Market Watch

Monday 23 December 2013

Stock Market News and Tips for Today





Karnataka High Court –
Admits appeal against United Spirits (USL)-Diageo Deal –
Declares sale transaction by United Breweries Holdings (UBHL) to Diageo void
Alert: Appeal was filed by creditors of UBHL –
All amounts deposited by UBHL to court to remain till wind-up done
Alert: UBHL had deposited Rs 250 crore with Karnataka HC
Alert: Creditors who appealed include BNP Paribas, IAE, ATR
Alert: Creditors who appealed include Rolls-Royce and Partners Finance

UBHL-Diageo sources say :
-To move Supreme Court against Karnataka High Court decision
-Co-operating with Karnataka High Court on procedure.

Vijay Mallya to CNBC-TV18
-Will take necessary steps to protect interests of company, Diageo

Infosys
-V Balakrishnan to resign company effective December 31
-Alert: V Balakrishnan was head of Infosys BPO and chairman of Infosys Lodestone
-Inducts UB Pravin Rao as whole-time director
-Inducts Kiran Mazumdar-Shaw as independent member of board

Infosys says
-Kris Gopalakrishnan to head BPO business on interim basis
-BG Srinivas to takeover as Lodestone chairman

Financial Technologies on Forward Markets Commission (FMC)
-order: -Order drawn up by FMC in a hasty manner
-Bombay High Court will now hear the case on January 8
-Alert: Financial Technologies moved Bombay High Court versus FMC's order on 'fit & proper'

Financial Technologies counsel says
-Financial Technologies has only 1 nominee on MCX board
-MCX Board is controlled by FMC nominees
-Principles of natural justice have been violated
SEBI issues show cause notice to Financial Technologies: Sources
-SEBI issues show cause notice post FMC order on fit & proper
-Alert: FMC pronounced Financial Technologies and 3 directors not fit & proper
-SEBI asks Financial Technologies to reply by December 26

IOC hikes petrol price by Rs 0.41/litre (excluding VAT)
-Government hikes dealers' commission on diesel by Rs 97/kL to Rs 1,186/kl with immediate effect
-Diesel price hiked by about 10 paise per litre as government raises dealers' commission
Larsen and Toubro says:
-L&T IDPL seeks FIPB nod for FDI
-Talks with global institutional investors for stake acquisition in L&T IDPL on
-Contemplating initial infusion of Rs 1,000 crore into L&T IDPL
-2nd tranche infusion to also be Rs 1,000 crore in L&T IDPL

ICICI Bank announces new scheme on home loans, cuts rate by 15 bps: Source
 -Interest rate on home loans up to Rs 75 lakh to be 10.25 percent
-Interest rate on home loans above Rs 75 lakh to be 10.50 percent
-New home loan scheme will be available till January 31

Other stocks and sectors that are in news today:
- Axis Bank to replace Jindal Steel on S&P BSE Sensex today
- Wipro signs pact with Europe's telecom operator Tele2 AB
-Tyre companies in Focus: Import duty on natural rubber hiked to Rs 30/kg from Rs 20/kg
 -Finance ministry directs bank to recover 10 percent on bad loans by fiscal end
-Commerce ministry wants to curb royalty payments to MMC parents
- GSK Pharma open offer opens on February 7, closes on February 21
- GAIL sets Jan deadline for firms to lift US LNG: FE
-DTC, GST unlikely before 2016: BS -Hospira now under US FDA lens: BS



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