Stocks To Watch: Tata Steel, Wockhardt, JP Associates, Hero MotoCorp

The Singapore traded SGX Nifty, an early indicator of Nifty's performance in India, was trading lower by 0.2 percent at 8,967.

Your Wednesday morning briefing.https://t.co/flhf8mvzLY pic.twitter.com/Sh1rKB4Zpn

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

Tata Steel

• Completes consultation process on a proposal to close the British Steel Pension Scheme to future accrual.
• To close the scheme to future accrual with effect from March 31, 2017

Wockhardt

• Health Products Regulatory Authority of Ireland (HPRA) has inspected the Shendra facility in Aurangabad
• HPRA recommended the renewal of certificate based on the general compliance with the principles and guidelines of good manufacturing practices.
• Company on March 1 had received a warning letter from the U.S. FDA for its Morton Grove unit in the U.S.

JP Associates

• Approves proposal for reschedulement of outstanding amounts of foreign currency convertible bonds
• Approves proposal for realignment of remaining debt to Ultratech Cement
• Realignment to be done upon consummation of scheme of arrangement for transfer of identified cement plants of the company to Ultratech
• Both proposals yet to receive approval from respective bondholders and lenders

Gujarat Fluorochemicals

• Wholly-owned subsidiary Inox Renewables Ltd. and its subsidiary Inox Renewables (Jaisalmer) Ltd. enter into definite agreements
• Agreements for sale of a substantial part of their operating wind farms to Leap Green Energy Pvt. ltd. on a slump sale basis for an undisclosed price
• Transaction subject to fulfillment of certain conditions
• Transaction to be completed over the next few months
• Transaction to decrease leverage of company at a consolidated level by reducing debt of around Rs 800 crore that was attributable to the wind farming business

• Hero MotoCorp: Board declares interim dividend of Rs 55 per equity share of Rs 2 each for financial year 2016-17
• Infosys: Housing Bank Algeria selects Infosys Finacle to power its operations
• Apollo Hospitals: Allots 2,000 rated, secured Non-Convertible Debentures of Rs 10 lakh each, aggregating to Rs 200 crore to HDFC Bank.
• JK Tyre and Industries: Inter-se transfer of 18 million equity shares or 7.94 percent from the holding company J.K. Fenner (India) Ltd. through off-market trade
• Dilip Buildcon: Acquires 100 percent equity shares of M/s Bhavya Infra and Systems Pvt. Ltd. which now becomes the wholly-owned subsidiary of the company.
• Bank of India: Extraordinary General Meeting of shareholders on March 30, 2017 to approve issuance of share capital by way of preferential issue to the Government of India and Life Insurance Corporation of India.
• Central Bank of India: Allots 5,000 Non-Convertible, redeemable, unsecured Basel-III compliant Tier-II bonds of Rs 10 lakh each aggregating to Rs 500 crore.
• Geometric: Promoter Manu Parpia sells 2.76 percent stake via open market transaction. Shareholding of Parpia now falls to 3.35 percent from 6.11 percent.
• Sagar Cements: Cement production for February down 3.4 percent at 1,85,463 Million Tonnes.
• Deepak Nitrite: Allots 1.44 crore equity shares of Rs 2 each to Qualified Institutional Bidders (QIBs) at Rs 104 per share. The total paid-up equity capital of the company increased to Rs 23.25 crore from Rs 13.07 crore

Media Reports

• Interglobe Aviation: Indigo to start flights to Sharjah and Doha later this month. (Business Standard)
• JP Power Ventures: Brookfield Asset Management in talks with lenders of JP Power Ventures to acquire the company's three power plant. A deal could be valued at Rs 4,000-5,000 crore. (Economic Times)
• Maruti Suzuki: Hits Nexa target three years ahead of schedule. Achieves 15 percent of its total monthly sales in volumes from its premium nexa dealership. (Financial Express)
• ONGC: Petro additions plant is now operational. (Financial Express)
• Sona Koyo: Sona group agrees to buy Mitsubishi Materials' stake in Sona BLW. (Bloomberg)
• OCL Iron: Plan to merge OISL Auto with itself withdrawan. (Bloomberg)

IPO Corner

Music Broadcast Limited

• IPO subscribed 2.19 times on Day 2
• QIB portion subscribed 1.06 times
• HNI portion subscribed 0.24 times
• Retail portion subscribed 3.66 times

Avenue Supermarts

• IPO opens today
• Closes on March 10, 2017
• Price Band: Rs 295-299
• Allotted 18.76 million equity shares at Rs 299 per share aggregating to a total of Rs 561 crore to 35 anchor investors of which 12 were mutual funds

Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.