Keynote Capitals (June-13-'11) Buzzing Stocks

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Buzzing Stocks

·      GAIL is making a non-binding bid for acquiring 20% interest in shale gas assets owned by a US company; the deal is estimated to cost some $400-500mn.

·      Reliance Industries to buy Bharti's 74% stake in insurance venture with AXA.

·      Maruti Suzuki management has accepted the demand of the striking workers of its Manesar plant to form a separate union.

·      Aurobindo Pharma has received final approval from the US health regulator to market and manufacture Ramipril Capsules, used for treating hypertension, in the American market.

·      SREI Infrastructure Finance-backed Viom Networks is reported to have shown interest in acquiring Reliance Communications tower business, which is up for sale.

·      HPCL’s Mumbai refinery to shut half of capacity for two-month revamps.