Here are stocks that are in news today:

Adani Power to list today, issue price Rs 100 ((grey market premium Rs 10-12))

Sterlite – Sources
-Sterlite to raise bid for Asarco to nearly $2.1 billion
-Sterlite raises bid to maintain participating interest
-Alert: Grupo Mexico raised Asarco bid to $2.2 billion in cash

MTN – Sources – Exclusive:
-MTN board keen to sign indicative agreement by August 28
-Bharti needs to update MTN on PIL case in SAT
-MTN board gives go-ahead for signing indicative agreement

Tata Tea
-Tata Tea sells entire 24.52% stake in Rallis India to Tata Chemicals at Rs 850/share via inter-se transfer
((off market transaction; deal size Rs 249.8 crore, CMP of Rallis India Rs 742, premium of nearly 15%))
Tata Chemicals
-Acquires 35.68% stake in Rallis India from other promoters via inter-se transfer ((including Tata Tea))
-Holding in Rallis India goes up to 45% after inter-se transfer

HDFC says
-Not in compliance with NHB guidelines on capital market exposure
-Alert: HDFC’s current capital market exposure at 43%
NHB Says:
-HDFC’s exposure to cap markets not to exceed 40% of net worth
-HDFC given time until December 2009 to comply
-HDFC’s investment in HDFC Bank treated as capital market exposure
-Alert: HDFC holds 23.26% stake in HDFC Bank
Sources Say:
-HDFC not ready to trim stake in HDFC Bank before December 2009
-HDFC to seek extension for increased capital market investment

HOEC says:
-Production from PY-3 field to re-commence from September
Alert: Production from PY-3 field was shut in July for maintenance
-Adverse marine conditions delay repairs to PY-3 field
Alert: Company has 21% non-operating participating interest in PY-3 field

WNS stake sale:
-IT & PE firms line up to buy stake in WNS : Sources
-Suitors eyeing 50.12% stake in WNS : Sources
-HCL Tech, IBM Daksh, Quatrro Solutions have placed bids
-Alert: Warburg Pincus to exit WNS, sees $400 million from stake sale

Continued on the next page…
Tags: HOEC, HDFC, HCL Tech, Cyber Tech, MSP Steel, Sun Pharma, Bharti Shipyard, IOC, Hanung Toys, Tata Chemicals, Rallis India

Board meets:
-Cyber Tech Systems on buy back
-MSP Steel on preferential issue

Other stocks that are in news today:
Sun Pharma wins US court ruling in Eli Lilly patent case, clears way for low-cost cancer drug launch in 2010
Bharati Shipyard warehousing Great Offshore shares, to up stake to 26%: NW18
5.48 crore IndusInd Bank shares to hit the market ((QIP issue))
IOC says plan to acquire producing oil assets overseas jointly with Oil India: DJ
Hanung Toys board meet on August 22 on issue of shares up to $50 million
Ex-split: Shree Ashtavinayak Cine from Rs 10 to Re 1
Ex-dividend: GAIL @ Rs 3
Ex-bonus: Kanani Industries @ 2:1, Glodyne Technoserve @ 1:1

Tags: HOEC, HDFC, HCL Tech, Cyber Tech, MSP Steel, Sun Pharma, Bharti Shipyard, IOC, Hanung Toys, Tata Chemicals, Rallis India

source: moneycontrol

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