHI INDIA GLASS: Has approved a rights share issue in the ratio of 13 shares for every 25 held at a price of 30 rupees per share. 

* ASHOK LEYLAND: The light commercial vehicle joint venture with Nissan plans to launch five products over the next few quarters. 

* BHARAT PETROLEUM CORP: The company believes it has an exploration and production bounty waiting in Brazil . 

* BHARTI AIRTEL: The company has returned 17 properties, which it had leased across the country to open Easyday stores, back to landlords, a possible fallout of the newfound reluctance of ally Walmart to engage in front-end retailing in India for now. 

* BAJAJ AUTO: Said it will not budge on the matter of demand by employees for shares of the company even if the Chakan plant were to be shut for 500 days.

* COAL INDIA: The company has set itself a target to supply 80% of the total coal requirement of NTPC from domestic sources. 

* COMMERCIAL ENGINEERS & BODY BUILDERS: Has approved sale of a 6.05-acre land parcel in Bilaspur to Shivam Motors for 40 mln rupees. 

* DENSO INDIA: Parent company, Denso Corp, has set an indicative offer price of 95 rupees per share for delisting the company from Indian stock exchanges.

* HCL TECHNOLOGIES: ChrysCapital which holds 3.8% stake in the company may look to unlock value as the shares hit a lifetime high. 

* HERITAGE FOODS INDIA : Plans to set up a second ice-cream unit at Mattam village in the Chittoor district of Andhra Pradesh. Board has approved a 1-for-1 bonus issue of shares.

* IGARASHI MOTORS INDIA : Blackstone Capital Partners ( Singapore ) and BFIP (Cayman) have signed a pact to buy 97.9% stake in the company's promoter Agile Electric Sub Assembly. 

* IDEA CELLULAR: Private equity firm Providence Equity Partners that holds 10% stake in the company, may look to exit through open market transactions in the coming weeks. 

* INFOSYS: Narayana Murthy may look for candidates outside for the post of Chief Operating Officer if the company fails to find one internally. 

* JET AIRWAYS: Etihad Airways is working towards meeting a Jul 31 deadline to win regulatory approvals for its planned stake purchase in the company.

* LARSEN & TOUBRO: The company is seeking shareholders' approval to increase the variable component of executive chairman A.M. Naik's pay from 0.3% of net profit to up to 0.4%. The company seeks to monetise its land assets through a mix of sales and development projects. 

* MARUTI SUZUKI INDIA : Workers and local trade union bodies are set for an indefinite hunger strike today demanding the release of jailed colleagues. 

* NCC: A unit of Sembcorp is likely to buy majority stake in NCC Power Projects, a joint venture company between NCC and GAYATRI PROJECTS, for $250 mln. 

* NEYVELI LIGNITE: The empowered group of ministers approved 3.56% divestment in the company via institutional placement. 

* NOVARTIS INDIA: The company expects to lose $2.7 bln to generic competition this year, 23% less than its own estimate in January.

* PIRAMAL GLASS: The company's arm in Sri Lanka , Piramal Glass Ceylon , has agreed to sell its balance land.

* R.S. SOFTWARE INDIA: Is looking for acquisitions in the electronic payments space. 

* S KUMARS NATIONWIDE: The consortium of lenders have filed a claim under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest to recover 30-bln-rupee loans. 

* SKS MICROFINANCE: Promoter SKS Trust Advisors has raised its shareholding in the company and asked for a seat on its board of directors. 

* STATE BANK OF INDIA : Chairman said Reserve Bank of India could have raised the repo rate instead of limiting the availability of funds. 

* SUZLON ENERGY: Is looking to monetize its global corporate headquarters in Pune. 

* TATA MOTORS: Jamshedpur unit is operating at 40% capacity, and Dharwad unit at 50%, as the company seeks to cut vehicle inventory with its dealers.

FREE SECTORS ALERT - 17.07.2013

* AUTO: Ford India has received over 30,000 bookings for its compact sports utility vehicle EcoSport since its launch on Jun 26. 

* DEFENCE: Government has decided to allow over 26% FDI in defence production subject to approval by Cabinet Committee on Security. 

* ECONOMY: Finance Minister said RBI's steps to reduce volatility in foreign exchange market were short-term measures.  India will finance current account deficit in the current financial year without drawing down on reserves, Finance Minister P. Chidambaram said.  India 's debt profile is "within sustainable limits" and is consistently improving, the government said in a status report on debt. 

