Keynote -Buzzing Stock- 25.3.11

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Buzzing Stocks

·      R-Power is in an advanced stage of tying up debt of Rs70bn for financing its 2,400MW gas-based power project at Samalkot in Andhra Pradesh.

·      Gail India has set a target of transmitting 118.2 million cubic metres of natural gas per day in 2011-12.

·      Usha Martin has raisedUS$125mn through external commercial borrowing to part-finance its expansion activities.

·      Shareholders of Abbott India and Solvay Pharma India have approved the merger of Solvay with Abbott in India, in line with the global integration strategy.

·      Neyveli Lignite Corporation's Rs3.12bn wind power project in Tamil Nadu will be commissioned by early next year.

·      Pipavav Shipyard is set to make an entry into the defence sector after securing approval from the Foreign Investment Promotion Board to build warships for the Indian Navy.

·      PSL will commission its second pipe mill of 75,000 million tonnes a year capacity at Sharjah in May.