STOCKS NEW TODAY - 06.09.2016

STOCKS NEW TODAY - 06.09.2016

NIFTY Fut               : BUY ZONE
BANKNIFTY FUT : BUY ZONE


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* ASHOKA BUILDCON: Subsidiary Ashoka Concessions has secured a 20.7-bln-rupee contract from the National Highways Authority of India for four/six-laning of the 76-km Kharar-Ludhiana section in Punjab.

* BHUSHAN STEEL: Has completed the capacity expansion programme of its hot strip mill at Dhenkanal in Odisha by increasing it to 5 mtpa from 4 mtpa.

 * CIPLA: Has secured the US Food and Drug Administration's approval for generic of Allegran's Enablex tablets.

* COAL INDIA: To develop solar power plants of 600 MW capacity in four states, including West Bengal and Maharashtra, under the second phase of its plan to set up a total 1,000 MW green energy plants.

* DLF: Has completed the sale of its remaining seven cinema screens to Cinepolis for 636.7 mln rupees.

* ENTERTAINMENT NETWORK (INDIA): Has launched three FM radio channels on Monday.

* HERO MOTOCORP: Has developed three motorcycles for Africa under the Dawn brand and its sales in some markets may start by March.

* HOUSING DEVELOPMENT FINANCE CORP: Has raised 10 bln rupees through issuance of a third tranche of masala bonds. The bonds have an annualised coupon of 7.5%, payable semi-annually, and will mature on Jan 9, 2020.

* INFOSYS: Has entered into an agreement to form a joint venture with Saudi Prerogative Co to provide information technology services for customers based in Saudi Arabia.

* INOX WIND: Reported a net profit of 60.4 mln rupees for Apr-Jun, down 80.4% on year, and net sales of 4.3 bln rupees, down 32.6% on year.

* JSW ENERGY: Is eyeing acquisition of coal and thermal power assets in overseas market to curb import requirements, a company official said.

* JUBILANT FOODWORKS: Net profit for Apr-Jun fell to 189.9 mln rupees from 275.6 mln rupees in the year-ago period. Net sales for the period were at 6.1 bln rupees, against 5.7 bln rupees a year ago.

* MARUTI SUZUKI INDIA: Has launched its light commercial vehicle Super Carry in West Bengal priced at 411,000 rupees, ex-showroom Kolkata.

* MOIL: Has raised prices of most manganese ore grades by 15-25% with effect from Thursday.

* MINDTREE: Has issued a profit warning that sales and operating margin in Jul-Sep will be weaker than in Apr-Jun because of challenges faced by UK subsidiary Bluefin Solutions.

* NBCC (INDIA): Has secured orders worth 6.15 bln rupees in August, as against 3.45-bln-rupee orders in July.

* ORIENTAL BANK: Has likely set 10.95% coupon on Basel-III compliant tier-I bonds, sources said.

* PATEL ENGINEERING: Has won an arbitration award of 25 bln rupees and expects monetisation of additional claims worth 50 bln rupees under arbitration in due course.

* PETRONET LNG: Reported net profit of 3.78 bln rupees in Apr-Jun, up 54.9% on year. Net sales fell to 51.09 bln rupees from 82.25 bln rupees.

* PRAJ INDUSTRIES: Plans to tie up with private equity funds and foreign lenders for setting up its green fund for producing ethanol from agri-residue.

* PVR: Said the news report on talks to sell controlling stake to China's Wanda Cinema was "erroneous, baseless and completely speculative" in nature.

 * RELIANCE CAPITAL: Plans to increase customer base to 50 mln over the next three to five years from 20 mln currently.

* RELIANCE INFRASTRUCTURE: Said the policy initiative to pay 75% of dues in litigation-locked government projects will aid the company get 75% of the 1.7 bln rupees cleared by an arbitration panel.

* STATE BANK OF INDIA: Hopes to kick-start merger of its associate banks as well as Bharatiya Mahila Bank with itself by October-end and complete the process by March.

* SUN PHARMACEUTICAL INDUSTRIES: Has signed a pact with Mitsubishi Tanabe Pharma, under which Mitsubishi Tanabe will distribute 14 brands of the company in Japan.

* TATA MOTORS: Jaguar Land Rover India sold 155 units in India in August, down 9.9% from 172 units in the corresponding period last year. Jaguar Land Rover's sales in the US jumped 46.5% to 9,329 units.

The company may have to make fresh provisions on account of the latest Supreme Court verdict on land acquisition for Nano Plant at Singur, West Bengal.

* TRIVENI TURBINES: Promoter Rati Sawhney sold 7.5 mln shares, or 2.27% stake, in the company via a bulk deal on BSE. As of Jun 30, Sawhney held 4.15% stake in the company.

* VEDANTA: To invest up to 30 bln rupees in copper operations to double
mining capacity to 800,000 tn by 2019.  

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