Stocks To Watch: Dilip Buildcon, L&T, Vardhman Textiles, ONGC And More

The Nifty Futures on the Singapore Exchange, an early indicator of Nifty performance in India, dropped 0.5 percent to 8,790.

Here are the stocks to watch for today’s trade:

• Vardhman Textiles: Board approved a buyback of 61.27 lakh equity shares for Rs 1,175 each.
  
• Welspun India: Secures an “Interactive Textile Article and Augmented Realty” patent, protecting its new line of products.
• Dilip Buildcon: Bagged two road construction orders worth Rs 613.08 crore and Rs 350 crore by the NHAI and the Ministry of Road Transport and Highways.
  
• NHPC: The company’s offer for sale kept on hold owing to ‘technical reasons’.
• Smartlink Network System: Entered into an agreement with two of its fully-owned subsidiaries to transfer marketing and manufacturing business operations of IT products through a slump sale.
  
• Suprajit Engineering: Creditors approved the merger of the the company with Phoenix Lamps in a court convened meeting.

• Dena Bank: To issue bonds worth Rs 1,100 crore through private placement.
  
• Canara Bank: Board approves right issue worth Rs 1,128 crore. The company will issue medium term notes worth $500 million in the international markets.
• HDFC: Postal ballot results over Non-compete fee to be declared tomorrow.

Media Reports

• Reliance Industries: Accuses Cellular Operators Association of India to be biased against Bharti Airtel (Economic Times)
• L&T: Unit eyes Rs 9,000 crore orders in 3 years, mostly from Navy (Business Standard)
• Cairn India: To spend $150 million on 10 exploratory wells in Andhra Pradesh (Business Standard)
• ABG Shipyard: Company’s lenders hire Rothschild to find a buyer (Economic Times)

• Tata Steel: Company set for trade union talks in U.K. (Business Standard)
• Rashtriya Chemicals & Fertilizers: Partners with FALAT to set up 1.3 million tonne urea plant in Iran (Business Standard)
• ONGC: Gas from deepwater eastern offshore block may be viable at $5-6 per million British thermal units (Mint)
  
• HPCL: To start global oil trading desk (Mint)
  
• Mahindra CIE: Scouting for more acquisitions (Mint)
  
• Patanjali: Company’s Rs 1,600 crore food park coming up in Uttar Pradesh (Business Standard)

AGM to Watch

• Indiabulls Real Estate:To issue NCDs and other hybrid instruments worth Rs 7,500 crore.
  
• Omkar Specialty Chemicals: The approve pending mergers and demergers.
  
• Mahanagar Gas
  
• Godfrey Phillips India

IPO Watch

• HPL Electric & Power subscribed 29 percent on Day 2.
  
• GNA Axles to list today; subscribed 54.88 times during IPO. Issue price fixed at Rs 207 per share.