Stock In Action For 17th July 2012

Godrej Properties (GPL) yesterday post market made an announcement that the company plans to develop a major township project in Panvel, Mumbai. The area of the land is around 110 acres and the project will have an estimated saleable area of 3.5 million sq ft. Like most of the earlier projects this project would also be a joint venture where GPL will receive 35 per cent profits from the development. The project is expected to be launched in 2013 and would probably complete six years from its launch. On the back of this news one may see volatility with a positive bias in GPL shares price in today’s trade.     

According to business standard, Agro-chemicals producer United Phosphorus Ltd (UPL) has bought out Dutch pesticides maker Agrichem from a unit of Punjab Chemicals and Crop Protection. UPL, however, did not disclose financial details of the acquisition. On the back of this news one may see volatility in the share price of UPL in today’s trading session.

According to business standard, Tata Steel has agreed to sell its 50 percent stake in Dutch recycler HKS Scrap Metals Co to a unit of Germany's TSR for an undisclosed amount. The transaction is in line with Tata Steel's strategy to focus on core activities, the company said in a statement. The TSR unit already owns 50 percent stake in the Dutch company. HKS generates annual sales of 400 million Euros. The stock yesterday was among the leading Index loser closed down almost 4 per cent, and we believe the stock may remain under pressure in today’s trade also.

Tata Communication yesterday post market made an announcement on the exchange that company’s Video Connect network has now been extended to Nigeria via Main One. Nigeria point of presence connects key media spot in Africa with the world. On the back of this news one may see volatility with a positive bias in the Tata Comm share price in today’s trading session.

According to media reports, BOC India plans to invest Rs 540 crore to construct two new air separation plants, each with a capacity of 1,200 tonne per day to supply gaseous oxygen, nitrogen and argon to meet production requirements of Tata Steel's new steel works. On the back of this news one may see volatility with a positive bias in BOC India share price in today’s trading session.

According to economic times, Gujarat Pipavav Port today said it has raised Rs 350 crore through a mix of qualified institutional placement (QIP) and preferential issue of shares. The infusion will be used for repayment of the existing loans which will enable it to tie up funds for its Rs 1,097- crore expansion, the company said in a statement. The company raised Rs 199.48 crore through QIP of 3.41 crore shares to a clutch of investors such as Bajaj Life Insurance, SBI Life Insurance, Franklin Templeton, Kotak Mahindra etc. On the back of this news one may see volatility in the share price of Gujarat Pipavav Port in today’s trading session.  

According to economic times, NALCO has joined the fray along with a clutch of Japanese firms to operate a 2.25 lakh tonne smelter unit in Indonesia. For NALCO which is investing in a thermal power plant and a smelter in South Asian country, the latest development is a part of a strategic move to intergrate its business plan in the country. On the back of this news one may see volatility with a positive bias in the share price of NALCO in today’s trading session.

One could also watch out for stocks like Axis Bank, Bajaj Finserv, Jindal Hotels, Automotive Stamp, GIC Housing, etc which are going to announce their Jun 2012 quarter numbers. One could see some volatility in the prices of these shares in today’s trade.