Stocks To Watch: Wockhardt, Tata Coffee, Granules India, Sun Pharma And More

The Nifty futures on the Singapore Stock Exchange, an early indicator of Nifty’s performance in India, fell 0.1 percent to 8,114.

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

Wockhardt

• U.K. MHRA confirms that company’s Chikalthana unit is in compliance with guidelines of good manufacturing practices.
• U.K. MHRA has considered the Chikalthana unit suitable for risk-based inspection.
• Inspection frequency reduced to two years from the existing one year.
• Stock down 55.47 percent year-to-date.

IL&FS Transportation Networks

• GRICL Rail Bridge Development Company Ltd., a wholly-owned subsidiary and SPV has tied-up with a consortium of banks.
• Tie-up for financing of Rs 188 crore to complete the project on annuity basis.
• Project has a concession period of 17.5 years and an estimated cost of Rs 250.85 crore.
• The semi-annual annuity payable will be Rs 21.99 crore for a period of 15 years.

TV Today Network

• Decides to re-organise the radio business.
• Proposal to migrate from phase-II to phase-III has been approved.
• Migration fee involves a capital expenditure of Rs 71.37 crore excluding other charges and will be completed in three months.
• Cancelled its agreement to sell the radio business.

Tata Coffee

• Announces plans to set-up freeze dried coffee plant in Vietnam.
• Plant to have an installed capacity of 5,000 million tonnes per annum.
• Task to be completed via a subsidiary which is to be incorporated.
• Cost of the project is estimated at Rs 350 crore.

Here are some of the other stocks in focus:

• Granules India: Granules OmniChem facility, a joint venture company of Granules India and Ajinomoto OmniChem, has completed its U.S. FDA inspection with seven observations.
• Opto Circuits: Company and subsidiaries have received orders worth Rs 91 crore from Phillips Healthcare for various products manufactured by the group.
• Borosil Glass Works: Receives a total compensation amounting to Rs 92 crore for surrendering the vacant land in Mumbai. The amount will be counted as income for the quarter ending December 30.
• Hinduja Ventures: Shareholders approve increase in limit for making investments along with giving loans and guarantees up to Rs 2,000 crore.
• Siyaram Silk Mills: Bombay High Court approves scheme of amalgamation of Balkrishna Synthetics Ltd. with the company.
• Confidence Petroleum: Board of Directors did not accept the draft buyback plans.
• Mandhana Retail Ventures: Promoter group sold 5.34 percent in an off-market transaction on December 14.
• Adani Enterprises: Promoters pledge an additional 27.14 lakh shares, increasing the total pledged shareholding to 18.49 percent of the total share capital.
• Adani Ports & SEZ: Promoters release pledge on 21.55 lakh shares. Total pledged shareholding now stands at 17.76 percent of the total share capital.
• KEI Industries: Signs a foreign technical collaboration agreement with M/s Brugg Kabel AG to manufacture extra high voltage cables above 220 kV and upto 400 kV at its manufacturing facility in Rajasthan.
• Dishman Pharma: Gujarat High Court passes scheme of amalgamation amongst Dishman Pharmaceuticals, Carbogen Amcis (India) and Dishman Care.
• Sarda Energy: Undertakes a planned shutdown of one of the three power generating units for replacement of old turbine and new turbine, New turbine to be supplied by BHEL before the end of FY17.

Media Reports

SAIL

• In talks with Japan’s Nippon Steel & Sumitomo Metal Corp. and Kobe Steel Ltd. for potential technical agreements.
• May also consider buying troubled domestic steel firm assets if offered at 'cheaper price'
• Plans to raise output of saleable steel in the year starting April 2017 by about 10 percent to 16.5 million tonnes.

(Reuters)

• Jindal Steel And Power: Lines up additional investment of Rs 8,000 crore for its Odisha operations. (Business Standard)

Aditya Birla Retail

• To focus on food and groceries business
• Plans to make the business bigger than the conglomerate’s apparel business
• Could add 30-40 supermarkets or even more next year

(Mint)

• IL&FS Transportation Networks: Aims to reduce interest costs, lower debt equity ratio and make its projects debt-sustainable in the next 18 months. (Business Standard)
• Spicejet: Budget carrier announces heavily discounted fares, starting at Rs 3,111 inclusive of all taxes and fee, for its international flights for a limited period. (Mint)
• Sun Pharma: U.S. FDA withdraws approval of 28 drugs after the company stops in marketing. (Business Standard)