Stocks in news: Satyam, Jet Airways, Aventis, Unitech

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Stocks in news: Satyam, Jet Airways, Aventis, Unitech

This article was posted on Feb 16, 2009 and is filed under Stock News

Indian ADRs: Satyam up 12%, Tata Motors up 2%, Infosys, HDFC Bank, ICICI Bank down 2%

Alert: Interim Budget today

SEBI announces takeover norms for distressed companies; relaxes strict compliance of prov of chapter III in certain cases.

Sources say: On special takeover code
-Open offer in most cases to be made unless specific exemption from SEBI
-SEBI working on changing preferential allotment guidelines

Satyam update:
-Says will move very fast on stake sale; to make sure bid is open & transparent
-Kiran Karnik says may have to seek govt nod/consult for approval of stake sale process
-World Bank Says Can Review Satyam Ban If Co Takes Corrective Action: PTI
-Merrill Lynch to shift Satyam contract to TCS – ET
-Board Gives Preliminary Indications To Ram Mynampati To Resign: Sources

DIPP proposes up to 100% FDI in single brand retail subject to some conditions

Exclusive: TRAI Official Says: TRAI will not propose restrictions on cross media ownership

Jet fuel prices slashed by 3.8%, Jet Airways has cut international prices by 30%

IOC Says ATF Prices To Decline By An Avg Of Rs 1,206/kl

DGCA says to process reports from airlines & decide on further course of action

ICICI Bk, HDFC BK waiting for clarification whether they will be reckoned as Indian entities for FDI – ET

UB Group plans to offload stake in Aventis Pharma – BS ((Co says had plans to sell all non-core investments in 12 months))

NTPC will be allowed to hike stake in JV/sub to 50% of networth as against current delegation of 30% – FE

Telenor
-Plans To Up Stake In Unitech Wireless To 74% On Deal Closure
-Plan To Launch Telecom Ops In India By Jul-Sep
-Alert: Telenor’s Current Plan Is To Have 60% Stake In Unitech Wireless

Trading in State Bank of Mysore to resume from today ((after stock split))

PSI Data Systems delisting offer opens today ((Aditya Birla Nuvo plans to buy 22.1 lakh shares, floor price Rs 45.3/sh, CMP Rs 60.35))

Bartronics India says to earn minimum revenue of Rs 5000 cr over 9 years in Delhi kiosks project

Aptech to use proceeds from China JV to acquire 22% stake in Beida Jadebird IT Education Co

MMRDA Extends Deadline For Mumbai Metro Phase-II To March 16

Pledge meter:
-M&M Promoters Pledged 8.09% Stake In Co
-Suzlon Promoters Pledged 25.85% Stake In Co
-Reliance Capital Promoters Pledged 4.03% Stake In Co
-Parsvnath Promoters Pledged 63.88% Stake In Co
-Provogue India Promoters Pledged 12.98% Stake In Co
-Logix Micro Promoters Pledged 3.26% Stake In Co
-Raj TV says promoters have not pledged any shares

Board meets:
-Hexaware results
-Karma Ispat on issue of shares / convertible warrants on preferential basis

Akruti still in NSE F&O curb

Cognizant Q4
-Revenues up 26% At $753 m (YoY); up 2.5% (QoQ)
-Diluted US GAAP EPS At $0.38 Vs $0.32 (YoY)
-Guides Atleast 10% Growth At $3.1 Bn For 2009

source: moneycontrol

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