India Morning Note - Keynote Capitals (March 8, 2011) Buzzing Stock

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Buzzing Stocks

·      GAIL has been told to reduce it by 6%, instead of getting the 53% rise in rates it had sought for supply along the 581 km Dahej-Uran/Dabhol-Panvel pipeline.

·      United Phosphorus to acquire a 50% stake in Sipcam Isagro Brazil for an undisclosed amount.

·      Hotel Leela Venture will offer 14.95% its equity to "prospective investors" by issue of fresh shares to help cut debt and lower interest costs.

·      Tata Steel signed a binding agreement with Canadian iron ore miner New Millennium Capital Corp to develop the taconite iron ore deposit in Canada.

·      UTV Software is likely to sell its stake in online gaming company India games for around `2.2-2.4bn.

·      BHEL has bagged an order worth `14.4bn for a 600 MW thermal power project in Andhra Pradesh.

·      The government will infuse `17.4bn in Oriental Bank of Commerce as recapitalisation package to shore up the bank's equity capital.

·      JSW Steel has reported an 8% yoy growth in crude steel production in February ’11 at 0.54mn tons.