Stocks To Watch: Axis Bank, Eris Lifesciences, Fortis Healthcare, MindTree

The Singapore traded SGX Nifty, an early indicator of Nifty’s performance in India, gained 0.37 percent to 9,537.

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

Eris Lifesciences

• Healthcare company to make its debut on exchanges
• initial public offer subscribed 3.3 times
• Issue price set at Rs 603 per share
• Qualified institutional buyers (QIPs) subscription at 4.68 times.
• Retail investor subscription at 3.51 times.

Rashtriya Chemicals & Fertilizers

• Government to divest 5 percent stake in the company
• Offer-for-sale floor price set at Rs 74.25 per share
• Government to raise Rs 200 crore from stake sale

• Hubtown: To issue securities to QIBs on private placement basis, subject to shareholder approval
• Mindtree: Board approves buyback of 43.2 lakh equity shares or 2.57 percent of the total shares at a price of Rs 625 each aggregating to Rs 270 crore
• Godrej Industries: Board approves to raise Rs 400 crore through Godrej Agrovet IPO
• Seamec: Charter of vessel SEAMEC III with L&T Hydrocarbon Engineering ended
• Fortis Healthcare: Shareholders approve increase in FII investment limit to 74 percent from 24 percent
• Corporation Bank: Gets shareholder nod to raise Rs 3,500 crore via issue of equity
• UCO Bank: To raise Rs 3,000 crore this fiscal
• LT Foods: To set up rice processing plant in Europe at an initial investment of $15 million. The plant will have an initial processing capacity of 60,000 tonne
• Wipro: Says U.S. nationals form 50 percent of the company's workforce in the country

RPP Infrastructure

• Nithya sold 22.5 lakh equity shares or 9.96 percent stake.
• The promoter will be lending the amount raised from stake sale to company as debt at a nominal interest rate.
• The promoter would later convert this debt into equity, said the release on exchanges.

Vedanta

• To spend $3 billion over the next three years to re-energize its biggest oilfield (Bloomberg)

Read the full report, here

Axis Bank

• The bank said it had exposure on eight accounts that RBI had advised on initiating insolvency process.
• Total fund-based outstanding of the bank on these accounts was Rs 5,071 crore while non-fund based outstanding was Rs 212 crore, according to its exchange filing.
• The bank has secured around 80 percent of the outstanding. Provision held was 2,497 crore against this outstanding, it said in the filing.

Other Corporate Announcements

• ITC: Company seeking shareholders’ approval to hike Chairman YC Deveshwar’s remuneration
• Gammon India: Seeks shareholder nod for excess pay to Chief Managing Director Abhijit Rajan. (Business Standard)
• L&T Finance: To raise Rs 15,000 crore for IPO finance (Business Standard)

Brokerage Calls

• Maruti Suzuki: Downgraded to 'Neutral' at UBS with price target of Rs 7,700
• Dr Lal Pathlabs: Downgraded to 'Underweight' at Morgan Stanley with price target of Rs 700
• Ultratech Cement: Jefferies maintains 'Hold' with price target of Rs 3,585
• Tata Motors: HSBC maintains a 'Buy' with a price target of Rs 500
• Eicher Motors: HSBC maintains a 'Buy' with a price target of Rs 30,500
• Voltas: HSBC maintains a 'Hold' with a price target of Rs 485
• L&T Infotech: Raised to 'Outperform' at Macquarie with a target price of Rs 920

Bulk Deals

Raunaq EPC

• Porinju Veliyath bought 35,000 shares or 1 percent stake at Rs 143.26 each
• Rajiv Garg sold 29,000 shares or 0.9 percent stake at Rs 148.45 each

GNA Axles

• Reliance Mutual Fund Small Cap sold 8.56 lakh shares or 4 percent stake at RS 229.01 each
• Sundaram Alternative Opportunities Fund bought 8.17 lakh shares or 3.8 percent stake at Rs 229 each

• Shiva Cements: JSW Cement bought 25 lakh shares or 1.3 percent stake at Rs 21.25 each
• Natco Pharma: CX Securities sold 11.98 lakh shares or 0.7 percent stake at Rs 930.03 each
• Saregama India: Reliance Spot Exchange Infrastructure Sold 1.63 lakh shares or 0.9 percent stake at Rs 282.87 each

Today’s Nifty Quote

F&O Check

• Petronet LNG: Fresh shorts seen with open interest up 41 percent
• HDIL: Fresh longs seen with open interest up 19 percent
• Page Industries: Fresh longs seen with open interest up 16 percent
• Union Bank of India: Short covering seen with open interest down 13 percent
• Reliance Industries: Long unwinding seen with open interest down 2 percent

Stocks In F&O Ban

• Fortis Healthcare
• GMR Infrastructure
• IndiaBulls Real Estate
• IFCI
• India Cements
• Infibeam Incorporation
• Jaiprakash Associates
• Kaveri Seeds
• Oriental Bank of Commerce
• Reliance Capital
• Ujjivan Financial Services

Media Reports

• Coal India: India Ratings notes low coal stocks at power plants (Business Line)
• Sugar stocks: India won’t raise import duty on the commodity for now (Bloomberg)
• Tata Steel: Subsidiary Tinplate seeks to undertake business on its own. (Mint)
• Amtek Group: Local companies Bharat Forge and Sona Koyo to compete with global private equity players Blackstone, KKR and DA capital for Amtek's businesses. (Economic Times)
• Ashok Leyland: To consolidate commercial vehicles business; set for new launches. (PTI)
• Tata Motors: Volkswagen may not form alliance with Tata Motors. (Economic Times)
• Telecom Companies: Spectrum bill at Rs 3 lakh crore. (Business Standard)
• PSU Banks: Bank unions plan strike to raise issue of bad loans among other demands on August 22, 2017. (Business Line)
• Gujarat Pipavav: Says looking to limit impact of cyberattack (Bloomberg)