A broker monitors stock while sipping tea at a brokerage firm (Photographer: Dhiraj Singh/Bloomberg)
The Nifty futures on the Singapore Stock Exchange, an early indicator of Nifty's performance in India, fell 0.3 percent to 8,398.
Your Monday morning briefing. https://t.co/bjAd28DIo7 pic.twitter.com/LeUPCcvyXX
Here are the stocks to watch out for in today's session :
Coal India
- Unit Bharat Coking Coal increases coking coal prices by about 20 percent
- Coal India will earn additional revenue of Rs 702 crore for balance period of FY16-17 due to price revision
Jindal Stainless
- To raise Rs 895 crore from 31 lenders on preferential basis
- To raise Rs 75 crore from Virtuous Tradecorp Pvt Ltd., a promoter group entity
- To raise Rs 425 crore from promoter group companies
Pokarna
- Raises capacity of unit Pokarna Engineered Stone
- Plans to expand quartz surfaces production capacity by 130 percent with investment of Rs 325 crore
- Board has approved extending corporate guarantee for the loan facilities
- Sical Logistics: Company gets contract worth Rs 304.92 crore for excavation of northern coal fields at Madhya Pradesh.
- Axis Bank: Lender cuts one-year benchmark lending rates by 65 basis points to 8.25 percent.
- IFCI: State-owned development bank lowered its one-year benchmark by 75 basis points to 10.75 percent.
- Tata Steel: The Nomination & Remuneration Committee unanimously recommended the induction of N. Chandrasekaran as a member of the board.
- Network 18 Media & Investments: Company approved the scheme of amalgamating 14 of its wholly-owned subsidiaries.
- TV18 Broadcast: Company approved the scheme of amalgamating four of its wholly-owned subsidiaries.
- Reliance Defence & Engineering: Company appointed Kartik Subramaniam as the chief executive officer.
- Jain Irrigation Systems: Unit Jain International Trading B.V. to issue unsecured senior notes worth $200 million.
- Oil Refiners: State oil companies have raised the prices of petrol by 42 paise/litre and diesel by Rs 1.03/litre after the fortnightly review to align local prices with international rates.
Also Read: Bank Of America Merrill Lynch Pegs Sensex Target At 29,000 For 2017
Media Reports
Reliance Industries
- Company to raise Rs 30,000 crore for unit Reliance Jio's expansion
- Company will raise funds through a rights issue of optionally convertible preference shares
(Economic Times)
Fortis Healthcare, Fortis Malar Hospitals
- Private equity fund TPG has offered close to Rs 3,000 crore for 26 percent stake in Fortis Healthcare.
- TPG has also offered Rs 1,500 crore for a stake in SRL Diagnostics and Fortis Malar
(Mint)
- Tata Steel, Jindal Steel: India has imposed anti-dumping duties on colour-coated or pre-painted flat products of alloy or non-alloy steel imported into the country, a government notification said on Friday. (Reuters)
- JSW Cement: Company set to increase its cement manufacturing capacity from current 1.0 million tonnes/year to 3.4 million tonnes/year at its Bellary plant. (PTI)
- Jagran Prakashan, HT Media: The government is considering a proposal to increase foreign direct investment limit in print media sector to 49 percent from 26 percent at present. (PTI)
- Tata Steel: Company in talks with stakeholders to cut its UK pension benefits and end its liability for the scheme, according to a statement from the trustees of its British Steel Pension Scheme. (Reuters)
- NTPC: Company to pay Rs 700 crore to Rajasthan government for its stake in the 1,000 megawatt Chhabra power plant. (Mint)
- Tata Teleservices: C. Sivasankaran, the Seychelles-based businessman who has been at loggerheads with Tata Sons Ltd regarding his investment in Tata Teleservices, is exploring an amicable settlement with the Tata group holding company. (Mint)
- IDFC Ltd: Unit IDFC Alternatives to acquire two road projects from GR Infraprojects for Rs 350 crore. (Mint)
- Hindustan Petroleum Corp: State-run oil refiner is in talks with six foreign suppliers to source liquefied natural gas for its Rs5,400 crore LNG terminal coming up at the Chhara Port in Gujarat. (Mint)
- State Bank of India: State General Reserve Fund of Oman and the State Bank of India will infuse $150 million and $50 million respectively in private equity fund Oman India Joint Investment Fund. (Business Standard)
Data To Watch
- India December exports rise 5.7 percent year-on-year
- India December imports rise 0.5 percent year-on-year
- India December trade balance -$10.369 billion
IPO Watch
- BSE Ltd: Company has scheduled its initial public offering for 23-25 January, according to a filing by India's second biggest stock exchange. Investment bankers said the BSE IPO could raise around Rs 1,350 crore. (Reuters)
Earnings Preview
- Company expected to report its highest third quarterly sequential revenue growth in four years
- Gross refining margins is seen around $11 per barrel
More Earnings To Watch
- Dewan Housing Finance Corp
- LIC Housing Finance
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