Indian Share Market Trend and Outlook Today

Securities in Ban For Trade Date 30-August-2012

1 COREEDUTEC

2 MCDOWELL-N

3 MTNL

4 ONMOBILE

INDIAN SHARE MARKET NEWS TODAY :-

• The Authority for Advance Ruling has ruled that the USD 125 million-class action suit settlement done by Mahindra Satyam (formerly Satyam Computer Services Limited ) is taxable.
• SKS Microfinance has allotted 44.5 lakh shares on preferential basis to Kumaon Investment Holdings. As per the details of the acquisition, Kumaon Investment Holdings will acquire 44.5 lakh shares carrying voting rights equivalent to 4.11 per cent, SKS said.
• Fitch downgraded Tulip Telecom from junk to default status following its failure to redeem its $97 million, or Rs 533.5 crore, outstanding FCCBs.
• Debt overhang coupled with the inability to raise equity has forced Orchid Pharma to sell its Penicillin and Penem active pharma ingredient (API), including its plant in Aurangabad, to US-based Hospira for around $200 million (Rs 1200 crore).
• New Delhi India has approved a Rs 23000 crore package for spurring production of pure electric and hybrid vehicles of all types.
• Tech Mahindra  block deal - CNBC-TV18 Exclusive BT to sell 5.6-8.4% stake worth $100 m in Tech Mahindra Pricing to be Rs.775-790/sh, 5-7% discount to CMP BT has option to upsize block deal to $150m
• JPMorgan, Credit Suisse bankers to the deal Post stake sale, BT stake to be between 14.73-17.54%
• ISARC partners with Vijaya Bank  for resolution of NPA CNBC-TV18 Alert - ISARC is India SME Asset Reconstruction Company Ltd
• DLF  Promoter cuts stake, sells 34.5 lakh shares for Rs 70 Cr Alert Post transaction holding down from 1.55% to 1.34% Redington  to hive off its supply chain business into a separate entity FE ONGC Videsh in talks to buy shale gas assets in US & Canada - PTI
• Alembic Pharma  major part of the mfg ops at Halol, Vadodara restored Ricoh India  to seek shareholders nod for delisting Aarti Industries  board meets to consider demerger of the
• manufacturing business
• Gati  planning to rope in a strategic partner for its shipping division - DNA
• Jaypee Infra  loses Rs 1100 cr road infra project in UP as new govt has shelved land for development model FE
• Bain, KKR vie for 30% stake in Lanco's power projects - BS

Source Moneycontrol