Stocks To Watch: JSW Steel, Magma Fincorp, Oil Firms, Unitech

The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, was little changed at 9,210.

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

Unitech

• Managing Director Sanjay Chandra and his brother Ajay Chandra sent to police custody till April 3
• Arrest for not developing a real estate project in Gurugram despite receiving funds from customers
• EOW informed the court that the Chandra brothers raised around Rs 360 crore from the customers and the banks for the Gurugram project

Yes Bank

• Board approves allotment of 3.27 crore shares to QIBs
• Shares to be issued at Rs 1,500 per share
• Bank to raise Rs 4,906 crore from issuance of shares

JSW Steel

• To restructure holding structure of subsidiaries
• To transfer certain assets and liabilities to fully-owned Periama Holdings in the U.S.
• To liquidate JSW Steel Holding (USA) Inc.

Karnataka Bank

• Reduces MCLR by 25 to 55 basis points depending on the maturity
• Also reduces interest rate on housing loan to 9 percent and car loan to 9.9 percent
• Bank targeting a business turnover of Rs 1.1 lakh crore for FY18
• Turnover to comprise of Rs 64.5 lakh crore of deposits and Rs 45.5 lakh crore of advances

Magma Fincorp

• Sold non-performing assets worth Rs 679 crore
• Consolidated net profit after tax to decline by Rs 135-145 crore as a result
• Gross NPA and Net NPA to be reduced by 3.6 percent and 2.1 percent respectively
• As of December 31, 2016, Gross and Net NPA stood at 10.5 and 8.1 percent respectively

Vikas EcoTech

• Newly polypropylene manufacturing plant destroyed in a fire at the Shahjahanpur manufacturing facility in Rajasthan
• Four other manufacturing units in the same factory complex are safe and fully operational
• Will take a minimum of 4 months to restore full production of this unit
• The polypropylene unit was expected to contribute around 3 percent to the company's annual sales in FY18
• Total damage estimated to be around Rs 15-20 crore

Motilal Oswal

• Acquires 6.88 percent stake in MAS Financial Services for Rs 100 crore
• To be allotted another 2.19 percent stake in the company for Rs 35 crore
• The entire 9.07 percent stake totals to a sum of Rs 135 crore

Indoco Remedies

• Receives warning letter from the U.S. FDA on March 27, 2017
• FDA remains concerned about the 2 observations in the Verna plant in Goa

• JSW Steel: Posts highest-ever monthly crude steel production of 1.45 million tonne in March 2017
• Dhanlaxmi Bank: Seeks shareholder approval to issue 4.61 crore equity shares on a preferential basis to various investors. At Friday's closing price of Rs 29.7, the bank will raise Rs 137 crore
• NLC India: Expects to achieve a lignite mining capacity of 62.15 million tonnes per annum and coal production of 31 million tonnes per annum by 2025
• Peninsula Land: Acquires 86 percent stake in Topvalue Real Estate Development Ltd. through its subsidiary Peninsula Holding and Investment Pvt. Ltd. for Rs 8.6 lakh, thereby making it a wholly-owned subsidiary of the company
• Torrent Power: Allotted NCDs worth Rs 245 crore with a coupon rate of 8.95 percent
• Procter & Gamble Hygiene: Rosemount LLC has transferred 10.88 lakh shares to another promoter group company Procter & Gamble Overseas India B.V., the Netherlands.
• Bank of India: Seeks board's approval for proposed plan to raise capital during FY18
• Lakshmi Vilas Bank: Revises overnight MCLR rate to 9.4 percent with effect from April 1
• Amtek Auto: Allots 2.35 crore shares to promoter entities at Rs 50 per share aggregating to Rs 117.5 crore
• MBL Infrastructure: Bankers evaluating options for debt resolution process
• Bajaj Finance: Allots NCDs worth Rs 474 crore on a private placement basis
• Mawana Sugars: To invest Rs 8 crore in 5 percent redeemable preference shares in subsidiary Siel Industrial Estate
• Everest Kanto: To sell company's land, building and electric installations for $29 million to SNF Flopam India
• Himachal Futuristic Communications: To buy 6 percent equity in Polixel for Rs 74.6 lakh and make Polixel a wholly-owned subsidiary
• Future Lifestyle Fashions: Completes fund raising of Rs 250 crore in Lee Cooper's business
• Reliance Capital: Issues NCDs worth Rs 300 crore
• Shriram Transport Finance: To allot NCDs worth Rs 95 crore on a private placement basis

