Stocks
Herd on the street: Deccan Chronicle, Patni, Ramsarup Industries, sugar stocks, Nirmal Kotecha, Larsen & Toubro

Deccan Chronicle: Rumours of a stake sale are resurfacing. Mid-July, the stock charged on talk that the Gujarat-based Adani Group was going to acquire the company for $280 million-$300 million.

Patni: There is talk of a stake-sale to Fujitsu or NTT. On Friday, the stock surged after it declared an interim dividend of Rs63 per share.

Ramsarup Industries: Talk is surfacing in the market that Arcelor is now close to finalising a stake buy in the company. Ramsarup has two iron ore leases in Orissa, reportedly with reserves of 7.1 million metric tonnes and 45 million tonnes respectively. In June, the company had said it was in early talks with MNCs for growth opportunities in form of a tie-up, venture or a demerger   (Arcelor's name had come up even then).

Sugar stocks: They are said to benefit after the government raised prices of ethanol for blending with fuel to Rs27 per litre from the existing Rs21.50 per litre.

Nirmal Kotecha: Rumours are that he is accumulating shares in Su-raj Diamonds (and other diamond companies) and Networth Stock Broking.

Larsen & Toubro: There is talk of a bonus in the offing. The previous bonus was on 3 October 2008 and the one before that was on 29 September 2006 (looks like the market is expecting a bonus every two years).

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Alphageo India sets up subsidiary company in Dubai

Onshore integrated seismic service provider Alphageo (India) Ltd said it has set-up a subsidiary, Alphageo International Ltd at Dubai in the UAE.

On Monday, Alphageo India shares closed 1.8% down to Rs163 on the Bombay Stock Exchange, while the Sensex ended 0.6% down to 18,050 points.

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NIIT Technologies appoints Pratibha Advani as CFO

NIIT Technologies Ltd said it appointed Pratibha Advani as its chief financial officer (CFO). She takes over the responsibility from Amit Roy, the interim CFO, said the company in a filing to Bombay Stock Exchange.

On Monday, NIIT Technologies shares closed 0.3% up to Rs182 on the Bombay Stock Exchange, while the Sensex ended 0.6% down to 18,050 points.

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