PRE-MARKET INDIAN STOCK NEWS: Highlights include: Aditya Birla Nuvo (ABNL IS)/Bajaj Finserv (BJFIN IS)/Reliance Capital (RCAPT IS)/Max India (MAX IS) - The government has notified the companies of an increase to their insurance FDI limit to 49%
Adani Enterprises (ADE IS)
- Co.’s shareholders have approved selling stake in one of its unit. (BBG)
Aditya Birla Nuvo (ABNL IS)/Bajaj Finserv (BJFIN IS)/Reliance Capital (RCAPT IS)/Max India (MAX IS)
- The government has notified the companies of an increase to their insurance FDI limit to 49%. (BBG)
Bank of India (BOI IS)
- Report suggest the Co. is mulling deferring its USD 750mln bond-sale plan. (PTI)
Coal India (COAL IS)
- Co. has announced that it plans to invest INR 120bln in 2015-16 for capex and infrastructure development. (BBG)
DLF (DLFU IS)/Jindal Steel (JSP IS)
- The two Co.’s are to be removed from the Nifty index, effective from March 27. (BBG)
GMR Infrastructure (GMRI IS)
- Delhi International Airport has announced that it plans to sell a 26% stake in the 2 Co.’s Cargo JV for INR 286mln. (BBG)
Idea Cellular (IDEA IS)/Yes Bank (YES IS)
- The two Co.’s are to be included in Nifty Index. (BBG)
Infosys (INFO IS)
- Co. CEO Vishal Sikka says the Co. is evaluating a dozen more start-ups, all aimed not at bulking revenues or adding clients. (Economic Times)
Jet Airways (JETIN IS)
- Co. is said to be planning entry into the air cargo business. (Business Standard)
Kotak Mahindra (KMB IS)/ING Vysya Bank (VYSB IS)
- India’s antitrust regulator has approved Kotak Mahindra Bank’s record USD 2.4bln purchase of ING Vysya. (Live Mint)
Sanofi India (SANL IS)
- Q4 net INT 925mln vs. Exp. INR 661.5mln. (BBG)
Tata Motors (TTMT IS)
- Co.’s Jaguar Land Rover North America will recall more than 61,000 vehicles after finding that some passenger-side air bags may not open on impact because of faulty software. (BBG)
United Spirits (UNSP IS)
- Co. says the High Court of Karnataka, Bengaluru, has sanctioned the Scheme of Arrangement to hive off its distillery unit in Chennai to Enrica Enterprises Pvt Ltd. (Business Standard)
Broker Moves
Century Textiles (CENT IS) upgraded to buy from outperform at Batlivala & Karani
Usha Martin (USM IS) upgraded to outperform from underperform at Batlivala & Karani
23 Feb 2015 - 03:15- EquitiesGeopolitical- Source: RANsquawk
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