Pedestrians Walk in Front of the National Stock Exchange Building in Mumbai (Photographer: Dhiraj Singh/Bloomberg)

Stocks To Watch: Syngene, Union Bank Of India, United Phosphorous And More

The Nifty futures on the Singapore Exchange, an early indicator of the Nifty performance in India, climbed 0.7 percent to 8,874.

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

  • Syngene: Closes deal with Strand Life Sciences to Purchase Systems Biology and Pharma Services Practice.
  • Union Bank of India: Acquires 49 percent stake in Union KBC Asset Management Company Pvt. Ltd. and Union KBC Trustee Company Pvt. Ltd.
  • Dr Reddy’s Labs: Promoter and promoter company acquire 0.044 percent stake or 73,000 shares in the open market.
  • Canara Bank: Sells 5,000 shares or 0.017 percent stake in Credit Analysis And Research Ltd. (CARE) in secondary market to reduce stake to 9.251 percent.
  • Godrej Properties: Adds a new residential project in Bengaluru of approximately 92,900 sq.mt.
  • Raymond: Unlisted subsidiary Ring Plus Aqua Ltd., will sell its stake in Rose Engineered Products India Pvt. Ltd. (REPIPL) to Neel Metals Products Ltd. for Rs 20.19 crore.
  • IDBI Bank: Sells 1.5 percent stake (6.75 lakh equity shares) in National Stock Exchange to TIMF Holdings.
  • United Phosphorus (UPL): Sells entire 50 percent stake in JV United Phosphorus (Bangladesh) Ltd. for $3,28,816. to UPL Corporation Ltd.
  • Gujarat Narmada Valley Fertilizers and Chemicals: Signs joint venture (JV) Agreement with Santosh Agrochem LLP for setting up a 345 MTPD purified wet lime project in a phased manner at Bharuch at a cost of Rs 50 crore.
  • Sadbhav Infrastructure: NCDs worth Rs 300 crore assigned ‘CARE A+’ rating by CARE Ratings.
  • INOX Leisure: Gets RBI approval for increasing RFPI stake to 49 percent from current 24 percent.
  • Capri Global Capital: To consider issue of NCDs on private placement and stock split on October 8, 2016.
  • Byke Hospitality: Gets long-term lease for hotels in Mumbai and Jaipur.
  • Everonn Education: Madras court appoints a liquidator to take possession of all assets of the company due to winding up solution filed by Hewlett Packard Financial Services Pvt. Ltd.
  • HDFC: Submits a copy of a term sheet dated September 20, 2016 for issue of secured redeemable non-convertible debentures under Series Q-006 to BSE.
  • TCS: Recognized for leading CSR practices.
  • BEML: Wins national quality award.
  • Edelweiss Financial Services: CRISIL has assigned rating of ‘CRISIL A1+’ to the proposed Short-term debt issue of Rs 30 billion.
  • ABG Shipyard: Shareholders vote against three special resolutions:

*Issue of securities of Rs 2,000 crore.

*Issue of equity shares to promoters for Rs 300 crore.

*Issue of equity shares to CDR lenders for outstanding loans up to Rs 16,397.5 crore.

  • Pratibha Industries: Board of Directors approve increase in the authorized share capital from Rs 40 crore to Rs 70 crore .

Media Reports:

  • Nestle: To launch premium chocolates to challenge Ferrero and Mondelez. (Economic Times)
  • Future Group: Group acquires Sangam Direct Chain via lease transfer instead of cash transaction. (Economic Times)
  • Jet Airways: Plans to resume flights to the U.S. (Business Standard)
  • Suzlon: Looking to raise $3 billion for Australian wind farms. (Business Standard)
  • SAIL: JV with Arcelor to be finalised by December (Financial Express)
  • Raymond: To enter ethnic wear, footwear categories. (Financial Express)
  • Tata Motors: Jaguar Land Rover (JLR) launched all new Jaguar XF priced between Rs 49.50-62.10 lakh (PTI)
  • Reliance Defence and Engineering: In talks with Indian Coast Guard to finalise a long-pending Rs 920 crore contract for 14 Fast Patrol Vessels. (PTI)
  • Aurobindo/Cadila: Recall drugs from the U.S. markets (PTI)

IPO Watch:

  • HPL Electric: IPO opens today; to close on September 26, 2016.

*Price band between Rs 175-202 per share.

  • ICICI Prudential Life: IPO subscribed 10.47 times on final day.

*QIB: 11.83x

*NII: 28.55x

*Retail: 1.40x

*Shareholders: 12.2x

AGMs To Watch:

  • NHPC: To issue NCDs worth Rs 4,500 crore on private placement basis.
  • Chambal Fertilisers and Chemicals: To issue NCDs worth Rs 500 crore on private placement basis.
  • Repco Home Finance: To issue NCDs worth Rs 2,000 crore and commercial paper worth Rs 500 crore on private placement basis.
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