Stocks To Watch: ITC, Sunil Hitech, Bharat Financial And More

The Nifty futures on the Singapore Stock Exchange, an early indicator of Nifty’s performance in India, gained 0.22 percent to 8,035.

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

Religare Enterprises

• To merge 11 wholly-owned subsidiaries with self.
• Move to reduce operational and administrative costs of maintaining multiple legal entities while focusing on core business.

Vardhman Textiles

• Bought back 62.60 lakh equity shares at a price of Rs 1,150 per share.
• Buyback done under tender offer route.
• Buyback represents 9.84 percent of the total paid up equity share capital of the company.
• Amount worth Rs 719.99 crore spent on the buyback.

Sunil Hitech Engineers

• Awarded road EPC projects worth Rs 434 crore in Arunachal Pradesh.
• Project is for two laning of the existing Hunli-Anini road in the state.

Some other stocks in focus:

• Suvi Info: Management to merge with Jagran Prakashan. Suvi would be dissolved without winding up.
• Asian Oilfield Services: Board of Directors to meet on December 30 to consider and approve allotment of warrants.
• Mandhana Retail Ventures: Promoter releases pledge on 1.11 percent of the total share capital.
• Tree House Education: Founder Rajesh Bhatia files a police complaint at Khar police station, says proper procedures were not followed during the board meeting.
• Shilpa Medicare: Promoter holding falls to 54.74 percent from 56.89 percent post issuance of new shares on preferential basis.
• Bharat Financial Inclusion: Morgan Stanley increases stake by 1.0996 percent via open market transaction through its investment arm. Morgan Stanley now holds 7.8603 percent stake in the company.
• BLB Limited: Decides to withdraw merger and amalgamation scheme and voluntary delisting application filed with BSE.
• Dhanuka Agritech: To hold meeting on January 3, 2017 to discuss final terms of buyback offer.
• Balmer Lawrie & Company: Fixed December 27 as record date to allot 8.55 crore equity shares as bonus.

Media Reports

• Reliance Industries: Jio seeks time till December 29 to respond to TRAI’s query. (Economic Times)
• Spicejet: Shareholders clear annual pay of Rs 15 crore for Managing Director Ajay Singh. (Economic Times)
• ICICI Bank: Attempts another auction of Dunlop House. Expects to raise Rs 240 crore from selling the asset with a built-up area of 41,000 sq. ft. (Economic Times)
• BPCL, HPCL, IOC: To open trading desks in Singapore that will hunt for bargain crude oil deals. (Economic Times)
• NALCO, Hindalco, Vedanta: Government weighs duty hike on primary Aluminium. (Mint)
• Tata Steel: Company says demonetisation has impacted business. (PTI)
• ITC: Hikes prices of Navy Cut and Gold Flake by ~14% (Business Standard)
• Tata Motors: Gains from BRTS roll-out. (Business Standard)
• Piramal Enterprises: In the race with Dalmias for Electrosteels Steel. Success of the deal will be the first successful SDR. (Financial Express)
• JK Tyre: To consider raising funds via securities. (Bloomber

Brokerage Picks

• ACC: Cut to sell versus neutral at UBS
• Bharti Infratel: Raised to neutral at Goldman
• Century Plyboards: Raised to buy versus hold at JM Financial
• Marico: Raised to buy at Sharekhan.

IPO Watch

Leading securities depository CDSL, promoted by BSE, on Tuesday filed the draft papers for an initial public offer (IPO). It plans to sell more than 3.5 crore shares.

Also Read: BSE-Promoted CDSL Files Preliminary Papers For IPO