BLOOMBERG : MD: Gitanjali Gems
• To complete recast of operations in 2 months
• Ops recast aimed at improving valuations
• May bring strategic investor post restructuring
• Many investors have shown interest for stake buy
FAIRE GROWTH MEANS..... TO MAKE GROWTH
Wednesday, March 28, 2012
BLOOMBERG : Source:
• IVRCL briefed FIIs, MFs on Essel Group's stake buy in co
• Essel Group acquired 10.19% stake in IVRCL via open mkt
• FII, MF assure support to IVRCL if Essel makes hostile bid
• Promoters own 11.18% stake in IVRCL; MFs, FIIs 42.51%
BLOOMBERG il India CMD :
• To start drilling onland block in KG basin in Sep
• Plans to drill 6 wells in KG basin block in 2 yrs
• To start drilling in Mizoram block in Sep-Oct
• To drill 5-6 wells in Mizoram block over 2 yrs
• Seismic study at Mizoram block encouraging
• Asked govt to adjust crude cess hike with subsidy
• Expressed interest to buy Reliance Gas Transport
28-03-2012
NIFTY VIEW:
Market is expected to open on flat note, we can see Nifty spot to trade around 5230-5240 in opening trade, if Nifty spot able to cross the 5250 level we could see some support buying to initiate in market, Nifty spot is having resistance at 5250-5280 above 5280 we can see some comfort in market and it could move till 5320, whereas Nifty spot is having supports at 5220-5170 below that we may see some selling pressure in market and it could slide lower till 5150.
BOARD MEETING :
• INTERNATIONAL CONVEYORS to mull merger of arm with self.
• EIH ASSOCIATED HOTELS to consider rights issue.
• DEEP INDUSTRIES to mull allotment 1.37 mln shares on conversion of warrants.
• GATEWAY DISTRIPARKS to mull interim dividend.
• UNITED NILGIRI TEA ESTATES CO to consider interim dividend.
• ADF FOODS to mull issue of shares to promoters on conversion of warrants.
DATA ALERT FROM OVERSEAS
• FRANCE GDP for fourth quarter.
• UK QUATERLY GDP for fourth quarter.
• UK BALANCE OF PAYMENT for fourth quarter.
• US MBA WEEKLY MORTAGE APPLICATIONS SURVEY for wk ended Mar 23.
• GERMANY PROVISIONAL CPI for Mar.
• US CRUDE OIL STOCKS in week to Mar 23.
• US GASOLINE STOCKS in week to Mar 23.
• US DISTILLATE STOCKS in week to Mar 23.
• US REFINERY USAGE in week to Mar 23.
MARKET NEWS:
• LIC allowed to buy over 10% in listed firms
• SBI hikes fixed deposit rates by up to 1%
• GAAR will not harass honest foreign investors, assures finance minister
• IL&FS Investment joins Milestone in selling holdings in 2 JV funds
• Telenor issues notice to government on 2G
• Valuation battle hots up as Shriram looks to exit Honda JV
• Govt says plan to divest 10% in NALCO under "active consideration"
• Bombay HC adjourns Vodafone transfer pricing case until Apr 17
• Promoter group raises stake in Welspun India to 43.66% vs 41.63%
• Power Grid board OKs capex proposals worth 98.84 bln rupees
• Alstom bid lowest in Power Grid's Chhattisgarh-Haryana line tender
• Promoter Accelya's stake in Kale Consultants rises to 72.27%
• Subex gets multi-million dollar deal from Asia Pacific telecom co
• COAL INDIA: Its board is set to meet today to finalise the model fuel supply agreement, which it could then sign with over 50 upcoming power plants in the country before Mar 3.
• DLF: Promoters will dilute equity in the company from current 78.60% by the end of 2012-13 (Apr-Mar) to comply with the SEBI norm of minimum public share holding of 25%.
• DUNLOP INDIA: May challenge the liquidation order passed by the Calcutta High Court.
• ICICI BANK has moved the Calcutta High Court to participate in the wind-up proceedings of the company.
• GODREJ INDUSTRIES: The company's premium food and grocery retail chain, Nature's Basket, plans to spend 80 mln rupees to open six-eight outlets by March 2013.
Market is expected to open on flat note, we can see Nifty spot to trade around 5230-5240 in opening trade, if Nifty spot able to cross the 5250 level we could see some support buying to initiate in market, Nifty spot is having resistance at 5250-5280 above 5280 we can see some comfort in market and it could move till 5320, whereas Nifty spot is having supports at 5220-5170 below that we may see some selling pressure in market and it could slide lower till 5150.
BOARD MEETING :
• INTERNATIONAL CONVEYORS to mull merger of arm with self.
• EIH ASSOCIATED HOTELS to consider rights issue.
• DEEP INDUSTRIES to mull allotment 1.37 mln shares on conversion of warrants.
• GATEWAY DISTRIPARKS to mull interim dividend.
• UNITED NILGIRI TEA ESTATES CO to consider interim dividend.
• ADF FOODS to mull issue of shares to promoters on conversion of warrants.
DATA ALERT FROM OVERSEAS
• FRANCE GDP for fourth quarter.
• UK QUATERLY GDP for fourth quarter.
• UK BALANCE OF PAYMENT for fourth quarter.
• US MBA WEEKLY MORTAGE APPLICATIONS SURVEY for wk ended Mar 23.
• GERMANY PROVISIONAL CPI for Mar.
• US CRUDE OIL STOCKS in week to Mar 23.
• US GASOLINE STOCKS in week to Mar 23.
• US DISTILLATE STOCKS in week to Mar 23.
• US REFINERY USAGE in week to Mar 23.
MARKET NEWS:
• LIC allowed to buy over 10% in listed firms
• SBI hikes fixed deposit rates by up to 1%
• GAAR will not harass honest foreign investors, assures finance minister
• IL&FS Investment joins Milestone in selling holdings in 2 JV funds
• Telenor issues notice to government on 2G
• Valuation battle hots up as Shriram looks to exit Honda JV
• Govt says plan to divest 10% in NALCO under "active consideration"
• Bombay HC adjourns Vodafone transfer pricing case until Apr 17
• Promoter group raises stake in Welspun India to 43.66% vs 41.63%
• Power Grid board OKs capex proposals worth 98.84 bln rupees
• Alstom bid lowest in Power Grid's Chhattisgarh-Haryana line tender
• Promoter Accelya's stake in Kale Consultants rises to 72.27%
• Subex gets multi-million dollar deal from Asia Pacific telecom co
• COAL INDIA: Its board is set to meet today to finalise the model fuel supply agreement, which it could then sign with over 50 upcoming power plants in the country before Mar 3.
• DLF: Promoters will dilute equity in the company from current 78.60% by the end of 2012-13 (Apr-Mar) to comply with the SEBI norm of minimum public share holding of 25%.
• DUNLOP INDIA: May challenge the liquidation order passed by the Calcutta High Court.
• ICICI BANK has moved the Calcutta High Court to participate in the wind-up proceedings of the company.
• GODREJ INDUSTRIES: The company's premium food and grocery retail chain, Nature's Basket, plans to spend 80 mln rupees to open six-eight outlets by March 2013.
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