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Stocks To Watch: Hero MotoCorp, IndusInd Bank, NBCC, Yes Bank
SGX Nifty indicates a positive start to Indian equities
30 Mar 2017, 08:23 AM IST 
Brokers watch their screens during trading hours inside a dealing room. (Photographer: Abhijit Bhatlekar/Bloomberg News)
The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, gained 0.3 percent to 9,169.
Here are the stocks to watch out for in today’s session:
Hero MotoCorp
Company issues a statement on transition to BS-IV
Company has been producing only BS-IV compliant products since one month before the given deadline and has also reduced BS-III inventory significantly in the past few months. However, environmental protection will take precedence over temporary financial benefits.Statement From Hero MotoCorp
Yes Bank
- Closed qualified institutional placement (QIP) issue on March 29
- Will allocate 3.27 crore shares to qualified institutional buyers (QIBs)‘s for Rs 1,500 each.
- Bank managed to raise Rs 4,907 crore from the QIP
- Public shareholding post this to increase to 79.78 percent from 78.22 percent
Alkem Laboratories
- U.S. FDA inspection comes to a close
- Company submits a corrective and preventive action plan (CAPA) to the regulator in response to the form 483
- U.S. FDA has reviewed the CAPA and has found it to be acceptable
Welspun Enterprises
- Adani Welspun Exploration Ltd. awarded the contract area B-9 cluster by the Government of India during small field bids round
- Area of the cluster is 183 square kilometre and comprises of three offshore fields B-9, B-7 and BRC
- Welspun Enterprises holds 35 percent stake in AWEL
Berger Paints
- British Paints division of the company has commenced commercial production of its paint and putty plant at Nalbari in Assam
- Plant has a capacity of 6,600 KL/MT per annum of solvent and water based paint
- Plant also has a capacity of 7,200 million tonne per annum of putty and distemper
NBCC (India)
- Cabinet approves proposal of restructuring Hindustan Steelworks Construction Ltd.
- To pay Rs 35.7 crore to the government for taking over 51 percent stake in HSCL
- HSCL had a turnover of Rs 1,413.02 crore and a net profit of Rs 30.19 crore in FY16
Minda Industries
- Sucessfully raises Rs 300 crore through QIP
- Initial size was of Rs 275 crore but due to oversubscription of 2 times, the company exercised a greenshoe option to increase it to Rs 300 crore
- QIP priced at Rs 423 per share
- Capital raised will be used for capital expenditure and consolidating the business
Shreyas Shipping And Logistics
- Promoter group company Transworld Holdings allotted 84.76 lakh shares for Rs 423.43 in Shreyas Relay Systems Ltd., a wholly-owned subsidiary
- The company received Rs 359 crore from the share allottment
- Company now holds 29.22 percent of the shareholding in Shreyas Relay Systems
Future Lifestyle Fashions
- Transfers its holding in various identified investee brands to its wholly-owned subsidiary FLFL Lifestyle Brands Ltd.
- Future Lifestyle Fashions will own 49 percent in the subsidiary post the transaction
- Rs 450 crore will be raised from other marquee investors
- Reliance Industries: Will complete transaction for the sale of its entire 76 percent stake in Gulf Africa Petroleum Corporation to TOTAL
- TCS: Joins hands with Siemens to deliver plant solutions for connected digital enterprises
- Shriram Transport Finance: Allotted NCDs worth Rs 1,100 crore on a private placement basis
- Mandhana Industries: Delays payments of interest and principal repayment of NCDs
- Thermax: To acquire 100 percent stake in Barite Investments Sp. Z.o.o, Poland through its wholly-owned subsidiary
- Orient Green Power: Shareholders approve conversion of loan into equity shares. Will convert loans worth Rs 50 crore issued by Yes Bank
- Punjab & Sind Bank: Proposes to raise funds through issue of Basel-III compliant AT-1 up to Rs 1,000 crore and Basel-III compliant Tier-II bonds up to Rs 500 crore during FY18 in one or more tranches on a private placement basis
- Sadbhav Engineering: Signs an EPC agreement worth Rs 855 crore with Sadbhav Bangalore Pvt. ltd., a step-down subsidiary
- Ujaas Energy: Board of Directors approve disposal of wholly-owned subsidiary Ujaas Energy HK Ltd. Subsidiary had a negative net worth of Rs 57 lakh
- Excel Industries: Board of Directors approve transfer of the environment and biotech division of the company to its wholly-owned subsidiary Excel Bio Resources Ltd. Will also make an equity investment not exceeding Rs 10 crore
- Huhtamaki PPL: Commenced commercial production at its newly set up label manufacturing unit in Sikkim and flexible packaging manufacturing unit in Assam
- Hathway Cable: CLSA global bought 5.3 percent stake at Rs 37.9 per share
- IndusInd Bank: Goldman sachs sells 1.2 percent stake at Rs 1,400 per share. Macquarie Bank sells 0.6 percent stake at Rs 1,409 per share
- Divi's Laboratories: Credit Suisse (Singapore) Ltd. sold 11.29 lakh equity shares or 0.43 percent stake at Rs 635 per share
- Avenue Supermarts: Credit Suisse (Singapore) Ltd. sold 1.57 lakh equity shares at Rs 630 per share
- Voltas: Jefferies raises target price to Rs 480 from Rs 410 due to onset of summer
Media Reports
- Axis Bank: Ties up with Wells Fargo for U.S. remittances. (Economic Times)
- SAIL: Cuts costs by 10 percent despite rise in coal prices. (Economic Times)
- Tata Power: Sells stake in Nelito to DTS. (Business Standard)
- ACC: Planning capex worth Rs 600 crore. (Business Standard)
- NHPC: Government sells 60.48 crore shares for Rs 1,950 crore. (Business Standard)
- Power Grid Corp: Asian Development Bank approves $175 million loan to company. (PTI)
- SAIL: Centre approves strategic divestment of SAIL units. (Business Standard)
- Jindal Steel: To consider raising funds via preferential allotment of shares. (Bloomberg)