Stocks In Action For August 24, 2012

According to media reports, Network18 Group announced that it has entered into an agreement to dilute its majority stake in India’s premier entertainment ticketing website - Bookmyshow.com. Network18 was the majority shareholder in Bigtree Entertainment Private Limited, the holding company of the entertainment ticketing website BookMyShow.com, holding a 60% stake. On the back of this news one may see volatility in the share price of Network 18 in today’s trade.

According to business standard, GVK Power and Infrastructure won environmental approval for it’s A$10 billion Alpha coal and rail project in Australia's Queensland state on Thursday, with 19 conditions to protect the environment. The approval came as Australia declared the end of the resources boom that cushioned the country from the global financial crisis, a day after the world's biggest miner, BHP Billiton shelved two major expansion plans worth at least $40 billion. On the back of this news one may see volatility with a positive bias in the share of GVK power in today’s trading session.

According to business standard, Shree Cement posted a six-fold jump in net profit at Rs 352 crore for the fourth quarter ended June 30, 2012 on back of higher realisation. The company had a net profit of Rs 55 crore in previous year quarter. The total income increased 44% to Rs 1,487 crore as against Rs 1,034 crore in June 2011. Meanwhile, the board had recommended final dividend of Rs 8 per share or 80% for the fifteen months period ended June 30, 2012. On the back of this news one may see volatility with a positive bias in the share of Shree Cement in today’s trade.

According to media reports, Tata Motors is reportedly working on three new products with an emphasis on a car which will bridge the gap between the Nano and Indica. As per the reports the company will be launching these three new cars within the next nine months. This move from Tata may be to ease off the tremendous pressure on sales that its cars had to bear in the recent past with on-slaught from other manufacturers and to bring in variety into the car market. On the back of this news one may see volatility with a positive bias in the share of Tata Motors in today’s trade.

According to economic times, The Power Ministry wants Coal India to import coal only for the public sector power generation companies such as NTPC and state utilities. The ministry, in consultation with the Central Electricity Authority (CEA) has prepared a list of power plants for which Coal India Ltd (CIL) should import fuel during the current and the next financial year. On the back of this news one may see volatility in the share price of Coal India in today’s trade.

According to business line, Drug maker Glenmark came in for some good news on its dispute with Napo Pharmaceuticals Inc regarding the commercialisation of anti-diarrheal compound Crofelemer. Further in the arbitration claim filed about a year ago, the International Centre for Dispute Resolution (ICDR) has ruled in favour of Glenmark Pharmaceuticals. The stock yesterday closed higher 1.72 per cent to Rs 412.15, and today also one might the stock to continue its trend.

According to media reports, Jindal Steel and Power has picked up additional 2.67 per cent stake in GNCCL - Gujarat NRE Coal's Australian subsidiary - for about Rs 43.44 crore, taking its holding to 12.74 per cent. In May, the Naveen Jindal-led firm had acquired 10.07 per cent stake in Gujarat NRE Coking Coal Ltd (GNCCL), for about about Rs 135 crore. On the back of this news one may volatility in the share price of Jindal Steel and Power in today’s trade.