Buzzing Stocks - Keynote Capitals (February-22-'11)

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Buzzing Stocks

·      Global oil major BP will buy a 30% stake in Reliance Industries’ oil and gas blocks, including the D-6 block, for US$7.2bn as part of a long-term deal that involves a total investment of US$20bn.

·      Idea Cellular may lose overlapping mobile permits in six regions and could end up paying a fine of Rs3bn if the telecom department accepts the recommendations of a top law officer of the government.

·      Punj Lloyd through its subsidiary, Punj Lloyd Infrastructure Limited, has bagged an order worth Rs7.4bn from the National Highways Authority of India (NHAI).

·      SAIL plans to put up four 3mtpa manufacturing facilities - one each in Indonesia, Mongolia, South Africa and Oman – at a cumulative investment of US$12bn.

·      Tata Steel expects to start production from a new Orissa plant by end-March 2013.

·      Unitech will develop an integrated township at Rewari in Haryana with an estimated construction cost of Rs0.6bn.

·      NMDC is in talks with Tata Steel to sign an equal joint venture for setting up a 2mtpa steel plant at Bastar in Chhattisgarh.