Stocks To Watch: Welspun India, Marico, Kotak Mahindra Bank

The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, fell 0.2 percent to 9,153.

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

NTPC

• Commences operations in the 195 MW Kanti Thermal Power Station's Unit 1
• Also commenced 25 MW of Bhadla Solar Power Project
• Commercial capacity of NTPC now stands at 47,033 MW
• Installed capacity of NTPC on a standalone basis is 41,4247 MW

Ajanta Phrama

• Board of Directors approve amalgamation of Gabs Investments Pvt. Ltd.
• Amalgamation to be done in the consideration of 83,92,262 shares of Ajanta Pharma Ltd.
• Promoter shareholding to remain unchanged post amalgamation
• Gabs had a revenue of Rs 11.88 crore for the year ended March 31, 2016

Marico

• To acquire 45 percent stake in Zed Lifestyle, a male grooming brand
• To complete acquisition by 2019

Welspun India

• Forays into new technologies in its technical textile business
• Commences operations at the state-of-the-art Needle Entangled Advance Textile plant in Anjar
• The Rs 150 crore facility can manufacture multi-layer composites for various applications
• Also invested Rs 100 crore to set up a state-of the-art fully automated cut and sew unit in the made-ups segment

• Allahabad Bank: Raises Rs 300 crore via private placement of AT-1 bonds with an additional green shoe option of Rs 100 crore at an annual coupon rate of 11.15 per annum.
• Dena Bank: Government of India makes a capital allocation of Rs 600 crore as a part of its turnaround linked infusion plan. Board has also approved raising of capital of the bank through issue of equity shares to the Government of India
• GTL Infra: Gets shareholder approval to issue shares to secured lenders and restructure existing FCCBs issued by the company. Post this, the company would merge itself with Chennai Network Infra.
• Indiabulls Real Estate: To issue debentures via private placement method for a tenor of 13 months on March 22, 2017.
• Havells India: To issue commercial paper to Yes Bank for Rs 150 crore at a coupon rate of 6.40 percent for a period of 88 days
• Future Lifestyle: Incorporates wholly-owned subsidiary FLFL Lifestyle Brands for an authorised capital of Rs 5 lakh.
• Adani Power: Allots 2.14 crore equity shares of Rs 10 each upon partial conversion of the convertible warrants as earlier issued and allotted on a preferential basis to Promoter Group. Promoter shareholding to increase to 67.75 percent of the enhanced paid up capital.
• Apar Industries: Templeton Strategic Emerging Market Fund III LDC sells 36,36,363 shares or 9.44 percent equity stake at Rs 706.65.
• Punj Lloyd: Vanguard Public Funds Ltd. Co. sells 26,67,971 shares or 0.8 percent of eqity at Rs 20.3.

Media Reports

• Kotak Mahindra Bank: Seeks nod to raise foreign investment limit. (Business Standard)
• SAIL: To resolve differences with ArcelorMittal before May. (Business Standard)
• ONGC: Set to invest Rs 30,000 crore in FY18. (Financial Express)
• ITC: Shareholders approve plans to enter healthcare business. (Financial Express)
• Kotak Mahindra Bank: Oman India Joint Investment fund sells its entire stake in Kotak Mahindra Bank for over Rs 120 crore. (Mint)
• Idea Cellular: Vodafone CEO arrives in Mumbai this week to sort key issues related to the merger and to bolster staff morale. (Economic Times)
• Reliance Industries: To spend a further Rs 2,500 crore to scale up its retail operations. (Business Standard)
• Ashok Leyland: Plans to set up a facility in Jharkhand. (Business Standard)
• United Bank of India: Gets capital infusion of Rs 418 crore. (Hindu Business Line)