Daily Stock News
Published on Friday, July 3rd, 2009 at 1:19 PMAuthor: insight95in (92 Articles)
Corporate News – Industry trends
* Maytas Infra Ltd, announced that lenders have agreed to infuse Rs 1bn capital immediately into the company apart from restructuring its Rs 16bn debt (BS)
* Punj Lloyd said it had bagged three contracts worth Rs 18.7bn from
the Housing and Infrastructure Board of Libya for infrastructure related
works (BS)* Ashok Leyland has bagged a Rs 3 bn order for 1,500 buses from Tamil Nadu State Transport Corporation (BL)
* Tata Steel, plans to sell global depositary receipts (GDRs) worth about US$600 mn (BS)
* Pyramid Saimira Theatre Ltd (PSTL) paid a part of its interest portion to Patni Financial Services at Madras High Court. It paid Rs 25 lakh, of the total of Rs 50 lakh, as interest on the loan of Rs 5 crore that it had borrowed from Patni Financial Advisors (BS)
* Housing Development & Infrastructure Ltd (HDIL), a Mumbaibased property developer, has raised Rs 16.8bn from global investors, such as KKR, Blackstone and Fidelity, in a (QIP) of its shares (BS)
* Century Textiles and Industries, will spend nearly Rs 6.2bn in the first phase of Century Mills land development in Mumbai, according to information put out by the company (BS)
* RIL will partially shut its old refinery in Gujarat for two-three weeks, starting on Friday (Mint)
* After a long-drawn fight with real estate player Hiranandani over its investment vehicle Hirco Plc, Laxey Partners — an activist shareholder in the company — exited its investment by selling its entire stake in Hirco to global investor HSBC (BS)
* Strides Arcolab partially buys back two tranches of its FCCBs. It bought $18.50 mn aggregate face value from a $100 mn FCCB at a discount of 12% and another other set of $2 mn aggregate face value at 15% discount. (BL)
* DLF Ltd to raise Rs 3-5 bn by selling its stake in a joint venture with Akruti City for a commercial project in Andheri (DNA)
* NTPC eyes $500 mn Japanese funds for green-energy push, company plans to build additional capacity of 3,300 mw this year (ET)
* Hindalco Industries, receives approval from lenders to amend the terms of a $982 mn loan it had obtained to part-finance the acquisition of Novelis Inc., the lenders will now consider only the financial performance of Hindalco Industries on a standalone basis (BL)
* Emami’s mops up ~Rs 3.10 bn by issuing some 1,00,00,000 equity shares of Rs 2 each at Rs 310 per share to 8-10 QIBs. (ET)
Economic/Regulatory development
* The pre Budget Economic Survey 2008-09, said India could grow up to 7.75% in 2009-10, up from 6.7% in 2008-09, provided the global economy, particularly the United States, bottomed out by September and the government was able to push the button on significant economic policy reforms (BS)* The wholesale price index fell 1.3% in the week to 20 June from a year earlier after tumbling 1.14% in the previous week (Mint)
* Truck rentals are set to rise 6 to 12% after diesel prices were raised by Rs 2 a litre yesterday (BS)
Commodity/Money Market News
* Unilever plans to spend US$140 mn on building Russia’s largest ice cream factory to tap the country’s increasing appetite for cones and popsicles. The plant is expected to produce its first ice cream at the start of 2011 (BS)
* The European Central Bank kept its key interest rate unchanged at 1% (Mint)
* US unemployment rate rises to highest level in 25 years (Mint)
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