Reliance Industries, Hindalco Industries, GMR Infrastructure may see action

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MAY JOIN RACE FOR SHELL'S EUROPEAN REFINERIES: SOURCES
SENSEX, NIFTY UP 1% EACH FOR THE WEEK
CNX MIDCAP INDEX UP 1%, BSE SMALLCAP INDEX UP 1.6%
METAL INDEX UP 3.7%, AUTO INDEX UP 2.3%, FMCG UP 1.5%
INDEX GAINERS: SUZLON UP 9.3%, TATA STEEL UP 6.3%, SAIL UP 5.3%
RIL SPOKESPERSON TO NDTV: 'REVIEWS CANNOT ASSURE TRANSACTIONS'
RIL SPOKESPERSON: 'WE ARE REVIEWING A NUMBER OF GLOBAL OPPORTUNITIES'
ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
JSW ENERGY ALSO IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
CESC, SREI INFRA IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
GAMMON INFRA BAGS NHAI PROJECT WORTH RS.850 CRORES
NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)
PROFIT UP 55% AT RS.143.50 CR; NET SALES UP 22.5% AT RS.2234.20 (YOY)
IMPORTING SUGAR BEING REVIEWED; NEED FOR ECONOMIC PRICING OF SUGAR
IN DISCUSSIONS WITH FARMERS TO COME AT PRICE COMFORTABLE FOR BOTH SIDES
TOO EARLY TO TALK OF DENA BANK MERGER WITH ANOTHER PSU BANK: NW
KEEPS OVERNIGHT LENDING RATE UNCHANGED AT 0.1%
STILL SEE DOWNSIDE RISK FOR THE ECONOMY
AIM TO CONVERT NON USERS TO USERS WITH THE HELP OF ROAMING TARIFF CUTS
PREFER TO REMAIN AGGRESSIVE WITHOUT GETTING INTO A PRICE WAR
MURTAZA KHORAKIWALA TO NDTV: CANNOT COMMENT ON SUB JUDICE MATTER
WOCKHARDT TO PAY BACK ALL SECURED, UNSECURED LOANS IN 5 YRS AS PER CDR
DBS TOP BRASS MET HABIL KHORAKIWALA TO DISCUSS WAYS OF SETTLEMENT: SRCS
EYEING TO SETTLE PAYMENT DEFAULT CASE OUT OF COURT: SOURCES
ALERT: ROAMING CONTRIBUTES 15% OF BHARTI REVENUES
ROAMING CALLS ON OTHER NETWORKS AT 80 PAISE/MINUTE
ROAMING CALLS ON OWN NETWORK AT 60 PAISE/MIN
SWAP TO REDUCE OVERALL FINANCE CHARGES FOR THE COMPANY: CFO
COMPLETES SWAP OF $875MN FOREX CONVERTIBLE BONDS

Updated: 01/07/2009 | 12:00 AM IST

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Wednesday, July 01, 2009 (New Delhi)

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Reliance Industries reportedly said yesterday, 30 June 2009, it could not sign a gas supply agreement with former group firm Reliance Natural Resources as there was no clarity on government approval for the terms. Reliance Industries said in a court case concerning the agreement that it wanted the terms such as price, quantity and tenure to be subject to government approval.

Net profit of Hindalco Industries declined 22.04% to Rs 2230.27 crore in the year ended March 2009 as against Rs 2860.94 crore during the previous year ended March 2008. Sales declined 4.53% to Rs 18052.97 crore in the year ended March 2009 as against Rs 18909.08 crore during the previous year ended March 2008.

GMR Infrastructure will reportedly need to raise money for new projects in nine months, after it cancelled its fund-raising plan via qualified institutional placement. The company will need funds for two road projects it is working on as well as any new project it may bid for. Selling stake in subsidiaries through private equity is one such alternative, the reports added.

United Spirits has reportedly received three term sheets from private equity giants Blackstone, Kohlberg Kravis Roberts & Co and Capital International for buying a stake worth $250-$300 million in the company.

Patni Computer and Mphasis are reportedly among the potential bidders for the Indian software unit of the troubled insurance giant, AIG.

Reliance Power is reportedly in preliminary talks with five global power companies, including China Light and Power Holdings, to sell a 15% equity stake in the company.

Pantaloon Retail India has reportedly decided to end its joint ventures with Planet Retail Holdings and Blue Foods.

Mothercare, the UK-based retailer for kids and mothers-to-be, may reportedly soon end its exclusive franchise agreement with Shoppers Stop to sell products in India. The UK retailer is scouting for another local partner and is in talks with Trent, a Tata group company.

Hindustan Construction Company has closed its qualified institutional placement issue and will issue the shares at Rs 102.15 each. The issue, whish was declared closed yesterday, 30 June 2009, has raised Rs 480 crore.

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