Stocks to watch: Great Eastern Shipping, GMR Infra, Tata Motors, Tata Steel, Fortis, Petronet LNG, Kinetic Engineering
Crude oil prices moved higher in Asian trade Tuesday. New York's main contract, light sweet crude for delivery in September advanced to $70.85 per barrel.
By ET Bureau |
MUMBAI: Crude oil prices moved higher in Asian trade Tuesday. New York's main contract, light sweet crude for delivery in September advanced to $70.85 per barrel. London's Brent North Sea crude for delivery in September was up at $73.65.
The Indian rupee slipped as the dollar rose against other currencies. At 9:19 a.m., the partially convertible rupee was at 48.00 per dollar against previous close of 47.82.
Shares of Great Eastern Shipping may see an upside on its plans to raise nearly Rs 700 crore by selling up to 25 per cent in its offshore services subsidiary Greatship to part-finance expansion plans.
The government will mop up about Rs 10,000 crore through special dividends from some of its cash-rich companies, such as Bharat Sanchar Nigam and Coal India, ahead of their public issues and listed NMDC and MMTC.
Infrastructure giant GMR group is considering listing its global holding company on the London Stock Exchange as a step towards building a $10 billion global assets portfolio. The group is consolidating its global assets under GMR Infrastructure International for the listing. Shares of its Indian-listed entities GMR infrastructure and GMR Industries will see some action on the news.
Tata Steel, which recently announced a five-year, Rs 40,000-crore capex programme, plans to raise up to Rs 5,000 crore through the issue of securities and is seeking shareholder approval for the fund raising. The country���s largest and the world���s sixth-biggest steel firm raised $500 million (about Rs 2,390 crore) via a GDR issue last month.
Fortis Healthcare has fixed the price of its Rs 997 crore rights issue at Rs 110 per share with a 2:5 ratio. This means existing shareholders can buy two shares for every five shares held.
Riding high on domestic demand, Ahmedabad-based Electrotherm is considering investing close to Rs 220 crore in capacity expansion in steel, engineering and e-bikes businesses. With a target of Rs 2,400-crore turnover by this fiscal-end from the current turnover of Rs 1,600 crore, the company has submitted an ambitious plan to its bankers. The fund will be raised either through the QIP route or a mix of equity and preferential issue.
Kinetic Engineering has bagged order worth Rs 20 crore for Nano project and an additional order worth Rs 40 crore from Europe. The company is selling some of its non-core assets in Pune for Rs 44 crore.
IDBI Bank plans to securitise about Rs 1000 crore of its infrastructure loan portfolio to release resources and capital.
The Indian rupee slipped as the dollar rose against other currencies. At 9:19 a.m., the partially convertible rupee was at 48.00 per dollar against previous close of 47.82.
Shares of Great Eastern Shipping may see an upside on its plans to raise nearly Rs 700 crore by selling up to 25 per cent in its offshore services subsidiary Greatship to part-finance expansion plans.
The government will mop up about Rs 10,000 crore through special dividends from some of its cash-rich companies, such as Bharat Sanchar Nigam and Coal India, ahead of their public issues and listed NMDC and MMTC.
Infrastructure giant GMR group is considering listing its global holding company on the London Stock Exchange as a step towards building a $10 billion global assets portfolio. The group is consolidating its global assets under GMR Infrastructure International for the listing. Shares of its Indian-listed entities GMR infrastructure and GMR Industries will see some action on the news.
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Tata Motors-owned Jaguar Land Rover has secured financing facility of up to 75 million pound sterling from Burdale Financial Ltd, a member of the Bank of Ireland Group. The package consists of a three-year facility to finance Land Rovers' parts and accessories' inventories and receivables in the UK and the US. Shares of the automobile major may move higher.Tata Steel, which recently announced a five-year, Rs 40,000-crore capex programme, plans to raise up to Rs 5,000 crore through the issue of securities and is seeking shareholder approval for the fund raising. The country���s largest and the world���s sixth-biggest steel firm raised $500 million (about Rs 2,390 crore) via a GDR issue last month.
Fortis Healthcare has fixed the price of its Rs 997 crore rights issue at Rs 110 per share with a 2:5 ratio. This means existing shareholders can buy two shares for every five shares held.
Riding high on domestic demand, Ahmedabad-based Electrotherm is considering investing close to Rs 220 crore in capacity expansion in steel, engineering and e-bikes businesses. With a target of Rs 2,400-crore turnover by this fiscal-end from the current turnover of Rs 1,600 crore, the company has submitted an ambitious plan to its bankers. The fund will be raised either through the QIP route or a mix of equity and preferential issue.
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After years of negotiation, Petronet LNG on Monday signed a multi-billion dollar agreement with ExxonMobil to source 1.5 million tonnes per year of gas for 20 years from a field the US major's Australian subsidiary is developing in partnership with Chevron. Kinetic Engineering has bagged order worth Rs 20 crore for Nano project and an additional order worth Rs 40 crore from Europe. The company is selling some of its non-core assets in Pune for Rs 44 crore.
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BOC India has signed a long term contract with Jindal Stainless for installation of an Air Separation Unit on a hire basis at their steel works at Kalinganagar Industrial Complex, Duburi, Jaipur in Orissa and for operation and maintenance of the said plant.IDBI Bank plans to securitise about Rs 1000 crore of its infrastructure loan portfolio to release resources and capital.
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