Stocks To Watch: Kotak Mahindra Bank, Dr. Reddy’s Labs, Eros International

The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, dropped 0.6 percent at 8,903.

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

Kotak Mahindra Bank

• Uday Kotak sells 27.6 million shares or 1.5 percent of his stake to Canadian pension fund manager Caisse de Depot et Placement du Quebec (CDPQ)
• Sale done at Rs 817 per share
• Sale reduces Kotak's stake in the bank to 32.1 percent, closer to the RBI's directive of reducing stake to 30 percent before the end of June

Also Read: Banking Tycoon Cuts Kotak Stake Through Sale to Canada Funds

Dr Reddy's Labs

• U.S. FDA completes inspection of the formulation manufacturing facility in Duvvuda, Visakhapatnam
• Issues Form 483 with 13 observations.

Welspun Enterprises

• Completes sale of company's investments in Welspun Energy
• Sold 15.49 percent in the paid-up equity share capital of Welspun Energy Pvt. Ltd. at a consideration of Rs 285.8 crore
• Further consideration depends upon occurrence of certain future events.

Shree Renuka Sugar

• Approves allotment of 1.64 crore equity shares of face value of Re 1 each at a price of Rs 16.56 per equity share aggregating to Rs 27.21 crore to one of the JLF lenders Standard Chartered Bank
• Allotment done upon conversion of loans
• Paid-up share capital of the company increases from Rs 92.88 crore to Rs 94.52 crore

• Bombay Burmah: To consider proposal for issue of secured, listed, redeemable, Non-Convertible Debentures up to Rs 150 crore on a private placement basis.
• Bharat Financial Inclusion: Clarifies on reports of merger with IndusInd Bank, calling it speculative in nature, adding that it keeps exploring various options from time to time
• Omkar Speciality Chemicals: Promoters release 15.2 lakh pledged shares, representing 7.43 percent of the total capital.
• Reliance Capital: To raise Rs 25 crore via NCDs
• Indiabulls Housing Finance: Allots secured, redeemable, Non-Convertible debentures worth Rs 495 crore on a private placement basis.
• Aditya Birla Nuvo: Unsecured lenders to meet on April 10, 2017 with respect to the scheme of arrangement between AB Nuvo, Grasim Industries and Aditya Birla Financial Services
• Tamil Nadu Newsprint And Papers: Stops production in Paper Machine II in the Karur unit from March 7, 2017.
• Fortis Healthcare: VEMF-A buys 2.7 million equity shares for Rs 178.5
• Geometric: Reliance Mutual Fund bought 6.5 lakh equity shares for Rs 261.5

Media Reports

• IndusInd Bank: In advanced talks to take over Bharat Financial Inclusion in all stock transaction, valuing the latter at around Rs 12,000 crore. (Business Standard)
• Eros International: Withdraws bond issue. (Business Standard)
• HDFC: To raise Rs 2,000 crore via debentures. (PTI)
• Maruti Suzuki India: To go for four new product launches in 2017-18. (Financial Express)
• United Spirits: Pins hopes on brand relaunches will help it regain market share. (Mint)
• ITC: Not looking to generate shareholder returns from the healthcare venture. (Mint)
• Dish TV: CCI seeks TRAI's view on merger between Dish TV and Videocon D2H. (Mint)

IPO Corner

• Avenue Supermarts IPO oversubscribed 1.36 times on Day 1
• Music Broadcast IPO oversubscribed 39.45 times on last day