Stock In Action: December 04, 2012

According to media reports, GMR Infrastructure yesterday questioned the Maldives government's decision to scrap the USD 500 million Airport contract despite a stay granted by the Singapore High Court in the presence of the island nation's legal counsel. The battle among the infra major and Maldives government continues for a while and this would result into higher volatility with a negative bias in the share price of GMR Infrastructure in today's trading session. Also, Axis Bank has a major exposure to GMR Infrastructure and particularly to this project will face some heat in today's trade.

According to Economic Times, Chennai-based TVS Motor expects to finalise a partnership with BMW for collaboration in two-wheelers before the end of the ongoing fiscal. The development is seen as TVS' move to gain technological knowledge in its bid to step up its portfolio in the high-end performance bikes segment. On the back of this news one may see volatility with a positive bias in the share price of TVS motors in today's trading session. 

According to economic times, HMT plans to invest Rs 200 crore for expanding its tractor manufacturing capacity, engine production and roll out premium watches as part of its strategy to reach Rs 3000 crore in turnover over the next five years. The company has also sought a Rs 450 crore package for debt restructuring and infusing money for capital expenditure from the Centre. Following all these developments one can expect a fair amount of volatility on this counter today.

According to Business Line, Jet Airways has reported that it has expanded its code-share arrangement with Japan’s All Nippon Airways. Code-sharing allows an airline to book its passengers on its partner carriers and provide seamless transport to multiple destinations where it has no presence. In addition to the existing code-share agreements that Jet Airways has in place, this one will place its marketing code on other All Nippon flights between Hong Kong-Tokyo and Bangkok-The stock is sure to see some volatile trading today based on what can be read above.

Business Line also reports that Steel Authority of India Ltd (SAIL) has registered a growth of 8 per cent in the manufacture of saleable steel to 9.72 lakh tonnes in November 2012 as compared to what it had done during the same period last year. During April-November 2012, SAIL produced 8.2 million tonnes of saleable steel, a growth of 2.3 per cent over the previous year. The management of the company said that the techno-economic parameters during April-November 2012 fared better, with a 2 per cent improvement in coke rate and energy consumption and 3 per cent improvement in BF productivity compared to the same period previous year. The stock is likely to see a good amount of volatility in today’s trade based on how the market takes to this piece of information.