PSU OMCs, oil exploration stocks in focus

Shares of PSU OMCs, oil exploration and auto stocks may be in focus after petrol and diesel prices were cut by Rs 2 per litre each by state-run oil marketing companies (OMCs) as international oil prices slumped to five-year low. This is the eighth straight reduction in petrol prices since August, and fourth in diesel since October.

Shares of ONGC turn ex-dividend today, 16 December 2014 for an interim dividend of Rs 5 per share for the year ending 31 March 2015.

Shares of banking and infrastructure companies may be in focus after the Reserve Bank of India (RBI) eased rules for long-term loans by banks to the infrastructure sector and heavy industry, allowing for easier refinancing and more flexible restructuring.

Maruti Suzuki India's executive director R.S. Kalsi reportedly said on Monday, 15 December 2014, company plans to raise prices of its cars by 2 to 4% from January 2015 due to an increase in input costs.

Tata Steel will be in focus on reports that the Jharkhand High Court has ordered the state government to allow the steel major to resume operations at its mines in Jharkhand.

IDBI Bank after market hours on Monday, 15 December 2014, said that the bank will begin the process of inviting bids through advertisement route for sale of its equity holding in National Stock Exchange (NSE), not aggregating 5% of the equity share capital of NSE, to potential investors.

Biocon after trading hours yesterday, 15 December 2014, said that the company was allotted land at Visakhapatnam in Andhra Pradesh in 2007 and that the company is yet to set up manufacturing facility there. Biocon said that the company will intimate to the exchanges with appropriate details in future when a firm plan to set up a Bio-manufacturing facility is taken by the company. Biocon issued the clarification after a news agency said that the company is contemplating setting up a manufacturing facility in Visakhapatnam.

Motherson Sumi Systems said that Samvardhana Motherson Automotive Systems Group B.V., Netherlands (SMRP BV), the company's subsidiary and joint venture with Samvardhana Motherson International has signed an agreement for purchase of assets of Scherer & Trier group (S&T), Germany euro 36 million from its administrator through its step down subsidiaries. S&T develops, manufactures extrusion profiles and other components.

Ramky Infrastructure said that the Joint Lenders Forum (JLF) of consortium banks in order to arrive at an early and feasible solution and preserve the economic value of the underlying assets as well as the lenders' loans has advised the Company for restructuring under JLF as the Corrective Action Plan (CAP). The company has submitted CAP to State Bank of India, the lead member of the consortium banks. The JLF will finalize the restructuring package.

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