Stocks To Watch: JSW Steel, Magma Fincorp, Oil Firms, Unitech

The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, was little changed at 9,210.

Your Monday morning briefing.https://t.co/OvrZLHdHM6 pic.twitter.com/y0nP4Cl9Bq

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

Unitech

• Managing Director Sanjay Chandra and his brother Ajay Chandra sent to police custody till April 3
• Arrest for not developing a real estate project in Gurugram despite receiving funds from customers
• EOW informed the court that the Chandra brothers raised around Rs 360 crore from the customers and the banks for the Gurugram project

Yes Bank

• Board approves allotment of 3.27 crore shares to QIBs
• Shares to be issued at Rs 1,500 per share
• Bank to raise Rs 4,906 crore from issuance of shares

JSW Steel

• To restructure holding structure of subsidiaries
• To transfer certain assets and liabilities to fully-owned Periama Holdings in the U.S.
• To liquidate JSW Steel Holding (USA) Inc.

Karnataka Bank

• Reduces MCLR by 25 to 55 basis points depending on the maturity
• Also reduces interest rate on housing loan to 9 percent and car loan to 9.9 percent
• Bank targeting a business turnover of Rs 1.1 lakh crore for FY18
• Turnover to comprise of Rs 64.5 lakh crore of deposits and Rs 45.5 lakh crore of advances

Only five large banks can survive in the long-term, says @udaykotak.https://t.co/c8GKkMvlEQ pic.twitter.com/PWLtYelDj5

Magma Fincorp

• Sold non-performing assets worth Rs 679 crore
• Consolidated net profit after tax to decline by Rs 135-145 crore as a result
• Gross NPA and Net NPA to be reduced by 3.6 percent and 2.1 percent respectively
• As of December 31, 2016, Gross and Net NPA stood at 10.5 and 8.1 percent respectively

Vikas EcoTech

• Newly polypropylene manufacturing plant destroyed in a fire at the Shahjahanpur manufacturing facility in Rajasthan
• Four other manufacturing units in the same factory complex are safe and fully operational
• Will take a minimum of 4 months to restore full production of this unit
• The polypropylene unit was expected to contribute around 3 percent to the company's annual sales in FY18
• Total damage estimated to be around Rs 15-20 crore

Motilal Oswal

• Acquires 6.88 percent stake in MAS Financial Services for Rs 100 crore
• To be allotted another 2.19 percent stake in the company for Rs 35 crore
• The entire 9.07 percent stake totals to a sum of Rs 135 crore

Indoco Remedies

• Receives warning letter from the U.S. FDA on March 27, 2017
• FDA remains concerned about the 2 observations in the Verna plant in Goa

‘Hotel industry will lose around $30 billion a year on highway liquor ban', reports @Nikunj_Ohri.https://t.co/C8wxLk1H63 pic.twitter.com/x2rHwqbh7e

• JSW Steel: Posts highest-ever monthly crude steel production of 1.45 million tonne in March 2017
• Dhanlaxmi Bank: Seeks shareholder approval to issue 4.61 crore equity shares on a preferential basis to various investors. At Friday's closing price of Rs 29.7, the bank will raise Rs 137 crore
• NLC India: Expects to achieve a lignite mining capacity of 62.15 million tonnes per annum and coal production of 31 million tonnes per annum by 2025
• Peninsula Land: Acquires 86 percent stake in Topvalue Real Estate Development Ltd. through its subsidiary Peninsula Holding and Investment Pvt. Ltd. for Rs 8.6 lakh, thereby making it a wholly-owned subsidiary of the company
• Torrent Power: Allotted NCDs worth Rs 245 crore with a coupon rate of 8.95 percent
• Procter & Gamble Hygiene: Rosemount LLC has transferred 10.88 lakh shares to another promoter group company Procter & Gamble Overseas India B.V., the Netherlands.
• Bank of India: Seeks board's approval for proposed plan to raise capital during FY18
• Lakshmi Vilas Bank: Revises overnight MCLR rate to 9.4 percent with effect from April 1
• Amtek Auto: Allots 2.35 crore shares to promoter entities at Rs 50 per share aggregating to Rs 117.5 crore
• MBL Infrastructure: Bankers evaluating options for debt resolution process
• Bajaj Finance: Allots NCDs worth Rs 474 crore on a private placement basis
• Mawana Sugars: To invest Rs 8 crore in 5 percent redeemable preference shares in subsidiary Siel Industrial Estate
• Everest Kanto: To sell company's land, building and electric installations for $29 million to SNF Flopam India
• Himachal Futuristic Communications: To buy 6 percent equity in Polixel for Rs 74.6 lakh and make Polixel a wholly-owned subsidiary
• Future Lifestyle Fashions: Completes fund raising of Rs 250 crore in Lee Cooper's business
• Reliance Capital: Issues NCDs worth Rs 300 crore
• Shriram Transport Finance: To allot NCDs worth Rs 95 crore on a private placement basis

