Buzzing Stocks - Keynote Capitals (March-3-'11)

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Buzzing Stocks

·      Cairn India and its JV partners are set to undertake $44mn drilling campaign in the eastern offshore Ravva Field of K-G Basin.

·      BHEL bags `32.2bn order for thermal power in west Bengal.

·      Tata Steel has increased its stake in Riversdale Mining to 27.14 % from 24.2 % at an investment of around `5bn.

·      Reliance Power has raised around `40bn of debt from public sector infrastructure financing company Power Finance Corporation to achieve financial closure of two ultra mega power projects.

·      HDFC has increased its retail prime lending rate (RPLR) by 25 bps to 15.5%, with effect from March 1.

·      IOC raised jet fuel price by 3.4%.ATF rates in Delhi have been hiked by `1,870 per kilolitre to `54,933 per kl.

·      SBI’s `200bn right issue will likely to come in early next fiscal year

·      Hotel Leelaventure plans to cut its debt by raising around `9.5bn over the next 2 years via sale of a property and also by foraying into real estate development.

·      Bosch plans to invest more than `13bn over 3 years and expected its capex to touch the `4bn mark by 2011-end.