Stocks In Action: January 25, 2013

Rallis India is planning to raise stake in Zero Waste Agro Organics up to 51% by the next financial year. During the quarter ended December 31, 2012, the Tata group had firm acquired 22.81 per cent stake in Zero Waste Agro Organics. On the back of this, upward movement can be expected in the stock prices of Rallis India today.

Jindal Steel and Power (JSPL) has bagged an order worth Rs 500 crore from Power Grid Corporation of India (PGCIL) for the supply of 80,000 tonnes of steel which will be used in setting up two transmission towers in Southern India. This order will be executed from February onwards. At the same time JSPL has chalked out an ambitious growth plan to have 20 MTPA steel making capacity by 2020. On the announcement that the company has made we expect the stock of JSPL to remain volatile for the day.

Life Insurance Corporation (LIC) has reduced its holding in Gujarat Alkalies and Chemicals limited (GACL) from 5.43% to 3.41%. It sold 1.48 million shares of GACL during the period December 6, 2012 to January 23, 2013 period. On reduction, LIC is now holding about 2.5 million shares of GACL. This is expected to weigh on the stock prices of GACL today.

Among the major result announcements today are Bharat Electricals, Maruti Suzuki, Oriental Bank, Reliance Power and Tata Coffee. These stocks will see volatility today with the directional movement dependent on the results they announce.