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Stocks in news: Bharti, DLF, Akruti, GAIL, Satyam, Sobha

This article was posted on Mar 26, 2009 and is filed under Stock News

Here are stocks that are expected to remain in news today:

Satyam – Exclusive
-Satyam due diligence process begins, to continue till April 4; financial bids have to be submitted by April 9.
-Spice Corporation – Sources Say: Decision on Satyam bidding expected today

Bharti Enterprises Says – Exclusive
-Indus Towers & Bharti Infratel listing possible next year
-Indus Towers to be listed first, followed by Bharti Infratel
-Indus Towers to add 20,000 towers by end of next year
-Will continue to provide towers on non-discriminatory basis
-Alert: Earlier plan was to list Indus Towers & Bharti Infratel in 2-3 years
-Alert: Bharti Infratel, Vodafone Essar hold 42% stake each in Indus Towers
-Alert: Aditya Birla Telecom owns 16% stake in Indus Towers
-Alert: PE Firm KKR, Temasek, ICD, GS, others hold stake in Bharti Infratel

DLF-DAL : Exclusive
-DLF may hold effective 30-40% in DAL post acquisition of DE Shaw’s stake: Sources
-Alert: DE Shaw had paid $400 million at 9% cap rate in April 2007
-Alert: DE Shaw holds compulsory convertible preference shares of DAL
-DLF Assets will not be merged with DLF: Sources
-DLF-DAL merger unlikely as DAL a SEZ company developer: Sources
-In case of merger, tax benefits may not carry forward: Sources
-DAL looking to close $450 million PE deal in April: Sources
-Fresh shares will be issued for PE investors: Sources
DLF enters into franchise agreement with high-end brand DKNY

Other stocks and sectors in the news
Akruti City all F&O contracts to expire today, will be in T2T from tomorrow; still in NSE F&O curb
Brandhouse Retails to list on March 27 ((demerged entity of S Kumar’s promoters, co does not hold any stake))
Sobha Developers gets nod from MFs to roll over Rs 350 crore worth debt – BS
GAIL to spin off marketing company, new company to be listed soon –ET
S&P lowers rating of Tata Motors to ‘B+’ From ‘BB-
Reliance Infrastructure defers Hyderabad Project by 6-8 months: Mint ((Rs 8000 crore, 77 acre, 100 storey tower))
Pantaloon seeks cancellation of registration granted to ADAG for using Reliance Big Bazar trademark –Mint
Firstsource Solutions buys back FCCBs worth $15.8 million
Hikal board approves merger of wholly owned subsidiary Hikal Pharma with itself
Graphite India board meet on March 27 to mull demerger of Powmex Steels of GKW into itself
Board meets:
-Maytas Infra
-Federal-Mogul, Goodyear India results
-Zodiac JRD- MKJ on issue of shares to MKJ Jewellery shareholders ((on amalgamation))

Indian ADRs: Tata Motors down 6%, HDFC Bank up 5%, Infosys, Satyam up 2%

RBI says: From NW18
-Excess provision on NPA sale can be added to Tier II Capital
-Banks’ floating provisions can be treated as Tier II Capital
-Banks can net off excess provision versus norm from gross NPA

source: Moneycontrol

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