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Stocks To Watch: Bharti Airtel, NTPC, Ujaas Energy And More
SGX Nifty indicates a sluggish start to Indian equities.
23 Feb 2017, 08:51 AM IST 
A trader uses a telephone as he sits below an electric stock board while working on the floor of the Colombo Stock Exchange in the central business district of Colombo, Sri Lanka (Photographer: Kuni Takahashi/Bloomberg)
The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, was little changed at 8,930.
Here are the stocks to watch out for in today’s session:
Bharti Airtel
- Signs agreement to take ownership of Telenor’s India operations
- To acquire Telenor India’s running operations in seven circles namely Andhra Pradesh, Bihar, Maharashtra, Gujarat, Uttar Pradesh (East), Uttar Pradesh (West) and Assam
- Proposed acquisition to include transfer of all of Telenor India’s assets and customers. Will also add 43.4 MHz of spectrum in the 1,800 MHz brand.
- Telenor’s operations will continue as normal till the completion of the deal.
NTPC
- Commissions 115 out of the 260 MW of Bhadla Solar Power Project
- Installed capacity of NTPC's solar power projects now at 475 MW
- Total installed capacity on a standalone basis now at 41,177 MW while that on a consolidated basis is at 48,143 MW
Bharti Airtel
- Acquires strategic stake in financial technology startup Seynse Technologies for the purpose of strategic investment
- Acquisition to be funded by cash
- Financial details remain undisclosed
- Seynse, creator of a digital lending platform 'Loan Singh' posted a revenue of Rs 6.53 lakhs in FY16
Asian Oilfield Services
- Wholly-owned subsidiary Asian Oilfield & Energy Services DMCC, Dubai signs a new contract
- Contract for providing operations and maintainence services for an offshore production units operating at EBOK field offshore Nigeria
- Total value of the contract is about $95 million for a total period of five years
- Earlier contract was for a period of three years for $57 million
Hindustan Organic Chemicals
- Seeks shareholder approval to sell 442-acre land in Maharashtra to Bharat Petroleum Corporation Ltd. at Rs 1.4 crore per acre
- Total consideration to be around Rs 619 crore
- Company to utilise the funds for payment of employee dues, loans and other charges
- Also seeking shareholder approval to divest entire 56.43 percent stake in Hindustan Fluorocarbons Ltd.
Ujaas Energy
- Joint Managing Director and Promoter Anurag Mundra sold 1.99 million shares at Rs 38.34 per share
- Shyam Sunder Mundra, Chairman and Managing Director sold 2.15 million shares at Rs 37.95 per share
- Both promoters together have sold 2.1 percent stake in the company
- Funds raised will be given to Ujaas Energy as loans and advances to explore future opportunities
Minda Industries
- Enters into a joint venture agreement with Katolec Corporation, Japan
- JV to be named Minda Katolec Electronics Services Pvt. Ltd.
- Minda to hold 51 percent of the JV
- Proposed JV company to be setup in Pune, Maharashtra
- JV to manufacture Printed Circuit Boards and Box Build Assemblies
- Initial investment outlay of Rs 40 crore
- GAIL (India): Fixes March 11, 2017 for the purpose of bonus issue
- Ruchi Soya: Company says that the Insolvency and Bankruptcy application was filed by one of its unsecured creditors for a disputed amount of Rs 9.63 crore
- Adani Power: Allots 2.74 crore equity shares to promoter group entities upon partial conversion of the convertible warrants on a preferential basis
- Reliance Capital: Issues NCDs worth Rs 10 crore with an over subscription of Rs 20 crore
- Star Ferro and Cement: National Company Law Tribunal sanctions the scheme of amalgamation with Star Cement Ltd.
- Huhtamaki PPL: National Company Law Tribunal sanctions the scheme of arrangement of Positive Packaging Industries Ltd. and Webtech Labels Private Ltd. with the company.
- Coffee Day Enterprises: Step-down subsidiary Alphgrep Holding HK Ltd. has divested 40.5 percent share in its subsidiary namely Lighthouse Financial Technologies Ltd. and its subsidiaries Lighthouse Financial HK Ltd. and Lighthouse Financial Trading Ltd.
- SRS Limited: Company sells its entire shareholding in its UAE-based wholly-owned subsidiary SRS Worldwide (FZC). SRS worldwide contributed Rs 385 crore to the consolidated revenue accounting for 9.35 percent
- Viaan Industries: To split stock in the ratio 1:10
- Swan Energy: To hold EGM on February 27, 2017 to pass a special resolution to issue 23.07 million equity shares at Rs 195 each taking the total consideration to Rs 450 crore to 2i Capital PCC
Media Reports
- HDFC Bank: FPI's can hold shares brought on Friday. (Economic Times)
- IDFC Bank: Lends Rs 675 crore for solar projects in Rajasthan. (Economic Times)
- Shriram EPC: Eyes a stake in Jyoti Structure where a group of 21 banks led by SBI is looking to sell a majority stake of 51 percent. (Financial Express)
- Aurobindo Pharma: U.S. arm recalls 47,070 bottles of Venlaxine Hydrocholride extended release capsules. (Financial Express)
- Lloyd Electric: Deal with havells to be closed in 6-8 months, management says. (Mint)
- Infosys: NSE, BSE, sought clarification on claims made in two anonymous emails on the Panaya deal. (Mint)
- Venus Remedies: Seeks shareholder nod to raise up to Rs 250 million via QIP. (Bloomberg)
Analyst Recommendations
- BILT Graphic Papers downgraded at India Ratings
- ITD Cementation: Cut to 'Sell' Anand Rathi Securities
- Havells India: Cut to 'Underperform' at Batlivala and Karani