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Stock Update/Tips

ECONOMY : Govt indicates that it prefers RBI to refrain fm hiking key policy
rates at this juncture, despite rising inflation.. Govt also pitches for
continuing with fiscal stimuli for atleast two more quarters, indicating the
forthcoming Budget is unlikely to reverse the cuts in excise duty/service tax

RIL : SEBI to consider appropriate action against co for allegedly routing
funds to dummy cos for buying large quantity of its own shares in 2000

HDFC : plans to disburse Rs30bn over the next two months under its spl.loan
scheme launched early this month

REAL ESTATE : HDFC V.Chmn says home loan interest rates are unlikely to move
up even if RBI hikes the cash reserve ratio as there is ample liquidity

L&T : President (Operations) cos sales wud grow at 14-15% in FY10 & op.margin
wud increase to 14% by Mar 10

NTPC : proposes to build a power project in Ghana in retrn for liquified
natural gas

AXIS BANK : puts overseas bond issue on hold as it waits for spreads to
narrow before it raises funds

DR REDDY’s : plans to launch generic version of Lipitor which has annual
sales of >$12bnin US mkts in next 2-3 yrs

BHARATI SHIPYARD : to consider another open offer for 20% more @ Rs 590/share
to acquire mgt control of Great Offshore

WELSPUN GRP: merging 3 promoter owned investment cos into Welspun investments
to unlock value and help raise funds

NIIT : has deferred its plans to raise Rs2.3bn thru QIP

INDUS IND BANK : says it has presented a roadmap to RBI on bringing down the
promoter stake to 10% over the next 2-3 years

PBA INFRA : bags order worth Rs 1.45bn from Oriental Structures Engineers

INDIABULLS FIN : ends JV with Societe Generale for Life Insurance

ONGC : declares Rs 18/shr mid yr dividend