CONG - DMK DRAMA ENDS, MARKET TO OPEN IN THE POSITIVE

• SEBI notice to RIL on NCD  conversion - may not affect stock price.
• Hero group to buy Honda stake at Rs 3833cr, stock may react positively today.
• Jubiliant Life Sciences to set up unit in Gujurat.
• Infy to name successor by July end.
• Buy Maruti Suzuki at CMP.

MARKET WATCH

• IDBI Capital has been mandated to sell 5% of NSE stake. The Exchange is valued around Rs 20,000cr.
• Hind Copper FPO deffered again. The FPO will happen in the second quarter of FY 12.
• Fortis Global acquires 28.6% in Colombo hospital. Fortis has paid $ 36.3 million for the 350 bed hospital.
• Lanco Infra buys Australian coal forms for Rs 3400cr. These firms have an esitmated reserve of 1.2b tonnes.
• Canara Bank raises $ 350 m  under medium term note to fund credit growth in overseas business.
• RBS : Oil prices unlikely to dip in the short term. At $120 a barrel, may affect GDP of Asian countries by 2%.
• Bank of India to buy 51% in Bharati AXA Mutual Fund.
• Shriram to dilute 15% stake to TPG. TPG will be investing around Rs 1800cr in Shriram Capital Limited.