Stock Market

Stocks to watch: Infosys, Punj Lloyd, GMR, Monnet Ispat, Ajanta

Here are stocks that will be in news on Monday:

Accenture Q2FY16 YoY
-Revises annual guidance to 8-10 percent from 6-9 percent
-Revenue up 6 percent at USD 7.9 billion, 12 percent in local currency (CC) ahead of guidance of 6-9 percent CC growth
-Consulting revenue up 12% to USD 4.29 billion (18 percent in CC)
-Outsourcing revenue flat at USD 3.65 billion (up 6 percent CC)
-Operating margin up 10 bps to 13.7 percent
-Net income at USD 1.3 billion
-IT stocks like TCS , Infosys etc in focus

Punj Lloyd
-Jayaram Prasad Chalasani resigns as managing director and Group CEO
-Shamik Roy resigns as chief financial officer
-Chairman Atul Punj’s son Shiv Punj appointed as additional director

Tata Group: Sources
-Have been approached by banks to buy Essar Steel
-Were approached 3-4 weeks ago to buy Essar Steel
-Bankers have not gotten back since first call
Banking sources
-Have given ultimatum to Essar Steel to pay back
-Have told Essar to be ready for all options
-Told Essar be ready for full sale or a strategic partner
Industry sources
-Banks approached JSW, Tatas for Essar Steel
-Essar Steel linked with Essar Ports
-Essar Steel’s pipelines sold/leased to other parties
-Essar Steel’s oxygen plant leased out
-Essar Steel has PPA with Essar Power

NTPC ‘s arm commissions unit-4 of 195 MW of Muzaffarpur thermal power station on March 24
-Total installed capacity of Muzzafarpur thermal power station stands at 610 MW
-Total installed capacity of NTPC Group stands at 45,993 MW

GMR to sell 51 percent stake in Karnataka Highway subsidiary to JV partners
GMR Infra says
-Karnataka highway stake sale will reduce debt by Rs 1,078 crore
-Overall sale consideration for Karnataka highway stake is Rs 85 crore

Sanofi India says
-Vijay Mallya ceases to be a director & chairman of the board of directors
-Vijay Mallya not seeking re-election as director
-Vijay Mallya says will retire from chairmanship of Sanofi India

Cholamandalam Investment
-Company not to pursue payments bank opportunity
-To surrender in-principle payments bank approval given to unit CDSL
-Company not to proceed with investment of Rs 75 crore in Cholamandalam Distribution

Fund Action – United Breweries
-ECL Finance sells 15.1 lakh shares in United Breweries
-Yes Bank sells 6 lakh shares in United Breweries
-Heineken International buys 21.14 lakh shares in United Breweries

HBL Power Systems
-Board approves amalgamation of Beaver Engineering with company
-3383 company’s shares to be given for every 10 held in Beaver Engineering
-3753 company’s shares to be given for every 10 compulsory convertible preference shares
-3901 company’s shares to be given for every 10 optionally convertible preference shares
-Post merger promoter shares holding to come down to 56.25 percent from 74.13 percent

Reliance Communications
-Extends exclusive discussions for combination of wireless business with Aircel
-Extends exclusivity period with Aircel by 60 days to May 22
-Discussions with Aircel are non-binding in nature

Other stocks and sectors that will be in news on Monday:
Ajanta Pharma announces the launch of Levetiracetam tablets in the US (used to cure epileptic neurological disorders)
IL&FS Engineering & Construction JV receives letter of award for Rs 153.99 crore turnkey works in Gujarat from Power Grid Corporation
Monnet Ispat shareholders approve sale of power arm, Monnet Power: PTI
L&T arm L&T Infotech to expand presence in US, Europe: PTI
Lloyd Electric & Engineering acquires Noske-Kaeser’s rail & vehicle global business
Inox Wind arm acquires Sarayu Wind Power, Kondapuram w.e.f March 25, 2016
Oriental Bank of Commerce reduces term deposit rates by 50 bps
BHEL commissions 600 MW thermal unit in Telangana
-DIPP notifies 49 percent FDI under auto route in insurance, pension: PTI
Bajaj Finance allotted redeemable non-convertible debentures worth Rs 716 crore on preferential basis
-Public private project (PPP) appraisal committee clears 4 highway projects worth Rs 5706.63 crore
Steelcast to allot 20.2 lakh shares at Rs 60/share to investors on preferential basis
Tata Steel reaches deal to sell two steel plants in Scotland