Stock in news

Power Grid Ltd

    The vigilance commission is looking int allegations that state-run Pwer Grid Corporation of India has deviated from its guidelines for tender process, which has benefited Chinese power equipment makers at the expense of local companies.

Tata Motors Ltd

     Tata Motors today reported an 8:46 per cent decline in global sales to 80,151 units iin July. The company had sold 87,566 units in the same month last year

Lanco Infratech

     The company is aiming to raise Rs 20,000 crore by selling power plants with capacity of 3,000 MW, stepping up efforts to liquidate assets just days after selling an electricity generating station in Karnataka for Rs 6,000 crore.

Cipla Ltd

     Cipla Ltd, India's fourth-largest drug maker by sales, on Thusday reported first-quarter profit that was much lower than expectations. The net profit fell to Rs 295 crore from Rs 485 crores a year earlier.

IDBI Bank Ltd

IDBI Bank has started the process of declaring Kingfisher Airlines a "wilful defaulter". The airline owes the bank Rs 750 crore. IDBI is among a consortium of banks which has lent money to the beleaguered airline. Kingfisher is the country's top loan defaulter with banks having an exposure of Rs 7,000 crore

Unitech Ltd 

     CBI has registered a Preliminary Enquiry (PE) to probe int an alleged Rs 1,700 crore land deal between Tata Realty and Unitech in 2007 to purportedly fund the latter's telecom proceject.

Reliance Communications Ltd

     Telecom operator Reliance Communications plans to cut down expansion cost and hive off some assets in its bid to to reduce debt by about 37 per cent to Rs 25,500 crore in the next 12 months.

JSW Steel Ltd

     JSW Steel will acquire smaller rival Welspun Maxsteel for about Rs 1,000 crores as India's third-largest steel maker seeks to source cheaper raw material, cut porduction costs and strengthen its presence in the northern and western markets, said two people aware of developmet.

SAIL, NMDC

     Consortium members of International Coal Ventures Ltd - SAIL, RINL and NMDC - will form a special purpose vehicle to buy Rio Tinto's Mozambique coal mines as other partners NTPC and Coal India are keen on taking part in ICVL's maiden deal announced last mounth.