Stocks To Watch: Tata Steel, JSW Steel, South Indian Bank, Bajaj Auto And More

The Nifty futures on the Singapore Stock Exchange, an early indicator of Nifty’s performance in India, was little changed at 8,065.

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

Tata Steel: Outcome Of EGM

• 90.8 percent vote for removal of Nusli Wadia as director.
• 9.2 percent vote against removal.

South Indian Bank

• Board of Directors approve rights issue of equity shares in the ratio of 1:3.
• Existing shareholders will have the option to buy one equity share at Rs 14 for every three shares held.
• If shareholders acquire the shares at Rs 14, the bank will raise as much as Rs 630 crore.
• The shares of the bank are currently trading at Rs 20.8 per share.

JSW Steel

• Shareholders approve sub-division of shares in the ratio of 1:10.
• Each share of Rs 10 will be sub-divided into 10 shares of Re 1.
• Record date for stock split set for January 5, 2017.

Here are some of the other stocks in focus:

• Kalindee Rail Nirman: Delhi and Calcutta High Court sanction the amalgamation of the company with Texmaco Rail & Engineering Ltd.

• IFCI: Changes short-term benchmark rates to 8.6 percent per annum from current 8.5 percent per annum.
• Alankit: Appointed e-KYC user agency for the usage of Aadhaar Authentication Services provided by UIDAI to provide Aadhaar enabled services to company beneficiaries, clients and customers.
• SREI Infrastructure Finance: Subsidiary to issue NCDs worth Rs 250 crore on January 3, 2017, with an option to retain over subscription up to Rs 500 crore.
• Crompton Greaves Consumer Electricals: Promoter release pledge on 22.34 percent of the total share capital.
• Prism Cement: HDFC Mutual Fund acquires an additional 2.037 percent in the company, increasing its total stake to 7.35 percent.
• Capital First: Raises Rs 100 crore via issue of NCD’s on a private placement basis.
• Vardhman Textiles: Will initiate a share buyback. Issue is open for subscription on January 4, 2017 till January 17, 2017..
• Future Enterprises: Allotted 270, 9.5 percent, secured redeemable Non-Convertible Debentures of Rs 10 lakh each and 9.55 percent Secured Redeemable NCDs of Rs. 10 lakh each aggregating to Rs 45 crore, on private placement basis.

Media Reports

• Bajaj Auto: To hike prices of its bikes by up to Rs 1,500 from January in order to partially offset the impact of rising input costs. (PTI)
• Jet Airways: Plans to raise $100 million in U.S. dollar-denominated debt by March 2017. To use funds to refinance rupee-based loans. (Economic Times)
• Tata Steel: Cyrus Mistry says accuses current Interim Chairman Ratan Tata of trying to jeopardise the restructuring of Tata Steel’s European operations, says deal with Germany’s ThyssenKrupp under cloud due to Tata. (Business Standard)
• Ashoka Buildcon: Will initiate talks with potential investors to provide exits to the joint ventures of Macquarie and State Bank of India. (Mint)
• ANG Industries: A consortium of lenders led by State Bank of India plan to sell a plant of the company for at least Rs 17.49 crore. (Financial Express)
• Tata Teleservices (Maharashtra): Tata Sons reiterate their intent of paying Japan's NTT Docomo a guaranteed value for shares it owned in the joint venture. (Economic Times)
• K Raheja Corp: Looking to raise Rs 500 crore through commercial mortgage-backed securities for its infotech park in Hyderabad. (Business Standard)