Buzzing Stocks - Keynote Capitals (January-24-'11)

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Buzzing Stocks

·      Oil India and its partner Indian Oil Corp. have decided to relinquish their onshore oil blocks in Libya.

·      L&T-Alstom JV wins Chennai Metro track work project.

·      ONGC forces Cairn India to cap oil production from its giant Rajasthan oilfields, which can produce 20% more immediately.

·      Natco Pharma plans to seek compulsory licence from the government to make and sell a low-cost version of Bayer’s patented liver and kidney cancer drug Nexavar in India.

·      Thermax bags the contract for setting up the country’s first geothermal power plant in Maharashtra.

·      Maruti Suzuki has increased prices by up to Rs8,000, except for its newly-launched compact car Alto K10.

·      Jupiter Biosciences is in advanced discussions to buy privately-held Swiss pharma company Synpha Base for about US$10mn.

·      Nalco plans to foray into making titanium and its allied products and has formed a joint venture with Indian Rare Earths.

·      Gayatri Projects plans to place 10-15% in wholly owned power subsidiary Gayatri Energy Ventures with PE firms to raise about Rs4bn