Stocks In Action For September 20, 2012

According to Business Standard, state-run power equipment maker BHEL yesterday said that orders worth Rs 22,096 crore have been booked by the company. At the end of the year, the total orders in hand for execution in 2012-13 and beyond stand at about Rs 1,35,300 crore. The report added that the company has recorded a 26 per cent surge in net worth, which has gone up to Rs 25,373 crore from Rs 20,154 crore the year before. On the back of this news one may see volatility in the share price of BHEL in today’s trading session.

According to Business Standard, Steel Authority of India (SAIL) will spend a whopping Rs 45,000 crore during the 12^th Five Year Plan ending March 2017 on capacity addition, up from Rs 40,312 crore during the 11^th Five Year Plan. SAIL has pegged an outlay on modernisation and expansion at Rs 45,000 crore, including Rs 14,500 crore during the current year. The report also said that the state-owned steel maker is in the midst of expanding its crude steel production capacity to 21.40 mtpa from 12.84 mtpa with investments of Rs 72,000 crore. On the back of this news one may see volatility with a positive bias in the share price of SAIL in today’s trading session.

According to Economic Times, Emami yesterday said that it is aiming for nearly three-fold increase in sales of its pain relief ointment ‘Himani Fast Relief’, which has been re-launched with new formulations. The company is targeting Rs 100 crore in sales from the category in the next three years. At present the company earns Rs 35 crore from the sales of this ointment. On the back of this news one may see volatility with a positive bias in the share price of Emami in today’s trading session.

According to Economic Times, some of the private sector lenders like Axis Bank and ICICI Bank are not very keen for referring the Deccan Chronicle Holdings (DCHL) case to the Corporate Debt Restructuring Cell. DCHL, which runs newpapers like Deccan Chronicle and Financial Chronicle, has also been involved in businesses like sports and retail chain, among others. On the back of this news one may see volatility with a negative bias in the share prices of those banks that have extended loans to DCHL. It will also impact the scrip of Deccan Chronicle Holding, the group’s listed entity, in today’s trading session.

The shares of Suzlon Energy may trade today with a negative bias after the company made an announcement that the bond holders have been requested for a four-month extension of the October FCCBs to allow the company to close various financing measures and drive an alignment between all the stakeholders on the allocation of cash resources. To reiterate, the company had issued USD 200 million worth of zero coupon convertible bonds and USD 20.8 million worth of 7.5 per cent convertible bonds, both of which are due in October 2012.