STOCKS TO WATCH- Wednesday JAN 11 - BEL, Fortis Healthcare, Glenmark Pharma, IndusInd Bank, IOC, Tata Motors
Bharat Electronics Ltd:
Bharat Electronics Ltd., state owned aerospace and defence company will be in focus after it announced that the board in its upcoming meeting on January 27 will consider sub-division of equity shares of the company of face value of Rs 10.
Chembond Chemicals Ltd:
Chembond Chemicals Ltd., manufacturer of range of speciality chemicals will be in focus after it announced that it entered into a Share Purchase Agreement (SPA) with I-Chem Solution Sdn Bhd, Malaysia and I-Chembond Water Sdn Bhd, Malaysia, whereby Chembond Chemicals, subject to the conditions to be fulfilled as per the SPA, would acquire additional 49% of the equity shares of I Chembond Water Sdn Bhd, Malaysia. Post fulfillment of all the necessary terms, conditions and requirements as mentioned in the SPA, the company would hold 100% of equity share capital of I Chembond Water Sdn Bhd, Malaysia. Further, pursuant to the fulfillment of the terms of the SPA, inter-alia, the joint venture (JV) agreement with I-Chem Solution Sdn Bhd, Malaysia stands terminated.
Fortis Healthcare Ltd:
Fortis Healthcare Ltd., hospital chain operator will be in focus, according to media reports, TPG may buy stake in Fortis Healthcare and the deal is likely to announce this or next week.
Glenmark Pharma Ltd:
Glenmark Pharma Ltd., the drugmaker, will be in focus after it announced that is expecting a revenue growth of 15-2%CAGR over the next 5 years.
IndusInd Bank Ltd:
IndusInd Bank Ltd., the privately owned lender, will be in focus after Global brokerage CLSA maintained 'Buy' on IndusInd Bank and upgraded the target price to Rs 1,450 from Rs 1,400 earlier. Morgan Stanley is overweight on IndusInd Bank with a target price of Rs 1,500.
Indian Oil Corporation Ltd:
Indian Oil Corporation Ltd., state-run largest refinery operator, will be in focus after it announces that CLSA sees higher chances of earnings surprise than peers and stabilisation of Paradip refinery remains a key trigger for the stock.
Pennar Aluminium Ltd:
Pennar Aluminium Ltd., aluminium maker, will be in focus after it announced on Tuesday after market hours reported net loss of Rs 0.82 million for the quarter ended December 31, 2016 against net loss of Rs 1.2 million in the corresponding quarter last year.
Shiva Cement Ltd:
Shiva Cement Ltd., the cement maker, will be in focus on media reports suggesting that JSW Cement sealed the deal to buyout Shiva Cements promoter statke.
Tata Motors Ltd:
Tata Motors Ltd., owner of Land Rover and Tata group company will be in focus after it reported a 4% increase in global sales in December at 95,081 units, including that of Jaguar Land Rover (JLR) vehicles.