Stocks in News

by khalid on 04/11/2010 · 0 comments

Bull Eye

Bull's Eye

ONGC, Oil India and GAIL India :- A consortium of Indian state-run energy firms led by ONGC is in talks to buy a 25% stake in Australia’s Advent Energy for about US$1 billion. ONGC along with Oil India and GAIL India are looking to tap the natural gas reserves of Advent through the acquisition. Advent Energy has large gas reserves including one block in the Sydney basin that has an estimated 13.2 trillion cubic feet of natural gas.
Impact on Bull : Positive

Fortis Healthcare :- The company stated that it was in talks to buy a majority stake in unlisted Care Hospitals based in Hyderabad. The acquisition would help Fortis to have a presence in south India and bridge the gap with rival and India’s largest healthcare chain Apollo Hospitals. Fortis is in discussions with a few minority investors including Rakesh Jhunjhunwala, UKbased fund Ashmore and Matrix Laboratories founder N Prasad, who jointly own about 50% in Care Hospitals and 50% stake could cost above Rs 50 crore.
Impact on Bull : Positive

Coal India :- Coal India has reported that the coal production had slipped in October by around 8.1% or 3.19 million tonnes (MT) to 36.01 MT from the targeted 39.20 MT. According to the Chairman, PS Bhattacharyya, the production of 221.68 MT during the first half of the fiscal was also short of the targeted production of 243.15 MT but marginally above last year’s actual production of 218.94 MT.
Impact on Bull : Negative

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