Stock In Action 1st October 2012

According to business standard, government-controlled panel has approved Reliance Industries' (RIL) Revised Field Development Plan for MA oilfield in the predominately gas-rich KG-D6 block that will help the firm boost gas production. As part of the revised field development plan (FDP), RIL will drill one gas well and convert two six oil wells into gas wells on the MA oilfield to raise production. On the back of this news one may see volatility with a positive bias in the shares price of RIL in today’s trading session.

According to Hindu Business lines, TAL Manufacturing Solutions, a wholly owned subsidiary of Tata Motors, is planning Rs 250-crore brown-field expansion of its manufacturing facility at Nagpur. The company has approached the Maharashtra Airport Development Company (MADC) for additional 190 acres for expansion. The new facility will come up by 2017 at an SEZ, close to the Multi-modal International Cargo Hub and Airport at Nagpur (MIHAN). Further the reports said that the FDI cap in aerospace business is 26 per cent for the foreign investors. As a result not many foreign companies are keen to invest here, which gives an opportunity for Indian players. On the back of this news one may see volatility in the share price of Tata Motors in today’s trading session.

According to economic times, State-owned iron ore miner has planned to set up a 250 MW coal-based power plant and is in talks with and SAIL for a joint venture. The power plant is proposed to feed the electricity requirements of NMDC's upcoming 3 million tonnes steel plant at Chhattisgarh's Nagarnar, which is being construction at a cost of Rs 15,525 crore. The plant, slated for commissioning by 2015-end, will mark NMDC's entry into the steel sector. On the back of this news one may see volatility in the share price of NMDC in today’s trading session.

According to Hindu Business lines, Insecticides (India) has formed a joint venture with the Japanese firm Otsuka AgriTechno Company to conduct joint research on new products. The JV partners would invest Rs 100 crore in the next three-four years on the research and development centre that is coming up at Bhiwadi (Rajasthan). The Japanese firm would hold 70 per cent in the joint venture, with the Indian firm retaining remaining 30 per cent. On the back of this news one may see volatility with a positive bias in the shares price of Insecticides in today’s trading session.

According to business standard, Steel Authority of India (SAIL) is likely to begin work soon on its Rs 35,000-crore steel-cum-fertiliser complex at Sindri in Jharkhand. According to the reports, The PSU is in the process of beginning work on its Sindri project comprising a 5.6 million tonne per annum (mtpa) steel plant, 1.5 mtpa urea plant and 1,000 MW power plant at the erstwhile Fertiliser Corporation of India complex. The project is likely to be completed within four years after construction begins. On the back of this news one may see volatility in the share price of SAIL in today’s trading session.