March Auto Sales

Maruti Suzuki

• Clocks highest ever sales for a fiscal year
• Sold 15,68,603 units for FY17, 9.8 percent higher than FY16
• Sold 1,39,763 units in March 2017, a growth of 8.1 percent year-on-year

Mahindra & Mahindra

• Overall sales for March at 56,031 vehicles, a growth of 6 percent year-on-year
• Commercial Vehicle sales grew 31 percent to 22,908 units
• Exports fell 28 percent on a year-on-year basis

Tata Motors

• Total sales for FY17 grow 6 percent to 5,45,561 units
• Sales for the January-March quarter grew 3 percent to 1,51,067 units
• For the month of March, sales grew 8 percent to 57,145

Eicher Motors

• Total sales for March grew 17 percent year-on-year to 60,113 units
• Exports grew 24 percent in March to 1,564 units
• Best ever monthly sales in the month of March
• Domestic sales grew 17 percent in March to 58,549 units

SML Isuzu

• Total sales for March increased by 26.4 percent to 2,094 vehicles
• Sales for the fourth quarter grew 21 percent to 4,241 units
• Sales during FY17 grew 19.6 percent to 15,184 units

Bulk Deals

• Future Retail: Bennet Coleman & Company buys 0.9 percent stake at Rs 256 per share
• Selan Exploration: Porinju Veliyath buys 0.6 percent stake at Rs 158 per share
• Adlabs Entertainment: Swiss Finance Corp sells 0.5 percent stake at Rs 79.7 per share
• Setco Automotive: Morgan Stanley sells 0.5 percent stake at Rs 34.5 per share

Media Reports

• Jyothy Labs: To extend period for exercise of option by Henkel. (Bloomberg)
• Indraprastha Gas: RBI bars further FII investment in shares at it surpasses its 24 percent limit. (Bloomberg)
• Dewan Housing: Sells entire stake of DHFL Pramerica to DHFL investments for Rs 2000 crore. (Bloomberg)
• Axis Bank: In pact with Gus Holdings to sell 10 percent stake in Experian India for Rs 64 crore. (Bloomberg)
• OMCs: Petrol prices cut by Rs 3.77 per litre while diesel prices cut by Rs 2.91 per litre. (PTI)
• Tata Motors: Subsidiary TAL to export Made-in-India robot to Europe. (Financial Express)
• Infosys: Only 24 percent promoters vote for a salary hike for COO Pravin Rao. (Economic Times)
• Godfrey Phillips: In talks to sell marketing and distribution divisions. (Economic Times)
• Aditya Birla Fashion and Retail: Eyes 49 percent stake in local arm of Danish apparel maker Bestseller. (Economic Times)
• Kotak Mahindra Bank: To launch infrastructure debt fund with an initial investment of Rs 300 crore. Bank awaiting approval from the RBI. (Economic Times)
• Aviation Companies: ATF prices reduced by 5.1 percent to Rs 51,428 per kilolitre from April 1. (Economic Times)
• GAIL: Shell withdraws from Kakinada gas project. (Business Standard)
• L&T: Defence ministry to meet today to look at 'strategic partner' policy. (Business Standard)
• BSE: To charge for each equity trade from today. (Business Standard)
• HCL Tech: To invest Rs 500 crore in Andhra Pradesh. (Financial Express)