* ENERGY: State-owned oil marketing firms may lose 3.62 bln rupees per day on sale of subsidised fuels during the fortnight ending Jul 31. Government has allowed FDI in petroleum refining sector via automatic route but maintained the cap at 49%. 

* EXCHANGES: Government has allowed 49% FDI in stock exchanges, depositaries via automatic route. 

* FINANCE: Revenue Secretary has asked service tax commissionerates to fast track applications received under Service Tax Voluntary Compliance Encouragement Scheme. 

* INSURANCE: Govt has decided to hike FDI cap in insurance to 49% from 26% now, but the move needs to be approved by Parliament. 

* MARKETS: Morgan Stanely has lowered its end-2013 target for the S&P BSE's 30-share Sensex to 21084 from the earlier 23069 points, mainly because the RBI's liquidity tightening measures are seen hurting companies' earnings. 

* PENSION: The Cabinet is likely to approve a proposal to change withdrawal rules for the New Pension Scheme today. Pension regulator PFRDA has allowed pension fund managers to invest in both mutual fund units and infrastructure debt fund bonds, but with a note of caution over the risk involved in such an exposure.

* REGULATORS: RBI said sales growth of non-financial private corporate business sector continues to slow down for the sixth consecutive quarter in Jan-Mar. The government is considering a new regulation for spot commodity exchanges.

* RETAIL: The government may agree to ease entry norms, as demanded by retailers such as Walmart, Tesco and Carrefour. 

* STEEL: POSCO has decided to pull out of its proposed 6-mln-tn steel plant in Karnataka.

* TELECOM: Government has hiked FDI in basic and cellular services to 100% from 74% now. The Department of Telecom has rejected Vodafone India 's plea to retain the existing cross holding norms governing the telecom sector.

* TEXTILES: India is planning to drastically slash tariff on import of textiles from Pakistan in an effort to normalize trading relations between the two countries. 

FREE SECTORS ALERT - 17.07.2013

* AUTO: Ford India has received over 30,000 bookings for its compact sports utility vehicle EcoSport since its launch on Jun 26. 

* DEFENCE: Government has decided to allow over 26% FDI in defence production subject to approval by Cabinet Committee on Security. 

* ECONOMY: Finance Minister said RBI's steps to reduce volatility in foreign exchange market were short-term measures.  India will finance current account deficit in the current financial year without drawing down on reserves, Finance Minister P. Chidambaram said.  India 's debt profile is "within sustainable limits" and is consistently improving, the government said in a status report on debt. 

* ENERGY: State-owned oil marketing firms may lose 3.62 bln rupees per day on sale of subsidised fuels during the fortnight ending Jul 31. Government has allowed FDI in petroleum refining sector via automatic route but maintained the cap at 49%. 

* EXCHANGES: Government has allowed 49% FDI in stock exchanges, depositaries via automatic route. 

* FINANCE: Revenue Secretary has asked service tax commissionerates to fast track applications received under Service Tax Voluntary Compliance Encouragement Scheme. 

* INSURANCE: Govt has decided to hike FDI cap in insurance to 49% from 26% now, but the move needs to be approved by Parliament. 

* MARKETS: Morgan Stanely has lowered its end-2013 target for the S&P BSE's 30-share Sensex to 21084 from the earlier 23069 points, mainly because the RBI's liquidity tightening measures are seen hurting companies' earnings. 

* PENSION: The Cabinet is likely to approve a proposal to change withdrawal rules for the New Pension Scheme today. Pension regulator PFRDA has allowed pension fund managers to invest in both mutual fund units and infrastructure debt fund bonds, but with a note of caution over the risk involved in such an exposure.

* REGULATORS: RBI said sales growth of non-financial private corporate business sector continues to slow down for the sixth consecutive quarter in Jan-Mar. The government is considering a new regulation for spot commodity exchanges.

* RETAIL: The government may agree to ease entry norms, as demanded by retailers such as Walmart, Tesco and Carrefour. 

* STEEL: POSCO has decided to pull out of its proposed 6-mln-tn steel plant in Karnataka.

* TELECOM: Government has hiked FDI in basic and cellular services to 100% from 74% now. The Department of Telecom has rejected Vodafone India 's plea to retain the existing cross holding norms governing the telecom sector.

* TEXTILES: India is planning to drastically slash tariff on import of textiles from Pakistan in an effort to normalize trading relations between the two countries. 

FREE STOCKS ALERT - 12.07.2013

* ADANI POWER: The National Green Tribunal has agreed to scrutinize the environmental clearance granted by the ministry of environment and forests to the company's imported coal-based 1,320 MW Chhindwara power plant in October last year. 