India's strong growth potential trumps high valuations, says Aberdeen's Hugh Young.https://t.co/cOnXNAbqqb pic.twitter.com/IyxcVqgwyA

March Auto Sales

Maruti Suzuki

• Clocks highest ever sales for a fiscal year
• Sold 15,68,603 units for FY17, 9.8 percent higher than FY16
• Sold 1,39,763 units in March 2017, a growth of 8.1 percent year-on-year

Mahindra & Mahindra

• Overall sales for March at 56,031 vehicles, a growth of 6 percent year-on-year
• Commercial Vehicle sales grew 31 percent to 22,908 units
• Exports fell 28 percent on a year-on-year basis

Tata Motors

• Total sales for FY17 grow 6 percent to 5,45,561 units
• Sales for the January-March quarter grew 3 percent to 1,51,067 units
• For the month of March, sales grew 8 percent to 57,145

Eicher Motors

• Total sales for March grew 17 percent year-on-year to 60,113 units
• Exports grew 24 percent in March to 1,564 units
• Best ever monthly sales in the month of March
• Domestic sales grew 17 percent in March to 58,549 units

Owing to our strong order book, we have cleared all BS-III inventory in due time. Our customers will be receiving BS-IV compliant motorcycles from April 01, 2017.

Rudratej Singh, President, Royal Enfield

SML Isuzu

• Total sales for March increased by 26.4 percent to 2,094 vehicles
• Sales for the fourth quarter grew 21 percent to 4,241 units
• Sales during FY17 grew 19.6 percent to 15,184 units

Bulk Deals

• Future Retail: Bennet Coleman & Company buys 0.9 percent stake at Rs 256 per share
• Selan Exploration: Porinju Veliyath buys 0.6 percent stake at Rs 158 per share
• Adlabs Entertainment: Swiss Finance Corp sells 0.5 percent stake at Rs 79.7 per share
• Setco Automotive: Morgan Stanley sells 0.5 percent stake at Rs 34.5 per share

Market experts said the move is part of BSE's effort to increase trading volumes.https://t.co/6KlQIh7mTZ

Media Reports

• Jyothy Labs: To extend period for exercise of option by Henkel. (Bloomberg)
• Indraprastha Gas: RBI bars further FII investment in shares at it surpasses its 24 percent limit. (Bloomberg)
• Dewan Housing: Sells entire stake of DHFL Pramerica to DHFL investments for Rs 2000 crore. (Bloomberg)
• Axis Bank: In pact with Gus Holdings to sell 10 percent stake in Experian India for Rs 64 crore. (Bloomberg)
• OMCs: Petrol prices cut by Rs 3.77 per litre while diesel prices cut by Rs 2.91 per litre. (PTI)
• Tata Motors: Subsidiary TAL to export Made-in-India robot to Europe. (Financial Express)
• Infosys: Only 24 percent promoters vote for a salary hike for COO Pravin Rao. (Economic Times)
• Godfrey Phillips: In talks to sell marketing and distribution divisions. (Economic Times)
• Aditya Birla Fashion and Retail: Eyes 49 percent stake in local arm of Danish apparel maker Bestseller. (Economic Times)
• Kotak Mahindra Bank: To launch infrastructure debt fund with an initial investment of Rs 300 crore. Bank awaiting approval from the RBI. (Economic Times)
• Aviation Companies: ATF prices reduced by 5.1 percent to Rs 51,428 per kilolitre from April 1. (Economic Times)
• GAIL: Shell withdraws from Kakinada gas project. (Business Standard)
• L&T: Defence ministry to meet today to look at 'strategic partner' policy. (Business Standard)
• BSE: To charge for each equity trade from today. (Business Standard)
• HCL Tech: To invest Rs 500 crore in Andhra Pradesh. (Financial Express)

RBI likely to maintain status quo on April 6.https://t.co/uT8vl0dm93 pic.twitter.com/gbiYasB0bt

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