Buzzing Stocks - Keynote Capitals (February-28-'11)

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Buzzing Stocks

·      Reliance Industries is in talks with Japan’s Orix Corporation to acquire its 23.87% stake in IL&FS.

·      Reliance Power has emerged as the front runner among six short-listed entities for a tender floated by Uttar Pradesh Power Corporation to buy 3,000MW of power for25 years, starting 2014.

·      Future Group plans to sell stake in non-core business, plans to use funds to repay `34bn debt on Pantaloon Retail’s books.

·      Fortis may buy 25.6% more in Australian dental chain for `4.6bn.

·      Ansal API is looking at a fund infusion of about `5bn from a host of PE investors, including IL&FS Investment Managers and Red Fort Capital, for its ongoing construction work in north India.

·      ONGC has notified three discoveries one each in Cambay and Krishna Godavari on land basins and one new pool discovery in KG shallow offshore basin.

·      Reliance Power will soon enter into a power purchase agreement with the Uttar Pradesh government for 2,456MW.