Maruti Udyog, Tata Motors may see action

vengabeats

Par 100 posts (V.I.P)
Car makers Maruti Udyog and Tata Motors may see action after the two companies cut prices of small cars following a cut in excise duty on small cars in the budget to 16% from 24%. The price reductions on Maruti's five small car models ranged from Rs 12,704 on the mini 800 to Rs 25,052 on a premium Zen hatchback. It also cut prices on the Alto and Wagon R hatchbacks and the Omni van. Tata Motors is slated to cut prices of its small car Indica.

Steel scrips may see action on market talks that steel companies are slated to hike prices by Rs 2,000 per tonne with effect from 1 March 2006.

Shares of food processing companies like ITC and Nestle may move up further following cut in excise duty on some food products. Nestle will benefit from waiver of excise duty on milk products, as well as on processed/ready to eat packaged food and instant food mix. Stocks like Heritage Foods, Vadilal Enterprises and Vadilal Industries will benefit from waiver of excise duty on ice creams.

Paper scrips may see action after the excise duty on specified printing, writing and packing paper was cut to 16% to 12%.

Tata Coffee may see action after the company said its board will meet on 8 March 2006 to consider issue of securities by way of rights.

Hero Honda Motors may see action after the top motorcycle maker, said on Wednesday its bike sales in February rose 12.1% on year to 2,50,695 units

GNFC and Narmada Chematur Petrochemicals (NCPL) may see action after a merger ratio of 1 share of GNFC in exchanged for every 3 shares held in NCPL was set.

Jyoti may see action after the company said it has allotted 12,00,000 equity shares to Hindustan Construction Company (HCC) issued on preferential basis pursuant to special resolution passed by the shareholders under section 81(1A) in the extra ordinary general meeting held on February 14, 2006.
 

kartik

Kartik Raichura
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