Stocks To Watch: Ajanta Pharma, Max Ventures, Fortis Healthcare And More

The Nifty futures on the Singapore Stock Exchange, an early indicator of Nifty’s performance in India, was up 0.17 percent at 8,262.

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

Ajanta Pharma

• Gets U.S. FDA approval for antidepressant drug Duloxetine
• The company will be launching the product shortly in 3 strengths capsules: 20 mg, 30 mg and 60 mg.

Max Ventures & Industries

• Analjit Singh-promoted Max Ventures decided to sell a 22.51 percent stake for Rs 121 crore to a subsidiary of New York Life, the largest U.S. mutual life insurance company.
• The board of Max Ventures approved the stake sale through a preferential allotment of fresh shares.

• Jagran Prakashan: Company seeking shareholders’ approval to buy back 1,55,00,000 equity shares for Rs 195 each.
• Valecha Engineering: The infrastructure firm gets order worth Rs 56.71 crore for widening of bridge over Mithi River in Mumbai.
• Reliance Capital: Company to issue NCDs worth Rs 3 crore with an option to retain oversubscription up to Rs 3 crore.
• Engineers India: Company gets order worth more than Rs 2,500 crore from Hindustan Petroleum for modernisation of Vizag refinery
• Eros International Media: Company receive shareholders’ approval for issue of NCDs by way of public or private placement.
• Burnpur Cement: Company blames note ban for inability to repay loans
• NIIT Technologies: Company appoints Adrian Morgan as the head of NIIT Insurance Technologies and Joel Lindsey as global head of digital services.
• Shree Rama Newsprint: Company allotted 2,91,72,900 equity shares to ICICI Bank on conversion of debentures. Promoter stake will reduce to 60 percent from current 74.72 percent, according to BloombergQuint’s calculations.
• Future Consumer: The supermarket operator approved issue of non-convertible debentures (NCDs) on private placement basis.
• SREI Infrastructure Finance: Unit SREI Equipment Finances’ NCD issue of Rs 500 crore was subscribed more than 1.12 times till the closure of the issue on January 6.

Also Read: Air India ranked third-worst performing airline in the world

Media Reports

Piramal Enterprises, Shriram Capital

• Piramal Enterprises (PEL) Chairman Ajay Piramal may consolidate his control in Shriram Capital
• A hike in Piramal shareholding could pave way for the merger of Shriram Capital with the financial services business of PEL
• Rajesh Laddha, the chief financial officer of Piramal group, looks set to take charge as Shriram Capital CEO soon

(Economic Times)

Fortis Healthcare

• Private equity fund Bain Capital has started talks to buy a significant minority stake in Fortis Healthcare
• Apart from Bain, three more global PE giants—KKR, TPG and another contender whose identity is not known—are in the fray.

(Mint)

• Multi Commodity Exchange of India: Traders and exchanges have urged Finance Minister Arun Jaitley to scrap the commodities transaction tax and allow eligible participants and instruments to deepen the futures markets. (Business Standard)
• Hero MotoCorp: Rockman Industries, the auto-components arm of the Hero Group, has acquired a majority stake in Moldex Composites, a Gujarat-based British-Indian design and manufacturing company. (Economic Times)
• ONGC: Gujarat State Petroleum Corp will buy entire output at a predetermined price from the KG Basin gas field that it has agreed to sell to ONGC for $1 billion. (Economic Times)
• Telecom companies: The Department of Telecom will meet telecom operators once again this quarter for a status check on call drops. (PTI)
• Bank of Baroda: State-run lender reduced home loan rates by 70 basis points to the industry's lowest level of 8.35 percent that will be applicable for customers having a strong Cibil scores. (PTI)
• Allahabad Bank: Public sector lender slashed its benchmark lending rate by 0.85 percent in line with market competition. (PTI)

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