* BHARTI AIRTEL: Is in talks with US media and communications giant Liberty Media to sell a stake in its unlisted direct-to-home business, as compulsory digitization and higher foreign ownership limit drive firms to seek capital and market reach. 

* CIPLA: Drugs manufactured by the company have come under scanner of the regulator Drug Controller General of India for failing safety and efficacy tests.

* COAL INDIA: Has signed two fuel supply agreements with NTPC for 2.3 mln tn of coal, thereby ending a year-long dispute over the issue. A petroleum ministry proposal, if accepted by the Cabinet, may allow the state-owned company to explore coal bed methane at its mines as the company already holds licences to the blocks. 

* ELDER PHARMACEUTICALS: Board has approved a plan to restructure the company's business that seeks to reduce debt. French company Sanofi has emerged as the highest bidder for the domestic formulation business of the company. 

* HINDUSTAN MEDIA VENTURES: HT MEDIA's 1.93-mln-share offer for sale in the company was fully subscribed with bids being received for 1.94 mln shares at an indicative price of 120 rupees a share, same as the floor price. 

* HINDUSTAN PETROLEUM CORP: Has signed a joint venture agreement with the Rajasthan government for setting up a 9-mln-tn-per-annum refinery project in Barmer. 

* JET AIRWAYS: Founder chairman Naresh Goyal has found place in a new committee formed by the civil aviation ministry to boost ties with the United Arab Emirates , even as the deal to sell a 24% stake to the UAE's national airline hangs fire. 

* MALABAR TRADING: Board has approved issue of up to 20 mln convertible equity warrants on preferential basis along with the proposal to sell stake in the company's subsidiaries. 

* NESTLE INDIA : Will soon launch its premium chocolate brand Alpino in India to take on Italian brand Ferrero Rocher and Cadbury's Toblerone in the country. 

* OIL & NATURAL GAS CORP: ONGC Videsh plans to restart negotiations with Iraq for finalising the contract for oil block 8. 

* POWER GRID CORP OF INDIA : Has set a coupon of 8.70% on its domestic bond issue. The company plans to raise at least 10 bln rupees through these bonds. 

* SUNDARAM CLAYTON: Promoter Sundaram Finance's offer for sale for four shares of the company received bids for 15 shares. 

* SUN PHARMACEUTICAL INDUSTRIES: Announced that its subsidiary has received final approval from the US Food and Drug Administration to market its generic version of Novo Nordisk's anti-diabetic drug Prandin. 

* TATA POWER: The Maharashtra state electricity regulator has approved a 25% rate rise in the current financial year for the Mumbai region, which will allow the company to recover its dues and improve cash flow and lower interest cost. 

* WIPRO: Has brushed aside media reports that an employee of the company was arrested for issuing Aadhar cards to Bangladeshi immigrants, and said the
person named in the report is not its employee. 

* ZUARI AGRO CHEMICALS: Arm Zuari Fertilisers & Chemicals has raised its shareholding in MANGALORE CHEMICALS & FERTILIZERS to 16%, preparing the pitch for a prolonged takeover battle with DEEPAK FERTILISERS & PETROCHEMICALS CORP.

FREE STOCKS ALERT - 11.07.2013

* APOLLO TYRES: Investment firm Morgan Stanley has bought 2.70 mln shares, or 0.5% stake, of the company at 63.37 rupees per share in a bulk deal. 

* BIRLA CORP: Is planning to invest 25 bln rupees over the next three years to shore up its cement capacity to 13.8 mln tn from 9.3 mln tn at present.

* CAREER POINT: The company's subsidiary Career Point Infra Ltd has acquired Rajasthan-based Coupler Enterprise.

* CENTRAL BANK OF INDIA : To cut its base rate by 25 basis points to 10% from Monday. 

* HINDALCO INDUSTRIES: The company's US-based arm Novelis Inc has raised prices for all its automotive aluminium sheet products in Europe by 160 euro/tn. 

* HINDUSTAN MEDIA VENTURES: Has set floor price for offer for sale at 120 rupees per share.

* ITC: Is gradually expanding its wind power generation capacity to reduce its dependency on external source and has an installed wind farm capacity of 70 MW and is close to setting up 63 MW more. 

* JAIPRAKASH ASSOCIATES: The Supreme Court has extended the stay on the deadline for payment of second instalment of the penalty imposed on Jaiprakash Associates by the Himachal Pradesh High Court till Jul 23, a lawyer said. 

* JAIPRAKASH POWER: Jaiprakash Associates pledged 69.1 mln shares of the company Jul 5. 

