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Investors could watch out for the Venky’s India scrip on Lavasa, a subsidiary of Hindustan Construction Co, filing a prospectus with SEBI for a ₹750-crore IPO. Venkateshwara Hatcheries, one of the promoters of Venky’s India, holds about 12.79 per cent stake in Lavasa. Though the IPO process takes time for regulatory clearance and market timing, talk of the stake sale will keep the Venky’s India stock in the limelight.
Tata Steel may shine on UK arm revamp
Shares of Tata Steel will remain in focus as its European arm plans to cut 400 jobs at its Port Talbot, UK unit as part of revamping its vertical, Strip Products UK. Tata Steel did not disclose the proposed savings from the move. While the European arm’s investments at the Port Talbot unit and the galvanising line in Llanwern could improve production of high-value automotive steel, the revamp will be vital to make operations competitive.
Order booster for Brahmaputra Infra
Shares of Brahmaputra Infrastructure will remain in focus on Tuesday as the company bagged orders worth ₹34.67 crore from Guwahati Metropolitan Development Authority (GMDA). The project is for 30 months from the date of issue of detailed work order. The company has posted a loss of ₹17.25 crore for the quarter ended March 2014. Recently, the board of Brahmaputra Infrastructure had approved a CDR proposal from RBI.
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