Stocks In Action For August 21, 2012

Wockhardt yesterday made an announcement on the exchange that the company has received US FDA approval for generic version of Parkinson’s drug Comtan. The company will launch an authorized version of generic version from 30^th September 2012, with 180-days exclusivity which will further accelerate company US business growth. On the back of this news one may see volatility with positive bias, in the share price of Wockhardt in today’s trading session.

According to business standard, the government has finally decided to bite the bullet on allowing 51 per cent foreign direct investment (FDI) in multi-brand retail, albeit in a different format. The long-pending Cabinet decision is set to be notified by the second week of September, after the Parliament’s monsoon session is over, with a clear message that the execution of the decision would lie in the court of the states. On the back of this news one may see volatility with a positive bias in Retail stocks like Pantaloons Retail, Shoppers Stop, Trent etc in today’s trading session.

According to business standard, Hinduja Group's flagship company Ashok Leyland will roll out this year its much-awaited completely electronically governed Neptune engine, globally benchmarked for lower operating costs. According to the reports, the low-friction and high torque Neptune engines offer lower operating costs, longer life and better comfort. On the back of this news one may see volatility with positive bias, in the share price of Ashok Leyland in today’s trading session.

According to Business Line, after a month-long lockout at its Manesar facility, Maruti Suzuki India is ready to reopen the plant tomorrow with less than a tenth of its total workforce slated to resume operations in a single shift. Initially about 150 cars will be rolled out every day instead of 1,500-1,700 units earlier which will improve gradually. On the back of this news one may see volatility in the share price of Maruti Suzuki in today’s trading session.

According to business standard, Iron ore miner NMDC may announce a revision in the July-August contract price for the key input for steel-making at its board meeting scheduled on August 21. On increased demand and lower availability, NMDC had raised the price of the raw material by eight-10 per cent for the April-June contract price. There is a shortage of iron ore supply in the country due to ban on iron ore mining in Karnataka and closure of certain mines and curtailment of production in some mines in Orissa and Jharkhand. On the back of this news one may see volatility with a positive bias in the share price of NMDC in today’s trading session.

According to business standard, Indian Oil Corporation (IOC’s) subsidiary Chennai Petroleum Corporation Ltd (CPCL) is planning to invest around Rs 760 crore during the current fiscal. Major portion of which will go towards the company’s Rs 3000 crore resid upgradation project, which is waiting for the clearance from environment Ministry. On the back of this news one may see volatility in the share price of IOC’s in today’s trading session.