Stocks To Watch: IL&FS Engineering, NHPC, JSW Energy And More

The Nifty futures on the Singapore Stock Exchange, an early indicator of Nifty’s performance in India, gained 0.6 percent to 8,291.

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

IL&FS Engineering & Construction Company

• Emerges as the lowest bidder for rural electrification works worth Rs 225 crore in Jharkhand.
• Project expected to be completed in 24 months.
• Order inflow for the company in FY17 at Rs 3,107 crore so far.
• Stock has fallen 33.38 percent in 2016.

NHPC

• Signs power purchase agreement (PPA) for up-coming projects Tawang-I and Tawang-II with Assam Power Distribution Company Ltd.
• Extends bulk power supply agreement (BPSA) for ‘Loktak’ power station project with Assam Power Distribution Company Ltd.
• PPA and BPSA signed for a period of 35 years from the date of commercial operations (CoD) of respective projects.
• Stock has gained 30.48 percent in 2016.

• Reliance Power: Supreme Court allows procurers appeals against APTEL's judgement regarding commercial operation of Sasan Power Ltd.
• Axiscades Engineering Technologies: Completes acquisition of Axiscades Aerospace & Technologies Pvt. Ltd. Existing shareholders will receive 10 shares each of Axiscades Engineering for every 45 shares of Axiscades Aerospace.
• Time Technoplast: To consider means for fund raising during December 13 meeting. Company has shareholder approval to raise funds up to Rs 200 crore.
• Ujjivan Financial Services: To seek shareholder approval to increase borrowing limit to Rs 7,000 crore from Rs 6,000 crore and to create charges on assets not exceeding Rs 7,500 crore.
• Banco Products: Decides to drop buyback proposal.
• Jyothy Laboratories: Board of directors approve proposal to issues non-convertible debentures worth Rs 400 crore on a private placement basis.

Media Reports

• HDFC: Max Life along with HDFC Life working on merger issues. (Financial Express)
• JSW Energy: In talks to buy Odisha plant of Monnet Power. (Business Standard)
• Praj Industries: Inks MoUs with Indian Oil, Bharat Petroleum for bio-ethanol plants. (Financial Express)
• Tata Chemicals: Cyrus Mistry seeks shareholder support to block ouster move. (Bloomberg)

• IL&FS: Plans to raise Rs 5,000 crore from group firms within the next six months. (Mint)

IPO Updates

• Sheela Foam: To list on the bourses today at an issue price of Rs 730 per share. Issue was subscribed 5.09 times.
• Laurus Labs: IPO subscribed 4.54 times on day 3.

New India Assurance: IPO may take six months after government approval.

Earnings Reactions To Watch

• Steel Authority Of India

Also Read: SAIL’s Woes Continue In The Second Quarter

• Electrosteel Steels
• Seamec
• NLC India
• Jammu & Kashmir Bank
• Finolex Industries
• Claris Lifesciences
• MMTC

Earnings To Watch Today

• DLF
• Jindal Steel and Power
• DB Realty
• NMDC
• Monnet Ispat
• Jaypee Power Ventures
• Rolta India
• Puravankara Projects