Stocks To Watch: Bharti Infratel, Idea Cellular, Bajaj Auto, Vivimed Labs And More

The Nifty Futures on the Singapore Exchange, an early indicator of Nifty’s performance in India, were little changed at 8,186.

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

• Tata Power: Board to convene extraordinary general meeting (EGM) on December 26 for the removal of Cyrus Mistry as director of the company.
• PTC India Financial Services: Board approves preferential allotment of 8 crore equity shares of Rs 10 each at a price of Rs 38.50 per share to the promoter group.

Ramco Cements: Competition Appellate Tribunal (COMPAT) stayed CCI penalty order with two conditions:

• Company asked to deposit a sum of Rs 25.86 crore in the Registry of the Tribunal in the form of fixed deposit for a period of six months before December 21.
• The company has also been asked to pay the remaining penalty amount with an interest of 12 percent per annum if the appeal is dismissed.

The company will comply with the deposit of the Rs 25.86 crore sum within the said time period.

• UCO Bank: Issues 7.17 crore shares on a preferential basis to Life Insurance Corporation of India at Rs 37.74 per share for a lock-in period of one year.
• SAIL: Cabinet Committee on Economic Affairs gives ‘in-principle’ approval for strategic divestment of the company’s Bhadrawati, Salem and Durgapur (Alloy Steels Plant) units. Strategic buyer to be identified via two stage auction process.
• Bajaj Auto: November sales seen falling 25 percent YoY

• Lupin: Receives FDA approval for generic Nuvigil tablets used to improve wakefulness in adult patients.
• Idea Cellular: No stake sale plan in tower arm being considered by the board.
• Vivimed Labs: Says Finished Dosage Formulation (FDF) facility in Alathur, Chennai completed successful U.S. FDA inspection. Also, obtained ANDA approval for Metronidazole and same is commercialised.
• Sarda Energy and Minerals: Restores operations of iron ore mine that was suspended since March 7 due to a naxal attack.

Media Reports

• Bharti Infratel: Brookfield Asset Management has submitted the highest bid for a 51 percent stake in Bharti Infratel. It may also settle for a significant minority stake if Airtel is unwilling to relinquish control. (Mint)
• Indian Hotels: Forms marketing alliance with Hong Kong-based hotel chain Shangri-La Hotels and Resorts. (Mint)
• Idea Cellular: Axiata is looking to sell its 20 percent stake in the company as it believes that its valuations will remain subdued for the next three years due to the entry of Reliance Jio. (Economic Times)
• Hindustan Unilever: Slashes December advertising budget post demonetisation. (Economic Times)
• Tata Steel: Managing Director Narendran says steel demand in India for 2016-17 seen rising 5-6 percent. (Bloomberg)
• HCC: To consider equity, debt issuance under new debt recast scheme. (PTI)

Block Deals

• Bharat Forge: Owners plan to sell one percent stake.
• IDFC Bank: Sipadan Investments plans to sell shares via block deal.

Source: Bloomberg

Sheela Foam IPO

Subscribed 1 percent on first day.

Earnings Reactions To Watch

• Tata Power
• National Fertilizers
• Tamil Nadu Newsprint & Papers

Earnings To Watch Today

• Balkrishna Industries
• GVK Power & Infrastructure
• Man Infraconstruction
• Punj Lloyd
• Ratnamani Metals & Tubes