Stocks To Watch: Tech Mahindra, DEN Networks, PNC Infratech, Geometric

The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, was little changed at 8,971.

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

Tech Mahindra

• To acquire 84.7 percent stake in U.S. based healthcare I.T. services and consulting firm CJS solutions Group LLC
• Acquition for an all-cash deal of $89.5 million
• Will acquire the remaining 15.3 percent stake in the company over a period of three years
• Remaining stake to be acquired for a contingent consideration of a maximum of $130.5 million payable in the calender years 2018, 2019 and 2020.
• Transaction expected to close before April 2017

PNC Infratech

• Bags hybrid annuity highway project worth Rs 1,434 crore
• Emerges as lowest bidder for six laning of Chitradurga-Davanagere including Chitradurge Bypass
• Project has a construction period of 2.5 years and operation period of 15 years

DEN Networks

• Enters into an agreement with subsidiary DEN Digital Cable Network Pvt. Ltd.
• Agreement to increase equity stake in DDCN from 51 percent to 88.57 percent
• Company has purchased 37.57 percent stake from existing shareholders for Rs 4.6 crore
• Agreement to help consolidate the cable business of the company in Haryana

Mangalore Chemicals & Fertilizers

• Completes the reassessed capacity of urea production for FY17
• Also carrying out annual maintenance of its plants
• Company has shutdown its Ammonia, Urea and ABC plants from March 3, 2017

• Coal India: Approves interim dividend of Rs 18.75 for financial year 2016-17. Government likely to get Rs 9,200 crore from the total interim dividend payout.
• Infibeam Incorporation: Allots one warrant of 4.36 lakh convertible equity shares on preferential basis for an amount not exceeding Rs 60 crore to a body other than the promoter and promoter group on a preferential basis at a conversion price of Rs 1,375.
• Bombay Burmah Trading Company: Finance Committee of the Board of Directors propose to acquire additional shares in The Bombay Dyeing & Manufacturing Company Ltd. directly or through its wholly owned overseas subsidiary.
• Bank of Maharashtra: Leaves Marginal Cost of Funds based Lending Rates (MCLR) unchanged with effect from March 7, 2017.
• Bharat Electronics: Fixes March 17, 2017 as record date for determining the eligibility of shareholders with regard to Sub-division of equity shares of the company.
• Geometric: BNP Paribas Arbitrate buys 4.1 lakh (0.62 percent) equity shares at Rs 263.05 per share while Morgan Stanley Company International bought 4.26 lakh (0.65 percent) equity shares at Rs 263.05 per share.
• Thomas Cook India: Launches “Theme Park Tours” with a strategic focus on children.

Media Reports

From PTI

• Punjab National Bank: Puts up bad loans worth Rs 295 crore on sale
• Tata Steel: In constructive discussions with Thyssenkrupp
• Jet Airways: Ties up with Fiji Airways for code share flights
• IDFC: To buy Natixis stake in a Mutual Fund unit for Rs 244 crore
• SBI: Government asks the bank to reconsider minimum balance penalty

• Videocon: D2H unit signs partnership with NETFLIX for smart HD connect. (Bloomberg)
• Arfin India: Wins order worth Rs 107 crore from JSW Steel. (Bloomberg)