Stocks To Watch: Axis Bank, Alok Industries, Havells India, JSW Steel And More

19 Oct 2016, 08:01 AM IST

People walk pass the Bombay Stock Exchange (BSE) building displaying India’s benchmark share index on its facade, in Mumbai. (Photo: Reuters)

The Nifty Futures on the Singapore Exchange, an early indicator of Nifty’s performance in India, gained 0.2 percent to 8,684.

Mahindra & Mahindra: Subscribed to 60 lakh equity shares of Classic Legends Pvt. Ltd. for Rs 6 crore, constituting 60 percent of its post-issue capital, offered on preferential basis.
Mahindra CIE: Receives shareholder approval to provide guarantees regarding loans and securities of subsidiaries worth Rs 5,000 crore.
Reliance Industries: May close the Fluidized Catalytic Cracking Unit (FCCU) of Jamnagar Refinery for routine maintenance and inspection activities from the second week of November 2016 for five weeks.
Allahabad Bank: Allots 42.3 lakh equity shares to the Government of India at Rs 78.01 per share on a preferential basis.
Alok Industries: Proposes resolution to declare itself as a potentially sick unit as losses mount to Rs 3,722.8 crore, which has eroded 50 percent of the peak net worth of Rs 5,415.82 crore.
Vedanta: Clarifies that Sesa Mining Corporation Ltd., a subsidiary of the company, had suspended the work at Bicholim mines due to union agitation and this a temporary closure of operations.
Tata Motors: To raise Rs 500 crore through NCDs via private placement.
Bank of Baroda: To consider and approve the issue of AT-1 bonds.
Apollo Tyres: Received shareholder approval to raise funds via issue of NCDs worth Rs 750 crore via private placement.

Axis Bank: Suffers cyber attack. Hires Ernst & Young to probe damage. (Economic Times)
JSW Group: To set up a steel plant in West Bengal worth Rs 1,000 crore. Investment is a part of the proposed Rs 3,400 crore investment to be made by the group in the state. (Economic Times)
SAIL: Forms joint venture with Arcelor Mittal to set up Rs 5,000 crore plant in Rourkela. (Financial Express)
Apollo Hospitals: Will dilute some stake in its clinical division for Rs 450 crore. (Mint)
GMR Infrastructure: In talks with SembCorp Industries of Singapore and U.S. based Lone Star Funds for selling significant stake in GMR Chhattisgarh Energy. (Mint)
Piramal Enterprises: Sathavahana Ispat Ltd. in talks with Piramal Enterprises’ structured financing group and others to raise as much as Rs 500 crore in debt funding. (Mint)
PNB: PNB Housing Finance’s IPO worth Rs 3,000 crore to hit the market on October 25. (PTI)
Jammu and Kashmir Bank: To focus on consolidation and recovery of NPAs. (PTI)