Stocks Radar: Welspun India, Oberoi Realty, Fortis Healthcare and More

Indian shares fluctuate between gains and losses, reflecting the mixed trading in Asian markets as hawkish comments from a Federal Reserve official boosted the likelihood of a U.S. interest-rate increase this year.

Here are the stocks in focus for the day:

Welspun: Phony Cotton?

Shares of Welspun India tanked as much as 20.3 percent to Rs 82 after Target Corp decided to severe all business ties with the textile manufacturer, alleging that it was sending phony Egyptian cotton sheets. Target Corp was Welspun's second largest customer, according to Bloomberg's data.

Welspun India has now appointed an external auditor to look into the matter.

Fortis: Approves De-Merger

Shares of Fortis Healthcare grew 3.5 percent to Rs 194 after the company's board approved the de-merger of its diagnostics business into a separate listed company through a “composite scheme of arrangement”, on August 19.

Coal India: Slumps on Strike

The world's largest coal producer slumped as much as 1.3 percent to Rs 330 after the company notified a nation-wide strike on September 2, for a list of demands including minimum wage of Rs 18,000 per month, price control and enforcement of labour laws.

Power Grid Corporation: Investment Plans

Shares of the government-owned electric utilities company rose as much as 1 percent to Rs 182 after the company announced investments amounting to more than Rs 700 crore.

Here is the list of investments approved by the company on August 19.

• STATCOM at Nalagarh & Lucknow in Northern region at an estimated cost of Rs 431.89 crore. The project will commence within the upcoming 30 months.
  
• Series Reactor in Northern region for an estimated cost of Rs 177.52 crore. The project will commence within the upcoming 30 months.
  
• Northern region system strengthening scheme at an estimated cost of Rs 123.91 crore.The project will commence within the upcoming 24 months.
  

Ujjivan Finance: Applies for Banking License

Shares of micro-finance company gained as much as 4.1 percent to Rs 468 after the company applied for a banking license for Ujjivan Small Finance Bank Ltd., a wholly owned subsidiary of the company.

Earnings Reaction

Here are the stocks reacting to their first quarter earnings:

• Oberoi Realty (+8.7 percent to Rs 323)
• Sun TV Network (-6.9 percent to Rs 448)
• Claris Lifesciences (-1.9 percent to Rs 276)
• Tvs Srichakra (-4.2 percent to Rs 2,430)
• Agro Dutch Industries (-5.9 percent to Rs 2.4)

*Claris Lifesciences will file application with Income Tax Settlement Commission to settle a tax matter for which estimated liability could be Rs 15 crore.

Earnings Watch

NTPC, Indraprastha Gas and Hindustan petroleum Corporation are the biggest earnings to watch out for. Here are the other companies coming out with their first quarter results, with a look at how their stocks are performing.

• NTPC (+1.2 percent to Rs 168)
  
• Indraprastha Gas (+1.5 percent to Rs 710)
  
• Hindustan Petroleum Corporation (+0.9 percent to Rs 1,251)
  
• Allcargo Logistics (+1.8 percent to Rs 194)

• Shree Renuka Sugars (+2.4 percent to Rs 17)