Stocks In Action For August 29, 2012

The shares of HCL Infosystems surged by more than 20 per cent after a local newspaper reported that China’s Lenovo Group is in talks to buy a 50.77 percent controlling stake in the Indian company for around Rs 5 billion. The Financial Chronicle reported the talks, citing unnamed senior officials at personal computer maker Lenovo and investment bankers familiar with the development. However, the company has clarified stating that, “With reference to the news item appearing in the newspaper dated August 28, 2012 regarding Lenovo to buy out HCL Infosystems, HCL Infosystems Ltd has clarified to the BSE that the company is not aware of any such development about the promoter intending to sell stake in the company and as a company policy, do not comment on market speculation.” Therefore the scrip may see some negative movement today.

As per media reports, the founders of auto components maker Bharat Forge are in talks with private equity firms to sell a USD 300 million stake in their wind energy firm, Kenersys, two sources familiar with the matter said. The transaction would dilute part of the controlling stake of the Kalyani Group in the alternative energy firm and also enable First Reserve Corp, a U.S.-based energy-focused private equity firm, to make a partial exit from an investment it made in Kenersys in 2008. Kenersys is an integrated wind energy company that designs, assembles and markets wind turbine generators. This is positive news and we may see some upside movement in the stock today.

IT firm Mahindra Satyam has partnered with global enterprise applications company IFS for joint sales and marketing activities of IFS’ applications software suite and staff training. The agreement covers joint marketing, including sponsorship of the 2012 IFS World Conference which will be held in October in Gothenburg. “We see great opportunities in the partnership with IFS, especially given their success over the last years. IFS’ consistent performance and impressive list of world-renowned customers make them an ideal partner,” Mahindra Satyam CEO C P Gurnani said. The companies will also cooperate on certain key market opportunities and are already working together on a number of large projects.

As per Business Standard, India’s biggest utility vehicle manufacturer Mahindra & Mahindra will launch its second product in the passenger vehicle space next month when it launches the Quanto, a compact version of its successful multi-seater Xylo. Though M&M has not revealed the vehicle’s specifications, sources say that the Quanto will be equipped with seven seats and a powerful turbo-charged engine. The company may also offer a petrol engine option with it. Post the news the scrip may see some positive momentum today.

Sun Pharmaceutical Industries on Tuesday said its subsidiary Caraco has received clearance from the U.S. Food and Drugs Administration to resume operations at its manufacturing facility and packaging sites at Detroit and Wixom in Michigan, United States and start the production of two drugs. The scrip was up by 1.7 per cent yesterday and we may continue to see positive momentum in today’s trade as well.