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Stocks to watch: IndiaMART, Cox & Kings, Dr Reddy's, Adani Ent, Titan, L&T

Here's a list of some of the companies whose shares are expected to trade actively in Thursday's session.

SI Reporter  |  New Delhi 

Firms

At 08:30 am, Nifty futures on the Singapore Exchange (SGX) were trading 0.50 points higher at 11,948.50, indicating a flat start for the Indian market.

Here's a list of some of the companies whose shares are expected to trade actively in Thursday's session -

IndiaMART: IndiaMART InterMesh is slated to debut on the bourses today. The initial public offering (IPO) of the company, which was opened for subscription during June 24-26, was subscribed 36.21 times. The price band of the offer was fixed at Rs 970 - Rs 973 per share.

Cox & Kings: Lenders have turned cautious after Cox & Kings defaulted on commercial paper of Rs 200 crore in the last few days and are looking at ways to address the tour operator’s debt issues. Moreover, the company defaulted Rs 7.2 crore NCD interest payment due June 30.


DHFL: Lenders to crisis-hit Dewan Housing Finance Corporation (DHFL), in the process of finalising a resolution plan, have discussed broad contours of a “binding agreement” that would lay down conditions for the promoters, led by Chairman and Managing Director Kapil Wadhawan.

Uniply Industries: Kuwait-based Markab Capital WLL has announced acquisition of a controlling stake in Chennai-based architectural, design and build turnkey solutions provider Uniply Industries. The offer values the company at an enterprise value of over Rs 1,550 crore on a fully diluted basis.

Dr Reddy's: The pharma company Wednesday announced the launch of Carboprost Tromethamine Injection USP, 250 mcg/mL (1mL) single-dose vial, in the USA market following the approval by the US Food and Drug Administration (USFDA).

Adani Enterprises: The Union Cabinet gave its approval on Wednesday to the proposals for leasing out three major airports -- Ahmedabad, Lucknow and Mangaluru -- of the Airports Authority of India (AAI) through public-private partnership (PPP), PTI reported citing sources.

Dish TV, Bharti Airtel: The promoters of direct-to-home (DTH) service provider Dish TV will be exiting the business by selling their stake to Airtel Digital TV, the DTH arm of telecom giant Bharti Airtel, according to a report by Business Standard.

Vedanta: Vedanta on Wednesday said it will invest $245 million for finding oil and natural gas over the next 3-4 years in the 10 areas it won in the latest licensing round.

Wockhardt: Apax Partners, Blackstone, Carlyle and KKR are in talks with Wockhardt to acquire a substantial stake in its domestic formulations business, according to a report by The Economic Times.

Mcleod Russel: Rating agency Icra has downgraded McLeod Russel India's ratings on Rs 1,031 crore fund-based and non-fund based bank facilities to "default" or "D" category from B-/A4. It said that the rating revision factored in McLeod's recent delays in meeting debt obligations.

Titan: As per reports, Morgan Stanley has downgraded Titan with the target price of Rs 1,300 per share.

Cummins: As per news reports, Nomura has downgraded to reduce, target price cut to Rs 700 apiece.

L&T, Mindtree: Nalanda India Fund and Nalanda India Equity Fund have sold majority of their holding in Mindtree Ltd in the recent open offer launched by Larsen and Toubro (L&T), which is now a promoter of the Bengaluru-based IT firm with 60.06 per cent stake.

First Published: Thu, July 04 2019. 08:29 IST
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