New Delhi: Here is the list of top stocks that were in focus on Monday:
Reliance Industries: A consortium led by Reliance Industries Ltd (RIL) is one of the companies seeking to acquire Syntex Industries Ltd, the bankrupt garments maker said in a stock exchange filing on Sunday. RIL has partnered with Asset Care and Reconstruction Enterprises Ltd to bid for Syntex as part of the bankruptcy resolution process.
ONGC: The company is seeking a minimum price of $3.5-$4 for a coal seam in Jharkhand and plans to produce natural gas from a field in Tripura. Oil and Natural Gas Corporation (ONGC) has floated separate tenders for seeking buyers of 0.02 million standard cubic meters per day coal-bed methane (CBM), which is planned from Jharkhand’s North Karanpura CBM block and from Khubal field. To produce 0.1 mmscmd. Tripura.
Vedanta Limited: The company has approved the second interim dividend of 13.50 per equity share at the face value of Re 1 per share for the financial year 2012, amounting to 5,019 crore.
lupineDomestic drug company Lupine is recalling 4,113 cartons of generic oral contraceptive tablets in the US, the world’s biggest market for the drugs, due to manufacturing issues. The affected lots have been manufactured at the company’s manufacturing facility at Pithampur in Madhya Pradesh.
United Breweries: The company plans to introduce brands from the global portfolio of Dutch multinational company Heineken, which now holds a majority stake. It is also looking at prioritizing the beer market.
csb bank: The promoters of CSB Bank, the Fairfax Group owned by Canadian billionaire Prem Vats, want to hold their 51% stake in the bank for as long as possible and increase it if permitted. RBI last month relaxed the shareholding norms for private banks by eliminating the intermediate milestone and increasing the maximum long-term shareholding from 15% to 26%.
speed limited: Gati Ltd., a firm of the Allcargo Group, wants to become a 3,000 crore company in three years, driven by leading accounts, Micro, Small and Medium Enterprises (MSMEs) and Business-to-Business (B2B) retail. It has identified three areas, including talent acquisition and infrastructure creation, to achieve the target.
UltraTech Cement: The company participated in the e-auction of Ravur Limestone Block organized by the Government of Karnataka and was declared as the preferred bidder.
public sector banksThe government is unlikely to announce capital infusion for public sector banks (PSBs) in the upcoming budget, as their financial position has improved due to reduction in bad loans. To increase their resources, banks will be encouraged to raise funds from the market and sell their non-core assets. For the current financial year, the Center has set 20,000 crore for recapitalization of PSBs.
Minda Industries: The company has entered into a joint venture agreement with FRIWO AG Germany, a leading international manufacturer of innovative power supply units and e-drive solutions, to manufacture and supply various electric vehicle components in the Indian subcontinent. The company will hold 50.1% stake in the joint venture unit.
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