Stocks To Watch: Welspun Enterprises, Suzlon Energy, Wipro And More

The Nifty futures on the Singapore Stock Exchange, an early indicator of Nifty’s performance in India, fell 0.2 percent to 7,978.

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

Welspun Enterprises

• Company approves buyback of 4.35 crore equity shares.
• Shares represent 25 percent of the total paid up equity capital of the company.
• Price for the buyback fixed at Rs 62 per share.
• Total buyback amount stands at Rs 269.76 crore.
• Company has cash worth Rs 173.48 crore and liquid investment of Rs 655.33 crore as of September 30, 2016.
• Stock has a negative 4.1 percent return in 2016.

Suzlon Energy

• Enters into a shareholders’ agreement with AMP Solar India and Rudra Solarfarms.
• Agreement to setup a solar power project under Rudra, which is a wholly-owned subsidiary of Suzlon and its subsequent sale.
• AMP would first acquire 49 percent stake in Rudra for Rs 14 crore and will have the option to acquire the balance 51 percent stake within one year from the date of commencing commercial operations.
• The project is expected to be commissioned by the end of FY2017.
• Project is part of the 25 years power purchase agreement with a tariff of Rs 5.599/kWh.

Hinduja Ventures

• Board of Directors approve divestment of 4.36 crore shares in Hinduja Energy (India) Ltd.
• As per independent valuations, the price of one share is Rs 31.58.
• Board of directors also approved to subscribe to rights issue of 16.5 lakh equity shares of Hinduja Leyland Finance Ltd. for Rs 79 per share.
• To also acquire 11,394 equity shares of Hinduja Leyland Finance Ltd. for Rs 79.
• Post this acquisition, Hinduja Ventures Ltd. will hold 5.23 percent in Hinduja Leyland Finance Ltd.

Here are some of the other stocks in focus:

• Tata Metaliks: Effective date of amalgamation of Tata Metaliks DI Pipes Ltd. with the company was December 22.
• Voltamp Transformers: Suspends operations in Savli factory from December 21 after reports of acts of violence by a few contract workmen with the production supervisors.
• Thomas Cook (India): Company’s wholly-owned subsidiary amalgamated.
• Aurionpro Solutions: Goodpack selected Aurionpro’s supply chain management product suite, SCMPROFIT, to help them manage inventory positions and movement.
• Asian Oilfields Services: To hold its Extraordinary General Meeting on December 27, to consider and approve allotment of warrants.
• JK Paper: Decides to sell 20 percent of its holding in Oji India Packaging Pvt. Ltd. to Oji Holding Corporation.
• JSW Energy: To hold board meeting on December 27, to consider and approve raising of long term funds through issuance of NCDs by way of private placement.
• Mahindra and Mahindra Financial Services: To establish medium term note programme of Rs 5,000 crore.
• Apar Industries: Commenced commercial production of conductors in Odissa plant.
• McDowell Holdings: N Srinivasan resigns as director of the company.

Media Reports

Maruti Suzuki

• Maruti Suzuk and Hyundai Motor India, the country's top two car makers, are hopeful of meeting their annual production targets
• Two companies are likely to top their internal targets on the back of significant order backlog for some models.

Phoenix Mills

• Realty developer’s unit ISML enters into a non-binding pact with Canada Pension Plan Investment Board (CPPIB) to acquire up to 49 percent in ISML
• ISML expects to utilize the funds raised through this stake sale for business development and growth purposes

Strides Arcolab

• Private equity firm KKR plans to lend $100 to Strides Arcolab's promoters.

(Source: Economic Times)

• Shalby Hospitals: Hospital chain operator hires investment bankers for Rs500 crore IPO
• IPO could be a mix of primary and secondary share sale

(Mint)

• Essar Oil: India's largest private fuel retailer plans to double the number of petrol pumps it has in the country to 5,600 in 12-18 months. (PTI)
• Sun Petrochemicals: The company, owned by drugmaker Sun Pharmaceutical, signs purchase agreement with Niko Resources for Hazira field. (Business Standard)