BUY AND HOLD "COX AND KINGS"
Corporate Snippets
± Ashok Leyland
has entered Tanzania with a US$36.56mn order from the Government of
Tanzania for 723 trucks, buses and special-application vehicles. (BL)
± Lanco Infratech Limited
has said that the Court of Appeal of the Supreme Court of Western
Australia has directed it to give 10 days' notice to Perdaman before
creation of security for the Griffin coal mining assets. (BL)
± Spice Jet
got its shareholders’ approval to issue additional equity shares to
promoter Kalanithi Maran, who in turn will infuse Rs1.3bn into the
airline. (BS)
± Kingfisher Airlines got guarantees worth over Rs61bn from Chairman Vijay Mallya in 2010-11 toward loan and other liabilities. (FE)
± NALCO
plans to diversify into nuclear power investing Rs114.5bn, but may move
out of Orissa for its new smelter and power project in view of
uncertainty on location. (FE)
± HCC said it has sold 14.5% stake in its step-down subsidiary HCC Concessions to Xander Group for Rs2.4bn. (FE)
± PFC
has demanded a timeline from Uttar Pradesh for improving the financial
health of its power distribution utilities if it wants more funds from
the financial institution. (FE)
