Stocks In Action For 18th September 2012

According to Business Standard, Hindalco Industries has achieved financial closure for its debt of Rs 9,896 crore raised for its greenfield smelter project at Lapanga in Odisha. The company has proposed aluminium production capacity of 3,59,000 tonnes backed by a captive power plant of 900 MW. The plant is expected to be among the ‘lowest cost’ producers globally. The project with a total cost of Rs 13,195 crore has a debt equity ratio of 75:25. The debt raised is approximately at the rate of around 11.25 per cent per annum. On the back of this news one may see volatility in the share price of Hindalco in today’s trading sessions.

Tribhovandas Bhimji Zaveri (TBZ) yesterday, post the market hours, announced the company’s foray into the eastern region of India with a plan to launch two new showrooms at Camac Street and Kankugachi in Kolkata on September 18, 2012. On the back of this news one may see positive bias in the share price of TBZ in today’s trading sessions.

According to media reports, the board of Coal India is expected to take up the issue of coal price pooling at a meeting tomorrow for the implementation of the modified fuel supply agreement (FSA). This may spur some volatility in the share price of Coal India in today’s trading sessions.

According to Economic Times, Reliance Power said that its 4,000 MW Sasan ultra mega power project (UMPP) in Madhya Pradesh has been connected to the national grid. The project is now ready to draw power from the grid to provide start-up power for the first 660 MW unit which is nearing completion. On the back of this news one may see volatility in the share price of Reliance Power.

According to Business Standard, Tata Motors has launched six new heavy and medium trucks. Though the recent steep diesel price hike is a matter of concern for transporters, the launch was considered significant and the share price of the company may witness some sharp movements in today’s trade.

According to media reports, Reliance Industries has sought the tripling of its KG-D6 gas price from April 1, 2014 after the current below market rate of USD 4.205 per mmbtu expires. On the back of this news one may see volatility with a positive bias in RIL’s share price in today’s trading sessions.

According to Business Standard, Wockhardt yesterday said that it has received approval from the American health regulator to market Lansoprazole, a drug used in treatment of ulcers, in the U.S. market. The company will market the drug in strengths of 15 mg and 30 mg. Therefore, there may be some positive bias in the company’s scrip in today’s trade.