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Stocks in news: Dr Reddy, Infosys, Tata Power, NTPC, NMDC

This article was posted on Jul 22, 2009 and is filed under Press Releases

Results today: BHEL, HDFC, Wipro, Tech Mahindra, Mastek, Piramal Healthcare, IFCI, India Cements, Hindustan Zinc, Ansal Housing, Aventis Pharma, Canara Bank, Finolex Cables, GTL, Jindal Drilling, Kale Consultants, Kalindee Rail, Lakshmi Energy, Maharashtra Seamless, NDTV, Spice Communications, TCI, Unichem Labs, Visa Steel, WWIL

Bharti-MTN – Exclusive: Sources
-Bharti-MTN may extend deadline for exclusive talks
-Bharti-MTN due diligence still on
-Bharti-MTN management meetings underway
-Several agreements being worked on

Tata Power
-Launches $250 million GDR issue, with option to retain higher amount
-To raise $400 million at Rs 1,090/sh: Sources

Forest Lab Concall:
-No additional information on Oglemilast
-Announcement on progress of Oglemilast to come in this quarter
-Alert: Glenmark up 8% yesterday on hopes of progress of Oglemilast

Adani Power
-Fixes IPO price band at Rs 90-100/share
-Minimum IPO bid slot set at 65 shares

Moody’s says – Tata Steel
-Tata Steel rating unaffected on company’s planned GDR issue
-Tata Steel rating maintained at Ba3; outlook stable: Moody’s
-Tata Steel GDR issue to help cover cash flow deficit: Moody’s

ITC: YC Deveshwar Says
-Rs 4,000 crore greenfield project planned for paper business
-Rs 8,000 crore investment planned for hotel business

SAIL Says:
-To expand capacity to 23 million tonnes by 2012
-May lower prices of long products

Deccan Chronicle
-Gets SEBI nod for buy back
-Alert: Company plans to buy back 3.5 cr shares at max Rs 100/sh ((CMP Rs 81.70))
-Alert: SEBI grants exemption from making open offer

Here are other stocks that are in news today:
Steel ministry says likely to approve disinvestment of NMDC & MOIL
UK govt on JLR loan: Waiting for Tata Motors’ response to government’s offer
Infosys bags order for eBiz project from Commerce Ministry
NTPC seeks legal view on Govt petition – Mint
Forensic review on at Bank of Rajasthan to look into some irregularities – Mint ((Certain transactions at Lucknow of Sahara were suspicious))
Reliance Infrastructure buys 51% of Rel Cementation from RNRL
Zensar Technologies board meet on July 23 on buy back
Adhunik Metaliks board meet on July 29 on merger of Zion Steel with itself
Vaghani Techno Build, S&T Corporation to resume trading from July 22
Ex-dividend: Tata Communications @ Rs 4.50

Dr Reddy’s Q1 YoY (IFRS)
-Net Sales up 20% at Rs 1819 crore versus Rs 1503.8 crore ((Estimates Rs 1809.34 crore))
-Operating Profit at Rs 279 crore versus Rs 163.3 crore
-OPM at 15% versus 11%
-Net Profit at Rs 244.5 crore versus Rs 111.5 crore ((Estimates Rs 187.84 crore))

source: Moneycontrol

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