Stocks to watch: BPCL, Ultratech, Grasim, Jindal Steel, TCS, GMR Infra, Gujarat Ambuja
Oil Marketing Companies are likely react positively after a panel headed by Kirit Parikh has suggested a clean break from past with market-linked prices for auto fuels and a sharp increase in the prices of kerosene and cooking gas.
By ET Bureau |
MUMBAI: Oil Marketing Companies like BPCL ,HPCL, IOC are likely react positively after a panel headed by Kirit Parikh has suggested a clean break from the past with market-linked prices for auto fuels and a sharp increase in the prices of kerosene and cooking gas. If the recommendations of the expert group, chaired by the former planning commission member, are implemented, it will result in annual cost saving of over Rs 30,000 crore at current levels of under-recoveries for oil companies.
India’s two largest cement groupings are fighting it out for the top slot. The Aditya Birla group, which is in the process of merging the cement business of two of its companies, Grasim and another firm called UltraTech to create the country’s largest cement maker, has firmed up investment plans to take on arch rival, Holcim. The UltraTech-Grasim combine will invest around Rs 7,000 crore to set up three greenfield facilities which are likely to come up in the states of Chattisgarh, Andhra Pradesh and Tamil Nadu in the next three-four years.
In a surprise development, the Australian coking coal producer Rocklands Richfield on Wednesday abruptly ended the buyout talks with Jindal Steel even though the Indian firm had matched the price offered by a rival Chinese bidder earlier.
The long delay in the rolling out of TCS' passport project seems to finally getting over. According to a report in a business daily, TCS' Passport Seva Project, which aims to issue passports in flat three days, is all set to be launched in a week or two.
GMR Infrastructure, is planning to refinance $750 million (Rs 3,500 crore) of debt, it took to acquire 50 per cent stake in Intergen NV, say reports.
Hemendra Kothari, the owner of financial services company DSP, has purchased Gujarat Ambuja’s 12% stake in ING Vysya Life Insurance Company. The purchase is not a strategic one and is an investment by Mr Kothari in his personal capacity.
Mounteverest Trading & Investment has announced has decided to allot three equity shares as bonus shares for every one equity share held by the shareholders on the record date.
India’s two largest cement groupings are fighting it out for the top slot. The Aditya Birla group, which is in the process of merging the cement business of two of its companies, Grasim and another firm called UltraTech to create the country’s largest cement maker, has firmed up investment plans to take on arch rival, Holcim. The UltraTech-Grasim combine will invest around Rs 7,000 crore to set up three greenfield facilities which are likely to come up in the states of Chattisgarh, Andhra Pradesh and Tamil Nadu in the next three-four years.
In a surprise development, the Australian coking coal producer Rocklands Richfield on Wednesday abruptly ended the buyout talks with Jindal Steel even though the Indian firm had matched the price offered by a rival Chinese bidder earlier.
The long delay in the rolling out of TCS' passport project seems to finally getting over. According to a report in a business daily, TCS' Passport Seva Project, which aims to issue passports in flat three days, is all set to be launched in a week or two.
GMR Infrastructure, is planning to refinance $750 million (Rs 3,500 crore) of debt, it took to acquire 50 per cent stake in Intergen NV, say reports.
Hemendra Kothari, the owner of financial services company DSP, has purchased Gujarat Ambuja’s 12% stake in ING Vysya Life Insurance Company. The purchase is not a strategic one and is an investment by Mr Kothari in his personal capacity.
ADVERTISEMENT
Mounteverest Trading & Investment has announced has decided to allot three equity shares as bonus shares for every one equity share held by the shareholders on the record date.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
