Stocks To Watch: Glenmark Pharma, Siemens, Gammon India And More

The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, was little changed at 8,886.

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

Glenmark Pharmaceuticals

• Receives four observations via form 483 from the U.S. FDA on its Ankleshwar plant
• FDA inspected the plant in December 2016
• Company responded to the observations in January 2017
• No outstanding item currently with the U.S. FDA regarding the Ankleshwar plant

Ambuja Cement

• Q4 net profit Rises 59.6 percent to Rs 175.8 crore, beats street estimates
• Net sales declined 6.7 percent to Rs 2,196.6 crore
• EBITDA per tonne increased 8.4 percent year-on-year to Rs 658.1
• EBITDA margins expanded 100 basis points to 14.7 percent year-on-year

Tata Consultancy Services

• Appoints V Ramakrishnan as chief financial officer
• Rajesh Gopinathan to be elevated as chief executive officer and managing director
• N. Ganapathy Subramaniam will takeover as chief operating officer
• N Chandrasekaran will take charge as non-executive chairman

Siemens

• Wins an order worth Rs 297 crore jointly with S.A.U Spain
• Siemens' share in the deal totals to Rs 146 crore
• To supply state-of-the-art signalling technology for the first two lines of the Nagpur Metro

Rural Electrification Corporation

• Enters into memorandum of understanding with Jharkhand Bijli Vitran Nigam Ltd. (JBVNL) and Jharkhand Urja Sancharan Nigam Ltd. for extending financial assistance to the tune of Rs 15,150 crore
• Share of JBVNL in the MoU amounts to Rs 8,150 crore
• Share of JUSNL amounts to Rs 7,000 crore

McNally Bharat

• Seeks shareholder approval to raise authorised share capital
• To issue 41.66 million compulsorily convertible preference shares to Williamson Magor & Co Ltd., Williamson Financial Services Ltd. and Babcock Borsig Ltd., promoter and promoter group companies, for Rs 66 per share for part conversion of outstanding unsecured loan.
• To also issue 41.62 million compulsorily convertible preference shares to equity shareholders and certain debenture holders of Vedica Sanjeevani Projects Private Limited on a preferential basis for Rs 66 towards consideration for acquisition of 60 percent of equity shareholding of Vedica.

Gammon India

• Board of directors permit wholly-owned subsidiary Gammon Power Ltd. to sell 26.06 percent stake in Gammon Infrastructure Projects
• Board has also expressed intentions to acquire 20 percent of the equity shares of Gammon Infrastructure at market price
• Transaction is subject to approval from shareholders, lenders and regulators

• State Bank of Travancore, Indian Bank, Punjab National Bank: United Forum of Bank Unions has served a notice to go on strike on February 28, 2017
• Bharat Rasayan: Issues commercial paper worth Rs 12.50 crore
• Karnataka Bank: Enters into an agreement with M/s Daimler India Commercial Vehicles for extending facilities to customers purchasing vehicles manufactured by the company
• Ashoka Buildcon: Wholly-owned subsidiary, Viva Highways Ltd.’s, toll rights have been taken over by Madhya Pradesh Road Development Corporation, Bhopal on the expiry of concession period from February 18, 2017 as per the terms of the concession agreement.
• Varun Beverages: Board approves issue of NCDs up to Rs 300 crore
• Lypsa Gems & Jewel: Nomura Singapore bought 1,25,000 shares at Rs 68
• Umang Diaries: Promoter bought additional 10,50,000 shares in the company at Rs 74.25

Media Reports

• Britannia: May enter into a JV with Greek baker Chipita. (Economic Times)
• Eveready Industries: To reorganise packet tea business. (Economic Times)
• Granules India: Private lending arm of World Bank, International Finance Corporation to provide a loan of Rs 318 crore to the company. (Mint)
• Kanoria Chemicals: To raise Rs 300 crore from Piramal Fund Management to refinance a part of its debt. (Mint)
• Ruchi Soya Industries: Served insolvency notice. (Mint)
• Infosys: To probe whistle blower charges. (Business Standard)
• IDBI Bank: Privatisation back on government's agenda. (Business Standard)
• Tata Power: Eyes stake in renewable power arm. Looking at three options to raise Rs 3,500 crore to reduce its debt worth Rs 42,000 crore. (Business Standard)
• Max Financial: Goldman Sachs Subsidiary GS Mace To Sell 1 Crore Shares At Floor Price Of Rs 550/Share (Bloomberg)