Buzzing Stocks - Keynote Capitals (February-25-'11)

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Buzzing Stocks

·      Tata Steel UK signed a definitive sale agreement to sell certain assets of TCP to Sahaviriya Steel Industries UK, a subsidiary of Thailand’s largest steel producer, for US$469mn.

·      RIL and BP will shortly float a joint venture company over next months, which will look at the trading and marketing of natural gas in India.

·      RPower joins US$3.5bn race to buy out Australian coal mining company Whitehaven Coal.

·      RPower appears to be in the lead for the 3,000-MW long-term power purchase agreement called for by the Uttar Pradesh Power Corporation.

·      NMDC is setting up a 300,000-tonne plant in Karnataka for making iron ore concentrate from iron ore waste with an investment of `1.5bn.

·      Shipping Corporation of India is planning to invest US$1bn every year to acquire new ships.

·      BEML may hive off one or two businesses, possibly rail and metro, in a corporate restructure it plans to roll out in fiscal 2012-13.

·      Gammon India’s subsidiary Metropolitan Infrahousing has stepped in to buy the balance 45 acres owned by PAL-Peugeot in Dombivli on the outskirts of the city.