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Stocks in news: Satyam, IFCI, Areva T&D, Cambridge Sol

This article was posted on Feb 20, 2009 and is filed under Stock News

Indian ADRs: Satyam down 7%, Infosys down 2%, ICICI Bank down 1%, Wipro up 1%

Another stimulus package possible: Pranab Mukherjee
SEBI to amend norms on pricing of preferential issue: BL.

Satyam update: CLB Says
-Company law board okays Satyam stake sale plan
-Authorise hike in Satyam capital base to Rs 280 crore
-Authorise preferential allotment of equity shares
-Preferential allotment to be made at par or at premium
-Clears open competitive price bidding for strategic partner
-To issue another 60 crore shares at Rs 2 face value

Satyam update:
-Satyam likely to sell 26% stake to strategic partner: Sources
-Satyam in favour of subsequent open offer of 20% by acquirer: Sources
-Investment bankers say 12 companies have evinced verbal interest: Sources
-SEBI to change preferential allotment norms in line with new takeover norms: Sources
-Government may ask board to fast track restatement of accounts: Sources

Exclusive: Sources Say
-IFCI still holds Rs 100 crore worth of shares pledged by Unitech
-Unitech has to repay Rs 50 crore to IFCI in June

Areva T&D bags orders worth Rs 200 cr

Bayer-Cipla case over Nexavar adjourned till February 25 ((Nexavar used for treatment of kidney & liver cancer))

IOL Netcom board approves preferential issue of up to Rs 150 crore

Cambridge Solutions open offer opens on February 25, closes on March 16

Board meets:
-ABB, Areva T&D results
-Shree Renuka on merger of 2 wholly owned subsidies with itself

Akruti, Educomp still in NSE F&O curb

3.34 crore Zydus Wellness shares to hit the market ((formerly known as Carnation Nutra; shares issued to shareholders of erstwhile Cadila))

source: moneycontrol

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