Stocks To Watch: Force Motors, Jindal Steel, Phoenix Mills, Sugar Companies

The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, fell 0.44 percent to 9,247.

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

Jindal Steel & Power

• Steel production grew 12.3 percent sequentially to 1.3 million tonnes in the fourth quarter
• Steel sales grew 11.2 percent sequentially, to 1.34 million tonnes in Q4
• Recorded highest ever production and sales of over 4.8 million tonnes

JSW Steel

• Approved issuance of senior unsecured notes worth $500 million
• Notes will be listed on Singapore Exchange Securities Trading Ltd.
• Moody's Investor Service and Fitch Ratings have rated the bonds Ba3 and BB respectively

Phoenix Mills

• Signs a definitive agreement with Canada Pension Plan Investment Board (CPPIB) to develop, own and operate retail-led mixed-use developments across India
• CPPIB to initially own 30 percent in Island Star Mall Developers Pvt. with an equity commitment of Rs 724 crore
• It will own up to 49 percent by investing Rs 1,600 crore going ahead
• Enterprise value of Island Star pegged at Rs 2,200 crore
• Phoenix Mills owns 100 percent stake in Island Star Mall Developers, which has a net-worth of Rs 281 crore and total assets worth Rs 842 crore

• Reliance Defence and Engineering: To hold board meeting on April 11 to approve and revalidate the rights issue of equity shares up to Rs 1,200 crore
• Gallant Ispat: Government may acquire the company's land if the proposed metro rail project declared by Gorakhpur Development Authority is approved
• Edelweiss Financial Services: Ecap Equities Ltd., a wholly-owned subsidiary of the company acquired 100 percent stake in Alternative Investment Market Advisors Pvt., a fintech company for fixed income analytics with innovative trade protocols
• Capital First: Approves non-convertible debentures worth Rs 500 crore
• Power Grid Corporation: Entered into a loan agreement with Asian Development Bank for an amount of $225 million for part funding of its transmission projects associated with Solar Power Parks.
• Chemfab Alkalis: NCLT approves scheme of amalgamation and arrangement with Teamec Chlorates
• Repco Home Finance: To raise Rs 272 crore via issue of NCDs
• IndusInd Bank: To raise funds via issue of NCDs aggregating to Rs 1,000 crore
• Brahmaputra Infrastructure: Receives orders worth Rs 44.80 crore from the government of Assam for construction of residential complex at Guwahati

Media Reports

• Sugar Companies: Duty-free sugar imports to boost domestic supply and lift global prices (Economic Times)
• Adani Enterprises: Coal mine project in Australia granted water licence (Economic Times)
• SAIL: Local steel in infrastructure projects may become a must (PTI)
• Power Grid: Plans electric vehicle push with charging stations, batteries (Mint)
• Bajaj Finance: Lowers cap for fixed deposits, offers high returns (PTI)
• Ashapura Minechem: To allot 4,00,226 shares to Bennet Coleman and Coleman upon conversion of warrants (Bloomberg)
• Force Motors: Sales for March stood at 4,129 units, exports at 233 units. (Bloomberg)