* KALINDEE RAIL NIRMAN: Jupiter Metal has made an open offer for 3.72 mln shares of the company at 65 rupees per share. 

* MOIL: Has been granted prospecting licence over 597.44 ha in Nagpur and Bhandara by the Maharashtra government. 

* NEYVELI LIGNITE CORP: The Tamil Nadu government has assured the Centre that Five of its public sector units are willing to buy shares of the company. 

* RAYMOND: Has roped in Sanjay Behl, former head of brand and marketing at Reliance ADA Group as the chief executive officer of the textile and apparel businesses to lead the company's transformation into a global lifestyle company. 

* RELIANCE COMMUNICATIONS: Africa's MTN Group and the company have put negotiations over a potential linkup on hold as the former is sceptical about the industrial logic behind a deal at a time when India is revising its telecommunications merger and acquisitions rules. 

* STATE TRADING CORPORATION: The Cabinet Committee on Economic Affairs will Thursday consider proposals for divestment of government stake in the company and INDIA TOURISM DEVELOPMENT CORP. 

* SUNDARAM CLAYTON: Has set floor price for offer for sale at 293 rupees per share. 

* TATA TELESERVICES MAHARSHTRA: The company which offers telecom products and services under the Tata DOCOMO brand in Mumbai, Maharashtra and Goa circles, today said it lost 80,000 subscribers in Jun, taking its total user base to 10.47 mln. 

* ULTRATECH CEMENT: Has commissioned its 3.3 mln tn per annum clinker plant at Malkhed in Karnataka. 

* UNITED BREWERIES (HOLDINGS): The company's shareholdings in MANGALORE CHEMICALS AND FERTILIZERS, UNITED SPIRITS and MCDOWELL HOLDINGS have fallen sharply as its creditors have invoked pledge on shares of the three companies. 

* WELSPUN ENERGY: Plans to set up solar energy parks across four states and has begun work on acquiring land for a 100-MW plant in Rajasthan. 

* ZUARI FERTILISERS & CHEMICALS: Has purchased 4.1 mln shares of Mangalore Chemicals & Fertilizers Ltd, constituting 3.8% stake, at 63 rupees per share.

FREE DAILY STOCKS ALERT - 09.07.2013

* ALSTOM T&D INDIA : Has secured a 2-bln-rupee order from Bajaj Infrastructure Development Co to supply power plant equipment. 

* BAJAJ AUTO:  Has said about 600 of the 1,458 employees at its Chakan plant reported for work today, which will help it produce more than 1,600 units at the facility.

* BANK OF INDIA : Will take a call on raising 22 bln rupees capital by year-end, according to a top bank official. 

* COAL INDIA; Is now open to changing the terms of the fuel-supply agreement for companies that come forward to make changes in their agreements with the supplier. 

* EDUCOMP SOLUTIONS: Has initiated talks with its lenders and has approached corporate debt restructuring forum to restructure its rupee debt. 

* GILLETTE INDIA: Promoters Procter & Gamble and Saroj Kumar Poddar have restarted talks to decide how much stake the two could sell to comply with the minimum public shareholding requirement. 

* GMR INFRASTRUCTURE: Private equity investors that have infused $300 mln in to GMR Power have decided against exercising the put option in turn helping the holding company avert strain on its balance sheet. 

* JSW STEEL: Has sought shareholders' approval to enhance the borrowing limit by up to 60% at 400 bln rupees. 

* MATHEW EASOW RESEARCH SECURITIES: Board has approved issue of shares on rights basis. 

* MARUTI SUZUKI INDIA : Chairman Bhargava says company is "taking all steps to cut costs", and may lay off workers, "if required". The company's total vehicle output in June was down 25.4% on year at 61,668 units.

* NAKODA: SEBI has ordered promoters of the company to make an open offer to the shareholders of the company. 

* NHPC: Finance Ministry to go ahead with 11.36% divestment in company.

* OIL & NATURAL GAS CORP: The company's share of the subsidy has gone up sharply in June quarter to 43% from 26% a year ago and 34% in the previous quarter. 

* RELIANCE CAPITAL: French courier major GeoPost has acquired 42% stake in domestic courier company DTDC, in turn allowing a complete stake sale by Reliance Capital's private equity arm, which held 39.51% in DTDC.

* SHOPPERS STOP: Has opened a store at Omaxe SRK Mall, Agra . With the opening of this store, the Company has now 61 outlets. 

* SML ISUZU: Has sold 1,341 vehicles in June against 1,521 vehicles year ago. 

