Stocks to watch: SBI, Suzlon Energy, Godrej Consumer, PVR, Max India, Nagarjuna Constructions, Areva T&D

MUMBAI: Oil prices moved higher in Asian trade on Tuesday. New York's main contract, light sweet crude for August delivery moved to $72.57 per barrel and Brent North Sea crude for August delivery was at $72.20.

The rupee was higher at 47.87 per dollar against its previous close of 48.10 on stronger regional stocks.

State Bank of India (SBI), the country���s largest bank, is in talks with Indonesia-based Bank Eksekutif to acquire a majority stake. Bank Eksekutif is one of the relatively smaller Indonesian banks, with a market capitalisation of $6.66 million.

Kumar Mangalam Birla-owned Essel Mining and wind energy firm Suzlon Energy are trying to settle out of court a lawsuit filed by the Birla company in the Bombay High Court seeking damages over technical problems experienced by the wind mills set up by Suzlon for the Birla company.

Home and personal products major, Godrej Consumer Products is understood to be in advanced discussions to license a couple of brands to leading retailer, Future Group. GCPL will license brands like Ganga, Banish, Evita and Godrej Tea, among others, to the Future group for a period of three to five years.

Ajay Bijli-controlled multiplex chain PVR is in talks to acquire DT Cinemas, a wholly-owned subsidiary of India���s largest real estate
player DLF Group. Talks between the two firms are at a nascent stage.The deal could be either in the form of a merger or a complete acquisition.

Areva T&D bagged an order from Hindalco for erecting 440 kilo volt substations at its plants in Singrauli (Madhya Pradesh) and Sambalpur (Orissa).

Insurance and healthcare company Max India plans to raise Rs 400 crore through the QIP route, scrapping its earlier decision to raise up to Rs 650 crorevia a rights issue. A decision to this effect is expected to be taken at the company���s board meeting scheduled to be held on Wednesday.

Nagarjuna Constructions is set to raise about Rs 550 crore through qualified institutional placement with a greenshoe option to retain Rs 5 crore in case the issue is over-subscribed.

BL Kashyap & Sons has bagged new projects worth over Rs 560 crore for construction in the first quarter of FY 2009-10, out of which Rs 124 crores is for infrastructure and PSU sector.

Results today: Hindalco, Titagarh Wagons, Indiabulls Retail, Welspun India,Gammon India, Gammon Infra, Ispat Industries, HOEC, Bharati Shipyard, Financial Tech, Fortis Healthcare, Omaxe, S Kumars, Kingfisher Airlines, Adlabs Films, Bombay Dyeing, EIH, Ess Dee Aluminium, Vishal Retail, Hikal, Kolte Patil, Radico Khaitan, KRBL, Monnet Ispat.