Balaji Amines may edge higher after the company said it entered into a strategic arrangement with BASF for the next two years. As per the agreement, Balaji Amines will supply the N-Methyl-2-Pyrrolidone (NMP) to BASF and its associates at a price mutually agreed from time to time for the next two years. BASF has also agreed to supply a raw material, Gama Butyrolactone, to Balaji Amines for the next two years at a mutually agreed price from time to time, the company said.

Tata Power Company may edge higher the company on Wednesday entered into an agreement with GVK Hydel Pvt. Ltd. to sell its entire stake in Alaknanda Hydro Power Company for Rs 3.12 crore. Tata Power said it was divesting the stake in this project, a 330 MW run of the river hydro project in Uttaranchal, because of its focus on mega power projects.

ICICI Bank may see action on reports that it plans to offer $1.4 billion in American Depositary Shares (ADS), according to a regulatory filing on Wednesday. The bank plans to use proceeds from the offering "to meet the capital requirements arising out of growth in out assets, primarily our loan and investment portfolio due to the growth of the Indian economy," according to the filing with the US Securities and Exchange Commission.

ICICI Bank ADR rose 2.2% on Wednesday to $ 25.67.

Color Chips (India) may edge higher after the company said it has embarked upon a major initiative to produce feature films. The company's first film project is a full-length animation feature film based on the life of Lord Krishna, and is being directed and scripted by the well-known Bapu & Mullapuri Venkata Ramana duo, the company said. The film is slated for theatrical release by June 2006. The original version would be in Hindi and it will be translated into English for international release subsequently.

The company has also started work on a couple of Hindi live action feature films and has roped in some big names in the Bollywood industry to work on these projects. The details of these projects would be announced in due course, it said.

Neyveli Lignite Corporation may move strosng after the company said it is implementing a major expansion project to raise the lignite mining capacity from the present level of 24 MTPA to 30.6 MTPA and power generating capacity from 2490 MW to 3240 MW by 2009-10. The company proposes to meet the fund requirements of the expansion projects from the internal accruals and commercial borrowings.

Tata Motors may advance on reports in a section of the media that the company is planning to enhance its presence in the overseas markets as a part of a three-pronged strategy to double the company’s sales revenue in the next five years. The company is considering setting up a commercial vehicles assembly unit in South Africa. At present, Tata Motors exports vehicles and pick-ups to South Africa from its manufacturing facilities in India and it makes buses in South Africa.

Kinetic Motor may make headway on reports that it has tied up with a business house in Pakistan to export scooters, scooterettes and motorcycles to Pakistan. The company has submitted a proposal to the Pakistan government and it is awaiting the clearance from the government.

J&K Bank may emerge stronger after it said that a recent bomb explosion near the bank's corporate headquarters in Srinagar has not disrupted the normal functioning of the bank and that all its banking infrastructure is intact.

Reliance Industries may march onward on reports that it has notified the government of a substantial gas discovery in the Krishna Godavari deepwater basin.