Friday, the following stocks are in the spotlight in the Indian market due to stock or sector-specific news or reports. Stock prices are taken from the BSE, unless stated otherwise.
Larsen & Toubro (Rs,1,411, down 2.36%) - The engineering and construction giant and the Franco-German aerospace and defence group, EADS, plan to revive a joint venture which was earlier rejected by the government.
Bharti Airtel (Rs.296.85, down 2.26%), Reliance Communication (Rs.162.50, down 1.46%), Idea Cellular (Rs.57.40, down 2.21%) -Vodafone group said that revenues from Indian venture, in which Essar owns a 33% stake, grew by 13.8% to 767 million pounds in the third quarter ended December.
Criticizing the recommendations of an expert panel for a fuel price hike, UPA allies Trinamool Congress and DMK parties as well as the opposition parties such as the BJP, CPI(M), CPI and Akali Dal have pledged to fight against a fresh increase in the prices of petroleum products. BPCL is moving down 0.52%, HPCL is declining 0.98%, IOC is losing 1.12% and ONGC is down 3.04%.
ICICI Bank (Rs.798.40, down 3.73%) - The private sector lender sees no upside pressure on interest rates immediately.
SAIL (Rs.205.50, down 3.34%) - Steel prices remain stable now but may increase in the near-term if raw material costs increase significantly, SK Roongta, chairman of the state-run firm said.
Jet Airways (Rs.479.50, down 1.78%) - Sahara Group chief Subrata Roy on Thursday said his company is open to all options to settle the dispute with Jet Airways over non-payment of installments in the Air Sahara buyout deal.
Twilight Litaka Pharma (Rs.84.75, down 4.50%) - The company has convened an extraordinary general meeting on March 2 to transact business in connection with raising of long-term funds to the extent of Rs.168 crore by issuing various securities.
Mahindra & Mahindra (Rs.1,004, down 1.22%) - The utility vehicle maker is holding talks with global players to develop premium bikes for the Indian market.
Sun Pharma (Rs.1,480, down 0.95%) - The Israeli Supreme Court has barred the Indian drugmaker from exercising a warrant to buy additional Taro shares till the court comes out with a final judgement.
Essar Oil (Rs.135.20, down 2.70%) - The private fuel retailer is still in talks with Royal Dutch Shell Plc on buying three refineries in Europe.
Wockhardt (Rs.162.55, down 2.31%) -The Bombay High Court on Thursday asked the the Indian drugmaker to deposit the proceeds from a proposed sale of the nutrition business in an escrow account, if the court allows its deal with U.S. drug firm Abbott Laboratories Inc to go through.
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