* SHRIRAM TRANSPORT FINANCE CO: To raise at least 3.75 bln rupees through public issue of secured redeemable non-convertible debentures. 

* SUNDARAM-CLAYTON: Institutional placement programme to qualified institutional buyers was oversubscribed. Got bids for 1.44 mln shares, against the issue size of 1.26 mln shares.

* SYNCOM FORMULATIONS INDIA : Board has approved five-for-two bonus issue, ten-for-one stock split. 

* TATA MOTORS: Jaguar Land Rover and logistics firm DHL said that plans are in place to minimise the impact on production at the carmaker's UK plants from a threatened strike by DHL staff.

* YES BANK: Madhu Kapur, widow of the co-founder Ashok Kapur, has challenged the process and appointment of six directors on the bank's board and filed a revised petition after the bank questioned the family's joint nomination rights. 

* ZANDU REALTY: Board has approved the merger of Emami Realty with self.

FREE STOCKS ALERT - 05.07.2013

* ADANI ENTERPRISES: The company has pulled out from a $1.7 bln coal railway project with Indonesian state coal miner PT Bukit Asam in South Sumatra, Indonesia.

* BGR ENERGY SYSTEMS: Sasikala Raghupathy, a promoter of BGR Energy Systems Ltd, will sell 2.17 mln shares of the company through the offer for sale route on Friday and has set the floor price at 118 rupees per share.

* CANARA BANK: To cut base rate by 30 basis points to 9.95% from Monday.

* ESCORTS: The Company’s director M.G.K. Menon resigned from board effective Jul 4.

* FIRSTSOURCE SOLUTIONS: Rakesh Jhunjhunwala bought 3.8% stake in the company in bulk deals, data on the National Stock Exchange showed.

* GAMMON INDIA: Creditors have approved a 135-bln-rupee corporate debt restructuring package for the company.

* GAYATRI PROJECTS: The Company’s special purpose vehicle created for executing 1,320 MW thermal power project in Andhra Pradesh is in talks with Power Finance Corp for an equity investment.

* GMR INFRASTRUCTURE: Is in talks with two potential buyers to sell its land in Krishnagiri special economic zone for around 5.5 bln rupees.

* GUJARAT MEDITECH: To issue 13.9 mln shares on preferential basis.

* HINDUSTAN UNILEVER: Market participants expect the company's shares to open down 5-8% today, on decline in investor interest after closure of parent Unilever Plc's 292.2-bln-rupee open offer to up stake in the Indian arm to 75.00% from 52.48% at 600 rupees per share Thursday. The company's open offer saw 320 mln shares being tendered by investors, which is around 65.71% of the company's buyback issue.

* INFOSYS: May chalk out strategic roadmap in the second half of 2013-14 (Apr-Mar), IDFC said in a report.

* ITC: Has raised price of 10-stick packs of Gold Flake Filter cigarettes to 59 rupees from 55 earlier, while that of Gold Flake Premium pack has been raised to 58 rupees from 55 rupees.

* LANCO INFRATECH: The Australian tax department has filed a winding-up petition against Griffin Coal, owned by Lanco, for non payment of tax arrears worth Australian $13.9 mln.

* MARUTI SUZUKI: Has stopped production of two of its top selling models--Swift and Dzire--at its Gurgaon plant from mid-June due to decline in monthly sales volumes of both cars.

* NEYVELI LIGNITE: Workers are on an indefinite strike since Wednesday in response to a call by their unions to oppose the government's decision to divest a 5% stake in the company.

* POLARIS FINANCIAL TECHNOLOGY: Citi Venture Capital plans to exit the software firm, where it holds a strategic stake, when Polaris sells its services division.

* RAJ RAYON INDUSTRIES: Has started the commercial production of its continuous polymerization plant for manufacturing polyester chips from July 01.

* RELIANCE HOME FINANCE: Plans to raise 300 mln rupees via debt.

* SHASUN PHARMACUETICALS: The 12-day strike at the company's unit in Puducherry will cost the company around 200 mln rupees.

* STRIDES ARCOLAB: Board has approved the increase in the limit of investments by foreign institutional investors in the equity share capital of the company to 74% from 49%.

* SUNDARAM CLAYTON: The Company’s IPP committee has fixed the floor price at 293 rupees per share for the proposed share sale.

* TATA COMMUNICATIONS: May resolve to additional debt financing and working capital lines as it looks to invest in new telecom projects.

* UNITED SPIRITS: Diageo Plc has raised its stake in the company to 25.02% with the completion of acquisition of 14.98% stake from the promoters United Breweries (Holdings) Ltd and Kfinvest.