Stocks To Watch: Reliance Industries, Sun Pharma, Cadila And More

The Nifty futures on the Singapore Stock Exchange, an early indicator of Nifty’s performance in India, fell 0.25 percent to 8,018.

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

Reliance Industries

• Announces successful commissioning of the first phase of their new Para-xylene plant in Jamnagar.
• Plant to double Para-xylene capacity from 2 MMTPA to 4.2 MMTPA.
• Will become the second largest Para-xylene producer in the world on commissioning of the full capacity.
• New capacity will complete the integration within Reliance’s polyester value chain, leading to improved margins.

Cadila Healthcare

• Zydus acquires six brands from Merck Sharp and Dohme (MSD).
• Deal includes transfer of distribution and commercialisation rights and assignment of trademarks of all the six brands to Zydus Healthcare Ltd. in India.
• One of MSD’s legal subsidiaries, Organon (India) Pvt. Ltd., has also transferred the distribution and commercialisation rights for Deca- Durabolin and Durabolin to Zydus for Nepal.
• Financial details for the deal remain undisclosed.

Phoenix Mills

• Acquires shares in its subsidiary.
• Acquires 8.72 percent stake in wholly-owned subsidiary Island Star Mall Developers Pvt. Ltd. from Pinnacle Real Estate Development Pvt. Ltd., another wholly-owned subsidiary.
• Company now holds 100 percent stake in Island Star Mall Developers and it continues to remain its wholly-owned subsidiary.

IRB Infrastructure

• Receives Letter of Award from NHAI for the project of six laning of Kishangarh to Gulabpura section in Rajasthan.
• Estimated cost of this project stands at Rs 1,530 crore and the concession period of the project is 20 years including construction period of 910 days.
• Company has offered premium of Rs 186.30 crore to NHAI in terms of the concession agreement.

Here are some of the other stocks in focus:

• JMC Projects: Secures new orders worth over Rs 1,457 crore.
• Goa Carbon: Company's Bilaspur Plant in Chhattisgarh commenced operations from December 27
• Pratibha Industries: Board to meet on January 04, 2017 to approve the issue and allotment of shares on preferential basis to the lenders of the company under strategic debt restructuring (SDR) scheme.
• Sasken Communications Technologies: Submits draft letter of the offer for the proposed buyback of up to 29.27 lakh equity shares at Rs 410 per share for a total consideration of Rs 120.04 crore.
• JK Tyres: To raise funds worth Rs 1,000 crore via public or private offerings, QIP or FCCBs or other options.
• Tata Chemicals: India Ratings withdraws ratings for the company.

Media Reports

• HUL: To launch mass market herbal goods to tackle Patanjali’s ayurveda line. (Economic Times)
• Maruti Suzuki: Output to increase to twice that of parent Suzuki. (Economic Times)
• Axis Bank: Vatika group raises Rs 495 crore from bank. (Economic Times)
• Tata Steel: Seeks foreign investment for SEZ in Odisha. (PTI)
• Reliance Communications: Minority shareholders demands company to buyback their stake. Some PE and Hedgefunds unhappy with Brookfield deal. (Mint)
• ICICI Bank: Cuts 1-,2-,3-year retail deposit rates by 10-25 bps. (Financial Express)
• TVS Motor: Gets patent for auto hybrid transmission system. (Financial Express)
• Sun Pharma: Two killed, two injured in fire at Ahmednagar plant; no production loss reported. (Bloomberg)