- Tata Steel: Citi has upgraded the steel maker to "buy" from "neutral" with a target price of Rs 430. The investment bank cited attractive valuation, which at 1.1-times P/BV is at five-year low. Citi expects Tata Steel's European operation to hit bottom in the second quarter of FY13.
- JP Power Ventures: JP Morgan has upgraded the stock to "overweight" with a target of Rs 40 citing 20 per cent correction in the stock price. The risk of cancellation of coal block is low, it added.
- ONGC: ONGC Videsh Limited has bought Hess Corp's stake in ACG (Azeri, Chirag and Guneshli) fields in Azerbaijan for $1 billion. Stock might see some minor gains though the subsidy overhang continues.
- Pantaloon: Aditya Birla group firm Peter England Fashions & Retail's board today approved the demerger of Pantaloon format business and fixed the share swap ratio at 1:5 -- meaning for every five shares of Pantaloon, the shareholders will get one Peter England share.
- NHPC: CLSA has downgraded the stock to "sell" from "underperform" with a target of Rs 18 saying capital costs of under construction projects have increased.
- Cipla: The Delhi High Court has ruled in favour of the generics drug maker saying Cipla's drug did not violate the Roche patent on its anti-lung cancer medication due to its different molecular make-up.
- Wockhardt: The drug maker has received approval from USFDA for schizophrenia medication ziprasidone hydrochloride.
- Videocon: The consumer durables major has reportedly put a Rs 850 plus crore bid for IPL team Deccan Chargers.
- India Infoline: The brokerage firm has successfully raises Rs 500 crore via NCD issue.
- Godrej Consumers: Hershey will buy the entire stake from Godrej in their joint venture.
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