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Stocks in news: Kingfisher, Satyam, GE Ship, Tide Water

This article was posted on Feb 27, 2009 and is filed under Stock News

How Indian ADRs fared in US markets: Satyam, ICICI Bank down 5%, HDFC Bank, Infosys down 2%, Tata Motors down 1%

News picks
Alert: RBI governor to meet bankers today to discuss credit flows, liquidity situation

Government clarifies policy on downstream investment through press note 4, 2009

Government says:
-Foreign investment in all operating-cum-Investing companies to comply with sectoral caps
-Foreign investment in downstream holding by operating-cum-Investing companies to comply with sector caps
-Foreign investment in all non-operating ‘Investing’ companies requires FIPB approval
-Alert: Press Note 3 (1997) & Press Note 9 (1999) repealed

Exclusive: Kamal Nath says there is room for interest rates to go down

Interim Trade Policy
-Additional Rs 325 crore export sops for leather & textile industries
-Removes import curbs on gems & jewellery

Exclusive: Vijay Mallya says
-in conversation with more than one suitor, Diageo is one
-Negotiations with PE investor continue regardless of FIPB nod
-In talks with PE to raise $400 million for Kingfisher Airlines
-Pledged shares at no risk, serve as top up to existing collateral
-Kingfisher’s dues to OMCs stand at Rs 350 crore
-Have applied for an extension for payment of dues
-In dialogue with oil marketing companies & oil ministry

Satyam Update:
-Board may allow non-it companiesto bid for Satyam
-FIs may ask L&T to be cautious while bidding for Satyam ((L&T holds 12.4% stake in Satyam))
-SEBI issues show-cause notice to Price Waterhouse on Satyam issue – ET
-Sources say 4 proposed directors on Maytas Infra board may be govt-appointed
-Exclusive: IFCI sources say will accept board seat in Maytas Infra if offered
-CLB refuses supersession of Maytas Infra board
-Order on Maytas Prop still reserved; may be announced on Tuesday

PE players eye Sony promoter’s 32% stake in company– ET

IT department moves to court to recover Rs 500 crore from BSE brokers – BS

GE Shipping to trim $600 million order book – BS

Kolkata businessman Jalan acquires 14% in Tide Water Oil, Andrew Yule; promoter of Tide Water suspected Jalan has acquired more than 15% stake in Co – Mint

Reliance Infra seeks MERC nod for 5% hike in FY10 power tariff: NW18

GAIL signs agreement with National Fertilisers & Urvarak Videsh to supply natural gas

Wockhardt gets US FDA approval for ulcers & hyperacidity syrup Hydrochloride ((total US market size $51 million))

Source says Torrent Power top bidder for Agra distribution franchise: NW18

Dish TV says to pass on full benefit of service tax reduction to customers

EID Parry says bought back 92.8% of max buyback size, to close issue from March 02

KNR Constructions 51:49 JV bags order worth Rs 576 crore in Andhra Pradesh

ABG Shipyard: no new F&O contracts to be issued today

PSI Data system accepts discovered price of Rs 60/sh as delisting price, opens today, closes March 13

Pledge meter:
-Gujarat NRE Coke Promoters Pledged 14.7% Stake
-Gammon India Promoters Pledged 9.21% Stake

Board meets: Bata India, MphasiS, Tata Steel, Thomas Cook results

Akruti comes out of NSE F&O curb

Ex-split: Vishal Information Technologies from Rs 10 to Re 1 ((goes into ND period, out on Mar 6))

New listing: Edserv Softsystems to list from March 2, issue price Rs 60

source: Moneycontrol

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