Stocks To Watch: Adani Power, Cadila Healthcare, SBI, Strides Shasun

The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, was little changed at 9,687.

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

India Grid Trust

• To list on the bourses today
• Issue price of Rs 100
• Issue was subscribed 1.35 times

State Bank of India

• To raise up to Rs 15,000 crore via QIP
• The issue is also likely to carry zero discount, bank sources to BloombergQuint
• Could issue 52.2 crore equity shares at a floor price of Rs 287.58 per share
• QIP will result in equity dilution of 6.14 percent
• Government's holding to fall to 57.5 percent from 62.2 percent

Adani Power

• To consider hiving off Mundra plant to its subsidiary Adani Power (Mundra) Ltd. today
• Gujarat Urja Vikas Nigam Ltd. (GUVNL) may buy 51 percent stake in the new subsidiary, PTI says
• GUVNL has a long-term power purchase agreement (PPA) with a substantially fixed tariff for 25 years
• Mundra plant was the largest single-location power generator in FY16

Also Read: India's Adani Approves Controversial Coal Project in Australia

ICICI Bank

• Board approves proposal to list ICICI Lombard General Insurance and to sell partial stake in the same
• Net profit for the FY17 for ICICI Lombard was up 38 percent at Rs 701.88 crore
• Solvency ratio is 210 percent
• Book value per share is Rs 82.57
• Foreign ownership is 34.3 percent

• Raymond: Shareholders reject proposal to sell JK house to promoters and extended family at substantial discount
• Strides Shasun: U.S. FDA issues form 483 for its South Bengaluru plant with three observations
• Cadila Healthcare: Received Establishment Inspection Report (EIR) from the U.S. FDA for its Baddi facility
• HDIL: Societe Generale buys 25.3 lakh shares or 0.58 percent stake at Rs 92.04 each

Other Corporate Announcements

• NDTV: Clarifies that the CBI raids were based on a compliant by a former employee related to a loan from ICICI bank which has been repaid more than seven years ago
• Wipro: Shareholders approve issue of bonus shares. Also clarifies that the news of promoters in early stage of evaluating sale of part or whole business as 'baseless and malicious'
• Bharat Petroleum: Seeks shareholder nod to approve bonus issue
• Coral India Finance and Housing: Announces 5:1 stock split
• Indiabulls Real Estate: To issue NCDs worth Rs 75 crore on a private placement basis
• Alankit: Promoters enter into a share purchase agreement to acquire 5.4 crore shares or 37.78 percent stake in the company triggering an open offer to acquire 3.71 crore shares
• Capital First: Raised Rs 50 crore via issue of NCDs on private placement basis
• M&M Financial Services: To issue NCDs worth Rs 70 crore
• Gufic Biosciences: Received two patent certificates from Indian Patent Office of the Government of India
• Aditya Birla Nuvo: NCLT approves composite scheme of arrangement between company and Grasim Industries
• Singer India: Promoter sold 61,000 shares or 0.57 percent stake at Rs 232.49 each
• Scooters India: Government invites bids for bankers to advice strategic divestment of the company

Stampede Capital

• Promoter Usha Rani sold 15.5 lakh shares at Rs 19.65 each
• Bright Star Equities Pvt. Ltd. bought 30 lakh shares or 1.3 percent stake at Rs 19.65 each

Today’s Nifty Call

Brokerage Calls

• Ahluwalia Contracts India: Cut to 'Hold' at Reliance Securities
• AIA Engineering: Cut to 'Hold' at Centrum Wealth Management
• Hindustan Unilever: Cut to 'Hold' at ICICIdirect with price target of Rs 1,120

Stocks In F&O Ban

• DLF
• GMR Infrastructure
• Indiabulls Real Estate
• Infibeam Incorporation
• Jaiprakash Associates
• Reliance Communications
• Reliance Capital

Media Reports

• Hindustan Petroleum: To raise Rs 27,000 crore for Rajasthan Refinery. (Mint)
• DEN Networks: To exit TV commerce business. (Mint)
• CARE Ratings: Plans 10 percent share buyback. (Economic Times)
• Telecom Companies: COAI writes to Finance Ministry seeking cut in GST rates for sector. (PTI)
• ICICI Bank: Commissions 200 solar-powered ATMs. (PTI)
• ITC: Enters frozen food market, eyes sauce, condiments. (Mint)