Stocks To Watch: Adani Power, Reliance Communications, Sical Logistics

• Adani Power approves sale of Mundra power business to subsidiary
  
• Fitch, Moody's downgrade Reliance Communications
  
• Sical Logistics wins order from Mahanadi Coal Fields
  
• U.S. FDA inspection in Spain plant results in no observation for Vivimed Labs
  
• Aegis Logistics sells stake in step-down subsidiary
  

The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, gained 0.13 percent to 9,688.

Your Wednesday morning briefing.https://t.co/TWX0kH1UtP pic.twitter.com/bzyoGGu2SF

Here are the stocks to watch out for in today's session:

• Adani Power: Board approves sale of its Mundra power business to its subsidiary Adani Power (Mundra)
• Adani Enterprises: Reduces stake in Adani Green Energy by 50 percent
• Bank Stocks: In focus ahead of the Reserve Bank of India policy decision.
• Reliance Communications: Fitch downgrades company's Industrial Development Revenue Bonds (IDRs) to RD (Restricted Default) from CCC. Also downgrades bonds to C/RR4 from CCC/R4
• Vivimed Labs: U.S. FDA inspect the company's plant in Spain and issues zero Form 483 observations.
• Sical Logistics: Wins contract worth Rs 289 crore from Mahanadi Coal Fields
• Aegis Logistics: Sells 19.7 percent stake in step-down subsidiary Hindustan Aegis LPG Ltd. to Itochu Petroleum Co. (Singapore) for an aggregate consideration of Rs 250 crore
• ITD Cementation: HDFC Mutual Fund A/c HDFC Prudence Fund sells 28 lakh shares or 1.8 percent stake at Rs 175.01 each

#BQOpinion | Five questions that RBI needs to answer, writes @dugalira.https://t.co/Qy3StN5Pjt pic.twitter.com/wBTwmqOqkn

India Grid Trust

• Axis Bank Ltd. buys 20.71 lakh shares or 0.92 percent stake at Rs 96.38 each
• Citigroup Global Markets Mauritius Pvt. Ltd. buys 76.13 lakh shares or 3.4 percent stake at Rs 98.48 each
• Morgan Stanley France SAS buys 32.19 lakh shares or 1.43 percent stake at Rs 98.59 each
• Credit Suisse (Singapore) Ltd. A/c Credit Suisse (Singapore) sells 16.02 lakh shares or 0.71 percent stake at Rs 97.25 each
• Morgan Stanley Asia (Singapore) Pte. sells 33.57 lakh shares or 1.5 percent stake at Rs 96.77 each

MEP Infra

• Divya Kothari sells 11.45 lakh shares or 0.7 percent stake at Rs 93.51 each
• Arcadia Share & Stock Brokers Pvt. Ltd. bought 9.125 lakh shares or 0.56 percent stake at Rs 92.35 each

Valuations are high but stocks are headed higher, Ridham Desai (@rndx1) at @MorganStanley Annual India Summit.https://t.co/6yMCXVL936 pic.twitter.com/L1PKQiuNeb

Other Corporate News

• Yes Bank: Shareholders approve increase in borrowing limit to Rs 70,000 crore from Rs 50,000 crore and raising of funds by issue of debt securities up to Rs 20,000 crore
• HDFC: To issue NCDs worth Rs 2,000 crore on private placement basis
• Oil India: Discovers hydrocarbon in the Baghjan Petroleum Mining Lease (PML) in the Upper Assam Basin
• BayerCrop Sciences: Board gives approval to buyback of 10.2 lakh equity shares.
• Indiabulls Ventures: Allotted 4.74 crore equity shares to Tamarind Capital Pte. Ltd. at an issue price of Rs 94.7 per share
• Lakshmi Vilas Bank: To consider fund raising through issue of 5 crore equity or equity linked securities. Will also consider fund raising through debt securities up to Rs 250 crore
• Deepak Nitrite: Resumes operations at its manufacturing facility in Roha
• India Glycols: Dehradun unit of the company ceases to be 100 percent export oriented undertaking (EOU)
• Steel Strips Wheels: Birla Mutual Fund scheme buys 2.97 lakh shares or 1.9 percent stake at Rs 885 each
• Stampede Capital: Radhwa Trading Pvt. Ltd. buys 26.25 lakh shares of 1.15 percent stake at Rs 19.04 each. Garna Finvest Pvt. Ltd. sells 24.9 lakh shares or 1.09 percent stake at Rs 19.05 each

TCS

• Signs pact with Siemens to create industrial internet of things
• Application development and management for MindSphere Core Platform and Cloud Gateway MindConnect Nano

This new partnership will see Siemens and TCS work to explore implementing the MindSphere core platform, including operation and support services such as application and infrastructure management as well as analytical and testing services.

Milind Lakkad, EVP and Global Head - Manufacturing, TCS

Will investors' faith in SBI be repaid? @alexandermats reportshttps://t.co/RNu9t7CKR8 pic.twitter.com/Vz1Ut4BuJT

Today's Nifty Call

Self-made $900 million man says India must swap hope for action, report @nupuracharya & @tomredmondjapan.https://t.co/noMMYWZmDh pic.twitter.com/JJ4dKGs8Us

Brokerage Calls

• Bajaj Finance: Raised to 'Buy' at Goldman Sachs
• Bajaj Finserv: Raised to 'Neutral' at Goldman Sachs
• Bank of Baroda: Raised to 'Neutral' at Goldman Sachs
• Blue Star: Raised to 'Buy' at Angel Broking with price target of Rs 760
• HDFC: Raised to 'Neutral' at Goldman Sachs
• Jet Airways: Raised to 'Buy' at ICICIdirect with price target of Rs 580
• LIC Housing: Cut to 'Sell' at Goldman Sachs

Source: Bloomberg

Billionaire Ambani brothers see fortunes split since feud.https://t.co/OLAtwP7Wzh pic.twitter.com/k7opMfeefP

Stocks In F&O Ban

• DLF
• GMR Infrastructure
• IndiaBulls Real Estate
• Infibeam Incorporation
• Jaiprakash Associates
• Reliance Communication
• Reliance Capital

Recovery of Rs 50,000-crore bad loans pending, yet no full-time chief at a Mumbai Debts Recovery Tribunal@VarunAcj https://t.co/Jc9F2Jaswm pic.twitter.com/IBywTO5nzH

Media Reports

• ONGC: May buy out entire government holding in Hindustan Petroleum. (Economic Times)
• IFCI: Government may look at merger of IIFCI with the company. (Economic Times)
• Bharti Airtel: Competition Commission of India gives its nod to merger plan with Telenor India. (Economic Times)
• TCS: Planning to launch several businesses in emerging technology segments to each over $1 billion each over the next 3-7 years. (Business Standard)
• HUL: Revenue from food business for FY17 drops 49 percent. (Business Standard)
• BSE: Asks brokers to file training programme details on AMT/CFT. (PTI)
• Alembic Pharma: Looking to file 100 ANDAs in the next three years in the U.S. (PTI)

Reliance Communications downgraded again by Moody's and Fitch, @azmanusmani reports. https://t.co/8LbQgGXTIr pic.twitter.com/sMEphLMCb5

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