Stock Alerts

Reliance Industries (RIL) is reportedly in talks to acquire some manufacturing facilities from Arvind Mills, mainly in the denim segment. The report suggests the proposed acquisition is part of RIL’s increased focus on the apparel business.

Power Grid Corporation of India is reportedly in the race to acquire a 10% interest in the sole transmission company of the Philippines.

Oil and Natural Gas Corporation (ONGC) is reportedly planning an initial public offer of ONGC Petro-additions (OPaL), the special purpose vehicle formed for the Rs 13,500 crore petrochemical complex at Dahej in Gujarat.

Blackstone is reportedly considering to back out of the race for acquiring 26% stake in IFCI. This will leave seven contenders in race for the strategic stake. As per reports, the reason behind Blackstone opting out of race was that the IFCI stock had run up in the recent past.

State Bank of India (SBI) has reportedly begun its due diligence to buy a small or medium size bank in South Africa. The South African bank, Capitec has an asset of around $350 million (Rs 1,400 crore) and 280 branches is a potential target, the report added.

Promethean India, a part of the Promethean private equity group UK, has reportedly acquired 8% stake in Nitco Tiles through participatory notes (P-notes). Promethean India has applied for a foreign institutional investor (FII) licence in India and hopes to get it soon with the Securities and Exchange Board of India (Sebi) liberalising the norms.

Following companies will declare September 2007 ended results today: BHEL, HDFC, Mahindra & Mahindra, Maruti Suzuki, Sterlite, Punjab National Bank, HPCL, Indian Overseas Bank, Jet Airways, Tata Tea, ABG Shipyard, Adani Enterprises, Aegis Logistics, Akruti Nirman, Alpa Laboratories, Bank Of India, Centurion Bank Of Punjab, EID Parry, Fortis Healthcare, GMR Industries, Hanung Toys, Hinduja TMT, House Of Pearl Fashions, ICRA, Indiabulls Real Estate, Ind-Swift Laboratories, IPCA Laboratories, Jagran Prakashan, JP Hydro, Jet Airways, Kalpataru Power, Karur Vyasa Bank, Kernex Microsystems, Lanco Industries, MphasiS, MRPL, Sical Logistics, Sobha Developers, SREI Infrastructure, Sundaram Fasteners, Tata Tea, Titan Industries, Torrent Power and United Phosphorous

The board of EID Parry India will meet today, 29 October 2007 for the purpose of considering the proposal for buy back of equity shares.

The board of Blue Star will meet today to consider merger of four investment companies viz. Admo Holdings, Sunag Investments, Sunashad Investments and Mohan T Advani Finance into Blue Star.

Foreign institutional investors (FIIs) were net sellers of equity worth Rs 1237.35 crore on Friday, 26 October 2007, while domestic institutional investors bought Rs 965.96 crore of equity on that day, according to provisional data released by NSE.