Stocks To Watch: GAIL, Welspun India, Oil Marketing Companies And More

The Nifty Futures on the Singapore Exchange, an early indicator of Nifty’s performance in India, gained 1.1 percent to 8,205.

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

• Wipro: Partners with ASG Technologies to offer enterprise data intelligence solution to enable financial services compliance.
• Tata Global Beverages: Seven out of 10 directors of the company voted in favour of the resolution to replace Cyrus Mistry with Harish Bhat as chairman of the company

Also Read: Removal From Tata Global Beverages Illegal, Says Ousted Chairman Mistry

• Navin Flourine International: Included in the MSCI Domestic Small Cap index.
• Smartlink Network Systems: Invests almost Rs 40 crore in two wholly-owned subsidiaries. The two subsidiaries, Digisol and Synegra to pay Rs 19 crore and Rs 3.3 crore as lump-sum consideration towards slump sale.
• VA Tech Wabag: Associate company International Water Treatment LLC, Oman, awarded $28 million for an arbitration against Muscat City Desalination Company.
• MOIL: Expecting a refund of Rs 20 crore, which will be adjusted against further bills in the electricity duty case of Ferro Manganese Plant in Madhya Pradesh.
• Wheels India: Enters into a technology transfer agreement with FLUITECNIK, S. A. Spain for the manufacture of hydraulic components for supply to windmill manufactures in India.
• JK Paper: FCCB holders worth 6.5 billion euros, seek conversion into 74 lakh equity shares.
• Hinduja Ventures: Seeking shareholder approval to increase limit for making investments, giving loans and guarantees up to Rs 2,000 crore.
• DCB Bank: Receives Rs 677 crore of deposits in CASA post demonetisation.
• Pritish Nandy Communications: Receives an award of Rs 3.52 crore in the arbitration case filed against White Feather Films. Bombay High Court has allowed interim stay provided White Feather deposits sum of Rs 3 crore in the court before December 26, 2016.
• ABB India: Wins order to supply 1,600 traction transformers for 800 new electric freight locomotives in India.
• JM Financial: Subsidiary acquires 19.9 lakh shares or 17.53 percent stake in India Home Loan Ltd., It will also acquire a further 6.97 percent. The cost of acquisition will be Rs 12.75 crore.
• Sundaram Multi Pap: Floor price to be Rs 4.3 per equity shares for QIP issue.
• Balrampur Chini Mills: Approves buy back of 1 crore equity shares at a price of Rs 175 crore.
• Indian Oil Corporation: Cuts diesel prices by Rs 1.53 per litre, petrol prices by Rs 1.46 per litre.

Media Reports

• Tata Steel: FIIs object to crossholdings within group. Tell independent directors to avoid such holdings. (Economic Times)
• HDFC: Backs Rs 1,000 crore retirement township project. (Financial Express)
• ONGC: ONGC Videsh plans to bid for oil and gas blocks in Columbia. (Financial Express)
• Kotak Mahindra Bank: Cuts 1-year fixed deposit rate to 7 percent. (Financial Express)
• Navneet Education: To buyback 46.5 lakh equity shares at a price of Rs 125 per share. (Financial Express)
• Oil India, BPCL: To issue bonds worth $750 million to fund Russian acquisition. (Mint)
• Welspun: Company cites supply chain issues for Egyptian cotton controversy. (Mint)
• Jet Airways: Expands codeshare pact with Kenya Airways. (PTI)

Earnings Reactions To Watch

• GAIL

• Vardhman Textiles
• PNB Housing Finance
• Uttam Galva Steels
• Tata Global Beverages
• Shree Renuka Sugars
• Container Corporation of India
• ELGI Equipments
• Sadbhav Infra Projects

Earnings To Watch Today

• Indraprastha Gas
• Engineers India
• Ramco Industries
• Shipping Corporation Of India
• Voltas