Stocks To Watch: ICICI Bank, Lupin, Future Consumer, Coal India And More

The Nifty futures on the Singapore Stock Exchange, an early indicator of Nifty’s performance in India, remained little changed at 8,182.

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

• VST Tillers Tractors: Sold 1,495 units of power tillers and 684 units of tractors in November.

Deep Industries: To open QIP issue on December 6 at a floor price of Rs 239 share.

• Floor price at a 4.6 percent discount to Tuesday’s closing price.
• Company has approval to raise up to Rs 125 crore
• Company opting to raise full approved amount will result in 52.13 lakh additional shares in market.
• Promoter holding may fall to 59.5 percent from 70 percent.
• Final price to be decided on December 9.

• Lupin: Receives U.S. FDA approval for generic topicort ointment.
• Bharti Airtel: Raghunath Mandava, the current chief operating officer of Airtel Africa, will take over as managing director and chief executive officer from January 1, 2017.
• ICICI Bank: To consider raising funds via various debt instruments on December 9.
• Future Consumer: Enters into a joint venture agreement with LT Foods and Genoa Rice Mills for undertaking the business of manufacturing, marketing, sales, sourcing and distribution of ‘Sona Masoori’.
• Kirloskar Brothers: South African subsidiary Kirloskar Brothers International Pty incorporates ‘Kirloskar Brothers International Zambia’ as its wholly-owned subsidiary.
• KEI Industries: Expansion project of Chopanki plant will be operational by end of December 2016.
• Lakshmi Machine Works: Makes a cash offer to buyback 3.11 lakh equity shares at Rs 4,450 or an aggregate amount of Rs 138.38 crore.
• IL&FS Transportation: Joint venture with PJSC Kyivmetrobud emerged as the lowest bidder for a Rs 371.28 crore Chennai metro project to be completed in 20 months. The total orderbook now stands at Rs 13,895 crore.
• GTL Infrastructure: To consider conversion of foreign currency convertible bonds of up to $3.55 million today.
• Xchanging Solutions: CSC Computer Sciences International Operations Ltd. has made open offer for public shareholders of Xchanging Solutions to acquire shares of the company at Rs 41.01 per share. Offer lasts from December 19 to December 30.
• Adani Enterprises: Incorporates a wholly owned subsidiary named Adani Cementation Ltd.
• Vishal Bearings: Fixes record date at December 16 for issue of bonus share in the ratio of 1:4.

ICICI Bank

• Consortium led by ICICI Bank sues Essar for $530 million default.
• Lenders of Essar Steel Minnesota seek $560 million in damages for delays and cost overruns in its US project.
• Essar Group spokesperson says ESML has filed for bankruptcy protection and the matter would be dealt with by court. (Economic Times)

Media Reports

• Adani Enterprises: To start work on Australian mine in mid-2017, says will not hire overseas workers for the same. (Reports)
• ONGC: Sudan holds up ONGC Videsh’s oil-field licence extension. (Financial Express)
• Piramal Enterprises: Eyeing transactions in renewable energy, roads, industrials and auto companies in order to boost Assets Under Management. (Economic Times)
• Coal India: Likely to miss FY17 sales target. (Economic Times)
• GAIL: Saudi agency to offer $500 million loan for TAPI project where GAIL has a 5 percent stake. (Financial Express)
• Tata Power: Says termination of Tata brand pact may erode value. (Bloomberg)

IPO Watch

Laurus Labs IPO subscribed 28 percent on day 1.

Earnings Reaction To Watch

• Gujarat Gas
• Surya Roshni

Earnings To Watch

• Ansal Properties & Infrastructure
• Crompton Greaves
• GMR Infrastructure
• Krebs Biochemicals and Industries
• Prestige Estates Projects
• PNC Infratech