Stocks In Action For September 21, 2012

Essar Ports yesterday post market made an announcement on the BSE that the company is re-financing its Rs 405 crore debt through India Infrastructure Finance Company. Further, the company said that it will take a step forward in cutting debt costs. On the back of this news one may see volatility in the share price of Essar Ports in today’s trading session.

Mahindra & Mahindra Financial Services (MMFS) has approved a proposal for partial stake sale of 12.37 per cent in its wholly-owned subsidiary Mahindra Insurance Brokers Limited to Inclusion Resources Private Limited, a subsidiary company of Leapfrog Financial Inclusion Fund, incorporated in Singapore, for an amount aggregating Rs. 64.33 crores. On the back of this news one may see volatility in the share price of MMFS in today’s trading session.

According to media reports, Mahindra & Mahindra (M&M) on Thursday drove in the long awaited Quanto, the smallest sports utility vehicle (SUV) in its portfolio. The Quanto has been priced in the range of Rs 5.82 to 7.36 lakh ex showroom Thane, and the company hopes its SUV stance, features, yet being compact, will lure buyers to migrate from hatchbacks and entry level sedans. On the back of this news one may see volatility in the share price of M&M in today’s trading session.  

According to Business Standard, the coal ministry has decided to act on the recommendation of IMG and has deallocated the Gouringdih coal block in West Bengal that was allotted to JSW Steel and Eastern Minerals and Trading Agency (EMTA). This has cast shadows on the 10 million tonne steel plant JSW Steel is building in Salboni district of the state. According to the reports, a senior official of JSW Steel said the plant construction is unlikely to begin if the raw material is unavailable. The plant construction was supposed to start from October 2012. On the back of this news one may see volatility with a negative bias in the share price of JSW Steel in today’s trading session.

According to Business Standard, the government has initiated the process for sale of further 9.5 per cent in state-run power generation major NTPC to meet its disinvestment target of Rs 30,000 crore in the current fiscal. The Department of Disinvestment has proposed stake sale of NTPC. The government would soon clear sale of about 78.33 crore shares, resulting in 9.50 per cent stake dilution in the NTPC. On the back of this news one may see volatility with a positive bias in the share price of NTPC in today’s trading session.

According to Economic Times, The Competition Commission has found evidence of cartelization in the country's tyre manufacturing industry and is expected to issue an order soon. On the back of this news one may see volatility with a negative bias in the share of tyre manufacturing companies like MRF, Apollo Tyre, Ceat, etc in today’s trading session.