Automobile and cement stocks will be in focus as companies from these two sectors will announce monthly sales data for December 2011.
Mahindra & Mahindra is reportedly interested in buying at least part of bankrupt Swedish carmaker Saab Automobile. Saab was declared bankrupt by a court in early December 2011, ending a nine-month battle by its Dutch owner Swedish Automobile to stay afloat. It has not made any vehicles since April and several rescues have failed.
Aviation stocks may edge higher after state-owned oil companies have cut jet fuel price by over 1% in step with softening in the commodity's international rates. The price cut was effective from midnight Saturday.
Coal India's board of directors in its meeting held on 30 December 2011, approved switching over of non-coking coal pricing from useful heat value (UHV) based grading system to gross caloric value (GCV) based classification with effect from 1 January 2012. It is difficult to assess the exact impact as it will be based on the calorie value, Coal India said.
Pantaloon Retail (India) said that with reference to the outstanding 1 crore warrants allotted to a promoter group entity on preferential basis, the promoter group entity has informed the company that it has not exercised the option to convert the same into equity before the final due date on 28 December 2011. Accordingly the application money, amounting to Rs 100 crore being the initial 25% of the warrant price received by the company, has been forfeited and transferred to reserves.
US pharma giant Eli Lilly may reportedly call off its plans to jointly discover a drug with Zydus Cadila for cardiovascular diseases as differences emerge over strategy, and rising costs of research force a reconsideration of ambitious projects.
Asian Paints said due to the severe cyclonic storm 'Thane' in Tamil Nadu, some equipment and materials at the Company's Penterythritol Plant, Cuddalore, Tamil Nadu have been damaged. The damage is being assessed by the company and the operations at the Cuddalore Plant have been temporarily suspended. All equipment and materials have been fully insured by the company and the above will have no impact on the manufacturing of paints by the company.
Bayer CropScience, the owner of certain parcels of land admeasuring approximately 100 acres at Kolshet Road, Balkum Village, Thane received a further amount of Rs 265 crore as an advance payment pursuant to the exclusive arrangement entered into on 31 March 2011, with Agile Real Estate for the proposed sale.
PTC India is reportedly in talks with a sovereign wealth fund for setting up a private equity fund, which is likely to have an initial capital of about $100 million.