Stocks To Watch: Reliance Industries, Coal India, Oil Refiners And More

The Nifty futures on the Singapore Stock Exchange, an early indicator of Nifty’s performance in India, fell 0.3 percent to 8,398.

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

Coal India

• Unit Bharat Coking Coal increases coking coal prices by about 20 percent
• Coal India will earn additional revenue of Rs 702 crore for balance period of FY16-17 due to price revision

Jindal Stainless

• To raise Rs 895 crore from 31 lenders on preferential basis
• To raise Rs 75 crore from Virtuous Tradecorp Pvt Ltd., a promoter group entity
• To raise Rs 425 crore from promoter group companies

Pokarna

• Raises capacity of unit Pokarna Engineered Stone
• Plans to expand quartz surfaces production capacity by 130 percent with investment of Rs 325 crore
• Board has approved extending corporate guarantee for the loan facilities

• Sical Logistics: Company gets contract worth Rs 304.92 crore for excavation of northern coal fields at Madhya Pradesh.
• Axis Bank: Lender cuts one-year benchmark lending rates by 65 basis points to 8.25 percent.
• IFCI: State-owned development bank lowered its one-year benchmark by 75 basis points to 10.75 percent.
• Tata Steel: The Nomination & Remuneration Committee unanimously recommended the induction of N. Chandrasekaran as a member of the board.
• Network 18 Media & Investments: Company approved the scheme of amalgamating 14 of its wholly-owned subsidiaries.
• TV18 Broadcast: Company approved the scheme of amalgamating four of its wholly-owned subsidiaries.
• Reliance Defence & Engineering: Company appointed Kartik Subramaniam as the chief executive officer.
• Jain Irrigation Systems: Unit Jain International Trading B.V. to issue unsecured senior notes worth $200 million.
• Oil Refiners: State oil companies have raised the prices of petrol by 42 paise/litre and diesel by Rs 1.03/litre after the fortnightly review to align local prices with international rates.

Also Read: Bank Of America Merrill Lynch Pegs Sensex Target At 29,000 For 2017

Media Reports

Reliance Industries

• Company to raise Rs 30,000 crore for unit Reliance Jio’s expansion
• Company will raise funds through a rights issue of optionally convertible preference shares

(Economic Times)

Fortis Healthcare, Fortis Malar Hospitals

• Private equity fund TPG has offered close to Rs 3,000 crore for 26 percent stake in Fortis Healthcare.
• TPG has also offered Rs 1,500 crore for a stake in SRL Diagnostics and Fortis Malar

(Mint)

• Tata Steel, Jindal Steel: India has imposed anti-dumping duties on colour-coated or pre-painted flat products of alloy or non-alloy steel imported into the country, a government notification said on Friday. (Reuters)
• JSW Cement: Company set to increase its cement manufacturing capacity from current 1.0 million tonnes/year to 3.4 million tonnes/year at its Bellary plant. (PTI)
• Jagran Prakashan, HT Media: The government is considering a proposal to increase foreign direct investment limit in print media sector to 49 percent from 26 percent at present. (PTI)
• Tata Steel: Company in talks with stakeholders to cut its UK pension benefits and end its liability for the scheme, according to a statement from the trustees of its British Steel Pension Scheme. (Reuters)
• NTPC: Company to pay Rs 700 crore to Rajasthan government for its stake in the 1,000 megawatt Chhabra power plant. (Mint)
• Tata Teleservices: C. Sivasankaran, the Seychelles-based businessman who has been at loggerheads with Tata Sons Ltd regarding his investment in Tata Teleservices, is exploring an amicable settlement with the Tata group holding company. (Mint)
• IDFC Ltd: Unit IDFC Alternatives to acquire two road projects from GR Infraprojects for Rs 350 crore. (Mint)
• Hindustan Petroleum Corp: State-run oil refiner is in talks with six foreign suppliers to source liquefied natural gas for its Rs5,400 crore LNG terminal coming up at the Chhara Port in Gujarat. (Mint)
• State Bank of India: State General Reserve Fund of Oman and the State Bank of India will infuse $150 million and $50 million respectively in private equity fund Oman India Joint Investment Fund. (Business Standard)

Data To Watch

• India December exports rise 5.7 percent year-on-year
• India December imports rise 0.5 percent year-on-year
• India December trade balance -$10.369 billion

IPO Watch

• BSE Ltd: Company has scheduled its initial public offering for 23-25 January, according to a filing by India’s second biggest stock exchange. Investment bankers said the BSE IPO could raise around Rs 1,350 crore. (Reuters)

Earnings Preview

Reliance Industries

• Company expected to report its highest third quarterly sequential revenue growth in four years
• Gross refining margins is seen around $11 per barrel

More Earnings To Watch

• Dewan Housing Finance Corp
• LIC Housing Finance