Results today: Tata Steel, Unitech, Indiabulls Securities, Matrix Labs, AIA Engineering, Classic Diamonds, Gulf Oil, HBL Power, Mirc Electronics, Punjab Chemicals, RPG Life Sciences, Omax Autos

Alert: Rainfall this year to be 93% of long period average

Suzlon – Sources:
-Suzlon likely to sell 61.28% in Hansen to European firm
-Alert: Suzlon holds stake in Hansen via AE-Rotor Holdings BV
-Deal size likely around $1.1-1.3 billion; values hansen at $1.8-2.1 billion
-Deal announcement by weekend along with quarterly results
-Alert: Hansen’s current market cap is $1.5 billion (LSE listed)
-Suzlon management to CNBC-TV18: cannot comment on market speculation

Pfizer
-Revises open offer price to Rs 830 from Rs 675 a share ((CMP Rs 855))
Alert:
-Pfizer had made an open offer for 34.5% stake
-Pfizer currently holds around 41% stake in Indian arm
-Pfizer open offer closes on July 4
-Pfizer says not looking to delist Indian arm for next 3 years

Global updates:
-Groupo Mexico hikes bid for Asarco by $240 million (8%) to $3.1 billion
-China’s Sinopec to buy Addax for $ 7.2 billion: WSJ
((Media reports in London earlier suggested ONGC and RIL were also in race))

ONGC Q4
-Sales down 12.3% at Rs 13,703.6 crore versus Rs 15,626.07 crore
-OPM at 42.18% versus 36.97%
-Net profit down 16% at Rs 2,206.78 crore versus Rs 2,627.1 crore

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Gateway Distriparks FY09
-Net Sales up 23% at Rs 203.56 crore versus Rs 165.92 crore
-OPM at 57.6% versus 54%
-PAT up 25% at Rs 93.75 crore versus Rs 75.21 crore

Other stocks that are in news today:
Grasim CFO says no need to merge UltraTech with company as of now: NW18
From Sources: Wockhardt expects CDR (corporate debt restructuring) process to be over by June-end: PTI
Exclusive: From Sources: M&M working on top management rejig, company declines to comment
Punj Lloyd board approves raising up to Rs 1500 crore
Peninsula Land board approves raising up to Rs 750 crore via ADR / GDR / FCCBs
SBI cuts BPLR by 50 bps to 11.75% from June 29
Jaiprakash set to merge JP Power venture with JP Hydro – BS
IFCI plans to foray into retail banking – HT
ACC forms JV with MP government for four coal blocks
Bajaj Hindusthan buys back FCCBs worth $20 million
NSE bars further F&O positions in Essar Oil as 95% of market wide limit reached
Board meets: HBL Power on stock split
Farmax Retail to resumed trading, no circuit filter today

Indian ADRs: Satyam, Wipro, Tata Motors up 4%, HDFC Bank up 3%, Infosys up 2%

Tags: 25th July, grasim, ONGC, Pfizer, punj lloyd, stocks in news, Suzlon

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