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Stocks in news: Tata Power, Dr Reddys, Bharti, Sun Pharma

This article was posted on Sep 15, 2009 and is filed under Market News

Oil India update
-Ministers panel sets IPO price at Rs 1,050/share: Oil Secretary
-Alert: IPO price band was Rs 950-1050/share
-Listing on September 30

RIL sources on RNRL
-Intervention application weakens NTPC’s case
-NTPC case based on international bidding process
-In RNRL’s case govt rejected $2.34/mmbtu
-RNRL raising issue shows nexus between RNRL, NTPC
RIL sources on NTPC
-Didn’t sign GSPAs due to marketing margins
CNBC-TV18 alert:
RNRL had filed intervention application in RIL-NTPC, called RIL’s marketing margins illegal

CNBC-TV18 exclusive: Fertiliser secretary writes to cabinet secretary seeking additional 43.37 mmscmd of gas to revive plants fund expansion

Bharti-MTN deal: SA Comm Regulator
-Keeping a close eye on the proposed deal
-Deal may need to be subject of public hearings

Pharmasianews.com says
-US FDA accepts Mylan’s application for generic versions of Teva’s Copaxone brand
-Copaxone Generic is Glatiramer Acetate
-Mylan, Natco have tied up for exclusive distribution rights in EU, US and Japan among others
-Glatiramer is considered to be a difficult product to replicate
-Big hurdle crossed for a launch, many more to go: Sources
-Copaxone has global sales of over $1 bn annually

Mint exclusive: Dr Reddy’s says
-Company not hurt by loss of exclusivity on Generic Imitrex
-DRL’s 180-day exclusivity on generic Imitrex ended in August
-Exclusivity on generic Imitrex helped company nearly double revenues
Dr Reddy’s says
-Reaffirm revenue target of $3 billion by 2013
-Omeprazole & Fondaparinux Sodium can both earn $1.5 billion
-Company today launched Anti-Diabetes drug Nateglinide

Sun Pharma says ((Only mild positive, spoke to Uday Baldota))
-Hart-Scott-Rodino (HSR) waiting period for Taro open offer has expired
-HSR condition to the offer is satisfied
Alert: This means anti-trust clearance is now again with Sun

Other stocks that are in news today:
-S&P revises Tata Power Outlook to positive with significant progress on key projects; ‘BB-‘ rating affirmed
-Tata Motors sells 50 lakh shares in Tata Steel to Tata Sons @ Rs 473/share; raises Rs 236 crore
-In T2T from September 18- Archies, House of Pearl, Raj TV, ANG Auto, Ashapura Minechem, GMR Industries
-Board meet today: Electrosteel Castings on QIP/debenture issue
-Dolphin Offshore allots 9.85 lakh shares on FCCB conversion at Rs 161/sh, converts FCCBs worth $3.5 million ((Clearwater Cyprus has converted 3,495 FCCBs worth Rs 1,000 each))

source: moneycontrol

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