Buzzing Stocks - Keynote Capitals (January-4-'11)

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Buzzing Stocks

·        NTPC is likely to float `170bn tender for sourcing super-critical equipment for its upcoming projects.

·        Tata Power has terminated agreement to raise US$300mn through selling 14-15% stake in its two coal SPVs to the private equity firm Olympus Capital Holdings Asia.

·        Larsen & Toubro has bagged `11bn order from various power plant developers, including Maithon Power, Nebha Power, Balco and Sterlite Energy.

·        GAIL has entered into an agreement with ONGC, under which it will exclusively purchase and market the natural gas produced from the latter’s various fields during the next three years.

·        HDFC Bank has raised interest rates on retail term deposits by up to 1.25% across various maturities.

·        Reliance Industries is mulling the establishment of a US$1.2bn liquefied natural gas import terminal on either the East or West Coast to meet demand at its refineries and petrochemical plants.

·        Dabur has completed the acquisition of the US based personal care firm Namaste Group for US$100mn.

·        Coal India will enter into contracts with private firms to develop underground coal gasification projects and set up at least one 50:50 joint venture to create marketing infrastructure and sell the gas.

·        KEC International has bagged three substation orders worth `9.8bn from Kazakhstan Electricity Grid Operating Company and Power Grid Corporation of India.

·        Tata Steel is in talks with New Millennium Capital to extend an existing agreement to develop iron ore mines in Canada.