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Stocks To Watch: Reliance Industries, ABG Shipyard, Delta Corp And More
SGX Nifty indicates a positive start to Indian equities.
17 Jan 2017, 08:15 AM IST
The Nifty futures on the Singapore Stock Exchange, an early indicator of Nifty’s performance in India, gained 0.1 percent to 8,442.
Your Tuesday morning briefing.https://t.co/NME4WOozAn pic.twitter.com/I6IeCPpzi0
— BloombergQuint (@BloombergQuint) January 17, 2017
Here are the stocks to watch out for in today’s session:
Reliance Industries
- December-quarter profit up 4.1 percent, beats analysts’ estimates
- Gross refining margins stood at $10.8 per barrel versus $10.1 per barrel in the previous quarter
RIL takes $6-billion writedown on oil & gas assets under new accounting standards, reports @sajeetkm. https://t.co/gaYzpthhKi pic.twitter.com/PZtiqWRXQR
— BloombergQuint (@BloombergQuint) January 17, 2017
Tata Global Beverages
- Company to divest its stake in its joint venture, Zhejiang Tata Tea Extraction
- Deal for an estimated enterprise value of Rs 33 crore
Hindustan Zinc
- Posts 44 percent jump sequentially in mined metal production for December quarter
- Company gets environment clearance for expansion of Sindesar Khurd mines and Zawar mines
Titan
- Tata Group firm to discontinue its jewelery brand 'Gold Plus'
- 'Gold Plus' to be merged with its flagship offering Tanishq
Pokarna
- Unit Pokarna Engineered Stone Ltd (PESL) gets exclusive right to use bretonstone technology in India till March 2020
- PESL plans to expand quartz surface production capacity by 130 percent with an investment of Rs 325 crore
- Delta Corp: The gaming firm gets licence for operating a casino in Gangtok, Sikkim.
- Suzlon Energy: Company gets 10,000 megawatt installed wind energy milestone in India.
- Eastern Treads: The maker and supplier of treads gets an order from Karnataka State Road Transport Corp and Rajasthan State Road Transport Corp for supply of tyre re-treading materials.
- Raminfo: Company signs memorandum of understanding with eGram Society of Gujarat state for delivery of B2C services.
- Duke Offshore: Company gets a contract for its high speed crew boat Duke Command.
- Ester Industries: Company plans to setup a research and development and innovation facility at Gurgaon at an approximate cost of Rs 50 crore.
- Tata Consultancy Services: Software maker partners with Aurus to enhance omnichannel payment solutions with OmniStore.
- TeamLease Services: Company to buy Keystone Business Solutions for Rs 8.2 crore.
- Jay Bharat Maruti: Company posts a 29 percent rise in December-quarter net profit. Board approves issue of non-convertible debentures for up to Rs 150 crore.
- Cosmo Films: Company’s unit CF Global Holding Mauritius has ceased its activities and filed an application for winding up.
- Jagran Prakashan: Says unit starts Jamshedpur radio broadcast.
- Shriram EPC: Company to consider issue of shares to corporate debt restructuring lenders, another private company on January 19.
- Crompton Greaves: Promoter Avantha Holdings released pledge on 4 percent of the total share capital. Total pledged holding is currently 23.56 percent of the total share capital.
- Shriram Transport Finance: Company approved issue of rupee-denominated bonds worth Rs 175 crore.
- Hindustan Petroleum Corp: Oil refiner gets shareholders’ approval for issue of NCDs worth Rs 6,000 crore.
- HCL Technologies: Company’s wholly-owned subsidiary, HCL America Inc has made some clarification against claims and allegations made by CultureSphere Inc, a California-based company.
- Infosys: Tech firm announced its internal carbon price at $10.5 per tonne of CO2e at an event in Zurich.
Media Reports
Fortis Healthcare
- Japanese drugmaker Daiichi moves Delhi High Court to block Fortis stake sale
- Fears sale would dilute assets and hamper bid to recover damages from promoters
(Economic Times)
GVK
- Billionaire Prem Watsa’s Bangalore International Airport investment plan gets government approval
- The clearance had been pending for close to a year at the aviation ministry
(Economic Times)
ABG Shipyard
- Reliance Defence & Engineering, Shapoorji Pallonji Group and Liberty House Group of U.K. have shown interest in buying debt-ridden company
- Investment banking firm Rothschild is advising the company on its sale plan
(Mint)
SpiceJet, Jet Airways, Interglobe Aviation
- Aviation Ministry seeks duty cut for jet fuel
- Government had raised the duty when crude prices fell to below $30 but prices have doubled now
(Economic Times)
- Vedanta Ltd: Parent firm Vedanta Resources Plc has approached investors to raise as much as $1 billion to refinance its debt. (Mint)
- Oil Refiners: The government ruled out reverting to the system of subsidising auto fuel. (PTI)
- Tech Mahindra: IT services company plans to hire over 100 engineers in a centre in Dublin that would focus on robotics and automation, business analytics, cloud infrastructure and digital services. (PTI)
- Coal India: State-owned firm is looking at appointing a merchant banker to assist it in acquiring assets overseas so as to enhance the nation's energy security. (PTI)
- Tata Steel: Company’s Noamundi iron ore mine becomes the first mine in the country to introduce drone technology in mine monitoring. (Economic Times)
- Reliance Industries: Company’s telecom subsidiary Jio has garnered 72.4 million subscribers within four months of commencement of services. (PTI)
- Bharat Heavy Electricals: Company commissions 500 megawatt thermal unit in West Bengal. (Financial Express)
- Muthoot Finance: Company plans to raise Rs 1,400 crore by issuing non convertible debentures (NCDs). (Financial Express)
- HDFC: Mortgage lender to raise Rs 800 crore via NCDs. (PTI)
Maintaining high margins may no longer be possible, says Asian Paintsâ at #Davos #wef17.https://t.co/s6Tz0WP4ND pic.twitter.com/7FVVEvrRZk
— BloombergQuint (@BloombergQuint) January 16, 2017
IPO Watch
- Security & Intelligence Services gets market regulator SEBI's nod for an initial public offering (IPO)
- Company to raise an estimated Rs 500 crore through IPO
Earnings Watch
- Delta Corp
- Can Fin Homes
- Havells India
- Mastek
- NIIT Technologies
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